TPL to form a Holding Company named TPL Corp

According to a company release, Pakistan’s Tech Group TPL is entering a new era by forming a holding company TPL Corp Limited, which will act as an investment holding company of the TPL Group.

Under the new structure, the business of TPL Trakker Limited has been bifurcated and separated into tracking and digital mapping businesses. TPL has made the decision to restructure its business to meet the demand caused as a consequence of its fast paced growth and increasing diversification of its business portfolio.

The Group will continue to grow under the leadership of CEO Mr. Ali Jameel – with investments across the insurance, real estate, transport, security, technology, vehicle and container tracking, navigation and mapping solutions and financial sectors.

“The aim of this arrangement is to enhance transparency; allow and enable foreign direct investment in sector specific companies.” said Mr. Ali Jameel, CEO TPL Corp.

TPL Corp will operate in the same manner with the management and associates remaining in place across all operations, serving the same customers and partners as before. TPL has always been at the forefront of technological innovation and through the combination of its Research and Development teams, skilled employees and technology partners; have managed to launch and grow successful business ventures.

The Effective date of the Scheme for the financial purposes is 1st July 2017. Date of Order of Approval of Scheme is 17th November 2017. The Transformation process would be completed by 30th December 2017.