NO. 46


Saudi Arabia

SABIC Reports $952mn Net Income for 1989

The Saudi Basic Industries Corporation (SABIC) has reported a net income(before zakat) for 1989 of SR3.57bn ($952mn), a drop of 3.0% from 1988's netincome of SR3.68bn ($981mn), according to SABIC's 1989 Annual Report. From this, SABIC allocated SR2.5bn to fully pay up its authorized capital of SR10bn.SR500mn, (or SR5 per share) was paid out in dividends, a provision of SR200,000was set aside for zakat, and...