Month: September 2022

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The 13th International Infrastructure Investment and Construction Forum Concludes in Macao with Aggregate Investment Value of US$15 billion Cooperation Agreements Signed

MACAO, Sept. 30, 2022 /PRNewswire/ — The two-day 13th International Infrastructure Investment and Construction Forum (“IIICF”, “the Forum”), co-organized by China International Contractors Association and Macao Trade and Investment Promotion Institute, successfully concluded in Macao on September 29. Forty-one events were held at this year’s Forum, attracting more than 1,300 leaders and executives from over 600 organizations including governmental agencies, financial institutions, contractors and companies on the industry chain from around the world who participated in the Forum onsite, as well as over 500,000 visitors who watched the live video stream of the Forum online.

As the most influential annual exhibition in the global infrastructure investment and construction sector, the Forum has achieved fruitful results in promoting international cooperation and business matchmaking. Some 210 business meetings and matchmaking activities were held during the Forum, which led to the signing of 19 cooperation agreements on housing and infrastructure projects in Hong Kong, iron ore projects in Kazakhstan, photovoltaic power plants in Argentina, and hydroelectric power plants and supporting transmission and substation projects in République démocratique du Congo, with an aggregate investment value of US$15 billion, an increase of 550 percent over last year. The exhibition area of the Forum was expanded by 20 percent compared with the previous edition, focusing on the exhibition of new technologies, products and services of the industry and leaders in related industries.

At the Forum, the Belt and Road Infrastructure Development Index (2022) and the Belt and Road Infrastructure Development Index Report (2022) were issued. The “Mechanism for International Sustainable Infrastructure Promotion” was launched, while Huawei released the “Smart Road Partner Go Global Program” and the Smart Highway White Paper, detailing Huawei’s comprehensive solutions to the international community for investment in as well as construction, operation and management of smart highways.

Fang Qiuchen, Chairman of the China International Contractors Association (CHINCA), said that the forum will further strengthen cooperation among all parties involved and expand the space for international cooperation, both of which are of great significance to the furthering of the Belt and Road initiative, the implementation global development initiatives and the facilitation of the build-out of a community of human destiny.

For more information, please visit http://en.iiicf.org/.

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Madison Newbond Hotel Lending Platform Originates $20 Million Loan for the Balfour Hotel in Miami Beach

NEW YORK, Sept. 30, 2022 (GLOBE NEWSWIRE) — Madison Newbond, the institutional lending platform of Madison Realty Capital and Newbond Holdings that provides first mortgages, mezzanine loans and preferred equity to hotel owners and developers nationwide, today announced that it has provided a $20 million loan to FullG Capital’s equity sponsorship group for the acquisition of the Balfour Hotel Miami Beach (the “Balfour”), an independent boutique hotel located at 350 Ocean Drive in Miami Beach, Florida.

Located within Miami’s famed South Beach Art Deco District and situated less than one block from the beach, the Balfour contains 82 guestrooms across two towers, as well as an upscale restaurant and bar, an outdoor plunge pool, complimentary beach services, and approximately 1,300 square feet of rooftop terrace space. The hotel is managed by Driftwood Hospitality Management under a third-party hotel management agreement.

Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “Miami is no longer just a top destination for domestic and international leisure travel, but has rapidly become a growing hub for corporations and financial firms seeking to relocate their headquarters. We are pleased to provide a flexible financing solution to facilitate the acquisition of a superbly well-located hotel in one of the most liquid and dynamic hospitality markets in the country.”

Drew Coles, President of FullG Capital said, “Madison Realty Capital is a highly experienced lender in the Miami hospitality market with a reputation for certainty of execution. We are thrilled to leverage Madison Newbond’s attractive financing capabilities to complete the acquisition of the Balfour.”

Neil Luthra, Founding Partner at Newbond, added, “Madison and Newbond’s extensive operating experience enables us to efficiently underwrite hospitality lending opportunities and provide borrowers with a reliable financing partner in today’s choppy credit environment.  The Balfour perfectly exemplifies this, and we are excited to work with the FullG Capital team to bring their business plan to life.”

Madison Realty Capital has significant experience investing in hotel and luxury condominium developments in Miami and across South Florida. Notable transactions include an $85 million loan to The Related Group, BH Group, Teddy Sagi’s Globe Invest, and Wanxiang Group Corporation for the acquisition and pre-development of a luxury condominium project on Fisher Island in Miami Beach, a $76 million loan to The Related Group for the development of District 225, a 343-unit luxury condominium project in Miami, a $210 million loan to Fort Partners for the construction of the Four Seasons Hotel and Private Residences Fort Lauderdale, and a $105 million loan to Fort Partners for the acquisition and modernization of the Four Seasons Hotel Miami.

Madison Newbond launched in November 2021 with approximately $500 million of initial lending capacity and has plans to add scale in line with existing opportunities.

 

About Madison Realty Capital 

Madison Realty Capital is a vertically integrated real estate private equity firm that, as of August 31, 2022, manages approximately $9.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $21 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has approximately 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been named to Commercial Observer’s prestigious “Power 100” list of New York City real estate players. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.

About Newbond Holdings

Newbond Holdings, founded by Neil Luthra and Vann Avedisian in 2021, is a real estate investment and operating platform focused on debt and equity investments across multiple real estate product types with a hospitality focus as well as investments in related operating businesses and technology platforms. The partners at Newbond have completed over $15 billion of debt and equity transactions. As a vertically integrated operating and investment platform, Newbond is uniquely positioned to create significant value beyond the typical investment process through creative structuring, operations and the development of single and multiple asset brands.

Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com
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Transmission of Annual Report for the Year Ended June 30, 2022 of Tariq Glass Industries Limited

Karachi, Tariq Glass Industries Limited informed Pakistan Stock Exchange that Annual Report of the Company for the year ended June 30, 2022 have been transmitted through PUCARS and is also available on Company’s website.

“Tariq Glass Industries Limited was incorporated in Pakistan in 1978 and converted into a Public Limited Company in the year 1980. The Company is principally engaged in the manufacture and sale of glass containers, opal glass, tableware and float glass.

With a production capacity of almost 300 tons per day, Tariq Glass Industries Ltd. produces its tableware products on single and double gob press machines as well as H-28 (press & blow) and stretch machines.

In 2013, Tariq Glass Industries Ltd. launched its latest venture, Tariq Float Glass. An ultra-modern plant having a production capacity of 550 tons per day. This facility is capable of producing clear float glass ranging from 2mm to 13mm as well as 5mm tinted and reflective glass through an online CVD coating machine, along with sandblasted glass and aluminum coated mirrors.

The Company is listed on Pakistan Stock Exchange and the total number of shares are 137,733,750. The Earning per share is 6.91 in 2020 which was 12.01 in 2019. The Profit after tax of the Company is 761,589,000 in 2020 which was 1,323,678,000 in 2019.”

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Transmission of Annual Report for the Year Ended June 30, 2022 of AN Textile Mills Limited

Karachi, AN Textile Mills Limited informed Pakistan Stock Exchange that Annual Report of the Company for the year ended June 30, 2022 have been transmitted through PUCARS and is also available on Company’s website.

“AN Textile Mills Limited is a public limited company incorporated in Pakistan. The principal activity of the company is manufacturing, trading and sale of yarn and cloth. The Company has changed its name from Ishaq Textile Mills Limited to AN Textile Mills Limited.

The total numbers of shares are 9,660,000. The Earnings per share is (8.32) in 2020 which was 1.97 in 2019. The Profit after Taxation is (80,327,000) in 2020 which was 19,020,000 in 2019.”

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Change of Directors of TRG Pakistan Limited

Karachi, TRG Pakistan Limited informed Pakistan Stock Exchange that Mr. Mohammedullah Khan Khaishgi has been appointed as Director of the company with effect from September 29, 2022 in place of Mr. Khaldoon Bin Latif.

“TRG Pakistan Limited was incorporated in Pakistan as a public limited company on December 2, 2002. The principal activity of the Company is to act as a holding company. The Parent Company, (through its subsidiary, The Resource Group International Limited) has a portfolio of investments primarily in the Technology, IT Enabled Services and Medicare Insurance sectors.

TRG obtained the certificate of commencement of business on February 27, 2003. The operations of the Company effectively started on April 11, 2003.

The total number of shares of the Company is 545,390,665. The Earning per share is 0.14 in 2020 which was 0.00 in 2019. The Profit after tax is 76,165,000 in 2020 which was 1,855,000 in 2019.”

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Transmission of Annual Report for the Year Ended June 30, 2022 of Pakistan PVC Limited

Karachi, Pakistan PVC Limited informed Pakistan Stock Exchange that Annual Report of the Company for the year ended June 30, 2022 have been transmitted through PUCARS and is also available on Company’s website.

“Pakistan PVC Limited is incorporated in Pakistan on October 19, 1963. The company is engaged in production and sale of PVC resin, PVC pipes and fittings, PVC compound and Caustic soda. The company has installed a water purification plant to process and sell mineral water.

Pakistan PVC Limited was constructed in the middle sixties in collaboration with M/s Shin-Etsu Chemical Industry Company Limited of Japan. The plant started producing PVC Pipes as early as in 1966.

The total numbers of shares are 14,958,000. The Earnings per share is (1.05) in 2020 which was (1.17) in 2019. The Company had a loss of Rs. 15,759,000 in 2020 which was 17,479,000 in 2019.”

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Transaction of 66,000 shares of EFU Life Assurance Limited

Karachi, EFU Life Assurance Limited informed Pakistan Stock Exchange about transaction of shares of the company. 66,000 shares @ Rs. 204.31 per share were bought from the market on September 29, 2022 through CDC.

“EFU Life Assurance Limited is a Public Limited company incorporated in Pakistan on August 9, 1992. The company is engaged in life insurance business which includes ordinary life business, pension fund business and accident and health business. It is a subsidiary of EFU General Insurance Ltd.

The Government of Pakistan reopened the life insurance business to the private sector organizations and EFU Life Assurance Ltd started operations in November 1992.

The Shares which the company has introduced are 100,000,001. The Earnings per shares of the company has increased in 2020 and is 17.84 which was 15.49 in 2019. Their Profit after Taxation is 1,784,150,000 in 2020 which was 1,549,264,000 in 2019.”

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Financial results of TRG Pakistan Limited for Year ended June 30, 2022

Karachi, TRG Pakistan Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on September 29, 2022.

The agenda of the meeting was discussion of profit and loss account for Year ended June 30, 2022 which portrayed a loss of Rs. 4,980,726 with loss per share 9.132 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 October 19, 2022 to October 25, 2022 (both days inclusive).

“TRG Pakistan Limited was incorporated in Pakistan as a public limited company on December 2, 2002. The principal activity of the Company is to act as a holding company. The Parent Company, (through its subsidiary, The Resource Group International Limited) has a portfolio of investments primarily in the Technology, IT Enabled Services and Medicare Insurance sectors.

TRG obtained the certificate of commencement of business on February 27, 2003. The operations of the Company effectively started on April 11, 2003.

The total number of shares of the Company is 545,390,665. The Earning per share is 0.14 in 2020 which was 0.00 in 2019. The Profit after tax is 76,165,000 in 2020 which was 1,855,000 in 2019.”

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Annual general meeting of Pakistan PVC Limited to be held on October 21, 2022

Karachi, Pakistan PVC Limited informed Pakistan Stock Exchange that annual general meeting of the company is scheduled to be held on October 21, 2022 at Gharo.

The agenda of the meeting will be confirming the minutes of Annual General Meeting held on October 22, 2021, to receive, consider and adopt the Annual Audited Financial Statements of the Company for the year ended June 30, 2022 together with the Directors and Auditors Reports thereon, to appoint auditors for the year ending June 30, 2022 and fix their remuneration and to transact any other business with the permission of the chair.

Further, the closed period of the company is from October 16, 2022 to October 21, 2022 (both days inclusive).

“Pakistan PVC Limited is incorporated in Pakistan on October 19, 1963. The company is engaged in production and sale of PVC resin, PVC pipes and fittings, PVC compound and Caustic soda. The company has installed a water purification plant to process and sell mineral water.

Pakistan PVC Limited was constructed in the middle sixties in collaboration with M/s Shin-Etsu Chemical Industry Company Limited of Japan. The plant started producing PVC Pipes as early as in 1966.

The total numbers of shares are 14,958,000. The Earnings per share is (1.05) in 2020 which was (1.17) in 2019. The Company had a loss of Rs. 15,759,000 in 2020 which was 17,479,000 in 2019.”

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Transmission of Annual Report for the Year Ended June 30, 2022 of Sitara Chemical Industries Limited

Karachi, Sitara Chemical Industries Limited informed Pakistan Stock Exchange that Annual Report of the Company for the year ended June 30, 2022 have been transmitted through PUCARS and is also available on Company’s website.

“Sitara Chemical Industries Limited was incorporated in Pakistan on September 08, 1981 as a public limited company. The Company is currently organized into two operating divisions and these divisions are Chemical Division (manufacturing of caustic soda and allied products) and Textile Division (manufacturing of yarn and fabric).

The total numbers of shares are 21,429,524. The Earnings per share is 13.94 in 2020 which was 41.32 in 2019. The Profit after Taxation of the Company is 298,763,000 in 2020 which was 885,458,000 in 2019.”

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Financial results of Mahmood Textile Mills Limited for Year ended June 30, 2022

Karachi, Mahmood Textile Mills Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Multan on September 29, 2022.

The agenda of the meeting was discussion of profit and loss account for Year ended June 30, 2022 which portrayed a profit of Rs. 3,178,195,303 with earnings per share 169.50 basic and diluted respectively.

Further, 100% payment of cash dividend, bonus shares and right shares was agreed.

Furthermore, the share transfer books of the company will remain closed from October 07, 2022 to October 21, 2022 (both days inclusive).

“Mahmood Textile Mills Limited is a fully integrated organization. The company’s shares are quoted on Stock Exchange. The company’s registered Head Office is located at Mehr Manzil Lohari Gate Multan. The company’s mills are situated at Mahmoudabad, Multan Road, Muzaffargarh, and Masoodabad, D.G. Khan Road, Muzaffargarh.

The symbol “MEHT” is being used by the stock exchange for Mahmood Textile Mills Limited.”

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Transmission of Annual Report for the Year Ended June 30, 2022 of Macter International Limited

Karachi, Macter International Limited informed Pakistan Stock Exchange that Annual Report of the Company for the year ended June 30, 2022 have been transmitted through PUCARS and is also available on Company’s website.

“Macter International Limited was incorporated in Pakistan in 1992 as a private limited company and was converted into a public limited company in 2011. The principal activity of the company is to manufacture and market pharmaceutical products.

The total numbers of shares are 39,144,351. The earnings per share is 0.38 in 2020. The Profit after Taxation is 14,930,000 in 2020.”