Today’s Top News & Analysis
Egypt’s natural gas exports reach USD8.4bn in 2022
EXPA expects 18% annual earnings growth in 2023
Raya Contact Center approves adjusting loan terms to its subsidiary
Maridive and Oil Services aims to sell Valentine Maritime by Q1 2023
POCO spent around EGP300mn in 2021/22
MACRO
Egypt’s natural gas exports reach USD8.4bn in 2022
Egypt’s natural gas exports rose 14% y/y to reach 8mn tons in 2022, bringing in USD8.4bn, according to Ministry of Petroleum statement. (Enterprise)
CORPORATE
EXPA expects 18% annual earnings growth in 2023
Export Development Bank of Egypt [EXPA] expects annual net earnings growth in 2023 of 18%. The bank also set a growth target of 12% for both of its deposits and loan book in 2023. We note that annual earnings growth for EXPA during 9M 2022 is 168%. (Company disclosure)
Raya Contact Center approves adjusting loan terms to its subsidiary
Raya Contact Center [RACC] approved to increase the loan to its Bahrini subsidiary Gulf Customer Experience from USD0.5mn to USD3.5mn, to be paid within two years. (Company disclosure)
Maridive and Oil Services aims to sell Valentine Maritime by Q1 2023
Maridive and Oil Services [MOIL] aims to close the sale of Valentine Maritime by Q1 2023. To recap, MOIL received two offers to buy Valentine Maritime from Ancla Marine Ship Management and Al Gihaz Holding in October 2022 and November 2022 respectively. (Al-Borsa)
POCO spent around EGP300mn in 2021/22
Port Said Container Handling Co. [POCO] undertook projects worth EGP297mn during 2021/22. The projects were mainly centered around expanding storage yards and transit. (Al-Mal)
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