Kingdom Holding Company (KHC) has announced that it is continuing its normal business operations despite various media reports relating to the company’s chairman.

 

It has been reported that Prince Alwaleed bin Talal, chairman of KHC, has been detained by Saudi Arabian authorities in a corruption crackdown in the kingdom.

 

A KHC statement said: “KHC is aware of various media reports regarding activities in Saudi Arabia on November 4 which relate to the company’s chairman of the board.  The company continues its normal business operations.  The executive senior management team affirms its full commitment to continue the company’s work, its commitment to its investors and shareholders, and affirms the support of the Government of the Kingdom of Saudi Arabia. Kingdom Holding is proud of this testimony.”

 

KHC CEO, Engineer Talal Ibrahim Al Maiman, said: “The support of the Government of the Kingdom of Saudi Arabia to Kingdom Holding is a badge of honour for us. Our company’s successful strategy remains intact and I look forward to advancing our business and create value to all our shareholders with the support of the board and the highly capable management team that has served this company since its listing on the Saudi stock exchange.” – TradeArabia News Service