Posted: May 3rd, 2005 | Author: StockPK Team | Filed under: News | Tags: CDC, SECP
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In compliance with the directive from Securities and Exchange Commission of Pakistan (SECP), the Central Depository Company (CDC) has announced closure of its ‘Group Account’ facility with effect from May 1, 2005. This is an important milestone in implementing the reform agenda laid down by the SECP aimed at achieving absolute transparency in settlement mechanisms. Group Accounts, commonly known as ‘Baynaami’ accounts, were used for keeping securities of the clients who did not want to disclose their identity. This measure would go long way in moving towards proper documentation of capital market dealings as there has been a persistent effort to bring about transparency and credibility to the market over the years.
Posted: May 3rd, 2005 | Author: StockPK Team | Filed under: News | Tags: Bank-of-Khyber
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The Bank of Khyber (BoK) is going to establish a brokerage house, an exchange company, and housing subsidiary during the current calendar year. The objective behind it is to construct residential townships, and handed them over to people according to the principles of the Islamic banking. This was stated by BoK Acting Managing Director Qazi Munir-ul-Haq, while talking to Business Recorder on Saturday. He said the financial position of the Bank of Khyber is registering improvement with each passing day, saying it had earned Rs 199 million gross profit during first quarter of the current calendar year.
Posted: May 3rd, 2005 | Author: StockPK Team | Filed under: News | Tags: SSGC
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The Board of Directors of Sui Southern Gas Company (SSGC) has approved the third quarter audited financial results ending on March 31, 2005. The company registered a 7 percent growth in sales volume during the period to 251,283 mmcf, and the corresponding sales value rose by 15 percent to Rs 38.7 billion. This increase was mainly contributed by the fulfilment of additional demand from fertiliser manufacturers and other industrial customers. As against this, there was a 23 percent increase in the cost of gas, primarily due to a change in the supply-mix of gas to more expensive fields, as supplies from older fields, like Sui gas field, continue to decline.
Posted: May 3rd, 2005 | Author: StockPK Team | Filed under: News | Tags: MCL, Mustehkam-Cement, Pakistan
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The Privatisation Commission has received 38 expressions of interest (EoI) for 85.29 percent share of Mustehkam Cement Limited (MCL). Minister for Privatisation, Dr Abdul Hafeez Shaikh, declared the results here on Saturday. He said the EoIs reflected investors’ confidence in the government’s economic and privatisation policies. He said that the privatisation program was heading forward satisfactorily and successfully to encourage the private sector for more investment. He said the ‘privatisation for the people’ programme transmitted the benefit to the common man through public offerings of GoP shares in public sector entities.
Posted: May 3rd, 2005 | Author: StockPK Team | Filed under: News | Tags: CDC, SECP
| No Comments »
In compliance with the directive from Securities and Exchange Commission of Pakistan (SECP), the Central Depository Company (CDC) has announced closure of its ‘Group Account’ facility with effect from May 1, 2005. This is an important milestone in implementing the reform agenda laid down by the SECP aimed at achieving absolute transparency in settlement mechanisms. Group Accounts, commonly known as ‘Baynaami’ accounts, were used for keeping securities of the clients who did not want to disclose their identity. This measure would go long way in moving towards proper documentation of capital market dealings as there has been a persistent effort to bring about transparency and credibility to the market over the years.
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