Security Leasing Corporation Reports Progress on Revival and Debt Settlement

Karachi: Security Leasing Corporation Limited (SLCL) has reported significant progress in its operational restructuring and debt settlement efforts as of October 18, 2024. In a communication addressed to Zeest Zehra Jatoi, Officer, Listed Companies Compliance (RAD) at the Pakistan Stock Exchange (PSX), SLCL detailed its achievements in reviving its operations and settling outstanding liabilities.

According to information available from the Pakistan Stock Exchange (PSX), the company has successfully negotiated a settlement with one of its major creditors, Soneri Bank Ltd., which has positively impacted its financial position as disclosed in the Annual Account for the fiscal year ending June 2024. This progress is a result of the concerted efforts of SLCL’s management and the ongoing support from PSX.

In addition to settling debts, SLCL is actively engaging with major investors to foster stronger business relationships and secure further investment to support its ongoing restructuring plan. These efforts are in line with the company’s strategic objectives to stabilize its financial status and ensure sustainable growth.

The progress report highlights the company’s commitment to transparency and compliance with market regulations, which are critical for maintaining investor confidence and market stability. Meetings with executives of major investors, which are currently underway, are expected to further solidify SLCL’s position in the market.

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