ADVANCED PETROCHEMICAL COMPANY ANNOUNCES THE FORMATION OF THE AUDIT COMMITTEE
| Element List | Explanation |
|---|---|
| Introduction | Advanced Petrochemical Company announces the Board of Directors’ decision to form the Audit Committee for the current Board of Directors term, which began on October 01, 2025 and for a period of four years ending on September 30, 2029, as follows:
Eng. Abdulsalam M. Al Mazro Mr. Abdullah A. Buali Eng. Abdullatif K. Al-Mulhem Mr. Khalid M. Al Eid |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Eng. Abdulsalam M. Al Mazro |
| Membership Start Date | 2025-10-01 Corresponding to 1447-04-09 |
| Brief Resume of the Appointed Member | Eng. Abdulsalam has more than 30 years of experience in the fields of manufacturing, planning, and marketing petrochemicals, and he was Vice President Polymers SBU in SABIC and he was a board member in multiple of SABIC’s affiliates, and a board member of Methanol Chemicals Company (Chemanol) and Rabigh Refining and Petrochemical Company (Petro Rabigh). Eng. Abdulsalam acquired master’s in business administration from the University of Bradford, West Yorkshire UK, and a bachelor’s degree in chemical engineering from King Saud University in 1982. |
| The date of the approval by other official authorities | Not Applicable |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Abdullah A. Buali |
| Membership Start Date | 2025-10-01 Corresponding to 1447-04-09 |
| Brief Resume of the Appointed Member | Mr. Abdullah A. Buali held several high-level leadership and board roles across major Saudi companies, notably serving as Chairman of the Board of MARAFIQ Water and Power Supply Company (TAWREED) and its Audit Committee, as well as board positions at SABIC affiliates like HADEED, SABCAT, SADAF, and IBN SINA between 1988 and 2017. He played a pivotal role in financial strategy and governance. His career includes executive roles such as General Manager of Finance & IT at MARAFIQ and Finance & Administration at SADAF, with key accomplishments in risk management, SAP implementation, insurance structuring, and policy development, reflecting a strong legacy in corporate finance, strategic planning, and operational excellence. |
| The date of the approval by other official authorities | Not Applicable |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Eng. Abdullatif K. Al-Mulhem |
| Membership Start Date | 2025-10-01 Corresponding to 1447-04-09 |
| Brief Resume of the Appointed Member | Eng. Abdullatif Al-Mulhem holds a Bachelor's degree in Civil Engineering from Concordia University and a Mini MBA from Queen's University. He has extensive experience across engineering, finance, and executive leadership. He began his career as a Civil Engineer at Fluor Company (2013–2015), then served as a Credit Analyst at the Saudi Industrial Development Fund (2016–2021), and currently holds the position of CEO at Khalifa Abdul Latif Al-Mulhim Holding Company since 2022. He also serves as a board member at Walaa Insurance Company, where he is a member of the Executive and Nomination & Remuneration Committee. |
| The date of the approval by other official authorities | Not Applicable |
| Element List | Explanation |
|---|---|
| Appointed Member Name | Mr. Khalid M. Al Eid |
| Membership Start Date | 2025-10-01 Corresponding to 1447-04-09 |
| Brief Resume of the Appointed Member | Mr. Khalid Al-Eid is a Certified Public Accountant accredited by the Saudi Organization for Certified Public Accountants (SOCPA), with over 17 years of experience in auditing, internal audit, and transitioning to International Financial Reporting Standards (IFRS). He previously worked at Ernst & Young for 8 years and at KPMG for 3 years, participating in both local and international projects, including IFRS transition in the United Kingdom and the implementation of Value Added Tax (VAT) in Saudi Arabia. He serves as a member of audit committees in various entities and delivers training courses in accounting and auditing in collaboration with SOCPA and the Saudi Institute of Internal Auditors. |
| The date of the approval by other official authorities | Not Applicable |
| Element List | Explanation |
|---|---|
| Date of Board Meeting in which Appointed New Member(s) were Appointed | 2025-10-01 Corresponding to 1447-04-09 |
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