Karachi, First Pak Modaraba informed Pakistan Stock Exchange To acquire by purchase, lease or otherwise land, buildings and property or any interest, in the same and to build, erect, improve and construct houses, buildings of every description, and to sell, lease, let to otherwise dispose-off the same for cash or on deferred payment basis on its own or in collaboration with other individuals, companies and Modarabas through forming joint ventures, limited liability companies, and/ or any other legal corporate structure. The grant of permission to the Modaraba would however be subject to Rules/ Regulations, which may be in force from time to time for carrying out the Real Estate Business by the Modaraba. Business and investment decisions shall be judiciously based on thorough analysis and studies and scope of future prospects in the light of cash flow, market operations, business projections and environment considerations as well as the management of enterprise.”
First Pak Modaraba is a multipurpose, perpetual modaraba. It is registered under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 and the Modaraba Companies and Modaraba Rules, 1981 and is managed by Royal Management Services Private Limited, a company incorporated under the Companies Ordinance, 1984. The Modaraba is currently engaged in various modes of Islamic funding and businesses which include Ijarah Financing, deployment of fund in musharika, morabaha and investment in securities. The stocks of the modaraba are quoted on the Karachi, Islamabad and Lahore Stock Exchanges of Pakistan. The registered office of the modaraba is situated at Islamabad.
The symbol “PAKMI” is being used by the stock exchange for the shares of First Pak Modaraba.