Saudi Pak Industrial and Agricultural Investment Company Limited acquired 30 percent stake in Standard Chartered Mercantile Leasing Company Limited in 1997. Renamed as Saudi Pak Leasing Company Limited, the Company is listed at local bourses and is among largest companies in the leasing sector. As of June 30, 2009, paid up capital of the Company was Rs. 451.6 million with Saudi Pak’s stake at 35 per cent. Asset base of Saudi Pak Leasing as of June 30, 2009 was Rs. 5,902 million with Rs. 1,881 million net investments in leases.
Saudi Pak Real Estate Limited is 100 percent owned subsidiary of Saudi Pak. The Company started its operations in December 2007 with an initial paid up capital of Rs. 100 million. The capitalization of the Company has since been enhanced to Rs. 500 million. The Company achieved its break even in 2008 and earned net profit after tax of Rs. 45.2 million in 2009. Total assets of the Company stood at Rs. 531.4 million as at December 31, 2009.
Saudi Pak Insurance Company Limited is owned by Saudi Pak with 69.2 percent share holdings. Saudi Pak Insurance Company Ltd commenced operations in 2005 with a paid up capital of Rs.200 million well above the regulatory requirement of Rs.80 million. The paid up capital was enhanced to Rs. 250 million in 2006 and Rs. 325 million in 2008. The Company has its presence in major cities of the country through 11 branches.
Saudi Pak Insurance Company Limited is owned by Saudi Pak with 69.2 percent share holdings. Saudi Pak Insurance Company Ltd commenced operations in 2005 with a paid up capital of Rs.200 million well above the regulatory requirement of Rs.80 million. The paid up capital was enhanced to Rs. 250 million in 2006 and Rs. 325 million in 2008. The Company has its presence in major cities of the country through 11 branches.