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MarketScreener Homepage  >  Equities  >  SAUDI ARABIA STOCK EXCHANGE  >  Saudi Basic Industries Corporation SJSC    2010   SA0007879121

SAUDI BASIC INDUSTRIES CORPORATION SJSC (2010)
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Saudi Basic Industries Corporation : SABIC eyes further growth in Asia, as Singapore Minister of State visits company headquarters

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04/06/2013 | 09:51am CEST
SABIC eyes further growth in Asia, as Singapore Minister of State visits company headquarters 30/03/2013

The Saudi Basic Industries Corporation (SABIC) is seeking to expand collaboration with the business sector in Singapore, and to continue to be a reliable source of quality products and services to Asia. This strong interest in Singapore and Asia, SABIC's largest market, was conveyed by Prince Saud bin Abdullah bin Thenayan Al-Saud, Chairman of SABIC and the Royal Commission for Jubail and Yanbu, and Mohamed Al-Mady, SABIC Vice Chairman and CEO, to Lee Yi Shyan, Singapore Senior Minister of State, Ministry of Trade and Industry, and National Development, during his visit to SABIC headquarters in Riyadh on March 20.

SABIC's Asia operations, which have been experiencing strong double digit growth, are headquartered in Singapore. The two sides exchanged views on how to further these business relations, with Singapore being the hub of SABIC's regional operations.

In comments after the discussions, Prince Saud said that SABIC is proud and privileged to partner with Singapore's vibrant business sector. "Saudi Arabia has had an excellent history of relations with Singapore, and has seen many high level visits from both sides. We are experiencing a growing trend in these relations and SABIC is well positioned to be part of this growth story," he said.

For his part, Al-Mady said that Singapore's strategic location facilitates easy access to Asian markets. "It makes it easier for us to conduct business with our customers in the region, adding value to our regional operations and helping us grow. Moreover, Singapore's skilled workforce and advanced infrastructure strongly supports our long-term goals for growth in Asia, and creates value for our customers," he said.

Besides its headquarters in Singapore, SABIC's Asia operations are spread across 40 offices in the region, with three Technology and Innovation facilities. Asia is SABIC's fastest growing region globally.

The Minister of State was accompanied by Desmond Ng, Charge d' Affaires Ad Interim; Francis Chong, Ministry of Trade and Industry Director; Goh Wee Hong, Building and Construction Authority Deputy Director; Feroz Siddiqui, International Enterprise Singapore Center Director; Khalil Abu Bakar, Economic Development Board Center Director; Desmond Chua, Ministry of Trade and Industry Assistant Director; Guo Weimin, First Secretary; and Akshay Kothari, Embassy Officer.

Samir Al-Abdrabbuh
Vice President, Corporate Communications

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Financials (SAR)
Sales 2018 169 B
EBIT 2018 36 651 M
Net income 2018 21 904 M
Finance 2018 8 116 M
Yield 2018 3,89%
P/E ratio 2018 15,31
P/E ratio 2019 14,76
EV / Sales 2018 2,15x
EV / Sales 2019 2,01x
Capitalization 371 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 14
Average target price 123  SAR
Spread / Average Target -0,33%
EPS Revisions
Managers
NameTitle
Yousef bin Abdullah Al-Benyan Vice Chairman & Chief Executive Officer
Abdulaziz bin Saleh M. Al-Jarbou Chairman
Khalid Al-Garni Executive Vice President-Finance
Abdullah Mohammed bin Ibrahim Al-Issa Independent Director
Khaled Hamza Nahas Independent Director
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