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STC Develops Performance Indicators to Enhance Service Quality

STC Develops Performance Indicators to Enhance Service Quality
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STC Develops Performance Indicators to Enhance Service Quality

STC Develops Performance Indicators to Enhance Service Quality

Saudi Telecom Company (STC) is working to improve the quality of telecommunications services in the country, after announcing yesterday that it has issued a new update to regulate the quality of service provided by licensed telecommunications service providers.

STC revealed Thursday that the new update includes organizing the standards and key performance indicators of landline and mobile telecommunication services in addition to advanced internet services for end users.

In this regard, Saudi Arabia Communications and Information Technology Commission clarified that the new update will become applicable starting the fourth quarter of 2018.

"This aims at developing ICT services, providing high quality communication services to subscribers and enhancing transparency among subscribers through the dissemination of benchmark data for service providers and guaranteeing a minimum quality of telecommunications services to subscribers; which is a key element in stimulating digital transformation to achieve the objectives of the National Transition 2020 Program, Kingdom Vision 2030 ».

Regarding the mobile telecommunication services, the latest STC report revealed that the number of mobile services users reached by the end of last year around 40 million subscribers, while the prepaid subscriptions reached around 74.8 percent. The report noted that the number of landlines reached 3.6 million by the end of last year.

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Saudi Transport, Logistics Sector Set for 10% Growth in Q2

An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)
An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)
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Saudi Transport, Logistics Sector Set for 10% Growth in Q2

An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)
An investor monitors a trading screen at the Saudi financial market in Riyadh. (AFP)

As Saudi companies start reporting their Q2 financial results, experts are optimistic about the transport and logistics sector. They expect a 10% annual growth, with total net profits reaching around SAR 900 million ($240 million), driven by tourism and an economic corridor project.

In Q1, the seven listed transport and logistics companies in Saudi Arabia showed positive results, with combined profits increasing by 5.8% to SAR 818.7 million ($218 million) compared to the previous year.

Four companies reported profit growth, while three saw declines, including two with losses, according to Arbah Capital.

Al Rajhi Capital projects significant gains for Q2 compared to last year: Lumi Rental’s profits are expected to rise by 31% to SAR 65 million, SAL’s by 76% to SAR 192 million, and Theeb’s by 23% to SAR 37 million.

On the other hand, Aljazira Capital predicts a 13% decrease in Lumi Rental’s net profit to SAR 43 million, despite a 44% rise in revenue. This is due to higher operational costs post-IPO.

SAL’s annual profit is expected to grow by 76% to SAR 191.6 million, driven by a 29% increase in revenue and higher profit margins.

Aljazira Capital also expects a 2.8% drop in the sector’s net profit from Q1 due to lower profits for SAL and Seera, caused by reduced revenue and profit margins.

Mohammad Al Farraj, Head of Asset Management at Arbah Capital, told Asharq Al-Awsat that the sector’s continued profit growth is supported by seasonal factors like summer travel and higher demand for transport services.

He predicts Q2 profits will reach around SAR 900 million ($240 million), up 10% from Q1.

Al Farraj highlighted that the India-Middle East-Europe Economic Corridor (IMEC), linking India with the GCC and Europe, is expected to boost sector growth by improving trade and transport connections.

However, he warned that companies may still face challenges, including rising costs and workforce shortages.