Riyadh’s SMASCO Eyes Expansion with IPO to Boost Manpower Services
In an exclusive interview with Arab News, Abdullah Al-Timyat, the CEO of Saudi Manpower Solutions Co. (SMASCO), revealed plans for the company’s initial public offering (IPO) that will pave the way for its expansion in various sectors across Saudi Arabia.
Strategic Growth Initiatives and Market Penetration
Al-Timyat emphasized that the IPO proceeds will fuel SMASCO’s growth initiatives and enhance its presence in the Saudi market, with a focus on reaching new geographic areas within the Kingdom. The company’s capital-light model, backed by strong cash management and zero debt, positions it for agile expansion.
AI and Technology: A Game Changer for Manpower Companies
Looking ahead, the CEO highlighted the transformative potential of artificial intelligence (AI) in enhancing efficiency and service delivery for manpower companies like SMASCO. He pointed out that advanced technology presents opportunities for operational and financial advancements, as well as improved customer service.
Vision 2030 and Industry Advancement
Al-Timyat underscored the pivotal role of Vision 2030 in providing clarity and direction to SMASCO’s future endeavors. The government’s commitment to executing Vision 2030 aligns with the company’s strategic goals and supports industry advancement, driving economic growth and societal development in line with the Kingdom’s ambitious vision.
Specialization for Industry-Specific Needs
The CEO highlighted the global demand for specialized talents in industries like medical, logistics, tourism, and entertainment, which are also prevalent in Saudi Arabia. SMASCO’s focus on specialization enables the company to provide high-quality manpower services tailored to meet the unique needs of each industry, aligning with market trends and economic requirements.