2015 December : AsiaNet-Pakistan

Archive for December, 2015

Financial results of Adam Sugar Mills Limited for the periodended September 30, 2015

December 31, 2015 |

Karachi: Adam Sugar Mills Limited informed Karachi Stock Exchange about the recommendations made by the board of directors in the meeting held on December 31, 2015. The agenda of the meeting was discussion of profit and loss account for the period ended September 30, 2015 which portrayed a loss of Rs. 70,500,029 and loss per share 4.08 basic and diluted. Further, nil payment of cash dividend, bonus shares and right shares was agreed. The annual general meeting of the company is scheduled to be held on January 30, 2016. Further, the share transfer books of the company will remain closed from January 21, 2016 to January 30, 2016 (both days inclusive). Adam Sugar Mills Limited was incorporated in Pakistan in 1965 in the name of Bahawalnagar Sugar Mills Limited as a public limited company. In 1985 the name of the company was changed to Adam Sugar Mills Limited. The provisions and directives of the Companies Ordinance, 1984 prevail within the organization. The company is engaged in the business of manufacturing sugar. The registered office of the company is located in Karachi. The factory is situated in Punjab. The shares of the company are quoted on Karachi and Lahore stock Exchanges of Pakistan. The symbol “ADAMS” is being used by the stock exchanges for the shares of Adam Sugar Mills Limited.

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Dispatch of 3rdinterim dividend warrants of Engro Corporation Limited

December 31, 2015 |

Karachi: Engro Corporation Limited informed Karachi Stock Exchange that 3rdinterim dividend warrants at Rs.5 per share i.e. 50% for year ended December 2015 have been dispatched to all shareholders except those who have not yet provided their computerized national identity cards by registered post or through courier service on December 31, 2015. Engro Corporation Limited is a publically listed company incorporated in Pakistan under the Companies Ordinance, 1984. The company is engaged in the business of managing investments in subsidiary companies and joint venture, engaged in chemical fertilizers, PVC resin manufacturing, food, energy, exploration, LNG and liquid chemical terminal and storage businesses. The registered office of the company is located in Karachi. The shares of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The business ventures of the company started in 1957 from the search for oil by Pak Stanvac an Esso/Mobil joint venture which led to the discovery of the Mari Gas field near Daharki. Later, Esso proposed the establishment of a urea plant in that area which led to a fertilizer plant agreement signed in 1964. In the subsequent year, Esso Pakistan Fertilizer Company Limited was incorporated, with 75% of the shares owned by Esso and 25% by the general public. The subsidiary companies of the group are Engro Fertilizers Limited, Engro Foods Limited, Engro Polymers And Chemicals Limited, Engro Powergen Limited, Engro EXIMP Private Limited, Engro Vopak Terminal Limited and Elengy Terminal Pakistan Limited. The symbol “ENGRO” is being used by the stock exchange for the shares of Engro Corporation Limited.

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Financial results of Apollo Textile Mills Limited for year ended June 30, 2015

December 31, 2015 |

Karachi: Apollo Textile Mills Limited informed Karachi Stock Exchange about recommendations made by the board of directors in the meeting held at Karachi on December 30, 2015. The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2015 which portrayed a loss of Rs. 97,697,778 and loss per share 11.79. Further, nil payment of cash dividend, bonus shares and right shares was agreed. The annual general meeting of the company is scheduled to be held on January 22, 2016. Further, the share transfer books of the company will remain closed from January 15, to January 22, 2016 (both days inclusive). Apollo Textile Mills Limited is a public limited company incorporated in Pakistan. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activities of the company is creating, developing and manufacturing of yarn products which cater all the basic and high quality yarn needs in the local and international markets. The stocks of the company are quoted on the Karachi and Islamabad Stock Exchanges of Pakistan. The emphasis of the company is to respond to the emerging trends in the spinning industry and exporting yarn to international markets to the manufacturers of value added finished products. The company has several certifications ensuring quality standards using which the production is done. These are OHSAS 18001, ISO 14000, ISO 9000 and USTER Certified Company. The symbol “APOT” is being used by the stock exchanges for the shares of Apollo Textile Mills Limited.

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Extraordinary general meeting of Pakcem Limited

December 31, 2015 |

Karachi: Pakcem Limited informed Karachi Stock Exchange that extraordinary general meeting of the company will be held on January 21, 2016 at Islamabad.
The agenda of the meeting will be confirming minutes of 23rdannual general meeting held on October…

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Board meeting of Zeal Pak Cement Factory Limited will be held on January 07, 2016

December 31, 2015 |

Karachi:Zeal Pak Cement Factory Limited informed Karachi Stock Exchange that board of directors meeting of the company will be held on January 07, 2016 at the registered office.The agenda of the meeting shall be consideration of approve audited accounts for the Year ended June 30, 2014 Zeal Pak Cement Factory Limited is a company incorporated in Pakistan as a public limited company on May 9, 1957. The foundations of the company are laid under the Companies Ordinance, 1984. The company is principally engaged in the manufacturing and sale of cement, clinker, paper bags and slag cement. The shares of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located at Karachi. Zeal Pak was established in 1956 with the collaboration and financial assistance of the said two countries in materializing the project the same was named as Zeal Pak Cement Factory Ltd. i.e. “Zeal” for New Zealand and “Pak” for Pakistan. In October 1992, in pursuance of national policy of privatization of public sector industries, Zeal Pak’s management was handed over to M/s. Sardar Mohammad Ashraf D. Baluch Private Limited. The symbol “ZELP” is being used by the stock exchanges for the shares of Zeal Pak Cement Factory Limited.

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Transaction of shares of Jubilee Life Insurance

December 31, 2015 |

Karachi: Jubilee Life Insurance informed Karachi Stock Exchange about transaction of shares of the company. 500 shares @ Rs. 504 per share were purchased from the market on December 29, 2015 through CDC. Jubilee Life Insurance Company Limited incorporated in Pakistan on June 29, 1995 as a public limited company under the Companies Ordinance, 1984. The operations of the company started on June 20, 1996. The products and services which the company offers include individual life insurance, banc assurance, micro insurance, corporate insurance and priority insurance. The shares of the company are quoted at the Karachi Stock Exchange. The registered office of the company is located in Karachi. Jubilee Life Insurance is a subsidiary of the Aga Khan Fund for Economic Development, Switzerland. It is the economic development arm of the AKDN, a group of private, non-denominational development agencies. The sister concerns of the company are the Aga Khan University Hospital, Jubilee General Insurance Company Limited, the Aga Khan Health Services, Tourism Promotion Services, First Micro Finance Bank Limited, Habib Bank Limited, the Aga Khan Education Services and Focus Humanitarian Assistance. The international associate of the company includes Jubilee Insurance Kenya, Uganda, Tanzania, Burundi and Mauritius. The symbol “JLICL” is being used by the stock exchanges for the shares of Jubilee Life Insurance Company Limited.

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Board meeting of Ansari Sugar Mills Limited to be held on January 07, 2016

December 31, 2015 |

Karachi: Ansari Sugar Mills Limited informed Karachi Stock Exchange that board meeting of the company is scheduled to be held on January 07, 2016 at Karachi. The agenda of the meeting shall be consideration of annual accounts for period ended 09, 2015. Further, the closed period of the company shall be from January 23, to January 29, 2016. Ansari Sugar Mills Limited is a company incorporated in Pakistan on July 9, 1989 as a public limited company. The principal activity of the company is manufacture and sale of white sugar. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located in Karachi and its factory outlet is located District Hyderabad and District Badin. The overall crushing capacity of the company is 8000 Metric Tons per day. The products of the company are White Refined Sugar and Molasses. The symbol “ANSM” is being used by the stock exchanges for the shares of Ansari Sugar Mills Limited.

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Financial results of Bank Islami Pakistan Limited for half year ended June 30, 2015

December 31, 2015 |

Karachi: Bank Islami Pakistan Limited informed Karachi Stock Exchange about recommendations made by the board of directors in the meeting held on December 30, 2015. The agenda of the meeting was discussion of standalone and consolidated un-audited profit and loss accounts for quarter and half year ended June 30, 2015 which portrayed half year profit of Rs. 63,267 and earnings per share 0.111 basic and diluted and quarter Loss of Rs. 2,992 and Loss per share 0.00 basic and diluted. The consolidated un-audited half year profit of Rs. 71,746 and earnings per share 0.126, and quarter profit of Rs. 5,208 and earnings per share 0.009 basic and diluted. Further, nil payment of cash dividend, bonus shares and right shares was agreed. 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.

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Ambassador Designate to Bahrain calls on Prime Minister

December 31, 2015 | General Business News

Islamabad, December 31, 2015 (PPI-OT): Ambassador Designate to Bahrain Mr. Javed Malik called on Prime Minister Muhammad Nawaz Sharif at PM House today. The Prime Minister felicitated the Ambassador Designate for his new assignment and expressed the hope that he will endeavour to bring the two countries even more closer. The Prime Minister said that …

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JCR-VIS assigns initial Fund Stability Rating of Askari Sovereign Yield Enhancer

December 31, 2015 | General Business News

Karachi, December 31, 2015 (PPI-OT): JCR-VIS Credit Rating Company Limited (JCR-VIS) has assigned initial Fund Stability Rating of Askari Sovereign Yield Enhancer (ASYE) at ‘A+(f)’ (Single A Plus (f)). ASYE was incorporated in September 2012 as an open end Income fund. Based on the constitutive document of ASYE, the fund is restricted to place a …

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JCR-VIS assigns initial Fund Stability Rating of Askari High Yield Scheme at A(f)

December 31, 2015 | General Business News

Karachi, December 31, 2015 (PPI-OT): JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has assigned initial Fund Stability Rating of Askari High Yield Scheme (AHYS) at ‘A(f)’ (Single A (f)). AHYS (formerly Askari Income Fund) operates as an aggressive income fund since 2007. As per regulatory limits, the fund may take exposure in riskier assets such as …

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JCR-VIS Reaffirms Fund Stability Rating of Allied Bank Limited Cash Fund at ‘AA(f)’

December 31, 2015 | General Business News

Karachi, December 31, 2015 (PPI-OT): JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has reaffirmed the Fund Stability Rating of ABL Cash Fund (ABL CF) at ‘AA(f)’ (Double A(f)). Last rating action was taken on August 13, 2014. Established in July 2010, ABL Cash Fund operates as an open end money market fund. The fund has been …

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