LONG BEACH, Calif., Dec. 8, 2015 (GLOBE NEWSWIRE) — UTi Worldwide Inc. (Nasdaq:UTIW), a global supply chain services and solutions company, is proud to announce that its charitable foundation Delivering Better Lives (DBL) will be funding the building of a new Out Patients Department at Bwaila Hospital in Lilongwe, Malawi. The new department will make […]

Karachi: NIB Bank Limited informed Karachi Stock Exchange about transaction of shares of the company. 14,500 shares @ Rs 1.92 per share were purchased on December 07, 2015 through CDC. NIB Bank Limited is incorporated in Pakistan the operations of which started in October, 2003. It is a scheduled commercial bank and is principally engaged in the business of banking as defined in the Banking Companies Ordinance, 1962. The business of the bank is Consumer Banking, Commercial Banking and Wholesale Banking. The stocks of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchange of Pakistan. The registered office of the bank is located in Islamabad. The bank is a subsidiary of Bugis Investments (Mauritius) Pte. Limited which is a wholly owned subsidiary of Fullerton Financial Holdings Pte. Limited which in turn is a wholly owned subsidiary of Temasek Holdings, an investment arm of the Government of Singapore. Temasek Holdings of Singapore continues to be the largest single investor in NIB Bank with a stake in excess of 88%. The branch network of the bank includes 179 branches across the country. The symbol “NIB” is being used by the stock exchanges for the shares of NIB Bank Limited.

Karachi: Silk Bank Limited informed Karachi Stock Exchange about issuance of right shares of Rs. 10 billion through issuance of 6,410,256,410 right shares at Rs. 1.56 per share (Right Shares) at a discount of Rs. 8.44 per share, under the Companies Ordinance, 1984, subject to the approval of SECP and in furtherance to other announcements made by the Bank in this respect. Silk Bank Limited was incorporated in Pakistan on April 4, 1994 as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The bank commenced its commercial operations on May 7, 1995. The bank is engaged in the banking services as described in the Banking Companies Ordinance, 1962. The bank operates through 88 branches including 10 Islamic Banking branches in Pakistan. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the bank is located at Karachi. The major share holding of the bank i.e. 82.406% in the bank as on September 30, 2013 is held by a consortium comprising of International Finance Corporation, Nomura European Investment Limited, Bank Muscat S.A.O.G. and executives of the Sinthos Capital Advisors Limited. The symbol “SILK” is being used by the stock exchanges for the shares of Silk Bank Limited.

Karachi: Mari Petroleum Company Limited informed Karachi Stock Exchange about supplemental agreements for conversion to petroleum policy 2012 and the company’s application for grant of 2012 policy incentives for incremental production from Mari gas field. Mari Petroleum Company Limited is an exploration and production company operating at Daharki, District Ghotki, Sindh. The field is approximately 96 kilometers North of Sukkur. Esso Eastern Inc. discovered this field in 1957 with the drilling of first well – Mari X-1. The field was brought on production in 1967. The company is also joint venture partner in two exploration blocks (Kohlu & Kalchas) in Balochistan, two exploration blocks (Kohat & Bannu West) in Khyber Pakhtunkhwa, one block (Zindan) in Khyber Pakhtunkhwa / Punjab and one block (Hala) in Sindh. Moreover, the company is also joint venture partner in block 43B with 25% working interest in Oman. The symbol “MARI” is being used by the stock exchanges for the shares of Mari Petroleum Company Limited.

Karachi: Gadoon Textile Mills Limited informed Karachi Stock Exchange that on December 3, 2015, the YB Holdings (Private) Limited has acquired 4,780,500 (17.06%) shares of the company. After purchase of shares, the YB Holdings (Private) Limited owns 19,499,740 (69.57%) shares in Gadoon Textile Mills Limited. Gadoon Textile Mill Limited was incorporated in Pakistan on February 23, 1988. The commercial production of the business started in 1990. It is a public limited company under the Companies Ordinance, 1984. The company is engaged in the business of manufacturing and selling yarn. The registered office of the company is located in district Swabi. The manufacturing facilities of the company are located near Gadoon and Nooriabad near Karachi. The stocks of the company are quoted on the Karachi and Islamabad Stock Exchanges of Pakistan. The products which are manufactured by the company include compact yarn, murata jet spinning yarn, core spun yarn, compact core spun yarn, grey cotton, ring spun yarn, synthetic yarn and poly cotton yarn. The symbol “GADT” is being used by the stock exchange for the shares of Gadoon Textile Mill Limited.

Karachi: Bank Islami Pakistan limited informed Karachi Stock Exchange that State Bank of Pakistan has allowed bank’s extension for submission/publishing of half yearly accounts as of June 30, 2015 by December 31, 2015.The permission is granted to the bank in view of defunct KASB bank Limited’s merger with and into Bankislami Pakistan Limited and its conversion into an Islamic bank. The State Bank of Pakistan declared Bank Islami Pakistan Limited as a Scheduled Bank with effect from March 17, 2006. BankIslami started its Banking operations on April 7, 2006 in Karachi. The idea of Bank Islami was conceptualized by Jahangir Siddiqui & Company Limited and Randeree family in late 2003. Mr. Hasan A. Bilgrami was appointed as Adviser to the sponsors on March 16, 2004 for formalizing the idea. He presented the concept paper of Bank Islami to sponsors on March 24, 2004. A detailed business plan was then prepared and a formal application was submitted to the State Bank of Pakistan on May 26, 2004. On September 26, 2005, Dubai Bank joined the Sponsors and became one of the founding shareholders of Bank Islami by investing 18.75% in the total Capital. By the end of 2013, the bank possessed 201 branches in 77 cities nationwide. Under the Islamic banking policy of 2003 the bank acquired its Islamic banking license in 2005. The registered office of the company is located in Karachi. The core business area of the bank includes wealth management including shariah compliant and retail banking products, proprietary products and third party products. Financial planning service is also an important part of the process. The symbol “BIPL” is being used by the stock exchange for the shares of Bank Islami Pakistan Limited.

Karachi: Cherat Packaging Limited informed Karachi Stock Exchange about transaction of shares of the company. 100 shares @ Rs.268.00 per share were purchased on December 04, 2015. Cherat Packaging Limited is a company incorporated in Pakistan. The foundations of the company are laid under the Companies Ordinance, 1984. The company was converted into a public limited company in the year 1989. The principal activity of the business is manufacturing, marketing and sale of paper sack and polypropylene bags. The commercial production of the company started on December 15, 1991. It is listed on Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is situated at Peshawar. The symbol “CPPL” is being used by the stock exchange for the shares of Cherat Packaging Limited.