Dar Al-Murakkaba: Audit Members Step Down

Dar Al-Murakaba Car Rental Company has submitted the resignation of two members of the Audit Committee, Khalid Al-Muqbel and Ahmed Al-Saadoun, due to the weak implementation of governance procedures within the company. The company clarified in a statement that it will appoint two replacement members to ensure the committee's formation is completed in accordance with legal requirements, with the names to be announced later. The company recorded significant losses amounting to 436% last year, totaling 6.2 million Riyals, due to rising costs and declining sales. Additionally, its revenues decreased by 20% to 53 million Riyals as a result of restructuring its strategy and focusing on contracts with higher cash flows and profits. Its accumulated losses decreased to 26% of its capital by the end of 2025, as part of a plan to improve operational efficiency through the cessation of low-profit projects. The company was established in 2013, with a market value of 60 million Riyals. Saleh Al-Zahrani owns the largest stake in it.

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