Arab Finance: International Company for Leasing’s (Incolease) (ICLE) ordinary general meeting (OGM) has approved the signing of a finance lease agreement with Palm Hills Development Company (PHDC) and its subsidiary Palm Hills Middle East for Real Estate Investment, according to a filing to the Egyptian Exchange (EGX) on June 16th.

It is worth noting that Incolease reported a 156.8% year-on-year (Y-o-Y) increase in net profit after tax, reaching EGP 41.317 million during the first quarter (Q1) of 2022.

Incolease is an Egypt-based company engaged in the provision of customer service and personalized financial solutions.

The company leases a range of assets, including commercial vehicles, machinery, information technology equipment, production lines, real estate, and other tangible and intangible long-term assets.