Cairo – Mubasher: Arab Moltaqa Investments said it will establish a new company for operating medical labs, with a capital of EGP 13 million ($1.46 million).

The company said it will contribute with a stake of 60% in the new company’s capital, equivalent to EGP 7.8 million.

Arab Moltaqa said it will establish the new firm in cooperation with a specialised German company.

The company reported net profits of EGP 656,820 for the second quarter of 2016, down by 99% from EGP 58.32 million a year earlier.