Saudi Advanced Industries Company (SAIC) was founded in 1988 to invest in hi-tech companies, particularly those that were being set up as part of the offset programs agreed with major Western defense equipment suppliers.

Its investments so far include Al-Salam Aircraft Company (10 per cent) and Aircraft Accessories & Components Company (10 per cent), both products of the first offset program with the US. The largest shareholding is in the Al-Kharj-based Saudi Company for Military Uniforms & Accessories at 20 per cent.

It has an 8 per cent share in Gulf Salt Manufacturing Company and 1.33 per cent in Nabati, the local vegetable oil manufacturer. SAIC has taken a small minority stake in Arabian Industrial Fibers Company (Ibn Rushd).

As an investment company, SAIC has a small staff complement and is based in Riyadh. It has yet to record significant profits. A loss of SR 692,000 ($185,000) was recorded in 1996. In 1997, losses grew dramatically to SR 23.

2 million ($6.2 million), largely as a result of provisioning for the declining value of investments of SR 23.9 million ($6.4 million). Sales more than doubled to SR 1.9 million ($500,000) from SR 739,000 ($197,000) in 1996.

Net operating income stood at SR 790,000 ($211,000) in 1997 after being in the red in 1996. By the end of the year, total assets stood at SR 82.1 million ($21.9 million) some 22 per cent down on the SR 105.

2 million ($28.1 million) reported at the end of the previous year. Income fell by 20 per cent in 1998 to SR 1.6 million ($430,000). However, a net profit of SR 704,000 ($188,000) was recorded in the year.

Accumulated losses of SR 27 million ($7.2 million) were carried forward on the balance sheet.

Individuals	N/A
Institutions	5%
Floating	N/A
Government	N/A

	2004	2003	2002
Total Assets	98,904	99,721	100,218
Shareholder's Equity	96,340	97,504	98,107
NIAT	-1,164	-604	4,566
Dividends	N/A	N/A	N/A

	2004	2003	2002
Assets Growth	-0.82%	-0.50%	4.58%
Earning Growth	0.00%	0.00%	32.55%
ROaA	-1.17%	-0.60%	4.66%
ROaE	-1.20%	-0.62%	4.77%
No. Of Shares	2,160,000	2,160,000	2,160,000
EPS	-0.54	-0.28	2.11
EPS Growth	0.00%	0.00%	32.55%
Payout Ratio	N/A	N/A	N/A

	Trailing
PE
PB
DVPS
Div Yield
EV
EV/Equity

The information is this section is provided by SHUAA Capital PSC. The information contained in this section is not intended to be an offer, a recommendation, or a solicitation to buy or sell securities or investment products.

The information and opinions contained in this section have been compiled from, or arrived at in good faith, from sources believed to be reliable but no guarantee or warranty is made by SHUAA Capital or AME Info as to the accuracy or completeness of the information contained herein.

All opinions expressed herein are subject to change without notice.

Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC.

© SHUAA Capital PSC. All rights reserved.