Market Update th 13 July 2017 USE ALSI Close: 1,653.29 Previous: 1,653.99 (UP:8.19%YTD) - USD/UGX: 3,597.71 Previous: 3,597.46 (UP: 0.17%YTD) USE ALSI* Key Statistics: Market Synopsis: Turnover dropped to Ugx10.78Mn ($2,997) from Ugx346.64Mn ($96,357) Close 1,653.29 1D* % Change (0.04) yesterday. Stanbic Bank Uganda (USE:SBU) traded the highest number of MTD* % Change (1.63) shares with 107,779 shares moved to realise a turnover of Ugx2.94Mn. Its share YTD* % Change 8.19 price appreciated by 0.93 to close at Ugx27.25. dfcu (USE:DFCU) and New Vision Printing and Publishing Company Limited (USE:NVL) realised 52 Week Range 1,330.82 – 1,701.46 Volume 119,679 turnovers of Ugx4.93Mn and Ugx2.91Mn from 6,500 shares and 5,400 shares Turnover (ugx) 10.78Mn ($2,997) traded at Ugx759 and Ugx539 each respectively. The USE All Share Index PE 9.25 depreciated by 0.04 percent to close at 1,653.29 whereas the C8 increased by EPS 35.33 0.299 percent closing today’s trading session at 117.06. Dividend Yield 1.0% Headlines: Market Cap (ugx) 22,598.48Bn ($6,281.35Mn) Uganda clays set for bumper UNRA settlement: Uganda Clays Limited (UCL) is set to receive Sh4.5b for land that was compulsorily acquired by the USE ALSI*- USE All Share Index, 1D*- One Day, MTD*- Month to Date, YTD*- Year to Date Uganda National Roads Authority (UNRA) for the construction of the Entebbe- Source: Uganda Securities Exchange, Bloomberg Kampala Expressway. In addition to this, the company is set to make a further 2,000 windfall from last revenues from the clay under the acquired land. Speaking 1,950 USE ALSI INDEX - 12 months during the company annual general meeting at the Sheraton Kampala Hotel, 1,900 Mathias Nalyanya, the company secretary, revealed that Sh2.5b has already been remitted, while an additional Sh2.5b is expected. “UNRA has subjected our 1,850 claims for profit lost under the acquired land to a geological survey. Geologists 1,800 in the energy ministry are compiling a report which will then be forwarded to 1,750 UNRA. Other assessments will be made to determine the market value of products that could have been made from the clay,” Nalyanya said. Although 1,700 Uganda Clays had sued UNRA, both parties have been urged to amicably settle 1,650 the matter. Nalyanya sounded optimistic that an agreement could be reached by 1,600 consent of both parties. if successful, the expected windfall could provide much of the money required to complete the Uganda Clays Kamonkoli Branch. The 1,550 company is also soliciting funding proposals to automate the Kajjansi branch 1,500 which supplies the bulk of the company’s products, but is using outdated 1,450 technology acquired in the 1960s and 1970s, according to George Inholo, the 1,400 company’s managing director. Inholo revealed that the National Social Security Fund (NSSF) has agreed to cap interest on its loan, pending a conversation of 1,350 the same to equity. (Source: New Vision) 1,300 Museveni says all State loans must get his personal approval: Ugandan President Yoweri Museveni has written to the Speaker Rebecca Kadaga directing that all government loans must get his “personal approval” before they are tabled in Parliament. In the letter tabled in the House Wednesday, Mr Museveni also directed that 11 government loans that are before Parliament be rejected on Source: Uganda Securities Exchange grounds that they do not add value to the economy. Mr Museveni ordered that Crested 8 Price Snapshot: only 16 loan requests be approved, explaining that only infrastructural Close 52 Week Range YTD % Ch. development in the health and education sectors be funded by loans. Some of the loan requests the President directed be rejected include; a $200m loan for C8 117.06 114.10– 123.86 (0.43) the construction of the Kampala-Jinja Expressway, a $100m loan from Islamic BATU 30,000 30,000 – 30,000 0.00 Development Bank (IDB) for poverty reduction and a $200m loan for fiscal BOBU 108 105 – 153 (12.90) transfers and management. On the loan for the Kampala-Jinja Expressway, Mr DFCU 759 755 – 800 (1.42) Museveni said the money should be recovered from the road tolls while he stated NIC 12 10.5 – 12 0.00 that the loan from the ADB lacked clarity. “The President feels that we are over- NVL 539 539 – 555 (1.10) burdening the country by contracting so many loans, some of which do not add SBU 27.25 24 – 28 10.10 value to the country. He proposes that the loans should have his personal UCL 12 12 – 15 0.00 endorsement before they come to this House,” Ms Kadaga said. (Source: Business UMEM 428 400– 532 (12.65) Daily) *C8 is Crested 8 Local companies Index Money Market Outlook: The Ugandan shilling was stable today mainly due to tighter liquidity in the domestic money market, which usually makes it more Regional Counters: expensive for traders to buy dollars. Expected trading range; Ugx3,5Macro97.71 Indicators/3,607.71: ( Source: Reuters) Close 52 Week Range YTD % Ch. (%) Period NSE20 3,632.82 2,789.64– 3,688.46 14.02 Inflation (Yearly) 5.7 Ended June 2017 BRITAM (Kshs) 15.80 9.40 – 15.80 25.40 Central Bank Rate (CBR) 10.00 19/06/17 SAF (Kshs) 23.00 16.00 – 23.5 21.05 Bank Rate 15.00 19/06/17 KA (Kshs) 5.05 3.40 – 7.30 (12.93) 91-day T-Bill 10.28 11/07/17 NSE (Kshs) 16.75 11.00 – 19.85 14.73 182-day T-Bill 10.67 11/07/17 BRL (Rwf) 125 121– 170 (10.71) 364-day T-Bill 11.99 11/07/17 BOK (Rwf) 247 228 – 280 8.33 CTL (Rwf) 70 70 – 90 (22.22) Forex Close Prev. YTD % Ch. Sources: Crested Research, Uganda Securities Exchange, Nairobi Securities Exchange, GBP/UGX 4,637.71 4,620.58 (4.59) Rwanda Securities Exchange, Bank of Uganda, Bloomberg EUR/UGX 4,108.30 4,108.03 (7.97) CRESTEDCAPITAL RESEARCH CONTACT KEN/UGX 34.62 34.64 1.56 Impala House 1st Floor, Plot 13/15 Kimathi Avenue TZS/UGX 1.61 1.61 2.42 Hotline: +256 758 230900 RWF/UGX 4.45 4.43 0.00 @: [email protected], W: www.crestedcapital.com DISCLAIMER: The information contained herein is obtained from sources, which to the best of our knowledge are reliable. As such, we are not responsible or liable for any factual errors arising thereof. The opinions expressed herein are ours and are subject to change anytime without notice. .