OTMT Tops EGX Volume of Trades, Tax Evasion Probes Week

Amid last week trading which witnessed Egyptian President Mohamed Morsi’s worrisome speech that the state is owed about EGP 100 billion by five EGX-listed firms, Orascom Telecom Media & Technology Holding (OTMT.CA) has maintained to become on the top ten active firms listed in the Egyptian Exchange (EGX).

OTMT’s volume of trades hit 205.8 million securities worth EGP 110 million.

President Morsi stated last Saturday during the October war victory speech that Egypt is owed about EGP 100 billion by five companies adding that the state is in talks with these entities to have its dues. The President clarified that some of these dues arose from financial irregularities or tax evasions.

Palm Hills Development (PHDC.CA)  has come second as its volume of trades amounted to 58.1 million securities worth EPG 152.4 million.

Orascom Telecom Holding (OTH) (ORTE.CA)has shown to be the third as its volume of trades hit 27.6 million securities worth EGP 97.1 million.

Fourthly, Citadel Capital (CCAP.CA) has recorded volume of trades reached 26.2 million securities worth EGP 105.1 million.

Fifthly, Talaat Moustafa Group –TMG (TMGH.CA) has had volume of trades reached 24.3 million securities worth EGP 114.3 million.

Sixthly, Amer Group Holding (AMER.CA)has had volume of trades hit 23.6 million securities worth EGP 17.1 million.

Upper Egypt General Contracting (UEGC.CA) has come seventh having volume of trades reached 21.3 million securities worth EGP 31.4 million.

Egyptian for Tourism Resorts (EGTS.CA) has ranked eighth as its volume of trades amounted to 16.9 million securities worth EGP 19.8 million.

Ninthly, Arab Investment and Development (formerly AIC Contracting) (AIND.CA) has had volume of trades hit 16.8 million securities worth EGP 8.8 million.

At the bottom of the list, EFG-Hermes Holding (HRHO.CA) has come tenth recording a volume of trades reached 14.5 million securities worth EGP 166.6 million.