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10 I Companies & Markets bne November 2020
The holding in question is Koc and the company in question is Koc's subsidiary Ford Otosan (FROTO).
Foreign investors' share in Koc Holding and its subsidiaries from January 2019 to September 18 2020 (by Ak Invest). Foreign market players have shown some interest in Ford Otosan and Arcelik recently.
In the same week, Sisecam group companies remained popular among foreigners.
When it comes to the price board, since the end-2019, aviation stocks (catering services provider DOCO, low-cost airline PGSUS, airport operator TAVHL) remain among the top sold stocks along with Tupras and banks (VAKBN, HALKB, GARAN).
Hospital chain Medical Park (MPARK) replaced Turkcell in the list of the top sold stocks after having its place taken by Turkcell for a week. Some pundits should explain what is going on in Turkcell.
Foreign investors' share in Sabanci Holding (SAHOL) and its
Holding company of Hungary’s top oligarch cruises through crisis with hefty profits as state contracts surge
Tamas Szilagyi in Budapest
The lockdown has hit the hotel branch of Budapest Stock Exchange-listed Opus Global, but state contracts in construction more than compensated for the decline, according to the earnings report of the flagship holding company owned by Hungary’s second richest man, Lorinc Meszaros, the childhood friend of Prime Minister Viktor Orban.
The holding consists of 40 companies from all sectors of the economy, from asset management, insurance, agriculture and industry to construction and tourism. Meszaros used to have a huge media portfolio, but he transferred it to the Central European Press and Media Foundation (KESMA) in 2018.
The communication highlighted that it is still not possible to fully assess and model the impact that the second wave of the coronavirus will have on the group's functioning.
The group's total operating income was HUF98.8bn (€273mn), down from HUF130bn in H1 2019. The company booked
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subsidiaries Akbank and electricity grids operator Enerjisa. Enerjisa seems an outlier when it comes to foreigners' interest.
Foreign investors heavily sold Turkish aviation stocks.
Foreign investors have shown some interest in brewer Anadolu Efes (AEFES). Retailer Migros (MGROS) seems to have reached its limits. Despite interest in retailers during the height of
the COVID-19 period, Yunus Kaya of Alnus Invest thinks that foreign investors sold hard discount chain BIM (BIMAS) since BIM launched a share buyback programme and provided a sale opportunity. Emlak Real Estate Investment Trust (EKGYO) was popular recently due to a home sales boom while petrochemicals company Petkim lost its foreign investors a long time ago.
The net asset value of the most popular Turkey exchange- traded fund (ETF), the Nasdaq-listed and USD-denominated iShares MSCI Turkey ETF (TUR), remained unchanged at $195mn between September 16 and September 25.
It stood at $380mn as of February 10.
Hungary’s second richest man Lorinc Meszaros and Prime Minister Viktor Orban at a football match.
after-tax profit of HUF2.6bn on continuing operations in the first half. Ebidta amounted to HUF17.7bn, thus nearly doubling from HUF9.3bn
The epidemic halved the revenue of the tourism segment to HUF7.2bn leading to a loss of HUF7.2bn. The company carried out a 50% downsizing at is hotel chain Hunguest Hotels, but has been awarded billions for renovation under a state financed accommodation development scheme.
Opus’ industrial segment generated HUF62bn in revenue
in the first six months, HUF4.8bn more than a year ago. Construction group Meszaros & Meszaros and R-Kord have won dozens of state contracts. Opus subsidy RM International is involved in the Sino-Hungarian consortium for the €2.1bn reconstruction and expansion of the Hungarian section of the Budapest-Belgrade rail line financed by Chinese-loans.