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Reading this news about Aramco being the most profitable company in the world I am very sure our very own GIC and Temasek helmed by the husband and wife team PM Lee and Madam Ho if it ever open its books will surely surpass Aramco by leap and bound.
Aramco is nothing compared to our most talented family running the GIC and Temasek, Singaporeans are so lucky.
https://www.nytimes.com/2019/04/01/business/saudi-aramco-profit.html
Saudi Aramco Is World’s Most Profitable Company, Beating Apple by Far
By Stanley Reed
April 1, 2019
The earnings of Saudi Arabia’s giant oil company have long been a mystery, kept under wraps by the country’s government. But on Monday, Saudi Aramco opened its books, revealing that it generated $111.1 billion in net income last year, making it probably the world’s most profitable company by far.
It handily beat Apple ($59.5 billion in net income in 2018) and ran laps around other oil companies like Royal Dutch Shell ($23.9 billion) and Exxon Mobil ($20.8 billion). The disclosure reveals a company that is hugely profitable but also tightly bound to one country and the price of oil.
Aramco issued the financial data as it prepares to borrow up to $15 billion through a bond sale, in what could signal a more aggressive approach to capital-raising for both the company and Saudi Arabia, which is seeking to cut its dependence on oil and gas revenue.
The money will help finance Aramco’s $69 billion purchase of most of a state-owned petrochemical company from Saudi Arabia’s sovereign wealth fund, whose chairman is Crown Prince Mohammed bin Salman.
Aramco is nothing compared to our most talented family running the GIC and Temasek, Singaporeans are so lucky.
https://www.nytimes.com/2019/04/01/business/saudi-aramco-profit.html
Saudi Aramco Is World’s Most Profitable Company, Beating Apple by Far
By Stanley Reed
April 1, 2019
The earnings of Saudi Arabia’s giant oil company have long been a mystery, kept under wraps by the country’s government. But on Monday, Saudi Aramco opened its books, revealing that it generated $111.1 billion in net income last year, making it probably the world’s most profitable company by far.
It handily beat Apple ($59.5 billion in net income in 2018) and ran laps around other oil companies like Royal Dutch Shell ($23.9 billion) and Exxon Mobil ($20.8 billion). The disclosure reveals a company that is hugely profitable but also tightly bound to one country and the price of oil.
Aramco issued the financial data as it prepares to borrow up to $15 billion through a bond sale, in what could signal a more aggressive approach to capital-raising for both the company and Saudi Arabia, which is seeking to cut its dependence on oil and gas revenue.
The money will help finance Aramco’s $69 billion purchase of most of a state-owned petrochemical company from Saudi Arabia’s sovereign wealth fund, whose chairman is Crown Prince Mohammed bin Salman.
