Halwani receives full settlement on insurance claims for 2014 steam boiler incident; received SAR2.3 million in claims on incurred losses
Halwani Brothers (6001.SE) received SAR2.3 million in insurance claims covering the losses incurred from the stoppage of operations on the malfunctioning steam boiler in the August 2014 incident. The payment fully settles Halwani’s claim from the insurance company; earlier in December 2015, Halwani had received a settlement of SAR2.2 million covering the physical value of the malfunctioning steam boiler. The SAR2.3 million will have an impact on 1Q2016 financial statements. (Tadawul) Halwani Brothers: SAR64.86 as of 21 February 2016, Rating: Neutral, FV: SAR85.00 per share, MCap: USD494 million, HB AB / 6001.SE
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