SABIC says takes 350 million riyals impairment on steel unit

28/01/2018 13:04 AST

Saudi Basic Industries Corp (SABIC) said on Sunday it took a 350 million riyals ($93.34 million) impairment on its steel unit, Hadeed, in the fourth quarter and still sees challenges in the steel market.

SABIC CEO Yousef al-Benyan told a news conference that he was optimistic about the outlook for 2018, as an increase in oil prices reflect positively on petrochemical prices.

Benyan also said the company can self-finance the acquisition of a nearly 25 percent stake in Clariant, which was announced last week.

SABIC, the world's fourth-biggest petrochemicals company, reported an 18.6 percent drop in fourth-quarter net profit on Sunday, citing lower output and sales.


Reuters

News

Riyad Capital REIT to distribute $4m dividends

28/01/2018

Riyad Bank, one of the largest financial institutions in Saudi Arabia, said its investment banking arm is set to distribute dividends worth SR15 million ($4 million) to the unitholders of its real es

Trade Arabia

Riyad REIT announces CMA approval to changes to the Board of Directors

14/11/2017

Riyad REIT Fund announces Capital Market Authority approval on 12/11/2017 for changes to the Board of Directors effective on the 12th of November 2017. The changes will be as the following:

Tadawul

RiyadREIT signed sale and purchase agreemnt with Higher Education Fund

15/10/2017

Riyad REIT announces that on 12/10/2017 the fund signed a sale and purchase agreement with the Higher Education Fund to acquire the building of Saudi Electronic University located in Ar Rabi district

Tadawul

Most Viewed Companies

Ticker Price Volume

Valuation

RIYADREIT Sector Market
P/E
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
ALRAJHIREIT 8.08 -0.04 (-0.50%)
JADWAREITSAUDI 10.91 -0.04 (-0.37%)
BONYANREIT 9.18 0.04 (0.43%)
SEDCOCAPITALREIT 6.15 -0.02 (-0.33%)
ALAHLIREIT1 6.38 -0.02 (-0.32%)

Recent News

Tahweel in deal with Tasnee to acquire Saudi industrial group for $186m

04/03/2026

Saudi Holding Company for Conversion Industries (Tahweel Holding) has entered into a deal with leading petrochemical group Tasnee to acquire 100% of the share capital of its entity - Al Rowad Industr

Trade Arabia

Acwa, GS Inma in race for Bahrain's Hidd Independent Water Project

04/03/2026

Bahrain's Electricity and Water Authority (EWA) has announced that it has received bids from leading utility developers - Saudi group Acwa (formerly Acwa Power) and Spanish major GS Inima Environment

Trade Arabia

Air Arabia extends scheduled flight suspensions to Wednesday

04/03/2026

Sharjah-based Air Arabia on Tuesday extended its scheduled flight suspension to and from the UAE until 3pm UAE time on Wednesday, March 4, 2026.

The budget carrier added that flights to Leba

Khaleej Times

Emaar says malls, hotels, development projects 'operating normally'

04/03/2026

Emaar Properties on Wednesday said all of its malls, hospitality assets, and development projects were "operating normally" as its sales more than doubled year-on-year in the first two months of 2026

Khaleej Times

OQEP profits reach OMR941 million in 2025

03/03/2026

OQ Exploration and Production (OQEP) on Monday announced its audited financial results for the financial year to 31 December 2025 and an update to its strategy. The financial highlights indicate that

Times of Oman

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap