Financial results of KASB Modaraba for Year ended June 30, 2021

Karachi, KASB Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on August 27, 2021.

The agenda of the meeting was discussion of profit and loss account for year ended June 30, 2021 which portrayed a profit of Rs. 29,203,024 with earnings per share 0.61 basic and diluted respectively.

Further, 4.80% payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from September 30, 2021 to October 14, 2021 (both days inclusive).

KASB Modaraba was incorporated on June 5, 2014, at that time it was wholly owned subsidiary of Pak Brunei Investment Company Limited (“Pak Brunei”). It is a multipurpose perpetual Modaraba and is primarily engaged in ijarah financing, Musharaka financing, Modaraba financing, diminishing Musharaka and investing in Sukuk bonds, mutual funds and listed securities. The Modaraba was previously managed by the Administrator, appointed by the SECP vide order dated April 03, 2019 issued by the Registrar Modaraba

The total number of shares of the Company are 48,066,480. The Earnings per shares of the Company is (2.14) in 2020 which was (0.71) in 2019. The Company had a loss of Rs. 102,921,000 in 2020 which was 34, 240,000 in 2019.