Systems Limited contemplates Rs590m loan renewal

MG News | April 19, 2024 at 04:29 PM GMT+05:00

0:00

April 19, 2024 (MLN): The shareholders of Systems Limited (PSX: SYS) have resolved to consider and, if thought fit, approve the renewal of loans worth Rs590 million to three of its subsidiaries and associated companies, said a notice issued by the company on Friday.

This includes a Rs50m loan to SUS Joint Venture (Private) Limited, a subsidiary of the SYS.

Furthermore, the renewal of loans to two of the company’s associates, UUS Joint Venture (Private) Limited worth Rs200m and EProcessing Systems (Private) Limited worth Rs340m, is currently under consideration.

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