Tawasul
Mubasher TV
Contact Us Advertising   العربية

Suez Canal Technology requests EGP 250m refund from Misr Insurance

Suez Canal Technology requests EGP 250m refund from Misr Insurance
October 6th University

Cairo – Mubasher: Suez Canal Company for Technology Settling requested a refund of EGP 250 million paid by its 99.68%-owned October 6th University in 2017 and 2018 to Misr Insurance Company.

The payments were part of an invalid agreement signed between Misr Insurance Company and Sayed Tonsi who was not an authorised signatory, the company said in a bourse disclosure on Monday.

During the nine-month period ended 31 May, the company logged net profits of EGP 427.13 million, up from EGP 118 million in the year-ago period.