Promote investment in industrial and agro-based projects with high value addition, export potential, and maximum utilization of indigenous resources. Build and manage a diversified equity portfolio promising optimum return. Mobilize funds in a cost effective manner to meet our financing needs Achieve sustainable growth and be competitive in our commercial operations. Undertake investment advisory services and formation / participation in financing syndicates.
To excel in performance and play a leading role in the financial sector in Pakistan.
Saudi Pak aims at strengthening economic cooperation between the brotherly people of Saudi Arabia and Pakistan. To achieve this objective, we are committed to add value for our stakeholders through capital formation and investment related activities in Pakistan and abroad.
On behalf of the Board of Directors, I present the 41st audited financial statements of Saudi Pak Industrial and Agricultural Investment Company Limited, including consolidated accounts and the accompanying Auditors’ Report and Directors’ Report for the year ended December 31, 2022.
During the year, the management focused on consolidating balance sheet, recovering non- performing loans and managing counterparty credit exposures that mounted due to the rising inflationary impacts, fluctuating exchange parities and interest rates volatility in the market.
The company disbursed financing of Rs. 3.76 billion during the year, which contributed to an increase in total assets of 20%. The profitability of the company remained under stress due to the impact of volatile interest rates on the company’s Treasury earnings. The company recorded profit before tax of Rs. 394 million with a profit after tax of Rs. 311 million.
The credit quality and financial stability of the company were reconfirmed by the credit rating agency VIS, which maintained our long-term entity rating at AA+ and short- term rating at A-1+ with a stable outlook.
Moving forward, the company remains well-positioned to capitalize on available opportunities while closely monitoring the overall economic climate to mitigate any potential risks. The Board of Directors fully supports the management’s plans.
The Board of Directors warmly welcomes the new CEO, Mr. Rizwan Sheikh, who joined on January 2, 2023, and expresses its gratitude for the contributions of former CEO, Mr. Kamal Uddin Khan, over his more than a decade of association with the company.
We acknowledge the support of our sponsors, the Kingdom of Saudi Arabia and the Islamic Republic of Pakistan, as well as the professional guidance of the State Bank of Pakistan and the Securities Exchange Commission of Pakistan. I am also thankful to the Board Members, management, and staff for their contributions to the company’s performance.
Thank you for your continued support.
Sultan Mohammed Hasan Abdulrauf
View our yearly milestones below
Completion of Saudi Pak Tower
Acquisition of Standard Chartered Mercantile Leasing Company Limited
(Later Renamed Saudi Pak Leasing Company Limited)
Established Regional office at Karachi
Acquisition of Prudential Commercial Bank Limited
(Later Renamed Saudi Pak Commercial Bank Limited)
Established Regional office at Lahore
View our Distinguished Affiliates below
Saudi Pak Real Estate Limited, a wholly owned subsidiary of Saudi Pak Industrial and Agricultural Investment Company Limited was established with prime objective of real estate development. Its activities include investment in properties both for investment and development purposes, property management services, investment in joint ventures and other related services.
Saudi Pak Real Estate Limited since its inception utilized its resources towards investment as well as development of properties. In addition to the strategy of earning capital gains the Company also made investments for regular rental income. Saudi Pak Real Estate Limited successfully completed its development project of “Saudi Pak Homes” at Lahore City earning good return on investment. Presently, the Company has investment in prime locations of Lahore and Islamabad. Future projects may also include joint venture with reputed firms.
In FY2019, the Company posted revenue of Rs. 35.34 million and net profit of Rs. 14.73 million. The net equity stood at Rs. 695.30 million with breakup value of Rs. 13.91 per share. The current portfolio and prudent utilization of available cash resources is expected to improve revenues and profitability of the Company in coming years.