SPLC boosts cash position to Rs101.86m to pay off COI holders

MG News | July 07, 2023 at 04:03 PM GMT+05:00

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July 07, 2023 (MLN): Saudi Pak Leasing Company Limited (PSX: SPLC) has managed to augment its cash position up to Rs101.86 million in order to pay off the Certificate Of Insurance (COI) holders as early as possible, the company’s latest filing on PSX revealed today.

Of the total balance, the company made a cash recovery of Rs88.73m in the fiscal year 2022-23, comprising a sum of Rs0.4m during the reporting period of June 2023.

In addition to the above, an amount of Rs7.10m has been received as dividends, Rs2.34m profit from treasury bills, and Rs3.68m received as profit from bank’s deposit.

“As far as disinvestment is concerned, our major shareholders M/S SAPICO on our query appraised us that the latest update is the same as intimated in their previous months’ progress,” the notice further reads.

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