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PUBLIC FINANCIAL HOLDINGS LIMITED

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Delayed Hong Kong Stock Exchange  -  04:08 2022-06-30 am EDT
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06/28Public Financial Holdings Limited Declares Interim Dividend for the Year Ending December 31, 2022, Payable on 3 August 2022
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03/29IMF staff agree $470 million programme for Mozambique
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03/28IMF staff agree $470 million programme for Mozambique
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IMF staff agree $470 million programme for Mozambique

03/29/2022 | 03:52am EDT
FILE PHOTO: The IMF logo is seen outside the headquarters building in Washington

JOHANNESBURG (Reuters) - The International Monetary Fund and Mozambique have reached a staff-level agreement on a $470 million facility, the Fund said on Monday, in what would be the African nation's first programme since the global lender suspended support six years ago.

In 2016, Mozambique unveiled hefty state-backed borrowing it had previously failed to disclose, in a $2-billion corruption scandal that prompted donors to cut off aid and sparked a currency collapse and debt crisis.

A statement from the Fund said final approval for the three-year Extended Credit Facility was expected to come from IMF management "in the coming weeks".

"In recent years the Mozambican economy has been hit by a series of severe shocks that risk intensifying vulnerabilities and worsening socioeconomic conditions," the IMF said in a statement.

It said the government's medium-term programme focused on economic growth, fiscal sustainability, and reforms in public financial management and governance.

One of the world's most impoverished countries, Mozambique is still grappling with its hefty debt burden, as well as an Islamist insurgency and the impact of COVID-19, which led to its first economic contraction in three decades last year.

(Reporting by Marc Jones and Joe Bavier; editing by Rodrigo Campos and Paul Simao)


© Reuters 2022
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Financials
Sales 2021 1 422 M 181 M 181 M
Net income 2021 496 M 63,3 M 63,3 M
Net cash 2021 4 889 M 623 M 623 M
P/E ratio 2021 5,75x
Yield 2021 7,69%
Capitalization 2 701 M 344 M 344 M
EV / Sales 2020 -3,19x
EV / Sales 2021 -1,43x
Nbr of Employees 1 260
Free-Float 26,7%
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Managers and Directors
Yoke Kong Tan CEO, Joint Secretary & Executive Director
Hong Piow Teh Non-Executive Co-Chairman
Wan Lai Non-Executive Co-Chairman
Chin Guan Lee Independent Non-Executive Director
Chao Li Lim Independent Non-Executive Director