Maaden has disclosed an update on the transformation process to IFRS highlighting that the biggest challenge was to componentise its fixed assets, given the company’s scale and complexity of operations. The company noted that the largest impact will come from the impairment tests (required under IFRS) of property, plant and equipment, which will be reflected in retained earnings as of 1 January 2016. The company mentioned that it has completed all the necessary procedures to publish IFRS compliant results starting 1Q17. (Tadawul)     Maaden: SAR43.10 as of 1 Feb. 2017, Rating: Neutral, TP: SAR30.00/share, MCap: USD13,424mn, MAADEN AB/1211.SE