Systems Limited renews loans to its subsidiaries and associates

MG News | May 23, 2023 at 04:28 PM GMT+05:00

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May 23, 2023 (MLN): Systems Limited (PSX: SYS), a leading IT company in Pakistan, has renewed the loans it had extended to its subsidiary and associated companies worth Rs590 million, resolutions passed in the 46th Annual General Meeting (AGM) showed today.

The loans are aimed at supporting the growth and development of the company’s ventures in various sectors.

The subsidiary company includes SUS Joint Venture (Private) Limited with a loan of Rs50m.

While the associate companies include UUS Joint Venture (Private) Limited with a loan worth Rs200m, and E-Processing Systems (Private) Limited with a loan of Rs340m.

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