Kalsi linked the liquidity crisis to an increase in the trade balance deficit in Tunisia, which reached 19 million dinars ($6.3 million) in 2018 compared to …

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 30th May 2019).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD666 (+4.0%) / $718 (+4.2%) (weekly change) (+1.1% and +1.2% YTD change, respectively). The number of week traded shares was 8.2 bn and the weekly trading volume was IQD4.8 bn ($4.0 mn).

ISX Company Announcements

  • The Board of Directors of the initiative of Tamkeen, sponsored by the Central Bank of Iraq and financed by banks and exchange companies and under the supervision of the Association of Iraqi private banks, agreed to finance a number of industrial projects and initiatives in Muthanna province in the field of plastic and food industries and others. This comes in support of the economic reality and the alleviation of the unemployment rate in the province. It is worth mentioning that this initiative works to finance various industrial, service, environmental and social projects, and is distributed among all Iraqi governorates. (CBI.iq)
  • ISX will suspend trading of Al-Ameen Estate Investment (SAEI) starting Jun. 19, 2019 due to the AGM* that will be held on Jun. 24, 2019 to discuss and approve 2017 annual financial results.
  • ISX will suspend trading of Iraqi for Tufted Carpets (IITC) starting Jun. 13, 2019 due to the AGM* that will be held on Jun. 18, 2019 to discuss and approve 2018 annual financial results.
  • ISX will suspend trading of Baghdad Soft Drinks (IBSD) starting Jun. 10, 2019 due to the AGM* that will be held on Jun. 24, 2019 to discuss and approve 2018 annual financial results and increasing the company’s capital through bonus issue.

By John Lee.

The National Investment Commission (NIC) has published details of a new investment opportunity in the Roads and Bridges Sector:

Design, implement, operate and manage of rehabilitation project to the road connecting entrance No. (5) of Bismayah City with Muhammad Al Qasim Highway

The National Investment Commission and the Ministry of Construction, Municipalities and Public Works / Roads and Bridges Department are pleased to announce an investment opportunity to design, rehabilitation, operation and management of the road connecting entrance No. 5 of Basmaya residential City with Mohammed Al Qasim Highway.We invite Iraqi, Arab and foreign companies with experience and specialization in investment to participate and submit their offers for this project in accordance with the Investment Law No. (13) for 2006 (amended). Interested companies in the project (Rehabilitation and widening the (Kut – Baghdad) road connecting entrance No. (5) in Basmaya residential City and the intersection of Mohammed Al Qasim Highway from the Army Canal Street inside the city of Baghdad with 20 km length . The project consists of two parts, the first is outside the borders of Baghdad and the second is within the borders of Baghdad).Terms and Conditions are attached to the advertisement in our website

www.investpromo.gov.iq

www.moch.gov.iq

Bids may be sent to the National Investment Commission by an authorized person provided with a letter of authorization signed by the CEO no later than eleven o’clock on the closing day (Monday, 10/6/2019). No bid shall be submitted after the closing date.

Arab and foreign companies that do not have a branch in Iraq can send their offers through the international express mail and deliver it before the closing date. In case of the closing date is an official holiday, the following official working day will be the closing date.NIC and the Ministry are fully prepared to provide possible facilities to visit the project site and both are pleased to respond to queries received through the e-mail addresses oss@investpromo.gov.iq andinvestment@moch.gov.iqFor more information, please visit the below websites www.investpromo.gov.iq www.moch.gov.iq Rules and regulations for advertising investment projects, including the following:

Regarding the technical part, the following information must be attached to the offer:

  • Documents and data about the biding company with its professional biography and for other supporting companies and their nationalities.
  • A list of similar previous works carried out by the company in the field of investment or other works.
  • Determine the implementation period with a schedule that includes the business
  • implementation program for all project items.
  • Description of the tariff systems, mechanisms and management methods.
  • Determining the proposed duration of project implementation.

An integrated technical and economic feasibility study for the project:

The technical aspect of the study includes but is not limited to the following:

  • Project description
  • Engineering design limits
  • Geotechnical and hydrological study.
  • Detailed traffic study.
  • A study of the pavement layers of different sections of the road.

The economic study includes, but is not limited to the following:

Analysis of financial information to determine indicators of success or failure of the project and represent the cash flow table (capital assets – operational costs – project years (service age) with time change accounts and the expected interest rate on funds.The financial indicators of the project will be measured by the following criteria:

  • Simple rate of revenue

Breakeven

  • Recovery period of the invested capital
  • Guaranteed methods of the cash flow
  • Net current value of the estimated flows over the life of the project
  • Net current value rate to the current investment rate
  • Internal revenue rate
  • Sensitivity factor for the financial analysis inputs
  • financial analysis as in paragraph 1 “annex”
  • Investment period
  • Tariff
  • The governmental share
  • Insuring investment funds

With regard to the company’s obligations and documents, the following information must be provided:·          The company’s registration certificate (colored copy) certified by the concerned authorities for the national companies valid for the current year. The Arab and foreign companies shall be authenticated by the Iraqi Embassy in the country of incorporation and the Ministry of Foreign Affairs valid for the current year.·         The financial status of the company and its financial efficiency supported by a solid bank.·         The winning company shall pay the cost of the publication and the last announcement.

The data and information for the project are as follows:1.      Introduction to the project / importance of the project – the service provided by the product.2.      Historical background of the project / date of the idea and the beginning of its implementation – the year of listing.3.      Project data, including the project site, positioning with GPS and aerial imagery of the site.

Note: The investment project application form prepared by the National Investment Commission and the data and information contained herein are considered to be an integral part of the data referred to above.

(Source: NIC)

Advertising Feature

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 23rd May 2019).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD640 (+3.0%) / $689 (+3.0%) (weekly change) (-2.9% and -2.9% YTD change, respectively). The number of week traded shares was 9.4 bn and the weekly trading volume was IQD3.2 bn ($2.6 mn).

ISX Company Announcements

  • ISX will suspend trading of Al-Khatem Telecoms (TZNI) starting May. 27, 2019 due to the AGM* that will be held on May. 30, 2019 to discuss and approve 2017 and 2018 annual financial reports.
  • ISX will suspend trading of Al-Wiaam for Financial Investment (VWIF) starting May. 27, 2019 due to the AGM* that will be held on May. 30, 2019 to discuss and approve 2017 annual financial report.
  • National Household Furniture Industry (IHFI) will resume trading on May. 26, 2019 due to disclosing its 2018 annual financial results. The opening price will be IQD0.90 with +/-50% change.
  • AL-Sadeer Hotel (HSAD) completed the legal procedures to increase capital from IQD1.239 bn to IQD1.735 bn through 40% rights issue.
  • Region Trade Bank for Investment and Finance (BRTB) completed the procedures of increasing the bank’s original and alternative members from 5 to 7 members.
  • New shares of Dar Al-Salam for Insurance (NDSA) from the capital increase to IQD7.0 bn through 40% rights issue resumed trading on May. 22, 2019.
  • Iraqi for Seed Production (AISP) resumed trading on May. 21, 2019 due to disclosing 2018 annual financial results.
  • Procedures of Al-Bilad Islamic Bank for Investment & Finance (BLAD) have been completed to change the bank’s name to Al-Ataa Islamic Bank for Investment & Finance.
  • According to the Board of Insurance, Ahliya for Insurance (NAHF) resumed trading on May. 19, 2019.