Jazira Securities Brokerage - Zawya

Corporate News
JAZIRA SECURITIES BROKERAGE
OT announces the sale of Namibia unit
Orascom Telecom Holding (ORTE.CA) announces that its fully
owned subsidiary Telecel Globe (“Telecel”) has finalized an
agreement to sell Powercom (Pty) Limited (“Powercom”), Telecel’s
subsidiary in Namibia, to Investec and Nedbank. The consideration
for the sale consists of all liabilities of Powercom of
around US$60 mn. The sale is conditional upon regulatory approval.
(OT Press Release)
Rubex Plastic 1Q 11 NP declined 18% to reach EGP473k
Rubex Plastics (RUBX.CA) has revealed its 1Q FY11 results
ending March, posting a net income of EGP473.4K compared to
EGP580.5K for the same period last year, reflecting 18% decline
yoy.
(Mist News)
Medical Union bottom line soar 5.2% yoy
Medical Union Pharmaceuticals (MEDU.CA) has posted its 1Q
FY11 ending March results, showing a net income of EGP39 mn
compared to EGP37 mn recorded in the same period last year,
implying a 5.2% yoy increase
(Mist News)
Rowad Tourism OGM meeting results
Rowad Tourism (ROTO.CA) based on its OGM which was held
on June 3, 2011, has approved FY10 results ending December,
and also they approved not to distribute any of the company's
profit this year.
(Mist News)
Sharm Dreams OGM meeting results
Sharm Dreams for Tourism Investment (SDTI.CA) based on its
OGM has approved FY10 results ending December, and not to
distribute profit this year.
(Mist News)
International Agricultural Products to sell treasury stocks
International Agricultural Products (IFAP.CA) announced that it
will sell 3 million treasury stocks during the period from June 2,
2011 until June 30, 2011.
(EGX)
International Indices (One Day Change)
Corporate News
THE MORNING BULLETIN
Sunday, June 05, 2011
NUCA cancels a sale of 46k sqm land plots to SODIC
The New Urban Community Authority (NUCA) has decided to
withdraw a previous sale 46.2k m 2 (i.e 11 feddans) from Six of
October for Development and Investment SODIC company
(OCDI.CA), the owner of Beverly Hills Project located in
Sheikh Zayed city as the company didn’t build in the specified
time on the land plots though issuing its related licenses.
Sources in the authority revealed as well that there are other two
projects namely Gezeirah and Royal City which the authority
will also cancel the sale of its land plots.
(Mist News)
General News
Egypt sells T-bills worth EGP5.4 bn
Central Bank of Egypt (CBE) said it sold 5.39 billion Egyptian
pounds ($907.07 million) in domestic treasury bills on Thursday
CBEY. The bank sold EGP2.5 bn of 182-day bills, the same
amount it had asked for, at an average yield of 12.581%, down a
fraction from 12.589 percent at last week's auction. The bank
also asked for 3.5 billion pounds of 350-day T-bills, but accepted
only 2.89 billion pounds at an average yield of 12.96 percent,
up from 12.878 percent at last issue on May 10.
(Reuters)
IMF welcomes Egypt draft budget
The IMF welcomed on Thursday the Egyptian government's
draft FY12 budget, which will increase spending to create jobs
and help the poor, and said talks on possible IMF financing support
for Egypt were continuing. Egypt's cabinet approved on
Wednesday a budget for the FY12 financial year that increases
spending by a quarter as the government strives to help the poor
after a popular uprising unseated the country's president. To help
finance the increased spending, Egypt will introduce a 10% capital
gains tax and increase the income tax rate levied on corporations
and individually owned companies by 5% points for profits
over EGP10 mn.
(Reuters)
Crude Oil (Light) 100.22 ▼0.2%
Gold 1,542 ▲0.6%
Euro/US$ 1.4635 ▲1.0%
Dow 12,151 ▲0.8% FTSE100 5,855 ▲0.1% Nikkei 225 9,492 ▼0.7% MSCI Global 903 ▼0.7%
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GDRs (Previous day
close)
JAZIRA SECURITIES BROKERAGE
US$ % Change
AEZDq.l 10.00 -
COMIq.l 5.1 ▼1.0
ETELq.l 12.6 ▼10.8
HRHOq.l 7.4 ▼1.3
OCICq.l 44.1 ▲0.3
ORTEq.l 3.5 ▼0.2
Money Market (latest available)
Corporate Calendar
Company RIC Date Event Details
Sewedy Electric SWDY 31/5/2011
(Dis. date)
THE MORNING BULLETIN
Sunday, June 05, 2011
Rate
Inflation Rate (April 2011) 12.8%
Overnight deposits Rate 8.25%
Overnight lending Rate 9.75%
91 TB 11.56%
182 TB 12.56%
Overnight Interbank 8.54%
Remco Touristic Village RTVC 4/6/2011 OGM Approve FY10 results.
Mobinil EMOB 5/6/2011
(Dis. date)
Orascom Construction Industries
OCIC 6/6/2011 OGM Approve FY10 results & the US$1.0/share proposal
cash dividend
Housing & Dev. Bank HDBK 6/6/2011 OGM Approve FY10 results.
Cairo Housing ELKA 7/6/2011
(Dis. date)
Rowad Tourism ROTO 14/6/2011 OGM & EGM Approve FY10 results.
National Maize NCMP 20/6/2011
(Rec. date)
Cash Dividend EGP1.0/share (Dis. Date 5/6/2011)
Cash Dividend EGP3.16/share (Dis. Date 8/6/2011)
Cash Dividend EGP0.4/share (Dis. Date 12/6/2011)
Seuz Canal Bank CANA 8/6/2011 OGM Approve FY10 results.
Egypt Sponge FOAM 12/6/2011
(Dis. date)
Cash Dividend EGP3.0/share Second installment (Rec. Date was
7/4/2011)
EFG Hermes HRHO 13/6/2011 OGM & EGM Approve FY10 results & the 1:10 proposal stock dividend.
Media Production City MPRC 15/6/2011 OGM Approve FY10 results.
Cash Dividend EGP0.55/share first installments (Dis. Date 23/6/2011)
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JAZIRA SECURITIES BROKERAGE
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Arkadia Mall,
Cornich El Nil St., 8th Floor,
Cairo - Egypt
Tel: (+202) 2578 09 31-2
Fax: (+202) 2578 09 33
www.jaziracapital.com
THE MORNING BULLETIN
Sunday, June 05, 2011
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