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13
December
SIIG's Board of
Directors (BOD) held
a meeting to discuss the expected financial results for the year ending
31/12/2006 and next year's plan. BOD expected
that the net profits will be about SAR 550
Million, the Board announces the declaration
of SAR 225 Million
to be distributed as dividends (1 SAR per share) to shareholders
registered on the Companies records at Tadawul on the end working day of
Saturday 16/12/1427H corresponding to
06/01/2007 G. The Company could pay more but the Board deferred more
distributions due to followings: Note: The dividend will only be distributed after approval of the Annual General Meeting to be announced at a later date. |
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11
November
SIIG net income from the start of the year till 31/10/2006 is estimated to be around (482) Million Riyal compared to (375) Million Riyals from the same period last year.
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10 October 2006 SIIG announces its results for the third quarter of 2006 with net profits after Zakat of 438 Million Saudi Riyals compared to last year's third quarter of 339 Million Saudi Riyals. Complete Results of the quarter can be found here.
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9 September
SIIG net income from the start of the year till 31/8/2006 is estimated to be around (389) Million Riyal compared to (275) Million Riyals from the same period last year.
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7 August SIIG net income from the start of the year till 31/7/2006 is estimated to be around (330) Million Riyal compared to (232) Million Riyals from the same period last year.
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9 July 2006 SIIG announces its results for the second quarter of 2006 with net profits after Zakat of 254 Million Saudi Riyals compared to last year's second quarter of 204 Million Saudi Riyals. Complete Results of the quarter can be found here.
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In response to our shareholders requests, SIIG intends on publishing its initial results on a monthly basis.
Thus, the net income from the start of the year till 31/5/2006 is estimated to be around (200) Million Riyal compared to (180) Million Riyals from the same period last year. But, please note that last year the SCP plant was shut down for one full month for scheduled maintenance.
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SIIG's Ordinary &
Extraordinary General Assembly resulted in the approval of all the
recommendations by the shareholders as follows:
Mr. Abdulaziz
Zaid Al-Quraishi (Chairman)
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SIIG announces
that it will hold its upcoming ordinary and extraordinary General
Assembly meetings on Tuesday the
(
a. Acceptance of
the
b. Acceptance of
the
c. Exonerate
Board members for the d. Acceptance of the suggested Financial Auditor for the next year and his fees
e. Election
of Board Members for the next three years (starting
(
The increase of
the paid-in capital of SIIG from SR 1.8 Billion to SR 2.25 Billion by
distributing stock dividends of SR
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8 April 2006 SIIG announces its results for the first quarter of 2006 with net profits after Zakat of 130 Million Saudi Riyals compared to last year's first quarter of 128 Million Saudi Riyals. Complete Results of the quarter can be found here. |
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5 Mar 2006
SIIG announces that PIF Board of Directors
has approved a 3,000 Million SR loan to finance SIIG's third project (NCP).
The total cost of the project is estimated to exceed 14,000 Million SR.
The residual financing should be raised later on through other loans and
through equity leverage of around 2,000 Million SR worth of shares. |
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5 Mar 2006 SIIG announces its annual audited results as of 31/12/2005 with a net income after Zakat of 413 Million Saudi Riyals. Complete audited financial statements can be found here. |
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28 Jan 2006
SIIG has learned that it has been included in the lawsuit that has been raised by the Saudi Arabian Refiner Company, requesting the return of SIIG shares from another investor it had originally sold them to. |
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10 December 2005
SIIG Board of Directors announced today that after viewing the expected results for the year 2005, which is expected to include Retained Earnings of 427 Million Saudi Riyal and 113 Million SR in Reserves, that it will recommend to the General Assembly the following: 1. No cash distribution for this year. 2. An increase in the company's capital by converting the Retained Earnings and Reserves to Capital, thus rasing the number of shares from 36 Million to 45 Million shares ( 1,800 Million SR to 2,250 Million SR), to be done by issuing one free share to every four shares owned by current shareholders
With regard to the other increase in capital needed for the Company's third project, SAMBA has been chosen as the Financial Advisor for the project. SAMBA will also be responsible for the actual execution of both the rights issue and public offering.
After the study is done and the premium has been set, SIIG will know the number of shares needed for the capital increase and will approach the required government agency in order to obtain approval, which will then be presented to the company's general assembly which is expected to be held in the second quarter of 2006.
The board would also like to remind its shareholders that the feedstock allocation for the third project requires that 50% of our capital increase will be allocated to the current shareholders and the other 50% will be offered to the general public. |
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8 October 2005
SIIG announces its results for the first nine months of 2005 with net profits after Zakat of 339 Million Saudi Riyals compared to last year's results of 384 Million Saudi Riyals. Complete Results of the quarter can be found here. |
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11 July 2005
SIIG announces its results for the first half of 2005 with net profits after Zakat of 204 Million Saudi Riyals compared to last year's results of 175 Million Saudi Riyals (16% Increase). Complete Results of the quarter can be found here. |
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12 April 2005 Results of the SIIG General Assembly’s meeting, which took place on Tuesday night April 12, 2005. With the blessing of Allah, the meeting was successfully concluded with the approval of the following: (1) The declaration of SR 4 per share as dividends to the shareholders, that is, 8% of the paid-in capital of SIIG. These dividends will be distributed as of next week by direct transfers to the bank accounts of the shareholders who have investment portfolios attached to their accounts. The portfolios are recorded at the Saudi Stock Registration Company. For the shareholders who do not have this kind of portfolio will be sent a check at their mailing addresses available at the Saudi Stock Registration Company. (2) The increase of the paid-in capital of SIIG from SR 1.2 Billion to SR 1.8 Billion by distributing stock dividends of SR 600 Million, that is, granting 1:2 stocks, to each shareholder. This will increase the number of shares from 24 million shared to 36 million shares. The dividends shall be distributed directly to the shareholders’ portfolios on Wednesday April 13, 2005. In addition, the board of directors gave a briefing on the deal with ARAMCO on providing raw materials to SIIG in its third project. They also mentioned that one of the Ministry of Petroleum & Minerals’ conditions on this deal is for SIIG to divide the expected increase in capital as 50% to current shareholders and 50% to public offering. That condition is also to be applied to other companys, in the interest of the public. SIIG will be working on specifying the amount of capital needed and the expected premium and in turn the number of new shares to be issued. SIIG will apply to the concerned Government agencies to approve the increase in capital and the premium in mid-2006. The expected total cost of the third project is currently estimated to be around SR 11.3 Billion and the financing plan would require that the equity must at least (25% - 30%) of the total cost divided equally between SIIG and the foreign partner. |
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9 April 2005
SIIG announces its results for the first quarter of 2005 with net profits after Zakat of 128 Million Saudi Riyals compared to last year's first quarter of 61 Million Saudi Riyals . Complete Results of the quarter can be found here. |
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9 April 2005
SIIG reminds its shareholders of the upcoming Shareholders meeting on Tuesday the 12/4/2005. To be held at the Riyadh Marriott Hotel. |
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8 March 2005
SIIG announces that it has received approval for the increase in capital from both the Capital Market Authority and the Ministry of Commerce, which will be presented to Shareholders during the upcoming meeting on the 12/4/2005 |
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12 February 2005
SIIG Board of Directors announces its recommendation for the upcoming Shareholders meeting scheduled for the 12th of April 2005.
The recommendation are as follows: - Dividend payment of 4 SR per share. - Increase in the companies capital by distribution of shares on a ratio of 1 free share per 2 shares. This of course will be after the request is approved by the necessary authority. |
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17 January 2005
SIIG announces its results for the forth quarter of 2004 with net profits after Zakat going up 166% from 208 Million Saudi Riyals last year to 554 Million Saudi Riyals this year. Complete Results of the quarter can be found here. |
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1 January 2005
SIIG's Board of Directors advises the general assembly to distribute 8% of its stocks' book value, equal to 4 SR per share.
This advisement is based on the Board's review of the companies un-verified financials statements for 2004 that show profits of 550 Millions SR (compared to 207 Million SR for 2003)
The announcement also noted that even though the company profits are around 22 SR per share, The Board felt that it is important to maintain a high level of liquidity in order to fund the companies upcoming projects, especially in its initial stages and before the start of other financing options. |
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17 January 2005
SIIG announces its results for the forth quarter of 2004 with net profits after Zakat going up 166% from 208 Million Saudi Riyals last year to 554 Million Saudi Riyals this year. Complete Results of the quarter can be found here. |
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1 January 2005
SIIG's Board of Directors advises the general assembly to distribute 8% of its stocks' book value, equal to 4 SR per share.
This advisement is based on the Board's review of the companies un-verified financials statements for 2004 that show profits of 550 Millions SR (compared to 207 Million SR for 2003)
The announcement also noted that even though the company profits are around 22 SR per share, The Board felt that it is important to maintain a high level of liquidity in order to fund the companies upcoming projects, especially in its initial stages and before the start of other financing options. |
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10 October 2004
SIIG announces its results for the first nine months of 2004 with net profits after Zakat going up 148% from 155 Million Saudi Riyals last year to 384 Million Saudi Riyals this year. Complete Results of the first nine months can be found here. |
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21 July 2004
Jubail Chevron Philips signed the commercial financing agreements with SAMBA Financial Group, Riyad Bank, Arab National Bank, Banque Saudi Fransi, Saudi Hollandi Bank and the Saudi Investment Bank. This financing also included Gulf International Bank, Sumitomo Mitsui Banking Corp. and Arab Petroleum Investments Corp.The total amount for this financing is 1,725 Million Saudi Riyals (460 Million USD). This signing follows the recent finalization of the financing provided by both the Public Investment Fund and the Saudi Industrial Development Fund.
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17 July 2004
SIIG announces its results for the first half of 2004 with net profits after Zakat going up 40% from 125 Million Saudi Riyals last year to 175 Million Saudi Riyals this year. Complete Results for first half can be found here.
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21 June 2004 The Saudi Industrial Investment Group announced in a joint statement with Chevron Philips Company the awarding of the construction of Jubail Chevron Philips Project to the Japanese Company JGC. The total cost of the project is SR4,500 Million Saudi Riyals, out of this amount SR400 million Saudi Riyals for expansion of Saudi Chevron Philips, to increase production capacity of Benzene, and an amount of SR4,100 Saudi Riyals for Styrene Project which will produce a total of 715,000 ton of Styrene and 140,000 ton of Propylene and 300,000 ton of Gasoline. The commercial operation of the project is expected to start in the second half of 2007. |
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19 May 2004
SIIG announces the start of its dividend payment for 2003 Profits. |
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12 May 2004 The board of directors of the Saudi Industrial Development Fund (SIDF) approves two loan totalling SR800 million (eight hundred million Saudi Riyals) for Ethyl/Benzene and Styrene projects, which the company intends to execute in cooperation with Chevron Philips Chemicals company under the name Jubail Chevron Philips. It is worth mentioning that, the projects itself obtained approval from the Public Investment Fund to offer a loan of SR1,350 million (one thousand three hundred and fifty Saudi Riyals).
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