ADIC Asset Management
Alternative Investments, Equities Research, Portofilio Management
UAE Equities
Equities Bulletin
Bulletin
UAE
Issue: 132
Day: 23 Month: March
Vol
Mn
Share
Year:2008
Market
Stats
Close
19/03/08
1
day
(%)
1
Month
(%)
ADSM
4,676.47
2.15
-2.53
3.44
35.20
55.26
172,630
981.18
144.88
4,590
31
9
3
DFM
5,578.19
-0.70
-5.36
-2.78
32.18
45.85
105,521
1,339.60
291.50
7,829
7
18
2
688.28
0.05
-6.06
-7.05
23.80
39.33
172,630
1,842.29
311.99
9,045
20
12
2
MSCI UAE
Domestic
3
6
12
MCap Turnover
Months Months Months US$ mn AED mn
(%)
(%)
(%)
Quarter:1
# of Advanced Declined Unchanged
Trades
Market Commentary
ADSM Index went up by 2.15%
The ADSM index went up by 2.15% to close at 4,676.47. Al Dar went up by 4.48% to close at AED 10.50. Union National Bank
went up by 4.38% to close at AED 7.87.
DFM Index decreased by 0.70%
DFM index decreased by 0.70% to close at 5,578.19. Shuaa decreased by 3.16% to close at AED 7.98 and Dubai Islamic Bank went
down by 1.68% to close at AED 9.81.
For information contact:
Hend Al Falasi
+ 971 (2) 692 6407
h.alfalasi@adic.ae
Zayed Al Mansoori
+ 971 (2) 666 0208
zayedalmansoori@adic.ae
Event
Comment
Etisalat Takes Part in Cairo Trade Fair
for the First Time
Ebtikar card systems, a subsidiary of etisalat services holding, is participating for the first
time in the 41st Cairo International Fair, announced the UAE's major telecom operator in a
press release.
Amlak Launches Sale of Al Khawaneej
Land
Amlak Finance announced yesterday the launch of the sale of Al Khawaneej plots exclusively through Al Khayyat Real Estate. According to Arif Alharmi, Chief Executive Officer,
Amlak Finance PJSC, the decision to sell Al Khawaneej comes at the appropriate time, as
the demand in the market for the size of the land and the location is at its best.
Emaar on Schedule with UAQ Marina
Development
Emaar Properties says it is on schedule with its Umm Al Quwain Marina development, with
construction work under way. Umm Al Quwain Marina has already launched sales of villas
and townhouses within the first residential phase of the project, according to an Emaar
spokesperson.
The UAE Central Bank today announced a cut in the interest rate of its re-purchase of CerCentral Bank Announces a Cut Interest
tificate of Deposit (REPO) from 3% to 2.5% with effect from today, Wednesday, March 19,
Rate
2008. Bank.
RAK Properties PJSC, the prominent real estate company in Ras Al Khaimah, has postponed their Annual General Meeting (AGM), originally scheduled for March 20, 2008 to
Saturday, March 29, 2008 at 11:00am at Hilton Ras Al Khaimah Hotel.
RAK Properties Postpones Annual
General Meeting
Tabl Top % Gainers
Top % Losers
bTop Trades
Top Turnove(AED MN)
Mohammed Al Hashemi,ASIP
Head of Asset Management
+971 (2) 665 0137
m.alhashemi@adic.ae
1
Takaful Ins.
9.97%
RAK Ceramics
-16.78%
DFM
348.84
DFM
1,333
2
Nat Bk Fujairah
9.55%
Shjh Islamic Bk
-11.86%
Al Dar
348.26
Air Arabia
1,160
3
Nat Bk Um Qwn
9.18%
Um Qwn Cem
-7.89%
Emaar
268.27
Emaar
852
Mona Saeed
Marketing Coordinator
+ 971 (2) 665 2560
m.abdulla@adic.ae
4
Ad Aviation
8.65%
Grand
-5.83%
Ad Islamic Bk
143.49
Al Dar
635
5
Nat General Ins.
4.95%
Scandanavian Ins.
-4.91%
Air Arabia
133.66
Tabreed
596
6
Aldar
4.48%
Fujairah Cem
-4.58%
Dubai Islamic Bk
109.05
Dubai Islamic Bk
577
7
Union Nat Bk
4.38%
Shuaa
-3.16%
Sorouh
108.28
Dana Gas
569
8
Ad Ship Building
4.17%
Foodco
-2.15%
Aabar
78.90
Amlak
558
9
RAK Prop.
3.86%
Aman Ins.
-1.92%
Deyaar
72.34
Ad Islamic Bk
556
10
First Gulf Bk
3.85%
Dubai Islamic Bk
-1.80%
Union Properties
69.13
Deyaar
472
http:// www.adic.ae
ADSM INDEX
DFM INDEX
Daily Q.ADI
9/5/2007 - 3/26/2008 (AUH)
Price
AED
BarOHLC, Q.ADI, Last Trade
3/2/2008, 4,815.87, 4,815.87, 4,781.41, 4,787.39
SMA, Q.ADI, Last Trade(Last), 14
3/2/2008, 4,777.44
4,600
Daily Q.DFMGI
9/4/2007 - 3/26/2008 (AUH)
Price
AED
BarOHLC, Q.DFMGI, Last Trade
3/2/2008, 5,958.18, 5,958.18, 5,835.42, 5,866.91
SMA, Q.DFMGI, Last Trade(Last), 14
3/2/2008, 5,818.68
5,600
4,400
National Financial Brokerage Co.
Phone: +971 (2) 6106000
Fax: +971 (2) 6221541
www.nfbc.ae
August 2nd,2007
4,200
5,200
4,000
4,800
3,800
3,600
4,400
.12
.12
10
17
24
September 2007
01
08 15
22
October 2007
29
05
12
19
26
November 2007
04
10
17
December 2007
31
07
14
21
January 2008
28
04
11
18
25
February 2008
03
10
17
March 2008
24
10
17
24
September 2007
01
08 15
22
October 2007
29
05
12
19
26
November 2007
04
10
17 24
December 2007
31
07
15
21
January 2008
28
04
11
18
25
February 2008
03
10
17
24
March 2008
Disclaimer: Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. Any and all ideas, opinions, forecasts, market analysis or market data, expressed or implied herein, are for informational purposes only and should not be construed as trading recommendations to invest,
trade, buy or sell securities and or speculate in any specific futures contract, option, or any other market. Any investments, trades, and or speculations made
in light of the ideas, opinions, and or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise. The market data contained herein is believed to be reliable, but has not been independently verified. Accordingly, such data cannot be guaranteed as to reliability, accuracy, or
completeness, and as such are subject to change without notice. In no event will ADIC or any of its employees be liable for any information contained herein.
Sources: Reuters, Bloomberg, Zawya, MSCI, Emirates Today
Issue:132 Day: 23
Month: March
Quarter:1 Year:2008
UAE Equities
Equities Bulletin
Bulletin
UAE
Absolute Returns
Top 40 UAE
Companies
Sector
Air Arabia
Abu Dhabi Islamic Bank
Emirates NBD
Nat'l Bank of Abu Dhabi
Dubai Islamic Bank
First Gulf Bank
Commercial Bank International
Sharjah Islamic Bank
Bank of Sharjah
Abu Dhabi Commercial Bank
Union National Bank
Union Cement
Sharjah Cement
Gulf Cement
Tabreed
Abu Dhabi Nat'l Co for building
Dubai Financial Market
Amlak
Waha Capital
Tamweel
Abu Dhabi Nat'l Energy
Arabtec
Arkan
Islamic Arab Insurance
Shuaa
Abu Dhabi National Hotels
Aabar Petroleum
Dana Gas
AlDar
Sorouh
Deyaar
EMAAR
Union Properties
RAK Properties
Du
Etisalat
Aramex
Gulf Navigation Holding
Abu Dhabi Aviation
Dubai Investment
Airlines
Banks
Banks
Banks
Banks
Banks
Banks
Banks
Banks
Banks
Banks
Blding Materials
Blding Materials
Blding Materials
Blding Materials
Distribution
Div. Financials
Div. Financials
Div. Financials
Div. Financials
Electric
Eng&Constr
Home Builders
Insurance
Invest. Comp
Lodging
Oil&Gas
Pipelines
Real Estate
Real Estate
Real Estate
Real Estate
Real Estate
Real Estate
Telecom
Telecom
Transportation
Transportation
Transportation
Venture Capital
Total
19/03/08
Full MCap
close (AED) (Mn USD)
1.95
68.70
14.00
22.95
9.81
20.25
3.20
2.60
3.02
6.30
7.87
4.15
6.80
6.93
2.69
4.01
5.65
4.38
2.36
6.70
3.47
11.70
3.82
3.30
7.98
9.74
3.66
2.19
10.50
10.05
2.39
11.35
4.45
2.42
5.97
23.80
2.89
1.56
5.78
5.53
Wt in
Weights Sector
*P/E
PEG
Ratio
D/Y
*P/BV *P/CF
Return Relative to the Market
*P/SALE
S
BETA 1 Month 3 Month 6 Month 12 Month
2,479.58
3,688.81
16,561.04
9,951.07
9,209.64
7,586.85
949.54
1,558.58
1,028.61
6,866.49
4,020.78
761.66
870.48
1,348.23
889.37
327.79
12,316.08
1,790.19
0.00
1,825.61
3,923.84
1,906.43
1,821.53
989.10
1,195.91
1,910.84
897.55
3,580.38
6,708.37
6,846.05
3,762.78
18,838.03
3,373.91
1,318.80
6,506.81
32,368.32
866.21
703.49
636.83
3,270.90
1.34%
1.99%
8.93%
5.37%
4.97%
4.09%
0.51%
0.84%
0.55%
3.70%
2.17%
0.41%
0.47%
0.73%
0.48%
0.18%
6.64%
0.97%
0.00%
0.98%
2.12%
1.03%
0.98%
0.53%
0.64%
1.03%
0.48%
1.93%
3.62%
3.69%
2.03%
10.16%
1.82%
0.71%
3.51%
17.45%
0.47%
0.38%
0.34%
1.76%
100.00% 24.07
6.01%
14.83
26.96%
16.20%
14.58
14.99%
13.50
12.35%
13.87
1.55%
10.50
2.54%
11.37
1.67%
9.34
11.18%
12.49
6.55%
12.61
19.68%
15.21
22.49%
7.83
34.84%
12.31
22.98%
40.26
100.00% 20.80
77.30%
31.18
11.24%
21.89
0.00%
11.46%
14.86
100.00% 12.45
100.00% 12.86
100.00% 32.98
100.00% 23.87
100.00%
9.78
100.00% 14.68
100.00% 10.41
100.00% 118.38
16.42%
9.48
16.76%
20.10
9.21%
33.10
46.12%
10.41
8.26%
18.13
3.23%
9.68
16.74%
83.26%
16.44
39.26%
23.94
31.88%
22.25
28.86%
30.85
100.00%
8.31
0.09
0.42
0.77
0.22
0.45
0.00
0.23
0.36
0.79
0.12
0.04
0.39
0.17
0.11
0.09
2.10
0.23
0.05
0.17
0.70
3.25
1.58
0.43
0.67
0.87
0.62
0.16
2.98
2.50
1.75
3.48
0.91
4.21
8.25
5.15
2.18
0.03
6.92
2.95
3.85
1.77
2.25
2.04
3.30
1.47
4.20
1.86
2.43
2.04
1.37
0.99
1.01
1.75
2.56
4.43
3.68
2.45
2.02
3.26
3.60
2.75
2.21
1.54
1.64
2.23
2.25
1.93
2.01
2.87
2.63
2.47
4.67
3.35
3.62
2.03
5.60
3.21
2.67
1.15
2.84
2.00
1.85
3.04
5.63
2.26
1.89
2.47
1.67
9.53
4.94
2.47
1.45
4.23
2.70
6.63
14.34
9.54
5.31
3.75
10.23
14.08
26.38
10.88
53.53
11.36
4.63
51.21
18.21
4.97
38.99
15.77
35.39
11.57
10.92
22.39
14.97
-
7.09
4.46
4.35
6.16
5.45
3.95
5.07
5.15
3.63
4.21
3.92
3.49
6.21
5.94
1.02
39.48
11.46
12.96
1.73
1.64
19.30
4.18
5.23
4.66
21.72
5.32
10.60
14.56
3.65
4.21
39.57
15.53
5.57
1.78
9.49
4.36
4.79
185,456
100%
15.88
0.67
2.00
3.17
12.12
8.08
0.90
1.01
1.12
0.92
0.54
0.93
0.58
0.78
0.90
0.71
0.61
0.64
1.19
0.54
1.43
1.38
1.09
1.12
0.92
0.77
1.03
0.96
1.04
0.90
0.93
1.23
1.30
0.64
1.12
1.20
1.01
0.73
0.89
1.08
0.67
0.98
0.93
-2.94
14.68
-2.78
-0.43
-2.64
-5.03
-0.32
-10.90
-9.82
-3.96
-4.62
7.25
7.83
0.45
-13.64
0.26
-4.87
-4.10
-6.62
2.01
-10.53
3.03
-14.71
-10.05
25.42
8.29
-21.67
-8.58
-12.93
1.23
-3.59
1.33
-5.05
-11.99
-3.96
-2.70
-7.89
-2.47
47.03
-1.95
2.59
6.41
0.00
-0.87
7.87
1.81
1.97
-6.21
-6.77
-5.26
-0.37
13.63
46.74
9.37
-12.84
-1.52
-14.50
-7.88
-7.33
-8.58
-8.11
28.37
-5.75
-11.73
30.38
6.52
-7.83
-0.47
-11.79
16.24
-17.69
-16.12
-8.70
7.80
0.50
1.74
-4.58
-5.39
100.74
1.47
63.64
28.12
0.00
21.81
21.83
56.36
31.91
22.90
2.71
2.27
34.45
-0.57
53.41
4.15
16.33
0.52
83.17
41.85
43.07
72.58
24.09
105.17
123.08
6.09
62.85
69.55
0.00
34.81
47.23
127.13
29.41
8.02
43.17
48.73
27.79
34.48
14.51
26.40
138.60
24.77
0.00
26.79
0.00
20.28
65.54
81.66
24.00
75.57
26.25
2.60
37.48
27.73
79.66
63.91
60.31
0.26
176.10
24.37
162.78
77.21
65.85
163.17
225.00
20.80
89.43
90.29
58.01
48.95
126.97
244.25
0.00
-2.97
76.72
67.86
16.73
51.41
60.60
44.95
165.37
42.72
1 Month 3 Month 6 Month 12 Month
3.12
20.73
3.28
5.62
3.42
1.03
5.74
-4.84
-3.76
2.10
1.43
13.31
13.89
6.50
-7.58
6.32
1.18
1.95
-0.56
8.06
-4.47
9.09
-8.65
-4.00
31.48
14.35
-15.62
-2.53
-6.87
7.29
2.47
7.39
1.01
-5.93
2.10
3.36
-1.83
3.59
53.09
4.11
9.64
13.46
7.05
6.18
14.92
8.86
9.02
0.84
0.28
1.79
6.68
20.68
53.79
16.42
-5.80
5.53
-7.46
-0.84
-0.28
-1.53
-1.06
35.42
1.30
-4.69
37.43
13.57
-0.78
6.58
-4.74
23.28
-10.64
-9.07
-1.66
14.84
7.54
8.79
2.47
1.66
107.78
8.51
39.83
4.32
-23.80
-1.99
-1.97
32.56
8.11
-0.91
-21.09
-21.53
10.65
-24.37
29.61
-19.65
-7.48
-23.29
59.37
18.05
19.27
48.78
0.29
81.37
99.27
-17.71
39.04
45.75
-23.80
11.01
23.43
103.32
5.61
-15.78
19.37
24.93
3.99
10.68
-9.29
2.60
114.79
0.97
-39.33
-12.54
-39.33
-19.05
26.21
42.33
-15.33
36.24
-13.08
-36.73
-1.85
-11.60
40.33
24.57
20.98
-39.07
136.77
-14.96
123.45
37.88
26.52
123.84
185.67
-18.53
50.09
50.96
18.68
9.62
87.64
204.92
-39.33
-42.30
37.39
28.53
-22.60
12.08
21.27
5.62
126.03
3.39
Disclaimer: Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. Any and all ideas, opinions, forecasts, market analysis or market data, expressed or implied herein, are for informational purposes only
and should not be construed as trading recommendations to invest, trade, buy or sell securities and or speculate in any specific futures contract, option, or any other market. Any investments, trades, and or speculations made in light of the
ideas, opinions, and or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise. The market data contained herein is believed to be reliable, but has not been independently verified. Accordingly, such
data cannot be guaranteed as to reliability, accuracy, or completeness, and as such are subject to change without notice. In no event will ADIC or any of its employees be liable for any information contained herein.
* P/E, P/BV, P/Sales, P/CF are all the last closing price of the stock divided by the trailing 12 Months values (Based on availability).