Loans of 118 listed companies on Saudi stock market (Tadawul) reached SR418.2 billion by the end of the second quarter compared to SR418.5 billion in the same period last year, according to a financial report.
The report, prepared by the economic study unit at Al-Eqtisadiah daily, said the loans received by the covered companies equalized 131 percent of their capital.
Long-term loans constituted 84 percent of the total loans at the value of SR351.75 billion whereas short-term loans totaled SR66.4 billion, or 16 percent of the total loans, the report said.
Al-Zamil Company topped the list of companies on having the highest rate of credits exceeding its capital, which reached SR3.37 billion at the end of the second quarter, or 562 percent of its capital of SR600 million, the report said.
Meanwhile, Saudi Basic Industrial Corp. (SABIC) was the highest loan recipients in terms of value by the end of second quarter at SR81.5 billion, or 19.5 percent of the total loans received by 118 listed companies, the report said.
The ratio of loans (credits) exceeded capitals in 39 listed firms during the second quarter led by Zamil Company (562 percent), followed by Saudi Arabian Mineral Company (338 percent), Saudi Group (326 percent), Tasnee (308 percent), Petrochem (306 percent), Lujain (289 percent), SABIC (272 percent), Almarai (252 percent), Saudi Ceramics (248 percent), and NADEC in the 10th rank (229 percent), the report said.
Other companies where the ratio of credits exceeded their capitals were as follows: Paper (220 percent), MESC (214 percent), PetroRabigh (212 percent), Al-Khudairi(197 percent), Keyan (194 percent), Al-Babtain (193 percent), Al-Hukair (190 percent), Sepchem (182 percent), Savola (180 percent), Cables (180 percent), Al-Hassan Shakir (177 percent), Sesco (173 percent), Saudi Electricity Co. (170 percent), and Amiantit (168 percent).
Saudi Electricity Co. came in the second rank among the companies receiving the highest value of loans during the second quarter of the current year at SR70.82 billion, followed by Saudi Arabian Mineral Company (SR31.27 billion), Keyan (SR29.15 billion), Tasnee (SR20.62 billion), the report said.
On the other hand, SABIC was the largest companies to have repaid loans at SR24.20 billion during the period extending from the second quarter of 2012 to the equivalent period of the current year (2013), followed by Saudi Telecom Co. (STC) at SR3.34 billion, Yansab (SR2.21 billion), PetroRabigh (SR1.62 billion), and Dar Al-Arkan (SR1.09 billion), according to the report.
Among the most borrowing companies in one-year period came Saudi Arabian Mineral Company at the top whose loans were increased by SR9.93 billion, followed by Saudi Electricity Co. (SR9.42 billion), Savola (SR2.54 billion), Tasnee (SR2.1 billion), and Jabel Omar (SR1.57 billion), the report said.