STC CEO Jameel Al-Molhem resigns

Updated 03 February 2013
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STC CEO Jameel Al-Molhem resigns

Jameel Abdullah Al-Molhem, CEO of STC KSA Operations, tendered his resignation to the telecom operator yesterday.
Saudi Telecom Co. (STC) is a Saudi-based telecommunications company that offers landline, mobile and Internet services.
Confirming the resignation, an official from the STC told Arab News that the reasons for his resignation were not known.
Al-Molhem’s resignation follows a string of resignations that occurred last year.
Last April Saud Al-Daweesh, CEO of Saudi Telecom Company (STC) submitted his resignation and STC’s board of directors accepted it effective Oct. 1.
Last August, the company announced a number of changes within its management structure involving executive positions. The STC Group announced that it had accepted the resignation of Ghasan Hasbani from his role as Group CEO-international operations due to the end of the contractual period.
In September, Dr. Ziad Al-Otaibi group CEO for technical operations also resigned. Otaibi’s resignation was preceded by Dr. Saad Bin Dhafer Al-Qahtani Group CEO for strategic affairs .
Last year, Al-Molhem launched the first Drive-Thru Self-Service Machine, at AlShate’ venue in Dammam, that provides more than 35 services for mobile and fixed-line customers, which was considered the first of its kind in the Middle East and boosting STC’s pioneer services among the regional telecom-operators.
“The Drive-Thru Self-Service Machines are considered as one of the latest innovative and advanced solutions STC offers to its customers, and being the pioneer and the sole operator in the region to offer such a distinguished and creative service,” Al-Molhem stated at the time. “Our inauguration comes in-line with STC’s overall strategy to meet our customers’ expectation and needs through direct and instant ease-designed services.
In January, STC reported 6.7 percent increase in revenues reaching SR 59,372 million compared to SR 55,662 million for the previous year. The increase in revenues, is attributed to the growth in Broadband (fixed and mobile), Business and wholesales services domestically and from international operations.
Gross profit for fourth quarter and full year increased by 2.6 percent and 7.2 percent respectively, reaching SR 8,144 million and 33,597 million consecutively compared to same periods the previous year.
The net income for the fourth quarter amounted to SR 468 million compared to SR 2,278 million for the corresponding quarter last year, with a decrease of 79 percent , and for the year, net income amounted to SR 7,350 million compared to SR 7,729 million for the corresponding period last year with a decrease of 4.9 percent.
STC operates through its five business units: Al Hatif, which includes landline services, card phones, public telephones, prepaid card services and business services; Al Jawal, which offers a range of mobile services, including Family Al Jawal, Sawa, messaging services, business services, data services and roaming services; Saudi Net, an Internet provider, STC Online for electronic bills payment services and Saudi Data, a provider of data solutions.


Saudi Arabia's King Salman offers $1m to International Civil Aviation Organization

Updated 8 min 53 sec ago
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Saudi Arabia's King Salman offers $1m to International Civil Aviation Organization

RIYADH: Saudi Arabia’s King Salman has provided $1 million to the International Civil Aviation Organization (ICAO), the Saudi Press Agency reported Monday.

The announcement came as part of the “Kingdom’s efforts in supporting international organizations and bodies and the leadership’s keenness to play an important role in the most important international and regional organizations,” SPA said.

The aid will go towards supporting ICAO’s No Country Left Behind (NCLB) initiative, which aims to assist developing countries in applying the standards and recommended methods for the safety and security of civil aviation.

The aid will also contribute to the costs of translating the organization’s documents and publications into Arabic.

The President of the Kingdom’s General Authority for Civil Aviation (GACA), Abdulhadi bin Ahmed Al-Mansouri thanked King Salman for his support to the aviation sector locally, regionally and globally, 

He said: “this contributes to the development of the aviation industry and to improve the safety and security of civil aviation in developing countries, least developed countries and island states.

The $1 million of financial assistance is an extension of the Kingdom's previous financial support in 2016 which “ the level of safety and security of civil aviation in the Middle East and Africa," Al-Mansouri said.

Olumuyiwa Benard Aliu, the ICAO’s president, thanked the king for the support.