Saudi Telecommunications Company (STC) has received the Saudi Stock Companies Transparency Award. The award was recently presented to Saudi Telecom by BMG Financial Advisers for the company's “continuous and transparent communications with regional and international financial analysts, financial research companies and investors in and outside the Gulf region.” The company was cited for “its position as one of the biggest and most important companies in the Middle East.” In October 2007, STC created an Investor Relations Unit to respond to the interest shown by investment companies and financial analysts around the world, with the objective of enhancing the transparency of communications between STC and global financial circles. The Unit's mission is to communicate the company's strategic direction and financial performance, provide leading investors with information related to their investments, and respond to investors' inquiries. The Unit is also committed to providing local, regional and international financial analysts and investment portfolio managers with the quarterly and annual financial lists as soon as they published, supported by analytical studies.
