Saudi AAGH group tops Forbes ranking
Riyadh, June 16, 2013
Abdullatif Alissa Group Holding Company (AAGH), the pioneer of automotive sales, service, financing and leasing in Saudi Arabia, has been named 10th in the ‘Top 100 Making an Impact in the Arab World’ ranking by Forbes.
Abdullatif Alissa Group Holding has been recognised for its social contribution, governance, transparency, size and legacy, said Forbes, one of the world’s leading providers of reliable business news and financial information, in its review.
The Forbes survey looked at unlisted, private companies across the Arab World, with a particular focus on those companies seen to be contributing to social development, charities and charitable work and to companies adjudged to be supporting economic growth in their home countries and the wider region.
The criteria for the ranking included transparency in financial information in terms of operations and business results, quality of sustainable CSR programs, global presence and size, the number of years of trading, social interactivity, charitable initiatives and the size of the CSR and overall expenditures, said Forbes.
Since AAGH’s inception by the late Sheikh Abdullatif Al Issa in the 1940’s, the company has evolved substantially from its original focus in textiles and foodstuff trading, the company said in a statement.
Today AAGH is a diversified conglomerate boasting of annual revenue exceeding SR4 billion ($1.06 billion) and around 3,000 employees. Besides importing top motor vehicles into the kingdom, the company also incorporates servicing, financing and leasing services.
AAGH has further diversified its investments and business development activities within the industrial and real estate sectors, it added.
Commenting on the recognition, CEO Nasser Al-Qahtani said: "We are honoured to be ranked 10th among ‘Top 100 Making an Impact in the Arab World’ by Forbes. We cherish the values that Forbes considers to be critical for successful companies in the 21st Century: transparency, corporate governance and corporate social responsibility."
"At AAGH we constantly invest to develop our service offering and our organizational culture. We promote accountability, responsibility, transparency and strive to ensure that all our people work in a cohesive, efficient and ethical manner toward a shared goal," he remarked.-TradeArabia News Service