HONDA/AHCL
During his recent visit to Saudi Arabia, Satoshi Aoki, chairman of the Honda Motor Company (HMC) and Japanese Automobile Manufacturers’ Association reviewed the performance of its local partner Abdullah Hashim Co. Ltd. (AHCL) and lauded its efforts to maintain the Japanese carmaker’s leading position in the Saudi market. Khalid A. Hashim, member of the AHCL board, welcomed Aoki and a number of Honda’s senior management executives. Hashim updated Aoki on the Saudi market and the AHCL’s current business plans. The meeting discussed future growth plans and agreed to further strengthen the Honda business with a series of measures during the next three years. Aoki expressed his satisfaction on the progress made by AHCL to achieve the highest level of customer satisfaction in sales and after-sales business. Aoki appreciated the deep-rooted relations between the two companies pioneered by Soichiro Honda and Sheikh Abdullah Hashim, more than 55 years ago.
PREMCO
Premco, a subsidiary of Construction Products Holding Company (CPC), recently signed an agreement for supplying precast concrete to Princess Noura University in Riyadh. The deal is valued at SR100 million and will be implemented in 24 months. The precast concrete is required for the construction of the parapet and walkways and precast slabs, required for the automated transport system used by the students within the campus of the university. Faysal Alaquil, CPC director of business development and administrative affairs, said: “We are pleased to be among the qualified companies to carry out works in this pioneering and unique educational institution in the Kingdom, where it will be built by using the best construction materials in accordance to the latest scientific methods in this area.”
BUPA
Bupa Arabia, the Kingdom’s health insurance company, is mounting a campaign against swine flu by organizing a series of awareness seminars for the employees of Bupa member companies to give them general information about the disease and inform them how to protect themselves and their families from contracting swine flu. “These seminars are themed ‘Prevention is Better than Cure’ and our objective is to make Bupa Arabia members aware of the various preventive measures that can be taken,” said Tal Nazer, MD, Bupa Arabia. “As a member of the Bupa Group international network, we can draw on worldwide experience of swine flu outbreaks and we believe it is our responsibility to utilize this unique global data resource for the benefit of our members.” Conducted by Dr. Sherif A. Mahmoud Afifi, the first seminar was a two-day event held at the Jeddah Marriott Hotel for groups of Samaco employees.
EMAAR
Emaar Middle East, a premier property developer focused on lifestyle projects in Saudi Arabia, is showcasing its diverse development portfolio at premier hotels in the Kingdom as part of its Ramadan activities. It is sponsoring the Ramadan activities at Jeddah Hilton and Sheraton Dammam. The company has set up special booths showcasing Jeddah Gate, Al Khobar Lakes and Emaar Residences at the Fairmont Makkah — the three key projects of Emaar Middle East. The Ramadan pavilions of Emaar Middle East will continue through Sept. 22, from 5pm to 11pm, with the venues specifically chosen to welcome guests from all over Saudi Arabia including families who visit the hotels. Alaa Abdullah Saed, CEO, Emaar Middle East, said: “The month of Ramadan celebrates the spirit of togetherness and Ramadan activities are hugely popular venues for families to meet and interact. Through our sponsorship of the Ramadan activities, we are reaching out to a wide cross-section of potential customers.”
KPMG
Intercompany pricing is under intense scrutiny as many governments worldwide search for new sources of tax, according to a KPMG survey. The study reveals new or expanded transfer pricing (TP) regulations in Asia-Pacific, more focus on TP in Eastern Europe and Africa, and a step-up in audit activity in all regions. Many governments around the world are extending and tightening controls over cross-border transactions between companies within the same group, as they look for new sources of tax revenue, KPMG’s survey on Global Transfer Pricing Services practice has found. Businesses operating in countries such as China, Greece and Vietnam now have to contend with new or greatly expanded transfer pricing regimes, while virtually all the larger economies which already have transfer pricing regulations in place, are intensifying their audit programs and tightening their rules. The survey looks in detail at transfer pricing regulations in 60 countries.
HAWKAMAH
The Hawkamah Institute for Corporate Governance and the Union of Arab Banks (UAB) named the international jury experts who will assess submissions of the Hawkamah-UAB Bank Corporate Governance Award to be announced in November 2009 in Dubai. The award is being presented with the support of MasterCard Worldwide. Jury panel members include Professor Andrew Chambers, who has extensive experience in corporate governance, risk management and internal auditing. Alan McIntyre, who has 30 years of experience in financial assurance and public offerings, will also be on the jury panel. The jury panel of elite members has been put together to evaluate the award applications. Hawkamah and UAB will not participate in the decision-making process. Dr. Nasser Saidi, Member of the Board, Hawkamah said: “In light of the global economic downturn, Hawkamah would like to reiterate the importance of implementing good corporate governance principles and practices. We look forward to receiving applications for the 2009 award.”
SABB
The SABB (Saudi British Bank) has launched a new service for payment of Ministry of Interior (MOI) charges via SADAD payment system. This service enables customers to pay governmental fees charged for the services offered by the MOI, such as passport charges, civil status and traffic charges. The service also allows for the automated retrieval of charges through electronic channels such as SABB Net and SABB Direct. Nabil Al-Hoshan, GM, personal financial services, said: “It is always our aim to introduce products which support our leading role in the field of banking services, and to provide flexibility to our customers in their banking business using latest technology. The MOI’s payment service is a step forward in the bank’s policy to provide highest personal banking services to meet the requirements and needs of our customers.”
PETROCHEM/3POINTS
The National Petrochemical Company (PETROCHEM) through a letter of appreciation has referred to the efforts of 3POINTS Advertisement Agency, Riyadh Branch, for making a success of the company’s campaign related to the initial public offering for raising its capital. 3POINTS, the recipient of a number of prizes and certificates of gratitude, is a Saudi company, managed by competent personnel for the last 10 years. It has won a number of advertising innovation prizes in the Kingdom, and elsewhere in the Gulf and World. With its offices in Riyadh, Jeddah and Dubai, it was recently ranked among the top 100 fastest growing companies in the Kingdom.
ASDA’A
ASDA’A Burson-Marsteller, the region’s PR consultancy, has been named the MEA’s PR Agency of the Year at the 2009 International Business Awards. ASDA’A B-M was selected from the 1,700-plus submissions received from over 30 countries. The International Business Awards include 40 categories spanning the communications, marketing, management and corporate worlds. The award, for work implemented between January 2008 and May 2009, was presented at a gala ceremony on Monday, at the St. Regis Hotel, New York. Andrew Goldberg, chairman of US corporate and financial practice, B-M, accepted the award on behalf of ASDA’A B-M. Sunil John, chief executive, ASDA’A B-M, said: “The International Business Awards represent international recognition of our efforts and successes.”
