Habib Rice shuts UAE unit over Visa issues

MG News | August 19, 2025 at 04:49 PM GMT+05:00

Add Mettisglobal as a Trusted Source on Google

0:00

August 19, 2025 (MLN): Habib Rice Products Limited (PSX: HRPL), a global supplier of organic and non-GMO rice-based sweeteners and polyols, is initiating the liquidation of its wholly-owned UAE subsidiary, Habib Rice Products (FZE), due to persistent visa-related challenges that have stalled operations.

In a disclosure submitted to the Pakistan Stock Exchange (PSX), the company cited its inability to secure visas for key personnel as the primary reason for winding down the subsidiary.

The decision was made under Regulation 5.6.1 of the PSX Rule Book and in accordance with Sections 96 and 131 of the Securities Act 2015.

The company stated that the liquidation process will commence immediately, with all regulatory requirements being observed.

Headquartered in Karachi with a manufacturing facility in Hub, Balochistan, Habib Rice Products Ltd. has built a reputation for supplying rice-derived ingredients to food, beverage, and pharmaceutical industries worldwide.

The closure of its UAE unit marks a strategic shift, potentially impacting its international logistics and expansion plans.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	179,571.27 436.67M	1.06% 1878.35
ALLSHR	108,600.94 844.23M	1.00% 1073.54
KSE30	53,548.42 162.02M	0.99% 525.53
KMI30	256,725.70 154.74M	0.76% 1936.43
KMIALLSHR	70,620.69 563.61M	0.98% 683.55
BKTi	48,625.03 36.31M	1.37% 658.39
OGTi	37,179.52 8.29M	0.94% 345.85

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	60,080.00	60,230.00 59,790.00	85.00 0.14%
BRENT CRUDE	73.08	75.13 71.38	-2.18 -2.90%
RICHARDS BAY COAL MONTHLY	115.00	0.00 0.00	1.65 1.46%
ROTTERDAM COAL MONTHLY	126.25	0.00 0.00	0.15 0.12%
USD RBD PALM OLEIN	1,135.00	1,135.00 1,135.00	0.00 0.00%
CRUDE OIL - WTI	70.24	71.86 68.56	-1.68 -2.34%
SUGAR #11 WORLD	14.55	14.68 14.02	0.45 3.19%