Deputy Governor of the Saudi Arabian Monetary Agency and Chairman of the Board of Directors of the Arab Petroleum Investment Corporation (APICORP) Dr. Muhammad bin Sulaiman Al-Jasser chaired in Jubail today a board meeting in which APICORP’s final account for FY2004 was approved. A net profit of almost U.S.$56 million was shown, and a decision taken to recommend distribution of $22.5 million to shareholding countries, equivalent to 5 percent of the capital. APICORP’s assets had risen to $2.7 billion by the end of FY2003 and shareholders' rights increased to $593 million by the end of FY2004, as compared to $531 million the year before.

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