Karachi, First Treet Manufacturing Modaraba informed Pakistan Stock Exchange that the resolution passed in annual general meeting of the company held on October 27, 2022 at Karachi.
Resolved that the extraordinary general meeting of the company held on November 23, 2021 be and are hereby approved and confirmed.
“Resolved that the Annual Audited Accounts of the company for the year ended June 30, 2022 together with the Reports of the Independent Auditors, Chairman and Director’s review reports thereon be and are hereby approved and adopted.”
Treet Corporation was setup in 1952 and is almost as old as the country itself. Companies within Group are Semi-Autonomous units responsible for their own budgeting, new products launch, market decisions and new venture exploration and pricing. Operating as strategic business units, they are treated as internal profit centers by the corporate headquarter i.e. Treet Corporation limited, the holding company. These business units develop their business strategies though independently from other businesses but are trained to remain in-tune with broader corporate business policies. Corporate strategy (by the Parent Company) seeks to develop synergies across business units by sharing and coordinating staff, making investments in these units and using them to complement other corporate business activities.
The symbol “FTMM” is being used by the stock exchange for the First Treet Manufacturing Modaraba.