Latest news with #SaudiIndustrialInvestmentGroup
Zawya
04-08-2025
- Business
- Zawya
Saudi: SIIG's net profits plunge to $10.13mln in H1-25
Riyadh - The net profits of Saudi Industrial Investment Group (SIIG) hit SAR 38 million in the first half (H1) of 2025, lower by 58.69% year-on-year (YoY) than SAR 92 million. Earnings per share (EPS) amounted to SAR 0.05 as of 30 June 2025, versus SAR 0.12 in H1-24, according to the financial results. Financials for Q4-24 In the second quarter (Q2) of 2025, SIIG logged net profits valued at SAR 20 million, an annual drop of 68.75% from SAR 64 million. On a quarterly basis, the Q2-25 net profit climbed by 11.11% from SAR 18 million in January-March 2025. During the 12-month period that ended on 31 December 2024, SIIG posted 79.46% YoY higher net at SAR 201 million, compared to SAR 112 million. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Arab News
04-06-2025
- Business
- Arab News
Closing Bell: Saudi main index closes in green before Eid holidays
RIYADH: Saudi Arabia's Tadawul All Share Index climbed on Wednesday, gaining 172.1 points, or 1.59 percent, to close at 11,004.53. The total trading turnover on the benchmark index was SR4.61 billion ($1.23 billion), with 191 listed stocks advancing and 50 declining. The Kingdom's parallel market Nomu surged by 257.9 points to close at 27,307.74. Meanwhile, the MSCI Tadawul Index edged up by 1.67 percent to 1,406.49. The best-performing stock on the main market was Saudi Industrial Investment Group, with its share price surging 7.03 percent to SR17.36. The share price of ACWA Power Co. also rose by 6.72 percent to SR269.80. Al-Babtain Power and Telecommunication Co. saw its stock price increase by 5.40 percent to SR5.40. Conversely, the share price of Saudi Steel Pipe Co. fell by 6.33 percent to SR56.20. Saudi Research and Media Group also saw a dip, with its share price easing 2.26 percent to SR127. On the announcements front, Saudi National Bank completed its offer of Saudi riyal-denominated Additional Tier 1 sukuk, with the settlement finalized on June 3. According to a statement on the Saudi Exchange dated May 11, the issuance was conducted through a private offer to eligible investors in the Kingdom. The total value of the sukuk offering amounted to SR1.73 billion. The bank issued 1,730 sukuk, each with a par value of SR1 million. The sukuk will offer an annual return of 6 percent from the issue date until June 3, 2030. The share price of Saudi National Bank increased by 0.88 percent to close at SR34.45. The announcement coincided with the implementation of the unified regulation for cross-border registration of investment funds among Gulf Cooperation Council countries, which came into effect in 2025, according to the Capital Market Authority. The regulation outlines requirements for registering and marketing investment funds across GCC countries and introduces a dedicated regulatory guide. It aims to clarify procedures for handling both local and Gulf-based funds, enhance financial market services, and reduce regulatory challenges. Additionally, the framework seeks to support mechanisms that attract international investments to the Saudi financial market and boost foreign ownership in investment funds. The broader goal is to improve liquidity in regional financial markets, enhance the competitiveness of GCC economies, and foster integration by unifying the policies and systems governing domestic, regional, and foreign investment activities. The regulation also aims to ensure a transparent and stable investment environment. Under the framework, the legislative committee in each host country will have the authority to set standards for approving fund registrations and supervising funds within its jurisdiction, including overseeing the appointed agent and their interactions with investors. Cross-border registration must be conducted through the capital market authorities of both the fund's country of origin and the host country. The regulation allows investment funds established in any GCC member state to be promoted in other countries applying the framework. It also outlines the process for offering Saudi funds in Gulf markets, with a focus on aligning with regulatory review mechanisms and cross-border registration requirements to ensure full compliance with approved guidelines.
Reuters
27-05-2025
- Business
- Reuters
Major Gulf markets mixed on Trump's tariff uncertainty
May 27 (Reuters) - Gulf stock markets were mixed on Tuesday, with Saudi Arabia's main Tadawul index (.TASI), opens new tab retreating 0.78% as investor sentiment remained fragile on the unpredictability of U.S. President Donald Trump's trade policies. Trump announced a postponement of his threatened 50% duties on the European Union on Sunday, providing a boost to futures markets. A deadline for July 9 has been set to allow for talks between Washington and the 27-nation bloc to produce a deal. Nasdaq futures rose 1.67% and S&P 500 futures climbed 1.49%. Oil prices - a catalyst for the markets in the Gulf - were little changed, with Brent crude futures up 11 cents, or 0.2%, by 0640 GMT, as markets await clarity on the OPEC+ group's next move at a meeting later this week. O/R In Saudi Arabia, Saudi Arabian Refineries Company ( opens new tab lost 3.44%, while Saudi Industrial Investment Group ( opens new tab was down 3.38%. But markets in the United Arab Emirates traded higher, with Abu Dhabi's benchmark index (.FTFADGI), opens new tab up 0.11% and Dubai's main share index (.DFMGI), opens new tab gaining 0.23%, and hitting its highest level since July 2008. Amlak Finance ( opens new tab was Dubai's biggest gainer, up 6.10%, after the company announced a board meeting later this week to discuss significant corporate actions, including asset sales and a potential exit from its real estate finance portfolio. Qatar's benchmark stock index (.QSI), opens new tab fell 0.29%, logging losses for a second straight session. Qatar National Bank ( opens new tab,the largest bank in the region by assets, was down 0.64%, and Qatar Fuel Company ( opens new tab retreated 0.67%.
Argaam
26-05-2025
- Business
- Argaam
Edaa applies capital reduction for SIIG
The Securities Depository Center Co. (Edaa) implemented today, May 26, a reduction in securities for Saudi Industrial Investment Group (SIIG) in the accounts of eligible shareholders. According to data available with argaam, SIIG shareholders approved on a 10% capital decrease to SAR 6.8 billion from SAR 7.5 billion, for exceeding business needs, during an extraordinary general meeting (EGM) held recently. Shareholders will be compensated for the cancelled shares by the distribution of SAR 754.8 million, at the rate of SAR 10 per cancelled share.
Zawya
07-02-2025
- Business
- Zawya
SIIG generates $53.6mln net profits in 2024, quarterly profit unchanged YoY
Riyadh: Saudi Industrial Investment Group (SIIG) registered net profits of SAR 201 million in 2024, a 79.46% year-on-year (YoY) increase from SAR 112 million. The earnings per share (EPS) rose to SAR 0.27 in 2024 from SAR 0.15 in 2023, according to the annual financial results. It is worth highlighting that the company follows the equity method when accounting for its investments in the joint venture companies; therefore, the sales/revenue and gross profit items do not appear in the profit/loss statement. Financials for Q4-24 In the fourth quarter (Q4) of 2024, SIIG's net profits stood at SAR 11 million, maintaining the same level when compared to Q4-23. On a quarterly basis, the Q4-24 net profit signalled a dropping of 88.77% from SAR 98 million in Q3-24. It is worth mentioning that during the first nine months (9M) of 2024, SIIG recorded net profits of SAR 190 million, marking an 88.11% increase from SAR 101 million in the same period of 2023.
