Issue link: https://maltatoday.uberflip.com/i/982634
maltatoday | WEDNESDAY • 16 MAY 2018 12 BUSINESS Market Summary as at 15/05/2018 Equity Official List Session State ................................................................... Market Closed Trading Date .................................................................... 15-May-2018 Number of Trades ............................................................. 87 Turnover ......................................................................... €877,309.72 MSE TRX Index ................................................................. 8,497.058 (Change: 0.337%) Bank of Valletta plc ....................... 1.740 -0.57% Mapfre Middlesea plc .................... 2.040 0.00% FIMBank plc .................................. 0.550 0.00% MIDI plc ........................................ 0.370 0.00% GlobalCapital plc ........................... 0.320 0.00% Plaza Centres plc ........................... 1.040 0.00% GO plc ........................................... 3.480 0.00% RS2 Software plc ........................... 1.230 -0.81% Grand Harbour Marina plc ............. 0.750 0.00% Simonds Farsons Cisk plc .............. 6.700 0.00% HSBC Bank Malta plc ..................... 1.750 3.55% Tigné Mall plc................................ 0.960 0.00% International Hotel Investments plc 0.630 0.00% Pefaco International plc ................ 2.240 0.00% Lombard Bank Malta plc ................ 2.30 -0.86% Santumas Shareholdings plc ......... 1.500 0.00% Malita Investments plc................... 0.840 0.00% Malta Properties Company plc ....... 0.470 0.00% Malta International Airport plc ....... 4.900 0.00% PG plc ........................................... 1.280 0.00% MaltaPost plc ................................ 1.800 0.00% Trident Estates plc ......................... 1.540 0.65% Medserv plc .................................. 1.100 0.00% MSE Index Regular market closed –15/05/2018 Symbol Code Volume Traded Value Traded Trades High Price Low Price Open Price Close Price Change t BOV 23,800 41,500.00 4 1.750 1.740 1.750 1.740 -0.010 l GO 23,619 82,194.12 6 3.480 3.480 3.480 3.480 0.000 s HSB 21,335 36,958.42 9 1.750 1.700 1.700 1.750 0.060 l IHI 3,000 1,890.00 1 0.630 0.630 0.630 0.630 0.000 t LOM 4,339 9,979.70 2 2.300 2.300 2.300 2.300 -0.020 l MPC 22,000 10,340.00 1 0.470 0.470 0.470 0.470 0.000 t RS2 9,840 11,925.96 5 1.230 1.200 1.230 1.230 -0.010 s TRI 5,000 7,700.00 1 1.540 1.540 1.540 1.540 0.010 t G20A 6,989 7,735.43 1 110.680 110.680 110.680 110.680 -0.040 t G22B 26,000 30,215.60 3 116.220 116.210 116.220 116.210 -0.130 t G24A 55,000 64,317.00 1 116.940 116.940 116.940 116.940 -0.360 t G28A 13,000 17,383.60 2 133.720 133.720 133.720 133.720 -0.420 t G28B 30,000 39,307.50 2 131.030 131.000 131.030 131.000 -0.430 s G35A 1,000 1,051.40 1 105.140 105.140 105.140 105.140 0.030 t G39A 25,000 25,500.00 2 102.000 102.000 102.000 102.000 -0.190 t G40A 86,400 102,053.84 5 118.160 118.060 118.160 118.060 -0.600 s 1923A 32,000 33,104.70 8 103.900 102.950 102.950 103.900 1.400 l BV18 60,000 60,000.00 1 100.000 100.000 100.000 100.000 0.000 l BV19A 42,500 43,562.50 1 102.500 102.500 102.500 102.500 0.000 l IH24A 3,500 3,788.75 2 108.250 108.250 108.250 108.250 0.000 s IH26A 19,000 19,823.00 8 104.500 104.000 104.000 104.500 0.500 l MB24A 25,000 25,625.00 1 102.500 102.500 102.500 102.500 0.000 l MI21 13,700 14,316.50 1 104.500 104.500 104.500 104.500 0.000 t MI22A 23,500 24,026.90 3 102.250 102.240 102.250 102.240 -0.010 s MS26A 50,000 51,495.00 1 102.990 102.990 102.990 102.990 0.010 t SD27A 5,400 5,667.30 1 104.950 104.950 104.950 104.950 -0.050 l ST27A 35,500 37,097.50 3 104.500 104.500 104.500 104.500 0.000 l VH24A 64,000 64,620.00 10 101.000 100.900 100.900 101.000 0.000 s VR27A 4,000 4,130.00 1 103.250 103.250 103.250 103.250 0.250 Advocacy for Legacy joins forces with Caritas INSPIRED by the precepts of social justice, solidarity, social inclusion and respect for human dignity, Advocacy for Legacy is committed to advancing the life chances and opportunities for all in Maltese society with specific emphasis on empowering those most vulnerable to social exclu- sion, risk of poverty and poverty, including children and the elder- ly, to realise their aspirations and full human potential. While we're in the formalising phase to set the initiative within the context of a social enterprise through a foundation, Jesmond Saliba, the Executive Chairman of Corporate ID Group and the founder of Advocacy for Legacy felt one could not be on stand- by in view of the recent incident where Mario Farrugia and Ther- ese Micallef; an elderly couple who have visual impairment, were robbed of their savings which in their own words as re- ported on One News, were all they had and what they had saved to have enough money for their own funerals. In view of this, A4L teamed up with Caritas Malta, so that during this month those who want to donate for the needs of this couple will be able to do so by making their donation through Caritas. The Bank of Valletta Account is numbered: BAN MT24 VALL 2201 3000 0000 1860 5345 026 / BIC/SWIFT: VALL MTMT The donations will be collected between today and the 30th of May 2018. It's important that in every donation, the donation is marked A4L, in the details sec- tion. Jesmond Saliba thanked Leonid Mackay, CEO of Caritas Malta for his immediate support for this initiative and both have also agreed that this incident will serve as a starting point to col- laborate and delve further in this subject and together explore av- enues of advocacy aimed towards the cause. Leonid Mackay said the mis- sion of CARITAS is to alleviate poverty and promote human de- velopment and social justice, wit- nessing to the Christian faith and Gospel values. While raising pub- lic awareness of poverty and in- justice it facilitates co-operation within and beyond the Caritas organisation in order to address the old and new faces of poverty and acts as the voice of the poor and enables the poor to become agents for change. Mackay and Saliba said that this initiative is a tangible way how our missions are achieved in syn- ergy for a common cause and the common good. Challenges of family business transfer need addressing THE challenges faced by fam- ily businesses and their difficul- ties to survive across generations were discussed during a business breakfast which was organised by the Malta Chamber of Com- merce, Enterprise and Industry in collaboration with Bank of Valletta on 8th May 2018. Successful Succession Strate- gies brought together key play- ers, and experts in the field, as well as members of prominent family businesses who managed to make the succession process a success. Addressing the delegates, Malta Chamber President Frank V. Farrugia said that family busi- nesses were the backbone of Malta's economy so it was in the country's best interest to foster a favourable environment for family-run enterprises. He added that several challenges and un- certainties must be overcome throughout the lifetime of a fam- ily business, particularly when transferring from second to third generation and beyond. "The presence of business fun- damentals such as good govern- ance structures, reliable and sta- ble teams, motivated leadership and sound business plans are necessary for every business," he said. For Albert Frendo – Chief Credit Business Development Officer at Bank of Valletta, the resilience of family businesses is what sets them apart. He said that, "Managing the interests of the family and the business concurrently is no easy feat. The current generation inherited the business from the previous one, and its success will be measured on its effectiveness in passing on the business to the next genera- tion in a better state, relevant and valid for its time, with the poten- tial to grow further." He explained that one should be passionate about the business goals, however vis-à-vis the day- to-day management of the busi- ness, a meticulous approach is required. Speaking about the Bank's in- volvement, Frendo explained that Bank of Valletta is keen to support players in this sector. Moderated by Etienne Borg Cardona, a panel discussion fea- turing three well-established en- trepreneurs discussed the strate- gies behind the success of their business' transition across gen- erations. Malta Chamber Council mem- ber Liz Barbaro Sant who is the Director of Alberta Group un- derlined the importance of start- ing planning for succession early in the day. She said that for suc- cessful succession, it is important to have valid people at Board and Management level, while it is cru- cial for emotions to be addressed and well managed. She also not- ed that patience is a key factor throughout the process. Louis Farrugia – Chairman of Farsons Group of Companies, said succession is not the end. He stressed the importance of family members furthering their stud- ies, as well as for their talents to be nurtured well ahead. Farru- gia spoke about the importance of getting expert hands on deck from outside the family circle, which according to him made the difference. Former Malta Chamber Presi- dent Anton Borg, Managing Di- rector of Eurosupplies Ltd, said that businesses ought to identify who the leaders in the family were from early on. He emphasised the importance of keeping the best interest of the business a priority and avoiding the pitfalls of get- ting too emotional. Borg warned against underestimating the fu- ture generations, as he said that it was vital for them to be rewarded handsomely in order to keep them interested in the family business.