Saudi ORIX, the first finance leasing company of its kind in the Kingdom, was incorporated on January 16, 2001 as a closed joint stock company with a mandate to provide medium term asset financing to all productive sectors of the economy with particular emphasis to serving the needs of small to medium size enterprises and thereby, assist in extending and expanding the credit delivery mechanism in the Kingdom.
Saudi ORIX operates under commercial registration No. 1010163957 issued in Riyadh on 21 Shawal, 1421 H (corresponding to January 16, 2001), and non-industrial license No.99 dated 27 Safar 1421 H (corresponding to May 31, 2000) issued by the Ministry of Industry and Electricity, through its three branches in the Kingdom of Saudi Arabia.
Saudi ORIX Leasing Company
No 343, King Saud Street
P.O Box 22890
Kingdom of Saudi Arabia
The main business is the provision of lease financing for movable and immovable assets to all productive sectors in The Kingdom. Assets leased include factory machinery, hospital equipment, construction, earth moving equipment, transportation assets including motor vehicles and real estate property and lessees cover a broad spectrum of businesses including general and construction contracting, hospitals, travel & tourism companies, manufacturing and trading companies.
Saudi ORIX entered the Saudi market with a focus to benchmark the leasing business in Saudi Arabia. The overall outlook for leasing business from the prospective of Saudi ORIX targets positive uplift against the contribution that leasing can make in enhancing financial intermediation in the economy and expanding credit delivery mechanism in Saudi Arabia, especially from the prospective of small and medium ticket size enterprises.
Saudi ORIX believes that it has the following key competitive strengths that are expected to facilitate growing its business:
Saudi ORIX’s brand recognition
Saudi ORIX enjoys the use of the globally recognized “ORIX” name in the leasing industry. In addition, since Saudi ORIX was the first lease finance company licensed by SAMA to operate in the Kingdom of Saudi Arabia and has actively participated in the lease finance market in the Kingdom of Saudi Arabia ever since, Saudi ORIX has established itself as a recognized name in this market.
Diversified portfolio and client base
In more than fifteen years of operations, Saudi ORIX has developed a well-diversified finance lease portfolio in terms of customers, economic sectors and asset types.
Experienced senior management
The senior management of Saudi ORIX has extensive experience in the leasing, banking and finance industries. Since the start of commercial operations, the senior management team has guided Saudi ORIX through a period of growth and diversification, has dealt with the challenges of the global financial crisis, and has the experience to continue to implement Saudi ORIX’s strategic objectives.
ORIX Corporation Support
Saudi ORIX benefits from its membership in the ORIX Corporation franchise and the substantial lease finance expertise and support of ORIX Corporation and its subsidiaries. Through a Technical Assistance Agreement with ORIX Corporation, Saudi ORIX has access to technical and management support from ORIX Corporation and benefits from their knowledge and experience in similar businesses in other markets, including countries in the Middle East. This support assisted Saudi ORIX in establishing its presence in the Saudi Arabian leasing market and continues to significantly benefit Saudi ORIX in the development and execution of tailored finance lease transactions.
Saudi ORIX was established as an independent finance leasing company in the Kingdom of Saudi Arabia and is not tied in to any exclusive arrangements with customers or vendors. Saudi ORIX’s existing and potential target market is relatively wide and unrestricted, which in turn assists Saudi ORIX in ensuring the diversification of its finance lease portfolio. As such, Saudi ORIX itself would not be viewed by a customer as a direct competitor or related to a direct competitor to its business.