الرئيس المالي التنفيذي لشركة تبريد الإماراتية لـ CNBC عربية: لا يوجد أي تعاقدات حتى الآن فيما يخص مشروع رأس الحكمة بمصر

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00:00 The company's results are continuously growing, thank God.

00:04 And of course, it's true that the first quarter of last year,

00:09 the company recorded unrecorded profits as a result of entering the general investment fund in Saudi Arabia

00:15 in the 30% share, and it had an unrecorded profit.

00:18 And also, one of the loans that was here in one of the assets,

00:24 we closed it before its due date, and it had the same unrecorded profit,

00:28 which is one of gain, for the mark to market that was recorded.

00:33 In addition, if we remove these unrecorded profits,

00:41 we have a quarter to quarter, before the tax calculation,

00:45 the new income that was applied for the first time for the company,

00:49 there is a growth of 4%.

00:52 Of course, in terms of wills and start-ups,

00:58 thank God, we have a growth,

01:02 there is a CPI, consumer prices indicator,

01:06 and we had a consolidation, the integration of financial institutions,

01:11 in the company, of course, the cooling, Dubai Pulse,

01:15 they entered with us, Dubai Holding, Dubai Al-Qabida,

01:18 a company with 50%.

01:19 So, when we removed the deconsolidation,

01:25 there is an increase of 7%.

01:30 So, the performance, which is the real performance of the company,

01:34 thank God, it is a good growth from quarter to quarter.

01:37 As I mentioned, there is a 9% effect on everyone,

01:41 which is 9% on companies, but the wills are still excellent.

01:46 Mr. Adel, we have a remark in the financial columns,

01:52 there was also a difference in the currency exchange rate,

01:55 which had an effect on the company's business results.

01:58 Nawad, if you tell us about the trading processes

02:01 for foreign currencies, and their effect, especially in the Egyptian markets.

02:07 Yes, of course, we are transparent,

02:11 as a leading company, we put all the numbers available,

02:14 but it did not affect the performance of the company.

02:17 We have a single station in Egypt,

02:20 with the Qatamiya Mall, with the Marrakesh company,

02:23 under the Saudi Hukair Fawaz Group.

02:26 And it has a very limited effect,

02:29 it did not affect the company's results, not even 1%,

02:32 but of course there are details in it.

02:34 On the contrary, the pressure of the currency difference,

02:37 we talked with our client, of course,

02:40 as a result of the changes that occurred in the market for the currency,

02:44 and our relationship is very excellent,

02:46 and the client started cooperating so that there is a change,

02:49 and it has an effect of modification to the knowledge that he agreed on at the beginning,

02:53 which is equivalent to the inflation that happened.

02:56 In India, of course, there are no differences,

02:59 there is a fixed currency issue,

03:01 there are no risk differences or limitations.

03:04 But, thank God, the performance, as I mentioned, from quarter to quarter,

03:07 is excellent, which is the sustainable business performance.

03:12 The interest rate is excellent, on the contrary,

03:15 the interest rate increased from 57% to 58%,

03:18 this is very healthy, excellent,

03:20 the interest rate also, if we remove the things that I mentioned,

03:23 the non-repeated, increased from 25% to 26%,

03:26 the interest rate has become zero.

03:29 And thank God, we continue,

03:31 we hope that next year it will be good.

03:33 We have seen it in your operations in the Egyptian market,

03:38 and your participation in the "Rais Al-Hikmah" project today.

03:42 Regarding this project, how will your contribution be,

03:45 and when can we start with some numbers,

03:48 and also start working on this project?

03:51 To correct the information,

03:54 we asked in advance if we are interested in the "Rais Al-Hikmah" project,

03:59 we said that every activity related to urban planning,

04:06 will be expected to be achieved,

04:08 but so far nothing has happened in this regard,

04:11 no contracts have been made with the government.

04:13 So, so far there are no official contracts on this matter?

04:17 No, no, just to clarify.

04:19 Regarding your work today in Egypt,

04:21 and your projects and expansion during this period,

04:24 what are your goals?

04:26 The Egyptian market is excellent,

04:29 and very promising,

04:31 as they say, the pipeline is full of our business team,

04:38 and business development,

04:40 we are busy there,

04:42 but the issue is the currency and its circulation,

04:46 where it will be proven, God willing,

04:48 with the incidents that happened in the past months,

04:51 announced by the government,

04:53 there has been a slight improvement,

04:55 and all investors in all sectors are waiting for it to stabilize to a certain level,

05:01 in a certain range.

05:03 How much did your investments today,

05:06 if we are talking about your intentions in the Egyptian market?

05:09 No, the current level is 10 million dollars,

05:17 but if the currency exchange and currency circulation has been established to some extent,

05:24 I think the market is very promising there.

05:26 Yes, regarding your work today,

05:28 and your expansion,

05:30 you have already talked about expansion in the Asian markets today,

05:33 these funds are also from new markets that you are targeting in 2024,

05:38 and how is your expansion funding going to be?

05:42 Yes, we really started in Asian regions,

05:48 and we made a partnership three years ago with the International Funding Institute,

05:54 under the International Bank,

05:56 and we have a 75% share in Singapore,

06:02 and we started with the Indian market,

06:06 we opened a library,

06:08 and we have the first plant,

06:10 and God willing, there will be expansions on the same plant project,

06:12 and there are other projects that are being studied.

06:15 There are new markets,

06:18 we mentioned the Indonesian market,

06:20 which is a promising market,

06:23 but it is still in the process of exploring opportunities in Thailand and Vietnam,

06:27 this is the initial stage,

06:30 we have here in the region,

06:32 we have Kuwait and Jordan,

06:34 we are trying to see if there are opportunities there,

06:36 and we are very ambitious and we are looking forward to it.

06:41 The funding, most of the markets I mentioned,

06:45 is the funding for the project,

06:49 it has a minority share,

06:52 which is the contribution,

06:54 to be included as equity,

06:56 as a property right,

06:58 and the rest is funding.

07:00 The company has a very strong financial position,

07:04 we closed a quarter in one,

07:06 we closed a quarter in 1.6 billion Dinars,

07:12 a company with an estimated value of 800,

07:15 which is the investment grade,

07:17 or the investment margin from Fitch and Moody's,

07:20 so thank God, our relationship with all financial institutions is very strong.

07:23 How much is the estimated capital flow available to the company,

07:25 and as for the funding costs,

07:27 how much was the impact,

07:29 and how much was the cost during this period,

07:31 for the first quarter?

07:33 We closed the first quarter in 1.6 billion Dinars,

07:37 as a financial capital flow,

07:39 which is very strong,

07:41 and as for the cost of financing the previous loans,

07:45 thank God, it did not affect us even 1%,

07:49 because we were doing a conversion on it,

07:51 100% conversion,

07:53 and this was the result of a competitive view,

07:56 how we try to deal with any future risks,

07:59 in a competitive way, as I mentioned.

08:04 As I mentioned, the flow is very strong,

08:07 any financial projects that will be in the future,

08:10 of course, will be taken into account,

08:12 at the current price.

08:13 How much is the flow, Mr. Adel?

08:15 The flow is 1.6 billion Dinars,

08:18 currently,

08:19 31/3.

08:20 Yes,

08:21 is there any intention to issue bonds or bonds,

08:23 in the later period, for the company?

08:26 We have, of course,

08:29 a bond issued in 2018,

08:31 500 million dollars,

08:33 its maturity ends in October 2025,

08:37 next year.

08:38 We have a second loan,

08:40 which we financed,

08:41 in order to acquire cooling stations,

08:43 in the central area of Dubai,

08:45 which is Downtown,

08:46 which is a little less than 700 million dollars,

08:50 also,

08:51 at the end of the first quarter of 2025,

08:54 we will finance the second loan,

08:57 next year, God willing.

08:59 God willing,

09:00 all options are available,

09:02 it is still too early to talk about them,

09:05 but, God willing,

09:06 if there is an issue of bonds or bonds,

09:09 the intention will be,

09:11 green bonds or green bonds,

09:13 God willing.

09:14 How much will be the amount you are aiming for,

09:16 if you issue this type of green bonds or bonds?

09:20 It is too early to talk about it,

09:23 but the amount will be exactly the same,

09:26 it will be a refund,

09:27 or it may be divided into stages,

09:30 between bonds and bonds,

09:32 or even other loans.

09:34 God willing,

09:35 we will start studying the opportunities

09:37 that will be available to us,

09:39 and we will take the appropriate decision.

09:41 Mr. Adel,

09:42 we were talking today about your work in Saudi Arabia,

09:45 especially after we saw an increase in the investment fund,

09:48 which was in the company.

09:50 How much do you estimate your work in the Saudi market,

09:52 and how do you feel about the Saudi market?

09:54 We currently have five plants in Saudi Arabia,

09:59 which provide services for 120,000 to 125,000 tons.

10:07 The Saudi market,

10:08 with its large projects,

10:10 is a very promising market.

10:12 The goal of the partnership with the ICC,

10:16 they saw and were confident that this field

10:19 and this company will have a promising future in the market,

10:22 and also in the sector,

10:24 in the cooling of the regions.

10:26 We expect that from now until 2030,

10:30 we are talking about 4 to 5 million tons of cooling,

10:33 which will be available in the market.

10:36 I think that we are the dominant player,

10:39 the main player and the main company

10:41 that started more than 10 years ago.

10:44 We expect to have at least 50% of the coming plants.

10:50 We wish you all the best, Mr. Adel Alwahidi,

10:53 the executive financial director of the ICC.

10:56 Thank you very much for being with us.

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