In the course of its normal business, the Group deals with its shareholders, sister companies owned by the shareholders and Senior Management. The Group concludes contracts to obtain services and pay expenses on behalf of sister companies. Such transactions are carried out in accordance with specific conditions with related parties. Following is a breakdown of the value of transactions made during the financial year:
Related party | Type of relationship with the Company | Transaction type | Transaction value |
Al Joudah Al-Mahaliyah Limited Company | Affiliate | Collection on behalf | 232,998 |
Revenue from sale of services | 46,000 | ||
Revenue from contracting | 41,034 | ||
The Eight Creations Agency for Advertising | Affiliate | Advertisement and publicity services | 1,595,855 |
Talal bin Saud Al Arifi | An owner in a subsidiary | Expenses paid on behalf of the subsidiary | 1,887 |
Tharwa Holding Company | Affiliate | Leases and Maintenance services | 1,366,205 |
Dar Al Fikrah Al-Mumaiyazah | Affiliate | Construction services | 4,271,203 |
Halalah International Company | A company owned by Deputy CEO | Logistics services | 6,391,146 |
Payments on behalf of the Group | 3,503,556 | ||
Halala Trading Company | Affiliate | Purchases invoices | 106,674 |