“There is more demand for new technologies than new investments in oil and gas industry in Iran” Zanganeh, the oil minister of Iran mentioned in a meeting with energy companies in Berlin, Germany. He also added that Iran has a good infrastructure in this sector and support of government. He said that billions of dollars are already invested in south part of Iran for petrochemical projects, while for more extractions newer technologies are needed. He asked the German energy companies for starting corporation with Iranian counterparts.
Mobin trades get back to normal. Mobin Petrochemical Company’s shares were initially offered with a price of 2900 IRR and reached 3391 IRR within 10 days. After a buying pressure for 10 days, the company’s shares were traded near settlement price on negative percentage. It’s noteworthy to mention that 1338 of 2,061 IRR bn value of today’s market trading value belongs to Mobin transactions.
Iran has participated in a pharmaceutical tender for exporting medicine to Iraq, The portfolio manager of Etela Alborz Investment Company announced. The value of this tender is estimated 40 Million USD and with regard to the released prices on Iraq health ministry’s website is a great possibility for Etella Alborz to win a complete or part of the project. Iraq is planning for furnishing its drug stores while Iran has reached international standards in this field.
“We’ve done a pretty good assessment on our side and we think the demand, should things open up, would be very strong,” vice president sales, Middle East, Russia & Central Asia at Boeing, told reporters in Dubai . Since 1970 Iran has been banned from buying aircraft and related parts by sanctions. In 2014, Boeing got a license from US government to sells aircrafts’ spare parts to Iran. However, not a significant amount has been sold to Iran. It is estimated that within 10 years Iran will be in need of replacing at least 400 aircraft with its current fleet.
Iran Faravari Co. announced its audited return for FY2014. The company made 311 IRR return per share in 12 months period ending 20 Mar 2015 which recorded 65% drop compared with a year before. The company’s return in FY2013 was 881 IRR per share. Faravari’s actual volume of production and sales during 12 months period showed 336 and 500 tons decrease respectively compared with FY2014 forecasted budget. Income from investment also reduced by 17 percent compared with forecasted budget. The company’s net sales dropped by 16 percent compared with a year before and the gross profit declined by 59 percent.
All the trades on companies’ shares were started with one hour delay due to internal technical problems. After the market opening, only 43 buyers could purchase more than 18 million of Mobin’s shares which was led to other buyers’ dissatisfaction. 5 billion buying order on Mobin Petrochemical Co. at the beginning of today’s trades, made the market observers to halt the Mobin’s trades and put the volume limitation of 100 thousand shares per order. Later, TSE halted the share and announced that all the today’s trades on this share have been canceled.
Piazar Agribusiness Co. (Ghazar) recorded 74 percent increase in return for 9 months period of 2014 compared with same period a year before. With 30 IRR bn capital, The company made 357 IRR return per share in 9 months period of 2014 and covered 76 % of its 2014 forecasted EPS. The EPS for FY2014 had been estimated 467 IRR. The company recognized 401 IRR return per share for FY2013. The company’s profit margin for FY2014 was 37% which increased 8% compared with FY2013. The 150 percent raising capital plan also has been approved.
Seven percent stake of Mobin Petrochemical Co. was offered today by Persian Gulf petrochemical Holding Co. and each share priced at 2900 IRR. Mobin is a utility company the main products of which, including steam, Electricity, Nitrogen and Industrial waters, are sold to Pars, Jam and Ariya Sasool petrochemical companies. It’s noteworthy to mention the 1,107 IRR bn Mobin’s debt to Boushehr Sate Gas Company. The company is providing gas for Zagros & Pardis petrochemical companies which have not settled their debts with Mobin. However, the company denies any effect of this debt on its financial statements. The main risk which is threatening the company is the gas rate. Based on the latest financial reports, the level price of 300 IRR was considered reasonable for Mobin’s share. In only 63 seconds, 570 million shares were purchased and Mobin market cap was recorded more than 4.1 thousand IRR bn. The other 287 million shares were purchased for Mobin and other Persian Gulf subsidiaries.
Following the participation of Electricity Meter Manufacturing Co. (Sherkat Kontorsazi Iran- SKI) in Syria’s three open tender buying which were held by the Syrian Electricity distribution Organization for purchasing the power meter, the company’s products met all the requirements and international standards and approved for purchase. Based on the three contacts were signed, the SKI is required to export 400 thousand single phase electricity meters, 50 thousand direct 3 phase electricity meters, 25 thousand indirect phase electricity meters to Syria in 2015-16. Financing of these contracts will be from the existence credit between Iran & Syria and will be through the Saderat Bank.
The CEO of Persian Gulf Petrochemical Holding Co. (FARS) announced the one billion Euro investments in development projects of the company in 2015-16. Regarding to strategic plans, he also added, the company will reach its 100% capacity in 3 years. By emphasizing on current challenges he hoped the company would reach 80% capacity (20 Million tons production) in 2015. Persian Gulf holding has a nominal capacity of 22 Million tons. Last year, 35% of reduction in production was due to lack of raw materials and feed in all company’s subsidiaries. The company’s subsidiaries have increased from 15 to 60 companies, exporting 8 to 9 billion dollars annually. Having 11 percent of total market cap and diversity of activities in its subsidiaries is a privilege of Fars in Iran’s capital market.