GCC Morning Brief - 15 March

Transcription

1. U Capital Research U Capital Morning Brief GCC Market Indices 15 March 2017 U-Capital Oman 20 Index U-Capital GCC 50 Index U-Capital MENA 200 Index Bloomberg GCC200 Index Muscat Securities Market Saudi Stock Exchange Kuwait Stock Exchange Qatar Exchange Bahrain Stock Exchange Current Close Index 1 ,007.35 1,135.23 1,017.52 63.91 5,697.61 6,790.71 6,790.40 10,314.20 1,374.57 Previous Close Index 1,013.81 1,136.46 1,019.53 63.94 5,715.82 6,787.80 6,711.57 10,361.43 1,370.84 Change Point -6.46 -1.23 -2.01 -0.03 (18.21) 2.91 78.83 (47.23) 3.73 D/D % -0.64% -0.11% -0.20% -0.05% -0.32% 0.04% 1.17% -0.46% 0.27% MTD % -2.58% -2.54% -0.64% -2.29% -1.43% -2.61% 0.11% -3.62% 1.84% YTD % -4.33% -3.65% -0.11% -2.01% -1.47% -5.82% 18.13% -1.17% 12.63% Dubai Financial Market 3,468.58 3,501.18 (32.60) -0.93% -4.46% -1.76% Abu Dhabi Sec. Exchange 4,387.96 4,382.32 5.64 0.13% -3.61% -3.48% Source: Bloomberg World Markets* United Kingdom Germany France 7,357.9 11,988.8 4,974.3 (9.23) (1.24) (25.34) D/D % (0.13) (0.01) (0.51) USA USA USA 20,837.4 2,365.5 5,856.8 (44.11) (8.02) (18.97) (0.21) (0.34) (0.32) NIKKEI 225 Japan 19,561.8 (53.36) (0.27) HANG SENG Hongkong 23,815.0 (12.92) (0.05) Tunis Se Index EGX 30 Index Tunis Egypt 5,575.3 12,789.5 12.21 (139.61) 0.22 (1.08) Blom Stock Index Lebanon 1,232.0 3.31 0.27 Country Value Change Europe FTSE 100 DAX CAC 40 Commodity Prices* Price Change D/D USD USD % Brent Crude (per bbl) Updated 51.68 0.76 1.49 WTI Crude (per bbl) Updated 48.58 0.85 1.78 Oman Crude Oil (Last Closing) 49.62 (0.66) (1.31) Gold100 OZ (per oz) 1,201.65 2.79 0.23 Silver (per oz) 16.93 0.06 0.38 Platinum (per oz) 940.14 2.60 0.28 United States DJIA S&P 500 NASDAQ Asia Pacific Selected Middle East Copper, MT 5,820.00 24.00 0.41 Aluminium, MT 1,860.00 (21.00) (1.12) Lead, MT 2,223.50 (51.50) (2.26) Zinc, MT 2,749.50 5.50 0.20 Nickel, MT 10,230.00 60.00 0.59 Source: Bloomberg, U-Capital- at 8:30AM Muscat time Source: Bloomberg, U-Capital- at 8:30AM Muscat time Cross Rate for Major Currencies* Currency Code USD/1 Unit Units/1 USD Euro EUR 1.062 0.942 British Pound GBP 1.216 0.823 114.790 Japanese Yen JPY 0.009 CNH 0.145 6.901 Indian Rupee INR 0.015 65.534 Russian Ruble RUB 0.017 59.155 Canadian Dollar CAD 0.743 1.347 Australian Dollar AUD 0.757 1.320 Chinese Renminbi Source : Bloomberg Note: all prices/indices are updated till 8:30 AM Muscat time.* markets are closed on Saturday and Sunday 1 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net
2. U Capital Research OMAN ECONOMIC & CORPORATE NEWS MEDC’s initial public offering expected before June, says CMA chief Oman government’s disinvestment of 49 per cent stake in state-owned Muscat Electricity Distribution Company (MEDC) by way of an initial public offering (IPO) is expected before June this year, a top-level official at the Capital Market Authority (CMA) told the Times of Oman. Source: Times of Oman Galfar Engineering’s loss increases to OMR10.8m on additional impairment Galfar Engineering & Contracting Company on Tuesday said that the group’s consolidated losses have been revised to OMR10.82 million for 2016, after adjusting an additional impairment of receivables of OMR4.5 million and investment of OMR2 million for another associate company in India. Source: Times of Oman Private players to power 1b-rial Duqm rail corridor The Sultanate is scouting for private players to develop the 1 billion rial rail corridor connecting Dhofar mining areas with Duqm port. Oman Global Logistics Group, the infrastructure holding company of the government, is in talks with private sector mining companies to set up the 350km rail link jointly, a top official told Oman Tribune on Tuesday. Source: Oman Tribune JV begins work on $450m Mall of Oman Construction work on the Mall of Oman — a super-regional retail destination — has commenced at Madinat Al Irfan, the new central business hub taking shape near Muscat International Airport. Majid Al Futtaim Holding (MAF), a leading developer, owner and operator of shopping malls, hotels and mixed-use communities in the Middle East and North Africa, is developing the signature project — one of several landmarks that will anchor the iconic Madinat Al Irfan urban scheme being developed by Omran. Source: Oman Observer MIDDLE EAST ECONOMIC & CORPORATE NEWS Profit of UAE airlines expected to fall this year: IATA The profitability of airlines in the United Arab Emirates, one of the Middle East's two big aviation hubs, is expected to fall this year, the director-general of the International Air Transport Association (IATA) told reporters on Tuesday. Source: Times of Oman GCC VAT framework to be made available shortly: EY With Value Added Tax (VAT) set to be a reality in the GCC from January 1, 2018, local businesses have less than 10 months to prepare for VAT implementation and also ensure compliance with VAT laws in each GCC country in which they operate, according to EY, a leading provider of assurance, tax, transaction and advisory services. Source: Oman Observer Saudi Arabia could make SAR 75 bln from expat fees by 2020 Saudi Arabia expects to generate SAR 74.9 billion in revenue by 2020 from fees imposed on expat employees and their dependents, Al Rajhi Capital said in a recent report. The fees, which are set to come into effect by mid-2017, are forecast to account for 45 to 50 percent of incremental non-oil revenue by 2020. Source: Argaam Finance is still the biggest obstacle for SMEs - Dubai Chamber chairman A lack of funding from banks for small and medium-sized enterprises (SMEs) is the prime obstacle to establishing a strong entrepreneurial ecosystem in Dubai, despite the government’s efforts to support and nurture young businesses, the chairman of Dubai Chamber of Commerce and Industry told Zawya in an interview last month. Source: Zawya Qatar Exchange has healthy pipeline of IPOs, to launch ETFs The Qatar Stock Exchange has a healthy pipeline of initial public offerings (IPOs), along with a couple of (ETFs) ready for launch, a senior official said on Tuesday. Source: Zawya exchange traded funds King Salman, SoftBank chief said to discuss plans for $100 bln fund Saudi Arabia’s King Salman and SoftBank Group Corp’s chairman Masayoshi Son will meet on Tuesday in Tokyo to discuss plans for a $100 billion technology-investment fund, Reuters reported citing an unnamed source close to the matter. No further details were provided on the planned meeting between the Saudi monarch and the billionaire entrepreneur investor. Source: Argaam 2 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net
3. U Capital Research Saudi finance ministry , GACA form committee to supervise airport privatization Saudi Arabia’s Ministry of Finance and the General Authority of Civil Aviation (GACA) have formed a committee to oversee the transfer of the kingdom’s airports and their land from GACA to the new Civil Aviation Holding Co., Al-Madinah newspaper reported. Source: Argaam ENBD Reit to list on Nasdaq Dubai on March 23 ENBD Reit will list on Nasdaq Dubai on March 23, a media invite from its manager Emirates NBD Asset Management said on Tuesday. ENBD Reit is a real estate investment trust currently focused on the UAE and the fund has a consistent dividend payout history of between 5-7 per cent per annum. Source: Zawya Gulf companies consider listing on Nomu, says CMA official Companies from the Gulf Cooperation Council (GCC) have contacted Saudi Arabia's Capital Market Authority (CMA) to list on the country’s Nomu Parallel Market, said Yarub Awadh Albadi, chief of CMA's initial public offering unit. The companies are in the process of appointing advisers to support their potential listings, Albadi said during a conference in Dubai. Source: Argaam INTERNATIONAL ECONOMIC & CORPORATE NEWS Asian Stocks Follow U.S. Lower Amid Wild Oil Swing: Markets Wrap Crude oil whipsawed on production and stockpiles reports, while Asian stocks followed U.S. and European equities lower before an expected interest-rate hike by Federal Reserve policy makers. Source: Bloomberg Unilever CEO urges UK to provide 'level playing field' after Kraft bid Fresh from defending Unilever (ULVR.L) against an unsolicited $143 billion takeover attempt by Kraft Heinz (KHC.O), CEO Paul Polman said the British government should ensure a level playing field for target companies. Source: Reuters COMMODITIES NEWS OPEC oil output falls in February; Saudi leads supply cuts OPEC’s oil output decreased by 140,000 barrels per day (bpd) in February to 31.96 million barrels per day (mbd), with output from Saudi Arabia, the United Arab Emirates and Iraq showing the largest declines, the producer group said in its monthly report Tuesday. Source: Argaam Saudi Arabia Says It Has Reversed a Third of Its Production Cuts Saudi Arabia told OPEC it dialed back on some of its supply cuts last month, pumping more than 10 million barrels a day as it replenished its own storage tanks. Source: Bloomberg <Please scroll down for information on Proposed Cash Dividends of Companies for 2016> 3 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net
4. U Capital Research Proposed Cash Dividend for 2016 Company Name 2016 NAT . PHARMACEUTICAL IND. OMAN REFRESHMENT OMAN FIBER OPTIC OMAN PACKAGING AREEJ VEGET. OILS AND DERIV AL BATINAH DEV. INV. HOLDING MUSCAT THREAD MILLS OMAN CHROMITE COMPUTER STATIONERY IND GULF STONES OMAN NATIONAL ENGINE. INVT GULF HOTELS NATIONAL BISCUIT INDUSTRIES RAYSUT CEMENT HOTELS MANAGEMENT CO. INT NATIONAL DETERGENT AL KAMIL POWER MUSCAT GASES BANK MUSCAT SWEETS OF OMAN UBAR HOTELS and RESORTS AL SHARQIA INVESTMENT HOLDING ALMAHA CERAMICS ALMAHA PETROLEUM PRODUCTS MAR OOREDOO AL ANWAR CERAMIC TILES AL OMANIYA FINANCIAL SER AL JAZEERA SERVICES* OMAN CEMENT COMPANY AL JAZEERA STEEL PRODUCTS** PHOENIX POWER SALALAH BEACH RESORT SAOG OMAN ORIX LEASING OMAN OIL MARKETING AL BATINAH POWER AL SUWADI POWER OMAN CABLES INDUSTRY NATIONAL BANK OF OMAN GULF INTERNATIONAL CHEMICALS BANK DHOFAR SHELL OMAN MARKETING SALALAH PORT SERVICES NATIONAL GAS PORT SERVICES CORPORATION MUSCAT NATIONAL HOLDING TAAGEER FINANCE AHLI BANK MUSCAT FINANCE OMAN UNITED INSURANCE SMN POWER HOLDING OMAN CHLORINE VOLTAMP ENERGY A'SAFFA FOODS SAOG OMINVEST UNITED FINANCE NATIONAL FINANCE DHOFAR BEVERAGES FOOD STUFF OMANTEL HSBC OMAN GLOBAL FINANCIAL INVESTMENT SEMBCORP SALALAH** BANK SOHAR SALALAH MILLS AL MADINA TAKAFUL Cash Div 10.0% 100.0% 30.0% 20.0% 20.0% 8.0% 2.5% 10.0% 10.0% 10.0% 10.0% 25.0% 15.0% 65.0% 75.0% 50.0% 10.0% 30.0% 25.0% 40.0% 4.0% 5.0% 30.2% 100.0% 42.0% 8.0% 17.0% 15.0% 30.0% 23.0% 7.9% 8.0% 9.0% 60.0% 9.0% 10.0% 85.0% 15.9% 28.5% 13.5% 106.0% 20.0% 11.0% 55.0% 10.0% 9.5% 10.0% 10.0% 30.0% 16.0% 15.0% 18.0% 20.0% 15.0% 8.0% 14.0% 5.0% 110.0% 5.0% 5.0% 13.9% 5.0% 40.0% 6.0% DPS OMR Proposed Cash OMR Div payout Dividend Yield AGM Date 0.010 0.100 0.300 0.020 0.200 0.008 0.003 0.100 0.010 0.010 0.010 0.250 0.150 0.065 0.750 0.050 0.010 0.030 0.025 0.040 0.004 0.005 0.030 0.100 0.042 0.008 0.017 0.015 0.030 0.023 0.008 0.080 0.009 0.060 0.009 0.010 0.085 0.016 0.029 0.014 0.106 0.020 0.011 0.055 0.100 0.0095 0.010 0.010 0.030 0.016 0.015 0.018 0.020 0.015 0.008 0.014 0.005 0.110 0.005 0.005 0.014 0.005 0.040 0.006 500,000 5,000,000 2,164,535 648,717 1,380,000 240,000 36,965 300,000 100,000 363,000 1,000,000 857,081 150,000 13,000,000 2,250,000 850,625 962,500 900,000 62,406,256 280,000 200,070 450,000 1,587,600 6,900,000 27,339,658 2,369,709 4,553,680 918,064 9,926,181 2,872,653 11,554,552 500,000 2,259,355 3,676,500 6,073,987 7,144,063 7,624,500 23,478,518 598,500 20,853,835 10,070,000 3,596,748 605,000 5,227,200 500,000 2,409,105 14,250,361 2,667,156 3,000,000 3,194,170 1,021,555 1,089,000 2,400,000 9,536,863 2,486,120 3,795,755 100,000 82,500,000 10,001,564 1,000,000 13,268,550 8,022,497 1,926,523 1,050,000 38.0% 48.4% 85.3% 49.3% 89.1% 62.7% 55.7% 61.3% 79.6% 96.9% 80.1% 49.4% 23.2% 62.7% 119.9% 76.8% 25.8% 111.9% 35.3% 55.8% 42.3% 40.6% 75.9% 85.3% 59.0% 139.4% 68.4% 58.3% 77.1% 62.4% 62.6% 100.4% 40.8% 38.3% 73.2% 78.8% 50.0% 42.1% 102.4% 43.8% 62.9% 62.8% 21.6% 192.4% 37.3% 53.8% 48.1% 54.4% 74.0% 27.2% 49.9% 30.0% 52.5% 39.9% 55.2% 59.8% 75.4% 70.7% 59.3% 70.0% 90.7% 42.0% 52.2% 63.2% 9.1% 4.6% 6.6% 6.7% 4.9% 9.1% 2.7% 2.7% 3.8% 8.3% 6.8% 2.4% 4.0% 4.5% 60.0% 7.1% 3.2% 5.2% 5.7% 3.0% 3.1% 4.0% 6.3% 6.4% 7.3% 5.0% 5.9% 7.8% 6.1% 9.5% 5.5% 5.8% 6.7% 3.2% 4.6% 5.2% 5.2% 6.5% 9.7% 5.5% 5.3% 3.2% 2.1% 18.3% 5.6% 7.5% 5.0% 7.4% 7.3% 2.3% 3.1% 3.2% 3.0% 2.8% 5.2% 9.0% 1.9% 8.0% 3.8% 3.0% 5.7% 3.3% 2.7% 6.3% 22-Feb-17 1-Mar-17 1-Mar-17 1-Mar-17 1-Mar-17 5-Mar-17 8-Mar-17 8-Mar-17 8-Mar-17 8-Mar-17 12-Mar-17 13-Mar-17 14-Mar-17 14-Mar-17 15-Mar-17 15-Mar-17 15-Mar-17 16-Mar-17 19-Mar-17 19-Mar-17 19-Mar-17 19-Mar-17 20-Mar-17 20-Mar-17 20-Mar-17 21-Mar-17 21-Mar-17 21-Mar-17 21-Mar-17 21-Mar-17 21-Mar-17 22-Mar-17 22-Mar-17 23-Mar-17 23-Mar-17 23-Mar-17 26-Mar-17 26-Mar-17 26-Mar-17 27-Mar-17 27-Mar-17 27-Mar-17 27-Mar-17 27-Mar-17 27-Mar-17 27-Mar-17 27-Mar-17 28-Mar-17 28-Mar-17 28-Mar-17 28-Mar-17 29-Mar-17 29-Mar-17 29-Mar-17 29-Mar-17 29-Mar-17 30-Mar-17 30-Mar-17 30-Mar-17 30-Mar-17 2-Apr-17 NA NA NA 417,989,271 53.2% 6.3% Source: MSM Note: Proposed dividends of companies with year end of December subject to shareholder and regulator approval *Ordinary shareholders only **Total dividends 4 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net
5. U Capital Research Ubhar Capital SAOC (U Capital) Website: www.u-capital.net PO Box 1137 PC 111, Sultanate of Oman Tel: +968 24754301/672 Fax: +968 2412 5125 Email: research@u-capital.net 5 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net
6. U Capital Research Disclaimer : This report has been prepared by research department in Ubhar Capital SAOC (U Capital), and is provided for information purposes only. Under no circumstances is to be used or considered as an offer to sell or solicitation of any offer to buy. While all reasonable care has been taken to ensure that the information contained therein is not untrue or misleading at the time of publication, we make no representation as to its accuracy or completeness and it should not be relied upon as such, and the bank accepts no responsibility whatsoever for any direct or indirect consequential loss arising from any use of this report or its contents. All opinions and estimates included in this document constitute U Capital’s Research department judgment as of the date of production of this report, and are subject to change without notice. This report may not be reproduced, distributed or published by any recipient for any purpose. 6 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 24754301/672 l Fax: +968 24125125 l Email: info@u-capital.net l Web: www.u-capital.net