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- stc Group posts robust growth for 2024; revenue soars to $20bn
- Saudi king, crown prince donate SR150 million to Jood Regions campaign
- Emsteel launches new programme to expand product portfolio
- Ahlibank holds annual ordinary and extraordinary general meetings
- QU president calls for revising financial incentives to attract investments to Gulf
- Nesma JV to deliver King Salman International Airport package
- DP World sets new record in 2024 handling 1.3m vehicles
- Commercial Bank launches Barzan Leadership Development Programme for employee empowerment
- Chinese mainland investors drive surge in Hong Kong stocks
- Saudi PIF-backed developer draws $126bn in IPO orders
08/01/2018 11:20 AST
Saudi Telecom Co (STC) has obtained a 1.51 billion ringgit ($378.5 million) Islamic loan through its Malaysian subsidiary, according to a document from arranging banks.
Saudi Telecom, the Gulf's largest telecommunications operator by market value, will use the Islamic loan to refinance existing debt originally used to acquire a stake in Malaysian mobile-phone firm Maxis.
STC, through its subsidiary STC Malaysia Holdings, owns a 25 percent stake in Binariang GSM Holdings which in turn holds a controlling stake in Maxis, according to the company's financial statements.
STC Malaysia Holdings hired Bank of Tokyo-Mitsubishi UFJ (Malaysia), HSBC Amanah Malaysia and Standard Chartered Bank Saadiq to arrange the deal.
The syndicated financing uses a sharia-compliant structure known as commodity murabaha, where one party agrees to purchase merchandise from a counterparty which promises to buy it back at an agreed mark-up at a later date.
Bank of Tokyo-Mitsubishi UFJ (Malaysia) will act as the investment agent to manage the cash flows of the facility and to execute the commodity murabaha transactions.
Malaysia is one of the largest markets for Islamic finance, which follows religious principles such as bans on interest and monetary speculation. ($1 = 3.9890 ringgit)
Reuters
27/02/2025
stc Group, a digital enabler, offering advanced solutions and driving a role in the digitalization process, today (February 26) delivered solid results for FY 2024 with a 85% jump in its net profit w
Trade Arabia
07/03/2018
Ericsson has been chosen by Saudi Telecom Company (STC) Group for a major nationwide expansion of its 4G network in Saudi Arabia, including the deployment of LTE Advanced and Narrow Band-Internet of
Trade Arabia
01/03/2018
Saudi Telecom Company (STC) and Cisco have penned a deal designed to pave the way for collaboration for the development of 5G in KSA. The memorandum of understanding (MoU) was signed at the Mobile Wo
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| ETIHADETISALAT | 62.00 | -0.10 (-0.17 |
| ZAIN.KSA | 10.86 | -0.52 (-4.57 |
| GOTELECOM | 99.00 | -1.00 (-1.00 |
28/02/2025
Saudi Aramco has slashed the official selling prices for propane and butane for March, according to a statement released on Thursday.
The new prices are set at $615 per tonne for propane and
Arab News
27/02/2025
stc Group, a digital enabler, offering advanced solutions and driving a role in the digitalization process, today (February 26) delivered solid results for FY 2024 with a 85% jump in its net profit w
Trade Arabia
27/02/2025
Ahlibank held its annual ordinary and extraordinary general meetings on Wednesday.
The meetings were presided over by Ahlibank chairman Sheikh Faisal bin AbdulAziz bin Jassem al-Thani.
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Gulf Times
27/02/2025
Emsteel, one of the largest publicly traded steel and building materials manufacturers in the region, has announced the launch of its Asset Enhancement Programme - a strategic initiative with a CapEx
Trade Arabia
26/02/2025
National Bank of Bahrain (NBB) has reported a 4% growth in its net profit attributable to the shareholders for the year ended December 31, 2024, recording BHD81.9 million ($217.3 million) compared to
Trade Arabia
Financial Information Co.
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