Pak Suzuki Motor Co. seeks Board approval to finance Automobile Glass Unit

MG News | September 26, 2017 at 02:38 PM GMT+05:00

0:00

The company informed stakeholders that, it plans to seek approval through special resolution as required under The Companies Act, to issue Corporate Guarantee of up to Rs. 744,000,000 to Meezan Bank Ltd. for Tecno Auto Glass Ltd. (TAG), an associated company in respect of financing facilities for setting up plant of automobile glass.

TAG is a public limited company (unlisted), a joint venture between Techno Pack Ltd. (TPT) and Pak Suzuki Motor Co, (PSMC) where PSMC holds 40% of paid up capital and balance 60% is held by TPT and its nominees.

The board has authorized CEO and/or CFO of the company to sign the corporate guarantee agreement and complete the procedural formalities, either singly or jointly.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	187,033.27 703.36M	-0.84% -1588.52
ALLSHR	112,355.64 1,322.41M	-0.80% -909.82
KSE30	57,253.65 170.47M	-0.83% -477.72
KMI30	264,339.24 259.66M	-0.84% -2232.30
KMIALLSHR	72,280.61 865.86M	-0.69% -504.24
BKTi	53,720.25 43.65M	-1.13% -611.48
OGTi	39,202.65 25.16M	0.13% 50.73

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	90,030.00	90,285.00 89,385.00	-200.00 -0.22%
BRENT CRUDE	65.26	65.36 65.09	0.02 0.03%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	-2.20 -2.47%
ROTTERDAM COAL MONTHLY	98.75	98.75 98.50	0.90 0.92%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	60.68	60.78 60.42	0.06 0.10%
SUGAR #11 WORLD	14.77	14.90 14.66	0.05 0.34%