TDF Promotes its Technology Products in USA and Japan
Published Monday, 28 May 2012 15:12 |
Amin Khairallah, chairman of the TDF, said the Fund to promote for its technology products of international companies in large countries such as USA and Japan by the end of 2012, so as to encourage investors to inject money in the Fund, supporting IT industry, adding that the Fund will ask the investors to inject money by the end of 2012.
TDF focused in 2011 on investing in e-commerce companies because the local and international markets of electronic commerce and marketing have been posting sustained growth as the world tends to take the easiest way to market products electronically, Khairallah said.
Khairallah added that the shareholders received dividends of about EGP 6 million of the Smart Cards Applications Company’s 2011 profit, and EFG Hermes (HRHO.CA), the Fund manager, distributed the dividends. Smart Cards Applications Company is one from the companies that post high profits.
Related newsThe Fund studies the position of five companies for injecting the required investments in 2012, Khairallah said, noting that TDF has only EGP 52.2 million in cash for 2012.
The Fund has invested EGP 134.2 million since 2008 and has commitments to invest EGP 13.6 million more in the upcoming period, Khairallah said, expecting the injection of about EGP 21 million in the companies the Fund cooperates with.
The Fund’s investors studies injecting more investments after IT companies succeeded, Khairallah said, but declined to name the body which plans to inject new investments by the end of 2012 or the beginning of 2013.
It is worth mentioning that TDF, which provides money for more mature companies, was established as a partnership fund between public and private sectors in 2004. Shareholders of the Company include CI Capital, Egypt Post, Telecom Egypt, Faisal Islamic Bank, Banque Misr, Misr Iran Bank, Misr Insurance Company and the Export Development Bank of Egypt.
EFG-Hermes Private Equity Company manages TDF and evaluates the available investment opportunities and Ideavelopers Company acts as the administrative consultant.
TDF injected investments with value of EGP 7.8 million in Dr.Bridge Company that provides technology services in medical care sector in Middle East and North Africa region.
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