Latest news with #Badil
Morocco World
30-06-2025
- Politics
- Morocco World
Court of Appeal Upholds 18-Month Prison Sentence for Journalist El Mahdaoui
Marrakech – The Rabat Court of Appeal confirmed the first instance judgment against journalist Hamid El Mahdaoui on Monday, sentencing him to 18 months in prison and ordering him to pay a civil fine of MAD 1.5 million ($150,000) to Justice Minister Abdellatif Ouahbi. El Mahdaoui, director of the Badil news site, faced charges of 'disseminating false accusations and facts with defamatory intent, public insult, and slander,' according to articles 443, 444, and 447 of the Moroccan Penal Code. The case has ignited a firestorm of controversy across media outlets and human rights circles alike. Minister Ouahbi filed five separate complaints against El Mahdaoui with the approval of Head of Government Aziz Akhannouch. This judgment addresses one of these complaints. During the June 16 hearing, the public prosecutor requested strict application of the penal code, insisting there was clear criminal intent in the journalist's statements against Ouahbi. The prosecution cited El Mahdaoui's comments regarding a luxury car allegedly gifted by Hind El Achchabi, former head of Dalia Development Group, to Ouahbi when he served as her lawyer, suggesting potential tax fraud. Additionally, El Mahdaoui's reference to a MAD 45 million ($4.5 million) legal case between Wana and Maroc Telecom companies, in which Ouahbi acted as counsel, was also mentioned as evidence of defamation and slander. Ouahbi's lawyers, representing the civil party, supported the prosecution's position and once again demanded MAD 10 million ($1 million) in damages, the same amount requested in the first instance trial. The court ultimately maintained the lower court's award of MAD 1.5 million ($150,000). According to El Mahdaoui's defense team, this trial is part of a 'systematic harassment' campaign targeting the journalist for over a year. They claim that beyond Ouahbi's five successive complaints, the renewal of El Mahdaoui's professional press card was denied, which his supporters denounce as 'an obvious attempt to pressure him' into abandoning his critical editorial stance. Many observers contend that the case raises profound questions about press freedom, the use of criminal law to silence criticism, and the complex relationship between political power and journalists in Morocco. Tags: Abdellatif OuahbiHamid El Mahdaoui
Yahoo
06-03-2025
- Business
- Yahoo
Renaissance Services SAOG (MUS:RNSS) Q4 2024 Earnings Call Highlights: Strategic Growth Amidst ...
Release Date: March 03, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Renaissance Services SAOG (MUS:RNSS) reported a significant increase in occupancy levels, rising from 4,200 to 6,000 by the end of the year, with expectations to reach 10,300 to 11,400 in the coming year. The company maintained strong margins around 18.6% to 19% despite macroeconomic challenges, indicating robust financial health. Renaissance Services SAOG (MUS:RNSS) successfully rolled out 250,000 smart meters in December, marking the fastest rollout in the region. The UAE operations have turned profitable, contributing positively to the company's overall performance. The company is actively pursuing M&A opportunities in Oman, Saudi Arabia, and UAE, aiming to expand its geographic footprint and service offerings. The company experienced a temporary dip in occupancy levels, which affected the overall performance in certain quarters. General and administrative expenses were anomalously high in Q4, partly due to provisions and the mobilization of new contracts. Renaissance Services SAOG (MUS:RNSS) lost three significant contracts with Badil, Oxy, and another company, impacting revenue streams. The company faces intense competition in the waste management sector, with only 8.3% market share, indicating room for improvement. There is uncertainty regarding the timing and size of potential M&A transactions, which could impact strategic growth plans. Warning! GuruFocus has detected 2 Warning Sign with MUS:RNSS. Q: What is the current occupancy level in your RSVDN pack, and where do you see it going in the coming years? A: The current occupancy is around 6,000, up from 4,200 at the start of the year. We expect it to reach 10,300 by the end of the year, with a stretch target of 11,400. This growth is supported by client demand and new projects, although it won't reach the peak levels of two years ago. We anticipate significant occupancy increases in the PDO villages as well, aiming for 90% capacity by year-end. Q: How do you see your margins evolving with the recovery in occupancy? A: Our margins have remained strong, around 18.6% to 19%, despite macroeconomic challenges. Higher occupancy in Renaissance Village and contractor accommodations will lead to better margins, as these businesses have higher margins at peak occupancy compared to our pure services business. We expect Renaissance Village Duham to reach profitability this year as occupancy increases. Q: Can you provide more details on your M&A strategy and the sectors you are targeting? A: We are focusing on M&A opportunities in Oman, Saudi Arabia, and the UAE, particularly in sectors like IFM, hard FM, and waste management. Our goal is to enhance our geographic footprint and skill set. We are open to various acquisition structures, including full acquisitions and partnerships, depending on the opportunity. Q: What are the key contributors to revenue growth in Q4 2024? A: The utility sector was a significant contributor, with contracts from MADC and PDO IFM. We rolled out 250,000 smart meters in December, marking the fastest rollout in the region. This, along with the mobilization of the PDO contract, drove growth in Q4. Q: Could you elaborate on the waste management project and its contribution to revenue? A: We hold about 8.3% of the waste collection market, with contracts primarily focused on waste collection, dump site clearance, and additional services like beach cleaning. These contracts are typically seven years long, and we see opportunities for growth in waste treatment, recycling, and landfill management as privatization continues. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
