10 things to consider as Tadawul starts trading

Here are a few things you need to know as Saudi stocks start trading on Monday.

1) Saudi Basic Industries Corp (SABIC) is well-placed to finance its US-based venture with ExxonMobil at the lowest cost, backed by its solid financial position and strong credit rating, CEO Yousef Al-Benyan told Argaam.

2) Saudi Industrial Export Co. (SIECO) expects its volume of exports to exceed 160,000 tons of sulphur and 100,000 tons of cement by the end of the year, chief executive Hazem Fahd Al-Dosari told Argaam.

3) Saudi Chemical Co. expects to establish a presence in Europe and the US over the coming three years, along with expanding into new GCC markets, CEO Mohammed Al-Badr told Argaam.

4) Saudi Indian Cooperative Insurance Co.’s (Wafa Insurance) accumulated losses rose to SAR 58.06 million representing 58.06 percent of its capital of SAR 100 million as sales remain weak.

5) Saudi Cement Co.’s net profit fell 22.5 percent year-on-year (YoY) to SAR 200.3 million in the first half of 2018, on lower sales and higher expenses.

6) Nama Chemicals Co. reported a net profit of SAR 51.6 million in H1 2018 compared to a net loss of SAR 6.6 million in the same period last year.

Separately, the firm said its board of directors has amended its previous recommendation to raise capital by SAR 200 million instead of SAR 400 million through a rights issue.

7) National Petrochemical Co. (Petrochem) reported a net profit of SAR 622 million in H1 2018, more than double YoY, driven by higher sales volumes.

8) Saudi Electricity Co. (SEC) reported a net profit of SAR 633 million for H1 2018, a plunge of 91 percent YoY, attributed to non-recurring write off of municipality fees, adoption of IFRS 15 and higher financing charges.

9) Saudi Industrial Investment Group’s (SIIG) net profit rose 36.8 YoY to SAR 520 million in H1 2018, on higher profit share from the National Petrochemical Co. (Petrochem) and lower expenses.

10) Dallah Healthcare Co. posted a net profit of SAR 76.8 million for H1 2018, a slump of 50.45 percent YoY due to higher selling and distribution costs, and increased cost of sales.

Write to Nadeshda Zareen at nadeshda.zareen@argaamplus.com