Karachi, Dar-es-Salaam Textile Mills Limited informed Pakistan Stock Exchange that the management-took the decision to change its main line of business as it had seen success in renting / leasing its premises on a competitive rate.
It also believes that this is the opportune time for the Company to seek new investment opportunities that can yield beneficial returns and better ratios for the Company and its shareholders.
With the approval, the management plans to settle its liabilities and implement alternate business plan and to reinvest the proceed towards higher yielding investments. With the new name and line of business approved by the shareholders, the company is just awaiting approval from SECP.
The management is confident that with the new business line, it will be able to revive the company into a profitable entity as envisioned by its management and ensure the reversal of the adverse opinion. The management continues to be excited about its new line of business and is in process of its implementation.
Dar-Es-Salaam Textile Mills Limited is one of the Textile Products in Lahore, Punjab, located in 63-B-1, Gulberg-III. It is listed on Pakistan Stock Exchange. The symbol “DSML” is being used by the stock exchange for the shares of Dar-Es-Salaam Textile Mills Limited.