Arabi Holding Group subsidiary Arabi Energy and Technology Company has approached a local bank to reschedule two credit facility agreements totaling KWD 14.39 million. Arabi Holding Company informed Boursa Kuwait today, Sunday, that its subsidiary is in advanced stages of discussion and is now awaiting the bank's response, adding that it would announce the loan restructure or extension as soon as it is finalised. The identity of the bank was not disclosed by the company. Arabi Holding incurred losses of KWD 6.72 million in the 9M2022, compared to KWD 5.69 million in the corresponding period last year, an increase of 18.1% owing to the issuance of various guarantees.