2005 News Story

APICORP meeting held in Jubail

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.