PSMC warns of equity impact in FY23 over unpaid liabilities

MG News | March 20, 2023 at 03:20 PM GMT+05:00

0:00

March 20, 2023 (MLN): Pak Suzuki Motor Company Limited (PSX: PSMC) on Monday warned that if the foreign currency liability of the company is not paid due to the restrictions imposed by the State Bank of Pakistan (SBP), the exchange loss of the company would further enhance which will adversely impact the equity of the company in the financial year 2023, the company's filing on PSX showed.

PSMC has outstanding foreign liabilities equivalent to $184 million at year-end December 31, 2022, which increased to the equivalent of $218mn subsequent to the year-end.

Up to December 31, 2022, the company incurred an exchange loss of Rs3.55 billion on foreign currency transactions and balances.

Subsequent to year-end PKR to USD parity has further deteriorated and resulted in a huge unrealized loss of approximately Rs9bn which may impact the equity of the company in the year 2023.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	159,096.79 286.00M	-0.30% -481.40
ALLSHR	96,671.31 956.17M	-0.27% -260.40
KSE30	48,148.75 102.85M	-0.46% -220.17
KMI30	227,277.27 68.51M	-0.56% -1278.41
KMIALLSHR	62,859.90 336.58M	-0.52% -331.18
BKTi	44,327.12 35.20M	-0.45% -200.35
OGTi	30,536.59 6.65M	-0.82% -252.55

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	103,570.00	104,590.00 103,045.00	-670.00 -0.64%
BRENT CRUDE	63.93	64.34 63.37	0.41 0.65%
RICHARDS BAY COAL MONTHLY	87.25	87.25 87.25	0.10 0.11%
ROTTERDAM COAL MONTHLY	97.00	97.00 96.50	-0.20 -0.21%
USD RBD PALM OLEIN	1,082.50	1,082.50 1,082.50	0.00 0.00%
CRUDE OIL - WTI	60.06	60.51 59.46	0.46 0.77%
SUGAR #11 WORLD	14.17	14.23 14.04	0.06 0.43%