Iraq Stock Exchange News


Iraq Stock Market Market

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 2nd Aug 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD751 (-5.1%) / $806 (-5.1%) (weekly change) (-7.4% and -3.6% YTD change, respectively). The number of week traded shares was 6.4 bn and the weekly trading volume was IQD5.5bn ($4.9 mn).

ISX Company Announcements

  • The CBI participated in the opening of the representative office of the International Development Bank (BIDB) in Dubai. The opening ceremony, attended by Iraqi and foreign economic and financial figures, underscored the need for the Iraqi private banks to play a role in the development of the Iraqi economy and the development of banking. (CBI)
  • The Governor of the CBI, Ali Mohsen Ismail, accompanied by a number of general managers, made a field visit to private banks for two days. This visit came within the series of visits by the Governor to find out the obstacles facing banks, and work to remove them. (CBI)
  • AL Arabiya Islamic Bank (BAAI) will hold an AGM* on Aug. 16, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BAAI starting Aug. 12, 2018.
  • Sumer Commercial Bank (BSUC) will hold an AGM* on Aug. 12, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BSUC starting Aug. 7, 2018.
  • Dar Al-Salam for Insurance (NDSA) will resume trading on Aug. 5, 2018 after discussing and approving 2017 annual financial results as well as disclosing its 3M18 financial results.
  • National Bank of Iraq (BNOI) resumed trading on Aug. 2, 2018 after discussing and approving 2017 annual financial results and distributing 8% cash dividend (IQD0.08 dividend per share, 19.5% dividend yield).
  • Original shares of AL-Sadeer Hotel (HSAD) resumed trading on Aug. 2, 2018 after discussing and approving 2014, 2015 and 2016 annual financial results and deciding to increase its capital from IQD1.239 bn to IQD1.735 bn through 40% rights issue.
  • Al-Mansour Pharmaceuticals Industries (IMAP) resumed trading on Jul. 30, 2018 after discussing and approving 2016 and 2017 annual financial results and deciding to distribute 6% cash dividend (IQD0.06 dividend per share, 8.7% dividend yield).
  • Iraqi for Tufted Carpets (IITC) resumed trading on Jul. 30, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 50% cash dividend (IQD0.50 dividend per share, 6.5% dividend yield).
  • Cross Transactions: 255 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Aug. 2, 2018, which represents 0.1% of BCIH capital.

 

Iraq Stock Market Jumps 15% in 1 Week

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 26th July 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD792 (+15.1%) / $849 (+15.1%) (weekly change) (-2.4% and -1.6% YTD change, respectively). The number of week traded shares was 28.6 bn and the weekly trading volume was IQD9.5bn ($7.9 mn).

ISX Company Announcements

  • Al-Hamraa for Insurance (NHAM) will hold an AGM* on Sept. 10, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of NHAM starting Sept. 5, 2018.
  • Modern Sewing (IMOS) will hold an AGM* on Aug. 8, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of IMOS starting Aug. 5, 2018.
  • Ashur International Bank for Investment (BASH) will hold an AGM* on Jul. 31, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of BASH starting Jul. 26, 2018.
  • International Development Bank for Investment (BIDB) resumed trading on Jul. 25, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 5.2% cash dividend (IQD0.052 dividend per share, 6.0% dividend yield).
  • Al-Ameen for Insurance (NAME) resumed trading on Jul. 25, 2018 after discussing and approving 2017 annual financial results.
  • Iraq Noor Islamic Bank for Investment (BINI) resumed trading on Jul. 24, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 2.4% cash dividend (IQD0.024 dividend per share, 2.4% dividend yield).
  • AL-Sadeer Hotel (HSAD) will hold its AGM* on Jul. 29, 2018 to discuss and approve 2014, 2015 and 2016 annual financial results and increase the capital from IQD1.239 bn to IQD1.362 bn through 10% rights issue. ISX suspended trading of HSAD starting Jul. 24, 2018.
  • Kurdistan International Bank (BKUI) disclosed the current ownership percentages of Bahra Muhammed Yassin and Khan Adil Disco as 8.27% and 8.89%, respectively.
  • International Islamic Bank (BINT) postponed its AGM* from Jul. 24, 2018 to Jul. 31, 2018 due to the absence of some BoD members.
  • Al Janoob Islamic Bank for Investment and Finance (BJAB) started trading on Jul. 22, 2018 after 21 days of depositing the company’s shares. The company’s share price will be free only for the first three sessions.
  • Cross Transactions: 12 bn shares of Mosul Bank (BMFI) on Jul. 24, 2018, which represents 4.75% of BMFI capital. 510 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Jul. 22 and  Jul. 26, 2018, which represent 0.2% of BCIH capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 12th July 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD731 (-0.3%) / $784 (-0.3%) (weekly change) (-9.9% and -6.2% YTD change, respectively). The number of week traded shares was 4.9 bn and the weekly trading volume was IQD5.0bn ($4.2 mn).

ISX Company Announcements

  • The CBI signed a memorandum of understanding (MoU) with UnionPay International Company to contribute to the development of intelligent payment technologies and electronic payment services in Iraq. UnionPay is one of the largest companies in China and most Asian countries in this field, in addition to being the third largest international company to issue and collect cards. The CBI notes that this is the third memorandum signed by the bank in 2018 with international card companies as part of its plans to expand the use of high technology to promote card work and develop payment systems in accordance with international best practice. (CBI)
  • UK-based ONEm is partnering with Asiacell (TASC) to bring unlimited news and entertainment content from Reuters to Iraq. Asiacell subscribers can now exclusively access global news on any mobile device for 600 IQD per week. The Reuters service provides full coverage of real time news and entertainment content in Arabic delivered by SMS. (Iraq Business News)
  • Al_Rabita Al_Maliya Co (MTRA) will hold a joint GA with (Bilad Al-Sham for Money Transfer and Al-Shariq for Money Transfer) on Jul. 26, 2018 to discuss merging these three companies and deciding to change the company from a Money Transfer company into an Islamic Bank according to CBI’s approval.
  • Iraqi for Tufted Carpets (IITC) will hold an AGM* on Jul. 25, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of IITC starting Jul. 22, 2018.
  • National Bank of Iraq (BNOI) will hold an AGM* on Jul. 23, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BNOI starting Jul. 18, 2018.
  • International Development Bank for Investment (BIDB) will hold an AGM* on Jul. 18, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BIDB starting Jul. 15, 2018.
  • Iraqi Middle East Bank (BIME) completed their legal amendment of article (six) on Jul. 3, 2018 to decrease the number of BoDs from 7 members to 5 original members and other 5 alternative members.
  • Cross Transactions: 510 mn shares of Cihan Bank for Islamic & Finance (BCIH) on Jul. 8 and Jul. 11, 2018, which represent 0.2% of BCIH capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 5th July 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD733 (-5.3%) / $786 (-5.3%) (weekly change) (-9.6% and -5.9% YTD change, respectively). The number of week traded shares was 5.9 bn and the weekly trading volume was IQD12.9bn ($10.6 mn).

ISX Company Announcements

  • The Financial Action Task Force (FATF) officially announced Iraq’s exit from the follow-up area, as the CBI and Anti-Money Laundering (AML) / Combating the Financing of Terrorism (CFT) have made significant progress in improving and addressing deficiencies and meeting all its obligations towards FATF recommendations. (CBI.iq)
  • The ISX moved trading of 16 companies from the regular market to the non-regular market starting Jul. 5, 2018 due to the following reasons: 1) Due to the decrease in annual trading volume: BROI, TZNI, VWIF, NAHF, 2) Due to not trading in 2017: BEFI, 3) Due to the decrease in all indicators: NDSA, VZAF, 4) Due to being under CBI custody: BDFD, BDSI, BLAD, 5) Due to not submitting the annual reports of 2014-16: BUOI, SIGT, IKHC, ITLI, IMPI, and IFCM.
  • Al-Sadeer Hotel (HSAD) will hold an AGM* on Jul. 29, 2018 to discuss and approve 2014 and 2016 annual financial results. ISX will suspend trading of HSAD starting Jul .24, 2018.
  • International Islamic Bank (BINT) will hold an AGM* on Jul. 24, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BINT starting Jul. 19, 2018.
  • Iraq Noor Islamic Bank for Investment (BINI) will hold an AGM* on Jul. 17, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BINI starting Jul. 12, 2018.
  • New shares of Al-Mosul for Funfair (SMOF) from the capital increase from IQD400mn to IQD800mn through 100% bonus issue resumed trading on Jul. 4, 2018.
  • The following companies were suspended from trading starting Jul. 4, 2018 for not disclosing their 1Q18 financial results: INCP, IHLI, NDSA, MTMA, HBAG, HISH, IICM, ITLI, IMPI, IEAB, SILT, SIGT, SBAG, VKHF, IKHC, IFCM, IMCM, and IHFI.
  • Mamoura Real-estate Investment (SMRI) and AL-Nukhba for General Construction (SNUC) resumed trading on Jul. 1, 2018 after discussing and approving 2017 annual financial results.
  • Cross Transactions: 864 mn shares of Asiacell (TASC) on Jul. 2, 2018, which represents 0.28% of TASC capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 14th June 2018).

Note: ISX will be closed starting from June 17, 2018 to June 19, 2018 due to the religious holiday of Eid Al-Fitr. The next trading session will be held on Wednesday (June 20, 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD803 (-0.5%) / $861 (-0.5%) (weekly change) (-1.1% and +3.0% YTD change, respectively). The number of week traded shares was 7.6 bn and the weekly trading volume was IQD4.2bn ($3.5 mn).

ISX Company Announcements

  • The Central Bank of Iraq decided to allow citizens to withdraw cash from the points of sale deployed at the agents of electronic payment companies and traders in the Iraqi market. (CBI)
  • Mosul Bank (BMFI) resumed trading on June 14, 2018 after discussing and approving 2016 annual financial results.
  • International Islamic Bank (BINT) resumed trading on June 10, 2018 after providing its 2016 annual and 6M17 financial results.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 10th May 2018).

ISX will be closed tomorrow (May 13, 2018) due to the elections that will be held today (May 12). The next trading session will be held on Monday (May 14, 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD831 (-2.3%) / $888 (-2.7%) (weekly change) (+2.4% and +6.2% YTD change, respectively). The number of week traded shares was 16.9bn and the weekly trading volume was IQD21.6bn ($17.8 mn).

ISX Company Announcements

  • Trans Iraq Bank for Investment (BTRI) will hold AGM* on May 17, 2018 to discuss and approve 2017 annual results. ISX will suspend trading of BTRI starting May 14, 2018.
  • Commercial Bank of Iraq (BCOI) will hold AGM* on May 16, 2018 to discuss and approve 2016 annual financial results and distributing 4.75% cash dividend (IQD0.0475 dividend per share). ISX will suspend trading of BCOI starting May 14, 2018.
  • Credit Bank of Iraq (BROI) resumed trading on May 10, 2018 after discussing and approving 2016 annual financial results and deciding to distribute 3% cash dividend (IQD0.03 dividend per share, 4.8% dividend yield).
  • Al Nibal Al Arabya for Money Transfer (MTNI) will hold AGM* on May 15, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of MTNI starting May 10, 2018.
  • Baghdad Soft Drinks (IBSD) resumed trading on May 9, 2018 after discussing and approving 2017 annual financial results and distributing 10% cash dividend (IQD0.10 dividend per share, 2.5% dividend yield).
  • Al-Ameen Financial Investment (VAMF) will hold AGM* on May 14, 2018 to discuss and approve 2017 annual financial results. ISX suspended trading of VAMF starting May 8, 2018.
  • ISX approved the following companies to pay their annual subscription fees in installments and if these companies do not pay full installments, they will be delisted from the ISX:  Dar Es Salaam Investment Bank (BDSI), Dijlah & Furat Bank for Development (BDFD), Modern Paint Industries (IMPI), Al -HiLal Industries (IHLI), Iraqi Carton Manufactories (IICM) and Babylon Bank (BBAY).
  • Cross Transactions: 11.95 bn shares of Al-Qabedh Islamic Bank for Finance & Invest. (BQAB) on May 7 and May 9, 2018, which represent 4.78% of BQAB capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th Mar 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD927 (-1.2%) / $878 (-1.2%) (weekly change) (+14.3% and +17.1% YTD change, respectively). The number of week traded shares was 20.3bn and the weekly trading volume was IQD11.9bn ($9.7mn).

ISX Company Announcements

  • Al-Mansour Bank (BMNS) will hold AGM* on Mar. 29, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BMNS starting Mar. 26, 2018.
  • Iraqi Land Transport (SILT) will hold a GA on Mar. 18, 2018 to elect new BoDs as private sector representatives. The company has been suspended since Aug. 6, 2017 for not disclosing 2016 annual financial results.
  • Metallic & Bicycles Industries (IMIB) will be suspended from trading on Mar. 18, 2018 if the company fails to explain why the prices touched the lower limit on Mar. 14 and Mar. 15, 2018.
  • National Chemical & Plastic Industries (INCP) will be suspended from trading on Mar. 18, 2018 if the company fails to explain why the prices touched the lower limit on Mar. 14 and Mar. 15, 2018.
  • Original shares of Al-Mosul for Funfairs (SMOF) resumed trading on Mar. 11, 2018 after discussing and approving 2013 annual financial results and increasing the capital from IQD400 mn to IQD800 mn through 100% bonus issue.
  • Iraqi Agricultural Products (AIRP) resumed trading on Mar. 11, 2018 after electing five BoD members as private sector representatives.
  • ISX requested Al Taif Islamic Bank to submit a number of documents in order to be started trading in the banking sector as an Islamic Bank.
  • ISX requested Dar Al-Salam for Insurance (NDSA) to provide updates regarding the capital increase process.
  • ISX requested Al-Karada Court to set up a new date to auction 40 mn shares of AL- Batek Financial Investment (VBAT) and 50 mn shares of Al-Hamraa for Insurance (NHAM) owned by Sadiq Abdul-Hadi Faraj for the payment of debt to Bilad Islamic Bank (BLAD). The court representative didn’t attend the auction on Mar. 12, 2018.
  • According to ISX announcement on Mar. 12, 2018, Rabee Securities will hold a GA on Mar. 27 to elect five BoD members and other five alternative members.
  • Cross Transactions: 6.0 bn shares of Iraqi Islamic Bank (BIIB) on Mar. 13, 2018, which represents 2.4% of BIIB capital.

Iraq Stock Market Report

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th Mar 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD939 (-0.5%) / $990 (-0.7%) (weekly change) (+15.7% and +18.5% YTD change, respectively). The number of week traded shares was 9.9bn and the weekly trading volume was IQD6.9bn ($5.6mn).

ISX Company Announcements

  • ISX announced that no bond from the first issue has been deposited due to the short listing period. ISX closed their trading channels on Mar. 5, 2018 for the first issued bond because the maturity date of the first issued bond is Mar. 14, 2018 according to the instructions of bonds trading.
  • The Central Bank of Iraq (CBI) organized a workshop aimed at introducing the project to settle the salaries of state employees in the office of the province of Maysan. A number of Iraqi banks participated in the workshop. (CBI)
  • Erbil Bank for Investment and Finance (BERI), having IQD265bn paid-in capital, started depositing their shares and will start trading in the non-regular market on Mar 27, 2018. The price will be free for the first three sessions and then will have +/-20% price change limit.
  • Al-Khatem Telecom (TZNI) will hold AGM* on Mar. 13, 2018 to discuss and approve 2016 annual financial results. ISX suspended trading of TZNI starting on Mar. 8, 2018.
  • Gulf Insurance and Reinsurance (NGIR) will hold AGM* on Mar. 12, 2018 to discuss and approve 2016 annual financial results. ISX suspended trading of NGIR on Mar. 7, 2018.
  • Iraqi Agricultural Products (AIRP) will hold a GA on Mar. 8 to elect five BoD members, as private sector representatives. ISX suspended trading of AIRP on Mar. 5 and AIRP will resume trading on Mar. 11, 2018.
  • ISC decided on Mar. 4, 2018 to keep Zain Al-Iraq Islamic Bank for Investment (BZII) suspended from trading until the bank discloses the reason for not completing the quorum on Feb. 11, 2018.
  • Al Taif Money Transfer (MTAI), having IQD100bn paid-in capital, has completed procedures to convert the company from a money transfer company into an Islamic Bank. The name of the bank will be Al Taif Islamic Bank.
  • According to the letter of Companies’ Registrar published by the ISX on Thursday, Companies’ Registrar confirmed that Rabee Securities completed all the required legal procedures to convert the company from a Limited Liability Company into a Private Joint Stock Company by increasing its capital from IQD2.00 bn to IQD2.05 bn.

Stock Market Up 25% since End-October

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th Feb 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD951 (+2.7%) / $991 (+2.7%) (weekly change) (+17.2% and +18.6% YTD change, respectively). The number of week traded shares was 7.1bn and the weekly trading volume was IQD7.9bn ($6.3mn).

ISX Company Announcements

  • Al-Mosul for Funfairs (SMOF) will hold AGM* on Mar. 4, 2018 to discuss and approve 2013 annual financial results and increasing the capital from IQD400mn to IQD800mn through 100% bonus issue. ISX will suspend trading of SMOF starting Feb. 27, 2018.
  • Babylon Hotel (HBAY) will hold a GA on Mar. 1, 2018 to discuss the offer of deferred investment contract postponed from the previous AGM held on Nov. 19, 2017.  ISX will suspend trading of HBAY starting Feb. 26, 2018 and the company will resume trading on Mar. 4, 2018.
  • Mouta for Remittance (MTMO) will hold a GA on Feb. 26, 2018 to elect a new BoD. The company has been suspended since Jan. 21, 2018 because the company was converting from money transfer company into an Islamic bank.
  • Iraqi Agricultural Products and Marketing Meat (AIPM) will hold a GA on Feb. 20, 2018 to elect a new BoD. ISX suspended trading of AIPM starting Feb. 15, 2018 and the company will resume trading on Feb. 21, 2018.
  • Asiacell (TASC) will be suspended from trading on Feb. 18, 2018 if the company fails to explain why the prices touched the higher limit in the last two trading sessions (Feb. 14-15, 2018).
  • AL- Kindi of Veterinary Vaccines Drugs (IKLV) will hold AGM* on Feb. 18, 2018 to discuss and approve 2016 annual financial results. ISX suspended trading of IKLV starting Feb. 13, 2018.
  • Commercial Bank of Iraqi (BCOI) announced that it will start distributing 2.6% cash dividend (IQD0.026 dividend per share) from 2015 profit starting Feb. 18, 2018.
  • Ashur International Bank for Investment (BASH) resumed trading on Feb. 12, 2018 after discussing and approving 2016 annual financial results.

Iraqi Stock Market Continues to Climb

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Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 8th Feb 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD926 (+5.7%) / $966 (+5.9%) (weekly change) (+14.2% and +15.5% YTD change, respectively). The number of week traded shares was 11.3bn and the weekly trading volume was IQD8.6bn ($6.9mn).

ISX Company Announcements

  • According to the letter (dated Jan. 29, 2018) sent to Al-Rafidain Bank, Al-Rasheed Bank, and Trade Bank of Iraq (TBI) related with treasury bonds regulations and payments to contractors for 2018, Central Bank of Iraq (CBI) will pay the past due payments to contractors on behalf of the Ministry of Finance (MoF) after the completion of the auditing by the Federal Board of Supreme Audit. In the letter it was mentioned that the bond’s annual interest will be 5% with a maturity of three years. The Ministry of Planning will prepare the list of names and contractors and the amounts due to them and send it to the MoF. The role of the CBI is to deliver the bonds to the contractors according to the required payments. (CBI)
  • The Anti-Money Laundering (AML / CFT) Council announces the preparation and issuance of the National Strategy for Combating Money Laundering and the Financing of Terrorism for the years 2017-2020 according to the international requirements, which is the first strategy in Iraq in this regard. (CBI)
  • Regarding the request of ISC from Economy Bank for Investment (BEFI) on Dec. 14, 2017 to clarify unclear items in 2016 annual financial results since their earlier clarifications weren’t clear and financial statements do not represent the current financial position of the bank, ISC mentioned that the bank replied that these cases will be amended in 2017 annual financial results. ISC declared that the problems remain unsolved and the report is unclear and thus the BEFI will remain suspended from trading until these issues will be resolved.
  • According to Bada’a Al-Karada court decision on Aug. 28, 2017, ISX will auction starting March 6, 2018 North Bank (BNOR) shares amounted 4.8 bn owned by Omer Mohammed Ahmed Al-Jaff for payment of IQD2.3 bn debt to Al-Mansour Bank (BMNS).
  • Iraq Noor Islamic Bank for Investment (BINI) will hold a GA on Feb. 22, 2018 to elect a new BoD. ISX will suspend trading of BINI starting Feb. 19, 2018. BINI will resume trading on Feb.25, 2018.
  • Metallic & Bicycles Industries (IMIB) disclosed signing investment contracts with the Chinese Company for Motorcycles Production and the British Himalaya Enterprise.