Abdullah A. M Al-Khodari Sons Company announces its backlog as of 30-09-2016.
Abdullah A. M Al-Khodari Sons Company announces its backlog as of 30-09-2016 as the following:-
1) Total contract value is SAR 7,782,358,884.
2) Total value of backlog (uncompleted work) is SAR 3,008,423,140
3) Total value of the delayed work is SAR 362,181,773.
4) The reasons for the delays are due to one or more of the following:
a) Excessive delay in issuance of visas and/or issuance in numbers far below those in client support letters.
b) Delay in appointing the consultant.
c) Delay in review/processing the invoices.
e) Delay in payment of approved invoices.
f) Design changes.
g) Delay in approving variation orders.
h) Stoppage of work by the clients due to insufficient liquidity.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.