Karachi, NIB Bank Limited informed Pakistan Stock Exchange that extraordinary general meeting of the company is scheduled to be held on January 23, 2017 at Islamabad. Further, the closed period of the company is from January 16, 2017 to January 23, 2017 (both days inclusive). 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, MCB Bank Limited informed Pakistan Stock Exchange that extraordinary general meeting of the company is scheduled to be held on January 23, 2017. The agenda of the meeting will be Approval of the scheme of amalgamation of NIB Bank Limited with and into Bank by way of amalgamation/merger of bank with and into bank share swap arrangement. Further, the closed period of the company is from January 16, 2017 to January 23, 2017 (both days inclusive). MCB Bank Limited was incorporated in Pakistan on July 9, 1947. MCB bank was nationalized in 1974 as pat of Government of Pakistan’s economic reform movement. It was later privatized to Nishat Group in 1991. The bank has a domestic network of over 1208 branches, 27 Islamic banking branches and over 690 ATMs across Pakistan. It is also recognized and traded on the international markets. The bank has been acknowledged and awarded by Euromoney, MMT, Asia Money, SAFA (SAARC), The Asset and The Asian Banker. The ordinary shares of the bank are listed on Karachi, Lahore and Islamabad Stock Exchanges within Pakistan whereas its global depository receipts are traded on the international order book system of the London Stock Exchange. The registered office of the bank is located in Lahore. The bank is engaged with commercial banking and related services. The entire MCB Group includes MCB Financial Services Limited, MNET Services Private Limited, MCB Trade Services Limited, MCB- Arif Habib Savings and Investments Limited and MCB Leasing Closed Joint Stock Company. The symbol “MCB” is being used by the stock exchanges for the shares of MCB Bank Limited.

Karachi, Dewan Sugar Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on December 28, 2016. The agenda of the meeting was discussion of profit and loss account for year ended September 30, 2016 which portrayed a loss of Rs. 695,892,768 with loss per share 10.46 basic and diluted respectively. Further, nil payment of cash dividend, bonus shares and right shares was agreed. Furthermore, the share transfer books of the company will remain closed from January 23, 2017 to January 30, 2017 (both days inclusive). Dewan Sugar Mills Limited is a company incorporated in Pakistan. The foundations of the company are laid under the Companies Ordinance, 1984. The company is engaged in manufacturing and sale of white refined crystalline sugar, processing and trading of by-products and other related activities and allied products. The stocks 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 the manufacturing facility of the company is located in Thatta. The symbol “DWSM” is being used by the stock exchanges for the shares of Dewan Sugar Mills Limited.

Karachi, Pakistan State Oil Company Limited informed Pakistan Stock Exchange about appointment of Mr. Rashid Umer Siddiqui as Company Secretary with effect from December 26, 2016 in place of Ms. Ayesha Afzal. Pakistan State Oil Company Limited is a public limited company incorporated in Pakistan in 1976. The foundations of the company are laid using the Companies Ordinance, 1984. The principle activities of the company are procurement, storage and marketing of petroleum and related products. The company is also known for blending various kinds of lubricating oils. The stocks of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan. The registered office of the company is located in Karachi. The products which the company sells include Motor Gasoline, High Speed Diesel, Furnace Oil, Jet Fuel, Kerosene, CNG, LPG, Petrochemicals and Lubricants. The distribution network of the company comprises of 3,689 outlets out of which 3,500 outlets serve the retail sector and 189 outlets serve the bulk customers. In addition to retail customers more than 2,000 industrial units, business houses, power plants and airlines are being fueled by the company. The associated companies of PSO are Asia Petroleum Limited with 49% shareholding and Pak Grease Company Limited with 22% shareholding percentage. The industry association and trade bodies of the company include Management Association of Pakistan and World Economic Forum. The symbol “PSO” is being used by the stock exchanges for the shares of Pakistan State Oil Company Limited.

Karachi, December 29, 2016 (PPI-OT):Chairman PCB Shaharyar M Khan inaugurated Hanif Muhammad’s Karachi High-Performance Centre (HPC) today in Karachi where Chairman Executive Committee Najam Sethi, COO Subhan Ahmad, BOG Members, […]

Lahore, December 29, 2016 (PPI-OT):Outgoing Chinese Consul General, Yu Boren met Punjab Chief Minister Muhammad Shehbaz Sharif, today. The Chief Minister paid rich tributes to the services of Yu Boren […]

Lahore, December 29, 2016 (PPI-OT):Punjab Chief Minister Muhammad Shehbaz Sharif has said that work continuing speedily on power projects is unprecedented. He said that energy projects will start generating thousands […]