Please paraphrase this paragraph: Al-Masafi Saudi Arabia Company(SARCO), established in 1960, with a capital of 150...

Please paraphrase this paragraph:

Al-Masafi Saudi Arabia Company(SARCO), established in 1960, with a capital of 150 million Saudi Riyals. The main company activity is to carry out all petroleum business activities, including the purchase of liquidated marketing, importation, exportation of petroleum distribution, including crude oil and petroleum products, its derivatives at home and abroad, implementation of commercial and industrial projects, land and utilities reform, transport and water, import and trade of materials and equipment. The company has participated in some projects: 1- Contribution to Riyad Bank: Riyadh Refineries Company (2400) shares. 2-Contribution to the Saudi Industrial Investment Group: The company owns the shares of the Saudi Industrial Investment Group with a share of 3.38% and a number of (15,194,480) shares, and there are a lot of projects that the company has participated in. The United Accountants (RSM) reviews the financial statements of the company each year

Expert Solution

Al-Masafi Saudi Arabia Company(SARCO) was established in 1960 with a total capital investment of 150 million Saudi Riyals. Company is in all major petroleum business like purchasing of liquidated marketing, import and export of petroleum distribution, which includes crude oil and petroleum products along with its derivatives at home as well as abroad. THe company is also involved in implementation of commercial and industrial projects, land and utilities reform, transport and water, import and trade of materials and equipment.

Company has participated in several major projects. Some hightlighted projects of company along with its shares are below:

1-Riyad Bank: Riyadh Refineries Company (2400) shares.

2-Saudi Industrial Investment Group: The company owns the shares of the Saudi Industrial Investment Group with a share of 3.38% or 15,194,480 shares

The auditor of the company is The United Accountants (RSM).

jeff jeffy answered 2 years ago

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