THE general assembly of Saudi Research and Marketing Group (SRMG) will on Monday consider a proposal not to distribute dividends to shareholders for 2013 because of huge losses of about SR17.8 million, Makkah daily reported on Thursday. It said the losses have increased by about 55.06 percent to reach SR27 million in the first quarter of 2014. The general assembly, which will meet in Riyadh, is expected to approve the appointment of Solaiman Al-Jibreen in the board of directors to represent the Pension Fund; Mohammed Al-Issa as representative of the General Organization for Social Insurance (GOSI); and Ahmed Al-Khateeb for the board's current session that will end on April 30, 2015. The assembly is also expected to approve the report of the external auditors and the closing accounts for the fiscal year that concluded on Dec. 31. The profitability of the group's share has during 2013 gone down from 0.22 to 0.34 riyals. The losses of the first quarter of the current year included provisions to settle debts amounting to SR12.4 million and also to face losses resulting from the halting of ongoing projects worth SR6.9 million. The group will also have to pay SR10.7 million as a result of terminating the contractual relationship with the managing director (CEO) and the financial controller. The losses have adversely affected expenditure on sales, marketing, administrative expenses and the revenues of major operations. The losses also included exceptional expenses of SR20.5million that were allocated to finance the restructuring of some sectors of the group.