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Thursday, 21 May 2020

Heikal appears on EGX Talks to discuss how covid-19 is impacting Qalaa Holdings

Ahmed Heikal on EGX Talks: Qalaa chairman Ahmed Heikal sat down for the first installment of the Egyptian Exchange’s EGX Talks Youtube series (watch, runtime: 18:38), which launched to keep retail investors engaged during the pandemic. Among the highlights:

  • “We are in good shape”: Qalaa’s portfolio is diverse, with 46 companies in nine industries — a structure that has helped cushion the impact of the crisis. While some of its companies have been hard hit, others have remained relatively unaffected, Heikal said.
  • Tax deadline deferral aiding investment: The government’s decision to push companies’ tax deadlines has enabled Qalaa to largely stick to its planned investment program, he said.
  • Low oil prices will have an impact on refinery ERC’s profits despite it running at maximum capacity.
  • Qalaa has deferred a portion of its employees’ salaries to help the company maintain liquidity, which will be paid after the pandemic is over.

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