Tariq Glass to invest Rs1bn in Baluchistan Glass

MG News | October 03, 2024 at 03:14 PM GMT+05:00

0:00

October 03, 2024 (MLN): The shareholders of Tariq Glass Industries Limited (PSX: TGL) have resolved to renew an investment of up to Rs1 billion in Baluchistan Glass Limited (PSX: BGL), an associated company.

This investment will be provided in the form of a short-term loan, advance, or running finance as needed by BGL for a further period of one year from the date of approval, on a rollover or renewable basis.

Notably, the return on any outstanding loan amount will be the average borrowing cost of TGIL plus 1% or 3MK plus 1.50%, whichever is higher, along with other terms and conditions disclosed to the members.

Additionally, the members have empowered the Managing Director/CEO and/or any Director of the Company to make decisions regarding this investment.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	135,704.19 102.75M	1.05% 1404.42
ALLSHR	84,793.47 393.62M	0.92% 775.30
KSE30	41,254.30 43.94M	1.08% 440.01
KMI30	193,748.68 44.17M	0.60% 1159.52
KMIALLSHR	56,430.26 171.65M	0.64% 358.02
BKTi	37,756.00 10.57M	2.12% 784.26
OGTi	28,280.30 1.80M	0.14% 40.02

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	122,765.00	122,945.00 118,675.00	4235.00 3.57%
BRENT CRUDE	70.50	70.86 70.36	0.14 0.20%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	1.10 1.14%
ROTTERDAM COAL MONTHLY	108.75	108.75 108.75	0.40 0.37%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.59	68.95 68.41	0.14 0.20%
SUGAR #11 WORLD	16.56	16.60 16.20	0.30 1.85%