The Asset Management Program
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Transcript of The Asset Management Program
Ministry of Investment
www.investment.gov.eg
The Asset Management Program
Ministry of Investment
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.
Ministry of Investment
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
Ministry of Investment
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
Ministry of Investment
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
Ministry of Investment
www.investment.gov.eg
1. Offering public assets , shares and companies for sale with overall consideration of public welfare
and labor rights
2. Restructuring public enterprises according to scientific, economic and technical feasibility
studies.
3. Emphasizing the Corporate Governance principles and guidelines in operating state owned
companies.
The Asset Management Program has adopted three main pillars
The Asset Management Program from July 2004
Ministry of Investment
www.investment.gov.eg
• 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
The Asset Management Program offers a diversified portfolio of investment opportunities in the form of :
The Asset Management Program from July 2004
Ministry of Investment
www.investment.gov.eg
The Asset Management ProgramNumber and Value of Sale Transactions
from 2000/2001 till may 2006
14494
381 952 543
5643
113
19
107
13
57
28
0
10
20
30
40
50
60
2000/2001 2001/2002 2002/2003 2003/2004 2004/2005 From Julytill 2005Present
Nn
mb
er
0
2000
4000
6000
8000
10000
12000
14000
16000
Sale
Valu
e M
illi
on
LE
Sale Value No of Transactions
Ministry of Investment
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
Ministry of Investment
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
Ministry of Investment
www.investment.gov.eg
Achievementsin the Banking Sector
From July 2004 - May 2006
The Asset Management Program
Transactions Total Sale Value in LE Million
NSGB 535.6MIBank 873
EAB 985CIB 1303Total 3696.6
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:.
Ministry of Investment
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
Ministry of Investment
www.investment.gov.eg
Investment OpportunitiesWithin
The Asset Management Program
Ministry of Investment
www.investment.gov.eg
Petrochemicals
Ministry of Investment
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
Statement 2002 2003 2004
Fixed Assets 2019 1865 1705
Revenues 656 1013 1665
Net Profit 638 288 734
Net Equity 1046 1328 1837
Ministry of Investment
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
Statement 2002 2003 2004
Fixed Assets 1127 1216 1859
Revenues The company under experiment run
267 129
Net Profit 2 99
Net equity 822 824 924
In million LE
Ministry of Investment
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
Statement 2002 2003 2004
Fixed Assets 78 78 183
Revenues The Company under experimental run
Net Profit -1 -11 -11
Net Equity 214 202 190
In million LE
Ministry of Investment
www.investment.gov.eg
Banking
Ministry of Investment
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
Statement 2001 2002 2003
Fixed Assets 75 73 71
Revenues 69 6 143
Net Profit 11 0 22
Net Equity 156 168 169
Main Activities:
Financial Status and Stock Market:
Authorized to sell:
Financial Indicators In million LE
Ministry of Investment
www.investment.gov.eg
Tourism Sector
Ministry of Investment
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
Statement 2002 2003 2004
Revenues 37484 45133 61548
Net Profit 24753 29604 33011
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:
Ministry of Investment
www.investment.gov.eg
Statement 2002 2003 2004
Revenues 90648 99480 81369
Net Profit 36554 40733 40134
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
Ministry of Investment
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.
Statement 2002 2003 2004
Fixed Assets 159 157 114
Revenues 10 21 31
Net Profit 9 18 22
Net Equity 199 214 225
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
Ministry of Investment
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)
Ministry of Investment
Chemical Industries
www.investment.gov.eg
Ministry of Investment
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
Statement 2001 2002 2003
Fixed Assets 391 443 471
Revenues 200 222 288
Net Profit 42 48 54
Net Equity 487 500 518
Main Activities:
Financial Status and Stock Market:
Authorized to sell:
Financial Indicators In million LE
Holding Co. for Metallurgical Industries
Ministry of Investment
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
Statement 2002 2003 2004
Fixed Assets 27 25 23
Revenues 30 23 13
Net Profit 63 55 64
Net Equity 427 421 424
Paints and chemical industries (PACHIN)
Main Activities:
Financial Status and Stock Market:
Authorized to sell:
Financial Indicators In MILLION LE
Ministry of Investment
Construction
www.investment.gov.eg
Ministry of Investment
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
Statement 2001 2002 2003
Fixed Assets 957 977 978
Revenues 502 461 510
Net Profit 100 35 54
Net Equity 734 644 669
Main Activities:
Financial Status and Stock Market:
Authorized to sell:
Financial Indicators In MILLION LE
Ministry of Investment
Metallurgical Industries
www.investment.gov.eg
Ministry of Investment
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
Statement 2001 2002 2003
Fixed Assets 468 470 470
Revenues 244 315 247
Net Profit -47 -37 -44
Net Equity 83 45 1
Main Activities:
Financial Status and Stock Market:
Authorized to sell:
Financial Indicators
In MILLION LE
Ministry of Investment
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.
Ministry of Investment
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.
Ministry of Investment
Thank You
www.investment.gov.eg