DMTX to change its business direction to real estate

MG News | January 03, 2025 at 10:13 AM GMT+05:00

0:00

January 03, 2025 (MLN): The Board of Directors and shareholders of D.M. Textile Mills Limited (PSX: DMTX) have approved the change of the company's principal line of business to real estate.

After considering the available resources, the matter is currently in process with the Securities and Exchange Commission of Pakistan (SECP) / CRO for further necessary action, the company's filing on PSX revealed today.

The company's directors are hopeful that by adopting the new principal line of business, DMTX will prosper.

DMTX is continuously striving to make the best use of the available resources.

The compnay has been able to pay off its entire long-term liabilities of the financial institutions which is a great achievement, the notice reads.

The management has positive intentions and the capability to revive the company.

In the given circumstances, DMTX's placement on the "defaulter segment" at this stage is exacerbating the problems, the notice further revealed.

The company requested support from the Exchange and to consider removing DMTX's name from the defaulter segment and oblige.

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