Perfect Presentation Renews SAR265M Facility with Al Rajhi

Saudi Arabia's technology spending is rising under Vision 2030. Government entities and state-linked companies are awarding contracts for smart city platforms, healthcare digitization, and education technology. IT services firms that maintain strong banking relationships and clean balance sheets are better positioned to absorb the working capital demands of multi-year projects.

The renewal also reflects broader conditions in Saudi banking. Al Rajhi, the kingdom's largest Islamic lender by assets, has ample liquidity and is directed under Vision 2030 to extend credit to companies supporting national development. For IT services firms, access to Shariah-compliant credit lines is a structural advantage over markets where conventional lending dominates.

2P shares trade on the Saudi main market. The company booked revenue growth in recent quarters driven by government contracts. The credit facility renewal removes one source of uncertainty around its financing capability, though the full terms were not disclosed in the filing. The disclosure was made to the Capital Market Authority and published on the exchange's website.