Pakistan Company News – Financial results of Modaraba Al-Mali for Year ended June 30, 2018

Financial results of Modaraba Al-Mali for Year ended June 30, 2018

Karachi, Modaraba Al-Mali informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on August 08, 2018.

The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2018 which portrayed a profit of Rs. 11,593,885 with earnings per share 0.63 basic and diluted respectively.

Further, 5% payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from October 18, 2018 to October 25, 2018 (both days inclusive).

Modaraba Al-Mali is a multipurpose and perpetual Modaraba floated in Pakistan on July 8, 1987 under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980, and Modaraba Companies and Modaraba Rules, 1981 and is managed by BankIslami Modaraba Investments Limited, a company registered under the Companies Ordinance, 1984. It is engaged in the business of leasing, murabaha, musharaka financing, operation of petrol and diesel filling / service station. It is listed on Karachi, Islamabad and Lahore Stock Exchanges of Pakistan. The registered office is situated at Karachi.

The symbol “MODAM” is being used by the stock exchange for the shares of Modaraba Al-Mali.