Karachi, November 28, 2024 – HTL Hi-Tech Lubricants Limited (HTL) has announced a significant milestone, commencing local production of high-end synthetic lubricants under its collaboration with South Korea’s SK Enmove Co. Ltd. (SKEN).
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KAPCO Secures Lowest Bid for KE Solar Project
Karachi, November 27, 2024 – Kot Addu Power Company Limited (KAPCO) has achieved a significant milestone by submitting the lowest bid for K-Electric’s (KE) proposed solar power project, furthering Pakistan’s shift towards renewable energy solutions.
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Indus Motor Announces Three-Day Shutdown: PSX Notice
Karachi, November 26, 2024 – Indus Motor Company Limited announced on Tuesday that it will temporarily shut down its operations for three days due to a shortage of raw materials.
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CCP Imposes Penalty on Pharma Firm Over Fake Certification
The Competition Commission of Pakistan (CCP) has imposed a hefty fine of Rs. 20 million on a pharmaceutical company for using fraudulent certification for kidney dialysis machines and referred the matter to the Federal Investigation Agency (FIA) for further investigation.
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Honda Atlas Cars Announces 44% Dip in Half-Year Profitability
Honda Atlas Cars (Pakistan) Limited (HCAR) on Friday announced its financial result for 1HMY25 today, posting a profit after tax of PKR 460 million (EPS: PKR 3.22), representing Year on Year (YoY) decrease of 44%.
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DFML Defaults Over Rs 1 Billion in Repayments: Auditor’s Report
Karachi, November 22, 2024 – An independent auditor’s report prepared by Feroz Sharif Tariq & Co. has revealed that Dewan Farooque Motors Limited (DFML) has defaulted on the repayment of long-term loans from financial institutions amounting to Rs 1.097 billion. Additionally, short-term financing facilities totaling Rs 4.096 billion have expired and have not been renewed by banks.
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Hascol Petroleum Responds to PSX on Share Price Fluctuations
Karachi, November 20, 2024 – Hascol Petroleum Limited on Wednesday submitted its reply to Pakistan Stock Exchange (PSX) regarding unusual movements of shares. Hascol Petroleum said that the company remains committed to promptly disclosing any material or price-sensitive information that may impact the trading price or volume of its shares, in strict compliance with the Securities Act, 2015 and PSX Regulations.
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IBEX Repurchases 20% Stake from TRGI in $70 Million Deal
Karachi, November 20, 2024 – TRG Pakistan (TRG) announced that its associate company, The Resource Group International (TRGI), has entered into a definitive agreement with IBEX Limited (Nasdaq: IBEX), which has repurchased approximately 3.56 million shares of IBEX from TRGI. The repurchased shares represent 20% of IBEX’s total outstanding shares, reducing TRGI’s stake in the company from 30% to 12.5%.
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PSX Asks Hascol Petroleum to Explain Unusual Share Movements
Karachi, November 20, 2024 – The Pakistan Stock Exchange (PSX) has issued a formal notice to Hascol Petroleum Limited, requesting an explanation regarding the unusual fluctuations in the price and volume of its shares.
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CCP Greenlights Total Parco Stake Transfer Deal
Islamabad, November 18, 2024 – The Competition Commission of Pakistan (CCP) has approved the acquisition of a 50% stake in Total Parco Pakistan Limited (TPPL) by Aquashore SA, a Switzerland-based company operating under the Gunvor Group. This strategic move further underscores the growing global interest in Pakistan’s dynamic energy sector.
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