Latest news with #GDI
Egypt Independent
4 days ago
- Business
- Egypt Independent
Egypt and China sign 1st phase of debt-for-development swap program
Minister of Planning, Economic Development and International Cooperation, Rania al-Mashat, and the Chairman of the China International Development Cooperation Agency (CIDCA), Chen Xiaodong on Thursday signed five new cooperation documents aimed at boosting Egyptian-Chinese strategic relations. These include a Memorandum of Understanding for the first development cooperation strategy between the two countries for 2025/2029, and the first phase of the debt-for-development swap program. The documents were signed at the Cabinet headquarters in the New Administrative Capital. The signing was witnessed by Egyptian Prime Minister Mostafa Madbouly, and Premier of the State Council of China, Li Qiang. The two sides signed an MoU on the first development cooperation strategy between Egypt and China from 2025-2029. This aims to promote development cooperation between the two countries in line with Egypt's National Development Strategy 2030 and the Global Development Initiative (GDI). The MoU stipulates enhancing cooperation in priority areas for both sides, including healthcare, connectivity, climate change and green development, digital economy, space, education, and industrial localization, which will serve as an opportunity for joint initiatives, as well as any other areas that the two sides may agree upon during this period. The strategy also encourages exploration of additional projects that align with the GDI and Egypt's Vision 2030, including those that promote green transformation and industrial localization. This initiative builds upon the MoU signed by Mashat during her participation in the GDI meetings in July 2023. The two parties also signed the framework agreement for the first phase of a Debt Swap for Development Program, activating an MoU originally signed in October 2023. Egypt is the first country with which CIDCA has entered into this kind of development financing agreement. The Governor of the Central Bank of Egypt (CBE) Hassan Abdalla also signed a MoU with Governor of the People's Bank of China (PBOC) Pan Gongsheng, on Friday, to boost joint collaboration across various areas of mutual interest between the two banks. The signing ceremony at the Egyptian Cabinet was witnessed by the Egyptian Prime Minister Mostafa Madbouly, and Li Qiang, Premier of the State Council of the People's Republic of China, alongside senior officials from both countries. The MoU aims to promote the use of local currency settlements for cross-border financial and trade transactions, while facilitating direct investments between both sides to foster economic integration. It also includes provisions to strengthen cooperation on Central Bank Digital Currencies (CBDC). Additionally, it supports financial innovation using modern technology through conducting joint research and studies, as well as exchanging technical information and expertise. Abdalla affirmed that 'This MoU reflects the evolution of the historic ties between Egypt and China. It demonstrates both institutions' commitment to strengthening partnerships between their respective financial institutions in light of global economic developments.' Further agreements Mashat also signed the exchange of letters for a feasibility study grant for the national project to develop the prosthetics system, amounting to 1,520,000 Chinese Yuan. This project aims to make Egypt a regional hub in the Middle East and Africa for providing prosthetic limbs and assistive devices for people with disabilities, as well as possessing the manufacturing capability for them according to internationally approved standard specifications. Mashat, and the Chairman of the CIDCA, also signed an MoU on strengthening cooperation in human resources development, complementing the Ministry's role as a national coordinator for the annual training program provided by the Chinese side to the Egyptian government. Through this, the Chinese side will provide up to 2,000 training opportunities for Egypt in bilateral and multilateral training programs during the period from 2025-2027. The two sides also signed exchange of letters for the grant for the establishment of a Level-III Biosafety Laboratory, which will provide a secure environment for research, diagnosis, and the development of control measures for highly hazardous pathogens that require strict containment procedures, such as highly infectious viruses like COVID-19 and its variants.
The Star
29-06-2025
- Politics
- The Star
Thai-Cambodia border closed to cargo traffic
The Poipet border crossing, which Thai authorities closed on June 23. PHNOM PENH: The General Department of Immigration (GDI) has announced that it will not permit any type of cargo transport to enter, exit, or transit through any international border checkpoints or regional checkpoints along the Cambodian-Thai border. In a statement issued on Sunday (June 29), the GDI explained that the ban will be enforced in accordance with a directive from Prime Minister Hun Manet, who was responding to measures imposed by the Thai side on June 7 and again on June 23. 'This measure will remain in effect until the Thai side fully reopens all international and regional border checkpoints, which Thailand unilaterally closed, to resume normal operations as they were before June 7, 2025,' said the statement. Cambodia previously banned the import of Thai fruit and vegetables and suspended the import of oil and gas from Thailand. The measures were taken by the Cambodian leadership in response to various threats from Thailand. On June 23, Thai Prime Minister Paetongtarn Shinawatra ordered Thai authorities to close border crossings in seven provinces, except for medical patients and students, citing the need to combat online scam operations and cross-border crimes. On Sunday (June 29), Burapha Armed Forces requested that their immigration office in Sa Kaeo province allow cargo transport to enter and exit Cambodia through certain border checkpoints. However, Prime Minister Hun Manet instructed the Thai side to request the military – or whoever has the actual authority – to reopen the borders that have been unilaterally closed or restricted since June 7. "If Thai authorities and Thai citizens wish to see the Cambodian-Thai border checkpoints reopened, there is no need to request Cambodia. "Please request those with real authority in Thailand, whether the military or others, to restore the border checkpoints to their normal state as before June 7, and provide clear assurances that there will be no further unilateral closures or openings. "That will resolve the matter. Everything will return to normal operations as before," he said, via social media. - The Phnom Penh Post/ANN
The Market Online
25-06-2025
- Business
- The Market Online
An undervalued industrial leader with ample room to run
One of the foundational rules of investing is that you can't argue with balance sheets and income statements. Their cold, hard numbers and the trends they delineate simply are what they are, telling a clear-cut story about the underlying company's past, current health and where it's headed. Despite the clarity of this story, the broader market will often misinterpret the facts, underappreciating attractive fundamentals for unrelated, often macroeconomic reasons, heavily discounting a stock for investors who can recognize the reasons for conviction. Cash generation and proven M&A at a pessimistic price A highly prospective candidate to consider under this thesis is GDI Integrated Facility Services (TSX:GDI), market capitalization C$749.97 million, a leading commercial facility services provider across Canada and in 40 U.S. states with a nearly century-long reputation for quality and a service footprint of more than 1 billion square feet of real estate. GDI stock has fallen by 46 per cent from its all-time-high in 2021, remaining about flat since 2020, despite profitable operations, a long-tenured management team and a facility management market tailwind expected to grow on a global basis from US$175 billion in 2025 to US$345 billion by 2034, according to Precedence Research. As the North American market makes up a large portion of that global market, GDI is optimally positioned for long-term growth. The company's diversified service suite – including commercial janitorial and building maintenance, HVAC and mechanical services, building automation and energy advisory – encompasses 53 acquisitions since 2008 and collectively stands as the largest integrated facility services operation in Canada and among the top three in North America, serving an equally diversified client base spanning Class A office buildings, healthcare, education, industrial and hospitality. Here's what this trajectory looks like in GDI's financials: A 19.8 per cent revenue compound annual growth rate (CAGR) since 2008, surpassing C$2.55 billion in 2024. An 18.6 per cent adjusted EBITDA CAGR over the same period, with earnings almost doubling since 2019 and now stabilized post COVID at a margin of about 6 per cent. C$35.6 million in average annual income since 2020, granting the company flexibility to self-fund future acquisitions. Working capital reductions of C$53 million since Q3 2023, surpassing management's C$50 million goal. A 19.3 per cent reduction in long-term debt to C$358 million as of Q1 2025. GDI delivered more growth and cash flow in Q1 2025, generating C$616 million in revenue – up by 4 per cent year-over-year (YoY) – supported by a 21 per cent increase in adjusted EBITDA to C$34 million and continued reductions in long-term debt and working capital, with each business segment posting profitability in line or above management's expectations. Ending the quarter with C$25 million in cash and a leverage ratio of ~2.5x, well below management's comfort range of 3x-3.5x, GDI maintains a positive outlook in 2025 as it focuses on a prospective acquisition pipeline. Key goals for the year include: Reinforcing its Canadian leadership position, resting firmly on the segment's strong barrier to entry, being two times larger than its nearest competitor. Growing its U.S. presence by consolidating the country's highly fragmented market – see slide 10 of GDI's Q1 2025 investor presentation – leveraging its top-three North American leadership position. De-risked by an M&A strategy proven on the income statement and the expertise and dry powder to execute it, GDI is on a path towards further growth, profitability and the fostering of shareholder value. An investment today offers exposure to a data-driven case for a significant outcome as management vies to narrow the mismatch between the stock and the underlying business. Top analysts agree: GDI is a low-risk value play Our thesis only gains conviction when we measure it against top analysts from TD and Scotiabank, each of which supports GDI's undervaluation citing the company's long-established skills at capital allocation and generation. Derek J. Lessard from TD Cowen has a one-year price target of C$47 per share, which represents a 50.8 per cent return from the stock's C$31.16 price tag as of June 23. TD is forecasting increasing revenue from GDI over the next three years, including C$2.602 billion in 2025, C$2.654 billion in 2026 and C$2.715 billion in 2027, supported by: Higher adjusted EBITDA of C$154.7 million, C$163 million and C$169.9 million, respectively, up from C$137 million in 2024. A 50 per cent adjusted earnings-per-share (EPS) CAGR from C$1.61 to C$2 to C$2.26, up from C$0.67 in 2024. Falling net debt-to-adjusted EBITDA from 1.9x to 1.4x to 1x, down from 2.7x in 2024. Adjusted free cash flow of C$53.9 million, C$61.3 million and C$62.6 million, up from C$47 million in 2024. C$25-30 million from expected building sales over the coming quarters. With the Canadian downtown office vacancy rate falling quarter-over-quarter for the first time since Q1 2020, interest rates on a downward trend and a diversified customer base through which to grow, Lessard sees GDI's valuation expanding over the coming years through increasing profitability and market share. This should go a long way towards improving investor sentiment, while positioning the company to bide its time until value-accretive M&A opportunities come to light. Jonathan Goldman from Scotiabank Global Equity Research also sees GDI's value-creation engine continuing to add capacity. His price target of C$42 per share implies a 34.7 per cent year-over-year return as of June 19. Scotiabank is estimating revenue of C$2.57 billion in 2025 and C$2.63 billion in 2026, justified by: Adjusted EBITDA of C$161 million and C$170 million, respectively. Adjusted EPS of C$1.71 and C$1.84. Net debt-to-adjusted EBITDA of 1.8x and 1.4x. Robust free cash flow of C$64 million and C$57 million. According to Goldman 2026 estimates, GDI currently trades at about 6.6x on an enterprise value (EV)-to-EBITDA basis, well below the 10-year average of 9.1x, placing the company squarely in the undervalued category. A company's fundamentals don't achieve stock market recognition in a straight line, having instead to traverse the volatility of short-term sentiment on the way to value prevailing in the end. GDI's lackluster stock performance since 2020 is but the latest example, driven by: Post-COVID inflation weighing on investors, with higher consumer prices, many of which remain today despite lower CPI readings, hindering their appetite for stock market risk. The precipitous rise in remote work, also COVID-induced, currently standing at about five times the pre-pandemic level in the U.S., according to an article by Stanford economist Nicholas Bloom published through the International Monetary Fund. The global tariff regime of U.S. president Donald Trump, which has introduced unprecedented economic uncertainty across industries during a period already brimming with geopolitical tension from wars in Ukraine and the Middle East. The modest fanfare a facility services provider could be expected to command among investors, compared to, say, The Magnificent Seven, requiring long-term patience for growth and profitability to build the market's awareness and hone its assessment of fair value. While these factors are undoubtedly causing downward price pressure on GDI stock, the underlying company, as we have seen, benefits from a fortress of cash flow and clientele that allow it to go bargain hunting during uncertain economic times rather than having to batten down the hatches. In this way, the company's differentiated operations, backed up by a track record of more than 50 successful acquisitions since 2008 – with no shortage of economic crises in the background – represent a high-conviction scenario for strong long-term returns insulated from the macroeconomic worries of the day. Contrary to the boilerplate advice of waiting for stock momentum to validate your investment thesis, the abundance of evidence in support of GDI's substantial untapped upside could not be clearer. Investors are best advised to minimize value left on the table by running the company through their due diligence processes without delay. Join the discussion: Find out what everybody's saying about this facility services stock on the GDI Integrated Facility Services Inc. Bullboard and check out Stockhouse's stock forums and message boards. This is sponsored content issued on behalf of GDI Integrated Facility Services Inc., please see full disclaimer here.
Business Upturn
14-06-2025
- Business
- Business Upturn
Global Times: A new era of shared development and cultural exchange with China: Colombian Ambassador to China
Beijing, China, June 14, 2025 (GLOBE NEWSWIRE) — In an era marked by unprecedented global transformations, the world stands at a critical crossroads, grappling with deepening deficits in peace, development, security, and governance. As humanity faces unparalleled challenges during this tumultuous period, Xi Jinping, general secretary of the Communist Party of China (CPC) Central Committee and Chinese president, has put forth a solemn call to action through the Global Development Initiative (GDI), the Global Security Initiative (GSI), and the Global Civilization Initiative (GCI). The three pivotal initiatives address the pressing issues of our time, offering viable pathways and robust support for the building of a global community with a shared future. Rooted in the rich historical experiences of the CPC's century-long struggle and infused with the wisdom of China's traditional culture, these initiatives are expected to unite the world in the pursuit of common progress and stability. To offer a deep understanding of the three global initiatives, and elaborate on their significance on a global scale, the Global Times is launching a series of articles. China and Colombia signed a cooperation plan on jointly building the Silk Road Economic Belt and the 21st-Century Maritime Silk Road on May 14. The year 2025 marks the 45th anniversary of the establishment of diplomatic relations between China and Colombia. Since the establishment of diplomatic relations 45 years ago, the two countries have witnessed the steady growth of economic and trade ties with tangible results. China is now Colombia's second-largest trading partner, while Colombia ranks as China's fifth-largest trading partner in Latin America. Colombia's agricultural products, ranging from coffee to cut flowers, are becoming increasingly popular in the Chinese market. In this issue, Global Times reporters Xu Liuliu and Liu Yang (GT) spoke with Colombian Ambassador to China, Sergio Cabrera Cardenas (Cabrera), about bilateral cooperation and exchanges, as well as his insights on the GDI, the GCI, and the GSI. GT: Colombian President Gustavo Petro was in Beijing for the fourth ministerial meeting of the China-CELAC (the Community of Latin American and Caribbean States) Forum in May. On May 14, Colombia officially joined the building of the Silk Road Economic Belt and the 21st-Century Maritime Silk Road, a milestone decision in Colombia's diplomatic history. Why did Colombia make such a decision? How will the two sides expand trade through mechanisms such as cross-border e-commerce and free trade agreements? Cabrera: Colombia's accession to the Belt and Road Initiative (BRI) has been a long process that began around six years ago during the previous government. Although the previous government initiated some studies, it decided not to join. When President Gustavo Francisco Petro took office, he quickly sent copies of the memorandum to the different ministries and institutions that were somehow related to the commitments that were going to be made. It has been a two-year study process, as it is natural, in any case, that there were many people interested in strengthening the bilateral relationship with China through the BRI decision. Colombia is a country strongly influenced by the US, a country that has been its natural ally, as the US is the country with which Colombia has the most trade, so both the influence of the North and that of the business sector was a brake on the possibility of signing this agreement, but fortunately, thanks to the relationship between the Colombian Foreign Ministry and the Chinese Foreign Ministry, all the adjustments were made and the agreement was signed, and we are very satisfied to say that we were able to sign this agreement. [Signing the agreement] was a challenge for me. That is, since I arrived at the embassy, I was resolved that, whatever it took, we had to find the way to sign it, and at this moment I believe that the people who are better versed with what has been signed, are very satisfied, as this cooperation is crystallizing in projects, with the plan to start studying different initiatives and projects to move forward little by little. We are acting on taking the first step of a great march, and I think that it will strengthen e-commerce, physical commerce, education, culture, industry, and agriculture. Everything will benefit greatly from the signing of this memorandum. GT: Since being proposed in 2021, the GDI has been continuously substantialized, its implementation mechanisms increasingly refined, and practical cooperation under its framework has gradually taken shape, thereby offering China's solution to bridging the development gap in Global South countries as well as building a better world together. May I ask, what is your view on the content of the GDI? Cabrera: As for the GDI, I think this is a very important step that China has taken through President Xi Jinping, as it is an important initiative that considers the future in many aspects. China has a lot to teach the world. China is a country that has managed to strengthen, enrich, and build itself in the last 50 years. It has taken many people out of poverty, while developing industry and its technology. It is a great example for the rest of the world and especially for us Latin Americans and Colombians. The GDI , as I understand, it is the opportunity to exchange experiences and seek to walk toward the same objective, a global objective through which we can live together in peace and help each other to develop. GT: How do you view the role of the GCI in promoting cultural and people-to-people exchanges, cultural integration, and mutual understanding between China and Colombia? Cabrera: I have always thought that art, literature, and culture are not only tools but vehicles for development to get to know each other. In recent years, the cultural exchanges between Colombia and China have grown and in the future, we hope there will be many more exchanges because we have many things in common. Although we are two very different countries, we have the same love for the same literature, music, dance, and art. We like the same things and each one civilization approaches each passion uniquely. I believe that the arrival of cultural samples from another country enriches the country that receives it. Culture is important, but art is more important, as art generates emotions and feelings in any of its manifestations, such as in painting, in poetry, and in music. It makes people want to look for goodness and peace, so I think it is very important to strengthen the mechanisms of cultural and artistic cooperation between Colombia and China. GT: Security is a prerequisite for development, and humanity is an indivisible security community. The GSI aims to eradicate the root causes of international conflicts, improve global security governance, and urge the international community to join hands in injecting more stability and certainty into an unstable and changing era, so as to achieve lasting world peace and development. Under the current challenges and issues faced by the international community, how do you view the important significance of the GSI for today's world? Cabrera: I have grew up in a bipolar world in my youth, and not so long ago, we lived through the Cold War between the Soviet Union and the US. Today the world is more open, and there are many more possibilities. China, as such an important power, has entered the scene. It seems very important to me that in the search for world security, the US is not the world's policeman; the one who is going to fix the world's problems. The world is full of US military bases, which I don't think are of much use, because the world is still very imbalanced, so I think that the entry of China as a factor that contributes to reach a consensus on the interests of the peoples of the world in the search for world peace will be very important. I think it [GSI] is one of the most important initiatives that China has at this moment and toward the future. GT: How would you evaluate the China-CELAC Forum as an important platform for equal dialogue and mutually beneficial cooperation between China and Latin America? In an external environment where unilateralism is on the rise, how can China and Latin America strengthen multilateral cooperation to uphold free trade? Cabrera: The forum is an important organization for our Latin American and Caribbean region, and the union of these countries in CELAC has led to important advances and developments, and of course, the relationship between CELAC and China is very important because China is the country that is currently most interested in developing our region. It is the country that is most willing to invest in our region and that is why this forum, which just concluded, was so important, and that is why the conclusions of the forum are aligned with seeking to implement projects to help the development of the region and of each one of our countries. GT: As you say, this year marks the 45th anniversary of the establishment of diplomatic relations between China and Colombia. Ambassador, how do you evaluate the achievements of both countries in the last 45 years and the current development of bilateral relations? Cabrera: Cooperation between Colombia and China has been, and continues to be very important, and will be very important in the future. China has participated in the construction of many large Colombian projects, perhaps even the largest, such as the construction of the subway, the regional trans, and some highways. China is also somehow involved in the construction of the largest hydroelectric dam in Colombia. There are many Chinese projects related to the fight against global warming. It also provides technology transfer, with projects of communications, such as Chinese tech company Huawei. There are around 120 Chinese companies that are working in Colombia and they are helping greatly in the construction of infrastructure communications, health, and education. Aside from the signing of the adhesion to the BRI opens new possibilities, because China is generously offering opportunities for infrastructure construction and this is a moment in which our country needs to develop, needs to make big investments. There are not many interested in helping us, but China is interested in helping us. The BRI is helping countries develop big form of infrastructure with projects that benefit the people. GT: How do you see the prospects for cooperation between the two countries in cultural fields such as literature and tourism? How do you plan to promote cultural exchanges between the two countries in these sectors? Cabrera: We have talked about the importance of strengthening cultural exchanges, and we have immediate and long-term plans. This year is the 45th anniversary of the establishment of diplomatic relations between Colombia and China, so we have already carried out some activities. Books by Colombian authors have been published and translated into Chinese, as we have great writers like García Márquez and Álvaro Mutis. In addition, we also have many singers such as Shakira, which was known among the Chinese youth. I know that Shakira is interested in coming to China, and the embassy has a plan to take advantage of this year. We are also going to bring poets for meetings in China. Other projects include the film festival and every time the directors will come. We are also in talks to make a large sample of our art photography, contemporary, art and also ancient heritage. We are planning for the symphony orchestra of Colombia to return again at the end of the year, in order to celebrate the 45th years of the establishment of diplomatic relations with a great concert by the symphony orchestra of Colombia. This story first appeared in Global Times: Company: Global TimesContact Person: Anna Li Email: [email protected] Website: City: Beijing Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
13-06-2025
- Business
- Yahoo
Is Now The Time To Look At Buying GDI Integrated Facility Services Inc. (TSE:GDI)?
GDI Integrated Facility Services Inc. (TSE:GDI), might not be a large cap stock, but it saw significant share price movement during recent months on the TSX, rising to highs of CA$35.37 and falling to the lows of CA$30.10. Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price. A question to answer is whether GDI Integrated Facility Services' current trading price of CA$31.00 reflective of the actual value of the small-cap? Or is it currently undervalued, providing us with the opportunity to buy? Let's take a look at GDI Integrated Facility Services's outlook and value based on the most recent financial data to see if there are any catalysts for a price change. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. The stock seems fairly valued at the moment according to our valuation model. It's trading around 9.4% below our intrinsic value, which means if you buy GDI Integrated Facility Services today, you'd be paying a reasonable price for it. And if you believe the company's true value is CA$34.23, then there's not much of an upside to gain from mispricing. What's more, GDI Integrated Facility Services's share price may be more stable over time (relative to the market), as indicated by its low beta. See our latest analysis for GDI Integrated Facility Services Investors looking for growth in their portfolio may want to consider the prospects of a company before buying its shares. Although value investors would argue that it's the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. However, with a relatively muted profit growth of 8.8% expected over the next couple of years, growth doesn't seem like a key driver for a buy decision for GDI Integrated Facility Services, at least in the short term. Are you a shareholder? It seems like the market has already priced in GDI's future outlook, with shares trading around its fair value. However, there are also other important factors which we haven't considered today, such as the financial strength of the company. Have these factors changed since the last time you looked at the stock? Will you have enough conviction to buy should the price fluctuates below the true value? Are you a potential investor? If you've been keeping an eye on GDI, now may not be the most advantageous time to buy, given it is trading around its fair value. However, the positive outlook means it's worth diving deeper into other factors such as the strength of its balance sheet, in order to take advantage of the next price drop. Keep in mind, when it comes to analysing a stock it's worth noting the risks involved. For instance, we've identified 2 warning signs for GDI Integrated Facility Services (1 is significant) you should be familiar with. If you are no longer interested in GDI Integrated Facility Services, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
