Kuwait – Mubasher: Salbookh Trading said the court has issued a rule in favor of the company’s branch in Fujairah, UAE against two firms including Al Afdal Crushers Company.
Salbookh-Fujairah will get AED 3.37 million ($917,300) from this verdict, according to a bourse statement issued Wednesday.
An annual interest rate of 9% will be calculated starting from 14 September, 2015 and until the payment process is complete, in addition to AED 300 as legal fees.
Salboosh clarified that no financial impact will affect the company’s statements, as the verdict will not be final until it is effective by Salbookh.
