Saudi Petrochemicals - NCBC

FINANCIAL PERFORMANCEEARLIER THAN EXPECTED START OF OPERATIONSSaudi Kayan commencing operations at most of its plants ahead of our 2Q 2011estimate would act as a positive trigger for the stock. This, in turn, is likely to resultin the company reporting profits and revenues earlier than expected, therebyboosting the stock’s valuation.27 April 2010 SAUDI KAYAN – INITIATING COVERAGE52