Governor of Qassim: STC is our strategic partner in implementing our new technical initiative
HRH prince Faisal bin Mishaal Al Saud, governor of Qassim, stated that “Saudi Telecom Company (STC) services emulates the best global peers, and we see innovation and quality of services on our national company”.
After signing the technological agreement between the governorate and the company, in addition to launching several technological agreements in the governorate, his highness added: “ we value and thank STC for the services offered and yet to offer in Qassim and all around the kingdom, it is truly the strategic partner on which we depend to implement different initiatives specially regarding IT security and antiviruses, STC will participate largely in the smart technical transformation which we strongly seek to provide convenient service for nationals and residents and to create integrated smart and paperless environment, we in the governorate of Qassim in cooperation with STC are the pioneers in activating this trend which complies with the goals of 2030 vision”.
In his speech he stressed on that: “we are on the era of technological challenges and we have no choice but to deal with it as the means of progress, praising the partnership between the IT department in the governorate and STC, emphasizing the importance of joint work and integrity between government agencies and projects to accomplish the desired aim”.
From his side, Nasser Al Nasser, Technology & Operations SVP, thanked the prince for his evaluation of STC services stressing that:” this is a strong motivation to continue and improve the work in the region and all around the kingdom in order to accomplish our government`s endeavors to improve technology services, mentioning the allocation of SR80mn to improve Qassim infrastructure. He added:” the cooperation with Qassim governorate is the best model of partnership between public and private sectors.
He stated that the partnership with Qassim governorate aims to transfer it to a smart region including: telecom services, network connections, IT, crises management, IP telephony, smart zone project, DDos.
The agreement was signed by Dr. Abdurrahman Alwazzan from Qassim governorate and Suleiman Al Nasser form STC, attended by seniors from the public sector in the region and Dr. Mohammad Al Nasser, Qassim Distract Director.
Jul 16, 2017 12:00:00 AM Asia/RiyadhSTV being established with $500 million from STC
The company has intentions to be a serious world-class player in the space and today STV has been approved with a size of $500 million, making it the largest institutional technology venture capital fund in the Middle East. STV will have complete independence and will deploy independent governance and operational models that are designed in accordance with international best practices allowing it to leverage STC’s assets to enable its investments and the surrounding ecosystem to grow and scale. STV will be managed by a leading team of top regional and international talent in this field.
"We are very proud of this historic step by STC, which will be a pivotal turning point for the region's technology ecosystem," said Dr. Khaled Biyari, Chief Executive Officer of STC. "Global telecoms have two choices - to either change and evolve into digital companies or to convert into a utility. We have elected to go down the first route. STC has the potential, resources and strategic assets to make a quantum leap in the technology and entrepreneurial sectors it is working on transforming,” Biyari added.
"We believe the region can create its own future and we will invest in the next generation growth engines that will make this happen," said Abdulrahman Tarabzouni, Chief Executive Officer of STV. "The centers of gravity for growth and value across the world’s economies and industries will undergo profound transformations due to technology disruptions, and we believe STV will create value for STC and the region amidst these transformations.”
May 25, 2017 12:00:00 AM Asia/RiyadhSTC Net Income for the 1st quarter increased 5.4% to reach SR 2.5 billion compared to the same quarter last year, and distributes SR 1 per share dividends for the 1st quarter
Saudi Telecom Company (STC) today announced the company’s interim financial results for the period ending at 31 March 2017
STC group net income for the 1st quarter of 2017 increased 5.4% compared to the comparable quarter last year, and increased of 21.3% compared to the immediate prior quarter. Earnings Per share for the 1st quarter grew to reach SR 1.26 compared to SR 1.20 for the comparable quarter last year.
In accordance with the approved dividend policy for three years starting from the 4th quarter 2015 which was announced on 11 November 2015, and have been ratified during the General Assembly Meeting on April 4th 2016, STC will distribute a total of SR 2,000 million in cash dividend for Q1 2017, representing SR 1 per share.
Commenting on the results, STC Group CEO, Dr. Khaled H. Biyari, stated: “The financial results achieved for the 1st quarter of 2017 reflects the efforts being made to constantly evolve, improve and develop the company’s strategy and operations and achieve the best returns for the shareholders. Despite the various difficulties facing the sector, company sponsored programs contributed to improve operational efficiency and cost control leading to improved income and margins. Therefore, net income for the 1st quarter increased 5.4% compared to the comparable period last year. Also, net income for the quarter increased 21.3% compared to the immediate prior quarter as the company managed to reduce the cost of revenues by 4.3% and reduce operating expenses by 13.6% compared to the previous quarter.”
Dr. Biyari, added: "STC continues to invest in digital platforms to provide unique and innovative services to customers, both individuals and businesses. This goes along with the world economy direction towards the digital economies, also comes under the Kingdom's Vision 2030 and the national transformation plan 2020 and its pursuit of serious transition to the digital economy because of its positive impact on people's lives in health, education, cultural aspects and everything that touches people's lives. The company operates through an integrated program of digital transformation for all internal processes, in addition to digitizing various services both in service delivery and after sales services. As an example, the company recently launched "JAWWY" as an innovative mobile service that provides integrated digital platform for STC customers. In this context, the company also had several meetings with different sectors in the Kingdom to achieve homogeneity of employing modern technology with these sectors both in terms of health, education, financial transactions and other sectors. STC is going in this direction, and monitor the great progress in digital communications and its impact on changing the nature of the Telecom sector. Hence the importance of STC's vision, to continue to adopt initiatives to invest in the development of non-traditional communications infrastructure, especially the transition to digital services, cloud computing services and managed data services with great emphasis on information security.”
May 07, 2017 12:00:00 AM Asia/RiyadhDr. Abdullah Bin Hasan Alabdulqader is the STC’s Chairman of the Board of Directors
Saudi Telecom Company (STC) announced Dr. Abdullah Bin Hasan Alabdulqader as the STC's Chairman of the Board of Directors during the first meeting in its sixth session that been held on the evening of Monday, 15/7/1436 H corresponding to 04/05/2015 AD, and naming the Sub-committee depending on the functions and the approved authorities.
It is worth mentioning that Dr. Abdullah bin Hassan Alabdulqader is a member of number of other boards of directories and commissions. He is a head of Advisory Committee in the Capital Market Authority, and a member of Quality of Assurance Committee in the Organization for Certified Public Accountants. Dr. Alabdulqader worked as a professor at King Fahd University of Petroleum and Minerals, and was a member first Council administration of STC, and was a member of the first board of the Capital Market Authority, and Dr.Alabdulqader holds a Bachelor and Master of Business administration from King Fahd University of Petroleum and Minerals, and a PhD from the University of Colorado, USA.
May 05, 2015 12:00:00 AM Asia/Riyadh
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