Karachi, Saudi Pak Leasing Company Limited informed Pakistan Stock Exchange that Annual Report of the Company for the year ended June 30, 2017 have been transmitted through PUCARS and is also available on Company’s website.
Saudi Pak Leasing Company Limited was incorporated in January
1991. In October 1997, Saudi Pak Industrial & Agricultural Investment
Company acquired the entire 30% shareholding of Standard Chartered Bank. SAPICO
is the second largest of the three investment companies set up by the
Government of Pakistan as joint venture with other sovereigns. The Saudi
Arabian government holds 50% equity stake in SAPICO with the other 50% held by
Pakistan. The Company has a seven member board of which three, including the
CEO, represent SAPICO, two, the Piracha Group, and one each, the Premier
Mercantile Services and NIT. SPLC is one of the largest leasing companies in
Pakistan in terms of asset size. The registered office of the company is
located in Karachi. The company is listed on all the three stock exchanges in
Pakistan which are namely Karachi, Lahore and Islamabad stock exchanges.
SPLCs main activity is writing full payout financial leases for establishing corporate entities. The preferred assets for leasing are machinery, computers, vehicles etc. The focus of the company is on the blue chip segment, which includes multinational companies and established local companies such as small and medium sector enterprise. The products of the company are for sole proprietorship, partnership concerns or even private limited companies. Its financial services are offered in various categories such as business and office equipment, manufacturing machinery, heavy machinery, medical equipment, automobiles and generators.
The symbol “SPLC” is being used by the stock exchange for the shares of Saudi Pak Leasing Company Limited.