Lahore, May 15, 2014 (PPI-OT): The senior management of Nishat Chunian Group visited The Lahore Stock Exchange to participate in the Corporate Briefing Program. The Group comprises mainly two companies Nishat Chunian Limited (NCL) and Nishat Chunian Power Limited (NCPL).
CBP is an interactive program initiated by the Lahore Stock Exchange under the Corporate Communications Department to encourage companies to come forward and share their financials and non financial projects before the members, TREC Holders, investors and the media to abridge the communicational gap between the listed companies and the market participants through this platform.
CFO –Nishat Chunian Ltd, Mr. Saqib Riaz, Ms. Sonia Karim – CFO (NCPL) along with the associated team addressed the participants explaining and highlighting the financial performance of the company. While speaking about the company’s growth prospects, Mr. Saqib shared that the group is in the phase to set up a 40MW coal based captive power plant to meet the internal electricity demands in a more efficient way that would help cutting the cost of electricity significantly.
While responding to queries of stakeholders, Mr. Saqib Riaz explained the effects of shaky dollar positions and how effectively the Company is managing this risk. He also explained the general market depression in textile sector and effects thereof.
CFO, Nishat Chunian Power Limited, Ms. Sonia Karim upon cheering to the appreciative comments of NCPL’s regular dividend payout trend expressed by the investors shared that Nishat Chunian Power has plans to set up a 660MW coal based power plant at a cost of USD 1 billion in near future.
Speaking about the Group’s unique selling preposition, the representatives of the company stressed that the group would continue to invest in research and development in order to deliver persistent high end product line to the customers.
Ms. Maryam Baqir, Manager Corporate Communications while addressing the participants stated that the purpose of the Corporate Briefing Program is to provide an opportunity to the companies to brief the market participants on the updated operational, financial and strategic positioning of the companies.
She expressed that such regular company – investor interaction helps the current investors to make well reasoned investment decisions about their investment in debt and equity securities. She stated that LSE considers it essential for the companies to participate in such programs so that there is no information asymmetry regarding our listed companies.
Corporate Briefing Program (CBP) aims to bridge the gap between the listed companies and investor’s community and provide them with an opportunity to share company’s first hand information. The basic goal of the Corporate Briefing Program is to enhance investor’s understanding of financial statements, company’s short term and long term projects.
CBP is an opportunity for investors to better understand the economic/financial affairs of a company which might affect company’s share price and ultimately impact their investments as well as investment decisions.
The LSE under this initiative will be conducting regular programs for different listed companies. Management of the companies shall brief and explain the investors about company’s assets and liabilities, financial soundness, credit worthiness, current and expected revenue and growth rates.
For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Cell: +92 306 4506086
Tel: Direct +92 4236280792, +92 423636 8000 Ext. 5031-5032
Fax: +92 42 3636 8485 – 111 441441