Sector News

Riyadh – Mubasher: Saudi Cable Company named Fawaz Mubarak Al Muqbel as its new CEO as of 17 April 2024, according to a bourse disclosure. Al Muqbel succeeded Nael Samir Fayez, who was appointed as the company’s CEO in February 2023 and currently …

Riyadh – Mubasher: Saudi Cable Company has appointed Sabri Alghamdi as the new Chairman of the company upon the board’s resolution on 7 April 2024, which built on the ordinary general meeting’s (OGM) approval on 3 April. The company also announced …

Riyadh – Mubasher: Obeikan Glass Company appointed Abdullah Abdulrahman Al Obeikan as its Chairman for three years. The company also announced Abdullah Muhammad Al Humaidhi as Deputy Chairman, according to a bourse filing. The board members …

Riyadh – Mubasher: Almuneef Company for Trade, Industry, Agriculture and Contracting announced the resignation of its CEO, Hisham Saleh Nasser Al Tuaimi. Al Tuaimi resigned from his position, on 3 April 2024, due to his health conditions, …

Riyadh – Mubasher: WESCOA and Saudi Transformers Company, a subsidiary of Electrical Industries Company (EIC), penned agreements valued at SAR 158 million with Saudi Electricity Company (SEC). The subsidiary will supply electrical equipment to SEC …

Riyadh – Mubasher: The board of Astra Industrial Group has proposed the distribution of SAR 200 million in cash dividends for 2023. The recommended dividends are equivalent to SAR 2.50 per share, to be paid to 80 million eligible shares, according …

Riyadh – Mubasher: Saudi Power Transformers Company, a subsidiary of Electrical Industries Company (EIC), has signed a SAR 125.77 million contract with Larsen &Toubro Saudi Arabia. The agreement includes a purchase order for the supply of …

Riyadh – Mubasher: Saudi Ceramic Company swung to a loss in 2023, recording a net loss of SAR 210.35 million, against a net profit of SAR 173.92 million a year earlier. Revenues shrank 11.45% YoY to SAR 1.31 billion last year from SAR 1.48 …

Riyadh – Mubasher: Saudi Arabian Amiantit Company signed a settlement agreement with Saudi National Bank (SNB) for SAR 313 million facilities due to the bank at a 50% discount. Amiantit paid only SAR 156.5 million from the proceeds of the capital …

Riyadh - Mubasher: Waja Company signed an agreement with the Saudi Finance Ministry at an estimated value of SAR 49.45 million on 20 March 2024. The deal covers the technical framework subscription project for the supply and installation of …

Riyadh – Mubasher: Saudi Ceramic Company has extended the term of a preliminary non-binding agreement with Eczacıbaşı Yapı Gereçleri A.Ş (EYAP), a subsidiary of the Turkish Eczacıbaşı Group, until the end of 2024. Throughout the year, the two …

Riyadh – Mubasher: Egypt Gulf Elevators and Escalators Company, a subsidiary of the Saudi Arabian Mayar Holding Company has signed two contracts with Total Air Projects Company with a total value of EGP 840 million. The contracts include supplying …

Riyadh – Mubasher: Saudi Arabian Amiantit Company has signed six contracts for its 100%-owned subsidiaries with several contractors at a total value of SAR 174 million. The contracts include supply and installation of pipes for several strategic …

Riyadh – Mubasher: Electrical Industries Company’s (EIC) board of directors approved the distribution of SAR 84.37 million, or SAR 0.075 per share, in cash dividends for the second half (H2) of 2023. The distribution date is 24 April 2024 and the …

Riyadh – Mubasher: Electrical Industries Company (EIC) achieved net profits amounting to SAR 201.03 million in 2023, higher by 113.48% year-on-year (YoY) than SAR 94.17 million. The company generated revenues valued at SAR 1.55 billion as of 31 …

Riyadh – Mubasher: The net profits of Riyadh Cables Group Company surged 47.36% YoY to SAR 518.49 million in 2023 from SAR 351.86 million. Revenues grew 14.20% YoY to SAR 7.82 million last year from SAR 6.85 million, according to the annual …

Riyadh – Mubasher: Gas Arabian Services Company signed two contracts with Saudi Power Procurement Company at a total value of around SAR 598.01 million. The first contract includes providing engineering, procurement, and construction (EPC) works …

Riyadh – Mubasher: Bawan Company recorded an annual drop of 16.46% in net profit to SAR 136.04 million during January-December 2023, compared to SAR 162.85 million. The revenues inched down by 0.37% year-on-year (YoY) to SAR 3.35 billion in 2023 …

Riyadh – Mubasher: The net profits of Astra Industrial Group edged up by 0.21% to SAR 475.32 million in 2023 from SAR 474.31 million a year earlier Revenues amounted to SAR 2.85 billion last year, up 10.19% from SAR 2.59 billion in 2022, according …

Riyadh – Mubasher: Gas Arabian Services Company has received two non-binding letters of intent (LoI) from Saudi Arabian Oil Company (Aramco) to carry out engineering, procurement, and construction (EPC) works for a total of SAR 760.87 million. The …

Riyadh - Mubasher: Saudi Lime Industries Company penned a conditional binding with Astra Industrial Group and Tharawat Mining Company to fully acquire Astra Mining Limited Company. The parties agreed to complete the transaction within three months …

Riyadh - Mubasher: Waja Company inked a SAR 97.91 million contract on 21 February 2024 for 10 months, according to a bourse disclosure. The deal covers the implementation of rehabilitation, engineering systems, and information technology systems …

Riyadh – Mubasher: The board of Raoom Trading Company greenlighted cash dividends valued at SAR 4.68 million for the fourth quarter (Q4) of 2023, according to a bourse statement. The firm will pay a dividend of SAR 0.75 per share for 6.25 million …