Latest news with #SARCO
Zawya
22-05-2025
- Business
- Zawya
SARCO appointed as sole authorized distributor for Samsung Consumer Electronics in Oman
Muscat – In a major development, Al Seeb Technical Establishment (SARCO) LLC, in partnership with Samsung, announced a significant strategic development. As of April 1, 2025, SARCO has assumed the role of sole authorized distributor for Samsung Consumer Electronics across all channels and product categories in the Sultanate of Oman. This includes independent retailers, indirect organized retailers, operators, B2B clients, and online platforms. He added, 'Samsung is a trailblazer in innovative and user-centric technology. With the commitment and passion of the SARCO team, we are confident in expanding the brand's reach across Oman and delivering an elevated customer experience that sets new standards in the industry.' © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Muscat Daily
21-05-2025
- Business
- Muscat Daily
SARCO named sole distributor for Samsung consumer electronics in Oman
Muscat – With a broader aim to reshape the consumer electronics landscape in Oman, Al Seeb Technical Establishment (SARCO) LLC has been appointed the sole authorised distributor for Samsung consumer electronics across all retail and business channels in the sultanate. The announcement, effective from April 1. marks a significant upgrade in the partnership between SARCO and Samsung, one that spans over four decades. This was announced during a press conference at the Sheraton Oman Hotel on Monday. This new designation entrusts SARCO with full distribution responsibilities for Samsung's entire lineup of consumer electronics—including refrigerators, washing machines, televisions, audio systems, air conditioners and commercial B2B solutions. It also signals a complete transition from Samsung's earlier Fulfillment Distribution model to a more dynamic Full Distribution model in Oman. Speaking during the press conference, Sanjeev Awasthi, CEO of SARCO said, 'This is a milestone moment in our journey with Samsung. The trust that Samsung has placed in SARCO speaks volumes about our market capability and commitment. This new chapter enables us to bring Samsung's cutting-edge innovations closer to consumers across the country. With this full distribution model, SARCO now has the operational flexibility to offer enhanced services, tighter supply chain integration, and more impactful engagement with retailers and end-users. This will help raise the bar for consumer experience and support.' This new latest decision also brings clarity to the distribution landscape: all previous distribution arrangements with other entities for consumer electronics in Oman have been terminated, consolidating Samsung's representation exclusively under SARCO. The announcement event was attended by prominent figures from Oman's retail sector, government ministries, banking institutions, corporate clients. Awasti added, 'Samsung is a pioneer in smart, user-centric technology. With the passion and expertise of the SARCO team, we are confident in deepening Samsung's presence and delivering a seamless experience for every Omani household and business.' He added that with SARCO at the helm, Samsung's distribution and service ecosystem in Oman is expected to become more responsive, integrated, and locally empowered—ensuring that consumers benefit from world-class technology, backed by reliable, homegrown support.
Argaam
13-05-2025
- Business
- Argaam
SARCO's OGM disapproves board remuneration for 2024
Saudi Arabia Refineries Co.'s (SARCO) ordinary general meeting (OGM) refused to approve SAR 1.74 million board remuneration for the year ended Dec. 31, 2024. In a statement to Tadawul, the company said that shareholders authorized the board of directors to distribute interim dividends for 2025 on a semiannual or quarterly basis. According to data compiled by Argaam, SARCO's board decided in March to withhold dividends for 2024. The company reported a net loss of SAR 53.5 million in 2024, versus a profit of SAR 7.7 million in 2023. Q4 2024 losses stood at SAR 36.5 million.
