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SEC to collect SR2.7bn in debts from ‘high profile customers’

: Tuesday, July 08 - 2014 @ 01:40

Saudi Electricity Co (SEC) has announced it is set to collect SR2.7bn ($719.9m) in debt owed by high profile customers, Reuters has reported. The debt was previously recorded as provisions against receivables outstanding, and the payment will have a significant impact on earnings, the SEC said.

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Tuesday, July 8- 2014 @ 1:40 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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