January 13, 2017 in Board Meetings Short URL

Karachi, Kot Addu Power Company Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on February 16, 2017 at Lahore. The agenda of the meeting will to consider the quarterly accounts for the period ended December 31, 2016. Further, the Company has declared the closed period from January 13, 2017 to February 16, 2017 Kot Addu Power Plant was built by the Pakistan Water and Power Development Authority in five phases between 1985 and 1996. It is located in Kot Addu, district Muzaffargarh, Punjab. In April 1996, Kot Addu Power Company Limited was incorporated as a public limited company under the Companies Ordinance, 1984 with the objective of acquiring the Power Plant from WAPDA. The principal activities of KAPCO include the ownership, operation and maintenance of the power plant. Successful completion of the offer for sale by the privatization commission on behalf of WAPDA in February 2005, 18% of KAPCO’s shareholding is now held by the general public. KAPCO is listed on the Karachi, Islamabad and Lahore Stock Exchanges of Pakistan. KAPCO is an independent power producer with a capacity of 1600 MW. It comprises of ten multi fuel fired gas turbines and five steam turbines which are divided into three energy blocks with each block having a combination of gas and steam turbines. The power plant operates using combined cycle technology which enables it to use the waste heat from the gas turbine exhaust to produce steam in the heat recovery steam generator. It is a multi fuel gas turbine power plant with the capability of using natural gas, low sulphur furnace oil and high speed diesel to generate electricity. The symbol “KAPCO” is being used by the stock exchange for the shares of Kot Addu Power Company Limited.

Islamabad, January 13, 2017 (PPI-OT): President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former Provincial Minister Mian Zahid Hussain on Friday said milk production...

Islamabad, January 13, 2017 (PPI-OT): UBL Fund Managers Limited (UBL Funds) announced the launch of the Al-Ameen Islamic Active Allocation Plan–VII, under the Al-Ameen Islamic Financial Planning Fund – II. This Plan is now open for subscription.

The investment policy of Al-Ameen Islamic Active Allocation Plan-VII (AIActAP-VII) is approved by Shariah Advisors Mufti Muhammad Hassaan Kaleem and Mufti Muhammad Najeeb Khan.

The plan actively allocates investments between Islamic equity and Islamic income/money market mutual funds, based on the Fund Manager’s outlook on these asset classes, with an aim to achieve potentially high returns. The Plan has a term of two years and is ideal for investors who wish to benefit from the equity market and desire active management of their investment portfolios.

Yasir Qadri, Chief Executive Officer, UBL Funds, said “The Al-Ameen Islamic Active Allocation Plan series has been well received by investors. Al-Ameen Islamic Active Allocation Plan–VII is the seventh tranche in the series and is an ideal investment avenue for those who wish to take up to 100% exposure to equities.” He further added “With the rapid development of China-Pakistan Economic Corridor (CPEC) and interest of foreign investors in Pakistan, the local financial market has shown quite a positive performance. Right now it is the ideal time for investors to invest especially for a longer period of time. Al-Ameen Islamic Active Allocation Plan–VII will smartly invest and disinvest between Islamic Equities and Islamic Income / Money Market based mutual funds, depending on the Fund Manager’s outlook on asset classes.”

AIActAP-VII will be investing in Al-Ameen Islamic Dedicated Equity Fund to take exposure to Equities, while investing in Al-Ameen Islamic Sovereign Fund (AISF) and/or Al-Ameen Islamic Cash Fund (AICF) to take exposure to the Income/Money Markets.

For more information, contact:
Head of Marketing and Alternative Distribution Channels
UBL Fund Managers Limited
4th Floor, STSM Building,
Beaumont Road,
Karachi
Tell: +92-21-111-825-262 Ext. 161
Fax: +92-21-35622793
Cell: +92-300-8251222
Email: rlatif@ublfunds.com

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