Karachi, JS Investments Limited informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 23, 2018.
The agenda of the meeting was discussion of Unconsolidated and consolidated profit and loss account for year ended December 31, 2017 which portrayed a profit of Rs. 32,215,576 and Rs. 34,329,266 with earnings per share 0.40 and 0.43 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 April 04, 2018 to April 10, 2018 (both days inclusive).
JS Investments Limited is a public listed company incorporated in Pakistan on February 22, 1995. The foundations of the company are laid under the Companies Ordinance, 1984. The company is a subsidiary of JS Bank Limited which has 52.24 percent direct holding in the company. The stocks of the company are quoted on the Karachi Stock Exchange of Pakistan. The registered office of the company is located at Karachi.
The company has obtained the license of an Investment Adviser and Asset Management Company under the Non-Banking Finance Companies Establishment and Regulation Rules, 2003 the NBFC Rules and the Non-Banking Finance Companies and Notified Entities Regulations, 2008. In addition, the company has also obtained registration to act as Pension Fund Manager under the Voluntary Pension System Rules, 2005. It is an asset management company for Closed-End, JS Growth Fund and JS Value Fund Limited and Open-End, Unit Trust of Pakistan, JS Income Fund, JS Islamic Fund, JS Aggressive Asset Allocation Fund, JS Fund of Funds, JS KSE-30 Index Fund, JS Aggressive Income Fund, JS Cash Fund and JS Large Capital Fund. It is a pension fund manager for JS Pension Savings Fund and JS Islamic Pension Savings Fund.
The company is a member of Mutual Fund Association of Pakistan. The founding partners include INVESCO PLC formerly known as AMVESCAP PLC and International Finance Corporation the private sector arm of the World Bank Group. The company maintains sufficient risk management systems and controls to enable it to identify, assess, mitigate, control and monitor risks in best interest of unit holders of the Collective Investment Schemes.