Pre-Trading Thoughts 30/9/2021


-Environment Protection Agency is reconsidering the USD33.9 million compensation claim levied on ORHD
-Cabinet approved a draft law that simplifies licensing procedures for hotels and tourism companies
-Cabinet also approved extending the exemption of foreign airlines from paying annual fees until 30 April 2022
-Tourism investment companies are negotiating with the Tourism Development Authority to settle the issue of revoked land due to slow development of less than 10.0%
-e-finance received FRA approval for EGX listing
-Finance Minister confirmed 1 October the final deadline for the implementation of Advanced Cargo Information (ACI) system (e-finance)
-Amending the Traffic Law to license motorbikes and lowering the license age to 16 years might benefit AUTO
-AUTO achieved sales of 16,728 cars of the Hyundai brand in 8M 2021, with a jump in Chery brand sales
-AUTO's Drive is expanding geographically and intends to open 4 branches in 1Q2022
-ACGC FY20/21 net loss narrowed down to EGP23.0 million, compared to a net loss of EGP188 million in FY19/20
-Orascom Pyramids, has signed an EGP170 million contract with ORAS for the Giza pyramids sound and light
-UEFM proposed the distribution of FY20/21 DPS of EGP10.0, implying DY of 9.8%

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