Guler Sabancı answers Bloomberg questions at Davos

29.01.2009

- SABANCI HOLDING CHAIRMAN GULER SABANCI: "DEVELOPING COUNTRIES WILL BE PART OF THE SOLUTION"

- "SABANCI GROUP IS ONE OF THE GROUPS IN TURKEY WITH THE BEST FINANCIAL BALANCED PORTFOLIO"

Sabancı Holding Chairman Guler Sabancı answered questions as the live broadcast guest of Bloomberg at Davos she visited to attend the World Economic Forum meetings.

Regarding the increase in the number of developing countries attending the Davos meetings this year, and regarding the orientation towards developing markets, Sabancı said: "A huge change is being experienced in the world.  Attendance of developing countries at Davos is higher this year.  This shows us explicitly that the problems started in the West, but those that are being suffered are global problems.  This is also manifest that, a global solution is needed, and the developing countries will be a part of such solution.  When the WWII was over there was no Eastern presence in the institutions of the West.  We cannot assert that the developing countries were satisfactorily represented at such institutions.  Now we try to look beyond the crisis, and, what's certain is that the developing countries will be a part of the solution."

And Sabancı answered the question about the repercussions of the global crisis on the Sabancı Group as follows: "Our Group is one of the Groups in Turkey with the best balanced portfolio.  But of course we must perform our assessment in every respect. We have certain fields of operation in which we have been planning growth for this year, yet, by and large, this year is not one of growth, but one in which the operating capital must be managed and the cash maintained.  We will pass one year this way."

"We have been growing in some business lines.  And in some others there are certain opportunities.  Such opportunities may be organic or inorganic.  For instance, we have a strong position in the field of electronics retailing in Turkey.  We expect a growth of 20% this year.  Moreover, we are acquiring one of the largest regions in terms of electricity distribution.  This will be the first example of the electricity distribution privatisation.  And we are highly excited in this respect," added Sabancı regarding the actions which will be taken.