Cairo – Mubasher: The extraordinary general meeting (EGM) of the General Company for Ceramic and Porcelain Products (Sheeni) approved a decision to transfer the ownership of some of its assets to settle a part of its debt to Metallurgical Industries Holding Co. 

Sheeni has one year to pay the remaining debt owed to Metallurgical Industries Holding Co. and then interest will be charged after that year, according to a bourse disclosure on Monday. 

During the first 11 months of fiscal year (FY) 2020/2021, Sheeni incurred net losses of EGP 5.23 million, compared to EGP 40.88 million in the year-ago period.