The Securities and Exchange Commission of Pakistan (SECP), in exercise of its powers Under Section 170 (1) of the Companies Ordinance, 1984, on Thursday, convened the overdue Annual General Meeting of the Haseeb Waqas Sugar Mills Ltd for the years 2004 and 2005. The meetings were chaired by Rashid I Malik, Commissioner, SECP.
The company was required to hold the Annual General Meetings (AGMs) for the years 2004 and [...]
Securities and Exchange Commission of Pakistan (SECP) has notified constitution of “CFS Mk II-Implementation Committee” under the Chairmanship of Shaukat Tareen comprising representatives of the three stock exchanges, the SECP, Mutual Funds Association of Pakistan, stock brokers and bankers.
The Committee has been set up to address issues relating to smooth and early implementation of CFS Mk II.
In order to fac [...]
The Karachi Stock Exchange (KSE) has inked a Memorandum of Understanding (MoU), on Thursday, with South Asian Federation of Exchanges (SAFE) and its member countries to launch a joint South Asian Index in future.
M A Lodhi, Managing Director, KSE, singed MoU on behalf of the local bourse at a press briefing on “SAFE Regional & Pakistan Indices”, held here at KSE premises.
SAFE is an organisation for region [...]
The Karachi Stock Exchange (KSE) said in an announcement made in the evening on Wednesday that the implementation of client level netting would now be effective from March 1 for the ready market and from the commencement of April 2007 Contract for Futures Deliverable Market.
The KSE observed that the implementation schedule of the client level netting was reviewed on Wednesday.
“Considering that the necessary IT [...]
The cement industry people say that the current domestic demand leaves a surplus of 15 million tons of cement, and the country has an estimated export potential of 1.2 million tons of bulk cement per annum, as well as 600,000 tons of bagged cement and 1.2 million tons of clinker per annum.
New plants are coming up in various countries and will start production in the next two to three years. Pakistan can make effor [...]
BOARD MEETING:
The Board of Directors (BoD) of Engro Chemicals Limited (Engro) was scheduled for Saturday 20 Jan. 2007 to approve the 2006 full-year results. However the results were announced on 22 Jan. 2007 at 10:00 am. Circumspect though it may seem, bear with me.
2005 DISCLOSURES:Profit after Tax (PAT): Rs. 2, 320 million
Earnings per Share (EPS): Rs. 13.79
Payout: Total cash dividend of Rs. 6
2006 EXPECTATION [...]
Engro Chemical Pakistan has announced, on Monday, a final cash dividend at Rs3 per share (i.e. 30 per cent) for the year ending on December 31, 2006. It was in addition to the already paid interim dividend at Rs6 per share (i.e. 60 per cent).
Therefore, the cash dividend of the entire year totaled to Rs9 per share (i.e. 90 per cent). The profit after tax of Engro Pakistan stood at Rs2.55 billion which is a new reco [...]
The secondary public offering of Oil and Gas Development Company Ltd (OGDCL) shares has been oversubscribed by 38 per cent, Privatisation Commission statement said on Monday.
According to details, the applications for the secondary offering of OGDCL shares is oversubscribed by 38 per cent as the applications received amounted to Rs3.268 billion while the amount required to be realised through this offering was Rs2. [...]
Posted in News
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Tagged IPO, OGDCL
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Again, here’s my take on the news. I think the three more important ones, that directly pertain, hence affect, the Karachi stock exchange, are:
1. The release that Prime Minister Shaukat Aziz is to postpone the decision to levy Capital Gain Tax for the next year.
2. The Sindh Government’s decision to discontinue stamp duty on electronic transfer of shares. [This proposal was in the last budget (June 2006). The [...]
Posted in Articles
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Tagged Balochistan, Bosicor, Capital-Gain-Tax, CTTL, Dubai, Engro, FFCL, IPO, KSE, Merrill-Lynch, Mobilink, POL, PSO, PTCL, SBP, Shaukat-Aziz, Sindh, Wateen
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The reports by the agencies below that came around mid-December have been issued pertaining to our present economic condition and a look into the future. SBP primarily touted foreign investments for last half year, drooling from the prospects of privatizations in the couple of years to come. And, as usual, there was some news directing the path of KSE. Let’s have a brief look on the reports first.
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