Tariq Glass to invest Rs1bn in Baluchistan Glass

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

Add Mettisglobal as a Trusted Source on Google

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	173,886.69 195.81M	-0.85% -1493.18
ALLSHR	104,193.90 1,478.56M	-0.79% -830.04
KSE30	50,762.89 101.57M	-1.61% -833.18
KMI30	248,644.12 78.76M	-1.03% -2588.32
KMIALLSHR	67,289.90 391.02M	-0.79% -536.64
BKTi	47,836.07 30.16M	-1.03% -497.73
OGTi	34,437.26 6.66M	-1.07% -371.75

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	76,000.00	0.00 0.00	45.00 0.06%
BRENT CRUDE	97.97	100.83 96.67	-0.32 -0.33%
RICHARDS BAY COAL MONTHLY	127.25	0.00 0.00	-0.50 -0.39%
ROTTERDAM COAL MONTHLY	136.50	137.25 136.50	-0.80 -0.58%
USD RBD PALM OLEIN	1,182.50	1,182.50 1,182.50	0.00 0.00%
CRUDE OIL - WTI	90.34	92.53 89.07	-0.18 -0.20%
SUGAR #11 WORLD	18.25	18.60 18.13	-0.31 -1.67%