MENA's Most Valuable Newly Listed Co

Newly listed companies
Marwa Farrukh
Market Analyst marwaf@zawya.com
MENA's Most Valuable:
Sandra El Gemayel
Market Analyst sandrag@zawya.com
Wissam Keyrouz
Market Analyst wissamk@zawya.com
www.zawya.com
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For many years now, the Middle East and North Africa region has undergone a lot of scrutiny due to its political, financial and economic activity. Investors have shown a great deal of interest in the MENAs financial sector and stock markets due to their great confidence in the latters potential growth. As a result of this interest, stock markets have experienced an increase in trading activity and the number of listed companies. The focus of our project is the newly listed companies in the MENA region. We tracked these companies since their listing date and observed the change in stock prices and overall performance through each companys financial and market data. Consequently, we classified each company according to its performance. We narrowed down our search to 37 companies based on the following criteria: Listed on a MENA stock market. Established between the years 2005 and 2011. Listed between January 1, 2009, and May 31, 2011. Minimum required amount of financial data available. We used both financial and market performance indicators to monitor each company. We calculated Operating Profit Margin as the financial indicator of the return achieved from the standard operations of the company, and Value Traded/ Market Capital as the market indicator of the companys liquidity. We also considered the price flow of each company starting from the listing date until June 30, 2011, representing market performance and price volatility, and then calculated the percentage change in price. Each company is accompanied by its profile, a general overview and a summary of the corporate actions which indicate how active it is. Each ratio is assigned a certain weight according to Zawyas assessment of financial indicators and according to its importance, and classification will be done accordingly. The weights are assigned as follows: Value Traded/ Market Capital (40%) Operating Profit Margin (50%) Percentage change in price (10%) We found that our top five companies belong to the Financial Services and Retail sectors and to the Kuwaiti, Syrian, Qatari and Palestinian markets. However, the five lowest raking companies all belong to the Financial Services sector in the Saudi market.
Summary
Executive
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COMPANY OVERVIEW & PERFORMANCE
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Al Imtiaz Investment Company

(ALIMTIAZ.KSE)
Listing Date: 04/19/2011
Establishment Date: 2005 Sector: Financial Services Industry: Investment Firms and Funds Market: Kuwait stock exchange
Principal Activities:
Direct investment in various sectors; investment banking services; asset management services; brokerage services; all in accordance with Islamic principles.
Corporate Actions:
On June 23, 2011 the company announced that it has agreed with shareholders of Tamdeen Shopping Centers Company to acquire 15% stake (150 million shares) in the latter for a price of KWD 0.13 per share, which still awaits the authorities' approval. On July 6, 2011 National Industries Company announced that it has agreed with the company to exit from its QAR 40.5 million investment in the portfolio of the latter's 60% owned subsidiary, Barwa Al Khor, during Q2- 2011 and that it has received the first payment of QAR 10.125 million. On July 17, 2011 the company announced that it has acquired 40% stake (60 million shares) in Beyoo Finance and Investment Company for a value of KWD 6.6 million, after receiving the Capital Market Authority's approval.
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United Insurance Company

(UIC.XDSE)
Establishment Date: 2006 Sector: Financial Services Industry: Insurance Market: Damascus Securities Exchange
Provides life and non-life insurance
Corporate Actions:
On April 4, 2010 the company announced that the AGM was held and approved the distribution of 85.76% cash dividends for the year ended December 31, 2009. On March 23, 2011 the company announced that the AGM approved the distribution of 13% cash dividends for the year ended December 31, 2010.
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Syrian National Insurance Company

(NIC.XDSE)
Provides life and non-life insurance services; reinsurance services
Corporate Actions:
On April 21, 2011 the company announced that the AGM was held and approved the distribution of 10% cash dividends for the year ended December 31, 2010.
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Syria International Islamic Bank

(SIIB.XDSE)
Provides life and non-life insurance services; reinsurance services
Corporate Actions:
On February 11, 2010 the bank announced that it has opened three new branches in Syria. On May 3, 2010 the bank announced that the EGM was held and approved the capital increase by issuing 15,000,000 new shares. On July 29, 2010 the bank announced that the Central Bank of Syria has approved the distribution of 9.22% bonus shares for the year ended December 31, 2009. On February 16, 2011 the bank announced that the Syrian Commission on Financial Markets and Securities has approved the increase in the bank's capital by SYP 2,038,618,500 (4,077,237 shares). On June 29, 2011 the Syrian Commission on Financial Markets and Securities approved the 5:1 stock split. On August 23, 2011 the bank announced that the Syrian Commission on Financial Markets has approved the distribution of 8.16% bonus shares.
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Syria Gulf Bank

(SGB.XDSE) Listing Date: 08/15/2010
Establishment Date: 2007 Sector: Financial Services Industry: Banking Market: Damascus Securities Exchange
Provides commercial banking services including deposits, loans and credit cards.
Corporate Actions:
On September 23, 2010 the EGM was held and approved the capital increase from SYP 5 billion to SYP 7.5 billion through a 50% rights issue during the year of 2011. On September 23, 2010 The EGM was held and approved the capital increase from SYP 7.5 billion to SYP 10 billion through a 33.33% rights issue during the year of 2012. On July 5, 2011 the bank announced that the Syrian Commission on Financial Markets and Securities approved the bank's 5:1 stock split. On August 18, 2011 the bank announced that the Syrian Commission on Financial Markets and Securities has approved the 66.67% rights issue.
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Qatar National Bank Syria

(QNBS.XDSE)
Provides commercial banking services including deposits, loans and credit cards; fund management including wealth management.
Corporate Actions:
On June 30, 2009 the bank announced it will offer 34% (3.4 million shares) of its capital in an initial public offering (IPO) at the price of SYP 500 per share. The IPO will open on July 12, 2009 and will close on August 10, 2009. On May 17, 2010 the bank announced that the EGM was held and approved the increase of Qatar National Bank's stake in Qatar National Bank - Syria from 49% to 55%. On September 21, 2010 the company announced that it has received The Credit and Monetary Council's approval to increase its capital from SYP 5 billion to SYP 15 billion. On November 1, 2010 the bank announced that the Syrian Commission on Financial Markets and Securities approved the capital increase by SYP 10 billion through a 66.66% rights issue. On January 11, 2011 the bank announced that it, along with a consortium of four local banks, has signed a ten-year, USD 77 million loan with Bena Properties (Syria) to finance the latter's Yasmeen Rotana Hotel project in Syria.
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Fransabank Syria
(FSBS.XDSE)
Corporate Actions:
On January 11, 2011 the bank announced that it has offered 36% (1,260,000 shares) of its capital in an initial public offering (IPO) at the price of SYP 500. The subscription opened on February 10, 2008 and closed on March 13, 2008. On January 11, 2011 the bank announced that it, along with a consortium of four local banks, has signed a ten-year, USD 77 million loan with Bena Properties (Syria) to finance the latter's Yasmeen Rotana Hotel project in Syria. On April 19, 2011 the bank announced that the BOD proposed the capital increase from SYP 5.25 billion to SYP 10.5 billion, which awaits the EGM and authorities' approvals. The increase is expected to become effective in May 2012. On June 13, 2011 the bank announced that it has received the final approval from the Syrian market regulator to increase its capital by SYP 3.5 billion through issuing 7 million shares.
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10
Byblos Bank Syria

(BBS.XDSE)
Corporate Actions:
On June 21, 2005 the bank announced that it has offered 15% (600,000 shares) of its capital in an initial public offering (IPO) at a price of SYP 575 per share. The subscription opened on July 05, 2005 and closed on July 19, 2005. On January 12, 2010 the bank announced that the EGM was held and approved the capital increase to SYP 6 billion through a rights issue divided. On May 3, 2010 the bank announced that the AGM approved the distribution of SYP 40 per share cash dividend for the year ended December 31, 2009. On January 11, 2011 the bank announced that it, along with a consortium of four local banks, has signed a ten-year, USD 77 million loan with Bena Properties (Syria) to finance the latter's Yasmeen Rotana Hotel project in Syria. On June 13, 2011 the Syrian Commission on Financial Markets and Securities approved the 3% bonus shares for the year ended December 31, 2010. On August 4, 2011 the bank announced that the Syrian Commission on Financial Markets and Securities approved the 48.54% rights issue. g
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11
Bank of Jordan Syria

(BOJS.XDSE)
Corporate Actions:
On May 28, 2011 the AGM and EGM were held and approved the 5:1 stock split. On May 31, 2011 the bank announced that the AGM and EGM were held and approved the bank's capital increase to SYP 5 billion, through a secondary offering.
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12
Bank Al-Sharq
(SHRQ.XDSE)
Provides commercial banking services; investment banking services; asset management services; brokerage services.
Corporate Actions:
On December 5, 2010 the bank announced that it has offered 20.5% (512,500 shares) of its capital in an initial public offering at the price of SYP 1,000 per share.
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13
Al Aqeelah Takaful Insurance Company

(ATI.XDSE)
Provides Islamic life and non-life insurance services
Corporate Actions:
On May 4, 2011 the company announced that the AGM approved the distribution of 5% cash dividends for the year ended December 31, 2010. On June 19, 2011 the company announced that the Court of First Instance ruled in favor of Al-Aqeelah Leasing Finance and Investment Company (Kuwait) in which Mr. Hamed Mohammad Abbas Hajiah's shares were frozen, specifically his shares in the company and the dividends received.
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14
Weqaya Takaful Insurance and Reinsurance Company

(8220.SSE)
Establishment Date: 2009 Sector: Financial Services Industry: Insurance Market: Tadawul Stock Exchange
Provides Islamic non-life insurance services; reinsurance services
Corporate Actions:
On April 16, 2009 the company announced that it will offer 40% of its shares in an initial public offering that will open on April 18, 2009 and close on April 27, 2009.
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15
National Petrochemical Company - Saudi Arabia

(2002.SSE)
Establishment Date: 2008 Sector: Oil and Gas Industry: Investment Companies Market: Tadawul Stock Exchange
Invests in petrochemical, gas, petroleum and industrial chemicals industries; manufacture of ethylene, high and low density polyethylene, propylene, polypropylene, polystyrene and hexane-1.
Corporate Actions:
On June 18, 2009 the company announced that it will offer 240 million shares of its capital in an initial public offering at the price of SAR 10 per share. The subscription period will start on July 18, 2009 and will end on July 24, 2009. On April 23, 2011 Saudi Industrial Investment Group announced that its BOD met and discussed the possibility of a merger with the company. On May 30, 2011 the company announced that its BOD decided to postpone the study of the merger until the production of "Saudi Polymers Company" project begins and can be used to conduct future estimates.
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16
Solidarity Saudi Takaful Company

(8290.SSE)
Provides Islamic non-life insurance services.
Corporate Actions:
On February 28, 2010 the company announced that it will offer 40% (22,200,000 shares) of its capital in an Initial Public Offer (IPO) at the price of SAR 10 per share. The IPO will start on March 22, 2010 and will end on March 28, 2010. On October 3, 2010 the company announced that its stock was added to the Tadawul Index according to the closing price of September 29, 2010.
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17
Knowledge Economic City Company

(4310.SSE)
Establishment Date: 2010 Sector: Real Estate Industry: Landlords and Developers Market: Tadawul Stock Exchange
Real estate property investment, development and management of the Knowledge Economic City project.
Corporate Actions:
On February 28, 2010 the company announced that it will offer 30% of its shares in an initial public offering (IPO) that will open on May 9, 2009. On October 3, 2010 the company announced that its stock was added to the Tadawul Index according to the closing price of September 29, 2010. On January 19, 2011 the company announced that it will enter a 50:50 limited liability joint venture with Saudi Real Estate Company, to establish a new company with a capital of SAR 50 million. On March 27, 2011 the company announced that its joint-venture with Saudi Real Estate Company, has signed a purchase agreement regarding a 86,222 square meters parcel of land in Al-Madina Al-Monawara, for a total value of SAR 86,222,000, to build 206 residential villas. On April 19, 2011 the company announced that it has awarded a SAR 305 million contract to Al Rajhi Holding Group's subsidiary, Al Rajhi Construction, to implement infrastructural works for the northern region of Knowledge Economic City Company. On June 1, 2011 the company announced that Al Marifa Al Aqaria, its 50:50 joint venture with Saudi Real Estate Company, has awarded a SAR 176 million (USD 20.3 million) contract to Al Dar Al Arabia Company, for the construction of 206 villas in Medina, which are expected to be
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18
Etihad Atheeb Telecommunication Company

(7040.SSE)
Establishment Date: 2008 Sector: Telecommunications Industry: General Retailers Market: Tadawul stock exchange
Manages and operates fixed telecommunication network; provides wireless telecommunication services including voice, data services, Internet services, Internet telephony and video services.
Corporate Actions:
On January 24, 2009 the company announced that it has signed a SAR 200 million (USD 53.4 million) contract with Etihad Etisalat Company through which the latter's unit, Bayanat Al Oula for Network Services, will supply the company with services to expand its data transmission On April 14, 2009 the company announced that Atheeb Group has entered a joint venture with NetSol Technologies Incorporation to establish a new software development and IT services company, under the name of "Atheeb NetSol Limited" (Saudi Arabia). On July 5, 2009 the company's stock was added to the Tadawul All Shares Index according to the closing price of July 1, 2009. On October 24, 2009 the company announced that it has entered an agreement with Mobile Telecommunications Company (Zain) to assure quality services to customers. On January 16, 2010 the company announced that it has launched mobile 4G services in Saudi Arabia.
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19
Al Rajhi Company for Cooperative Insurance

(8230.SSE)
Establishment Date: 2009 Sector: Financial Services Industry: Insurance Market: Tadawul stock exchange
Provides Islamic non-life insurance and reinsurance services
Corporate Actions:
On January 21, 2010 the Saudi Arabian Monetary Agency granted the company ten additional licenses in the field of transport, personal and labor insurance. On April 16, 2011 the company announced that it has signed a five-year agency agreement with Al-Rajhi Takaful agency for the sale and marketing of the company's products through the branches of Al Rajhi Bank.
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20
Al Alamiya for Cooperative Insurance Company

(8280.SSE)
Establishment Date: 2009 Sector: Financial Services Industry: Insurance Market: Tadawul stock exchange
Provides non-life insurance services; reinsurance services, all according to Islamic principles.
Corporate Actions:
On December 26, 2011 the company announced that it has received the Saudi Arabian Monetary Agency's approval to open five points of sale in Saudi Arabia.
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21
Buruj Cooperative Insurance Company

(8270.SSE)
Corporate Actions:
On January 31, 2010 the company announced that it has offered 40% (5,200,000 shares) of its capital in an initial public offering at the price of SAR 10 per share. The subscription opened on October 3, 2009 and closed on October 9, 2009. On June 8, 2011 the AGM was held and approved the purchase of the insurance portfolio of Saudi Pearl Insurance Company.
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22
Gulf General Cooperative Insurance Company

(8260.SSE)
Provides non-life and life insurance services; reinsurance services.
Corporate Actions:
On June 20, 2011 the company announced that it has offered 55% (66,000,000 shares) of its capital in an Initial Public Offering at a price of AED 1.035 per share.
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23
Amana Cooperative Insurance Company

(8310.SSE)
Provides non-life insurance services.
Corporate Actions:
On October 3, 2010 the company's stock was added to the Tadawul Index according to the closing price of September 29, 2010.
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24
Arab Weavers Union Company

(ARWU.ASE)
Establishment Date: 2006 Sector: Industrial Manufacturing Industry: Basic Materials and Industrial Products Market: Amman stock exchange
Manufacture of carpet, polypropylene yarn and paper tubes and cans.
Corporate Actions:
On April 4, 2011 the company announced the distribution of 3% cash dividends.
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25
Ubour Logistic Services

(TRUK.ASE)
Establishment Date: 2009 Sector: Transport Industry: Transportation Services Market: Amman stock exchange
Provides international and local land transportation services of cargo.
Corporate Actions:
On February 28, 2011 the company announced the capital increase from JOD 3 million to JOD 6.5 million
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26
Ammoun International Multilateral Investment

(AMON.ASE)
Establishment Date: 2007 Sector: Financial Services Industry: Investment Firms and Funds Market: Amman stock exchange
Investment in companies involved in agriculture, real estate, industrial, travel and tourism and financial services.
Corporate Actions:
On June 4, 2011 the company announced that it has acquired a 33% stake in Aragen Company.
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27
Alisraa Investment and Islamic Finance Company

(ISRA.ASE)
Establishment Date: 2008 Sector: Financial Services Industry: Investment Firms and Funds Market: Amman stock exchange
Provides personal and commercial financing products including loans and credit and smart cards; private equity investments; investment banking including investment advisory services; funds management; real estate and property management and financing; all according to Islamic principles.
Corporate Actions:
On June 25, 2008 the company announced 33.33% of its capital for public offering On July 13, 2010 the company announced that it has acquired a stake in Jordan Saudi Emirates Investments Company for a total value of JOD 750,000. On April 17, 2011 the company announced the distribution of 15% cash dividends.
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28
Jordan Masaken for Land and Industrial Development Projects

(MSKN.ASE)
Establishment Date: 2008 Sector: Real Estate Industry: Landlords and Developers Market: Amman stock exchange
Real estate investment and development company.
Corporate Actions:
On April 4, 2011 the company announced the acquisition of 500,000 of Falcon for Investment and Financial Services share capital at a price of JOD 1 per share. On June 6, 2011 Falcon for Investment and Financial Services announced that it has acquired a 20% to 51% stake in the company. On June 20, 2011 the company announced that its fully owned subsidiary, Masaken Al Hejaz Investment and Real Estate Development Company, plans to secure a JOD 4.5 million loan from a Jordanian Bank. On June 21, 2011 the company announced that the Ministry of Industry and Trade has approved the company's registration for the Trade Mark "Masaken Capital". On July 19, 2011 the company's fully owned subsidiary, Masaken Al Hejaz Investment and Real Estate Development
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29
Sura for Development and Investment

(SURA.ASE)
Real estate investment and development of hotels and other property.
Corporate Actions:
On April 4, 2011 Amman Stock Exchange decided to suspend trading in the company's shares, effective April 4, 2011, until the latter discloses its financial statements for the year ended December 31, 2010.
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30
Alentkaeya for Investment and Real Estate Development

(ENTK.ASE)
Real estate property investment, development and management.
Corporate Actions:
On October 22, 2008 the company announced that it has offered 66.11% (5,950,000 shares) of its capital for public subscription. On August 30, 2010 the Jordan Securities Commission approved the capital increase by 1,503,370 shares through a secondary offering. The new shares will get listed on Amman Stock Exchange effective September 2, 2010. On June 7, 2011 the company, along with four other companies, has submitted a tender offer to Southern Oil Company (Iraq) to provide oil and gas pipelines for a value of USD 87,429,271, USD 67,635,856, and USD 66,537,865. If approved, the company will make a 5% profit on the value of the tender. On June 15, 2011 the company announced that it has been awarded the exclusive right to distribute Kenwood radios in Iraq. On June 22, 2011 the company announced that it has been awarded the exclusive right to distribute EURO Dairy products in the Middle East.
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Al-Safweh for Financial Investments Company

(SFWA.ASE)
Establishment Date: 2005 Sector: Financial Services Industry: Securities Brokers &Traders, Investment Banking Market: Amman stock exchange
Provides brokerage services; financial advisory services.
Corporate Actions:
No Corporate actions
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32
Al Meera Consumer Goods Company

(MERS.DSM)
Establishment Date: 2005 Sector: Retail Industry: General Retailers Market: Qatar stock exchange
Ownership and operation of supermarkets and hypermarkets.
Corporate Actions:
On March 29, 2010, the company announced that the AGM was held and approved the distribution of 45% cash dividends for the year ended December 31, 2009. On November 25, 2010 the company announced that it has signed a QAR 2 billion financing agreement with Masraf Al Rayan to finance its development and expansion plans. On April 18, 2011 the company announced the distribution of 50% cash dividends for the year ended December 31, 2011. On July 14, 2011 the company announced that it has acquired Giant Stores and Al Oumara Bakery Company.
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33
Green Crescent Insurance Company

(GCIC.ADSM)
Establishment Date: 2008 Sector: Financial Services Industry: Insurance Market: Abu Dhabi Stock Exchange
Provides health insurance services.
Corporate Actions:
On June 1, 2008 the company announced that it will offer 55% (137.5 million shares) of its capital to the public. On June 27, 2010 the company announced that it has signed a memorandum of understanding with Al Noor Hospitals to develop a Chronic Illness Management program. On March 8, 2011 the company has signed a service level agreement with Dubai Health Authority, to provide the company's members with access to DHA Public Hospitals and Primary Health Care Centers.
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34
Insurance House
(IH.ADSM)
Establishment Date: 2011 Sector: Financial Services Industry: Insurance Market: Abu Dhabi Stock Exchange
Corporate Actions:
On June 20, 2011 the company announced that it has offered 55% (66,000,000 shares) of its capital in an Initial Public Offering at a price of AED 1.035 per share.
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35
Al-Takaful Palestinian Insurance Company

(TIC.PSE)
Listing Date:5/4/2011
Establishment Date: 2007 Sector: Financial Services Industry: Insurance Market: Palestine Stock Exchange
Corporate Actions:
On May 22, 2011 the company announced the distribution of 5% cash dividends.
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36
Global United Insurance Company

(GUI.PSE)
Establishment Date: 2010 Sector: Financial Services Industry: Insurance Market: Palestine Stock Exchange
Corporate Actions:
No Corporate Actions.
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37
GlobalCom Telecommunications
(GCOM.PSE)
Establishment Date: 2006 Sector: Telecommunications Industry: Telecommunications Services Market: Palestine Stock Exchange
Provides Internet services, voice over Internet protocol and international calling services.
Corporate Actions:
On April 25, 2010 the EGM was held and approved the increase of the company's capital to USD 15 million. On March 3, 2011 the company announced that it has been exempt from paying income taxes for a 5-year period, followed by a 50% income tax reduction for the following 12 years.
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Wataniya Palestine Mobile Telecommunications Company

(WATANIYA.PSE)
Establishment Date: 2007 Sector: Telecommunications Industry: Telecommunications Services Market: Palestine Stock Exchange
Operates and manages GSM mobile telecommunications network.
Corporate Actions:
On January 10, 2011 the company announced that it has raised a total of USD 50.3 million through an Initial Public Offering at a price of USD 1.30 per share.
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Grand Investment Capital

(GRCA.CASE)
Establishment Date: 2007 Sector: Financial Services Industry: Securities Brokers and Traders Market: Egyptian Stock Exchange.
Provides brokerage services; asset management including fund, wealth and portfolio management; investment banking services including investment advisory on mergers and acquisitions, initial public offering and underwriting.
Corporate Actions:
On June 23, 2010 the AGM was held and approved the distribution of EGP 0.2 per share cash dividends for the year ended March 31, 2010. On August 22, 2010 the company announced the change in its name from Grand Holding Company for Financial Investments to Grand Investment Capital. On September 16, 2010 the BOD met and approved the sale of the company's 7% stake in its fully owned subsidiary, Grand Investments for Leasing. On February 14, 2011 the company announced that its assets were not affected by the recent political events, however its brokerage business activities were stopped. The company will resume its brokerage activities once The Egyptian Exchange reopens. On March 24, 2011 the company announced that none of its shareholders' assets, or any of its assets were frozen as a result of the authorities' decisions.
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COMPANY RANKINGS
Company Name 1 2 3 4 5
Al Imtiaz Investment Company Al Meera Consumer Goods Company Global United Insurance Company Syria International Islamic Bank Syrian National Insurance Company
Operating Profit Margin

0.347 0.288 0.191 0.176 0.124
According to the results, four of the top five companies are part of the Financial Services sector and one is part of the Retail sector. On the other hand, the companies are divided amongst the Kuwaiti, Syrian, Qatari and Palestinian Markets.
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Appendix 1: Annual Operating Income and Revenues

p 2009
Al-Takaful Palestinian Insurance Company Global United Insurance Company GlobalCom Telecommunications Wataniya Palestine Mobile Telecommunications Company Ubour Logistic Services Arab Weavers Union Company Ammoun International Multilateral Investment Alisraa Investment and Islamic Finance Company Jordan Masaken for Land & Industrial Development Projects Sura for Development and Investment Alentkaeya for Investment and Real Estate Development Al-Safweh for Financial Investments Company Green Crescent Insurance Company Insurance House Grand Investment Capital Gulf General Cooperative Insurance Company Buruj Cooperative Insurance Company Amana Cooperative Insurance Company Al Imtiaz Investment Company Al Aqeelah Takaful Insurance Company Bank Al-Sharq Bank Of Jordan-Syria Byblos Bank Syria Fransabank Syria Qatar National Bank Syria Syria Gulf Bank Syria International Islamic Bank Syrian National Insurance Company United Insurance Company- Syria Weqaya Takaful Insurance and Reinsurance Company National Petrochemical Company - Saudi Arabia Solidarity Saudi Takaful Company Knowledge Economic City Company Etihad Atheeb Telecommunication Company Al Rajhi Company for Cooperative Insurance Al Alamiya for Cooperative Insurance Company Al Meera Consumer Goods Company
Operating Income ('000 Local Currency)
Revenue ('000 Local Currency)

2009 1373 45 2075 0 8777 749 1524 170.52632 0 59 720 113626 24069 72549 60417 25169 238526 1778375 282639 -63978 693280 2214858 1230584 1211393 2206.2857 38397.667 87.428571 863550 2010 1059 6618 211 38313 0 9280 -934 -599 0 0 35 245 190257 17234 534 608 0 110255 148767 270538 839743 2105146 985033 389146 718674 3358838 1456792 1263400 3014.5263 2140.5 0 186567 67625.684 2087.0769 914795 2011 3284 17280 312 70644 184 8566 -688 0 0 26 196 403326 2352 9828 3528 1682 1208.3077 59730 60716 523898 1090188 2498690 1240092 695020 1079146 4034526 1344592 1236748 1554 4772.5714 94060.364 241076 186714 628 923058
Operating Profit Margin

2009 0.22 -20.82 -11.63 0.07 0.18 -1.77 -1.19 0.47 1.00 -0.15 0.48 0.21 0.41 -5.42 -0.81 0.15 -0.60 5.54 0.03 0.19 -0.04 0.18 -8.57 -9.14 -563.51 0.036 2010 0.99 0.37 -6.17 -6.17 6 -1.21 0.04 1.31 5.24 -1.63 -2.16 -0.03 -0.27 -75.26 -84.26 0.55 1.09 -0.58 0.03 0.15 0.00 -0.42 -0.35 0.29 0.16 0.24 -6.71 -26.45 -2.88 -0.50 -11.09 0.057 2011 0.23 0.38 -4.01 -0.30 -1.99 0.04 1.42 -4.46 0.10 -0.06 -2.60 -0.27 -24.34 -8.68 -43.19 0.71 -1.01 -0.36 0.01 0.11 0.04 -0.25 0.11 0.29 0.09 0.17 -22.85 -8.45 0.24 -1.48 -0.20 -1.20 0.049
2010 1049 2421 2421 4 -1301 -46320 -276 366 -1225 -3137 -200 -78 -57 -529 -4832 -4593 -40189 -51232 60966 161862 -157442 22024 323008 2928 -164863 -251562 982137 232834 306211 -12273 -56613 -40303.2 -537773 -23146.154 51890
2011 760 6620 -1252 -21276 -366 328 -974 -274 -96 -116 20 -23546 -6112 -2628 -85858 -14594 42528 -61418 -187514 7696 276708 52028 -171332 119482 1152332 119216 212968 -35514 -21982 -40343.143 22845.818 -357448 -37470 -752 45618
308 -937 -937 9 -24129 0 632 137 -2691 -203 -290 28 720 -17310 11500 15578 24531 -136311 -193728 263978 -169703 -354136 18721 410115 -45479 223541 -23771 -350951.08 31492
-82851.429 -52190.765
-18910.286 -20240.211
-49266.857 -34106.526
N.B. All figures in blue are annualized.
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Appendix 2: Company Rankings

Company Name
Total Change in Price (10%) Value Traded / Market Capital (40%) Operating Profit Margin (50%)
Ammoun International Multilateral Investment (*) Al Imtiaz Investment Company Al Meera Consumer Goods Company Global United Insurance Company Syria International Islamic Bank Syrian National Insurance Company United Insurance Company - Syria Al-Takaful Palestinian Insurance Company Knowledge Economic City Company National Petrochemical Company - Saudi Arabia Arab Weavers Union Company Al-Safweh for Financial Investments Company Jordan Masaken for Land and Industrial Development Projects Fransabank Syria Syria Gulf Bank Byblos Bank Syria Alisraa Investment and Islamic Finance Company Sura for Development and Investment Bank of Jordan - Syria Green Crescent Insurance Company Grand Investment Capital Qatar National Bank - Syria Al Rajhi Company for Cooperative Insurance Wataniya Palestine Mobile Telecommunications Company Bank Al-Sharq Al Aqeelah Takaful Insurance Company Al Alamiya for Cooperative Insurance Company Etihad Atheeb Telecommunication Company Ubour Logistic Services Insurance House GlobalCom Telecommunications Alentkaeya for Investment and Real Estate Development Solidarity Saudi Takaful Company Buruj Cooperative Insurance Company Weqaya Takaful Insurance and Reinsurance Company Gulf General Cooperative Insurance Company Amana Cooperative Insurance Company
0.673 0.347 0.288 0.191 0.176 0.124 0.114 0.111 0.100 0.070 0.046 0.043 0.022 0.022 0.022 0.017 -0.034 -0.052 -0.055 -0.082 -0.091 -0.098 -0.147 -0.165 -0.166 -0.535 -0.626 -0.721 -1.059 -1.325 -2.064 -2.134 -4.161 -4.351 -11.452 -12.146 -21.392
-0.360 -0.086 2.633 -0.008 0.306 0.800 0.283 -0.045 -0.214 0.697 0.265 -0.159 0.190 0.008 -0.340 -0.384 -0.341 -0.524 -0.588 -0.530 0.407 0.249 -0.477 -0.146 0.126 -0.296 -0.301 -0.500 -0.669 -0.261 -0.584 0.552 0.615 -0.165 -0.416 0.170 1.974
0.003 0.000 0.001 0.000 0.006 0.000 0.000 0.000 0.001 0.002 0.000 0.019 0.007 0.000 0.000 0.000 0.000 0.001 0.000 0.002 0.004 0.001 0.002 0.000 0.000 0.000 0.006 0.176 0.005 0.001 0.001 0.103 0.009 0.009 0.040 0.013 0.013
1.416 0.712 0.049 0.383 0.286 0.089 0.172 0.231 0.243 0.000 0.038 0.102 0.000 0.042 0.111 0.111 0.000 0.000 0.007 -0.058 -0.267 -0.246 -0.201 -0.301 -0.358 -1.012 -1.197 -1.483 -1.989 -2.599 -4.013 -4.462 -8.453 -8.677 -22.853 -24.336 -43.190
A Ammoun International Multilateral Investment will not be considered one of the top five performing companies since both operating income and revenues are negative.
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MENA&#39;s Most Valuable Newly Listed Co

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MENA&#39;s Most Valuable Newly Listed Co

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Newly listed companies

MENA's Most Valuable:

COMPANY OVERVIEW & PERFORMANCE

Al Imtiaz Investment Company

United Insurance Company

Syrian National Insurance Company

Syria International Islamic Bank

Syria Gulf Bank

Qatar National Bank Syria

Byblos Bank Syria

Bank of Jordan Syria

Al Aqeelah Takaful Insurance Company

Weqaya Takaful Insurance and Reinsurance Company

National Petrochemical Company - Saudi Arabia

Solidarity Saudi Takaful Company

Knowledge Economic City Company

Etihad Atheeb Telecommunication Company

Al Rajhi Company for Cooperative Insurance

Al Alamiya for Cooperative Insurance Company

Buruj Cooperative Insurance Company

Gulf General Cooperative Insurance Company

Amana Cooperative Insurance Company

Arab Weavers Union Company

Ubour Logistic Services

Ammoun International Multilateral Investment

Alisraa Investment and Islamic Finance Company

Jordan Masaken for Land and Industrial Development Projects

Sura for Development and Investment

Alentkaeya for Investment and Real Estate Development

Al-Safweh for Financial Investments Company

Al Meera Consumer Goods Company

Green Crescent Insurance Company

Al-Takaful Palestinian Insurance Company

Global United Insurance Company

Wataniya Palestine Mobile Telecommunications Company

Grand Investment Capital

Operating Profit Margin

Appendix 1: Annual Operating Income and Revenues

Operating Income ('000 Local Currency)

Revenue ('000 Local Currency)

Operating Profit Margin

N.B. All figures in blue are annualized.

Appendix 2: Company Rankings

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MENA's Most Valuable Newly Listed Co

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