Books by Hani Al-Houti
Saturday, May 13, 2023 02:00 AM
The Central Auditing Organization recommended Heliopolis Housing and Development Company to disclose to the Egyptian Stock Exchange the 50-acre land exchanged for the expropriated land in Heliopolis neighborhood, and deposits frozen by Banque du Caire for the requirements of the loan granted to the company, amounting to 30 million pounds, and 100 million pounds bank. SAIB overdraft guarantee, notes receivable amounting to EGP 8.6 million as a rental guarantee for Aspire International.
The Central Auditing Organization also recommended that the necessary measures be taken to recover the company’s rights from the Al-Tasheed Real Estate Development Company for the payment of the installments due on it amounting to 76.5 million pounds, the value of 15 installments due for payment from the period October 1, 2021 until December 1, 2022, in addition to fines for delay in a contract. Selling the company’s share in the land of 13,931 square meters, as a deduction from the holding company’s dues in light of the undertaking issued by it.
-In the same context, the agency recommended that measures be taken regarding the collection of customers’ arrears (lands – buildings – rents – transfers of rights) amounting to 312.268 million pounds on December 31, 2022, some of which were carried forward from years ago, and lawsuits were filed regarding them that are still circulating before the judicial authorities, in order to preserve the rights The company, and make the necessary adjustments in the light of Egyptian Standard No. (49).
-The “Central Accounting” criticized the “Heliopolis” failure to disclose the sale of land to Zahraa Maadi Company, and the disclosure of other debit balances of the holding company in violation of Egyptian Accounting Standard No. Customer maintenance deposits amounting to 45 million pounds.
The Central Auditing Organization demanded that the agency be provided with a plan to exploit the Helio Park land in New Cairo, owned by the company for years to date, with an area of 1,659 acres, as well as the necessary studies to re-evaluate the price of the land in line with current economic developments.
#Egypt
