{"id":87019,"date":"2024-06-10T00:00:00","date_gmt":"2024-06-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/10\/al-moammar-information-systems-pushes-forward-with-data-centers-plan-with-an-agreement-with-microsoft-plus-healthcare-telecom-and-real-estate\/"},"modified":"2024-06-10T00:00:00","modified_gmt":"2024-06-10T00:00:00","slug":"al-moammar-information-systems-pushes-forward-with-data-centers-plan-with-an-agreement-with-microsoft-plus-healthcare-telecom-and-real-estate","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/06\/10\/al-moammar-information-systems-pushes-forward-with-data-centers-plan-with-an-agreement-with-microsoft-plus-healthcare-telecom-and-real-estate\/","title":{"rendered":"Al Moammar Information Systems pushes forward with data centers plan with an agreement with Microsoft. Plus: healthcare, telecom and real estate"},"content":{"rendered":"

TECH- <\/p>\n

#1- <\/strong>Al Moammar Information Systems signs agreement for data center lease with Microsoft: <\/strong>Tadawul-listed Al Moammar Information Systems (MIS) is set to provide colocation and data center services for one of six data centers owned by Saudi Data Center Fund 1 under a 10-year agreement with the fund and Microsoft Arabia, it said in a disclosure to Tadawul<\/a>. The contract is valued at over 50% of MIS\u2019 revenues in 2023<\/a> which came in at SAR 1.5 bn. The contract includes two optional five-year extensions, the disclosure read. Microsoft also has the option to expand the reserved data center capacity by up to 300%, it added.<\/p>\n

What we know about the fund: <\/strong>MIS and Saudi Fransi Capital inked an SAR 1.2 bn agreement<\/a> back in 2021 to develop, design, and manage facilities for data centers through a private investment fund dubbed The Saudi Data Centers Fund 1. Under the agreement, MIS and Saudi Fransi Capital will establish, execute, and operate six data centers with an initial capacity of 4 MW each across the kingdom as a first phase. MIS recently purchased<\/a> 6.6 mn units at a value of SAR 66 mn for data centers it is setting up under the plan.<\/p>\n

Also from MIS- <\/strong>The IT solutions provider landed a SAR 78.7 mn project to operate the computer system at the Imam Mohammad Ibn Saud Islamic University, it said in a separate disclosure to Tadawul<\/a>. Under the contract, MIS will provide services related to data centers management and operation, network and internet management and information security systems management and development among others.<\/p>\n

\n

\n

#2- <\/strong>The General Transport Authority has rolled out a new and improved version of its <\/strong>smart <\/strong>inspection glasses for Hajj season<\/strong>, it said in a post on X<\/a>. The move boosts the remote inspection time of vehicles by 6x, as the entire check-up and documentation process can now be done in six seconds, according to the authority. <\/p>\n

#3- Nomu-listed Naseej Tech was awarded a SAR 11.8 mn project from Advanced Electronics <\/strong>for the management of services and license renewals, according to a disclosure on Tadawul<\/a>. No further details were provided.<\/p>\n

\n

CAPITAL MARKETS-<\/p>\n

The region\u2019s top 100 listed companies saw their combined net income fall 13.5% <\/strong>y-o-y to <\/strong>USD 240 bn in the first four months 2024<\/strong>, reflecting a 5.1% decline in total sales to USD 1 tn last year, according to a Forbes Middle East<\/a> ranking. Total market value slipped by 4.4% to USD 3.6 tn as of April 2024. Meanwhile, the total value of their assets was up 5.4% to USD 4.9 tn in 2023.<\/p>\n

Aramco topped the list<\/strong>, with USD 660.8 bn in assets and a market cap of USD 1.9 tn. Out of the total 100 listed companies, 31 are Saudi, including Saudi National Bank, Al Rajhi Bank, and Saudi Electricity. <\/p>\n

\n

HEALTHCARE-<\/p>\n

#1- Tadawul-listed Scientific & Medical Equipment House has secured a SAR 92.1 mn <\/strong>project from the Health Ministry <\/strong>which will see it maintain and repair medical devices and equipment for healthcare facilities in the Taif region, it said in a disclosure to Tadawul<\/a>. The project runs for five years. <\/p>\n

#2- Nomu-listed Tibbiyah subsidiary International Medical Supplies landed a <\/strong>SAR 23.8 mn <\/strong>contract worth from PIF unit Nupco to supply orthopedic and spine products<\/strong>, the parent company said in a disclosure to Tadawul<\/a>.<\/p>\n

#3- Nomu-listed healthcare supplier Lana Medical has landed a SAR 21.2 mn project <\/strong>from the Madinah health cluster<\/strong> to supply supplies for hazardous healthcare waste, it said in a disclosure to Tadawul<\/a>.<\/p>\n

\n

PHARMA- <\/p>\n

Jeddah-based pharma player Al Mujtama has inked a one-year MoU with <\/strong>Meem Alif <\/strong>Investment<\/strong> that will see them collaborate on supplying and distributing pharma products, medical equipment, and cosmetic products across the Kingdom, according to a filing to Tadawul<\/a>. No further information was provided. <\/p>\n

\n

TELECOM-<\/p>\n

Aramco unit set to obtain specialized radio network license: <\/strong>The Global Digital Integrated Solutions Company (Aramco Digital) \u2014 a unit of state-owned oil giant Aramco \u2014 was qualified to obtain a specialized radio network license aimed to cater to the industrial and business sectors, the Communications, Space & Technology Commission (CST) said in a post on X<\/a>. The CST said Aramco Digital completed regulatory requirements for the license, with the qualification coming weeks after the commission said it has qualified the unit and Stc to compete for the license.<\/p>\n

About the network:<\/strong> The dedicated network \u2014 which operates independently from mobile networks \u2014 aims to serve industrial and business sectors through utilizing modern global wireless technologies. The CST had held a public competition for this type of license in March 2024.<\/p>\n

\n

REAL ESTATE-<\/p>\n

Nomu-listed National Building and Marketing signed a three-year SAR 300 mn agreement with <\/strong>Al Fayziyya Real Estate Development <\/strong>which will see it build residential and office towers in Riyadh, it said in a disclosure to Tadawul<\/a>. <\/p>\n

\n

PRIVATE EQUITY-<\/p>\n

Nomu-listed Knowledge Net has inked an MoU with Bayt Alnomow to set up a <\/strong>private equity investment fund<\/strong>, it said in a filing to<\/a>Tadawul<\/a>.<\/a> The new fund, which is set to be managed by Bayt Alnomow, will see Knowledge Net invest in its fintech subsidiaries. Details on the fund\u2019s size will be released upon the completion of due diligence processes.<\/p>\n","protected":false},"excerpt":{"rendered":"

Al Moammar Information Systems (MIS) | Saudi Data Center Fund 1 | Microsoft Arabia | Saudi Fransi Capital | Naseej Tech | Advanced Electronics | Scientific & Medical Equipment House Co | Tibbiyah | Nupco | Lana Medical | Al Mujtama | Meem Alif Investment | Aramco Digital | Knowledge Net<\/p>\n","protected":false},"author":1,"featured_media":87020,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2564],"tags":[2850,1692,2168,54,1389,10,2170,406,2169,2165,2166,377,2164,200,2167,1445],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87019","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-advanced-electronics","tag-al-moammar-information-systems-mis","tag-al-mujtama","tag-also-on-our-radar","tag-aramco-digital","tag-enterpriseam-ksa","tag-knowledge-net","tag-lana-medical","tag-meem-alif-investment","tag-microsoft-arabia","tag-naseej-tech","tag-nupco","tag-saudi-data-center-fund-1","tag-saudi-fransi-capital","tag-scientific-medical-equipment-house-co","tag-tibbiyah","wpautop","entry"],"acf":{"mongo_id":"4dbdf21c-9be7-4369-b9f9-a9968a913af9","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/787.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Al Moammar Information Systems pushes forward with data centers plan with an agreement with Microsoft. 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