Latest news with #ArbahCapital
Asharq Al-Awsat
05-05-2025
- Business
- Asharq Al-Awsat
SABIC Expects Capital Expenditure of $4 Bn in 2025
Saudi Basic Industries Corporation (SABIC), one of the world's largest petrochemical companies, reported a net loss of 1.21 billion riyals ($322.6 million) for the first quarter of 2025, reflecting continued pressure on the global petrochemical sector. Despite this, the company is maintaining disciplined capital investment management, with capital expenditure expected to range between $3.5 billion and $4 billion in 2025. The loss was primarily attributed to a 1.05 billion riyal decline in gross profit, driven by rising feedstock prices, along with non-recurring costs of 1.07 billion riyals linked to a strategic restructuring initiative aimed at streamlining annual costs by approximately 345 million riyals and improving long-term operational efficiency. SABIC CEO Abdulrahman Al-Fageeh, speaking at a press conference following the release of the company's results, highlighted ongoing challenges in the global economy, including a slowdown in global GDP growth. 'The first quarter business environment was marked by uncertainty, with global economic growth at just 2.97%, along with a slowdown in the manufacturing PMI, which intensified challenges for the sector,' he said. Despite the losses, Al-Fageeh noted SABIC's remarkable resilience, supported by what he described as 'stable demand' for petrochemicals. He emphasized the company's continued focus on operational excellence and its transformation efforts throughout the year. SABIC projects its capital expenditure to range between $3.5 billion and $4 billion in 2025, reaffirming its commitment to creating long-term value through operational excellence, transformation, and systematic growth as part of its future vision. Mohammed Al-Farraj, Head of Asset Management at Arbah Capital, commented to Asharq Al-Awsat that initial forecasts from various research firms prior to the results announcement were mixed. While some expected a significant year-on-year drop in net profit, others predicted revenue growth. 'Looking at the reported results, we see that revenue aligned with expectations, indicating slight year-on-year growth, while the reported net loss was smaller than some estimates, which had anticipated larger losses,' Al-Farraj said. 'However, the results still fall short of profits from the same period last year. It is important to consider the impact of one-time restructuring costs when making comparisons,' he explained.
Wamda
12-02-2025
- Business
- Wamda
Buildnow secures $9.7 million investment led by STV
Saudi Arabia-based contech Buildnow has closed a $9.7 million funding round, led by STV and Arbah Capital, with additional funding from a mix of debt financing, reinforcing the company's expansion plans in the market. Founded in 2022 by Hisham Al Saleh, Rahat Dewan, and Abdulla Sheikh, Buildnow is a build-now-pay-later platform that supplies materials on credit terms tailored for the buyer while paying cash upfront to the SME suppliers. The new funding will support the expansion of the company's operations for small and medium enterprises (SMEs) in the construction and building sector. In March, the company closed an initial seed funding round worth $9.4 million, which included $6.5 million in equity and $2.9 million in debt financing. Source: EntArabi Buildnow, a Saudi-based company specialising in supply chain solutions for the construction sector in the Middle East, has announced the successful closure of a new $9.7 million funding round. The round was led by STV and Arbah Capital, with additional funding from a mix of debt financing, reinforcing the company's expansion plans in the market. Buildnow provides 'Build Now, Pay Later' solutions, aiming to support SMEs in the construction industry through a specialised credit management platform and an integrated supply chain network. In March, the company closed an initial seed funding round worth SAR 35.3 million ($9.4 million), which included $6.5 million in equity and $2.9 million in debt financing. Buildnow leverages advanced digital technologies to analyse the financial data, legal status, and market reputation of buyers. This allows the company to offer flexible financing solutions with tailored credit terms while also providing upfront liquidity to SME suppliers. Founded in April 2022 by Hisham Al-Saleh, Rahat Dewan, and Abdullah Al-Sheikh, Buildnow aims to revolutionise construction financing with innovative solutions that foster growth and sustainability.
