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Please answer all questions The attached Exhibit X reports that the ...Top global oil exporter Saudi Arabia broke from the pack in the race to
Please answer all questions The attached Exhibit X reports that the "...Top global oil exporter Saudi Arabia broke from the pack in the race to lock up Asian market share after agreeing ... to pump $7 billion into a refinery-petrochemical complex in Malaysia, ..." in February, 2017. This was seen as a very strategic investment by Saudi Aramco as, among other reasons, it "... will secure an outlet for its crude oil for at least two decades and beefs up its downstream portfolio ahead of its initial public offering (IPO) next year" then. Instructions: In the context of business combination, you are required to: a. Outline other reasons that may seek to motivate Saudi Aramco to acquire interests in far away Malaysian refinery-petrochemical complex. b. Critically discuss the accounting and financial reporting implications of such acquisition from the perspective of Saudi Aramco
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