Riyadh – Mubasher: Al Ashghal Al Moysra Commercial Company has cancelled a project award previously granted by the Saudi Post.
The company received notification from the government entity stating that the award was rescinded to serve the public interest.
This development follows the company’s initial announcement regarding the project award on 17 May. According to the regulatory filing, the government entity provided its reasoning for the cancellation based on its assessment of public interest requirements.
Al Ashghal Al Moysra stated that there is no applicable financial impact to report at this stage following the termination of the award. No further details regarding the original scope or specific terms of the project were disclosed in the update.
In July, Al Ashghal Al Moysra launched a new wholly owned subsidiary, Ashamco Express, a limited liability company based in the Sakaka region.
