Saudi Research and Marketing Group

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Saudi Research and Marketing Group
Industry Media; Public and Investor relations
Founded 5 July 1988; 35 years ago (1988-07-05)
Headquarters Riyadh
Key people
 Badr bin Abdullah Al Saud (Chairman)
Azzam M. Al Dakhil (Managing Director)
Products Asharq Al Awsat
Arab News
Al Majalla
Al Eqtisadiah
Revenue SAR 1,066.840 millions (2010)[1]
Owner Al Ahli Capital Fund 13 29.90%
Al Ahli Capital Fund 4 29.90%
Number of employees
 300[1]
Website Official website

Saudi Research and Marketing Group (SRMG) is a Saudi joint stock company registered in Riyadh. The group mainly publishes, prints and distributes various publications.[2]

History

The establishment of the SRMG dates back to 1963 when the first company of the group, Al Madina Printing and Publication Company was founded.[3] Al Madina Printing and Publication Company, later, called Saudi Printing and Packaging Company (SPPC).[4] Hisham Hafiz was one of the founders of the company.[5] Kamal Adham, former head of Saudi intelligence, was also one of the early shareholders of the company.[6]

Next, the company was established in London in 1978.[7] Ten years later, on 5 July 1988, it was registered as a limited liability company in Riyadh and then, converted into a joint stock company in 2000.[8]

The company was listed in the Saudi stock market, Tadawul, 0n 8 April 2006 and therefore, went public.[9][10] In August 2008, an independent board of trustees of the company was formed, making it the first Arab media company with such a body.[9]

Major shareholders

The company has been often related with the Saudi King Salman bin Abdulaziz.[11] However, he is neither the chairman nor the shareholder of the company.

Major shareholders of the SRMG are as follows:[12]

  • Al Ahli Capital Fund 13 29.90%
  • Al Ahli Capital Fund 4 29.90%

From 1989 to his death in 2002, Ahmed bin Salman was the chairman of the company.[11][13][14] Then, his younger brother Faisal bin Salman became the chairman of the company. On 9 February 2013, Turki bin Salman succeeded Prince Faisal as chairman of the SRMG when the latter was appointed governor of the Madinah province.[15] Prince Turki's term as chairman ended in April 2014 when he resigned from the post.[16]

On 13 December 2015 the board of directors appointed Badr bin Abdullah Al Saud as the chairman and an independent member of the board.[17]

Business fields

SRMG is the largest publishing company in the Middle East engaged mainly in providing information products and services by publishing newspapers and magazines across the Middle East and globally.[12] The company owns fifteen daily, weekly and monthly newspapers and magazines,[18] including Asharq Al Awsat, Arab News, Al Majalla, Urdu News, Arrajol and Al Eqtisadiah. Its establishment is regarded as the beginning of the new Saudi media empire.[7] Global Investment House in its 2009 report stated that SRMG newspapers have 29.3% market share in Saudi Arabia.[3]

Additionally, the company also deals with marketing, advertising and distributing services heavily across the MENA region and Europe.[19] SRMG operates in seven countries.[1]

Subsidiaries, associates and joint ventures

Major subsidiaries, associates and joint ventures of SRMG are given as follows:[12]

Company Major activity Country
Al Khaleejiah Advertising and Public Relations Company Advertising and Public relations services Saudi Arabia
Saudi Distribution Company Distribution Saudi Arabia
Arab Media Company Ltd. Printing and publishing Saudi Arabia
Al Ofoq Information Systems and Communication Company Information systems and communication Saudi Arabia
Saudi Research and Publishing Company Research and publishing Saudi Arabia
Saudi Commercial Company Trading in perfumes, household items, and printing supplies Saudi Arabia
Middle East Company Ltd. Printing and publishing United Kingdom
HH Saudi Research and Marketing Company Publishing and distribution United Kingdom
Satellite Graphics Company Printing United Kingdom
Arab Net Technology Ltd. Internet services United Kingdom
Moroccan Printing and Publishing Company Printing and publishing Morocco
Kuwait Group for Publishing, and Distribution Company Ltd. Distribution Kuwait
Emirates Printing, Publishing, and Distribution Company Ltd. Distribution UAE

Auditors

The SRMG is being audited by Pricewaterhouse Coopers.[8][12]

References

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  8. ↑ 8.0 8.1 Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ 9.0 9.1 Lua error in package.lua at line 80: module 'strict' not found.
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  12. ↑ 12.0 12.1 12.2 12.3 Lua error in package.lua at line 80: module 'strict' not found.
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  19. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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