Karachi: UDL International Limited (UDLI), emerging from the successful merger of First UDL Modaraba and UDLI, has announced a strategic refocusing and expansion of its business ventures under the leadership of its newly appointed chairman. This development was detailed in a recent chairman's review.

According to information available from the Pakistan Stock Exchange (PSX), the economic backdrop for UDLI's strategic pivot appears favorable. Pakistan is witnessing economic stabilization, characterized by a stable rupee, single-digit inflation, and declining interest rates, setting a promising stage for the company's new initiatives.

Post-merger adjustments have seen UDLI divest its Shariah-compliant Modaraba activities into a wholly-owned subsidiary, UDL Financial Services Limited, allowing UDLI to explore new business avenues. The chairman's report highlighted the launch of two significant ventures: trading in skincare products and establishing a fast-food business. The skincare venture is anticipated to commence operations by the third or fourth quarter of the current fiscal year, with the fast-food initiative still in the planning stages.

The board of UDLI has actively engaged in these strategic decisions, reflecting robust corporate governance and compliance practices even before the entity was listed. The board's composition—comprising members with substantial expertise in various sectors—enhances its strategic planning capabilities. These members have actively pursued new business opportunities, culminating in the decision to enter the skincare and fast-food markets.

The performance review of the board, mandated by Section 192 of the Companies Act 2017, has returned a satisfactory rating. This evaluation affirms the board's effectiveness in oversight, strategic planning, and resource management, crucial for steering the newly merged entity in a competitive market.

In his statement, the chairman expressed gratitude towards the management and staff for their dedication, the board members for their guidance and insights, and the shareholders for their continued trust and support in UDLI. The company is poised to enhance its portfolio and establish unique brands that resonate with consumers and stakeholders alike.