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South Cairo and Giza Mills offers tender to insure fixed assets

South Cairo and Giza Mills offers tender to insure fixed assets

ArabFinance: South Cairo and Giza Mills and Bakeries (SCFM) offered a public tender for property and liability insurance in order to insure its fixed and current assets in the fiscal year 2021/2022, according to Amwal Alghad.

The total value to cover South Cairo and Giza Mills company's assets is amounting to EGP 340 million.

The required policy will insure the company against all risks for one year.

South Cairo and Giza Mills reported a net loss of EGP 4.458 million in February 2021

The listed company reported a 17% Year on Year increase in its net loss in the second half of 2020, incurring EGP 22.57 million.

South Cairo and Giza Mills, a subsidiary of the Holding Company for Food Industries, is an Egypt-based joint-stock milling company engaged in the processing, trading, importing and exporting, packaging, warehousing, and distributing grains and its related products. Its product portfolio includes flour, pasta, bakery products, and fodder.

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