Sabic eyes further growth in Asia
Riyadh, March 31, 2013
Saudi Basic Industries Corporation (Sabic), ranked among the top petrochemical companies in the world, seeks to expand collaboration with the business sector in Singapore, and continue to be a reliable source of quality products and services to Asia.
This strong interest in Singapore and Asia, Sabic’s largest market, was conveyed by Sabic chairman Prince Saud bin Abdullah bin Thenayan Al-Saud and the Royal Commission for Jubail and Yanbu, and vice chairman and CEO Mohamed Al-Mady to Lee Yi Shyan, Singapore Senior Minister of State, Ministry of Trade and Industry, and National Development, during his recent visit to the company headquarters in Riyadh.
Sabic’s Asia operations, which have been experiencing strong double digit growth, are headquartered in Singapore. The two sides exchanged views on how to further these business relations, with Singapore being the hub of the petrochemical giant’s regional operations.
Besides its headquarters in Singapore, Sabic’s Asia operations are spread across 40 offices in the region, with three technology and innovation facilities. Asia is the petrochemical firm’s fastest growing region globally.
During the meeting, Prince Saud said Sabic was proud to partner with Singapore’s vibrant business sector.
“Saudi has had an excellent history of relations with Singapore, and has seen many high level visits from both sides. We are experiencing a growing trend in these relations and Sabic is well positioned to be part of this growth story,” he stated.
In his comments, Al-Mady stated that Singapore’s strategic location facilitated easy access to Asian markets.
“It makes it easier for us to conduct business with our customers in the region, adding value to our regional operations and helping us grow. Moreover, Singapore’s skilled workforce and advanced infrastructure strongly supports our long-term goals for growth in Asia, and creates value for our customers,” he remarked.
The delegation comprised Desmond Ng, Charge d’ Affaires Ad Interim; Francis Chong, Ministry of Trade and Industry director; Goh Hong, Building and Construction Authority deputy director; Feroz Siddiqui, International Enterprise Singapore Center director; Khalil Abu Bakar, director of Economic development board center; Desmond Chua, the assistant director of Ministry of Trade and Industry; Guo Weimin, first secretary and embassy officer Akshay Kothari.-TradeArabia News Service
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