DISPUTE WATCH-

Methanol Chemicals (Chemanol) is facing a lawsuit from the former owners of the Global Company for Chemical Industries in the Dammam Commercial Court, according to a disclosure to Tadawul released yesterday. The former owners are seeking SAR 73 mn — the alleged unpaid portion for the SAR 80 mn sale of an 80% stake in Global Company to Chemanol under a May 2024 agreement.

The plaintiffs include Al Abdullatif Holding Group, Dar Al Balad Commercial, Najm for Commercial Investment, Ammar Abdulwahid Faleh Al Khudairi, and Faisal Mohammed Abdulrahman Al Raees.

DEBT WATCH-

Hedab Alkhaleej Trading Company’s board approved a SAR 60 mn shariah-compliant loan from Alinma Bank, it said in a filing to the bourse yesterday. The facility — secured by SAR 66 mn promissory notes — runs until 31 May 2028 and will be used to cover working capital needs and issue letters of credit.

STARTUP WATCH-

Impact46 has invested over SAR 25 mn in five new gaming studios, according to a post onLinkedIn. The recipients include Riyadh-based Fahy Studios, NJD Games, Starvania Studio, Game Cooks from Beirut and San Francisco, and Turkey-born Alpaka Games as part of its SAR 150 mn gaming fund. The move expands its e-gaming portfolio, which already includes earlier investments in Spoilz Games and Spekter Games.

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