Daily Archives: August 8, 2018

Board Meeting of Lakson Investments Limited

Karachi, Lakson Investments Limitedinformed Pakistan Stock Exchange that the meeting of the Board of Directors of the Company will be held on August 15, 2018 at Karachi to consider the Annual Financial statements (Audited) of the collective investment schemes managed by the Company named as the Lakson Income Fund, the Lakson Money Market Fund, the Lakson Equity Fund, the Lakson Asset Allocation Developed Markets Fund, the Lakson Islamic Tactical Fund and the Lakson Tactical Fund for the year ended June 30, 2018 along with other agenda items.

Lakson Investments Limited, the investment management arm of The Lakson Group, is licensed by the Securities & Exchange Commission of Pakistan to provide asset management and investment advisory services under the Non Banking Finance Companies Rules, 2003 and Notified Entities Regulations, 2008.

Lakson Investments currently manages six unique open end mutual funds. The Lakson Money Market Fund (LMMF) is designed for those with a short term investment horizon, the Lakson Income Fund (LIF) caters to those with an intermediate investment horizon and the Lakson Equity Fund (LEF) provides diversified exposure to domestic stocks.

Board of directors meeting of General Tyre and Rubber Company of Pakistan Limited

Karachi, General Tyre and Rubber Company of Pakistan Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 17, 2018 at Karachi. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 09, 2018 to August 17, 2018.

The General Tyre and Rubber Company of Pakistan Limited is a public limited company incorporated in Pakistan. The company came into existence in 1963, in Karachi and commenced its production in 1964. The foundations of the company are laid under the Companies Ordinance, 1984. The company is engaged in the manufacturing of tyres and tubes for automobiles and motorcycles. The stocks of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located at Karachi.

The company was established by General Tyre International Corporation of USA, with a total capacity of only 120,000 tyres per annum. GTIC sold 90% of their shares to the present owners M/s Bibojee Services Ltd. in 1977 and retained 10% of the ownership. In 1985, the company completed a major expansion, which took the capacity to 600,000 tyres annually.

The capacity of the Company stands at 2.3 million tyres approximately with potential to meet one third of the country’s demand. The current main sponsors of the company beside Bibojee Services are Pak Kuwait Investment Company, NIT and Continental AG of Germany. The remaining shares are held by the general public.

The symbol “GTYR” is being used by the stock exchanges for the shares of General Tyre and Rubber Company of Pakistan Limited.

Board of directors meeting of International Steels Limited

Karachi, International Steels Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 15, 2018 at Karachi. The agenda of the meeting will to consider the Annual Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 09, 2018 to August 15, 2018.

International Steels Limited was incorporated on 3 September 2007 as a public unlisted company limited by the International Industries Limited. The foundations of the company are developed under the Companies Ordinance, 1984. The primary activities of the Company are business of manufacturing of cold rolled steel coils and galvanized sheets. The production capacity of the company is 250,000 tons per annum of cold rolled coils from which 150,000 tons is Hot Dipped Galvanized Steel. The commercial operations of the project initiated in January 1, 2011. The registered office of the company is located in Karachi. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan.

The equity contributions of the company come from Sumitomo Corporation and International Finance Corporation which has develop the country’s engineering and hi-tech manufacturing industries. The group organizations of the company include International Steel Limited, Pakistan Cables Limited and International Industries Limited.

The company has an Effluent Treatment Plant and an 18MW gas fired power plant. The power plant has started production and supplying to the KESC.

The symbol “ISL” is being used by the stock exchange for the shares of International Steel Limited.

Board of directors meeting of Askari Bank Limited

Karachi, Askari Bank Limitedinformed Pakistan Stock Exchange that board of directors meeting of the company will be held on August 16, 2018 at Rawalpindi. The agenda of the meeting will to consider the Quarterly Accounts for the period ended June 30, 2018.

Further, the company has declared the closed period from August 09, 2018 to August 16, 2018.

Askari Bank Limited was incorporated in Pakistan on October 9, 1991, as a public limited company and commenced its operation on April 1, 1992. The company is engaged in the business of banking defined in the Banking Companies Ordinance, 1962. The branch networks of the bank also include Islamic and agricultural banking. The registered office of the bank is located in Rawalpindi. The stocks of the company are quoted on the Karachi, Lahore and Islamabad Stock Exchanges of Pakistan.

The bank has more than 240 branches located all over Pakistan. The products and services which the bank provides to its customers include agricultural banking, branch banking, consumer banking, corporate banking and Islamic banking services.

The symbol “AKBL” is being used by the stock exchange for the shares of Askari Bank Limited.

Meteorological Dept should play its role during flood situation: CM KP

Caretaker Chief Minister Khyber Pakhtunkhwa Dost Muhammad Khan says Meteorological Department should play its due role to protect people from devastation of flood.

Presiding over a meeting of Provincial Disaster Management Authority and Rescue 1122 in Peshawar, he directed the concerned authorities to prepare a summary for buying a helicopter to be used in emergency situation.

Source: Radio Pakistan

India using excessive force, state terrorism in subduing freedom struggle: Masood

President Azad Jammu and Kashmir Sardar Masood Khan says India is using excessive force, demographic transformation and state terrorism in subduing the freedom struggle in Indian Occupied Kashmir.

Talking to Convener All Parties Hurriyet Conference Syed Faiz Naqshbandi in Islamabad today (Wednesday), he said that India will never succeed in making Kashmiris give up their legitimate struggle in ascertaining their right to self-determination.

Masood Khan strongly condemned the recent killings in IOK under the guise of cordon and search operations. He said that the unarmed protestors are being mercilessly killed and illegally arrested for demanding their right to self-determination.

Both the leaders discussed in detail the report released by the UN Office of the High Commissioner on Human rights which categorically highlights the massive human right violations taking place in IOK and the protection provided to the Indian security personnel under the Armed Forces Special Powers Act and the Public Safety Act.

The President commended the efforts of Faiz Naqshbandi and other APHC representatives for actively highlighting the OHCHR Report at international forums.

Masood Khan strongly condemned the nefarious moves by New Delhi to do away with Article 35-A in an attempt to illegally change the demography of Jammu and Kashmir and withdrawing the minimum privileges that Kashmiris have under the Indian constitution.

Source: Radio Pakistan