corporate watch


Hysab Kytab partners with Telenor Pakistan

KARACHI: Hysab Kytab and Telenor Pakistan on Tuesday announced their plans towards gaining a deeper understanding of consumer preferences, and collaborate on market research, credit risk profiling, analytics as a service, data insights and targeted advertising.

Hysab Kytab Country Head Yasir Ilyas said the partnership will help “achieve higher rates of customer satisfaction and understanding through the addition of many more data points that lead to a 360-degree view of the customer.”—Our reporter

EPCL to set up two new projects worth $22m

KARACHI: The Engro Polymer and Chemicals (EPCL) board approved a capital expenditure of $22 million to set up two new projects.

The company plans to invest $6m on new product line by adding Linear Alkyl Benzene Sulphonic Acid (LABSA) with an annual capacity of 24,000 metric tonnes.

On the other hand, the EPCL also plans invest $16m for High-Temperature Direct Chlorination -- a heat recovery patented technology that increases power efficiency and reduces carbon footprint. The company estimates the project will decrease gas consumption of PVC manufacturing by 10 per cent.

Both projects are due to be completed in 4Q2021.

Akzo to file for voluntary de-listing

karachi: Akzo Nobel Pakistan Ltd plans to go into voluntary de-listing from the Pakistan Stock Exchange.

A material statement to the PSX by the company stated that the directors of the ICI Omircron B.V, the foreign majority stakeholders with 75.81 per cent shareholding in Akzo Nobel Pakistan Limited (ANPL) had resolved to “consider to purchase all outstanding securities and shares of ANPL, without exception, from all security holders with the purpose to increase ownership and to de-list the company”.

ICI Omircron B.V. would purchase shares in accordance with clause 5.13.1 of the PSX Regulations.

Published in Dawn, November 27th, 2019