business · 2018. 10. 30. · 22 business tuesday 30 october 2018 qfb announces q3 financial...

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BUSINESS Tuesday 30 October 2018 PAGE | 25 PAGE | 24 QFC partners with B-Hive to develop FinTech industry Net profit attributable to Aamal equity holders at QR336.3m Ooredoo Group announces QR23bn in revenue THE PENINSULA DOHA: Ooredoo reported QR22.8bn in revenue for the nine months ended September 2018, driven by strong contributions from Qatar, Kuwait, Oman, Iraq and Myanmar, offset by reduc- tions in Indonesia and Algeria. Group Revenue before the Foreign Exchange impact decreased by 5 percent, reported Revenue decreased by 7 percent year-on-year. Ooredoo’s results were sig- nificantly negatively impacted by the overall FX weakness in Emerging Markets as well as the market situation in Indonesia following the new SIM card reg- istration regulation. Group EBITDA stood at QR9.3bn with a corresponding EBITDA margin of 41 percent. Group EBITDA decreased by 11 percent year-on-year mainly due to lower revenue, pre FX EBITDA decreased by 9 percent. Group net profit attributable to Ooredoo shareholders stood at QR1.1bn. The positive perform- ances in Iraq, Oman and Tunisia were offset by market challenges and lower revenue in Indonesia and Algeria as well as a sub- stantial FX loss in Myanmar. Increased monetisation of data business, with significant data growth coming from con- sumer and enterprise cus- tomers: saw data revenue increasing to 46 percent of Group revenue. Revenue from data contributed QR10.5bn during the none-month period ended September 2018. Ooredoo Group continues to be recognised with world-class awards. In Oman, Telecoms World Middle East recog- nised Ooredoo Oman with two dis- tinct awards for the “Best National Network Operator” and “The Best Digital Content.” In Iraq, Asiacell was awarded the CARE Award for excel- lence in customer service. Ooredoo Group successfully tested the first live eSIM on its world-class supernet network in Qatar and in Kuwait. Ooredoo Qatar tested the world’s first self-driving 5G connected aerial taxis. Ooredoo Qatar has more than 80 live 5G sites on the 3.5GHz spectrum band in the country. Ooredoo’s network was rec- ognised by Ookla, the global leader in internet testing and analysis, as Qatar’s fastest mobile network while in Algeria, Oman and Myanmar, Ookla confirmed Ooredoo’s data network lead- ership for its 3G and 4G net- works. In Qatar, 99 percent of Ooredoo’s consumer customers migrated to e-bills, in line with Ooredoo’s digital drive initiative to support Qatar’s vision to Go Green. → CONTINUED ON PAGE 24 H E Sheikh Abdulla bin Mohammed bin Saud Al Thani (leſt), Chairman of Ooredoo Group; and Sheikh Saud bin Nasser Al Thani, Group CEO of Ooredoo.

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Page 1: BUSINESS · 2018. 10. 30. · 22 BUSINESS TUESDAY 30 OCTOBER 2018 QFB announces Q3 financial results THE PENINSULA DOHA: Qatar First Bank, a leading Shari’ah compliant bank based

BUSINESSTuesday 30 October 2018

PAGE | 25PAGE | 24QFC partners with B-Hive to develop FinTech industry

Net profit attributable to Aamal equity holders at QR336.3m

Ooredoo Group announces QR23bn in revenue THE PENINSULA

DOHA: Ooredoo reported QR22.8bn in revenue for the nine months ended September 2018, driven by strong contributions from Qatar, Kuwait, Oman, Iraq and Myanmar, offset by reduc-tions in Indonesia and Algeria. Group Revenue before the Foreign Exchange impact decreased by 5 percent, reported Revenue decreased by 7 percent year-on-year.

Ooredoo’s results were sig-nificantly negatively impacted by the overall FX weakness in Emerging Markets as well as the market situation in Indonesia following the new SIM card reg-istration regulation.

Group EBITDA stood at QR9.3bn with a corresponding EBITDA margin of 41 percent. Group EBITDA decreased by 11 percent year-on-year mainly due to lower revenue, pre FX EBITDA decreased by 9 percent.

Group net profit attributable to Ooredoo shareholders stood at QR1.1bn. The positive perform-ances in Iraq, Oman and Tunisia were offset by market challenges and lower revenue in Indonesia and Algeria as well as a sub-stantial FX loss in Myanmar.

Increased monetisation of data business, with significant data growth coming from con-sumer and enterprise cus-tomers: saw data revenue increasing to 46 percent of

Group revenue. Revenue from data contributed QR10.5bn during the none-month period

ended September 2018.Ooredoo Group continues to

be recognised with world-class

awards. In Oman, Telecoms World Middle East recog-nised Ooredoo Oman with two dis-tinct awards for the “Best National Network Operator” and “The Best Digital Content.” In Iraq, Asiacell was awarded the CARE Award for excel-lence in customer service.

Ooredoo Group successfully tested the first live eSIM on

its world-class supernet network in Qatar and in Kuwait. Ooredoo Qatar tested the world’s first

self-driving 5G connected aerial taxis. Ooredoo Qatar has more than 80 live 5G sites on the 3.5GHz spectrum band in the country.

Ooredoo’s network was rec-ognised by Ookla, the global leader in internet testing and analysis, as Qatar’s fastest mobile network while in Algeria, Oman and Myanmar, Ookla confirmed Ooredoo’s data network lead-ership for its 3G and 4G net-works. In Qatar, 99 percent of Ooredoo’s consumer customers migrated to e-bills, in line with Ooredoo’s digital drive initiative to support Qatar’s vision to Go Green.

→ CONTINUED ON PAGE 24

H E Sheikh Abdulla bin Mohammed bin Saud Al Thani (left), Chairman of Ooredoo Group; and Sheikh Saud bin Nasser Al Thani, Group CEO of Ooredoo.

Page 2: BUSINESS · 2018. 10. 30. · 22 BUSINESS TUESDAY 30 OCTOBER 2018 QFB announces Q3 financial results THE PENINSULA DOHA: Qatar First Bank, a leading Shari’ah compliant bank based

22 TUESDAY 30 OCTOBER 2018BUSINESS

QFB announces Q3 financial resultsTHE PENINSULA

DOHA: Qatar First Bank, a leading Shari’ah compliant bank based in Qatar and listed on the Qatar Stock Exchange (QSE), has released its financial results for the nine-month period ended 30th September 2018 recording a net loss of QR425.5m.

Ayman Zaidan, Head of Treasury and Investment Man-agement, said: “After a challenging nine months with global and regional headwinds, QFB recorded a net loss of QR425.5 million where prevailing market uncertainties are

among the major concerns for the reduction in banks revenue.

QFB’s ambitious cost rational-isation plan initiated in first half of 2016 continue to generate positive results by reducing staff cost, other operating expenses and finance cost by 29.8 percent, 12.5 percent and 9.6 percent, respectively compared to nine-month period in 2017.”

Other income increased mainly due to fair value of shari’ah complaint risk management instruments and fee income from the structured products. The bank is continuing its programme of creating liquidity from private equity portfolio while working with partners on new opportunities in developed markets that will be seeded and managed

by QFB, he said.Ayman added significant

progress has been made with the bank’s new strategy evidenced by the exit of its investment in Memorial. Furthermore, the bank is in the discussion process to realise additional exits from investments in English Home and Kuwait Energy following the execution of definitive agreements.

On the other hand, the bank’s Treasury and Investment man-agement arm is keen on increasing the bank’s assets under management by multiple

Massoun, Commercial Bank host interactive sessionTHE PENINSULA

DOHA: Massoun Insurance Services LLC. – a Joint Venture between Qatar Insurance Company (QIC) and its bancas-surance partner Commercial Bank — recently hosted an interactive workshop with the Bank’s Wholesale Banking team. The session shed light on the achievements of Massoun over the years and detailed its future plans with Commercial Bank to further enhance its suite of insurance products and improve the client experience for its corporate customers. Held at the Commercial

Bank Plaza building, the workshop served as an excellent platform for exchanging views and enhancing teamwork.

Addressing the audience, Ruba Hasan, General Manager of Massoun, said: “We are extremely delighted to organize this interactive session with our partner Com-mercial Bank. Not only does it encourage the spirit of col-laboration, but it also aims at creating a ‘One Team’ approach to enhance produc-tivity in the workplace.”

Raju Buddhiraju, Executive General Manager, Head of Wholesale Banking at Com-mercial Bank, said: “On behalf of Commercial Bank I’d like to thank Massoun for hosting this interactive workshop with our team. Massoun is a valued strategic partner whose insurance products are tai-lored to our customers.

This enhances our com-prehensive solutions suite for all our customer segments. We look forward to adding more innovative insurance products and to continue to provide an excellent client experience

with the combined efforts of CB and Massoun teams.”

Founded in the year 2010, Massoun is a joint venture between QIC and Commercial Bank. Registered with the Ministry of Economy & Com-merce. Massoun is Qatar’s first bancassurance set up. With a team of highly expe-rienced and dynamic insurance professionals, Massoun serves as a one-stop-shop offering a full suite of Retail & Corporate Cus-tomized Insurance Solutions for Commercial Bank & Non-Commercial Bank clients.

Officials and the participants during the event.

QFB continues to remain prudent on the global

investment market conditions and remain focused

on its core capabilities & expertise in private

equity, real estate and private banking fronts.

The session shed light

on the achievements of

Massoun over the years

and detailed its future

plans with Commercial

Bank to further enhance

its suite of insurance

products and improve

the client experience for

its corporate customers.

deal-by-deal transactions through direct sourcing and structuring while ensuring prudent liquidity management measures. QFB continues to remain prudent on the global investment market conditions

and remain focused on its core capabilities & expertise in private equity, real estate and private banking fronts which leads to create more profitable business opportunities to fuel bank’s growth, he said.

10,191.68

+47.31 PTS

0.47%

QSE FTSE100 DOW BRENT7,026.32

+86.76 PTS

1.25%

24,274.14

−414.17PTS

1.68% Dow & Brent before going to press

$66.64

-0.75

MarketWatch

Page 3: BUSINESS · 2018. 10. 30. · 22 BUSINESS TUESDAY 30 OCTOBER 2018 QFB announces Q3 financial results THE PENINSULA DOHA: Qatar First Bank, a leading Shari’ah compliant bank based

23TUESDAY 30 OCTOBER 2018 BUSINESS

Page 4: BUSINESS · 2018. 10. 30. · 22 BUSINESS TUESDAY 30 OCTOBER 2018 QFB announces Q3 financial results THE PENINSULA DOHA: Qatar First Bank, a leading Shari’ah compliant bank based

The agreement

will also see the

QFC and B-Hive

contribute to the

growth of FinTech-

related communities

by engaging with

start-up support

institutions as well as

financial institutions

and regulators.

24 TUESDAY 30 OCTOBER 2018BUSINESS

Warren Buffett takes on Adelson in billionaire feud over Vegas lightsBLOOMBERG

NEW YORK: In a battle of billion-aires, Sheldon Adelson and Warren Buffett are squaring off over who controls the power that keeps the bright lights blazing in Las Vegas and across Nevada.

Adelson, the Republican mega-donor and founder of the Las Vegas Sands Corp., is backing an initiative on the November 6 ballot that lets customers choose their own power provider by 2023. At risk is NV Energy Inc., a utility owned by Buffett’s Berk-shire Hathaway Inc. that now holds a virtual monopoly in the state. The total cost of the fight so far: Almost $100m.

The initiative gained 72 percent of the vote in 2016, but needs to win a second consec-utive ballot to become law. A Sep-tember poll showed the initiative trailing by 19 percentage points, but with 16.4 percent of residents undecided. At the same time, the renewables industry has been largely uncommitted, citing a lack of detail on how it may play out.

“At the highest level, you have a couple billionaires slugging it out,” said David Damore, a pro-fessor of political science at the

University of Nevada, Las Vegas. “It’s a very complicated issue, one that probably shouldn’t be handled at the ballot box, given how much uncertainty there is around it.”

The proposition, which seeks to amend wording in the state constitution, has prompted one of the most heavily financed political battles in the current US election cycle.

The amount raised for it exceeds the $91.6m spent in the state’s high profile US Senate race, and the $40m battle over energy use in Arizona, Nevada’s southern neighbor.

Meanwhile, it’s not the only energy initiative being fought out

in Nevada. Another billionaire, Tom Steyer, a Democratic mega-donor, is supporting a push to require half of the state’s elec-tricity to come from renewables by 2030, mirroring his similar effort in Arizona. Steyer said in an interview he’s not involved in the energy choice initiative.

The battles in both states come as the US power industry is grappling with a historic transformation.

Cheap solar and wind power, along with better battery storage, are emboldening homeowners and businesses to go it alone, loos-ening the grip of utilities that once owned and distributed all of the electricity in their regions.

Warren Buffett (left) and Sheldon Adelson.

QFC partners with B-Hive to develop FinTech industryTHE PENINSULA

DOHA: The Qatar Financial Centre (QFC) has partnered with B-Hive to develop the financial technology industry (FinTech) in Qatar.

A memorandum of under-standing (MoU) was signed by Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC and Wim De Waele, CEO and Managing Partner, B-Hive. The ceremony was also attended by Dr Bart De Groof, Ambassador for Belgium to Qatar. The MoU highlights the QFC’s commitment to the national FinTech agenda set by the Qatar Development bank, which aims to attract international FinTech ecosystems to Qatar.

B-Hive is a European collab-orative innovation FinTech platform based in Belgium that brings together major banks, insurers and market infra-structure players to leverage the opportunities offered by digital transformation for the financial services industry.

The fifth highest number of FinTech deals in Europe in 2017 took place in Belgium, which is a clear indicator of its significance to the global FinTech industry. The continued growth of the industry

in Belgium is sizable, with Belgian FinTech firms raising over $230m in almost 60 deals in 2016 alone.

The global rise of the FinTech industry is also undeniable, which saw $41.7bn raised in the first half of 2018, surpassing last year’s record total.

The regional industry is booming as well, with the number of FinTech startups in the Middle East more than doubling from 46 to 105, between 2013 and 2015, according to the State of FinTech 2017 report. The number of startups in the industry is also expected to increase to 250 by

2020, demonstrating the growth potential of FinTech in the Middle East, as well as opportunities towards increasing financial inclusion.

This partnership will facilitate cooperation on several aspects based on the promotion of business opportunities and knowledge sharing. The two

entities will also work closely to discuss the latest trends in these disruptive technologies, legis-lation and other data, as well as the organisation of global activ-ities to further promote the industry in both countries.

The agreement will also see the QFC and B-Hive contribute to the growth of FinTech-related

communities by engaging with start-up support institutions as well as financial institutions and regulators.

Furthermore, potential joint projects focusing on developing disruptive financial technologies will be explored, as well as the development of training and t a l e n t m a n a g e m e n t

programmes.Yousuf Mohamed Al Jaida,

Chief Executive Officer, QFC Authority said: “Global FinTech funding toped $31bn for 2017, according to KPMG, which brings the total global investment in the FinTech sector over the past three years to $122bn. These figures cer-tainly demonstrate the growing importance of FinTech as well as the diversity of investment oppor-tunities in the industry.”

Al Jaida added: “Our MoU with B-Hive is a reflection of our com-mitment to financial innovation in the financial sector and will undoubtedly contribute to devel-oping the growing FinTech industry in Qatar, while leveraging the sizable investment opportu-nities available in this sector.”

Wim De Waele, Chief Exec-utive Officer and Managing Partner, B-Hive said: “B-Hive from the outset was designed to build bridges between the dif-ferent innovative regions with a strong financial or technology sector. We are very pleased we can now extend that network to Qatar and look forward to the exchange of knowledge and jointly creating fintech business between the partners in the network.”

Yousuf Mohamed Al Jaida (centre), Chief Executive Officer of QFC; Wim De Waele (right), CEO and Managing Partner of B-Hive; and Dr Bart De Groof, Ambassador for Belgium to Qatar, during the signing ceremony.

→ CONTINUED FROM PAGE 21

Following the launch of oper-ations in Gaza and the 3G launch in West Bank, Wataniya Pales-tine’s customer base increased significantly by 57 percent to more than 1.3 million customers.

Ooredoo continues to be a data leader in its markets during the period with 4G networks now available in 8 of Ooredoo’s 10 markets.

Commenting on the results, H E Sheikh Abdulla bin Mohammed bin Saud Al Thani, Chairman of Ooredoo, said: “Ooredoo Group maintains its global leadership in telecom inno-vation, being the first telecom operator to test the world’s first self-driving 5G connected aerial taxis, in line with our mission to support Qatar’s digital transfor-mation vision. 5G technology is now a reality in Qatar, where we have 80+ live 5G sites and counting.

We continue to enrich peo-ple’s digital lives in our countries of operation and I am pleased to say that during the period our outstanding efforts were recog-nised with world-class awards. Our network has been voted Qatar’s fastest mobile network in 2018 by Ookla. In Oman, we were awarded the “Best National Network Operator” and the “Best Digital Content Creator” by Tel-ecoms World Middle East, while in Iraq we were awarded the CARE Award for Excellence in Customer Service.” Digital ena-blement is the future and Ooredoo remains committed to making the right investments to deliver new technologies to our customers, unlocking more of their potential

and helping them prosper in a digital world. 46 percent of rev-enues are now generated from our data and digital business, he said.

“Revenue generated from the traditional telecom services remains under pressure, in line with regional and global trends for our industry, and our financial results for the period reflect these challenges. However, I am pleased to report good growth in profitability across a number of our key markets”, Sheikh Abdulla added.

Sheikh Saud bin Nasser Al Thani, Group Chief Executive Officer of Ooredoo, said: “Group Revenue was QR23bn, sup-ported by strong contributions from our key markets in Qatar, Kuwait, Oman, Iraq and Myanmar.

We continue to see chal-lenging market conditions in Indonesia and Algeria and the overall structural changes in our industry, including the pressure on voice revenue, have impacted our financial results for the 9M 2018 period. Fur-thermore, a general weakness of currencies in Emerging Markets impacted our results negatively.

Despite those challenges, Ooredoo Group delivered a net profit of QR1.1bn and a solid EBITDA margin of 41 percent, supported by digital growth and cost optimisation.

In Qatar, we made significant progress in advancing our digital transformation agenda which pos-itively impacted our results. We

delivered growth across the board in Oman, with improvements in Revenue and EBITDA and a strong EBITDA margin of 53 percent.” Sheikh Saud said Ooredoo Kuwait increased revenue by 14 percent, driven by customer additions and an increase in handset sales. In Tunisia Ooredoo increased the cus-tomer base by 5 percent and the continued focus on cost optimi-zation helped to improve EBITDA for the nine-month period.

Ooredoo Algeria maintained its mobile data leadership, with a solid growth in 4G data users during the third quarter driving record data usage. In Iraq Ooredoo is benefitting from the stabilisation of market condi-tions and reported a 3 percent increase in revenue and 8 percent increase in EBITDA for the nine-month period.

“Sequential top-line growth is returning in Indonesia, with improvements in quarterly revenue and EBITDA. We are beginning to see the impact of the SIM registration regulation subdue and a positive shift in market dynamics. Myanmar reported another strong set of results, with 10% top-line growth for the nine months ended 30 September 2018, com-pared to the same period last year,” Sheikh Saud added.

Ooredoo Qatar built its market leadership during the nine-month period, with par-ticularly strong progress in the 5G space. Revenue stood at QR5.8bn (9M 2017: QR5.9bn). EBITDA stood at QR3.0bn, an increase of 1 percent due to an improved revenue mix and cost efficiencies. Customer numbers stood at 3.3 million (9M 2017: 3.5 million).

Ooredoo Group announces QR23bn in revenue

QIB participates in Qamco IPOTHE PENINSULA

DOHA: Qatar Islamic Bank (QIB) has announced its participation in the Initial Public Offering (IPO) of Qatar Aluminum Manufacturing Company (Qamco) from October 30 till November 12. QIB Qatari customers will be able to subscribe through 12 main branches across Qatar with extended working hours to make it easier to subscribe. QIB is committed to supporting national initiatives undertaken by the government that increase investment awareness and wealth creation. This kind of initiative showcase the healthy economy that Qatar enjoys, which aims at providing opportunities to the entire Qatari community including the next generation.

There will be 12 branches that will be available for customers’ convenience from Sunday through Thursday from 7.30am till 1 pm and will re-open 5pm till 7.30pm; Saturdays from 9am till 12noon. The branches are: Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cul-tural Center (Fanar), Gharafa

(Q-mall), Salwa Road, Al Sadd & Private Banking Center, Al Rayan, Al Khor, Umm Salal, Airport Road, Al Wakra, Muaither, and C-Ring. Dukhan Branch will be available from Sunday to Thursday from 7.30am until 1pm.

Tamayuz customers can also subscribe through their dedicated centers located at: Sheikh Abdulla Bin Zaid Al Mahmoud Islamic Cul-tural Center (Fanar), Gharafa (Q-Mall), Salwa Branch, Al Rayan and Al Khor. Ladies customers can enjoy full privacy while sub-scribing through their dedicated centers located at Salwa Road, Al Sadd, Al Rayan, Umm Slal and Al Khor.

QIB Qatari customers that are interested in a personal sub-scription will need to fill the IPO subscription form and present their valid QID along with a copy.

If the applicant is applying on behalf of a third-party member other than a minor, the applicant should have an original QID for the third-party member and his own QID alongside a copy of both. In addition, a duly notarised power of attorney valid for use in the state

of Qatar evidencing the fact that the person making this application is duly authorised to apply for Offer Shares on behalf of the rel-evant third party alongside a true and valid copy.

QIB customers can also apply for a finance to subscribe if their salaries are transferred to QIB, the customer needs to cover 35 percent of the subscription amount in addition to the fees, whereas QIB will finance 65 percent of the subscription amount. Customers need to fill out the finance application alongside the shares related forms and provide a cheque with the total finance amount alongside addi-tional copies of QIDs of the applicant and the subscribers.

Finance applications will be accepted from October 30 until November 10, 2018. In case the shares are pledged against the finance, it will take up to 10 working days to release the shares after the finance is settled. The Due date for all IPO financing is Feb-ruary 15, 2019. For more details visit: www.qib.com.qa/en-IPO or contact QIB at 44109910.

QNB wins ‘The Best Bank for Treasury and Cash Management in Qatar’ awardTHE PENINSULA

DOHA: QNB, the largest financial institution in the Middle East and Africa, has received the award of ‘ The Best Bank for Treasury & Cash Management in Qatar in 2018’ at the awards ceremony held on the sidelines of the Seventh Annual Global Finance Trans-action Processing Awards Ceremony on the sidelines of the SIBOS Conference in Sydney Australia.

The annual award acknowledges the best pro-viders of cash management and payments industries amongst international financial institutions in the world. Evaluated by an international board of advisors from major financial institutions and technology experts, applicants were subject to a stringent assessment process.

Receiving this prestigious award is testament for QNB to providing the latest and most competitive cash management products on the market, together

with the high quality of service from its cash man-agement department, enabling customers to better manage their cash flows. It also highlights the Bank’s commitment to continue to provide its customers with quality services in line with its vision to become a leading bank in the Middle East, Africa and Southeast Asia (MEASEA) by 2020 and reinforcing its position as a major player in the regional and international banking market while reflecting its successful strategy and robust financial performance.

Global Finance is a magazine specialized in global finance and economics, whose readers has grown to include over 50,000 CEOs and finance industry pro-fessionals in 163 countries, since its establishment in New York in 1987. Every year, the magazine conducts comprehensive surveys and research studies on the growth, innovation, and profitability of financial insti-tutions around the world and announces the best banks in each categories.

Page 5: BUSINESS · 2018. 10. 30. · 22 BUSINESS TUESDAY 30 OCTOBER 2018 QFB announces Q3 financial results THE PENINSULA DOHA: Qatar First Bank, a leading Shari’ah compliant bank based

The group’s earnings

per share rose to

QR0.82 during the

financial period,

compared to QR0.64

from a year ago.

25TUESDAY 30 OCTOBER 2018 BUSINESS

Many US firms in China eyeing relocation as trade war bitesREUTERS

SHENZHEN: More than 70 percent of US firms operating in southern China are considering delaying further investment there and moving some or all of their manufacturing to other coun-tries as the trade war bites into profits, a business survey showed yesterday.

US companies operating in China believe they are suffering more from the trade dispute than firms from other countries, according to the poll by the American Chamber of Commerce in South China, which surveyed 219 com-panies, one-third from the manufac-turing sector.

Sixty-four percent of the companies said they were considering relocating production lines to outside of China, but only 1 percent said they had any plans to establish manufacturing bases in North America.

“While more than 70 pct of the US companies are considering delaying or cancelling investment in China, and relocation of some or all manufacturing out of China, only half of their Chinese counterparts share the same consider-ation,” the AmCham report said.

The trade war is shifting both supply chains and industrial clusters, mostly towards Southeast Asia, the survey found.

US companies reported facing increased competition from rivals in Vietnam, Germany and Japan, while Chinese companies said they were facing growing competition from Vietnam, India, the United States and South Korea.

Customers are slowing down orders or not placing them at all, Harley Seyedin, president of AmCham South China, told Reuters.

“It could very well be that people are holding back on placing orders until times are more certain or it could very

well be that they are shifting to other competitors who are willing to offer cheaper products, even sometimes at a loss, in order to get market share,” he said.

“One of the most difficult things about market share is once you lose it, it is very hard to get back.”

Companies in the wholesale and retail sectors have suffered the most f r o m U S t a r i f f s , w h i l e

agriculture-related businesses have been most hit by Chinese measures, the survey found.

The survey was conducted between September 21 and October 10, shortly after the US imposed tariffs on another $200bn worth of Chinese goods. That prompted Beijing to retaliate with addi-tional tariffs on $60bn of US products, escalating a tariff war between the world’s two largest economies.

The US duties are set to rise sharply on January 1.

Both Washington and Beijing appear to be digging in for a long battle, though US officials say President Donald Trump would go through with plans to meet Chinese President Xi Jinping at the G20 summit next month if it looked like the discussions would be positive.

Nearly 80 percent of the survey respondents said the tariffs have knocked their businesses, with US tariffs having slightly more impact than the Chinese ones.

Around 85 percent of US companies said they have suffered from the com-bined tariffs, compared with around 70 percent of their Chinese counterparts. Companies from other countries also reported similar impacts as their American counterparts.

The top concern of companies sur-veyed was the rising cost of goods sold, which resulted in reduced profits. Other concerns included difficulties managing procurement and reduced sales.

One-third of companies estimated the trade dispute had reduced business volumes ranging from $1m to $50m, while nearly one in 10 manufacturers reported high-volume business losses of $250m or more.

Nearly half the companies surveyed also said there had been an increase in non-tariff barriers, including increased bureaucratic oversight and slower customs clearance.

Analysts have warned of such a risk to US firms as China is increasingly unable to match US measures on a dollar for dollar basis.

The survey’s findings add to evi-dence that export-reliant Chinese cities and provinces are facing growing strains. Guangdong, China’s biggest province by gross domestic product, reported a drop in exports in the first eight months from a year earlier.Buildings are seen in Shenzhen, at the central business district.

Net profit attributable to Aamal equity holders at QR336.3mTHE PENINSULA

DOHA: Aamal Company (Aamal), one of the region’s fastest growing diver-sified companies, declared QR953.1m in Group revenue for the financial period ended September 2018, down 23.7 percent posted a year ago. The gross profit is down 15.3 percent to QR354.9m year-on-year.

The drop in revenue is primarily due to the reclassification of two business entities within the Industrial Manufacturing segment from subsidi-aries to joint ventures from 1 April 2017, Aamal stated.

Aamal’s net underlying profit margins have increased by 2.1 per-centage points to 27.9 percent. There were no fair value gains on investment properties in neither Q3 2018 nor Q3 2017. Total net profit was down 10.7 percent to QR338.3m. Net profit attrib-utable to equity holders of Aamal is down by 4.7 percent to QR336.3m.

Reported earnings per share are down 5.4 percent at QR0.53 compared to QR0.56 reported during Q3 2017. Net capital investment expenditure increased by QR6.2m to QR78.9m.

Total Company net profit is before the deduction of net profit attributable to non-controlling interests.

Sheikh Faisal bin Qassim Al Thani,

Chairman of Aamal, commented:“As we have noted in previous quarters, we con-tinue to feel the impact of the reclassi-fication of two business entities within the Industrial Manufacturing segment from subsidiaries to joint ventures, with a consequent change in their accounting presentation.

This change will continue to impact our financial results until after Q4 2018, at which point the change will have fully annualized.

“Aside from this, however, we are pleased with our 2018 performance to date which demonstrates the resilience of the private sector and our ability to take advantage of the opportunities offered by the strength of the Qatari economy.”

Looking ahead, Sheikh Faisal said, Aamal will continue to strive to achieve the goals set out in the Qatar National Vision 2030 and remain committed to investigating new opportunities to

generate additional revenue streams, either organically through development of our existing business offerings or through the extension of our ever-diver-sifying business model, to ultimately create and enhance long-term share-holder value.

Sheikh Mohamed bin Faisal Al Thani, Vice-Chairman and Managing Director of Aamal, said: “Aamal continues to perform well as we enter the final few months of the year, and in the third quarter we have seen a notably strong performance from our Trading and Dis-tribution segment.

“In our Property segment, the rede-velopment work at City Centre Doha is progressing and the East Food Court is

due to open by year end. Furthermore, several of the refur-

bished areas are now available for leasing and we are now looking for new tenants to further enhance City Centre.”

In Aamal’s Trading and Distribution segment, he said, revenue and net profit increased by 15 percent and 4 percent, respectively. This is largely attributable to Aamal’s success in establishing alter-native supply chains.

It has also been an exciting quarter for the segment as it has expanded its network of business partnerships to introduce new products and services to the market. “We look forward to building on these successes in the final three months of the year,” he added.

Sheikh Faisal bin Qassim Al Thani (left), Chairman of Aamal; and Sheikh Mohamed bin Faisal Al Thani, Vice-Chairman and Managing Director of Aamal.

As we have noted in

previous quarters, we

continue to feel the impact

of the reclassification of two

business entities within the

Industrial Manufacturing

segment from subsidiaries

to joint ventures, with a

consequent change in their

accounting presentation.

Sheikh Faisal bin Qassim Al Thani, Chairman of Aamal

MPHC net profit surges to QR1bnTHE PENINSULA

DOHA: Mesaieed Petro-chemical Holding Company (MPHC), a subsidiary of Qatar Petroleum and one of the region’s premier diversified petrochemical conglomerates, reported a net profit of QR1bn for the period ended September 2018, outper-forming the net profit of QR806m reported during the corresponding period of previous year. On year-on-year, the MPHC net profit grew by a solid 28 percent or QR222m.

The group’s earnings per share rose to QR0.82 during the financial period, compared to QR0.64 from a year ago.

The increase in profit was

driven by improved selling prices by 13 percent and increased sales volumes by 5 percent, as the previous year witnessed planned turnaround in one of the group companies’ plants.

The groups’ profit for the period was also aided by the recognition of a tax refund of approximately QR98m for the period. The group continued to benefit from the supply of

competitively priced ethane feedstock and fuel gas under l o n g - t e r m s u p p l y agreements.

This contracting arrangement is an important value driver for the group’s profitability in a challenging market. The closing cash position after the first nine months of operations was a robust QR 1.5bn as at 30 September 2018.The total assets stood at QR14.9bn, com-pared to QR14.8bn as at 31 December 2017.

As compared to the pre-vious quarter, the net profit was up by QR52m or 17 percent, as the previous quarter witnessed planned annual maintenance shutdown in one of the group companies’ plants.

Ezdan Holding Group posts QR463m net profitTHE PENINSULA

DOHA: Ezdan Holding Group has announced its interim financial results for the period ended September 2018. The Group declared a net profit of QR463m for the period, down from QR1.41bn for the corresponding period last year. The Group’s earnings per share (EPS) reported QR0.17 by the end of the third quarter 2018, compared to QR 0.53 in the same period of 2017.

The Group generated oper-ating revenues of QR1.15bn during the first nine months of the year, compared to QR2.08bn in a year earlier same period.

Decline in Ezdan Holding Group reported net profit came

on the back of that some of the Group’s subsidiaries had sold all the investment units in a number of investment funds during the onset of the last year. Ezdan Holding Group operates an array of significant investments, mainly the real estate sector where it’s owned properties in Doha and its environs amount to approxi-mately 34.000 multi-purpose units.

The Group also owns and runs three sumptuous hotels and suites in Doha, in addition to three malls with outstanding top- class brands in Ghraffa, Wakra and Wukair. The Group also has a portfolio that abounds in diver-sified investments in various sectors.

The top concern of companies surveyed was the rising cost

of goods sold, which resulted in reduced profits. Other

concerns included difficulties managing procurement and

reduced sales. One-third of companies estimated the trade

dispute had reduced business volumes ranging from $1m to

$50m, while nearly one in 10 manufacturers reported high-

volume business losses of $250m or more.

Silicon Valley pursues a moonshot that mattersBLOOMBERG

NEW YORK: Last week brought what now seems like the usual crop of bad news from Silicon Valley: an alleged cover-up of harassment at Google, culture problems at Netflix Inc., more foreign meddling on Facebook Inc. and even underwhelming quarterly earnings from Amazon.com Inc. and Alphabet Inc.

So perhaps you missed a more sanguine development that harkens back to old, romantic ambitions of how technology can solve the world’s most critical problems. Y Combinator, the famed startup school that birthed companies like Airbnb Inc., Stripe Inc. and Dropbox Inc., said it would start looking for startups working on break-through technologies in the field of carbon capture, the science of pulling carbon-dioxide molecules out of the atmosphere, where they are contributing to a rapidly warming planet. “It’s time to invest and avidly pursue a new wave of technological solutions to this problem-including those that are risky, unproven, even unlikely to work,” Y Combi-nator writes on its website.

Y Combinator says it seeks to support companies that aim to absorb and isolate CO2 in one of four ways: by creating new breeds of phytoplankton, flooding deserts to grow plankton and other vegetation, mining and grinding certain types of carbon-absorbing rocks or designing specialised carbon-eating microbes. “The stuff all sounds bat-shit insane,” says Y Combinator partner Sam Altman (pic-tured), who’s leading the project. “I have no illusions about it.”

But desperate times call for desperate measures. Earlier this month the United Nations’ Intergovernmental Panel on Climate Change said the world must immediately mobilise to avoid catastrophic warming of more than 1.5 degrees Celsius.

Page 6: BUSINESS · 2018. 10. 30. · 22 BUSINESS TUESDAY 30 OCTOBER 2018 QFB announces Q3 financial results THE PENINSULA DOHA: Qatar First Bank, a leading Shari’ah compliant bank based

26 TUESDAY 30 OCTOBER 2018BUSINESSS

BREAK TIMEVILLAGGIO & CITY CENTER

Note: Programme is subject to change without prior notice.

Mandharam (2D/Malayalam) 2:00 & 11:30pm; The Princess And The Dragon (2D/Animation) 2:15 & 4:30pm; Jarugandi (Tamil) 2:30pm First Love (2D/Tagalog) 7:15pm; Ana And Bruno (2D/Animation) 3:45 & 5:30pm; Chalakkudikkaran Changathi (2D/Malayalam) 6:00pm; Baazaar (2D/Hindi) 5:00 & 9:00pm; Halloween (2D/Horror) 9:30pm; Hunter Killer (2D/Action) 7:30pm; Hell Fest (2D/Horror)

11:30pm; Badaai Ho (2D/Hindi) 11:30pm; The King Of Thieves (2D/Crime) 9:30pm

Baazaar (2D/Hindi) 2:15 & 9:00pm; Ana And Bruno (2D/Ani-

mation) 2:15 & 4:00pm; Jarugandi (Tamil) 5:00pm Mandharam (2D/Malayalam) 2:30pm; Badaai Ho (2D/Hindi)

4:45 & 11:00pm; Sandakozhi (2D/Tamil) 5:00pm; The Princess

And The Dragon (2D/Animation) 5:45pm; Hunter Killer (2D/Action) 7:00pm; Chalakkudikkaran

Changathi (2D/Malayalam) 8:00 & 11:00pm; Halloween (2D/Horror) 7:15 & 11:30pm; Hell Fest (2D/Horror) 9:15pm.

The Princess And The Dragon (2D/Animation) 2:30pm; Badaai Ho

(2D/Hindi) 2:30pm; Chalakkudikkaran Changathi (2D/Malayalam)

4:30pm; Ana And Bruno (2D/Animation) 5:00pm; Hunter Killer

(2D/Action) 7:30pm; The King Of Thieves (2D/Crime) 7:00pm; First Love (2D/Tagalog) 9:00pm; Hot Dog (2D/Action) 9:30pm; Halloween (2D/Horror) 11:30pm; Baazaar (2D/Hindi) 11:15pm

Jarugandi (Tamil) 5:45 & 11:30pmBaazaar (2D/Hindi) 5:45 & 11:15pm96 (Tamil) 8:15pmMandharam (2D/Malayalam) 8;30pm Kayamkulam Kochunni (Malayalam) 7:00, 10:00pm Sandakozhi (2D/Tamil) 5:30pmChalakkudikkaran Changathi (2D/Malayalam) 8:30pm Vada Chennai (2D/Tamil) 11:00pm

Hunter Killer (2D/Action) 10:45am, 1:15, 3:45, 6:15, 8:45 & 11:15pmJarugandi (Tamil) 10:30 & 3:45pm; Mandharam (2D/Malayalam) 12:15, 5:45 & 11:15pmBadaai Ho (2D/Hindi) 1:15 & 9:15pmChalakkudikkaran Changathi (2D/Malayalam) 3:00 & 8:30pmBaazaar (2D/Hindi) 6:30 & 11:45pm

5 Weddings 12:30, 5:00 & 9:30pm Ana And Bruno (2D/Ani-

mation) 12:30, 2:20 & 4:50 & 7:00pm; Baazaar (2D/Hindi) 9:10 & 11:55pm; Halloween (2D/Horror) 4:15, 6:40, 7:30, 8:20, 10;15pm & 0:10am; Badaai Ho (2D/Hindi) 2:30 & 7:00pm; Hal-

loween (2D/Horror) 4:15, 6:40, 7:30, 8:20, 10;15pm & 0:10am; Kayamkulam Kochunni (Malayalam) 3:50pm; Hunter Killer (2D/

Action) 3:50 & 10:30pm; Vada Chennai (2D/Tamil) 12:30 & 7:10pm

A man faces embarrassment in the society when he finds out his mother is pregnant

ROYAL PLAZA MALLCROSSWORD

LANDMARK

FLIK Lagoona Mall

AL KHOR

ROXY

ASIAN TOWN

A Star Is Born 1:40pm; Ana And Bruno (2D/Animation) 2:30 & 6:00pm; Goosebumps2: Haunted Halloween (2D/Comedy)

12:30, 2:20 & 6:20pm; Halloween (2D/Horror) 4:15, 6:40, 7:30, 8:20, 10;15pm & 0:10am; Hunter Killer (2D/Action)

12:20, 2:45, 4:20, 5:10, 7:55, 8:45, 9:45, 10:25, 11:05, 11:20pm & 0:20am; The Princess And The Dragon (2D/Animation)

11:20am, 12:55 & 4:25pm

BADAI HO

Red Hat scrips jump, IBM dipsREUTERS

NEW YORK: IBM Corp’s $34bn deal to buy Red Hat Inc drove shares in the small but fast-growing software maker 50 percent higher yesterday, reflecting the huge premium IBM is paying to ward off any potential challenger bids. At $175, shares of Red Hat were still trading around $15 short of the $190 price agreed by the two companies in Sunday’s announcement, and analysts said that pointed to some remaining nerves among investors over the chances of the deal closing.

The breakup fee for the deal has yet to be announced and a high fee would also deter Red Hat from entertaining other buyers.

IBM’s stock was down about 5 percent on news of the deal.

The company’s Chief Exec-utive Officer Ginni Rometty told CNBC in an interview aired yes-terday that she felt the deal was done at the right price.

“This is a very fair price...(Red Hat CEO Jim Whitehurst) has built a great company, and unlike others, high growth, high profit and cash and so this is why I think really those are important things for our investors,” Rometty said.

One brokerage, Stifel, raised the prospect of a competing offer from one of the other major

players in cloud computing for whom the deal represents the emergence of a more substantial rival.

“Google, Amazon, and Microsoft (and potentially Oracle) have the strategic moti-vations and financial resources to consummate such a trans-action and would not be sur-prised if we were to see one of them make a competing bid,” analysts from Stifel said in a note.

Rometty told Reuters on Sunday that the increasing use of cloud services from multiple providers was the driving force behind the deal along with the rise of the so-called hybrid cloud, in which companies run some of their software in their own data centers and other elements of it in data centers run by IBM, Amazon Web Services or Google Cloud, among others.

Red Hat has been investing heavily in tech tools such as so-called “containers,” which make it easier for businesses to split up their computing work among a mix of data centers.

“They want choice and we are going to give it to them,” Rometty said. “Multi-cloud is a fact of life.”

In buying Red Hat, IBM will have assembled a cloud that includes physical servers, its own operating system and applica-tions like human resources software.

But the combined entity will also sell software that runs on its customers own hardware and other clouds. That will put it in direct competition with firms like Microsoft, which has a similar mix of software and cloud services. “We are going to both compete and partner with those other clouds,” Rometty said. “The thing about IBM is, we’ve been around long enough to know this is a multi-cloud world.”

Jim Whitehurst, the CEO of Red Hat, said the use of multiple clouds has been an advantage for Red Hat.

Cloud providers such as Amazon often offer a house-made version of the Linux oper-ating system for free or at little cost. But that version of Linux is

available only on Amazon, and if the business wants to run software on another cloud they would have to ensure it works with a different version of Linux there.

Red Hat offers a standard version of Linux that runs on commonly available clouds as well as a business’s own data centers, and Whitehurst said Red Hat customers were increasingly running its operating system on public clouds.

“We are growing faster on the public clouds than the public clouds are growing,” Whitehurst said in an interview. “Yeah, you pay us a little extra versus a free cloud offering, but you get the benefit of a standard operating environment.”

A man passes by a logo at IBM office in Hortolandia, about 100km north from Sao Paulo, Brazil

Euronext equities suffer outage after ‘technical issues’BLOOMBERG

LONDON: Euronext NV halted trading on its equities platform yesterday morning, blaming technical problems for its worst outage in two years.

The exchange operator, Europe’s third-biggest by revenue last year, opened its equity market for just 10 minutes yesterday before shutting it down due to uniden-tified issues. Trading resumed at 12:20 pm central European time, with related derivatives starting up 10 minutes later.

The technical issues will come as an embarrassment to Euronext Chief Executive Officer Stephane Boujnah (pictured), after the company said that moving its cash-equity markets onto a new platform positioned the firm “as a market infra-structure technology leader.”

The firm owns some of the most valuable indexes in Europe, including the CAC 40 in France, the AEX in the Nether-lands and Belgium’s BEL 20.

The delayed opening is Euronext’s worst outage since August 2016, when futures con-tracts failed to open for the first

three hours of trading. London Stock Exchange Group also had a major shutdown earlier this year, while Deutsche Boerse AG delayed the opening of its main Xetra stock exchange by more than an hour two weeks ago.

Baillie Gifford willing to invest more in TeslaREUTERS

BENGALURU: Baillie Gifford & Co, one of the top shareholders of Tesla Inc, has said it would be willing to inject more cash into the electric carmaker, the

Times reported yesterday.“If he (Tesla CEO Elon

Musk) needs more capital we would be willing to back him,” the Times quoted Nick Thomas (pictured), a partner at Edin-burgh-based Baillie Gifford, as

saying.Baillie Gifford is Tesla’s

third-largest shareholder with a 7.72 percent stake. Elon Musk tops the list with about 20 percent ownership of the electric carmaker

followed by T Rowe Price Associates Inc, which owns about 10 percent, according to Refinitiv data.

The backing from Baillie Gifford comes days after Tesla reported a net profit of $311.5m

in the third quarter.A spokesman for Baillie

Gifford declined to comment on the report, while Tesla did not immediately respond to a request for comment.

The delayed opening

is Euronext’s worst

outage since August

2016, when futures

contracts failed to

open for the first

three hours of

trading.

Page 7: BUSINESS · 2018. 10. 30. · 22 BUSINESS TUESDAY 30 OCTOBER 2018 QFB announces Q3 financial results THE PENINSULA DOHA: Qatar First Bank, a leading Shari’ah compliant bank based

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REGENCY PEARL 1 (THE PEARL): Fully furnished =� �������� 6� �.H���� ��������� ������ �������� � ������� �� ����������� �������� � � ����������� ��-��� ��!�"�#$� �%"&'#'"()�(��������*������+�����..��������������C��*�+�������!�"�#$�("�/'�"()� 02� ������ �������+�� ���������� �� ���������� �� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�::<8�<=7>� �::<7�<070� � ??;;� 0>72� � ??;;� 0>:?� ��� "%�'4)� ���*���=�������@����������������� REGENCY PEARL 2 (THE PEARL): Fully furnished 0� ���������� ��������� ������ �������� � ������� �� ������� ������������� ��������������-�����!�"�#$��%"&'#'"()�(��������*������+�����..��������������C��*�+�������!�"�#$�("�/'�"()�02� ������ �������+�� ���������� �� ���������� �� 3!�� %!�"�'&3!�%�#'!&� �4"�("� ��44)� 567829� 8;02� ??20� � ::<7�<070� � ??;;� 0>72� � ??;;� 0>:?� ��� "%�'4)� ���*����������@�����������������

UMM BAB TOWER (WESTBAY):� 3���+� .��������� 0����������0�%����-��������������������������������������������� ��������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()�'���������������*�����.���+��I��**����+��������+����������C��*�+������� �� �������� *������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�>>072>0=� �:::0�?=2;� �::<7�:7:?� �::<7�;2?0����"%�'4)������+�������@�������������������

UMM BAB TOWER (WESTBAY):� 3���+� .��������� >��������� 6� ���-� ����� � � J�����)� >� %����-�� �������� �������������������������������������������� ����������������������!�"�#$��%"&'#'"()� '���������������*����� .���+��I��**����+��� �����+����������C��*�+�����������������*�������3!��%!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� >>072>0= � ??;;�2?>?� � :::=� 08>2� ::<7� <070� ��� "%�'4)� �����+�������@�������������������

VILLA DESTE 1 (AL WAAB):�(����.���������>�������������)�%����-����������� �������������������������������������� �������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()�(��������*������+���������������!�"�#$�("�/'�"()�02����������������� �� �������+�� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>:0�=8=>� �::<7�:7:?� �::<7�;2?0�� ??;;�2?>?�����"%�'4)�����������@�����������������

VILLA DESTE 2 (AL WAAB):�(����.���������>�������������)�%����-����������� �������������������������������������� �������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()�(��������*������+���������������!�"�#$�("�/'�"()�02����������������� �� �������+�� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>:0=8=>� �:::=�08>2� ::<7�<070� �??;;�=>07����"%�'4)�����������@�����������������

BEVERLY HILLS GARDEN 10 (Al WAAB): Semi .��������� 2� �������� ����)� >� ��������� ������ �������� �����+������� ������� �� ������� ���� �������� � � �*���� ��-��� ��!�"�#$��%"&'#'"()� (�������� *����� B�������� ��������-�� *�+� ����K+�������� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:0� =8=>� � ??;;� =>07� � ::<:� ;2=>� � :::2� =?;<� ��� "%�'4)�����������@�����������������

AIN KHALID GATE:� 3���+� .��������� 2� �������� ���������� 0� %����-�� �������� ����� ������� ��������� ��������������� ������ �������� ���-�� ������ �����+� ������ 0� ������������������������ ��������� � �������������-������+�������� *������ ��������� *����� ��!�"�#$� �%"&'#'"()� (��������������� �������� L������� ������� K+��� ������� L������� ���������������������������������������������������I�������������I������*��������������+����*��������+����������������������������!�"�#$�("�/'�"()�02��������������+��������������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� ::?=�870?� �::<:�:08=� � � ::<7�:7:?� � � ::<7�;2?0� ���� "%�'4)� ��������������@�����������������

BEVERLY HILLS GARDEN 2 (AL WAAB): Semi .���������2��������������)�0�%����-��B����������������������������.���+�������������������������������������*��������������������������+�����-�� ������������������� ���������� ������� ������ ��������� ������ ��� *��� ��� ���+������!�"�#$� �%"&'#'"()� (�������� *����� �+��� �������� ����������������������������������������������-��*�+�������!�"�#$�("�/'�"()� 02� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:0�=8=>� �??;;�=>07� �::<:�;2=>� �:::2�=?;<� �??;;2?>?����"%�'4)�����������@�����������������

BEVERLY HILLS GARDEN 1 (AL WAAB): Semi .���������2��������������)�0�%����-��B�����������������������������.���+�������������������������������������*��������������������������+�����-�� ������������������� ���������� ������� ������ ��������� ������ ��� *��� ��� ���+������!�"�#$� �%"&'#'"()� (�������� *����� �+��� �������� ����������������������������������������������-��*�+�������!�"�#$�("�/'�"()� 02� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:0�=8=>� �??;;�=>07� �::<:�;2=>� �:::2�=?;<� �??;;2?>?����"%�'4)�����������@�����������������

VILLA DESTE 1 (AL WAAB):�(����.���������:�������������)�%����-����������� �������������������������������������� �������� ������� �� ������� ���� ��!�"�#$� �%"&'#'"()�(��������*������+���������������!�"�#$�("�/'�"()�02����������������� �� �������+�� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>:0�=8=>� �??;;�0>72� �??;;�0>:?� :::0�?=2;����"%�'4)�����������@�������������������

AZGHAWA COMPOUND (AZGHAWA): Semi .���������2� ������������)� >� ���������� ������ �������� ������� �������������������������!�"�#$��%"&'#'"()�(�����������������������*���������������!�"�#$�("�/'�"()�02��������������+��������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>07� 2>0= � ::<7� ;2?0� � � ??;;� 2?>?� � :::=� 08>2� ��� "%�'4)���++��������@�����������������

AIN KHALID COMPOUND (AIN KHALID): Fully .��������� =� �������� �)� �������� ������� �� ������� ��� �������������!�"�#$��%"&'#'"()�(��������*������+���������������*�������� �� ���-�� *�+� ���� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�>>2>�>=?<� �::<:�;2=>� �:::2�=?;<� �??;;�0>72����"%�'4)����������@�����������������

AIN KHALID COMPOUND (AIN KHALID): Fully .��������� 0� �������� �)� 0� �������� ������� �� ������� ����� ��������� ��!�"�#$� �%"&'#'"()� (�������� *����� �+������������� ��*�������� �� ���-�� *�+� ���� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�??;;�0>:?� �:::0�?=2;� �::<7�:7:?����"%�'4)����������@�����������������

REGENCY RESIDENCE AL SADD 1 (AL SADD): Fully .��������� =� �������� �)� %����-�� �������� ����� ���������������� ������ �������� ������� �� ������� ��� �� �������� � ������������� �����!�"�#$��%"&'#'"()�(��������������K+���(��� ������ L��������(���� ��������!�"�#$�("�/'�"()�02������� �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("� ��44)� 567829� >>=;� 0?2?� � � ??;;� =>07� � >>77� 20??� �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE AL SADD 1 (AL SADD): Fully .��������� 0� �������� �)� %����-�� �������� ����� ���������������� � ��������� ������ �������� ������� �� ������� ��� ���������� � � ����������� � ��� ��!�"�#$� �%"&'#'"()� (�������������� K+��� (��� ������ L������ �� (���� ������ ��!�"�#$�("�/'�"()� 02� ������ �������+� �� ����������� 3!�� %!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?� �::<:�;2=>� �:::2�=?;<� �??;;�0>72� �??;;2?>?����"%�'4)������������@������������������

REGENCY RESIDENCE ALSADD 3 (AL SADD): Fully .��������� >� �������� �)� %����-�� �������� ����� ��������������������������������������������� ������������������������������ � ������������ ��� ��!�"�#$�("�/'�"()� 02�G������������+��������������������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?� ??;;�0>:?� �:::0�?=2;� �::<7�:7:?� �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE AL SADD 10 (AL SADD): Fully .��������� >� �������� �)� %����-�� �������� ����� ���������������� ������ ��������� ������ �������� ������� ��� ���������� �������� ����� ������������ ��� 3!�� %!�"� '&3!�%�#'!&��4"�("� ��44)� 567829� >>=;� 0?2?� ??;;� 0>:?� � :::0� ?=2;� �::<7� :7:?� ��� "%�'4)� �����������@������������������������������@������������������

REGENCY RESIDENCE AL SADD 12 (AL SADD): Fully .��������� =� �������� �)�� ��������� ������� �� ������� ��� ���������� � � (*���� � ��� ��!�"�#$� �%"&'#'"()� 3���+� �I��**����+��� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �� �����������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>=;�0?2?�� �??;;�=>07� �::<:�;2=>� �??;;2?>?����"%�'4)������������@������������������

REGENCY RESIDENCE AL SADD 12 (AL SADD): 3���+�.���������=����������)�������������������������������� �������� � (*���� � ��� ��!�"�#$� �%"&'#'"()� 3���+� �I��**����+��� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>=;�0?2?� �??;;�=>07� �::<:�;2=>� �??;;2?>?����"%�'4)������������@������������������

REGENCY RESIDENCE AL SADD 13 (AL SADD): 3���+�.���������=����������)�������������������������������� �������� � � ����������� � ��� ��!�"�#$� ("�/'�"()� 02� �������������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&� �4"�("���44)�567829�>>=;�0?2?� �??;;�0>72� �::<7;0;8� �:::0�?=2; �??;;2?>?����"%�'4)������������@����������������� REGENCY RESIDENCE MUSHEIREB 1 (MUSHEIREB): 3���+�.���������=������������������������������������������ �������� � � ����������� � ��� ��!�"�#$� �%"&'#'"()� '������(��������������K+���(�����������������L�������B����������!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�::8;�=802� �::7>�?8:<� �>>77�20??� �::<7�:7:?����"%�'4)�����������������@����������������� REGENCY RESIDENCE AIRPORT 1 (DOHA AREA): 3���+�.���������=������������������������������������������������� ��*������-�����!�"�#$��%"&'#'"()�(��������*������K+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �??;;�2?>?� �:::=�08>2����"%�'4)�����������@����������������� REGENCY RESIDENCE AIRPORT 1 (DOHA AREA): (����.���������0������������������������������������������������� ��*������-�����!�"�#$��%"&'#'"()�(��������*������K+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �::<7�<070� �??;;�=>07����"%�'4)�����������@������������������

REGENCY RESIDENCE AIRPORT 2 (DOHA AREA): (���� .��������� 0� �������� ��� ��������� ������� �� �������

�������������� ��*����� �����!�"�#$��%"&'#'"()�(��������*����� ��!�"�#$� ("�/'�"()� 02� ����� �������+� �� �����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>;>7�:0<8� �::<:�;2=>� �>>2>�>=?<����"%�'4)�����������@�����������������

63 OLD SALATA (OLD SALATA):�3���+�.�����������������+*�� ��� �������� �� �������� � � ����������� � ��� ��!�"�#$��%"&'#'"()� K+��� ��!�"�#$� ("�/'�"()� 02� ����� �������+� ��������������3!��%!�"�'&3!�%�#'!&��4"�("���44)�567829�>>:?�8=:?� �>;>7�:0<8� �:::0�?=2;� �>>2>�>=?<����"%�'4)�����������@�����������������

GULF RESIDENCE 13 (MUNTAZAH): Fully furnished >� �������� �)� %����-�� �������� ����� ������� ����������������������������������������������������� ������������� ��� ��!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>:?�8=:?� �>>2>�>=?<� �::<7�;2?0� �??;;�2?>?����"%�'4)�����������@�����������������

GULF RESIDENCE 14 (MUNTAZAH):�3���+�.���������>����������)�%����-�����������������������������������������������������������������������������!�"�#$�("�/'�"()�02� ������ �������+� �� ����������� 3!�� %!�"� '&3!�%�#'!&��4"�("���44)�567829�>>:?�8=:?� �>;>7�:0<8� �:::=�08>2� �::<7�<070����"%�'4)������������@����������������� GULF RESIDENCE 14 (AL NASSER):� 3���+� .���������0����������)������������������������������������������������!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�>>=;�0?2?� �??;;�=>07� � ::<:� ;2=>� � :::2� =?;<� ��� "%�'4)� �����������@������������������

BIN DIRHAM 1 (MANSOURA):� M�.��������� 0����������)������������������������������������������������!�"�#$� ("�/'�"()� 02� ������ �������+� �� ����������� 3!��%!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� � >;>7� :0<8� �>>:?�8=:?� �??;;�0>72� �??;;�0>:?����"%�'4)�������������@������������������

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18 FLATS (AL WAKRA):� =<� M�.��������� ���� �*������������ ��.��� ������� ��� �������� *������� 0� .���� ������������ 02� ������ ���������� 5�J��� ���������� ��� ��9� 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�>;>7�:0<8� �>>:?�8=:?� �>>2>�>=?<����"%�'4)�������������@�����������������

DOHA GARDENS (AL WAAB):�3���+�.���������>����������)�%�����B�������������������������������������������������������!�"�#$�("�/'�"()�02��������������+��������������3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� >>=;�0?2?� �??;;�=>07� �::<:�;2=>� �:::2�=?;<����"%�'4)������������@������������������

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AL ASMAKH TOWER (WESTBAY):� B���� &��� !.H���#����� � � ����������� � �)� ���� �� .����� ������� *��� ������ *���+�� 3!�� %!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829�>>;>88><����"%�'4)����+����@������������������

REGENCY BUSINESS CENTER 3 (GRAND HAMAD STREET):� ���������� !.H��� (*��� � � ����������� � ������������*���+�� ������������������� �������+��������#/���(*��������H����.��+��+������3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829� >;>7� :0<8� � >>:?� 8=:?� � :::2� =?;<� ��� "%�'4)�����������@������������������

REGENCY BUSINESS CENTER 2 (CORNICHE): ���������� !.H��� (*��� � � ����������� � ��� ������� �� *���+��������� ��� ��������� �� (*�������� H��� �.��+� �+������ 3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�>;>7�:0<8� �>>:?�8=:?� �??;;�0>72����"%�'4)�����������@�����������������

SALWA ROAD OFFICES:� %�������� 6� =��� 3����)� =0�!.H����� 4������ ���� =?2� ��� =72� �I�� �� 0� ������� (����� ����!.H���� 3!�� %!�"� '&3!�%�#'!&� �4"�("� ��44)� 567829� ::<7�;0;8�����"%�'4)���������@������������������

REGENCY BUSINESS CENTER 2 (CORNICHE STREET):� ���������� !.H��� (*��� � � ����������� � ������������*���+�� ������������������� �������+��������#/���(*��������H����.��+��+������3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829� >;>7� :0<8� � >>:?� 8=:?� � :::2� =?;<� ��� "%�'4)�����������@������������������

OFFICE COMMERCIAL BUILDING:� ���������� !.H���(*���� �B��������K������6�0�3�������==2��������(������3!��%!�"�'&3!�%�#'!&��4"�("���44)� 567829�::<7�;0;8� �222<�:===� �2;2=�;80:����"%�'4)� ��������@�������������������

J-COMPLEX: Brand New Commercial Building (Umm Salal Mohammed). ��!�"�#$� N"#�'4()� "������*���� ���������*���+��� 3!��%!�"� '&3!�%�#'!&��4"�("���44)� 567829� :::=08>2� � :::0?=2;� ��� "%�'4)� ���������@������������������

AL ASMAKH LISTINGSCALL CENTER: 4448 5111 / 4041 0757

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27TUESDAY 30 OCTOBER 2018 CLASSIFIEDS