30
L;Ult a1J,a.ll lcan;.tt ASJ,.I' ( r.r.d ) 4*ij"ll Ul.cJ| ijill clp ir.+.ll eJuJl dl$ll t . \ A/. q/f. sF

areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

  • Upload
    others

  • View
    2

  • Download
    0

Embed Size (px)

Citation preview

Page 1: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

L;Ult a1J,a.ll lcan;.tt ASJ,.I'

( r.r.d )4*ij"ll Ul.cJ| ijill clp ir.+.ll eJuJl dl$ll

t . \ A/. q/f. sF

Page 2: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA
Page 3: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;ESAFWAT NOUR EL.DINM A N A G E M E N T C O N S U LTA N T

sLell $dl {F.J ar. dirljl fjlt t 4 slail rli sle g}L)l 6r aSO fs s.Layl $rll r'r.'tL

":tt $.alt r3&Jl liK ge Csrrlt .sb eil+ 4JJlAJl &JiJl i-llrl errtil r!3 crlr$l iia i..* Jiil

s/ e+t &J.i,,Jo ll*r.gcll ir.afl {fii $ drtiilLJ ... ttt|'*Jl fhll .qc c,f l'a.hl d4j+$ #t+ll l.f f p.,r.it+.il| f+3 ii"-a! cal.a.a !.$ \loA\'VlY &lt l..f/\l/l\

e+l is..;d g,c yL.all (JSlJl dJL* Jt!.Jt rie ip iL:,""tt cr$.r.r.;'tl llr3J 4S+ O$rL &-*1

IsJ"& C|,aJ Y . . v/r t/r. ; ds!.'ojtl lsSf gfuYt ,.;rjl .ltlJl sJ" ,-r.3n,,"d!3

4;.c!U OJJ.33.,,.olf ls'.1,.., p-l+ ir-.!ll d.. isjll Ol+ CrJl g t ia;:,f! JUii*,Dll OsJaii.,.ojl

l. . t pb j)Li totl' -r ,f ''tS.;..tt iJrJHJl o.,,aii frP.l f. $J liA ... ,.etttnll Jt ll*yb

.e+l is;d sle &r!*411 ,:l'r.i, jr;ull i+ &t+

:oJEll .5n:llsJe ,rps ..14l,JI Cr iSJ"&Jl dg',al gh * qe.$ .Ur.l .\'

irilt .Ivr3l-Li. dt+Jb C!'" u.lpL! IiKl| fSJyiJt gnl ,* €&3 .rl..l r'.c,U+-Jt +"s:J l}s.c l,e+!, erll eF,J.i ISr.i.JS

C+lijl isJ,,i gtt*l i1d*r{Jt+ ,J.l,ari1A)l++ l.,.li db*,* ga ris r.r-.s iH+ ,/

gtgtt rgilJdl 'r:ttl ,y tfij sle 4Jr..J.i '"t - siJb 6.i'tdl -iLc3i,*>U s{Fll

o.i kJ$*b *iJl ,r& i$illt+ p,..cjl grttrll e+J| lF ll ,erl 93ll .jntl (iJFll

firi-LJl $dl Li!.bi) r.t. ljslt F*ep.,IsJdll d,"6t Y.l\/r/Yi

Y A f.., +3oJl is.,y:'Jt c'"t31 tcs r l+&ll .tbJl ,,.t' ru J."J (r . . A disrloVt'\

Lu"lt 6t/tt t r *l gpslre o.& d eJb C+li$ tsls.:$lt r.il . t'l ii*l

'€J'e''Jl gttrJl 'r:ttl 'ui lrLa:l)ll i-S"ll pLl .f^ OJpt{$ f$ tr'.

.cx!s-.rll f+-/+t-,ll d$ Cr +Js ,JsL,,r It l+lpr,r ,3lBll JJil d5L. '/

c.KE4. ,,Je ig$. &,,alt tin uf isJ-J.!l 4$J c,Sl J.j fjlJl lEll Li fjtt .e3Jl -;*!l

;sjll

o isYisi,.a

Head quarter : Cairo - 95 Omar lbn El khattab St.,Heliopolis i++ll .,* - -4iJl gr JE ci 1o ; "-.+:jl -f-.;*ll

Tel.i(2O2)2691O72 FX:1202)2691OO71 (r.l)Y11)..v1;u,Sti (Y.Y)Y11l..vl;gai$Branch:Cairo-421 Ramsisst.,BorgBuilding,Abbassya q-lull -g,Ct 6.rL- - rr-*-) tl\ -iltill :tJ!Tel.:(2O2J248a3337 Fu:{2O2)26844355 (Y.r)ll^tlfoo:d"Sl.a (l.Y)YiArrrlY;u:11:

Website:w.saflruatmc.com Email:[email protected] / [email protected]

Page 4: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

IIREANDA t$rvcl;i-r..rf .':'.': ..rjJl ;r rin ;,-,:Jl i ti ;jgiESAFWAT NOUR EL.DINM A N A G E M E N T C O N S U LTA N T

(i4Ut I.;i$Jl6Jhyt drLiJ|3l) c,-{s.",-'t .l.;j;, OJ+l" olV 3sj {J3l$Jl clgayl 0l,233 .t

{JtJ)l dr$Jli-c) ,-r.l-,s ,-c-,.r,c ,'. -'r 4-A O$+L 1 Y f Jl.lj LllJl 6!a}l dlj.crii ,J+li"lL.f

I rrr<. lirr-. crlljls.cjl oia ;san f.l .js Li|il.ujl 6Jl.rYl i-rj,3s!. f-tilfuJ (i4t*,lt Litirlll

r. . r/t/\ . g..lL! Lt'tt l1t.iu l{r!! d qrJe is.yiJl fhle c,l+Lsr- ^it €j.$.ll iLe+le

d+lul ty4'Jl Crc ii$,.Jt i.j. -ll-Jl .JlE El r!3 ..t0'r^ - ep d+$ eEill3 I . . 1/\ Y/\ . s

- :o-.lr U tiJ.Brll.3 irLi$ tlA sFJ 4$1 o$HLl I ti.jc,-083.!rii 4+jr rr qL I A.o &l++ cltlJlS.o g," 6tllta Lhll dlFil Lti c-.ti -f.o;3 .l.|.q *cr 6r+ is.;.,!t cr-tfu ,1,{# d+lJ i-sr.Jl crJl.bli crtiJlioJl orl &"sni+

.fb!lr.xl+.c l..liij tir3 dll.lg d,lill3lJl

H i,FJl is-,,.f &.+.s+ o.tiJl clrll I .ras,a.+,Jl+l t' r& AsJ^iJl '"'t ' Ls -.fir} frql" V l.ej^,l

i,q$-\.1 A-L...r ,q., 'r.,. .,,al3tl el.$l ..;lli oag.ai+,llql t' crJe I+j.Jl '',t ' LS -

.d-F:tt s* | +-d sJ" ds!..4i\trgr! chyrl,.. tt^, Lrt-ai6Yt i-S..\ 6t{.:*,ll . to Fi,t.gcrJl tglt c,-tii

t&g+ Og+Lorv qrrl clUJLi.{ +tsi_,rh QL-J| Lilir'rtt ftrYt f{fl t€d+ aug.v. .

clJls.hii f e rrr Os+ t . e+.c * ,-*r;,rifil J*aliJJ l+l+lL &rrl is.1liJl c*l! 163

.i$iJ iri"JiEJl fl{l g.o fri,.Jt siJj6$ , .ir tt Uis

glFll s& r|&.)b gl*ill lia et' {+J-Jt ti:ts1e Qr.Jl 6.r.,a1Yl lru L.r.: cb+! a.i 4,b, s

,",itt iHsJ 4-Jl 6r.JYl+ i#Lb! fls.l h 3r!,all St+"tU Lbll cjb"ll ltS j! t6; yLall

.1.3'o €JtSlJl

ef,elill p^lr de s* G l.e+b AULJI +U:ll oeJaLa lP$ olai r!51 gllslAl rs::,t .o

- : 4JJuJltl1.l| d,l9!* .,ie JL-3-yl ',"'!.ra igj.L3 isJ.iJl &+ a-dtill

\ 1rA / I lAA di!&JliJ-

f,". * C't114- llAA drbilJl Oe !.$ 0$"J. lfJsj &li+',"'b''tl e-&a" cJ.{iJl'L" s.JH

,/oUl *!* j lsglt c*t! e+. aslU slr n,lryl rutl pt l tet+ LU"l l.$.'tll qe,teJl

iF +,ri1 OJ+!. 'l t.A rtr*+ 4-s..j,q iS=yill c-G ;JallJl+ JL3i*yt ,;.i!,a L-JJ.L Cn d|i3} &$J|;L".,;C.i.hL.,6i .llr."3 q5 Os+L 1.o .n-il l"orlr-, .1|.. elrir Lii+ L$" &ns s-.JF:Jl.lll..i$ &i

o ,'r.lt'{rira

Head ouarter: Cairo - 95 Omar lbn El khattab St.,Hdiopolis i+r+Jl }- - ciJ.Jl ,y J@ ci 10 : G-,,"3i1 SJAll1el.:(2O2)2691O72 Fe:(202)2691 0071 (r.!)r111..v1;g*su (Y.r)r11\..YY:OriJjBranch : Cairo - 421 Ramsis St., Borg Building, Abbassya ::-t-ll - eJCl 6-.rL- - q.r-*.r 1l \ - iJalill :eJire*eo2)24943337 Fu:(2O2)26844355 (l'\) llAltroo:uaSE (l .r) Yt,i:rrrv;,'-Al:

Website:M.safwatmc.com Email: [email protected] / [email protected]

Page 5: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

EREANDA

cf 4l OtrlJ {SJ"'iJl crle ctlju+r !i .iqb gJ ,}li" l.l. cxlLc ,:," it+ +5 ;li Y. . LQJ$

o3l ilc (,.!'.J*ijl lt;t ,ji-i crtriL is.yilt c.oti ,'r^) l#i4 Is$Jl g. LU.tt +5t,:ttt 4toJl

lsaSiJl U,bJiilJ i.Lyl gfr;lf Cr't .ai c,Ufu 41n orlr-r p.r t S ciUg)t til es; ,r cr!9:,*lt

. ( L$"Jl 4;rl.ifJ| .gtcrJlr iiiJ -*" il$ d,l^]p i{^!e.l4J.+ a9J" \ A.V C+.ajJ fi.5 .3;t-lt

gltl, (.1t-il-ll q$F) L-y^"tt ,Jj. !*:Jl Ll,a+ I',gitlt {.4ut 6.o .3ti:! 49ilt .",t ul

&J.rt \r.rr L.J,I:J| cil; $3 t..r (JJl \cll 6bill$ 6 4,"y:Jll gu:lt rteY r.rv/.v/Yr" i,JL drtill3.c * Cp rb3Jl {Jls! g. ( l.L+.lt gr.Jf Cr't -r gt tE lslrU c*ri erF ) 4f+

dj+ HL"r {ya.,r ip fuJil" # ri.J " 4.li. OsrJ.c olV.o liltjl iL.lJl i;iltl.rtl 6-lhYl crtilLi'.

11 J:-ii crliJli. elca rlar6-r! l-,o. 3tt o3a iF rj+ c,f 4lr c-E si{J iFhJl ibJ d! C*.lt ,-lt

tYf JSj o-;.r33 dil,ilLi.cll rlc3.rfl; rg rri; OrruL lA.o Snl drlilli.o ebS j!,b 4J+ a3$. sr.J*hjl q,ii +rr:s cr€JlJ L.s.t tl {S+ irtJ"

l.l"i..tt crl-A$iJYlef l;*tii; Ui k+b tjl&ll sj. !*A$ oz"a:'a iter6lJ.r.: .l,ri U:ti $es.JC*t eS;d

ii'l . l tr;r3 ta$ Y. \A/.1/r. si +;:a Os-$. Y.lYl &-+ I-.iltUtir-a;ll 0^il1 .1

* Li;,.aSl ci tA$le g,.c 6rl,ti-,DlJ d3-iJl r-:i.1lr;r3 rLii! cru! e>t*$ ir ll-.asJl

6r+ &lrrs g; rgis 4+Ie &cj t-t't-t'+L +t*J g# LbJ c,Si{i*,y1, i,:q,a ei,rrt ' o

+lrt f"r ds lia isr*lt ,Jb-i#t+ O^; f+$Jl &+ Ju3l*,h Isldll fslis !b ..q|+.i

44JldlJ gx! ei.o rlsit pLijl d eJu.iJl * dr f+$ o3a sgc uP, i, tu i-;b l*,|+-

.islJl c{JL^tr,,,t ge j,aii. .ir."-j f.+.sl fd +j?.: L. ejl .e ill yitt ++lstt

Llp rs...g Os.r r0..:r titl t ov3.: A+. Y. t A/.1/r.*p L.iJl 1+kj itiB" f$Jl +l-.,' .i{-E.V

,Sya^lt !-,t-"tt -,rl+ Cr 1t t) ilfs gJl drt,.t!^l. Cf drl Ui o.,ai-.Jl pps3 ,JsJ L.-,!S!

.rA J..r

o a.rtki.a

t$N/cleJ..Jf .':1': -.'.Ul ;#a.U .Frll 1 # ;ilsESAFWAT NOUR EL.DINMANAG E III E N T C O N S U LTANT

Head quarter: Cairo - 95 Omar lbn El khattab St.,Heliopo,is

Iel.: l2o2)269 1072 Fu:(2O2\2691 Oo71

Branch : Cato - 421 Ramsis St., Borg Building, Abbassya

Iel: (2O2) 24A4 3337 Fu: (2O2\ 2684 4355

Website: M.safwatmc.com

:++Jl _.r-. -,:rll.Jl ui J& ui 1o ; "*,,,'t_jl

$_Jnfl

(r.Y)Yl1\..v1 ;axsu (r.r)\11\..VY:O.+l3+-lrll - e :+il iJL@ - J*) lY \ - ;'raWl :tJ

(t.r) t1A1ttoo :dasl-a (r.r) It,itfrfv;it:il:

Page 6: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

IREANDAIitr:r,e GUji*Yl

I rt ?l l-c U^t- dl f; d ts"ll u.al s*,is drLJ*J Cr +Je -3. *LqJ rJst di-l- el:'.ruLJ

sJl...Jl jsll O.c LkJl L{+b+ e+.+ C Cs;s.e fit+ -,,.nj Y L;sJt {r.r^ll ic$-ll ibf$ gl rr'h.i

tr.,,iJl Clc lSil gUls3 tallri ge3 l. 'lA :+.c3+-, f . .ri 4Ul&Jl {U.a..Jl {ca";.tt ,sJ-,J e"i.Jl

t$tvcl;.rt -'l't..'.Ul ;Fr!,r'diJl !# L+;ESAFWAT NOUR EL.DINMANAGEMENT CONSULTANT

.Lrra":t i+-t .lt gtr.".J E& g....1t:ll dlJi uf 4*€iirJl ..j#il Hal4L,".Jl qtlr

e"JJl Jtt,"Ji,zpi) Ft 4tt"tr QQU n usr r+sl J?-'

g aAoT 7 r#

<.O iJ^O4-rnra

H€d quartor:Cajro - 95 Omar lbn El khattab St.,Heliopolis

Iel.i (2O2\ 269 1072 Fu: (202) 2691 OO71

Branch : Cairo - 421 Ramsis St., Borg Building, Abbassya

Iel: (2O2\ 24A4 3337 Fe: (2O2\ 2684 4355

;++ll -r* - r;UiJl gf Je cJi 1o ; "*"rt_.!l

-.1S;*ll

(Y.r) Y1r\..v\ ;u"su (r.l) Y1l\..vr;Orirl:i-L-ll - - Jl 6 l@ -. !,.r* , lY \ -; alill '" i

(r.,r) rlArlroo :dsl! (r.r) ltrtrrrv;6.igl:Email: [email protected] / [email protected]

Page 7: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

MHt. t..J" L-;$'Jl a{'''-'Jl aeJ''-*JlRed Esrme Eqlprirur C"onsonriuil s'A'E

c)tr.r.:: tlA1 aiJ YY' Cdtnl pt<-!a':U

::::1ls!.:'=tii\::i u.:::::sl= r::,:r

+!rlr:nl G J uJl

, . ll: ili("fL.]ti ) a.ltill fuall

LJtie di!ti!,*l

1At I oAt

f.{ov\t111o'\\ol

t.1tlvolVol€llo

1.olo1tI ootVl. o

lt\I

eltl.l!.ll Jrtlpu gu:! O32!

fE -.;;t CEjl OJ-ji.

d.jl i*,-g i.Ju c,!t ,3i*!

( upu-t! ) Oit a+t ;rEJb tr*rai+t J1 Li ;rttl 8;1"t!1 ':Hli'

,ii.r^ a3)c .:13 -i!Li( ..+u.ltr ) c+,slltt r)-o

.,U1,,r1 J ;j,jilt 4+iill

lVfoo,y\o 1{1Vl1f€1 dJ,-!l JI"+!

l.tt1l€Yinrii lo

Lsl^ll .!r!rgjr.tJl dt .ll cr!

nlrL[n:. ]1

;1.r'Ct-,r1

vrtiqil, ru!

vAr€11

4lol$Jl G nt l',:lYl

il-.jdll diJl 4+JFb

1l\toltr{ .1\ YAo

tllA€\1\1

\ rvlrvt o

r.1rlv.\l1ooo1

I t lqvt.I l1{1Vl

#.ri l::r-

Y1

YI

tr

d,l$"ll crt"liljl;;i:i-.ll ;rdJyb OJjllJl

L-g.;. nl-l'!'l!

4foLll Li-;:t\ iJlr)l d,tilli., U;,.^tl ,rl,t r* dLi;

obr-jJ,:l! Jill€til 6t4'a-

i;ut ll lili. rlp!al'.r" Cbi

2*

;/

-'a v'',ii,r'(aa! os,. ) }:,1i]]lIU

#;lVloo.y\o 1{qvl1ft1 dtLlp)tJ aJ$.ll dJi- &r"+^

irl$l ,.r*l+r .r"U,

(+y. y) rv1l yyqr - rrrwqo,r.; o.6tl rv1lvrvl - rvllwyo - rY1.1oYY : ili$ ;i*rJl - ('l.r.ll - i'iglllqa -.rrt'$ 'rl'Jl eJt' !i YY

22 B At Sad at Aali strsd - Fini Square - Dokki - Giza Tel.: (+2t2) 3?61?975 ' 37606t32 - 37617370 Fu: 37612393 '$377958

www.areh€g.com

Page 8: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiHt.t..J" ir-;E Jl L-J'-,-.J| aqJ'.44J1

Ren[ Esrnre Eqyprhn C,onsoriuxl s.A.E

cl )tJ.!:; \ \Aq Li-J Yr. ,',sbJl OtS-: a*:t-;

6l^*

{rrf'11} ai.'Y d,tji cFi: 1l-.3^ alr:+ CliJl

(rrr i r y) it*:r,e {\ to!ri1} .Ll-,.iill si;llS:

(v1 1 i^r)

(Y 1 1 6 " . )

{!r+ir}

{1i*cl

l\ 'otil

{11-,1y1}

{Ytvs. 'l

trf6'.)

,.Jull sULJi.*Yl $!e

L"';urt !o3i rlc

{eJji",3lllJE1

t{ji,,:Jill sfii! sl.,a.air

4l"Jglb LJIrJl gi'-J^ll

!.,11r!1 csl+. pt ' 'i ,:GIS" ., oJ+

ol$16:*13 olS)tal

is:i(:liJ@J ', :iJl4

(q,Y11) iI{,1rr}

: 4ji i.i-riJtrll JAJI l'g.,;,a

tY\.otl Y\Y11ot 6;F'ill gt.li ,rt a

(+Y. Y) ynl Yf lY - llYvYlo^.: s6.l t, lYfYl - rvllYrYo - rv'l'1orY : irl;r$ ;j.r+Jt -.r3.tJl - L;.&31*ae - /rll .t-,!t g.)t & r1 YY

22 B Al Sad alAdi Stroet - Fini Square - 00kki - Giza Tel.: (+202) 37617375 - 37600532 - 37617376 Fu: 3761893 '$3f958www.areh€g.com

JF+4a)iy?qyl

6JiiJl oai: ,3bri..L!-3i sljrrj gt.-,11

: f6l

\ dr{Fnr*r I 4*

.d*Jt-4Jti;l1'!'i

Page 9: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiHf.f.d \JUrJl b-,-Jl aeJ'.*JlRcd Esrme Eqygrhn C,srsonrium s.A.E

.ri!-u;y ll^t:;..r Yr. 6;Utt atS-:a-:U

JiYl &ul JiJl

4ltr+Yl olJLJl r -:Jl Oo :sjEil il^Jl 6JJi

C*ll 6tjjl U- LJI 6lJLij-Yl

6:iJt sssll egLi:

luL-ll;iJl ttlJJr .l;j rJ fuJlrs)l ( Jil"ajl )

(+Y.Y) fV1l YY\l - Y?lVv1oll,: p.SltfYllYt'Vl - fVllYl'Vo - rY1'10YY: irri.& :Xqirl -riJl -,r-.i.4;l,q.r-ltrll .t-,ll EzLi v YY

ng A|Sad alAali Slresl - Fini Square - Dokki - Giza Tel.: (+202) 37617375 - 37606532 - 87617376 Fu: 37012393 - 33377958

www.aroh€g.com

6y4i1qj!2Q\l

iL.AjI ) ZL )YI

\ aO;Fa+' t r'*'-;''n*f**

a-tj;c'Jt i;lrY t '

Page 10: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiHl. l-.J. L--lbrJl L-J,-,:*J| aCJ,.=JlRed Esrnn Eqlprinn C,or,rsonrius s.A.E

ai!r;: l1A1 ::..r Yr. i$bJl atS-ia-:U

Y. \ A / . t / l. ; i.d:Lll 4+lt ll tJlill 4c' ir--:t' ('yar"'^ll dJi- cJ ',;.'riiJl LIB

y . r v /. 1/ r . uf 4i{:i"ll ailt/ll Lriill

\OIViVVI

{1iYt1,\f'l

. YO1VTVV1

. (\-r!il.\Y)

lvv. AAA (:'v\r. A^A)

\,\v/,i/Y. c.i;-?!Jl d,JlJl 6Jiill eJ*rL-

+'iJl CLJYI g^ aiL-)lr r--Jl

r. \ r itc CL.j ,:"% c - jJ)lill -.tF )t e"$

ct* e;i1 e.yt pl!;ll Y , l A / . cl r, uf 4dj"ll ,*ll.Jl Uiill

k t. t;

tq\Atto1'\1\toAtov

v1111.1 Yt111.1 I . \ A/ . 1/ r. g.i 4r€ilJl 4:llJl 6J;ill eJ *rL-

;l-.,Jl CLJ,YI rF aiL:Yb i. ^rll

(\'\Yr\\') -!tr )l e.s: Y , \ v i1c ,r'r\ 6% c - iltill *lF-)t e"$

.' ^$t

i;". , ..n/ ./, t

(+y. y) rv.ll yrll - rrYWloA": e.du fvltYrvl - rvllYTvo - rY1.lorY: i8;*b !!.+.ll - oiil -.r!r3la9 - lLll .r*ll g.)t! qr YY

22 3 AlSad alAali Streot. Fini {uare - Dokki - Giza Tel.: (+202}37617375 - 37606532 - 37617370 Fu:3761893'333"958www.areheg.com

[ret *:**o'-t*"%e"-

j;l:l t

Page 11: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiHt. t.d i-pH*ll ar-J',-.Jl aeJrA*.JlRenl Esrnre Eqlgrhn C,orrsomius s.A.E

c!r;l tl^q::..t Yt. ClJJt;Jt at<-!a,;U

*: - + j4j=+

YlrvYc:. li,fvirc

J.i,Xilt ila.l,ji .'. Liijll o|i.grSl

, l-rll .-1.-a , \,! , \iil . -6L-:6L e-.i

ii,l3jl &-Yl n\s).dr-b -ls\liftiJl -blil-)l 6ls)ki-b nls)tAl

kr. u+rJi *-{31 sL*:-

\1t1\\1

(v,1.f.tv)(Y{,Y11ct}

( I ritY t ! . A)

(i^YV^rx)

{r1YY1,i}{,\1sA''i

,

'1

tlIT,l1

i,Jtie nlLin-l gl ( ;rLrJi ) L:iJl

ili eEi) Or;" Gl ( 6Jtjl ) FillJ'.!l t.r- a:Jl- nu^i J j ( ;rl9Jt ) ,.i]jt

crjnyl ij,iJl 6sJVb Or+ll ; ( 6rul ) LFiJI

La:al drb e)-Jl ; ( 6rUJl ) udllii.rJl 5!oyb OJiJlJl ; (cFi'li) 6rl'Jl

i- * it^lnll : / -ill\ ::L Jl

cLleill julr *s (o-ilt) ;r!Jl

, "l"Lll l,l* ,lnll _i / .-4ll\ 5iL'Jl

al'6" -1,,i i f, -;ll | 6rLJl

( an'! 6lru ) L: .;''l :il:,i j (LFill ) 6rl,Jl

(r.rvi ')

rL{::s!l i!"}.jl .'F Lraill otiir:ll

418 &-l c!.i:J sl.yirai.E,l*i unl;.r-

Jj{!l a.L.$l i- Llr]rl sulill

{"' '"'"t t t"i

lrY1.ioaul "D|'

t+<= *.i l"r 4:fi1 ; J.illl

6rJ1 g}jl l{ ^<- *s Lj arrirll

;r"tt *t tz-S' . : l". A,riill

{*Y. Y) Yv1l lr\l - frrvYlo^.: p.6llfv1lvtY1 - rv.tlwYo - lY.t.lolY: &${b i}tiljt - rJl * d.&Al.r*. - ltrll .r.-tlg,)L! r,r yt22 8 Al Sad alAali Sfeet - Fini Square'Dokki - Giza Tel.: $A2137617315 - 37606532 - 37617370 Fax 37612393 - $31958

www.areheg.@m

aaa2-i,e. jlatlYt

J;l:n:f t

Page 12: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

KHa.a.Li a+JUrJl "*,, . Jl ac'3r.*JlllvRrn[ Esrnre Eqlprinn Coarsonium s.A.E

nr:)|l.u:l !'\ l L.iJ YY. igjt;Jl at<-!q'.' U

{t^+^tt QJU| /lg[ l- :^lt ctlslQfli 4r,,'LLll cll^,'l/*'llf,lA/.q/f,rj

: kflt ap;+itJrtJ+ f g,q " !-,;..a-o 4-at-..* AsJ*l, " I l-tLiell a-peelli-J"+Jl@\ 1Vt i.;.J tr #JOJ.t.3Jq-;.rt,all iSll d!tj^ll3c'.,r?.Ylj,"dJdl d'.ll Jl-ii*i etJr+ \ 141

t qqv ii,t I t'tOgrr-illiJ,ruJl3li*ett1a:rjY.g \ lAq i:-,t tf . ftOetill-41r.^f ,p:lt3v i \ o 1 ft ,;,-"i ,g,,,f-s,3Jl di+*JL+ i.l+.,,l 4s-ir-l,ll ,

dr*Ogfisl{.ar'..*lf suJt&ll OrJ'if-6) \qA\ ij-J lo1t'-,rgjiLill-ptsryryOisyills. fi,€i)l+$J \ 11Y lil r o p,,r dt Jl crl-t

AREHA..^, ;# ;if, -Lfi IC,#' ff ''iilir i.r.g r. .r&*Ji^tr ciJi carr.,*lt o^ 4*is* 8.rr3 r . . ,;fl:*f, fg'r**f' .U.+..-l 1.1,.a. -,1t.t3 o)Lr.oJt3 *\.|;$tS clgly: l.;li dq. iJ" t€-^il; L"t !-,Jnl crJ3..,-all

-u..il esll ls:rj'll j-l+; l-s A.:XJI 6-16J1 t^+lj*:ll'tlij '.ltrt gI dlJ33 Yp I Y . 6 \;ill i-U.^.1

. lri*i:rr1 a:s:y: O3.rtill fts.V tl,i3 *t.r..dt

. I 1q Y ij-J q o dt Or6ll rt5.V tttt^ .,.l.rgxilt ;p'Ult-hl,.l3 o

. i^" !-ljl g-'sllg olc3;d"rJl3.3ltiiJl el*lj! .. Jrilf Cl,al3l q4:t L3.cl-di{ets.4r.J-ll drY3t3'Jl.Ll*ii lJjl;rr .

cblJ Cl b*eg c,tsJd,ll g1J.. -Cf iF 4-. -, ,eq a-;U: Ji A-!-. tel OJs. Oll.llt i-n+.1

s jJ+r Ls 6;till + gi -t-. ,) w* d$sJ rF r:bi .g cl 3i gt-cL I'e*,l Yt"ei

4+e$ ri!,rg^._, a-s.r3r ds-y i+.$r1r r"e+ r$irrr ri *;Jl 3i *l'lt*,,I "T$ff*r,:l!-full3 Jla.all,1t-.lt g*i-p Lgpa;.+ Og*f. t . . IJlo 4.t,-,4i:nll 45,*lJl .Jr. o.it &l*

l4Jl4*r+ f . i;^-,ia-$1pa*,,OJJ^A t+iS.^6;',z.14;.,r;.OJJ|A' e+'{

k]t",..! Uoo/oo. ,y.5i l.,r-,"i.,r a{,,"i,11 k+ PL.l tJl aS$fl A".a^ll 4t ll ibrll d,.,'::i

g& U"ilt iSJ.tll Ogsp o/6o , 4,o k+ araL,*ll 4$ Jn Cl ti'! i'lb t(ltc 6tL:*r l'4J3

i'is4ll qlul dt rjl+ k-.brl i gill otsy:Jl ot# + L^lil . 4slill ctul eb 6rLJ-Jl

4..Alr""ll 4s,i

%11 c9;lirJl Jl"ii-,Yb a+"XU g.9Jd:r,.,,rll

(+Y. Y)rv1t YY{Y - lflvYqo,\.: ojtlrY1tVYYl - rv.tlY!'Yo - fY.l.lolY: irt{b tjHq/l -{r3.rJl -";$Ohc. *llrll .r-.llg;L! u YY

228 AlsadalAalislreot-FiniSuue-Dokki-GizaTel.:(*202)37617375-3?606532-37617376 Fu:37612393-933?95Swww.areheg.om

{u*:t t4;e"ry ' o*.p"*u"-

Y' .s/U-+lr rzr': /' -."'

Page 13: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

KHi$.,1s4.l1 gt*"tr*.tll tAi - Y

fut^lt ,.itr,Llt jt'lg! r'"^,,,i I - r

,'*lloillo arrarl' Jl rltr-olt-r al$Yl .l

.L-JtJl L_J'l .lt Clrljb C#liill oS '3laJr,,.^ff

a;-,tr^!l ;gJl'-d l4L 4JUl p:!ei.ll rll'|! I4J A3.s $eJ i-iJti.i L-*pl !Jt- dlj, Jfi C- Arri^ll ;.rl*,,tr^ll u*..Vb et*,11-.tl

"*.4: gS! i

.r#iilt ji +o:t clli Cp CtaiYI f+ JJi-

cyl+ill cp,i .+

e+ll a.-r:.ll i+t-ll cr!tnii,*)l a-;i:l +ts"tt i+i{Ell i-ilsill ,rL*i "S 4+ll-ll ;lgill os!

.Jlt./liltj CbYt cJ>r- cr AlrLJl i4llilti a.!Lo:i*Y!9 .9usr'*Yl gpU u+ l.d+gii:^ll o.!t"li-'Y!9

el;.r-ii1j s--iill fsll fl.rri*l i.;hYl6," L;r,a.rlt4+-L^ll-,;4;t-uJ tj'eJ 4+lt llilgljl .rl.rl','lLr,gr:",1,",ti*X.isJL ep fu$', i"Jjl" a>l&l*t !.lJli;aill 13; + + 1l5,it"t'-tr"Jl;&rg, oul;iJyt3,Jg>tl4*J:iJll"tstr, crrills.ai.,ill#Jl d*rsl eF u"t*Ylotil.;iY-13 drl.;4.t33J1

.crl.;.ri6lt UlJ3 4c a+Litl edEill ' it'ii'i jlJ llA cr;Al '.;llr.a.o 4,c 1*l 'f

-l3Sl

.L"-pl i-i,.a,.r t34 i3l":"tt dlGlJilylJ drl;r3'i!l L+l-x iJsl pi;

.-'11.ri3.tlJ*;lli t{# i!,rilliJ:illcp A.'^,,1r^ll c!l}$iJlC J'!"lll+ dlJSeYl fll

: .tlt*Yl c$sj Y -Y: ,J; L cJ"l*,,i cJe 4+ dlJieYl p-"s {.eqlt ol.lrJtll ll;Yl .!3si*

&, adJ@s ' t*-P***u"

V," rr ^{t -i.l:Yl .

t

^J4iill r v,*.,rl .c,t{r+

i+Ell diL(_jej,lb i.artill iS-J,,j,lJ i+lt^Jl ibrll ef"+l (!:JL Or Ljr.ll ;+!tJl il$ll .rlrl p:

.orljgra.clle crhi,slle i*sUlf c!.trlsr c:,r-|.1.,Jyb,J-r!l Or i<+ttrdt r3!ll ga+i

,jJit; A-;,llill i$"i,ll ,.:+,4jJ e4lu ;s..,r& ds,rJ;-:rlill 45"jJl Jl-:i*J a$ rU;:*) is.4!'ti €,,i 15; i5l"tt

.AeJr.r^ll ,:lsF C* iJtl4.atl ;nis^ll ,,u" Cblb ci>t-lr.l!-l ;r..qJ!l ;cU ltqi*1 p:

i5J,j,ll k+le JL**l crlll i+Ell crt(J"j.Jl ClrJi s.eta JJ iiSJ^ll cig^ upt- i +,le!t c9Ji.

p-,,-l "i-,$Jt dlir' diL,. r:il i3.or,oJl i llt"ll dlrill+ o*^AL*^ll dgi: O^-a Ld-abrl .; fll

(+Y.Y)rnlVr{f -YrYvvlo^;{}JbTtf9Tvffi{fwvo*tY1'1ofY:Or*$ ij,!*Frl-.riJrl-r'ii;l.qr-lLll .ullpl,.li eYY

22 I Al Srd alAali Stroel - Fini $quare - Ddki - 0iza'lH.: t*202) 37017375 - 37606532 - 37617376 Fu: 37012393 ' $3?958wunr.areheg.oom

l. l..i L;brJl L-J'-,-^J| aqJ,.*4JlRed Esrnrc Eqyprinn C,onsonriut s.A.E

.r: !.r;r I 141 ai-J Yr ' iDlt-all OtS-: a*.aU

a

o

.4+Ull otSylJl dJ,-lCt -l t rrtt i4Sll ./ f<L-. u-Jt+ t9 t<+1,'a

&rll +!tuL!t':tt e.isJ"&tl i-l,...iJl+ &tr:Jl il"e di+ 6.1113 qy&t AJ+q 4+$"ll ilJill ,r* i

i,ill "Srll o cll p.tiill el$j*,d

Page 14: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiH3i l,;Sf"fr-, 6.rt-c lli. ..;i Cl As. JJt+ J,.i../all 6-,h!l di.r':ll ,t-:+ iS-,"&ll .Eiisj y . Y

. {.c$l drlbJrll .,b ilt'illLllJrll. 6$r .Js*L .rl;Yl a#,rS Osi: .r

. isJ&ll ,Jl &#l U"'l l.+rl,all !rt.a:!!l itj.Jl 19rs cle fE gg Jglli . t

e#l4+t+.r$-t+iAs-r.ill ret -lir*ji tert 'rCt "+Jts:t1 i.+l-!b:OS+.o

,t fu,\S*fu.9.

: .LJ,.silt+ F?-rJl .$lrill ir!r: L$.ll i.riJl ,J+.asl + ULll 6Jiill dy.i cQpdl 4.* clS! * '/t$-ll ;Jilll ctl-r++i,..i;*i$ i! Oi

"t" ,l*-.tl fiL,illJ 4Il4Yl 6dJ r$o 91o$,

i-::fSf 6&,.eJyl ,J4hl-elJSb *t';4f '4trt 4,alitl 4l+Cl-hL*!yl CUi a^*!; gi e15 ( bJ" !U-!i gt+'1i )

d! .li!l4r*r"tt 6s.dl l.+sl"l4j*,t-lv| .r-:|.9*Jlj itj{Jl J JLI-:'ill ed4+ .l- fi.:,*"ff .hL-,iyt i.ls .rt.r^4 Y! cru1,U*It diLii y3 4+s'Lll ,J3j t i dJi/.l,.ll

d.-ls! p.r-c IJt- ;l $tdll efe isJ.ill cF+ p)L"rlt g^ ;;Jral! l:r3'll "t3;L .t. Airi,,^ll!l-.,!Yl i-lu .ll.r-,

$t$ ) i-i:tlt llaJyl Oi; 6_.iri!i e#ll i.+l"e d3!i! .& .4!^,iill J.ilJs dll+! itr ,/

!l-.,,!l 0,-q oll.r*r fi 1..^l< ir,L L!r3^ll!t*.!Vl,,g!r] i. i+,#tffi '/.4!Ul dllJiJl d}r 4"!^Jl drhsjl

e-Ju O++ ll3 4!lJl cllJ'i-'dl dy3 {sq^!l sllsJill LJ "ti rjtg *f! e+ '/. .3Lii*r*Yl c.rL*Y't3rL Ut-lt iJFill Dli tt-et35l*.1

&l.uaJil oia ,.,#..ai,rrr,J:^ii e.ll.9 {"t;.Jl slirJrll illsl+ C'Jl C!.lYl .-Jqcl.ol+i-.U"ll tS_l,,iJf 4^t.,^ dt-+l sJl Aet"rlll r:l.lrJ'll i-1,""d$ cyl-i o!- grlJti-ltS: Cl"

r€l* -i q;i rlU:" ASljr"ll eJU e3r A+Lill{lls'tt .rl*.,ieJe t.l-t-,"tt {ils rlsJig , gglJ

. .r+l ct! tl-.iyle;r dt-eVl dtis*,l! fli$! lls 3-L$ q'.ai: Cl 6jiq" viJl ' ilt"a'oJl 4;c

: 4#i+Yt diY4ilf Ais. Ji t - Y

sUl d..i,olli.,.. cl"t-,ieJ" ;USt L,p 6-,,$-, t424t i+tJ! 4#j'Yl "fi!ffi.fri;dt Utj*lll glr:;;s:;Vf o>tlr ! 4+Sl lr#lll sl3 cll-qtjplYl.e sJjr,^aYl 4-+i f+

. G-ttilt dlli,t, $tJl d;,,all ;n*J ,l.!!3

6r,,.o.ot1 qiJliLd! llrtrll 4"$Jt+re t + ,",1i

'. .,iJtJqS::l J*n L+illlt &ll crt lillYlJ d-e'^aYl 4."+i f+A-Ldl d# 6ri, ilirll ft":f ,**1,*,iJ 6J.rl*,r cxjls .,jJl uiJ',^all -1t *.,i ,tri:-.t-,4#4Yl

. Gsialg lru ;,,,r ,Js qt4-', "p

fr-"rill irtc! lsj 6Jiill JXi clt-tr-"ll i.P 4*Lill

l.f .ui ir;E Jl \;l-,-djl ai3'.*-+llRenl Esrm: Eqyprinr C,omonrium s.A.E

.u)lrr.i: ltAl a.i-J YY' lrjUJl atS'l a*.aU

o

..1t .. Jl ijlq 6Jrall .jtr. -Yt c/-l sts CliJl i'.jtir -,rh*Yl rl;t ci$13 '{-ilJFeyl fir

; crl4l.rJl lils: fl

: t{+ iilri.lt ;ELlll ittrls Ut^lt elJrYl o-Y

{+y.y)rv1lyYlY -ltrw1o^,: (J.6llfY"tlvfvl - lYllYrvo -fY1.1orY: ir${b tj{rJl -sfr$ -,rirr3l.ge-lut.u.llgJb e YY

2 B Al Sad alAdi Slrsst - Fini Square - D*ki - Giza Tel.: (+202) 37617375 - 37606532 ' 37617370 Fax 37612393 '$37'1958www.areheg.om

Page 15: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

A. F.r i ar-lHrJl L-Jrr-.Jl a.eJF.*4JlllvRad Esnrs Eqyprixr C,srsonrium s.A.E

a:!-:t \14\ :;...t YY. a$b.ll at<-i a.;U

6.r,.a-,)i3 &lJL^ii*',ylJ Leisr ep us +Jijll) 4#li#! 61ljJl Jl-ll cil3rYl o4l;sl (i)

r'rr lts otr3. Y {.alAll l*,t+*ll LFp i $.1 ( cr*uslll ol-)I;!lj u#Jl+lll o,r-i.:l.tJl3 e)Lqrll

,l n,. &ldsll _.JEl-i^ll f$l ,",-g f^i.l L.ii.lf a'r!-,,tA.ll dlL*rt+Jl eai Cr...a .r.Frrll o.lA ip. 4+ll."ll cllj.tYl

: 4llJl d!l.9Dl fuit'll ;..Jill1*;

p)l-.rll i.u.a,i3 nl_1t-di,,,Y13 !$ill ) eJr^tt le . # ar'lult+r':Ul p3rill:6JjlaYl i...0'e,J.lu:

. 1i,:.itSt d,t*riJillJ cJ+Yl AIJJL cr3iJ ouljiJYlj ftsYl otdlJ d*ijlJl:JbB'.AJl O. tljr.ri i-:>ti g^;i:j : cgJp,ll JEli, ,/

, iJ,a -,,[r.ri *F €Sl iic.."* 4+lLll 6l.rYl 1+ ce..)ii{ll J&ti. cA --a!tJl J&ls' (\).4#jrYl cr>Lorll

sp J+r$l .*,,.,r !r-11 il.rYl i"e + JHilJI ..,Etii 4 - lstill ,p.J iJJ'ell ;,i$ll Jbtj'^ (Y)

. cgJJl og 6sLilt jr..,i

dJ-Jl Jt*..,i ep ,rljilI i++lls 4llJl 61.y1 i."rrs cp J*Sl JEti. d - ,*.Jl Jhti^ (f)LA;J*.a.r li qlt"lt 6llYl+ i-3!:^ &lJ9 Oe 4+jU cilJ+ijll d]lj ddls lrl t^e ;lijJl ' i-,r' -'

. de,Jl c/ Lelgts pi cJl cilj.rYl iiu i 6j!l j,ljnJl 3i

. e.Jll i..:" ts^t dlls dd ,;slg !"i 6Jl,*ill 4+l5^! &Jl JLti...J..&: Y-l

: oL"i:Yl :&i ,/

fs-ei Jbilf l.rl cF+iiil- g #+le drL.,4ll .rl.u, "J"

C*{t i-1'r! p'ro cjp Ol:.riYl -Ei ,Jt!iJ"-", t-qs li-d" jr;.r.oll &tS .ll.ur .rr; i.+61^ll ;$'i clbl*l ltiil gts r>[.r]l alut.rt! asJ^ilt

eJU r& 9;-.,rri3 LggtSsl*,,| .r+slg" 0t iJii$l.Ll-',,!Yl"J" Jr.u ulJP s& isJr,j,ll

. di.aJlt: ilJ#JlJEi ./

0- cjs.rl pj+ .rlu,, r& 4sJJl 6Jri u& -i3l $ ,jtl +lJ'll qi {lJ+J! -l!i c}3"i,rsll Cf J.Lill dlli u.b*iill i..r..,,|,.r.cll fu3r;*,.q .E$bYl e+ AS/lt i*.I+J tttt^: t4iLaljlll

tet e*l* r."+ t#lyl iJl.r! egil-9 !$ill t€-,t'+i" rJ" iJ*$ 4+t+ AIJ-lll uiril llYl+t,.il|:l&JJ ;r*+rll drb-^rJilt &"*tC-, dii*illl o$^J l-.3Xt AIJ**,,'!I J.r" J4

. .r.s-df ,j!3-Cl c,P # ot +:+lt-l

- 6$Lill Js,,i i3l'iall 4+$ill 6Li!r$ll JEli.l ./i.$l-i]t t,tr*,,i i J"i:lf ti+*,,i /*I-ll ilsll i.l$:,,""tt i"Srtt oui'! rtl ,r.e ol;+iill JLti. s*{s{S Floating rate Lnyuoll ;ritill *li urdl 6hi i.tt- *p dtr"ll dJ+-, clri, .iqjl +sp ,!6" J*,.i alo oJ+

"uf; fu. r-oll il$ll u!.ill isLiJl jrra qp J$ sJl d.llh\iill ob rJL

. il.rtrll ,e , *g

: k-Sr s'i tiJ 4+$jll 1-Y

dlJjJJl ap.rJ3.fu.r:a\ 4+$jll I e <- ir-g +Jijll d^il L$Xl gtilgjl aJjt! rl.rci |eF;:[ill et*.::! 6*Ji.t*,.s4J t Clr, +i y dhy gl{llg

..-;;ro;t ol;*** ' t* Fhh.;

(+Y. Y) Yv.ll YYlr i lvYvo - rY1.lolY r &t4b 3j{+rl - criJl - da&l,rri. - ujtrtt .u,ll g.,L& r:r YY

22 B Al Sad alAali Strest - Fini *uar - Dokki - Giza Tel.: {+202} 97617375 - 37S6532 - 37617370 Far 37612393 '39377958

www.areheg.om

Page 16: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

f'f.r,i \JUrJl L-J'.,-J| ae3'{-*JlRa[ Esrnre Eqlprilrr Cpr,rsonriup s.A.E

. 4:)t{,u:9 llAl::...ryf. fu;bJl tts-la*;U_

. ,lUl 5.41i-.:t-{g*a 6rA e,r.ri _u{.1 r Oe +-! dl+y ChJlt l-i. a+t-l"tt.,.l fuJl$.llfJ,ailt+, i*r,< t1 sle ,.:+*,ll 1,. _li eflip.,

V-Y. ret qp sp dt.*ay ilar rr+ !-$Jt @u1i c,,;i:

di,* f, I . " gr..r.,i ,rJ* 6;nlt 4+r.tt 6.r,.e$f J Ljatijl clr,ui s e)l+dt 4*s "f

dlr.* t ?r,.*5 e+e4a$:$ a*. d+.ht i+.E.i ) 4#$riJt Ji 4+tdr dJHq t{J+..J e+ Cs pls te ;rr } uift ;u;*i ,iA Lj

.(t'ut+

: ,sJti*Jl O_gjiall A_y

: ,JStr..tt sJ" 4jS!:4Jr.I iGrt e_-J Gdtfr#rt *. ,J!i t-,g+i 4*#ltLgt .,.6r,a ri q:r.Ur &K!r.i 4j*,il e+ ,fU 6Ejl O_rji.a

d Cl slr-rJilJ 4-ij. !*ilYt lits:tt 4"# ,r,, ig t1rfut*iJr JgsJr+ 4j*|!t e+ ,tE ;;c 6t3:l O:ji,.eJ p$l J u4:|i'fJill d;ltsi {is3 t rJ"Lr t#te pli.rJt o6-,ryt prx!! a$sj r&u raacltvr ,J.sr-d

. fL.iYliLJr sll &lb.J'lf cj,-'r .,:r 6L,-?.l.ll r6t -.r.i Cl slj,r(+ill: 4$y.l diytall #.Lii &is ,.e-Jl,!"ltJl-a3syt+ dtJleyt e+ ,4+ttio crlJL^:i-,|

tlt-ii*.yt1t!rl. J.ll 4rl$n.""ll !rt-'a:!yl iLiJr dglj d;{iral cF o_e+ r-r-:" (i)

.;ia:lt rJ! ,s_rLi*tl. t{+b r "1tJ 6,13r.an a_,rtirll ,L.1r*y1 {-ilS: O*l_,1 gS4 t So (+)S

L*Jr- sr+i dt^i dl-is*J ( s-Asr / c/dt-E ) .jL- rrj:tt Jj:s3 "r *,ffi J:t** "Tf o4-ai f"l1+1" , i'H itS.-l+ ol-lJilyl oia .r;,si Os4..Jl 0*: et ljlJVi ,ra{rit

cjr. *$i,,atr ,.F,! r.+r.,"r-,r tj H]f t:':, e"jo: +ltjJt cj.yayl \ ._yt nlt .t .. i

Ur,\$llJ ,_iljicylfiL : |'(j+P sr, Dlr*:l c;13 ill)a)f t^r" f,!ai &+ f,lts:tt spt 4 +qt-i]r ,Jj,-yl ,',jt'r*,-tli,n*iJ rfoary bJL.€ q+1 gj. (j,-vr etngr+ i-r.U^ Lau:.tt oti3;,a,Jt g*;: Lltll 4J,JiJl drYJ|-.ll'L.iiJ o.t3t .L.*ltt 4qA ig."li cil'jj)f JArll Jlr4 ,1" ,l_r.,-vr

,',lsJloloh\

o/ol ,o loo/o\ ,

o/ol . -o/o\o

ol;Llo*t i3A: cltii

ci,l!-,/*JlS" tal,uo

{syltJ6,^ &ljj{+iol3.li3.l.ro

4iJUlt tL"oYl cp -.1E'ill 6r!ol ilg

(+Y. Y)rY1r yTlr - frfwlo^.r ,.y6tlfv1lWyl _ ryllvrvo * ty.l.loiy: {ir,i$ ;j\t+l _s3rI _ d.n6la1a_y'trJt .r*fl X-,L& ,,r yy22I Al$ad alAalislreet'Finisquare - ookki. unms?$r.r:r - 37606532 - 37617s76 Fu:376123e{t --$3?e58

Page 17: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiFf.t.d L;li,Jl \r,^.Jl aqir*JlRsn[ Esinrs Eqyprinn C.orsonriw s.A.E

a:)l*"u:: t1A1 aiJ YY' igibJl at<-la,;B

oWL"JilJl 4"gf 6*a 4iuj! Ji iirjilY i^lryll 4J"Jilt .i,-Vf Llr ofU: ,rlt$"?f ,rl ls-r.f,lf iiii Y

Si cjy-lr l,alill fistll crLiiill 6f , retg.rs, $e diJl -rt! ; i-ltStt o.ra 6.)$ d+r

;,tirJl ,;Ei!l tl;*o 6V if*O. AlU,J-r-i rei>lb-q i!.J,-)tl a+*JlJll iIUJS-all dl+*'.!. .,*,t*ly| d--yl;.rLJl ,-:LirYl Jarll #) ' ilidr

aJlr.;3i oJr;i,*! $e aJr..,Ll,ll JiLlJl 3 *)$Jl on 6l+411 3i i.t.rir,"^lt cj-rYl rti $rn-r! pl;

. lhrrL,Yl 3i ptl{r*Yt ix pl,f,a-''" l-gS:,,"" gtl. !i g.d e-4,JL^-,iJl jl-"ill J -LJY I

{"ii,p'|" o# &i' * **: if,.LfH ffi ,T-fff,"""f,:", 5:&;f ' *

te t qte s.9 dyr..!al J,il-,4i gl ta-i.,c t^3lai.a A-ilS3\r l,3$":tll.l

: fuljFill oJii (-l - \rlt^ll stJl-ii-..yl \ Y-Y

e^ar ca*& 65 {1l,.,,Yli*,,!1, t+ .9JSJ ll .'l'i:.ll d;J p.ai'll A-L',tiJl fuljAll OJli ,l *lj,..ii,*Yl d+31

f+f;rtt+ Lf;ilf 63i ;*-Ei J .eJii L:l.r ci!t-*:3 OJih r+ i6$! 4jiYt o.ra ,& ;l.r,aYl

. 6fi*r,,,r!l 6.l;U A dtJl jSJJI g;-1U g"r;l.r.aYl t*-f 4"* Qj.o il',"r,*o A+*.,,Y| t#"i'li: c,iJ'il-ill cr.Lt+is)l

.l l-Y;j* dS GJ gpL,a u, o o +i+! L^ *iii elJ;SJ"Sll s-,l*,Yl tlJerJtj

&tsJ^lll Oglil tii.l?"\ieill;fgj ii:F jJ++ .1.l,.a.ell jt"ll g*i.,; c,,^ o o . o-Ll.JsYl dlli &l# si- i#till 1'Ll=$.)ll

.44Js.,1! 6ljnJl C*'ii dlJl ur> Lraij lrlg 1Sr'lt

: dL"eYl dl-"<1*l aU$! I t-Y

e-1=olsl eur rgjra.+$::,* c "!. ].r,T$'d3T q*fl qY 4.,1TF',"'-*J':f f *T

; U"r,"" C#f Lr:ll g3-p^ff Lr,.*,ll-+i crJl {er+Jl d,'lbJ'll Lt]]" {|,lj c{i gb "Wl. g-u-tr Jris:-,Y Llll !*$sll r..i.,l, tsill 4"S dt-+!

1f#l ao;-;*ea* ' "*;"$qSR]*'; ., !{': t \\'r.r**JL--aJt 311:Yr

. cj-rYl 4"* ,.i,J1=a!1 \ o-Y

Dtr.dl *& .J.t d,,t-,;*iJ" yt-ei !.i- ep-, Uut rllJill d*ru i@ lii.ll i*;6lt Ll.;.r $it.'.j1"*X=4!.Lill L$llCldJ,,ail oir i-$,r:*ir: *djli q}.lla-$l cF ,J-,,.aYl o34J .rlr;i-)J i1,611ia$ll

g*scy gr.i:-,vt d!13 4# 6l-,rlpi;,J+,r. t{!g o.b+i., e Cld.rv, * *.,.rf,uJd}f'ffa":li$jr* jJr-g+frrt,j*r*ttJX";YlJ,it

"i. L"1s.r3r-r "/

ullil AJli-.jt! J (i-i6ll Dls-;l Cp i*ult6Jl,.All.d.rlt

a*\Lt ll l+lJ4 'l l-Y,:rf.4+"t l+Yt c,,r,:;"i:ilt 6$lil ti;h L{.. &iLlrll Cl,al s.JS:ll +t J'Jl dlUi.Ull fUil sP AS;d,lt p.aU*:

i+ s& f,Sy'Jl fljjl! J,"a3iiJ _r-Yl 0- 4+U i-,,"i, O_rt.!Jl lia +r: q i-.rJl r1l-r,aiJ OC.lrll *l*'J

(*y. y) YV1l YrqY - Yrfw{o]\,: s.6lr fY.tlYfvl - lY1lYrvo - rY1.lclY r dU4*5 aiidl - siJl - (,leno|J+. - ltelt .r-,llg-)i; rr YY

228 AlsadalAaliSlrsst-Fini$uare-Dokki-GizaTel.:(+202)37617375-376065it2-37617376 Fu:37612393.333R958www.areheg,mm

Page 18: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

t.t.d \lljrJl L-J'-,-.J| ae3'.*4JlRrn[ Esrnre Eqlprinn C,orsonrium s.A.E

4 !i.-:: 'l l^t aj-J rr ' 6r;Urt pt<-l a,;B

o*i'tt o*urr' rsJ*' er'rr tis d.isi*vI # tr #' Hf" lftffi nffi, ffH: fu,tLi^ll etitl \ V-Y

tit$ut6Jlill4+JL^llilJSll 'r.t cJ-cr-tjjl,jrtJlrLJti iJELiJl ;Jiill ajJtl*ll e6Jl *-r+i Srtsl s.+"Yl+lb

: l.riiJl crt3!$t a-j6 'l A-Y

clrdlrbt+ll stJ.,-tlrdr$tra\t*':f;ffi j: : fl+-ijl clit e{"-,''ll g**aj \ l-Y

fe*yf "+

e{iaal-,!.. g'e il+.at-,rl+ i:t':.lt tJl*ill ll g'lJ] i.-,,4., :rlt ;:l 31 6Lr.-;!l ,! #r.Jl :f '{J. L".irl eiJ

.;Ji3ll .Jy.i +^:tUf a;$rJl 6*!l ,rul gs.:.Jl!*$^!l "fc

is..;"ilq lull: qrtjlJ*hll Y '-Y

d.i'Jt4+J;,,,tt'.;plll he L^Ja di.r-|li-jf-ii rJirJt ,,,r1r.4 L.AljeYle+ I ++-tf+:f i-,,.;*::f ;;nillgr+;1.i" ,SSfflp'@

. a1g"at ""lf di: i;d t4:SI fr; fut-.tt ob eJ'e ipat*ll clJis .,! 6-dt+" ii-,:,. r.9+,'f,itt:"tt

glu # LjJtL.J;lt_.1t'-..,iats:*q iJ$ll,J.Jl.-.,jl":llt eJ.-!t qrle L.Jp"s.llA+J;llcJ !-rbttA#.Flld3^:l. lql.Jt &tr,ij4 a,-hr 4r-."F l cjrJil dt iir,.:yl+ oA \ | ,"

i"ii. fftslir-..-r a+ dlar.ll e.^,ratr O'll6tl 613 crr-l-;iJYll rJ.saYl fr$ iJ# tuli^ll ctrlx rlii]vl AfuE+

ffif,fr",:$Ii,u al! dlJjeyl e-..e a+tdf t'ljiJl rl.rcl g;Jtr cF !-lu,ll 4+J*oJl Jr*l tll.isL $yl L..J*:ll U""* ,lcfr- Of* t"..:" ,pG;*.rri,,*llp yf.*ilf3 !S,-ttJJe cJ,.tl;l';l"!l Ut+"ltg 4ie]^ll .$-itt gn+lilr-Ctt +l; ilJ A+!it "^ll cilJri*Jl rDU ;s;lr cJc i3Jr.,-lt +l,j&ll uai\il'll cj.a!l-l.ra tls:-l o"Yt* f{ dt urt

- - ' --.i+liill slJj-Ji dri i*eJi^ll :ll;,1:tt ii'l;^lt a.:. di.,4 0J dill e*ll i^.,i,, re 'rilr, AL.3"ll qi'l,}ll

:cjt-"ll cYll 6-ll't! Y \ -YlJ.,ti^l lLs3 dJ*JtJ 41$.ilrll3 O,r.-1,.i:,""ll ,Jt sJe igir-lt cr* .-sJp dl- u$i.r1 !t-i:lvt I is;r,i:t ;Jlr! l*u- o!

crl.tl_;a! jt . n:i* isill i:.r.r. .e.rJl3 tj-ll cyi,t .,le $tdl ir,.E" olllYl L*l+. ;JjJJ llJill i+l$3,i^ll drlJllr3ll

lf rfj V rifAlJ^It gl-r.",1Y| c,|,lJJ3 cl-ri,"^ 6;llYl r--l+. #t-LJ tX O+.lt*ll dJi. dt +! ,Jo l-l'"t^ lU:lt

i i-"ro{+..-,u oiau- Lv ;s;or e;r$ LrS ci;iill Dti dt-ll g*l',) llyl ,p ;s,}d:t 4+!lJ1-l i ot*.te, cd.illcl.llcrl.,r

{+Y.1rv1l YrlY - ftYYYtoA.: s;.61t Mlwvl - fYllYrvo - lY\.lolY: drt,i$ 3jir+Jl - {,irrl -.*rslJar -lLll a*llg;L:, re Yr

2 B Al Sad al Adi Sfsd - Fini Square - Dokki - Gira lbl.: (+S2) 37617375 - 37606St2 - 37617370 Fu: 376.|893 ' $3?958wwrv.areheg,mm

{us' s4#Gr+l ' **-s*fae,

"t", d**JLJr 't;\t"l\ Ut

Page 19: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

MHF.a.ci a+-lE Jl a{r-..-Jl aqJ'.*4JlllvRed Esnre Eqypri*r C,onsonrius s.A.E

.s\r;: t'\ \ ajJ YY' iDll;jl Ot<-!a,;e

6if f \/f I \

f a ;1Ia' J J

\e^ j/

w

(+y" Y) rnlyr{r - Ytryylo^,: g.gtt rfitvfvl - rvllYYvo - lY1.10lY: fu;{! tt#rrl - sfuJl - ri*r;l"g -lL!l r*ll EzLi * YY

22 B Al S.d alAaliSrod. Fini Sguare - Dokki - Giza Tel.: {+202} 37617375.37606532'37617376 Fu:3701893 - $3rn58wurv.areheg.com

Page 20: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

a'e'ri a=':l:tJl "il' Jl aej'{*'JlllvRenI Esrnrs Eqyprinn C"orsonrium s.A.E

6)ir"r'iy \1Al a.i*J YY' C$bJl atS-l a.;U

'r .J E. '-r.i I 1

,c, 1^ 5I t" l- -L ',Ln 5;:i'r i,l irl.'l l,-: '1tr 1 "]-l -",i2' 4 1-t < Lg i r=" -.i.; { }r-lp''.q ' h3. u-^

3iq.{'J 2-tr ^Jn, 1 tj t3'

'd a ?= utt A. .,1'j - r{n4; 9 r;

"' .-n ; aa'f 4 ' 1?'x. :i} a - 'L42 v' -i" I':,'{' ? a X"7.,:' l, i 'd 3I 1 t drq 3L=-- t 'j J'l,l t ,1 is-j'.r tr !?'i .r 9 tr,:n^ 1i 3 33:r .i ,{1

' u 1i

" 2 5iI ; ;1-1.rr \ -- -4'1 .: 't 'l. ! .t:ai> '4 :1,

3a'1 1,4..15!.\

9c4"a=.5Auie1\;3:

lJvi{!1 .:l' ; '4

au':^t*2;1aU1=il '\ .I3q

i 11"1

>1'{:g'1.r{2ii { ,J..1d4."1 .l .;\.{?'.dr;'r' '" :l-1L 'a '?'Je-\n:r,.)-j

.l' I -ir4,41 ..' 'l{"1;? .,' 5.t,,J'4-3'raa

9C11rijdt\1d?,\oJ3.34.r .i 'qlj:;

1; ta+,?'Jl-?A4.i

ll.JJ"q 4

an-f'XA,J

(+y.y)rntyflt -tTryylo^.: sJbrv\lwv1 -rvllvtvo -iv1.1olY: iuil^b t;.ilrl -(,a;rl -&4to|J*.-lLll .*llpl"& e YY

22 B Al Sad al Adi Sfsst - Fini Square - Dokki - Giza Tel,: {+202) 37617375 - 376S532 - 37617370 Fu: 3701898 ' $31958wwwareheg.oom

I\4'1

A

1inil

j

7

,t,

" IJI

{

f:dF.

si$(tr

+

&rE*at{.\

{16

5,rJ

t,

#l@l;)ltl4lt?t1 |

ffi+h?nils

n

=

. :i

z

n.tn

11

titj

lli

;i

ti

i {l:i

ii\:r::!=::,.aj.j -J

t:it|,

il 11

iiil'i.tl

'1 A'1. -f,va,1 1

;t

s

=l

'l:

ffisNstl:iii_{*:

w

-

$N!\iit

t-i!,.4;ill

{fir,i,,

iiLirllil

F

$

t

rur:ffiiiiLN

ffiI

>lst''l

N

€{*SN

$

uilL::1

*,'l

ffi

a:,/tiIilt.i.::i1/.r:l:l

:'1+!*\\

lll.:i.ir:+

#.kE!i;

lltlilt'..tl.::i!ti::"q-.fr:::

"lJ LruilI tti;:

,,.,.+

.1"4

_t 't!) -4

'.1

:!

!l1al i1'.+ | >d .\.1 :I'

L,lul

fNG

ffiffi

N

#K

Il:;:4,

=+,','{

Page 21: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

e.a.Li ir-:E Jl aiJ-,-.Jl aeJ'.*.J|llvRsd Esrnra Eqyprhn C"or,rsonriun s.A.E

.ri)l*.r-:r ltAl aj,-J YY' ;r;U.tt ptS-la-;U

9kje-t]Jlv e-t

.,s 6t*ii rnij i$J fu|:ll | {1-Ji o. }+ clli &j ;XJ a,!$Jl liltjlL Ore.tt t$ *

, &dj+.lt - q. Laa eJ,r, r i fL ;ttnlt sJo dpl,Jr qa jr g1 i.: cr.!l o j^.il drlS'lr A.i+i &i LJ,.;.LL.!i d*.ll rlilq 4sJ,'Llt ptr! r.*' rJ

eu JF lrtij! OUjSi -: i"titj

: Ji+il ;Jbua! r.Jltr cllJt 3i-! -1

{+y.y)rv1ltl\Y -ItfYYtoA": e.dllfv.tlWvl - rvllYYvo * !Y1.1olY: &rj$ ti{*Jl -sul -g€;1l.gr-/rll .r.,llg.1l* v YY

22 B Al Sad al Aali Sfost - Fini Squaro - CIokfi - Giza Tel.: (+202) 37017875 - 37606532 ' 37617376 Far 370'123$] ' 3$1958www.argh€g.oom

eu Zruj! Otltl! -: lrltl{Af

(q{dcri}

Jt-?,*! d,-Jj! ctjt:J

Page 22: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiHl.l.,Ji 4lljrtt a.,-Jt -*Jl :', 'sFrtlRenl Esrre Eqyprinn Comonrius s.A,E

q:!g;l \1Aq::...t Yr. i$iijl lK-Ya,,.3l;

tlt.t

L.J4t'q+fuNLq,q!!r+%cq;r^,i,'i;irill ,',-:*gJl&Jl ,j-3:*Yl3;.rditlfuJ,*"lli(t-GAeJ.-ll As/"eat*":-V-rtii .-..9,-rJ lj:ulflJFll DtiL6€i!l olrl..;ra! ..pug1..119l"i d'edXiqJr-cy1 eljj,rl"\.ir:rJ"YqiuSl*Yl 1"+

4*U: ofrfet'rp *tt 'tt rs ,e-.,rr.3 tln rgt 63i qljrtll 3l ;6J'll i.+itj rl9, g-16J1 tt-"ii*Ytg ie.::tt orrn::*":l isJ^! tJh! u"l+"

;rfrf ,r+.'rri.i3 r: e* i.rUOi i.r*lf i!3^ytf is.J.il slt ll -Ffil d9 j.l,J t-.g .et)I.!Jl -.)t-Ji-Yl3 a;.::l gr..;,.3:*ll &y,*i:tipst.\A/.v7tlg;Q..)r,,i:*Yf4+..1.;rx-lf3l.'\A/.17r'reJ..rrlt*'tt'jffif,fi,1ffS

: dJ,iYl ijjdl irdJYlJ oJiJr.Jl -A

6;i!re.:;r^lt ;u..;IlJ OJ+$l i-+ s,e Db-;tl : ri+

tqolll

ttqtl

Vqot

ttrlt

tttlv

irLt" l{e

Lri* lcalu ot!j.,;e

iisj,* ilJeJ $lJp d.lrl-r!

LEJ.xJl -t-ll ;1J,.!

( u. t{-{ dsJl !t;r ) -. q.i 6;s !;tr!t is-},i

. oq.,.L34u,ist"tc

ljsfl Jljt i.s! 4jJ"ji'

1+!-; i,ou-. o. i+t..*i3L;l1 i-rilt+J*a

(L"J".:.11 *. La c-: c.l,l) +l;Flt i:r&

(+y.y)Yv1lYrtr-lffYyto^.: p.d|llvllvYYl-rvllYYY0-!Y1.1oll: fu&b tj,{*Jl-d.rjl-rr:$Olar-"Jtrtl .l.rleJlj |iYY

22 B Al Sad al Adi Srod . Fni Square - DoKi - Giza Tel.: {1202} 37017375 - 37006532 - 37617376 Fu: 3701893 ' S}{}?958www.argh€g.mm

6t"'**tr{a;-@,fJf'-*f r '3-"'1

Page 23: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiHf.l.ri \JU-JI L-J'.,-*J| ac3,{*JfRen[ Esnre Eqlprinr Coarsorriuit s.A.E

' 4:)lr"rri3 !1A{:;...rYt. i8il;ll tt<-)a!:U.

-: ( 43ilJl q+ijill ;Jlryl (Jc k-tJ.-i ei cJLilt:. i,"J ) (JJj,i d9-i-1

YIAVt MA

llAVqlto't

loAo.

f,i,=jii: , :ill;,'

,i ;Jl ,t-:n / JJI

qju,j.j.il s* I )+,4,\UI/A.UI

OJ -ll4iti ir*.at -rl .rJ,+ i."e; J:i*;!l : e--.;

..J+&$

('cX.,lipLJ] ir114! ;ihllot-illia,ig ' '

( + iu|jL l t { drJ,ill ) r . . r eb J)Li r*sul . ij- ui'{ -Jri }3_ Llt p: otilS. -; fji

i'.itrllr-t,,i}ijlto+iJJ& /+-lltlifutr\'tlLldlJlJrylL.lrjO.,ltyJu3Lts jljri..;,4 t. , t ajJ rAy fe.J g>.JL cttittiJr orgLr,.lr L.r+.ll g*! frJlui ,r< -.r a{,jJt osJ g.rr,i rjr. r ..js e5 Lu.jt dtJ")t tlj ci;E fu}:,lt .rt*t rtr-ri gt+L rsr.ll +Jt tG $J s+ oJ*L \ A, o gli49x6L c'uli.lt c&+iJl$l&tili.ireo:r-r*,e3crr1rl,ailJlLs..\91*jll &.ieLiAi r-,-Jl l;fu.r,jlt 6"Lu.6r.ro7\ t't,ejcrJt dUaOi l-s,€lllJs.!&ll.l|ej-+l

I . r o/ , o/ y .\ iJ+i L{:,e rsrll r:J i!.Ut !i}ij:tl

r ri#;l@4*'t rd*;

(+Y. Y) fY.tl YYtr - frYvy{o^": ergli lv1lvrvl - ryltyyyo - fyl.loyy: ar4rb ij\.*rl _ rJf _,rii3l.ria _ rJtrJt .r-Jlg;t& 9 yy

a t Alsad alAali stesl - Finisuara - Dofiki - GizaTd.: (1202)37617375 - 37606532 - 37617370 Far:37612393 - $37rg5Swww.arshsg.com

titi::1:.:

irl'i;.' ri '#s4 &!+t_

t. . t/ t/ t j &dtar.! sJ+ rraJ

6lr.Lsl + $J9+ .,, a

r cFJ dur + &Jl ciJi 6j( LjJyjjjrdil &rslb tuJJ.&lr ) osi isJr: iJjJEs Jjlt

r 1 A ,sn+.f' rN-! Ad*yt i-Jtjtj I r t v i+ij! Cl{Jlr 6r,,.jJ!

r 1r sbyl rtrjrl dlii $bi rfl.i.it q r r ii.t 4*Jt C-r.rb a ttjn ie:rr r{-i

. LjJNiitl dir GJ'., &+tidit {si oJd J crtris q,q {s;li ;it3.3 crg.r5! j L13: or ;r, - -

'ffi{ :# ry'#,mt',=#':;ffi..w:,*]! , .yr',r:frl.' *q-' :,tl

4i+OJJ| t lr JA.!- Y. .1ete J)LisiLBj lLaqjLrfus"c,lijti,.-:'tr,jlB

'd1.$ffi##ftHrydilq;W',i*#'##flT; ;,i#t',r,-eJ-.fl ;U! irl J obtl A$t O..JSt 4+r r.::t+. a+-i or,+.

, -.l!$lr tJ.ijr liiB.i{ | r rv ij- it'i,+tn{yt 1!,6 e dJnj }.!s.! JsJ.l:(J ii eirjs allJ. r iar! "trJJi

.l-(+tl4llliFoJ:a-dtob 4r,-11+u"!) I tto/ t,/ i ilrdJ,ltdrd.ltdJll.ltdt+ dJ,--.tor.ildi+tr6.;Jsi;. uro:!g;

.l cl4ul 6J+ qb cld dy Clil ll^ J s,.Jll dJ.a.l dJtiJt 4jril ;jF dJ.ijjl rb J !d i;:;a-tEF-nEn \i:i:njrJJ' ltql

6Ji6 ,"G. r*lX liij dAli djg dJUi.!i. !nS. r*i3l iiiJ c,Ll4- r*i3 dJJi

r . . r /A/ r . (F islllr gli tJji.lt .:rLLr._yl rlj'ir.5lt 6;r# rl,ltilt;irrlt t*rr,lt 4+lt

jrltga g+& 6.r-r:1t aJrr

lqtl /t / t (F l{to / \Y/ r! o!_!rir&OJdl dJlll.rtltl + JdjI r r A J l ,l l vij- i+dJt 6r++.lt oe iilJt *U;tldJ&l' djl Jualt ob 6.j-.1' + 4r! l+$ lrt 2

6rris.tr t!jr. j; Ojblir! CX+" J +iitt c-5 dEl J 6rl!,4 i+!.:rt;lt;b ZtJ.JJt CL{tt ci,rjj+ Y, . y/ A/ 1. j && (}Jdts.jt dJ,rsl,A +dJr lJrjlrr$\t"j, *ria}r:,j+

;;.ltal

..,, i trrriiirl,;:,:dW

Page 24: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiHf .l.d 4JU:J| "i;' "ll ae3'.*4JlRenl fsilra Eqyprinn C"onsonrium s.A.E

6)td",:: \14\:;...t YY' &J;bJl pK-!a,;U

ltvllf

tYlVrir)

'ril::]. ri

::::: i

4j. a.aij, ,4ill dl..jut J rlajl 1+; &ts-a!l

: ,llJilll J fujjil! Ad$jll - 'l Y

IrtYll

( slJ'tl ft--x4+ t . ir''-i;'ariie{-Or:l^ I . O" t-rr&)

( fe- OIL rr lii 1luJtcIJl cri-r

ggdldul LpiJ

j3!l.)lutlsj$ltJlrylf.lillJlu)l

;;;"i[-q.ifii{$nfgtillllutl

(+y. D rv1f Yrlf - YfYYYloA,: u.gttMlwvl - rY1lYYYo * fV1.lolY: fui{b ij!+rl -{,i"tll - ":.a.rag.

-,rJtrll .r-ll g3L& ..r YY

2 B AlS.d alAali Sres,t. Finisguan - Ddki - GizaTd.: t+202)37017375 - 376085i12 - 37617370 Far 37618$l'33377958www.arsheg.oom

Vl 1 ^tr'j rt.:YrA*""')'*e -/

Page 25: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

l.l.d \:U'Jl "il Jl aqi,.*.JlRa[ Esrnre Eqlprhn C"srsonrium s.A.E

. e{* OJ$. A tilt !l ls..jE!l d-l slt-+J

.r:)lr.ui: llA{::..r YY' a8;bjl at<-!r-:U

Y. I A/ . 1/ f . d.iiJ"ll'ti$ leti.ll J,a iJJli,0r 6rJljl {-aU-tt q*:3 4.r"At*ll Ol#

ohyr ,\.Yo\ ' 'c\o/of , A\

o/or ,, t

o/or ,t ro/o\ ,1\

yoa !,tl

ixor.,r6j-rjt]l1$il/r4+ipa-iultrl.ld-!td,"JFliJ|JEili:if:l'.. (Ja!-;i YtJ.JuJ;.r-:.tlt#."1!i+rteJlijl i-Lil/rstlJUsJee+ij-t tv^l F-)tt_,r\ r. . \/ i/ r gleluja*$i-t'.l1l4gJl lrsj i. . l/ v/ vr g;..rt4 tluJt ci}J Lt-'ll iijijl &iilJr ( &t'l et- g:Z:68 )re iiJsruj

r.-!l oe I-ri. t-lCri r4rirs g.Lri ( # 467632; ll.ur 6*!t s cr-i erunir +*t er*i ,/t fl,XJi f !St$rf::;*.frf;;l

, tJUr sr.,r cp'1, o . oJ! d-, qs rt ll Ct'si 6^,yu o lj..j Li i4ci ri : oj$lillo!tn:- yl

a.gtJ!1ele irqls!!ai'lt+aJ. tinLF rrriEdLJlJlfll ob. Ci!-u t*Jt-Jil-in*!j.e..rpr'.I grr-,ri9ir.!l CUJtI o.g.jJili t lco llr 4j$si: aullo!L,3rJl. iJhYl {.,i-I+-

iii-'I|Uu.jJ|cl,.Jyl+el'l|DB1.,clldJ(i#r.gl&)il..$l!}}.ilg!C,hl,j'|f9i3gJ+l+Y..(l!91,iJJs3iidldJlo!uj-iJlobr::Y|-+-J:oll*i|,!|. !.tA/.o/Y! 3Y.rv/ 'tlYv o!:<J'-illrrt*llLt Jti;r-rtl.ltj,li3'!3 Y.tv3Y.I1r.l.o

(1 fv\rVl t)

-rffiidl j3l .1y4.1

Y . I v/ . 1/ t v ; tsJ.i,! 4ri'lt Ll'll 4+^riL 6ri-Jl 6l,r-iljl i+f, il:J4ll C!Jl! u-rii3

:(J 'il Li.llLul i+u+JlJl;iJ t eJ s:J'ilills4:ryl ere$l il-!l Clitl o.Ji5

&.rF:,! a+lrJt Ll,.ll 4,*.+Jl JlriJ ttuJ oJt*iJJl slUs-Il r!c$ a!.rell C-l,Jtl oA+iii;i',;-'ii) i

a!,.t- .3tJ'i- cFi:,ltrt r-,t 7 1 c,r"t3r; od3J* i-iL:l / u-:.iil(YA,o{oiV)- tltiffi $il,"

"Yffi#*,l;"L,"i'(Jil') c'o'o;;''

(+Y. Y) rfrl YYtf - ffYvvto^,: *.$tf WllYYvl - fYllY?vo * fY.l'loYY: .!,i{b ,jE+il - {rf.$ -.;rf gl"qr - ltrll .t- ll gj^! r.r YY

22 B Al Srd al Aali Srod - Fini Squarc - Dokfi - Giza Tel.: (*202) 37617375 - 37606532 - 37017370 Fu: 3761&13 - 3337/958

wvrw.arohgg,@m

Page 26: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiHa. e.Li L-:E-J| aiJr,-Jl ac'3'.*.allllv

Rrn[ Esrnre Eqlprinn Cnnsonrium s.A.E

4:)trJ,:: tt^l aiJ Yr. i8iUll at<-!a.;t:

':,'Y,ff,,vAt{\1

'.. .,.:: :

vAt t-J.I

..ow

::'.:: .)

l:^jr

rYtftYt1 VAAl \

r \ q 1t.vv1110

lAtf t 1

qAYlt

lAo..1go. r

Crrrl

rf1t1

f llt.

t1111

\t11Vt11it\vtAt

i.:. .*' I

ru,ifu1;i;ii

| ' r

^l.i:ll/rl61'-i;\;-;i'tlYrltc

,, to^n*t, l\VlA.t

, l tvv,rt,tU a,

,

: llVls::, I,rvo.

c tA,\

, r,!,i t .

! 1q\ 1-

rt\vtl; :

...',!vcir'r,:':l.VtIt

jgl

u. Q; d)la rb:l

dLdi OL*:, &JJliJt o";;q;. gt!"

( LJi.,:t jr) u}"tr eYE

Jq*! c'"'ii o

}':ll ctut l

i-L:- oG.rt*,i.jJl r:ll asJJ

6ter-.il dJFJJJ jrtlrl

ojit $l ,:Ji6 '!i< "

iJltll LllJJl Ll;Jl irrill,' c]t r:llj 6JJj)U LJil " u. k-i e')i o!. ;,;:lji otJr

6:lato alrlj;

&J-t'll o.6trLb;j,-J

1r,;s I q;tir L.rl;f rlrJ !1j^ ll'-6r

frlsJ j> Jljlr t)jt

4:tL.:-)l r:U",.'11;'+

OJJ,qi:e\ urr-.Jts

-------------JL-Yl

' ' 'il"Jt

JIJFi d,ts}i - rlJ.:lr a-r^

1.. t- \111 +lJ.:'d]ri-r .-

4jjh4rer: J L.j.i CtiJi. LF

,J"rll *J. a,;r

. 6-rt Ji-. cf

1 -. La-: ; l:tlo . rr: tr::. p! . &i!*. i+. o:

/.t#J;dJUl..jFJ! - ! A

,,-ffiftvl.Yr A.l.oo

YqlAloAt

r\qqo

olfl

I tf^toAi l

lrr.qr :

,.ir!,r .

.

.:J.t !Vr-.,ortaqo:

1.!1Y\ 1.11Y1

jgl

irgll eJB - JIJ+ 4i+-r- oloYt d+

':-.::,,,,,"l,,', Nl , :

=i.

ll:lll iiii

{+Y. Y) YY1l Yrlr - YTYYYIo -: e,6ll fY.llvlvl - rYllYrvo * rv1.1ovY: &ri*! ,j,{ajl - {JiJl - d*331.4e * ltrll .t .ll pL& e YY

nB AlSad alAali Sfeet - frni $quaro - Dokki - Giza Tel,: {+202} 37617375 - 37606532 - 37617376 Fac 3701893 - $3f958www.arehsg.com

Page 27: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

f .f .d ir-;E Jl LJ'.,-.J| ac:r'.*.JlRrnI Brmr Eqyplinn C,srsonrium s.A.E

ai )lr.u:y

Y. f 1,!e gt!i.: a^!,':lrJ'Jo:il cilt -Ld

';- ^rtt .,11.,! $ro f .9 !X+. il-i r..JU€; &ls snlJ t . r 1 tl,l ls.,yill Cqsi gc r . t v7 . t/ Yv oe fuJ^iij rrbll Lul 4+-rlt?;JJ3,JI Ct.rYl {.31'Jji i.Ji +-Ji l$ d+ *

.t.tAJ,\iJrJ+,js3;JtrYl g$-3gaLull3o:*L -!t4irFidJijg-jJje:z:lt.lA/.o/Yt iridrllr{r '!?J

;clleiJl - Y I

: Orl^trll t+!ji elJ,:l! -Y I

(v1 r t) t1!r91 Lrilr Lqj t$13. c!.E^ rljFll

. &lr! fr lj," Cls ilp *,i, Jiis o3IJ iuts.ll O. k+-l r:lL ij* JS &63 ?i rii sli1ll 0s i* i,, &'*]j Lli irl-6.i !LiB. ciJ,.+ &.).ilt l.Jlrl g.\r .,)tiili3

/ifS, 6l'i-Yia*J' 4\e"-%€"

P')"-o-.r# t':;r{l',U

(+Y.l rY1l Yrlr - flrW1oA,: 9,6b rv1lYtY1 - rvllYl'Yo - lY1.1oYY: iu,i$ lj{*Jl - ,iJl -.r.i*3gl.rg.. - /Jl r*ll3;L& r,r Yr

22 B Al Sad al Aali Sfeel - Fini $uarc - Dokfi - Giza Tel.: {+202} 87617375 - 37800532 - 37617376 Far 3781239{} - 3$rt958www,arerq.oom

Page 28: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

a. a.Li L-:ljrJl a{r,:.Jl aqJ'.*.aJlllvRrnI Esrms Eqlprinn Conrsonrium s.A.E

a:)l*,r,:: \14\ aj*J Yf ' &JiLiJt atS-la,;U

: iL. ..spll al+JVl -f t

: ( ;.i5Y dllJi- ) !r-i:ll $li -l i

€>"Jlr -.t*ig*r.rb

jr:tgr! I), ;

l"\:!laj-J-l4ttJldt J&!lJliiq+lcdJ+oJJl. tro,!!i.drl+L t. .t A/ . r/ t.siod.Lill dsJ'i6";*.541t 6a.uj1.,:tijlJp

' . in-j;ll 0""iole Lr'!l ;i!'r

-jjC1s4 lul OL.-:I cL.Lhil_!i)

t.r^/.q/r.r-' ..,-ffi,,

I ,-a dugtJ'll ( ?r )

. &*i{-lt - !. Lg,i eJ.! r r fJ Jti'.ll gJi. r "i.ri

irl.,, 6r-1 .r rt{:jf l r.J ,j!lJ isJ"iil 6U6tJ Lr,:lJl sle au3lJ r.rl s..i.! )

6#t a4.}'@e' ;t*;-Fsa*-\

Y a*Jt-dr 'r)\3"*\.*/'

: Ul^*iJill citlt+jJYl -Y 1

Y . r ^/

. c/ r . ui +r: &di rtiSY qrSu: cLL\n;!,.rl +i y

(+y.Y)rnl yrtr - tfyvvlo,t.: ,.1,st1rv'llvtY1 * rY.tlYYYo - rY1.'lolY I &r{b t}t*ll -d"^rl -";*Ol.g-ltrll .t-llg.,L& + vT

22 3 Al Sd al Aali StrBet . Fini $quare - Dokki - 0iza Td. : {+20?) 9761 7375 - 37606532 ' 3761 7370 Fu: 3701 2393 ' $31958www.areheg.com

Page 29: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

ffiHf.f.d aiJUJl L-J'-,--.J| aqJ'.*JlRsnl Esrnre Eqlprin C"onsonriu; s.A.E

a:*uiy llAt aj-J Yr' &;16]l at<-i a,;l;

: rdJ*ll Li'lJnll-YV

4rJq:otl atlill +.r*i: YJI

\ qqA/ \ t/ t\,.]i.LLlillU+u..:oepJ.ieL,"}:ltl !l^J4?4fuc.'1Y,f LbJlrL il.),,:.11 sle i#'J",rr6JlalJ'iJl olaoal.i

6JJiJli-..J;ll 4:ti+ oUC. \ A,v

Jn_ ljll crLAlJi 4A fu$ { r,1-:

'rftq':l':1PU'Al5tJi*Oes.rf$l!..)lt ;I..qfu-j tIfeJJEilltile!4ijl3tfbjjlJljOXb4Jll-ll !',JJ;;'!it L-\-r,6;lr!l rl;:!Jl ,'l'.i .31o4jJtIrAYf..r fJeil-t-

ap.1-.4in,JiS.*rlrf :pc1r-s j!*l+-Jl a4lt 6{rAsJ,j.lt&,'u- t..r/.f/Yf i-\,i-pLzll.2tj:,.!l ,,'rl;r;L1.Lirtr111i;'111.11.!plr:lj \11A

. ix;Ji.tt J,ji.!JJJi.Jll4-.b+s:fifrO:-,+i^UiUlp.o/.\lY,trLJr.g Alrtsill ;rlrl o-!+.o+J4ji,zic*J-J iJ,ijll tl&/rJ-,ll% I . . L.",;lt{rle tlliltj,rl+ii +r 4:i,+.1L&-)1,,.11;r: L^srL pb 'L!uj di"+ a+tt"ll }jJ $ fuJll u-l++ sllr)l eLi:iJl pl"i V \ijJ 11Y 11 dl a:er$ -r

"fr,r.:*fi6f+^ff Cu*!3rltoF!+.pl-idroij-lllrAYt'l cr:ortl 6-j,;p:,jrlJJSYils;4ji ,',f gLfr r1Aue6JJL4ll!.,;Jl tE5iLilt+l-JaJb.Jl&i 0.

.oL".Jl iJlull rr - :i l ! a/j+ oJc. r A iJl++ 0J 6..,Fill ola 6p : <r 'rtl

4a..e+r{,,.il&Eerr !rrA -'\ qAA gb,Jt (3tjrc,e l*".;ar a;fu"rrgL46Jau\Jun-Jl,r-1..r-qile.LC. de!d-}l! Y.l A.irl};c-lSisJ.ill0lri&ldii.,al ti !|.,,Etd3rl++O,JH!. t,A rlulcut!.*:- 4,':-dli 1.. taJi!L-J+,i .LL,,li rlr.a.:-;iJt3Lr!*telrsr;;.r;Jl Lijl &i il.4+\fusl^ l ' rlr-i

c'!i.ii,ii't'J-!.l|0.Lli.l|{.iu!l|.9jbr1t,iq!|cr+.r.lisJil'g',o.3ljJ+-!i'ir4bcaJ"l..E.r.t'U-.JL"OFi9+alj"'i.l19J9dr1.+eljiJ!&lg;a19Jl:.l\{14-l{{ieliill

. Y, ' I / l ll1ctl.rriJl .sXsf 1g: ub lsyft +jt+ o. cF..JFcll p,J ,tJ- 4J+ 0j9L r I . &ti+ i+;lA k+!, d.:,-l A-..";r.5 4FJi sJJe e:JlJ L^ill lrtcl o..fL s. .34 ot:rlJl oI ao3 p:

,r.r! r . . i7 c q ttjilt stJi! ue dtJ.i ,:,lsJrr +t..j,r r q Cij,.j O)LLii or.Lll i4ijy .ru ! . \ 1/ . Y/ . 1 C.;tl: Y . \ \ if,.J I c . r6li +lt Or.lrt! ri ri' , 6illlrrr.i.l,lgU i;q ul-zalr isJc g .!al:\ ,UI rrl ar$l ..U.rl il..r,j,tl {r-.}ll JLii.Jt lri $J 4:le ;,'.Ur p: ( t q

) e lJ.+ fJ,.tll J!:

l.lV/t..ocr!'jJl .

.4-ir-JE s:r c'lJ'i.Jl dtl: 0e cpill f+ J J slsill rir 6c i;l-"-tll ,:l1lJiyl eJJiii;l.J-!l cel'5

,"u1,'l'"Ao#ffffi" 'J#J' 6r;s" aJ.itLa !3 c'b'J "jl ;p ;s.,;,itr u"l fi

r.tv/l.,A6lJiJl .

. taltt& i l$...J; dry.L.-tr Y . \ t / r . . A tlJei uF ddll liJ +l.1.! o.., ei $J ttl::jL3 l,-J+.:, i^!!xJl 'r'tb;ll rlr.+ is..rlill e-F

LjE+zi-i-.li$r . , 1/ V / r r ,5 lLjiJr 4?l+ dF &lJFJl .

4r.irr^ nrr:a: ri3q.i.4 -:t.2al Lrae.rls +Jd,'r- r. .r ci. t. .l rbeysit{.:ll .LiJt! le ii'l*"Jt ,, ,ty:tt rtu3 L.5,Ul +l+ o.&J.iI u.rifi;.+ I .'.7 r. ,6;r-:36,'i:f l-n-...rUlf Or,all-LXiy 4,.:. r o. o,tr,r E+"t{- d'l-ruitlJ 6JJsiJlelJpjl 0F ejttill-.Jllq., J!!l ;rteYiii" BIJ i'i+l!l

.lqJar. \ \/'\ Y/ \'\ AJ t "1 /' /''\ dnolJiJl'

.r.,)Fi,ttoh ifr&aidlL.-raltilj r. r \/ ,\r/ r\ s! r..\/ A/ .\ 066J:!lr o' il":i\AdLi.il aL$d#.J€oa!F

4iJl&ll L+"-JriJl : l+lJ

-.t{jr*'c,ltjrrgJtryt rUittpr.l 6JeriJJr.ll/.1/t.o3r&liJl Op Cln\iJJlll c-G$3t.\vJs*ar.i:914-i6,pelsriPa;,j+OJ.!Lr,YClr+L.r+.1:- -

.'t..-.-r-fiayll;-a-frr ar+f,.paErtolr ,1urrr..1,r"rekJ*ilo:l,i.re Y.1v/\Y/ttuj.r'\r/'vl'\&;Jiillsle6r-LltrcuErasiJjlrir

. l+ r.att olrt i';s it*ill ,$L 6lbr 6i ,"te .tX.it, t j;;J.:*.tt q.1u"r11g!3llllr.a gr^l!elg-!4!

(+Y. ylYv.ll Yllr - rrlvylo,|,: ,.16tfv1tvt'v1 * rY.llY!'vo - rY1'1oYY I irr{f iji*Fll -{rfJ - ci$!lr*.-llrtl .t-llg.i.& ,,r YY

22I AlSed alAali Stresl - Fini fruare - Dokki- Oira Tel.: (+202) 37617375 - 37006532 - 37617370 Fu: 3761893 '33377958

wrvw.areh€g,@m

\ *4){'afrj' *\' ..i ,

Page 30: areheg.comareheg.com/wp-content/uploads/2018/11/AREH-FSC-30-09-2018.pdf · TREANDA t$rvcl;i-r..rl.1': "rU ia.r.U .F5Jl 1 # ag;E SAFWAT NOUR EL.DIN M A N A G E M E N T C O N S U LTA

1.1.., i.;E-ll fuJ'.:Jl aeJ'A*-Jl

RrnI Esrlre Eqlryrixr C.srsonrium s.A.E

<6)lr,r":r \1Aq lJ.J Yl' ;r;Ult atS-Va*:U

(+Y.Y)YvltYYIY-ffYwtoll,:edtllvltv!'Y1 -rvllYrvo-rY1.lofY:fu,i+e tjlneJl-(Jirrl-,ri$$,qr-ltrllr*llE;l"! vYY

ng NSad al Aali Strcst - Fini &uaro - Dokki - Giza Td.: (+202) 87017375 - 37606532 - 37617376 Fu: 37612393 - 33377958

www.areheg.@m