Chongqing Liangjiang New Area empowers SCO cooperation with digital economy

CHONGQING, China, Aug. 25, 2021 /Xinhua-AsiaNet/–In a bid to promote the digital economy for common prosperity, the China-Shanghai Cooperation Organization Forum on the Digital Economy Industry kicked off Monday in the Liangjiang New Area in southwest China’s Chongqing Municipality. The three-day event will be held both online and offline, according to Chongqing Liangjiang New Area Administrative Committee.

As one of the five sub-forums, the parallel session of Trade and Economic Multifunctional Platform for the SCO Countries (TEMP) in Chongqing Liangjiang New Area was held Monday. A total of 16 projects were signed on site, involving industry, cultural tourism and education, with a trade volume of nearly 10 billion yuan.

In August 2019, TEMP officially settled in Liangjiang New Area. It’s designed to be a multi-field and multi-functional international exchange and cooperation platform with economic and trade work as the core. TEMP seeks to strengthen and deepen cooperation, optimize the commercial structure of Central Asian and Southeast Asian countries, expand corresponding economic factors, and establish common production cooperation.

Since its establishment, TEMP has played an active role and achieved remarkable results. The level of interconnection between SCO member states and Chongqing has seen continuous improvement, with increasingly closer economic cooperation and trade exchanges. At present, SCO member states have opened about 40 new enterprises in Chongqing, and Chongqing has set up more than 30 enterprises in SCO member states with a total investment of 675 million U.S. dollars.

As an important carrier for strengthening mutually beneficial economic and trade cooperation between China and the SCO, TEMP will build a new SCO ecology featuring deep integration of digital economy and traditional economy. It will continue to innovate the international economic cooperation, trade exchange model, and use advanced digital industry concepts to create a multi-industry international ecological layout with Chongqing as the hub to serve SCO member states.

As the first national-level development and opening-up new district in China’s inland, Liangjiang New Area is building an inland open door, a smart city, a high-quality development leading area and high-quality living demonstration area in Chongqing. By leading industrial transformation and upgrading with big data intelligence and building a new pattern of inland opening-up, the new area has established five open systems, including an open channel for international multimodal transport, an open platform with complete functional categories, an open economy with a high degree of extroversion, an open environment of marketization, legalization and internationalization, and an open cooperation connecting BRI countries. High-quality development has posted a strong momentum in the new area.

Liangjiang will leverage TEMP to promote scientific and technological innovation cooperation to a higher level and promote the application of next-generation digital technologies. Besides, efforts will be made to push for new results in digital economy cooperation and to build internationally competitive digital industrial clusters. The new area will promote new expansion of economic and trade cooperation and deepen cooperation in international trade, industrial development, culture and tourism.

For more information, please visit http://www.liangjiang.gov.cn

Source: Chongqing Liangjiang New Area Administrative Committee

Etan Hon Named Product Manager of Turbo Aftermarket Services for Nikkiso Cryogenic Services

TEMECULA, Calif., Aug. 25, 2021 (GLOBE NEWSWIRE) — Nikkiso Cryogenic Industries’ Clean Energy & Industrial Gases Group (Group), a subsidiary of Nikkiso Co., Ltd (Japan), is pleased to announce that Etan Hon has been appointed Product Manager of Turbo Aftermarket Services (AMS) for the Nikkiso Cryogenic Services unit (NCS).

This addition to their management team supports the Group’s objectives to further grow their AMS for Turboexpanders. The Turbo All Brands line will also expand to support and service more brands, including ACD, Rotoflow, Atlas Copco, and Cryostar among others.

Etan received a degree in Aerospace engineering from the University of California, San Diego. He started his career by providing oilfield services to customers within the oil & gas industry in Texas working for Schlumberger and Baker Hughes. In 2017, he joined ACD LLC as a Field Service Manager. After the acquisition by Nikkiso in 2019, he transitioned into the role of Service Manager of Turbo AMS for NCS and helped move the ACD Turbo AMS division into a new facility in Irvine, CA. He helped re-develop the standards and processes with the international service centers for the Turbo AMS in Irvine. The new structure has created a successful operating business locally and will ensure proper support to the Turbo AMS team globally.

“The NCS team is excited to have Etan in this new Turbo AMS Product Management role,” according to Jim Estes, President of NCS. “His years of experience and focus on customer service has exceeded our expectations. I’m looking forward to his success continuing in this new role.”

Nikkiso Cryogenic Services provides service and support globally, including locations in Malaysia, Germany, India, Australia, Taiwan and China as well as six locations in North America.

ABOUT CRYOGENIC INDUSTRIES
Cryogenic Industries, Inc. (now a member of Nikkiso Co., Ltd.) member companies manufacture engineered cryogenic gas processing equipment and small-scale process plants for the liquefied natural gas (LNG), well services and industrial gas industries. Founded over 50 years ago, Cryogenic Industries is the parent company of ACD, Cosmodyne and Cryoquip and a commonly-controlled group of approximately 20 operating entities.

For more information please visit www.nikkisoCEIG.com and www.nikkiso.com.

MEDIA CONTACT:

Anna Quigley
+1.951.383.3314
aquigley@cryoind.com


Thunes Enables Real-time Consumer Payments to Pakistan through a Partnership with Bank Alfalah

SINGAPORE and KARACHI, Pakistan , Aug. 25, 2021 /PRNewswire/ — Thunes, Singapore-based Fintech company and a leader in global cross-border payments, today announced a partnership with Bank Alfalah, one of Pakistan’s largest banks, to enable real-time affordable cross-border payments to consumers in Pakistan.

This partnership will help Thunes’ customers to enable payments not just to Bank Alfalah’s clients, but to all of the 57 million of Pakistan’s banked population. It will also work in near-real time, thanks to Thunes’ robust digital treasury systems.

Pakistan ranks #6 among countries recipients of remittances in 2020 globally, according to the World Bank data. The flow of migrant workers’ remittances to Pakistan continues to accelerate despite Covid-19, surging 29% between July 2020 – May 2021 to reach an all-time high of US$26.7 billion per annum. These funds are an important source of foreign exchange for Pakistan and crucial for supporting families with essential daily needs, including food, housing, healthcare and education.

“We are delighted to partner with Bank Alfalah to deliver a smoother and more efficient money transfer experience to the Pakistan consumers. Historically, cross-border money transfers to Pakistan have been complicated by the lack of transparency, long waiting times, and burdened with hidden fees. We are glad to create infrastructure that will benefit families, remote workers and communities across the nation who depend on money sent from overseas for their livelihoods. And we are looking forward to continuing our collaboration with Bank Alfalah, strengthening the financial ties between Pakistan and the rest of the world, and staying true to our vision: providing accessible, transparent and affordable payments,” said Andrew Stewart, Global Head of Networks, Thunes.

“Bank Alfalah is collaborating with Thunes to provide the most automated and seamless cross-border payments experience to Pakistanis. This solution reinforces our commitment to provide smarter and faster ways of sending remittances to Pakistan using digital innovation. This exciting new partnership with Thunes helps Bank Alfalah to become a game changer by enabling cross-border payments to be deposited to all bank account holders in Pakistan in real time,” said Saad Ur Rahman Khan, Group Head – Corporate, Investment Banking and International Business, Bank Alfalah.

With the addition of Pakistan, Thunes’ global network will now grow to 113 countries where it can facilitate inbound consumer or business payments.

About Thunes

Thunes is a B2B company that powers payments for the world’s fastest-growing businesses. Corporates and financial institutions can move funds seamlessly, securely and cost-effectively with Thunes’ well-established, reliable and far-reaching network. Thunes is used by leading global banks, money transfer operators, platforms and many other businesses to make payments to bank accounts, mobile wallets and cash pick-up providers around the world. With a single, simple connection, your business and customers can send payments to – and get paid in – every corner of the world. Instantly.

Thunes is headquartered in Singapore with regional offices in London, France, Shanghai, New York, Dubai, and Nairobi.

For more information, visit www.thunes.com

About Bank Alfalah

Bank Alfalah is one of the largest private banks in Pakistan with a network of over 740 branches in more than 200 cities across Pakistan, with international presence in Bangladesh, Afghanistan, Bahrain, and UAE. The Bank is owned and operated by the Abu Dhabi Group. Bank Alfalah is an emerging leader in the field of home remittances and provides beneficiaries a fast, reliable and free of cost service for receiving remittances from our global network of partner banks, money transfer operators and exchange companies.

For more information, please visit www.bankalfalah.com

Transaction of 100,000 shares of Siddiqsons Tin Plate Limited

Karachi, Siddiqsons Tin Plate Limited informed Pakistan Stock Exchange about transaction of shares of the company. 100,000 shares @ Rs. 17.05 per share were sold in the market on August 24, 2021 through CDC.

Siddiqsons Tin Plate Limited was incorporated in Pakistan on January 29, 1996 as a public limited company by shares. The principal activity of the Company is manufacturing and sale of tin plates, cans and other steel products. Siddiqsons Tin Plate Limited is the Tin Plate Industry in Pakistan. Established in 1999, in collaboration with SOLLAC of France and MITSUBISHI CORPORATION of Japan. The factory is located at special industrial zone, Windhur Baluchistan, 95 kilometer from Karachi.

The project has a capacity to produce 120,000 tons per annum of Tin Plate, which is primarily used for making cans and containers for packaging of cooking oil, fruits, foods, vegetables, sea foods, beverages, lubricant oil and other edible stuff etc.

The total number of shares are 229,278,733. The Earnings per shares of the Company is (0.10) in 2020 which was 0.39 in 2019. The Profit After taxation in 2020 is (23,144,000) which was 86,891,000 in 2019.

Appointment of Chief Executive Officer of KSB Pumps Company Limited

Karachi, KSB Pumps Company Limited informed Pakistan Stock Exchange that Mt. Imran Ghani has been appointed as Chief Executive Officer of the Company as Managing Director of the Company with effect from August 24, 2021 in place of Mr. Sajid Mahmood Awan.

KSB Pumps Company Limited was incorporated in Pakistan on July 18, 1959. The Company is a subsidiary of KSB SE & Co. KGaA. It is principally engaged in the manufacture and sale of industrial pumps, valves, castings and related parts and provision of aftermarket services.

KSB Pumps Company Limited specializes in pumps, valves and systems for industrial, building services, energy and water applications. KSB Pumps Company Limited has its Head Office based in Lahore, a manufacturing facility at Hassanabdal with, sales houses in Lahore, Karachi, Multan, and Rawalpindi.

The total number of shares of the Company are 13,200,000. The Earnings per shares of the Company is 1.24 in 2020 which was (6.66) in 2019. Their Profit after tax in 2020 is 16,383,000 which was 87,880,000 in 2019.

Corporate Briefing Session of the Hub Power Company Limited

Karachi, the Hub Power Company Limited informed Pakistan Stock Exchange that the corporate briefing session of the Company will be held on August 31, 2021 through video link.

The Hub Power Company Limited was incorporated in Pakistan on August 1, 1991 as a public limited company. The principal activities of the Company are to develop, own, operate and maintain power stations. The Company owns an oil-fired power station of 1,200 MW in Baluchistan (Hub plant). Narowal Plant is also an RFO-fired, engine based, combined cycle power station, located at Mouza Poong, Narowal in Punjab.

The Company also holds 75% controlling interest in Laraib Energy Limited, which is a run off the river hydel power plant downstream of Mangla Dam in Azad Jammu and Kashmir. The joint-venture with China Power International Holdings (CPIH), a 1320MW imported coal-based power plant, China Power Hub Generation Company Limited (CPHGC) has started its commercial operations providing energy to over 4 million households.

The total numbers of shares are 1,297,154,400. The Earnings per shares of the Company is 7.84 in 2020 which was 6.70 in 2019. Their Profit after Taxation is 10,166,739,000 in 2020 which was 8,036,981,000 in 2019.

Transmission of Quarterly Report for the Period Ended June 30, 2021 of Fauji Fertilizer Bin Qasim Limited

Karachi, Fauji Fertilizer Bin Qasim Limited informed Pakistan Stock Exchange that Quarterly Report of the Company for the period ended June 30, 2021 have been transmitted through PUCARS and is also available on Company’s website.

Fauji Fertilizer Bin Qasim Limited is a public limited company incorporated in Pakistan. The Company is involved in the manufacturing and distribution of chemical fertilizers for the farmers and agriculture sector of Pakistan. The company manufacturers DAP and Granular Urea in Pakistan. The Company is listed on Pakistan Stock Exchange (PSX) since May 14, 1996 and the trade symbol of the company is “FFBL”.

The manufacturing complex is located at Bin Qasim Eastern Industrial Zone, Karachi, whereas its registered office (Head Office) is in DHA Phase-2 Islamabad.

Major shareholders of the company are Fauji Foundation (18.29%) and Fauji Fertilizer Company (FFC) holds (49.88%) shares of the company. This makes the company part of The Fauji Group which is one of the largest conglomerates of Pakistan and has stakes in fertilizer, cement, power, oil & gas sectors of Pakistan Fauji Group is also involved in foods , oil and grain terminal operations and financial services by owning Askari Bank Limited.

The shares of the Company are 1,291,252,857. The Earnings per shares of the company is 2.12 in 2020 which was (5.72) in 2019. Their Profit after Taxation is 2,192,437,000 in 2020 which was (5,920,745,000) in 2019.

Change of Time of the Board Meeting of Bank of Khyber

Karachi, Bank of Khyber informed Pakistan Stock Exchange in continuation to their previous announcement on August 16, 2021, to inform that the Board Meeting scheduled to be held on August 26, 2021 at Peshawar will now be started at 04:00 p.m. Date and Place will remain the same.

The Bank of Khyber was established 1991 through an Act passed by the Provincial Legislative Assembly. The principal business of the Bank is commercial banking and related services. The Bank acquired the status of a scheduled bank in 1994.

The bank has been associated with business and commercial circles and has been engaged in catering to the financial needs of all sectors. They are also involved in extending funded and non-funded facilities to its customers for various business needs. They have 179 branches across the country.

The total shares of the Bank are quoted on Pakistan Stock Exchange i.e: 1,050,389,726. The Earnings per shares in 2020 is 2.15 which was 1.31 in 2019. The Profit after Taxation of the company is 2,151,783,000 in 2020 which was 1,306,039,000 in 2019.

Material Information of Synthetic Products Enterprises Limited

Karachi, Synthetic Products Enterprises Limited informed Pakistan Stock Exchange to sub-divide the face value of the shares of the Company from Rs. Ten (10.00) to Five (5.00) each, by way increasing the number of shares to double, in accordance with section 85 (1) (b) of the Companies Act 2017.

Synthetic Products Enterprises Limited (SPEL) is a part of SPEL Group which provides one stop shopping to customers for plastic products.

With its three plants, one in Kotlakhpat two in Pandoki, Lahore, it is organized in the product lines of Molds and Dies Manufacturing, Automotive Parts, Food Packaging, Plastic Crates and Off Road Vehicle Parts.

SPEL now has a portfolio of varied products with a large client base. Supplies are made to assemblers and manufacturers of cars, tractors, motor cycles, electronic equipment, road construction equipment etc. We also provide Plastic Packaging for Food, Hair Care, Skin Care and Pharmaceutical products.

The symbol “SPEL” is being used by the stock exchange for the shares of Synthetic Products Enterprises Limited.

Bonus Shares of Synthetic Products Enterprises Limited

Karachi, Synthetic Products Enterprises Limited informed Pakistan Stock Exchange that a final bonus dividend @ 8% i.e. 8 shares each for every 100 shares held by issuance of 7,397,630.00 ordinary shares of Rs. 10 each as fully paid bonus share be and is hereby proposed to the shareholders for approval in the upcoming Annual General Meeting of the Company and that the bonus shares shall be issued by capitalizing a sum of Rs. 73,976,300.00 out of the share premium account of the Company.

Synthetic Products Enterprises Limited (SPEL) is a part of SPEL Group which provides one stop shopping to customers for plastic products.

With its three plants, one in Kotlakhpat two in Pandoki, Lahore, it is organized in the product lines of Molds and Dies Manufacturing, Automotive Parts, Food Packaging, Plastic Crates and Off Road Vehicle Parts.

SPEL now has a portfolio of varied products with a large client base. Supplies are made to assemblers and manufacturers of cars, tractors, motor cycles, electronic equipment, road construction equipment etc. We also provide Plastic Packaging for Food, Hair Care, Skin Care and Pharmaceutical products.

The symbol “SPEL” is being used by the stock exchange for the shares of Synthetic Products Enterprises Limited.

Material Information of Engro Corporation Limited

Karachi, Engro Corporation Limited informed Pakistan Stock Exchange that total equity of PKR 21.5 billion in their telecommunications infrastructure vertical. This investment is being made in our wholly-owned subsidiary Engro Connect (Private) Limited, which will serve as a platform for our telecommunications vertical initiatives.

These funds will primarily be utilized to fuel expansion in the Build-to-Suite (BTS) tower business of Enfrashare (Private) Limited, including but not limited to provision of efficient energy solutions, installation of state-of-the-art network monitoring solutions and exploration of other investment avenues within the connectivity value chain.

Engro Corporation Limited was incorporated in Pakistan as a Public Listed Company. It is a subsidiary of Dawood Hercules Corporation Limited which is the parent Company. The principal activity of the Company is to manage investments in subsidiary companies, associated companies and joint venture, engaged in fertilizers, PVC resin manufacturing and marketing, food, energy, development and operations of telecommunication infrastructure, LNG, Chemical terminal and storage businesses.

The Shares of the Company are 576,163,230. The Earnings pee shares of the company is 28.29 in 2020 which was 24.83 in 2019. The Company had a Profit of Rs. 16,301,478,000 in 2020 which was 14,303,318,000 in 2019.

Unpaid Right shares of Husein Sugar Mills Limited

Karachi, Husein Sugar Mills Limited informed Pakistan Stock Exchange that 14,069,697 unpaid rights of the Company have been credited into the respective accounts in the Central Depository System at end of August 24, 2021.

Husein Sugar Mills Limited was incorporated on February 14, 1966 in Karachi and received its Certificate for Commencement of Business on April 16, 1966. The Company is principally engaged in the business of production and sale of sugar and by products.

The plant is located in Jaranwala, approximately 80KM from Lahore. The area has large tracts of land where sugarcane is cultivated and produces approximately 40-45 million maunds of sugarcane a year.

The total numbers of shares are 38,520,000. The Earnings per share is (7.43) in 2020 which was 9.05 in 2019. The Profit after Taxation of the Company is (286,206,000) in 2020 which was 293,543,000 in 2019.