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The Asset Management Program

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  • 1. www.investment.gov.eg The Asset Management Program
  • 2. www.investment.gov.eg Egyptian Reform and Privatization Program
    • The Government of Egypt has embarked on a comprehensive Reform Program since the late eighties with the target of transforming the economy from the central planning system to free economy ruled by market forces.
    • The privatization program was launched in 1991 as the corner stone of the overall reform program. It started with 314 companies distributed over 27 holding company.
  • 3. www.investment.gov.eg No of Transactions Total Sale Value in LE Billion 216 17.9 Achievements of the Privatization Program From 1991 – June 2004 Achievement of The privatization Program
  • 4. www.investment.gov.eg
    • From July 2004 the new government gathered all tools of investment under one roof which is the new Ministry of Investment.
      • The General Authority For Investment (GAFI)
      • The Capital Market Authority
      • The Stock Exchange
      • The Public Enterprise Companies
      • Insurance Companies
    The New Vision
  • 5. www.investment.gov.eg
    • In an attempt to increase efficiency of public enterprises to operate in a competitive market controlled by supply and demand,
    • and in an attempt to attract local, regional and foreign direct investment, The Ministry of Investment has adopted from July 2004 the Asset Management Program.
    The New Vision
  • 6.
    • Offering public assets , shares and companies for sale with overall consideration of public welfare and labor rights
    • Restructuring public enterprises according to scientific, economic and technical feasibility studies.
    • Emphasizing the Corporate Governance principles and guidelines in operating state owned companies.
    www.investment.gov.eg The Asset Management Program has adopted three main pillars The Asset Management Program from July 2004
  • 7.
    • Public Enterprise Companies
    • Public shares in Joint Ventures
    • Unutilized Assets in Public Enterprises
    • Affiliated Companies to other ministries where Ministry of Investment provides technical assistance in the sale process
    www.investment.gov.eg The Asset Management Program offers a diversified portfolio of investment opportunities in the form of : The Asset Management Program from July 2004
  • 8. www.investment.gov.eg The Asset Management Program
  • 9. www.investment.gov.eg Achievements of The Asset Management Program From July 2004 - June 2005 No of Transactions Total Sale Value in LE Billion 28 5.6 The Asset Management Program
  • 10. www.investment.gov.eg Achievements of The Asset Management Program From July 2005 - May 2005 No of Transactions Total Sale Value in LE Billion 57 14.5 The Asset Management Program
  • 11.
    • In cooperation with the Central Bank of Egypt and the banking sector, the Egyptian Asset Management Programme successfully supervised and monitored the sale of the four major Joint Venture Banks from Feb. 2005 till Feb 2006 as follows:.
    www.investment.gov.eg Achievements in the Banking Sector From July 2004 - May 2006 The Asset Management Program Transactions Total Sale Value in LE Million NSGB 535.6 MIBank 873 EAB 985 CIB 1303 Total 3696.6
  • 12. www.investment.gov.eg The Asset Management Program for the year 2005/2006 includes 45 Public Enterprise Company and public shares in 57 Joint Ventures operating in different and attractive sectors as follows : Future plans Petrochemicals Banking Chemical Indst. Construction Food Industries Transport Services Metallurgical Indst Tourism
  • 13. www.investment.gov.eg Investment Opportunities Within The Asset Management Program
  • 14. www.investment.gov.eg Petrochemicals
  • 15. www.investment.gov.eg (60%) Sidi–Krare for petrochemicals – SIDPEC The company works in the field of production of primary & Intermediate & Final petrochemicals Main Activities: The capital issued in L.E equal to 1.2 billion. Total shares are 10.2 Million. The share par value is 100L.E. The company is not listed in the Stock Market. Financial Status and Stock Market: National Bank of Egypt Authorized to sell: Financial Indicators In million LE 1837 1328 1046 Net Equity 734 288 638 Net Profit 1665 1013 656 Revenues 1705 1865 2019 Fixed Assets 2004 2003 2002 Statement
  • 16. www.investment.gov.eg (60%) Alexandria for Metallurgical Oil Co. (AMOC) Main Activities: Financial Status and Stock Market: Authorized to sell: Financial Indicators Production of Metallurgical Oil (Equalized, Special, Absolute & Final) & Paraffin Wax Products & Marketing it inside & outside Egypt. The capital issued in L.E 820 Million. Total shares are 8.2 Million. The share par value is 100L.E.The Company is not listed in the Stock Market National Bank of Egypt In million LE 924 824 822 Net equity 99 2 Net Profit 129 267 The company under experiment run Revenues 1859 1216 1127 Fixed Assets 2004 2003 2002 Statement
  • 17. www.investment.gov.eg (84%) Alexandria for Specialty Petroleum Products Co. (ASPC) Main Activities: Financial Status and Stock Market: Authorized to sell: Financial Indicators Install, Run, Management Petrochemical Assemble The capital issued in L.E 200 Million. Total shares are 20 Million. The share par value is 100L.E. The company is not listed in the Stock Market. National Bank of Egypt In million LE 190 202 214 Net Equity -11 -11 -1 Net Profit The Company under experimental run Revenues 183 78 78 Fixed Assets 2004 2003 2002 Statement
  • 18. www.investment.gov.eg Banking
  • 19. www.investment.gov.eg (37%) Egyptian Saudi Finance Bank Performing all banking services & financial transactions The capital issued in L.E. equal to 150 Million. Total shares are 2142871. The share par value is L.E. 7 The Bank is listed in the Stock Market. & shares Circulation activated Bank of Alexandria Main Activities: Financial Status and Stock Market: Authorized to sell: Financial Indicators In million LE 169 168 156 Net Equity 22 0 11 Net Profit 143 6 69 Revenues 71 73 75 Fixed Assets 2003 2002 2001 Statement
  • 20. www.investment.gov.eg Tourism Sector
  • 21. www.investment.gov.eg Constructing hotels mainly connected with international hotel chains which take over the management of constructed hotels such as the Hilton Hotel. It also constructs tourist villages and entertainment parks Main Activities: Financial Indicators In thousand LE Sale Delegate Misr Hotels Co. Holding Company for Housing, Tourism & Cinema The capital issued in L.E. equal to 49.5 million Financial Status and Stock Market: 29604 45133 2003 24753 37484 2002 Net Profit Revenues Statement 33011 61548 2004
  • 22. www.investment.gov.eg Main Activities: Financial Indicators In thousand LE Sale Delegate El Maamoura Housing land reclamation, Housing, construction of touristic sites, leasing and investing agricultural land, as well as sale or renting lands. The capital issued in L.E. equal to 75 million Financial Status and Stock Market: Holding Company for Housing, Tourism & Cinema 40733 99480 2003 36554 90648 2002 Net Profit Revenues Statement 40134 81369 2004
  • 23. www.investment.gov.eg (48%) Building Hotels, tourism village, Motels, restaurants, casino & complementary services for these constructions like entertainment tools, commercial stores & shops also building & installation for these construction & Managing it The capital issued in L.E equal to 100 Million. Total shares are 1Million. The share par value is 100L.E. The company is listed in the Stock Market & shares circulation activated. Main Activities: Financial Status and Stock Market: Authorized to sell: Financial Indicators In million Holding co. for Housing Tourism & Cinema Rowad Misr for Tourist Investment 225 214 199 Net Equity 22 18 9 Net Profit 31 21 10 Revenues 114 157 159 Fixed Assets 2004 2003 2002 Statement
  • 24. www.investment.gov.eg The Site is between the Mediterranean coast and the North Africa international highway 125 km west of Alexandria and 280 km north of Cairo Objective: The objective of the project is to develop the plot into a tourist Attraction point for European & Arabs Sidi Abd El-Rahman Gulf (El Alamin)
  • 25. Chemical Industries www.investment.gov.eg
  • 26. www.investment.gov.eg (46%) Egyptian Financial and Industrial Co. Manufacture Producing chemical materials and fertilizers The capital issued is L.E. 259.9Million. Total shares are 6497028. The share par value is L.E. 40.The Company is listed in the Stock Market & shares circulation activated Main Activities: Financial Status and Stock Market: Authorized to sell: Financial Indicators In million LE Holding Co. for Metallurgical Industries 518 500 487 Net Equity 54 48 42 Net Profit 288 222 200 Revenues 471 443 391 Fixed Assets 2003 2002 2001 Statement
  • 27. www.investment.gov.eg (46%) The company is the producing paints, varnishes, printing inks, and animal bone products. The capital issued is L.E. 200 millions. Total shares are 20 Million. The share par value is L.E. 10.The Company is listed in the Stock Market. & shares circulation activated Holding Co. for Chemical Industries Paints and chemical industries (PACHIN) Main Activities: Financial Status and Stock Market: Authorized to sell: Financial Indicators In MILLION LE 424 421 427 Net Equity 64 55 63 Net Profit 13 23 30 Revenues 23 25 27 Fixed Assets 2004 2003 2002 Statement
  • 28. Construction www.investment.gov.eg
  • 29. www.investment.gov.eg (22%) Portland Tora Cement Manufacturing & producing all types of cement The capital issued in L.E. equal to 238,414,000. Total shares are 23,841,400. The share par value is L.E. 10 The Company is listed in the Stock Market & shares circulation activates. Banque Misr Main Activities: Financial Status and Stock Market: Authorized to sell: Financial Indicators In MILLION LE 669 644 734 Net Equity 54 35 100 Net Profit 510 461 502 Revenues 978 977 957 Fixed Assets 2003 2002 2001 Statement
  • 30. Metallurgical Industries www.investment.gov.eg
  • 31. www.investment.gov.eg (71%) Suez Steel Company Producing steel by fusion in electric furnaces The capital issued in L.E. equal to 136.5 Million. Total shares are 1364616. The share par value is L.E. 100 The Company is not listed in the Stock Market. & shares Circulation inactivated Banque du caire Main Activities: Financial Status and Stock Market: Authorized to sell: Financial Indicators In MILLION LE 1 45 83 Net Equity -44 -37 -47 Net Profit 247 315 244 Revenues 470 470 468 Fixed Assets 2003 2002 2001 Statement
  • 32. www.investment.gov.eg Future Plans
    • Bank of Alexandria is currently being Offered for sale as the first State owned bank being privatized.
    • The Insurance sector is currently being restructured to offer one of its companies for sale.
  • 33. www.investment.gov.eg The Sale Procedures The Ministry of Investment has modified asset and companies sale procedures to ensure :
    • Speed
    • Efficiency
    • Transparency
    To materialize these principles, all necessary decrees and regulations have been issued and the result is :
    • ONE Entity monitoring and coordinating the sale process.
    • ONE entity specialized for endorsing valuations.
    • ONE set of procedures that is unified, generalized and published for the selling process.
  • 34. Thank You www.investment.gov.eg