Morning Bulletin March 2 2016- Jazira Capital.pub

THE MORNING BULLETIN

JAZIRA SECURITIES BROKERAGE

Wednesday, March 02, 2016

Corporate News

Corporate News Middle Egypt Flour Mills (CEFM.CA) targets net profits of EGP36.8 million in the fiscal year 2016/17, according to the company’s estimated budget for FY17. The firm estimated profits stood at EGP36 million in FY16. Meanwhile, the company eyes revenues of EGP2.36 billion in FY17, compared with EGP2.47 billion for FY16.Middle Egypt Flour Mills reported net profits of EGP16.8 million in the first half of FY16, up from EGP16.2 million for the same period a year earlier.

Pioneers was looking into the acquisition of two other companies in the real estate and food sectors worth around 1 billion pounds combined. The company posted a 97.5 percent jump in profit in the first nine months of 2015 to 400 million pounds. The total value of the company's acquisitions since 2011 will reach 4.5 billion Egyptian pounds in March, Despite the strong results, Pioneers has not distributed cash dividends to its shareholders in recent years.We will discuss dividends with the shareholders after we complete the Rooya listing and the deals "planned for this year," said Zaki.

(Mubasher)

(Arab Finance)

Middle Egypt Flour Mills eyes EGP36.8 mn profits in FY17

South Cairo Mills loses EGP2.92 mn in Jan. South Cairo and Giza Flour Mills and Bakeries (SCFM.CA) turned unprofitable in January 2016 as its losses reached EGP2.92 million, against EGP1.82 million profits for January 2015. The company’s losses for the General News first half of 2015/16 widened to EGP10.3 million from EGP3.2 million OPEC members will have to freeze output, says UAE minister in 2014. UAE Energy Minister Suhail Al Mazroui said on Tuesday that all OPEC (Mubasher) member states will be forced to freeze their oil production. Al Mazroui told reporters on the sidelines of energy event that the current prices will force everyone to settle their production. OTMT studies external borrowing to fund CI Capital Orascom Telecom Media and Technology Holding (OTMT.CA) studies Saudi Arabia, Russia, Qatar and Venezuela agreed last month to freeze their several alternatives to fund CI Capital acquisition deal including funding oil production at January’s levels provided that other producers to follow from external banks. A well informed source related to deal said OTMT suit. Oil prices tumbled sharply by 70% from their highest level in June faces some difficulties to obtain the loan from local banks, as banks are 2014 to reach US$30 a barrel due to oversupply and limited demand. usually aware of any deals related to money market. According to these The minister predicted more prices rise in the future but he refused to set a difficulties, OTMT is studying to fund the deal through foreign entities fair price, adding that the current prices are still inappropriate.+ (Mubasher) or depending on the company’s self-resources. (Arab Finance)

March 26: Mansourah Poultry OGM to discuss profits dist. Mansourah Poultry (MPCO.CA) called ordinary general assembly and extra- ordinary general assembly to be convened on 26/03/2016. OGM will review Board of Directors report on the company’s activity for the fiscal year ending December 2015 as well as the financial results and budget of the same fiscal year. Moreover, OGM will approve the profit distribution suggestion. It is worth mentioning, EGM will discuss amending article number 4 and 39 from article of incorporation. (Arab Finance)

Egypt's Pioneers to complete Rooya listing in 2H FY16 Pioneers Holding (PIOH.CA) , one of Egypt's largest financial services firms, expects to complete a 2 billion Egyptian pound (US$255 million) initial share offering of property developer Rooya Group in the second half of this year. "We will depend on foreign and Arab investors," Pioneers Chief Executive Walid Zaki told Reuters in an interview, adding requests from abroad had already started coming in. Pioneers, which also invests in real estate, industry and financial services, acquired 60 percent of Rooya's shares in March 2015 for 1.2 billion pounds. Rooya has a real estate portfolio of about 9 million square metres, with 6 million of that currently under development. Zaki said Zaki said.

Crude Oil (Light)

34.17

▼0.7

Gold

1,228

▼0.3

Euro/US$

1.0851

▼0.2

International Indices (One Day Change)

Dow

16,865

▲2.1%

FTSE100

6,153

▲0.9%

Nikkei 225

16,747

▲4.1% MSCI Global

1,209

▲1.9%

S&P 500

1,978

▲2.4%

CAC 40

4,407

▲1.2%

HANG SENG

20,032

▲3.2% MSCI Emerg.

753

▲1.7%

NASDAQ

4,690

▲2.9%

DAX

9,717

▲2.3%

Shanghai

2,851

▲4.3% MCSI Asia

120

▲0.6%

1



GDRs (Previous day close)

USUS$


% Change

COMIq.L

3.57

-

ETELq.L

4.25

-

HRHOq.L

1.99

-

OTMTq.L

0.62

▲5.4

Money Market (latest available)

Rate

Inflation Rate (Jan. 2016)

10.10%

Overnight deposit Rate

9.25%

Overnight lending Rate

10.25%

91 TB

11.572 %

266 TB

12.447%

Overnight Interbank

9.41%

Corporate Calendar Company

RIC

Date

Event

Details

Arafa Investment & Consultancies

AIVC

1/2/2016 (Rec. date)

Cash Dividend

US$0.01/Share (Dis. Date 4/2/2015)

Sewedy Electric

SWDY

1/2/20 16 (Rec. date)

Cash Dividend

EGP1.0/Share (Dis. Date 4/2/2015)

Mdenit Nasr Housing

MNHD

3/2/2016 (Rec. date)

Stock Dividend

1:2 stock dividend (Dis. Date 4/2/2015)

Aracemco

CERA

8/2/2016

EGM

Amend article 2 to change the company name to Remas Ceramics.

Juhayna Food Industries

JUFO

10/2/2016

AGM

Approve FY15 financial results.

Cairo Oils & Soap

COSG

15/2/2016

EGM

Discuss capital increase of EGP120 mn is distributed across 24 mn shares at EGP5/each.

Cairo Poultry

POUL

15/2/2016

AGM

Approve financial results & cash dividend.

Qatar National Bank Ahli

QNBA

17/2/2016

AGM& EGM

Discuss increasing issued and paid-in capital to EGP 7.42 billion.

AMOC

AMOC

14/4/2016 (Dis. date)

Cash Dividend

EGP2.0/Share 11/10/2015)

second

installment

(Rec.

Date

was

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