Karachi, Hinopak Motors Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on June 17, 2021.
The agenda of the meeting was discussion of profit and loss account for quarter ended March 31, 2021 which portrayed a loss of Rs. 275,162 with loss per share 13.37 basic and diluted respectively.
Further, nil payment of cash dividend, bonus shares and right shares was agreed.
Furthermore, the share transfer books of the company will remain closed from July 20, 2021 to July 28, 2021 (both days inclusive).
Hinopak Motors Limited is a company incorporated in Pakistan as a public limited company. The foundations of the company are laid under the Companies Ordinance, 1984. The principal activity of the company is assembly, manufacture and sale of Hino buses and trucks. The company also sells buses and trucks in the international market. The shares of the company are quoted on the Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is located at Karachi.
The company is a subsidiary of Hino Motors Limited Japan and the ultimate parent of the company is Toyota Motors Corporation Japan. In 1998, Hino Motors Limited and Toyota Tsusho Corporation obtained majority shareholding in the company after disinvestments by the other two founding sponsors. It has over 50% share in the Pakistani Truck and Bus industry.
The symbol “HINO” is being used by the stock exchanges for the shares of Hinopak Motors Limited.