Morning Bulletin July 3 2016- Jazira Capital

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Jul 3, 2016 - △0.4%. Corporate News ... Today: National Maize Products to discuss estimated budget. National ... Jazir
THE MORNING BULLETIN

JAZIRA SECURITIES BROKERAGE

Sunday, July 03, 2016

General News

Corporate News

CBE to auction EGP9.75 bn in T-bills today

EFIC likely to float part of subsidiary on EGX The Egyptian Financial and Industrial company (EFIC.CA) approved doubling its 99.8%-owned subsidiary’s capital, Suez Company for Fertilizer Production, to EGP600 million from EGP300 million. Following a reassessment of capital, EFIC plans to hike its subsidiary’s capital through floating a 40% stake on Cairo bourse or through adding another EGP300 million via a key investor. (Mist News)

Pioneers’ board approves GDRs issue

The Central Bank of Egypt said it would issue EGP9.75 billion in treasury bills on behalf of the Ministry of Finance today. The EGP9.5 billion will be offered through two auctions to fund budget deficit: a 91-day auction at EGP4.75 billion and a 266-day auction at EGP5 billion. During July – January 2015/16, the country's budget deficit widened to EGP191.6 billion or 6.8 of gross domestic product, compared with EGP159.1 billion, or 6.5% of GDP for the year-ago period. Earlier, the government announced its plan to issue treasury bills and bonds at EGP291.25 billion during FY15/16 fourth quarter, versus EGP249 billion for the year-ago quarter

(CBE) The board of Pioneers Holding Company for Financial Investment (PIOH.CA) recommended converting up to 33.33% of capital into global depositary receipts-GDRs. The company operates with EGP2.8 billion, Egypt repays last tranche of Qatari deposit Friday The Egyptian government returned the US$1 billion last installment of the distributed over 566.7 million shares at EGP5 each. (EGX) Qatari deposit on the first of July. Egypt will pay off the last tranche of the Qatari deposit on time". Qatar boosted up the Egyptian economy following the January 25 Revolution that toppled Hosni Mubarak and brought MoMisr Oils and Soap turns into profits in 11M FY16 hamed Morsi and Muslim Brotherhood to the presidency. Misr Oils and Soap (MOSC.CA) turned a profit in the first eleven (Reuters) months of 2015/16. The company’s net profit before tax stood at EGP12.7 million against EGP15.6 million a year earlier. Earlier, it reported net earnings of EGP24,000 in the first half of 2015/2016, against Ministry to execute US$4 bn power plant in Oyoun Moussa Egypt's investment minister Dalia Khorshid said that the establishment of losses of EGP8.3 million in the same period a year earlier. (EGX) an electricity plant in Oyoun Moussa at a cost of US$4 billion is nearing its final stages. The UAE's Al Nowais Investments is leading a KoreanCleopatra Hospital posts profits of EGP22.5 mn in 1Q FY16 Emirati alliance to complete the project using the build–own–operate– transfer-BOOT system for a 40-year period, the minister revealed on the Cleopatra Hospital Company S.A.E. (CLHO.CA) announced audited sidelines of a visit to the UAE. HSBC has been appointed as the project's financial results for the fiscal period from 01/01/2016 till 31/03/2016. The company posted consolidated net profits of EGP22,515,011 versus financial advisor, while the US-based White & Case law firm has been net profits of EGP15,101,597 in the same period a year ago. Moreover, it appointed as the legal consultant. The new power plant is expected to produce around 1,320 megawatts-MW of electricity in its first stage using posted standalone net profits of EGP11,332,149 versus net profits of clean coal, the statement added. Figures by the Ministry of Industry show EGP15,101,597 in the same period a year ago. (Arab Finance) that around 815 UAE companies operate in Egypt at total investments and contributions of US$6.124 billion.

United Arab Shipping submits documents to renew area 65

(Mubasher)

United Arab Shipping (UASG.CA) announced that company has succeed in its negotiations with Alexandria Port concerning evacuating area 65 from the company. The company has submitted a renewal document of area 65 for another period, according to Alex Port’s request. It is worth mentioning; the company announced Alexandria Port Authority sent a letter to the company on June 12, 2016 in order to evacuate area 65 by maximum June 30, 2016. (Arab Finance)

Today: National Maize Products to discuss estimated budget National Co for Maize Products (NCMP.CA) called Board of Directors to be convened on July 3 instead June 30. BoD will review the estimated budget after amendment. (Arab Finance)

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Gold

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THE MORNING BULLETIN

JAZIRA SECURITIES BROKERAGE

GDRs (Previous day close)

US$

% Change

COMIq.L

3.56

▲2.1

ETELq.L

3.20

-

HRHOq.L

1.90

OTMTq.L

0.39

Sunday, July 03, 2016

Money Market (latest available)

Rate

Inflation Rate (May. 2016)

12.30%

Overnight deposit Rate

11.75%

Overnight lending Rate

12.75%

182 TB

14.917%

-

357 TB

15.185%

-

Overnight Interbank

10.811%

Corporate Calendar Company

RIC

Date

Event

Details

GB Auto

AUTO

12/7/2016

EGM

Export Development Bank

EXPA

20/7/2016

AGM &EGM

Approve FY17 estimated budget.

Suze Cement

SUCE

11/7/2016 (Rec. Date)

Cash Dividend

EGP1.0/share (Dis 14/7/2016).

Sidi Kerir Petrochemicals

SKPC

14/7/2016 (Dis Date)

Cash Dividend

EGP0.40/share second Installment (Rec date was 16/5/2016).

Approve amending articles 6,9,10 and11 .

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THE MORNING BULLETIN

JAZIRA SECURITIES BROKERAGE

Jazira Securities Brokerage 15 Shooting Club Street, Dokki, Giza, Egypt Tel: (+202) 3760 9915 - 37609941 Fax: (+202) 3760 9883 www.jaziracapital.com

Sunday, July 03, 2016

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JSB Contacts

Title

Tele.

Email

Hussein El Sawalhy, CFA

Managing Director

(+202) 3760 9915

[email protected]

Ahmed Helmy

Head of Sales & Trading

(+202) 37609941

[email protected]

Mohamed Adel, CFA

Research Department

(+202) 37609883

[email protected]

Momen El-Shayal, CFTe

Senior Technical Analyst

(+202) 3760 98 73

[email protected]

George Mansour

Customer Service

+20122 921 4069

[email protected]

Amr Abdo

Marketing Manager

+20109 166 1366

[email protected]

Disclaimer • • • • • • • • •

Jazira Securities Brokerage (JSB) is a licensed Egyptian Stock Market Broker, regulated by the Egyptian Financial Service Authority. Opinions, estimates and projections contained in the research reports or documents are of the author as of the date published and are subject to change without notice JSB research reports or documents are not, and are not to be construed as, an offer to sell or solicitation of an offer to buy any securities. Unless otherwise noted, all JSB research reports and documents provide information of a general nature and do not address the circumstances of any particular investor. Neither JSB nor its mother company (Jazira Capital), or any of its affiliates accept liability whatsoever for any investment loss arising from any use of the research reports or their contents. The information and opinions contained in JSB research reports or documents have been compiled or arrived at from sources believed reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness. JSB, Jazira Capital or any of its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities mentioned herein as principal or agent. JSB research reports and all the information opinions and conclusions contained in them are protected by copyright. The research reports or documents may not be reproduced or distributed in whole or in part without express consent of JSB Research. JSB research reports or documents, recommendations and information are subject to change without further notice.

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