2017 December 18 : AsiaNet-Pakistan

Archive for December 18th, 2017

PACRA Maintains Entity Ratings of Pak-Libya Holding Company (Private) Limited

December 18, 2017 | General Business News

Lahore, December 18, 2017 (PPI-OT):The ratings of Pak Libya reflect the sovereign parentage – jointly owned by Governments of Pakistan and Libya. However, so far, this strength has not translated fully in supporting the entity in meeting deficiency in its regulatory capital requirement. The approval for further extension in compliance with capital requirement remains dependent …

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PACRA Maintains Entity Ratings of PAIR Investment Company Limited

December 18, 2017 | General Business News

Lahore, December 18, 2017 (PPI-OT):The ratings assigned to PAIR take into account its shareholders’ profile, with two sovereigns, Pakistan and Iran, having an equal stake in the company with shares held through Ministry of Finance and Iran Foreign Investment Company (IFIC), respectively. PAIR has been able to sustain its lending portfolio, both in volumes and …

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Board Meeting of Ghani Glass Limited

December 18, 2017 | Board Meetings

Karachi, Ghani Glass Limited informed Pakistan Stock Exchange that the Board of Directors in its meeting held on December 18, 2017 at Lahore has elected Mr. Zaid Ghani as the Chairman and Mlr. Imtiaz Ahmad Khan as the Chief Executive Officer of the Company for the next three years. Ghani Gasses Limited was incorporated in Pakistan during November 2007 as a private limited company. During February 2008 the company was converted into a public limited company. In 2009 the company set up a plant near Lahore and in 2014 a plant near Port Qasim for manufacturing liquid industrial and medical gases. The company is ISO 9001: 2008 certified. The registered office of the company is located in Lahore. The company manufactures liquid oxygen, liquid nitrogen, liquid argon and calcium carbide which are used for industrial and commercial usage in oil and gas industry, live stock, automotive industry, health care industry, pharmaceuticals industry, steel and iron mills, food and beverages, chemical industries and many other related industries. The symbol “GGL” is being used by the stock exchange for the shares of Ghani Gases Limited.

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Board of Directors meeting of Shahmurad Sugar Mills Limited

December 18, 2017 | Board Meetings

Karachi, Shahmurad Sugar Mills Limited informed Pakistan Stock Exchange that Board of Directors meeting of the Company will be held on December 26, 2017 at Karachi. The agenda of the meeting will to consider the Annual Accounts for the period ended September 30, 2017. Further, the company has declared the closed period from December 19, 2017 to December 26, 2017. Shamurad Sugar Mills Limited is a company incorporated in Pakistan as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The company is engaged in the business of production of sugar. The company owns and operates Sugar and Ethyl Ethanol manufacturing units which are located at Jhoke, District Thatta in the province of Sindh. The stocks of the company are quoted in the Karachi Stock Exchange. The registered office of the company is located in Karachi. The symbol “SHSML” is being used by the stock exchanges for the shares of Shahmurad Sugar Mills Limited.

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Pakistan Stock Exchange Limited Market Position on 18-12-2017

December 18, 2017 | General Business News

Karachi, December 18, 2017 (PPI-OT): DAILY STOCK MARKET REPORT Market Position Printed On DEC-18-2017 COMPANIES KSE KSE-30 KSE-100 KSE-ALLSHR KMI-30 BATi OGTi PSX-KMI POSITION INDICES INDEX INDEX INDEX INDEX INDEX INDEX INDEX Plus 75 Current 19084.32 38383.98 28489.83 65667.32 14100.66 19492.43 19638.83 Minus 237 Previous 19280.20 38645.90 28635.53 66325.02 14157.86 19646.39 19775.20 Unchanged 14 High …

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Board Meeting of Askari General Insurance Company Limited

December 18, 2017 | Board Meetings

Karachi, Askari General Insurance Company Limited informed Pakistan Stock Exchange that a meeting of the Board of Directors of the Company will be held on December 27, 2017 at Rawalpindi to Consider and approve the annual budget for the next financial Year 2018. Askari General Insurance Company Limited is a company incorporated in Pakistan on April 12, 1995 as a public limited company. The commercial operations of the company commenced from October 15, 1995. The foundations of the company are laid under the fundamentals of the Companies Ordinance, 1984. The company is engaged in the business of non-life insurance business comprising of fire, marine, motor, accident, health and miscellaneous. The insurance company has around 19 branches located across Pakistan. 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 at Rawalpindi. The company is sponsored by the Army Welfare Trust which is itself engaged in the business of finance, banking and production of consumer goods and service. The company apart from traditional coverage offers specialized coverage for various engineering risks. The symbol “AGIC” is being used by the stock exchanges for the shares of Askari General Insurance Company Limited.

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JCR-VIS Assigns Rating to proposed Commercial Paper of Hascol Petroleum Limited with increased issue amount of Rs. 1.5 billion

December 18, 2017 | General Business News

Karachi, December 18, 2017 (PPI-OT):JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has assigned preliminary rating of A-1 (Single A One) to Hascol Petroleum Limited’s (HPL) first issue of privately placed commercial paper (CP) of up to Rs. 1.5billion (inclusive of green shoe option of Rs. 500million) having a tenor of up to 6 months. The CP …

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Karachi’s economic activities have increased massively: Nasir Hussain Shah

December 18, 2017 | General Business News

Karachi, December 18, 2017 (PPI-OT):Sindh Information Minister, Syed Nasir Husain Shah has said that since peace had been restored in Karachi Metropolis hence the economic activities had increased at massive level. This he said while inaugurating/visiting the International Build and Construction Exhibition held at Expo Centre Karachi here. The Minister Information has said that leader …

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Impact of the readjusted exchange rate devastating for economy: Mian Zahid Hussain

December 18, 2017 | General Business News

Islamabad, December 18, 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 Monday said impact of the readjusted exchange rate can be devastating for the economy and the common man. Despite the devaluation of the rupee, the …

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JCR-VIS Reaffirms Entity Ratings of Kot Addu Power Company Limited

December 18, 2017 | General Business News

Karachi, December 18, 2017 (PPI-OT):JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the entity ratings of Kot Addu Power Company Limited (KAPCO) at ‘AA+/A-1+’ (Double A Plus/A-One Plus). Outlook on the assigned ratings is ‘Stable’. The previous rating action was announced on November 24, 2016. The ratings take into account KAPCO’s strong business profile emanating …

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Twin cities business community demands detailed information on CPEC

December 18, 2017 | General Business News

Islamabad, December 18, 2017 (PPI-OT):The business community of Rawalpindi and Islamabad has called upon the government to share full information of CPEC project with the private sector as holding back its complete detail was creating many concerns in the local businessmen. This was the upshot of a discussion between the twin cities business community when …

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Secretary Commerce visits Brazil to Strengthen Bilateral Trade Relations

December 18, 2017 | General Business News

Islamabad, December 18, 2017 (PPI-OT):“Pakistan and Brazil have moved forward in deepening relations in all fields especially in commerce and trade. A number of MoUs and Agreements have already been signed between the two countries. Several are being finalized by both sides” Mohammad Younus Dagha, Federal Secretary Commerce of Pakistan observed today after concluding his …

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