Apr 13 2010 |
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Al Rajhi Capital issues comprehensive research report on Saudi Arabian Food Sector, initiates coverage of Almarai and Savola with overweight rating
Riyadh: Al Rajhi Capital , the investment banking subsidiary of Saudi Arabia's Al Rajhi Bank, announced that it has issued a comprehensive report from the firm's Research Department on the Saudi Arabian Food Sector.The 40-page report, which can be viewed in full on the Al Rajhi Capital website (www.alrajhi-capital.com), provides an in-depth look at the performance and projections for the sector and valuations for top industry players.
Al Rajhi Capital initiates coverage of two of the Saudi Arabian market's leading food companies, Almarai , the top local and GCC-wide dairy producer, and Savola , a leading food producer, retailer and investor, with "Overweight" ratings. Together Almarai and Savola account for 79% of the aggregate market capitalisation of the food sector, which is currently approximately SAR 51.1 billion as of the end of March 2010.
In terms of trends in key market segments, Al Rajhi Capital 's report anticipates:
The report also provides specific valuations of key company stocks including a full analysis of Almarai and Savola , which it believes still offer considerable value to investors. Al Rajhi Capital launches coverage of the market's leading food producers with the following recommendations:
Commenting on the report, Dr. Saleh Al-Suhaibani, Head of Research at Al Rajhi Capital said: "Research is a critical part of the investment process and we're pleased to be able to provide investors with independent analysis and in-depth views into growing industry sectors such as this. Our clients are increasingly looking for value and greater insight into the markets and we are confident that the calibre of research provided by Al Rajhi Capital can give our clients the information they need to more effectively evaluate their investment decisions and manage their portfolios."
Over the coming year, and in line with Al Rajhi Capital 's broader plans to further expand its client services, the firm will continue to strengthen the scope of its research coverage. In addition to providing comprehensive sector analysis, Al Rajhi Capital 's Research Department will also issue in-depth equity research reports on individual companies across multiple industry sectors.
Al Rajhi Capital is a leading provider of a broad range of investment banking services including research, brokerage, asset management, arranging and underwriting, private equity, advisory and custodial services. Its market leading position is underscored by a number of industry awards over the years for excellence and innovation.
The full report is available on the
Al Rajhi Capital
website: www.alrajhi-capital.com
-Ends-
About
Al Rajhi Capital
:
Al Rajhi Capital
Company is the independent, wholly owned investment subsidiary of Al Rajhi Bank, the world's largest Islamic bank and the largest commercial bank in the GCC region in terms of market capitalization.
Headquartered in Riyadh, King Fahad road,
Al Rajhi Capital
is a Limited Liability company organized and existing under the laws and regulations of Saudi Arabia and operates under the Authorized Persons Regulations with license number 07068-37 granted by the Capital Market Authority and provides securities-related services, including brokerage, asset management, arranging, underwriting, private equity advisory and custodial services.
For media inquiries, please contact:
Al Rajhi Capital
Marketing & PR
T: +966 (0) 1 211 9419
FinMark Communications
Zahraa Taher
T: +973 770 22 550
M: +973 39630997
FinMark Communications
Laila Danesh
T: +44 (0) 20 7887 7869
M: +44 770 333 0024
© Press Release 2010
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