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SEDCO Newsletter Quarter 4, 2015
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  Vision   Arabic
 
Sep
 
  A Message from Management   Our Achievements   Awards   Events   About Employees   CSR   Riyali
 
  A Message from Management  
 
  photo   CEO Message

Dear Readers,

The fourth quarter of 2015 saw continued volatility in both domestic and international markets and ended, what was overall, a very challenging year. Despite these difficulties, SEDCO Holding Group was able to show robust performance against this tough backdrop by achieving healthy profitability across most key investment asset classes. Our profitability from direct and real estate investments grew whilst financial investment results were anaemic compared to market benchmarks. In fact, the solid performance in direct and real estate investments helped the Group counter the effects of the challenging financial investment returns.

We were able to drive better operating performance both at the holding level and in respect of our direct investment portfolio. Focus has been on promoting intercompany synergies, improvement of liquidity management, enhancing risk procedures to ensure capital protection, better managing expenses and implementing proper governance in the businesses acquired earlier in the year. We have also continued to pursue business development efforts, exploring new mergers and acquisition opportunities to take advantage of the market dynamics. In real estate, we were able to secure new income generating assets, dispose of others as necessary and take steps to advance our development efforts. From a corporate social responsibility perspective, I am also proud to say that we have spearheaded several community initiatives this quarter including SEDCO Green Environment, Volunteer Your skills, and Riyali Online.

Much of the achievement can be attributed to the hard work and dedication of our employees during the year and in particular the last quarter. The steadfast effort, exceptional teamwork and shared vision has resluted in SEDCO Holding Group recently being awarded the eighth best place to work in Saudi Arabia, moving up from eleventh position last year. I would like to thank each and every one of you in making this happen. It says a lot about our organisation and what we need to do together to continue to move forward.

Looking forward into 2016, the economic conditions are likely to remain challenging which should create opportunities to pursue. Looking further ahead, we need to be cognizant of technological advances, demographic changes and global economic shifts and the interplay between them. As a Group we must be ready to confront these challenges head on and look upon them as an opportunity to adapt for the better and reposition ourselves for market share growth. This will necessitate a shift in our mind-set, with a view to re-evaluate and improve the way we do and conduct business. All the while we must remain true to our values, be responsive to our stakeholders and ensure we continue to take concrete steps to align our broader mission to our goal of wealth and value creation whilst striving to serve our community.

Again, I would like to thank you all for your positive contribution to the achievements of 2015 and look forward to working with you in driving the business forward in 2016. I am positive that with your continued dedication, hard work and team spirit we will remain at the forefront of leading regional corporates and attain new heights and achieve new milestones in the years ahead.

Anees Moumina
CEO
SEDCO Holding Group