GCC Morning Brief - 29 March

Transcription

1. U Capital Research U Capital Morning Brief GCC Market Indices 29 March 2017 Current Close Previous Close Change D /D MTD YTD Index Index Point % % % Muscat Securities Market Saudi Stock Exchange Kuwait Stock Exchange Qatar Exchange Bahrain Stock Exchange 999.91 1,143.60 1,007.46 64.13 5,543.09 6,872.77 7,051.84 10,461.81 1,377.56 1,010.18 1,148.62 1,007.04 64.13 5,603.80 6,852.13 7,032.26 10,428.53 1,382.71 -10.27 -5.02 0.42 0.00 (60.71) 20.64 19.58 33.28 (5.15) -1.02% -0.44% 0.04% 0.00% -1.08% 0.30% 0.28% 0.32% -3.30% -1.82% -1.62% -1.96% -4.10% -1.43% 3.96% -2.25% -5.04% -2.94% -1.10% -1.67% -4.14% -4.68% 22.68% 0.24% -0.37% 2.07% 12.87% Dubai Financial Market 3,446.97 3,454.39 (7.42) -0.21% -5.05% -2.38% Abu Dhabi Sec. Exchange 4,469.66 4,465.28 4.38 0.10% -1.81% -1.69% U-Capital Oman 20 Index U-Capital GCC 50 Index U-Capital MENA 200 Index Bloomberg GCC200 Index Source: Bloomberg World Markets* Country Value Change Europe FTSE 100 DAX CAC 40 D/D United Kingdom Germany France 7,343.4 12,149.4 5,046.2 49.92 153.35 28.77 0.68 1.28 0.57 USA USA USA 20,701.5 2,358.6 5,875.1 150.52 16.98 34.77 0.73 0.73 0.60 NIKKEI 225 Japan 19,197.4 (12.51) (0.07) HANG SENG Hongkong 24,392.5 38.06 0.16 United States DJIA S&P 500 NASDAQ Commodity Prices* Price Change USD USD % Brent Crude (per bbl) Updated 51.49 0.16 0.31 WTI Crude (per bbl) Updated 48.55 0.19 0.39 Oma n Crude Oil 50.18 0.44 0.88 % (Last Clo sing) Gold100 OZ (per oz) D/D 1,248.85 (3.00) (0.24) Silver (per oz) 18.06 (0.13) (0.73) Pla tinum (per oz) 953.60 (0.54) (0.06) Asia Pacific Selected Middle East Tunis Se Index Tunis 5,562.7 (7.67) (0.14) EGX 30 Index Egypt 12,982.7 13.02 0.10 Blom Stock Index Lebanon 1,231.2 0.02 0.00 Source: Bloomberg, U-Capital- at 8:30AM M uscat time Copper, MT 5,873.00 113.00 1.96 Aluminium, MT 1,944.00 14.00 0.73 Lea d, MT 2,329.00 32.00 1.39 Zinc, MT 2,823.00 63.00 2.28 Nickel, MT 9,995.00 225.00 2.30 So urce: B lo o mberg, U-Capital- at 8:30A M M uscat time Cross Rate for Major Currencies* Currency Code USD/1 Unit Euro EUR 1.082 0.925 Bri ti s h Pound GBP 1.241 0.806 111.230 Ja pa nes e Yen Units/1 USD JPY 0.009 Chi nes e Renmi nbi CNH 0.146 6.875 Indi a n Rupee INR 0.015 64.978 Rus s i a n Rubl e RUB 0.018 57.032 Ca na di a n Dol l a r CAD 0.747 1.339 Aus tra l i a n Dol l a r AUD 0.765 1.308 Source : Bloomberg Note: all prices/ indices are updated till 8:30 AM M uscat 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 2494 9000 l Fax: +968 2494 9099 l Email: info@u-capital.net l Web: www.u-capital.net
2. U Capital Research OMAN ECONOMIC & CORPORATE NEWS Omani companies can register online from August Omani companies can register themselves online from August, officials announced after an agreement was signed between Data Park and the Oman Chamber of Commerce and Industry (OCCI), which took place at COMEX on Tuesday. Source: Times of Oman Privatization, investment banks needed for capital market growth: CMA chief A comprehensive privatization programme for state-owned companies and standalone investment banks are pre-requisites for developing a vibrant capital market in Oman, according to a top-level official at the Capital Market Authority (CMA). Source: Times of Oman VAT registration required for firms with annual revenues of $100,000+ More details have emerged about the scope and specifics of the proposed value added tax (VAT) regime due to be rolled out in Oman, and the wider Gulf Cooperation Council (GCC) region, effective from January 1, 2018. According to leading global professional advisory services firm EY, businesses with an annual revenue of over $100,000 will be required to register for VAT purposes once a legal framework for the new indirect tax is formally in place. Source: Oman Observer Al Anwar sells 20pc stake in Falcon Al Anwar Holdings has completed the sale of 20.35 per cent of its stake in Falcon Insurance Company, which has acquired the Oman branches of Arabia Insurance. In a filing on Muscat Securities Market, the company said it sold 1.3 million shares at a price of 1.876 rial per share and the net sale proceeds would amount to 2.43 million shares. Source: Oman Tribune MIDDLE EAST ECONOMIC & CORPORATE NEWS Protective duty to check GCC steel imports soon An initiative by steel makers of the GCC states to persuade their governments to impose protective duties on cheap imports of the metal has made progress and a decision is expected soon, Naushad Ansari, CEO of Jindal Shadeed Iron and Steel (JSIS), has said. Source: Oman Tribune Saudi Arabia, Jordan to set up $3 bln investment vehicle Saudi King Salman and King Abdullah of Jordan have signed several bilateral agreements, including a deal to set up a Saudi-Jordanian investment vehicle to invest up to $3 billion in Jordan between the Public Investment Fund (PIF) and Jordan Islamic Bank (JIB). Source: Argaam DHL to deliver Bombardier trains for Riyadh metro German logistics firm Deutsche Post’s DHL will deliver 47 Bombardier train sets from the production site in Sahagun, Mexico, to Saudi Arabia for Riyadh’s new metro line. Source: Argaam UAE cbank to reduce size of EIBOR panel before NBAD-FGB merger The central bank of the United Arab Emirates will reduce the size of the Emirates Interbank Offered Rate (EIBOR) panel from 11 to 10 banks starting Wednesday, March 29, ahead of the merger between National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB). Source: Argaam Amazon to acquire Dubai’s Souq.com Global e-commerce giant Amazon has agreed to acquire online retailer Souq.com, marking its move to the Middle East, the two companies said in a joint statement Tuesday, without mentioning a value for the deal. Source: Argaam Selective tax could bring Saudi Arabia SAR 15 bln in annual revenue Saudi Arabia expects nearly SAR 15 billion in annual revenue from the planned selective tax, Okaz newspaper reported on Tuesday, citing Suleiman Al-Dahyan, indirect tax director at the General Authority of Zakat and Tax (GAZT). Source: Argaam 2 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 2494 9000 l Fax: +968 2494 9099 l Email: info@u-capital.net l Web: www.u-capital.net
3. U Capital Research Abu Dhabi Ports announces expansion of free trade zone Abu Dhabi Ports on Tuesday announced the expansion of free trade zone to accommodate more industries . Khalifa Port Free Trade Zone (KPFTZ) is a 100 square kilometer free zone area located adjacent to Khalifa Port. Source: Zawya VAT could hurt cash-flows of some UAE construction firms: tax expert The sale of new real estate units in the United Arab Emirates (UAE) will not be subject to value-added tax (VAT) when the new tax system is implemented, but it could impact cash flows and credit agreements for some construction firms, a tax expert said. Source: Zawya Qatar's Ezdan real estate developer sets initial price guidance for five-year dollar sukuk Qatari real estate developer and operator Ezdan Holding has set initial price guidance for a five-year U.S. dollar-denominated sukuk issue in the 5.125 percent area, a document issued by one of the lead banks showed on Tuesday. Source: Zawya INTERNATIONAL ECONOMIC & CORPORATE NEWS Asia stocks up with dollar, sterling suffers on Brexit day Asian shares inched ahead on Wednesday while the dollar and commodities held gains as investors shook off disappointment about U.S. President Donald Trump's failed healthcare bill and focused on an improving outlook for global growth. Sources: Reuters Consumer confidence hits 16-year high in boost to economy U.S. consumer confidence surged to a more than 16-year high in March amid growing labor market optimism while the goods trade deficit narrowed sharply in February, indicating the economy was regaining momentum after faltering at the start of the year. Source: Reuters COMMODITIES NEWS Oil rises on Libyan supply disruptions, likely OPEC output cut extension Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPECled output reduction will be extended into the second half of the year. Source: Reuters <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 2494 9000 l Fax: +968 2494 9099 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 SEMBCORP SALALAH** 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 PETROLEUM PRODUCTS MAR OOREDOO AL OMANIYA FINANCIAL SER AL JAZEERA SERVICES* OMAN CEMENT COMPANY PHOENIX POWER SALALAH BEACH RESORT SAOG OMAN ORIX LEASING AL JAZEERA STEEL PRODUCTS** OMAN OIL MARKETING AL BATINAH POWER AL SUWADI POWER ALMAHA CERAMICS 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 AL MADINA TAKAFUL MUSCAT FINANCE OMAN UNITED INSURANCE OMAN CHLORINE SALALAH MILLS OMAN INVESTMENT AND FINANCE SMN POWER HOLDING VOLTAMP ENERGY A'SAFFA FOODS SAOG OMINVEST UNITED FINANCE NATIONAL FINANCE DHOFAR BEVERAGES FOOD STUFF GLOBAL FINANCIAL INVESTMENT OMANTEL HSBC OMAN BANK SOHAR AL ANWAR CERAMIC TILES Cash Div DPS OMR Proposed Cash OMR Div payout Dividend 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% 13.8% 75.0% 50.0% 10.0% 30.0% 25.0% 40.0% 4.0% 5.0% 100.0% 42.0% 17.0% 15.0% 30.0% 7.9% 8.0% 9.0% 23.0% 60.0% 9.0% 10.0% 30.2% 85.0% 15.9% 28.5% 13.5% 106.0% 20.0% 11.0% 55.0% 10.0% 9.5% 10.0% 6.0% 10.0% 30.0% 15.0% 40.0% 16.0% 16.0% 18.0% 20.0% 15.0% 8.0% 14.0% 5.0% 5.0% 110.0% 5.0% 5.0% 8.0% 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 0.014 0.750 0.050 0.010 0.030 0.025 0.040 0.004 0.005 0.100 0.042 0.017 0.015 0.030 0.008 0.080 0.009 0.023 0.060 0.009 0.010 0.030 0.085 0.016 0.029 0.014 0.106 0.020 0.011 0.055 0.100 0.010 0.010 0.006 0.010 0.030 0.015 0.040 0.016 0.016 0.018 0.020 0.015 0.008 0.014 0.005 0.005 0.110 0.005 0.005 0.008 500,000 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 13,173,093 2,250,000 850,625 962,500 900,000 62,406,256 280,000 200,070 450,000 6,900,000 27,339,658 4,553,680 918,064 9,926,181 11,554,552 500,000 2,259,355 2,872,653 3,676,500 6,073,987 7,144,063 1,587,600 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 1,050,000 2,667,156 3,000,000 1,021,555 1,926,523 3,200,000 3,194,170 1,089,000 2,400,000 9,536,863 2,486,120 3,795,755 100,000 1,000,000 82,500,000 10,001,564 8,022,497 2,369,709 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% 90.0% 119.9% 76.8% 25.8% 111.9% 35.3% 55.8% 42.3% 40.6% 85.3% 59.0% 68.4% 58.3% 77.1% 62.6% 100.4% 40.8% 62.4% 38.3% 73.2% 78.8% 75.9% 50.0% 42.1% 102.4% 43.8% 62.9% 62.8% 21.6% 192.4% 37.3% 53.8% 48.1% 63.2% 54.4% 74.0% 49.9% 52.2% 55.3% 27.2% 30.0% 52.5% 39.9% 55.2% 59.8% 75.4% 117.0% 70.7% 59.3% 42.0% 139.4% 9.1% 4.6% 6.6% 6.7% 4.9% 9.3% 3.0% 2.7% 3.8% 8.3% 6.8% 2.4% 4.0% 4.7% 5.6% 60.0% 7.1% 3.2% 5.4% 6.5% 3.0% 3.1% 4.3% 6.9% 7.9% 6.1% 8.5% 6.0% 5.6% 5.8% 6.9% 11.1% 3.2% 5.0% 5.4% 6.9% 5.0% 7.2% 10.8% 6.0% 5.6% 3.2% 2.4% 19.0% 11.7% 7.6% 5.3% 7.0% 7.6% 7.2% 3.1% 2.9% 7.0% 2.3% 3.3% 3.0% 2.8% 5.3% 9.0% 1.9% 3.0% 7.7% 4.0% 3.4% 5.2% 421,093,814 53.2% 6.6% AGM Date 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 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 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 23-Mar-17 26-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 27-Mar-17 28-Mar-17 28-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 30-Mar-17 NA Source: MSM Note: Proposed dividends of companies with year end of *Ordinary shareholders only **Total dividends 4 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 2494 9000 l Fax: +968 2494 9099 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 2494 9000 Fax: +968 2494 9099 Email: research@u-capital.net 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. 5 P.O.BOX 1137, PC 111 – CPO, Sultanate of Oman l CR No. 1279406 l Tel: +968 2494 9000 l Fax: +968 2494 9099 l Email: info@u-capital.net l Web: www.u-capital.net