Karachi: Dewan Automotive Engineering Limited (DWAE) has resolved a significant compliance issue with the Pakistan Stock Exchange (PSX). According to a recent notice, the company has addressed its failure to pay the Annual Listing Fee (ALF) for the past two years, as highlighted in PSX Notice No. PSX/N-1028 dated October 24, 2024. This development has led to the rectification of the non-compliance of Clause 5.11.1.(d) of the PSX Regulations against the company.

DWAE's non-compliance with PSX Regulation 5.11.1.(d) was primarily due to its inability to settle the ALF, which had been pending for two years. The rectification of this issue underscores DWAE's commitment to adhering to the regulatory requirements set forth by the PSX. However, despite this positive step, the company continues to face challenges that keep it listed in the Non-Compliant Segment of the PSX.

According to information available from the Pakistan Stock Exchange (PSX), DWAE remains non-compliant with Clauses 5.11.1.(a) and (g) due to ongoing issues. The continuous suspension of commercial production and business operations in its principal line of business, coupled with an adverse opinion issued by its statutory auditor in its audit report, have contributed to its ongoing non-compliance status. Until these significant issues are rectified, DWAE will remain quoted in the Non-Compliant Segment.

DWAE's journey towards full compliance with PSX regulations is closely watched by investors and market analysts. The company's ability to address its operational challenges and achieve compliance with all relevant clauses will be crucial for its future market performance. The resolution of the outstanding ALF indicates a move in the right direction, but significant hurdles remain as DWAE seeks to restore full confidence among stakeholders in the market.