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Islamabad: Secure Logistics Group Limited, formerly known as Asia Capital Partners (Private) Limited, released its condensed interim financial statements for the six months ending June 30, 2024. The documents detail the Group’s financial performance, revealing a continued focus on logistics and fleet management services.
The financials, prepared in accordance with International Accounting Standard 34 and the Companies Act, 2017, show that the Group’s operations span across multiple subsidiaries with 100% ownership in Fist Securities and Logi Serve, and a 75% stake in Sky Guards. Notably, Logi Serve recently obtained a Zone Enterprise license from the Special Technology Zones Authority.
According to information available from the Pakistan Stock Exchange (PSX), the Group has maintained compliance with applicable financial reporting standards, ensuring that its interim financial statements are consistent with its audited annual financial statements for the year ended December 31, 2023.
The interim statements highlight that the results for the first half of 2024 are not necessarily indicative of the outcomes for the full year. It is also detailed that comparative figures for this interim period have been derived from the audited financials as of December 31, 2023.
The basis of preparation of these financial statements includes the accrual basis of accounting, the going concern concept, and the historical cost basis, except where required by the accounting standards. The Group consolidates its subsidiaries from the dates on which it gains control until it ceases to control them. All significant intra-group transactions and balances are eliminated in consolidation.
The financial statements have been presented in Pakistan Rupees, which is the functional currency of the Holding Company. The Company’s risk management policies, as disclosed, remain unchanged from those in the previous annual audited financial statements.
The financial overview underscores the Group’s organizational structure and its strategic positioning within the security and logistics sectors, marking significant transactions such as the control over Sky Guards. These consolidated financial results are essential for understanding the financial trajectory and operational scope of Secure Logistics Group Limited as of mid-2024.
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