DEBT WATCH-

Jahez International Company for Information System Technology secured SAR 150 mn in shariah-compliant credit facilities from the National Bank of Bahrain, it said in a disclosure to Tadawul yesterday. The eight-year facilities, backed by a promissory note and the company’s headquarters, will be used to cover capital spending for the company’s head office.

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Multi Business Group renewed its SAR 10 mn shariah-compliant loan with Saudi National Bank, it said in a disclosure to Tadawul yesterday. The one-year facility, which is secured by a SAR 11 mn promissory note, will be used to issue letters of guarantee and advance payments for ongoing and upcoming projects.

Al Moammar Information Systems (MIS) renewed a SAR 450 mn shariah-compliant credit facility with Gulf International Bank – Saudi Arabia, it said in a filing to the bourse yesterday. The facility, valid until 27 April 2026, is secured by a promissory note and will be used to finance MIS’ upcoming projects and issuing letters of credit and guarantee.

EXPANSION-

South Korean chipmaker Rebellions set up a subsidiary in Riyadh to expand its operations into the Middle East, it said on LinkedIn yesterday. The move follows a USD 15 mn investment from Wa’ed Ventures in July 2024 and an MoU with Aramco to supply chips for its data centers, Al Arabiya reports. The company is also exploring partnerships with Saudi telecom operators and IT firms as demand for sovereign AI grows in the region.

LOGISTICS-

The Saudi Ports Authority (Mawani) added MSC’s North India to Middle East shipping service to King Abdulaziz Port in Dammam, linking it to five regional and global ports, it said on X yesterday. The new service — with a capacity of 4k TEUs — will connect Dammam to the ports of Nhava Sheva, Hazira, and Mundra in India, Sohar in Oman, and Abu Dhabi in the UAE.

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