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Archive for October 20th, 2011

SABIC Commits to Nurture Local Talent to Support Growth in Asia

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Extends its talent search to more than 500 universities globally through the sponsorship of a global business challenge competition with National University of Singapore

NEW DELHI, Oct. 18, 2011 /PRNewswire-Asia/ — SABIC makes a commitment to nurture local talent as it continues to expand its presence in Asia. This was announced by Li Lei, SABIC Vice President, Acting Regional Head for Asia Pacific and Regional Head for Greater China, at NUS Cerebration 2011, a global business challenge competition held in Singapore on 15 October 2011.

SABIC was the Principal Sponsor and one of 10 industry judges at the event organized by the National University of Singapore.

The six finalists consisted of teams from top business schools in China, India, the United Kingdom and Canada. Out of the 575 participating teams, Team “Harry Hans” from the London Business School with the topic “Changing Business Environment for Petrochemical Industry” emerged as the winner of the competition, clinching the top prize of US$10,000.

Commitment to Growing in Asia

As one of the world’s leading petrochemical producers, SABIC touches the lives of many as its materials are used to manufacture a wide range of petrochemical products from basic intermediates to medical devices, plastics in electronics and daily necessities, lighter and more fuel-efficient cars, metals and even fertilizers to help feed the world.

With its strong focus on helping customers create products that would improve the quality of life around the world, SABIC is seeking innovative minds as it continues to expand in Asia, the company’s fastest growing region globally, especially in China and India.

Across Asia, SABIC has 41 offices, 9 manufacturing facilities, and 5 technology and application centers, supported by over 2,200 employees across Asia. SABIC’s customers in Asia include leading global and Asian brands across diverse industries operating in this region.

In 2011, SABIC announced various new investments aimed at accelerating its growth in Asia. These investments include a partnership with SINOPEC to build a polycarbonate plant with a capacity of 260 kilo metric tonnes per year; new Technology Center cum Greater China Regional HQ in Shanghai; a new Technology Center in Bangalore, and a series of infrastructural expansions across Asia.

Local Partnership, Local Talent

The success of SABIC lies in its commitment to successful local partnerships and its willingness to harness talents who are keen to make a difference in their home markets. About 90% of SABIC’s workforce in Asia are Asians.

Its commitment to nurturing talent is evident in its on-going initiatives to equip employees with the skills needed to learn and grow in the dynamic petrochemical industry. This also includes a robust talent review process to help its employees realize their full potential in the company.

Li Lei elaborated: “We need great people who are highly motivated and engaged in their roles to help us succeed, and we want to offer them opportunities for personal and professional growth throughout their careers. This helps prepare us to meet current and future business challenges.”

SABIC was certified as one of China’s Top Employers 2011 for its efforts in the development, retention and promotion of talents. This independent research was conducted by the CRF Institute in China.

Note to Editors


SABIC ranks among the world’s top petrochemical companies. The company is among the world’s market leaders in the production of polyethylene, polypropylene and other advanced thermoplastics, glycols, methanol and fertilizers.

SABIC recorded a net profit of SR 21.5 billion (US$ 5.73 billion) in 2010. Sales revenues for 2010 totalled SR 152 billion (US$ 40.5 billion). Total assets stood at SR 317.6 billion (US$ 84.5 billion) at the end of 2010.

SABIC’s businesses are grouped into Chemicals, Polymers, Performance Chemicals, Fertilizers, Metals and Innovative Plastics. SABIC has significant research resources with 18 dedicated Technology & Innovation facilities in Saudi Arabia, the USA, the Netherlands, Spain, Japan, India and China. The company operates in more than 40 countries across the world with 33,000 employees worldwide.

SABIC manufactures on a global scale in Saudi Arabia, the Americas, Europe and Asia Pacific. SABIC’s overall production has increased from 35 million metric tons in 2001 to 66 million metric tons in 2010.

Headquartered in Riyadh, SABIC was founded in 1976 when the Saudi Arabian Government decided to use the hydrocarbon gases associated with its oil production as the principal feedstock for production of chemicals, polymers and fertilizers. The Saudi Arabian Government owns 70 percent of SABIC shares with the remaining 30 percent held by private investors in Saudi Arabia and other Gulf Cooperation Council countries.

About SABIC Asia

SABIC has established its presence in Asia for over 30 years. Today, Asia is SABIC’s fastest growing region globally with strong double digit growth. SABIC has 41 offices and more than 2,200 employees across Asia. SABIC has also established a large manufacturing and research presence in Asia in order to serve its customers better. Today, it has 9 manufacturing and compounding sites in China, India, Japan, Korea, Singapore, Malaysia and Thailand. SABIC has 3 Technology & Innovation Centers in China and India as well as 2 Application Centers in Japan and Korea. SABIC’s Asia Pacific Regional Headquarters is in Singapore, while its Greater China Regional Headquarters is in Shanghai.


SOURCE Saudi Basic Industries Corporation (SABIC)

Written by asiafreshnews

October 20, 2011 at 3:01 pm

Posted in Uncategorized

Conference of State Parties to United Nations Convention Against Corruption, October 2011, Morocco

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COLOMBO, Sri Lanka, Oct. 18, 2011 /PRNewswire-Asia/ — Author Nihal Sri Ameresekere, FCA, FCMA, CMA, CFE, Member, International Association of Anti-Corruption Authorities, releases latest books on Corruption, Fraud, Economic Crime, Governance, Rule of Law, with real case studies:

1. “To Combat Fraud & Corruption – a Cancerous Menace, with mere
Rhetoric, subverts UN Convention against Corruption (UNCAC)” —
exposes hollow commitment to obligations under UNCAC, and
postulates that mega corruption impoverishing the abject poor are
crimes against humanity

2. “Criminality Exposed – Perversely ‘Covered-Up'” — irrefutable
evidence of criminality shockingly revealed in the fraud in the
construction of the Colombo Hilton Hotel

3. “‘Dubious Deals’ – What a Paradox!” — dramatic exposures on lawless
privatisations pushed by IMF, World Bank & ADB

From April this year, the following Books have been released:

4. “Fiscal Mismanagement & Lack of Public Accountability – a case study
vis-a-vis Sri Lanka, a country under the purview of IMF/World-Bank/
ADB” — brazen transgressions on transparency and public
accountability exposed, citing constitutional mandates, social
contract, rule of law and judiciary

5. “Derivative/Hedging Deals by Citibank, Standard Chartered Bank,
Deutsche Bank, with Ceylon Petroleum Corporation – Dubious & Illegal?”
— brilliant analysis of sophisticated camouflaged instruments, also
raising issues of unequal enforcement of law, contempt of court and
judicial bias

6. “Colombo Hilton Hotel Construction — Fraud on Sri Lanka Government
— Sri Lanka’s First Derivative Action in Law” — involving Mitsui &
Taisei / Architects, Yozo Shibata Associates, with KPMG Ford Rhodes
Thornton, as Auditors

7. “Sri Lanka Insurance Privatisation, by PricewaterhouseCoopers and
Ernst & Young – Annulled as Unlawful & Illegal” — reveals corporate
economic crimes, involving Aitken Spence/Distilleries/CT Smith/
Gibraltar Co., and absence of law enforcement, with dubious conduct
of Chamber of Commerce and Chartered Accountants’ Institute,
privatization pushed by IMF/World-Bank/ADB

8. “Colombo Port Bunkering Privatisation – Annulled as Illegal &
Fraudulent” — involving UN Global Compact Co., John Keells — with
subsequent absolving judgments by 6 Supreme Court Justices, shockingly
revealing deliberate cannibalization and part suppression of sole
dissenting Judgment, privatization pushed by IMF/World-Bank/ADB

9. “Pillage of Plantations in Sri Lanka” — reveals the blatant pillage
and plunder of public property, privatizations pushed by IMF/

Books are available from Publishers, AuthorHOUSE US & UK , , and internationally from leading E-Retailers. More Information:

SOURCE: Consultants 21 (Publications) Ltd.

Written by asiafreshnews

October 20, 2011 at 2:44 pm

Posted in Uncategorized