Prince Alwaleed: “We are proud of our accomplishment which we dedicate to the Kingdom Saudi Arabia”
Kingdom Holding Company (KHC), Chaired by HRH Prince Alwaleed bin Talal is the number one company in Saudi Arabia among the companies with a non-governmental stake in them, and was ranked 3rd on the list of 100 Biggest Companies in Saudi Arabia for the year 2007 with revenues totaling SR6 billion, and only 46 employees. Prince Alwaleed has a 95% majority ownership of KHC and 5% of the company is owned by the public, both women and men. The top two other companies although publically listed, have a majority ownership by Saudi governmental entities. 70 % of SABIC and over 74% of Saudi Electricity Company are owned by governmental entities. The ranking is based on the annual list of “Saudi Arabia`s 100 Top Saudi Companies” compiled by Arab News and Al Iqtisadiya published on Wednesday, 28 November 2007. Both newspapers are published by the Saudi Company for Marketing & Research.
HRH Prince Alwaleed commented: “We thank God Almighty for this accomplishment that Kingdom Holding Company has sustained, and we dedicate it to the Kingdom of Saudi Arabia.”
Kingdom Holding Company has maintained a leading national rank for a number of years. It ranked second in 1998, 1999, 2001 and 2002, came in first in 2000, and returned to first place in 2003, 2004, 2005 2006 and third in 2007.
This year`s ranking adds to an impressive list of recognitions that both Prince Alwaleed and KHC have received recently. Earlier this month, KHC won `Best IPO of the Year` and its Chairman HRH Prince Alwaleed Bin Talal was granted the `Outstanding Contribution to the Saudi Arabian Economy` award by the Institute for International Research (IIR), Middle East. In June of this year KHC received `Most Admired Company` and HRH `Man of the Year` by Arabian Business, during the Arabian Business Saudi Achievement Awards. Moreover, Arabian Business voted KHC Number 1 for the past three years in its Top 50 Most Admired Arab Companies rankings and voted Prince Alwaleed the Number 1 in its list of 100 Most Powerful Arabs in the World. Institutional Investor magazine recently named KHC as the Arab world`s premier investor and Prince Alwaleed one of the individuals in its 40 Years of Power and Influence survey.
KHC was founded in 1980 where initially the Company focused on construction and development activities. Today, KHC is one of the worlds most successful and diversified business organizations, highly respected in the field of investment and recognized as an elite player in the Arabian Gulf region and internationally.
KHC`s portfolio is predominantly focused on three key growth value added sectors; banking & financial services, real estate and hotels and hotel management, although KHC also has interests the Technology Media and Telecommunications, retail, tourism, consumer and healthcare and industrial sectors. The portfolio contains many famous brands including Citigroup, Samba, Savola, NIC, SRMG, Fairmont Raffles Hotels, Four Seasons Hotels, Movenpick Hotels & Resorts, News Corporation, Time Warner, Songbird Estates (Canary Wharf, London), Apple, PepsiCo, Procter & Gamble, Hewlett Packard, Motorola, Walt Disney Co and Eastman Kodak. In addition to its public company activities, KHC is also extremely active in the area of private equity in Saudi Arabia and developing markets within the Middle East, Africa and Asia.
KHC`s spectacular investment success has been driven in large part by KHC`s bold, concentrated, perceptive investments in high-quality businesses with undervalued assets and a belief that long-term view is appropriate for most investments. The dramatic growth and turnaround shown by KHC`s portfolio companies is a validation of KHC`s careful evaluation methods and investment decision making process. KHC`s enviable success is also a reflection of the depth and expertise of its management team which operates under world class corporate governance standards and is distinguished by its leading international business practices. Despite its international presence, KHC has continued to invest in its local market not just commercially in the banking, hotel and construction sectors but also in health, education and social services in order to give something back to Saudi Arabia.