Report
Shumaila Badar
EUR 4.59 For Business Accounts Only

PPL’s Directors Worry About Circular Debt

Following are the most significant quotes from Financial Statements released this past week. Pakistan Petroleum (PPL) transmitted its annual report for the second time, and mentioned that circular debt was a big issue for the com-pany. It also gave details on its offshore drilling plans. Also of interest this week was Fazal Cloth Mill’s (FZCM) re-port wherein the company mentioned that its power project will start production by the end of this year

Underlyings
Fazal Cloth

Fazal Cloth Mills Limited is engaged in manufacturing and sale of yarn and fabric. The Company produces both spinning and weaving products. The Company produces spinning yarns, such as compact yarn, cotton carded/combed yarn, supima/giza cotton yarn, plied yarn (two for one twisted), modal cotton yarn, viscose cotton yarn, bamboo cotton yarn, core spun yarn with lycra, certified organic cotton yarn, certified fair trade cotton yarn, certified coolmax yarn and certified better cotton yarn, among others. The Company produces weaving products, such as twills, satins/stripe satins/sateen, percales, sheeting, structural fabrics, industrial fabrics, work wear, poplin/canvas/matt and stretch twill/poplin/satin, among others. The Company owns and operates approximately five spinning units, which includes over 190,390 spindles, over 1740 rotors and approximately 224 Air-jet Picanol Looms. The Company's units have gas fired power generation with a capacity of 29.9 mega watts.

Pakistan Petroleum Ltd.

Pakistan Petroleum Limited (PPL) is a supplier of natural gas. The Company is principally engaged in conducting exploration, prospecting, development and production of oil and natural gas resources. The Company operates nine producing fields, which include Sui, Kandhkot, Adhi, Mazarani, Chachar, Adam, Adam West, Shahdadpur and Shahdadpur West. It has working interests in approximately 20 partner-operated producing fields. Its partner-operated fields include Qadirpur Gas Field, Tal Block, Miano Gas Field and Sawan Gas Field. The Company, along with its subsidiaries, has a portfolio of approximately 40 exploration blocks, of which over 20 are operated by the Company, including Block-8 in Iraq, while approximately 20 blocks consisting of three offshore leases in Pakistan and two onshore concessions in Yemen are operated by joint venture partners. Its gas production from its operated and partner-operated fields is approximately one billion cubic feet of gas per day.

Pioneer Cement Ltd.

Co. is engaged in the manufacture and sale of cement and clinker.

Redco Textile

TRG Pakistan

TRG Pakistan Limited is a holding company. The principal activity of the Company is to acquire, invest and manage operations relating to business process outsourcing, online customer acquisition, marketing of medicare related products, and contact center optimization services through its subsidiary, The Resource Group International Limited. It operates through four segments: call center, software and artificial intelligence business, medicare health insurance and market research. Its call center segment involves the provision of customer service support through telephone. Its Software and artificial intelligence (AI) segment provides optimized call outcomes for contact centers by pairing agents with callers based on behaviors and other related data. Its Medicare health insurance segment is engaged in marketing medicare insurance policies to senior citizens and other eligible individuals in the United States. Its market research segment provides analytical and consultation services.

Provider
Ismail Iqbal Securities
Ismail Iqbal Securities

Ismail Iqbal Securities (Private) Limited (IISPL) is a TREC holder of the Pakistan Stock Exchange, as well as an SECP registered Underwriter and Book Runner. IISPL provides comprehensive financial services including Equity Sales, Research on Equities and the Macro-Economy, Investment Advisory, Portfolio Management, Corporate Finance, and extensive services for Private Equity investors. IISPL services a diversified client base, from Institutional to Retail Investors including High Net worth Individuals.

Analysts
Shumaila Badar

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