NO. 14


Saudi Arabia

Threefold Increase in NIC's 1988 Net Profit

The National Industrialization Company (NIC) of Saudi Arabia in 1988 recordeda net profit of SR7.362mn ($1.91mn), up 226.5% from SR2.255mn ($0.6mn) in 1987,according to the company's 1988 Annual Report which has recently beenreleased. NIC's total assets fell to SR355.8mn in 1988 from SR359.6mn in 1987,while shareholders equity grew to SR344.4mn from SR338.5mn in 1987. At the sametime total funds invested by...