Borrower view: Sabic’s CFO, Mutlaq Al Morished – Ingredients for a new world order

The world’s most profitable chemicals company, and possibly soon to be its biggest, has ploughed ahead with big expansion plans despite the credit crisis, making more use of Islamic and local capital markets. Dominic O’Neill talks to Sabic’s CFO, Mutlaq Al Morished.

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SABIC (Saudi Basic Industries Co)

CEO: Mohamed Al Mady

CFO: Mutlaq Al Morished

Ownership: 70% held by the government of Saudi Arabia; 30% available to Saudi and GCC citizens on the Saudi stock exchange

Headquarters: Riyadh, Saudi Arabia

Products: basic chemicals comprising olefins, aromatics and oxygenates, as well as the intermediate products and derivatives

Financing this year: $4 billion in local stock exchange flotation (May) and $6 billion in syndicated loan with Islamic and conventional tranches (expected to close early December) for the Saudi Kayan petrochemicals project; $7.6

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Borrower view: Sabic’s CFO, Mutlaq Al Morished – Ingredients for a new world order

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