Daily Archives: June 21, 2018

Board Meeting of Atlas Battery Limited

Karachi, Atlas Battery Limitedinformed Pakistan Stock Exchange that Board of Directors in their meeting held on June 21, 2018, approved the annual budget of the Company for the financial year 2018-19.

Atlas Battery Limited was incorporated as a public limited company on October 19, 1966. The company is engaged in manufacturing and sale of automotive and motorcycle batteries. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office and manufacturing facility of the company is located in Karachi.

The company manufactures polypropylene and hard rubber batteries to cater the needs of passenger cars of varied capacities, trucks, tractors, heavy vehicles, construction and road building equipment, as well as host of stationary and industrial applications. Motorcycle batteries have also been added to this range.

The symbol “ATBA” is being used by the stock exchanges for the shares of Atlas Battery Limited.

Board of directors meeting of Climax Engineering Company Limited

Karachi, Climax Engineering Company Limited informed Pakistan Stock Exchange that board of directors meeting of the company will be held on June 28, 2018 at Gujranwala.

Further, the company has declared the closed period from June 21, 2018 to June 28, 2018.

The Climax Engineering Company Limited is a company incorporated in Pakistan. It was established in 1940. The company engaged in the manufacturing of home appliance like Electric Heater and Electric Cattle in 1950. In 1951 it started producing electric fans and developed capacitor fans. In 1958 the company converted into a Private Limited Company. The company started manufacturing Electric Motors, Electric Heaters, Air Conditioners, etc. The company also started manufacturing of transformer with the collaboration of English electric company England. It was converted into public limited company in 1971. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located in Gujranwala.

The symbol “CECL” is being used by the stock exchanges for the shares of Climax Engineering Company Limited.

Board of directors meeting of United Distributors Pakistan Limited

Karachi, United Distributors Pakistan Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on June 28, 2018 at Karachi to consider and approve the Financial Budget for the Fiscal Year ending June 30, 2019.

Further, the company has declared the closed period from June 22, 2018 to June 28, 2018.

United Distributors Pakistan Limited was incorporated in Pakistan as a public limited company. The foundations of the company are laid using the Companies Ordinance, 1984. The [principle business activities of the company include manufacturing, trading and distribution of pesticides, fertilizers and other allied products. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located in Karachi.

The company has introduced several multinational business which are Dow Agro Sciences (USA), FMC Corporation (USA), Pioneer Seeds (USA), Nichimen (Japan) and currently DuPont (USA). The businesses of FMC United as well as Pioneer Seeds were developed almost exclusively by the company. The business of the company includes crop protection, seeds, micro nutrient and fertilizers and distribution services.

The symbol “UDPL” is being used by the stock exchanges for the shares of United Distributors Pakistan Limited.

LG Steam Washer: The Best Way to Keep What You Cherish Closer and Longer

Karachi, June 21, 2018 (PPI-OT): Indispensable Steam™ Solution for Deep Clean, 99.9% Allergen Removal LG Electronics (LG) has released a heart-warming video highlighting the striking antiallergen feature of the company’s Steam technology. The clip depicts steam as the essential love that keeps a girl close to her valuable teddy bear, which is full of memories of her mother. The highlighting of heart-warming moments with family accentuates the hygienic feature of Steam™ in allergy care.

The video also unveils LG’s latest washing machine, Steam Washing Machine, which boasts more powerful anti-allergy functions. Sterilization in daily life is growing in importance due to chronic problems caused by harmful substances such as dust and allergens in daily products. The washer is a great choice for consumers fearful of invisible harmful substances that can cause allergic reactions.

The innovative Steam technology removes not only 99.9 percent of allergens but also the residue left by dead allergens. Clothing is washed at a temperature of 50-60℃ for 30 minutes, which effectively removes common household allergens and eliminates 50.9 percent more allergens than other washers. As LG’s exclusive technology for clothing hygiene and anti-allergen, Steam™ has also received certification allergens from the British Allergy Foundation for removing 99.9 percent of.

The Steam technology effectively demonstrates the company’s ceaseless efforts to improve consumer life and raise the bar higher in washer innovation. As seen in the video, all a user has to do is to simply steam wash clothes and household linens to keep them clean and hygienic. This is because Steam™ removes the extra step of worrying about invisible allergens and suffering from allergies.

Utilizing the industry’s latest technology in deep cleaning and anti-allergy care, LG shows that its technology is akin to love that helps people keep what they cherish closer. Thanks to the innovative allergy removal function of Steam™, LG’s washer brings unprecedented peace of mind and convenience to consumers amid heightened fears over harmful substances in daily life. The video can be accessed through the link: https://youtu.be/8BQPDrTrgIk

For more information, contact:
LG Electronics Pakistan
Corporate Office
ST-8, 4th Floor, Tower-A, Technology Park,
Main Shahrah-e-Faisal,
Karachi
Representative Phone Number: +92 (0) 21 32787452
FAX: +92 (0) 21 3278 7463
Web: http://www.lg.com/pk

Tax Amnesty Scheme, 2018 – CDC to facilitate Transfer of Book Entry Securities

Karachi, June 21, 2018 (PPI-OT): Central Depository Company of Pakistan Limited will facilitate Transfer of Book Entry Securities in the Central Depository System against declaration of assets under Government of Pakistan’s Tax Amnesty Scheme by way of the Voluntary Declaration of Domestic Assets Act, 2018 and the Foreign Assets (Declaration and Repatriation) Act, 2018.

In this regard, CDC, with the prior approval of Securities and Exchange Commission of Pakistan has issued necessary circular detailing the requirements and procedures of such securities’ transfers. This circular has been made available on CDC’s website http://cdcpakistan.com/circular-notices/ for ready reference. CDC believes that this initiative will help the declarants to avail the benefits offered by Government of Pakistan in the Tax Amnesty Scheme. CDC is the sole depository of Pakistan, holding custody of securities worth Rs. 5.3 trillion (equivalent to US$ 44 billion) in electronic format.

For more information, contact:
Head Office,
Central Depository Company of Pakistan Limited (CDC)
CDC House, 99-B, Block B, S.M.C.H.S.,
Main Shahra-e-Faisal, Karachi – 74400, Pakistan
Tel: +92-21-111-111-500
Fax: +92-21-34326031
Email: info@cdcpak.com
Website: http://cdcpakistan.com/

Keeping undeclared assets in country, abroad getting difficult: Chairman FBR

Karachi, June 21, 2018 (PPI-OT): Chairman of the FBR (Federal Board of Revenue) Tariq Mahmood Pasha on Thursday said tax amnesty scheme is for the business community who should take full advantage of it as keeping undeclared assets in Pakistan and abroad is becoming increasingly difficult. The business community has not committed any crime by sending money abroad or buying assets as law and order situation, shortcomings in the system, and weaknesses of FBR are behind it, he said.

Addressing the business community at FPCCI, he said that money finds its way to the place where it secure. President FPCCI Ghazanfar Bilour, Chairman UBG Iftikhar Ali Malik and others were also present on the occasion. Mr. Pasha said that the response of the scheme is very encouraging but the figures cannot be revealed at this stage adding that the country will have access to the accounts of Pakistanis in 102 countries in three months which will make it difficult and very costly for the people to keep undeclared assets.

Chairman FBR said that the scheme will improve revenue, stabilise foreign exchange reserves, reduce the deficit, improve the balance of payments, and encourage foreign direct investment. He said that another such scheme is not possible anytime soon while extension in the date is very difficult.

The Chairman FBR said that Dubai has started informing Pakistani authorities about the investment of Pakistani there while the mapping of real estate in Pakistan will be completed shortly. He said that we have planned to reduce withholding tax on filers and increase it on non-filers as soon as the revenue situation warrants it.

At the occasion, Ghazanfar Bilour said that many members of the business community could not benefit from the scheme due to the holy month of Ramadan, Eid, confusion and elections, therefore, its last date should be extended. He said that success of this scheme is very necessary to bail out the country from some of the critical problems. He also lauded FBR to accept many budget proposals and hoped that the rest will be accepted before the next budget.

For more information, contact:
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi, Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk