A Cairo criminal court has placed the Muslim Brotherhood on its list of designated terrorist groups and reportedly included Juhayna’s Chairman & CEO Safwan Thabet (among other prominent figures) on a list of individuals with affiliation to the Muslim Brotherhood, Al Shorouk newspaper reported. The court decision will result in freezing Thabet’s assets for another three years in addition to cancelling his passport and remaining on a no-fly list. The court allows for an appeal of the decision within 60 days.   In August 2013, Thabet was subject to an asset freeze and referred to an administrative court for the same reason. Our understanding was that the administrative court was close to ruling in favour of Thabet. While this has no bearing on Juhayna operationally, we believe the stock may come under pressure today on the news. The company will issue a press release later today. (company, Hatem Alaa, CFA , Nada S. Amin)   Juhayna: EGP6.20 as of 17 Jan 2017, Rating: Buy, TP: EGP7.00 per share, MCap: USD314mn, JUFO EY / JUFO.CA