Today’s Top News & Analysis
Ministry of Petroleum & Mineral Resources to receive two LNG shipments
EGAS received 5 LNG shipments
MOIL Q1 2024: Strong results with 152% y/y increase in net profits
MACRO
Ministry of Petroleum & Mineral Resources to receive two LNG shipments
Sources said that the Ministry of Petroleum & Mineral Resources will receive two LNG shipments in the Ain Sokhna Port within the next 10 days. The two shipments will contain a total of 145 thousand tons of LNG. (Al Arabiya)
EGAS received 5 LNG shipments
Sources said that the state-owned Egyptian Natural Gas Holding Co. (EGAS) received 5 LNG shipments with a total of 155-thousand cubic meters. EGAS is supposed to receive a total of 21 LNG shipments. (Al-Mal)
CORPORATE
MOIL Q1 2024: Strong results with 152% y/y increase in net profits
Maridive & Oil Services [MOIL] reported net profit of US20.4mn in Q1 2024, 152% y/y higher driven by higher average prices within the shipping & petroleum services sector as well as increased operations of high-priced marine units in the shipping support sector.
Key Highlights:
Revenues increased 35% y/y to USD56.1mn.
Gross profit surged 50% y/y to USD17.6mn, on effective expense rationalization and the identification of competitive alternatives led to a decrease in operating expenses. (Company disclosure)
MARKETS PERFORMANCE
Key Dates
17-Jul-24
MICH: Stock dividend / Last date for eligibility for a 0.5-for-1 stock dividend.
BIOC: Cash dividend / Deadline for eligibility for a dividend of EGP0.75/Share.
18-Jul-24
MICH: Stock dividend / Date for distributing a 0.5 for-1 stock dividend.
MPC Meeting / Determining the CBE's policy rate.
EMFD: EGM / Approving increasing the issued capital & amending Articles No. 6 & 7 of the company's bylaws.
IDHC: EGM / Discussing Articles No 3 & 57 of the company's bylaws.
22-Jul-24
BIOC: Cash dividend / Payment date for a dividend of EGP0.75/Share.
24-Jul-24
IFAP: EGM / Amending Articles No. 3, 4 & 6 of the company's bylaws.
EAST: OGM / Approving the sale of a plot of land and netting contracts.
EAST: EGM / Amending Article No. 7 of the company's bylaws.
28-Jul-24
EGBE: Stock dividend / Last date for eligibility for a 0.021-for-1 stock dividend.
29-Jul-24
EGBE: Stock dividend / Date for distributing a 0.021 for-1 stock dividend.
31-Jul-24
TMGH: Cash dividend / Payment date for a dividend of EGP0.11/Share (2nd installment)
ACAMD: EGM / Amending Article No. 21 of the company's bylaws.