S.G. Power rebrands as Crestwell Healthcare

May 14, 2026 (MLN): In what marks one of the more dramatic corporate identity shifts seen on the Pakistan Stock Exchange in recent memory, S.G. Power Limited has formally resolved to rename itself Crestwell Healthcare Limited.

This signalled a complete strategic departure from its legacy power business and a decisive move into the healthcare and pharmaceutical space.

The resolution was passed by shareholders at an Extraordinary General Meeting (EGM) held on May 13, 2026, with the company notifying the PSX the following day.

Three special resolutions were tabled and adopted, covering the name change, a sweeping alteration to the company's Memorandum of Association, and a shift of its registered office out of Sindh and into Punjab.

The name change: from kilowatts to capsules

The first and most headline-grabbing resolution is the renaming of the company to Crestwell Healthcare Limited, subject to availability of the name and approval from the Securities and Exchange Commission of Pakistan (SECP).

 The resolution was passed under Section 12 of the Companies Act, 2017, which governs change of corporate name.

Objects clause overhauled

The second resolution is arguably the most consequential from a business perspective. Passed under Section 32 of the Companies Act, 2017, the entire Clause III of the company's Memorandum of Association, its objects clause, which defines the legal scope of what a company may do, has been struck out and replaced wholesale.

The new objects clause repositions the company as a healthcare-focused platform with primary emphasis on the pharmaceutical sector.

The amended clause authorises the company to import, sell, purchase, rent, trade, distribute, market and provide after-sales services for all classes of medical equipment, instruments, devices and hospital supplies, in addition to manufacturing, importing, exporting and distributing pharmaceutical, medicinal and chemical preparations, including vitamins and other health-promotion products.

In plain terms, the company has given itself a legal mandate to operate across virtually the entire healthcare value chain, from hospital consumables and medical devices to pharma manufacturing and distribution. This is not a partial pivot; this is a complete reinvention.

Domicile shift: Sindh out, Punjab in

The third resolution covers the relocation of the company's registered office from the Province of Sindh to the Province of Punjab, passed under Section 21 of the Companies Act, 2017.

 Once effected, Clause 2 of the Memorandum of Association will simply read: "The registered office of the Company will be situated in the province of Punjab."

This is not a trivial administrative change. A cross-provincial registered office shift in Pakistan requires SECP approval and entails re-registration with a different registrar of companies.

It also has implications for the company's tax domicile, regulatory filings, and potentially its labour and commercial relationships.

A fourth resolution, passed under Section 85 of the Companies Act, authorises a fourfold increase in the company's authorised share capital from Rs200m (divided into 20m ordinary shares of Rs10 each) to Rs800m (divided into 80m ordinary shares of Rs10 each).

Clause V of the Memorandum of Association has been amended accordingly, and the relevant Articles of Association are to be updated to reflect the change.

The CEO, any Director, and/or the Company Secretary have been jointly and severally authorised to complete all filings with the SECP and PSX in this regard.

The scale of the capital expansion signals that the transformation is not merely cosmetic.

A company pivoting into pharma and medical devices sectors that are capital-intensive and inventory-heavy would need a substantially larger capital base to support operations, and this resolution provides that headroom.

All three resolutions are subject to SECP approval and any other applicable regulatory clearances.

The company has not disclosed a timeline for when these approvals are expected, nor has it provided any financial details regarding the cost of the transformation, potential acquisition targets, or projected revenues from the healthcare vertical.

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