Change of Chief Financial Officer of Orient Rental Modaraba

Karachi, Orient Rental Modaraba informed Pakistan Stock Exchange that Mr. Muhammad Farukh, Chief Financial Officer has ceased to be the Chief Financial Officer of the Company with effect from July 23, 2021 and Ms. Effat Assad has been appointed as Chief Financial Officer.

“The Orient Rental Modaraba is a multi-purpose and perpetual Modaraba.

The Modaraba is engaged in providing equipment rental solutions, operation and maintenance services. The modus operandi includes ownership and renting out of equipment and provision of operation and maintenance services. The renting of equipment is on Ijara mode for tenor ranging from one hour to days, weeks, months and year(s).

The equipment for rental includes fleet of Power Generation Equipment, Commercial Vehicle, Material Handling Equipment and Construction Machinery. The rental solution shall be provided locally as well as internationally.

In addition, the Modaraba is also engaged in providing Operation & Maintenance (O&M) services to customers who own the equipment and require O&M service providers for maintenance. The tenor of services varies from client to client.