STC receives Brand Finance Award as the Most Valuable Brand in the Middle East
At Mobile World Conference (MWC) 2017 Barcelona Spain, STC received Brand Finance award as the most valuable brand in the Middle East. Anthony Kendall, Brand Finance Strategy Director, handed the award to Amjad E. Shacker, STC Corporate Communication GM.
Shacker stated that “The 11% increase in brand value will reflect positively on the future economic value for the group showing the company’s commitment to its customers through continuous development of the business, products, services and innovative solutions in the telecommunications sector. This growth reflects the stature achieved by the customers, shareholders and the reason millions of customers around the world have placed their trust in STC as their telecommunications service provider.” Shacker added “STC is the only Saudi Company that obtained such award in the middle east”.
Brand Finance is the world’s leading independent branded business valuation and strategy consultancy. Headquartered in the City of London and present in over 20 countries. STC ranked number one based on a number of quantifiable attributes, such as the company’s financial performance and sustainability, as well as customers loyalty.
With their headquarters in Riyadh, Saudi Telecom Group is the largest in the Middle East and North Africa based on its market value as it generated over 51,825 billion riyals (13,825 billion dollars) in realizable revenue in 2016 and 8,539 billion riyals (2,277 billion dollars) as net income.
STC was established in 1998 and currently counts about 100,000,000 customers worldwide and to which they provide high-technology knowledge-based innovative solutions. It focuses on providing services to customers through a fiber-optic network that spans 137,000 kilometers across Asia, the Middle East and Europe.
In Saudi Arabia (the group’s main operation site) STC operates the largest modern mobile network in the Middle East as it covers more than 99% of the country’s populated areas in addition to providing 4G mobile broadband to more than 85% of the population across the Kingdom of Saudi Arabia.
Besides its main operation in Saudi Arabia, which it owns 100% of, STC’s investments include 100% ownership in Viva Bahrain, 51.8% shares in Viva Kuwait along with a management contract, 35% shares in Oger Telecom Limited in UAE and which controls Turk Telecom, Avea in Turkey, Cell-C in South Africa, 25% shares in Binariang GSM Holding in Malaysia which controls both Maxis in Malaysia and Aircel in India. In addition to the above-mentioned, STC has investments in information technology, content, distribution, contact centers and real estate, all of which support its telecom operations across the Middle East.