Hyundai’s Palisade & Sonata voted best cars of KSA

Hyundai’s Palisade & Sonata voted best cars of KSA
Bang Sun Jeong, vice president, head of Middle East and Africa operations, Hyundai, poses with the award-winning Hyundai 2020 Palisade and Sonata models.
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Updated 13 January 2021

Hyundai’s Palisade & Sonata voted best cars of KSA

Hyundai’s Palisade & Sonata voted best cars of KSA

Hyundai Motor Company has won two coveted accolades at the PR Arabia National Auto Awards, with its 2020 Palisade and Sonata models being named Saudi Arabia’s best vehicles in their respective categories. 

Voted by more than 150,000 people in the Kingdom, the Palisade model was named the “Best Family SUV” while the Sonata won first place in the “Best Sedan” category in the eighth edition of the awards.

The Palisade and Sonata have both become popular brands across the Kingdom, largely due to Hyundai’s innovative approach in leveraging advanced technologies to boost comfort, convenience and safety for all passengers. 

Launched in 2013, the PR Arabia National Auto Awards recognize the efforts of those working in the automotive industry, and encourage companies to offer the best services to help improve overall customer satisfaction.

Bang Sun Jeong, vice president, head of Middle East and Africa operations, at Hyundai, said: “We are extremely honored to receive these two awards and would like to express our gratitude to PR Arabia for hosting this awards event. We would also like to thank the people who voted for us, our partners and team that have played a part in achieving this success.

“Since the Hyundai Palisade and Hyundai Sonata vehicles were rolled out on the roads, the brands have gone from strength to strength and we are delighted that our efforts in enhancing the models have been recognized by being named the best cars in their respective categories.

“Innovation is at the heart of everything that we do at Hyundai, placing technology at the forefront. With many Hyundai models driven across the Kingdom of Saudi Arabia on a daily basis, we see a bright future in the country and we are determined to create more memorable journeys for our customers in the future.” 

As one of Hyundai’s most popular SUVs, the seven-seater Palisade boasts exceptional second and third-row roominess, generous cargo area and flexible seating. It is also installed with Hyundai’s HTRAC multi-mode all-wheel-drive system, bringing new levels of all-road, all-weather capability, technology, safety, spaciousness, and efficiency. 

Hyundai recently introduced a new range of variants for the eighth-generation Sonata for customers in the Kingdom. The 2.5 GDi model is equipped with an eight-speed automatic transmission with high-efficiency combustion while the Sonata N Line, which will be available at the beginning of 2021, offers an attractive entry point to Hyundai’s N Brand.

Sonata Hybrid passengers can also benefit from the solar roof, which is one of the many advanced features. The car can also be charged for up to 5.8 hours a day, adding 1,300 km per year to the total driving distance. 

Another key feature that is available for Sonata passengers is the abaya sensor, which alerts female drivers if their abaya is stuck in the door. 

Bang added: “Palisade and Sonata have become two iconic models due to their feature-packed infotainment system and the advanced technological features incorporated in the vehicle.

“This award represents the peak of a remarkable year in Saudi Arabia. Thanks to the unwavering support from our customers, we have further cemented our position in the automobile market.”


STC’s Q4 net profit jumps 15.6% to $714m

STC’s Q4 net profit jumps 15.6% to $714m
Updated 25 January 2021

STC’s Q4 net profit jumps 15.6% to $714m

STC’s Q4 net profit jumps 15.6% to $714m

STC’s net profit for the fourth quarter (Q4) of 2020 reached SR2.68 billion ($714 million), an increase of 15.6 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the net profit reached SR11.08 billion, an increase of 3.94 percent.

The revenues for Q4 reached SR15.21 billion — an increase of 14.69 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the revenues reached SR58.94 billion, an increase of 8.43 percent.

The gross profit for Q4 reached SR8.48 billion, an increase of 1.54 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the gross profit reached SR33.99 billion, an increase of 4.96 percent.

The operating profit for Q4 reached SR3.29 billion, an increase of 37.08 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the operating profit reached SR12.81 billion, an increase of 2.69 percent.

The earnings before interest, taxes, zakat, depreciation and amortization (EBITDA) for Q4 reached SR5.716 million — an increase of 14.62 percent compared to the corresponding quarter last year. For the 12-month period of 2020, the EBITDA reached SR22.175 billion, an increase of 4.28 percent.

Nasser bin Sulaiman Al-Nasser, STC Group CEO, said the company has achieved the highest annual revenue in the past eight years. This achievement was primarily due to the increased demand for STC’s services and products, and the company’s ability to meet this demand promptly and efficiently, especially during the COVID-19 pandemic.

The STC Consumer Business Unit’s revenue has grown as a result of 27.5 percent increase in FTTH (fiber-to-the-home) and 10.6 percent increase in broadband subscribers, in addition to a 9 percent increase in data revenue during the current period compared to the previous period.

Further, the Enterprise Business Unit’s revenue has also increased during the 12-month period, by 24.6 percent, due to the company’s ability to provide the necessary support and innovative services to its customers in order to accelerate their digital infrastructure transformation. Despite the challenges faced by the Wholesale Business Unit due to the travel ban and its impact on international roaming revenues, the unit’s revenue increased during 2020 as well. Moreover, the revenue generated by STC’s subsidiaries grew by 13.8 percent during the current year, which contributed positively to achieving these results.

Al-Nasser highlighted STC’s success as a digital enabler for the Saudi G20 presidency, where STC provided critical telecommunications and digital services for all meetings as well as expanded the 5G network by 130 percent to accommodate the increase in digital services during the G20 summit.

Recently, the company launched three mega data centers in Riyadh, Jeddah and Madinah with the aim of enabling the digital transformation of the government and private sectors and strengthening the cloud infrastructure for the local digital economy in the fields of artificial intelligence, Internet of Things and cloud computing, in line with the Kingdom’s Vision 2030 goals.

Additionally, in order to enhance the infrastructure and accelerate the growth of the local digital economy, STC also signed a $500 million non-binding MoU to invest in the field of cloud services with Alibaba Cloud, the digital technology and artificial intelligence arm of the Alibaba Group.

STC Group was re-elected to the board of directors of the Global System for Mobile Communications Association (GSMA), following its win in the elections comprising the world’s 25 top telecommunications companies.

As part of STC’s strategy to support and develop the financial sector in the Kingdom, STCPay signed an agreement with Western Union to sell an equity stake of 15 percent at a value of SR750 million ($200 million), where the proceeds will be used to develop the company and support its expansion plans.