SAZEW clarifies no equity investment in Philippines three-wheeler project
MG News | November 03, 2026 at 09:35 AM GMT+05:00
November 03, 2026 (MLN): Sazgar
Engineering Works Limited (PSX: SAZEW) has clarified that it has made no equity
investment in a three-wheeler manufacturing and assembly plant in the
Philippines, saying the facility has been set up by its distributor and not by
the company itself.
The company responded to
news reports circulating on social media that claimed it had established, or
was setting up, a three-wheeler manufacturing project in the Philippines.
The company said its
distributor has established a manufacturing and assembly plant in the
Philippines for Sazgar three-wheelers, with the company’s support and technical
assistance.
It said this will raise
three-wheeler export volumes and widen its presence in the international
market.
Sazgar said it will export
three-wheeler CKDs to the Philippines, which will contribute to earning foreign
exchange for the country, something it described as the need of the hour.
The company added that any
future decision on an equity investment in the Philippines, or in any other
overseas manufacturing project, will be duly disclosed to the PSX and the
Securities and Exchange Commission of Pakistan (SECP), in line with applicable
laws, regulations and disclosure requirements.
The aforementioned
information was disseminated through a notification to Exchange.
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