Corporate Watch

25 Jan 2020


Mari Petroleum profits jump

KARACHI: Mari Petroleum on declared profit after tax at Rs7.29 billion and earnings per share at Rs54.61 for 2QFY20.

This reflected a growth of 23pc over PAT at Rs5.916bn (EPS: Rs44.35) in same period last year. It took the 1HFY20 earnings at Rs14.75bn (EPS: Rs110.55), up 33pc. The board also announced an interim cash dividend at Rs4.10 per share.

OGDC discovers gas in Khairpur

KARACHI: Oil and Gas Development Company (OGDC) in a filing with the stock exchange on Friday said the joint venture of Ranipur block – comprising the company as the operator with 95pc interest while 2.5pc interest each by the Government Holdings and Sindh Energy Holding – had discovered gas and condensate in the exploratory well Metlo No.01. The well is located in Khairpur, Sindh.—Our Equities Correspondent

Deutsche Bank adds former German minister to board

FRANKFURT MAIN: Germany’s biggest lender Deutsche Bank said on Friday it had recruited former foreign minister and Social Democratic Party (SPD) leader Sigmar Gabriel to join its supervisory board.

“With his wealth of experience, having served as environment minister, economic affairs minister and foreign minister, Sigmar Gabriel will make a unique contribution,” supervisory board chief Paul Achleitner said in a statement.

For his part, Gabriel welcomed “the opportunity and the responsibility to help shape the future of the German and European economy” at Deutsche Bank.

The lender has spent years struggling to overcome the aftershocks of the financial crisis and sector-wide headwinds like the European Central Bank’s negative interest rates policy.—AFP

German media giant quits stock exchange

BERLIN: German media giant Axel Springer announced on Friday that it would begin delisting from the Frankfurt Stock Exchange, following its takeover by American investment firm KKR.

“Axel Springer SE plans to withdraw from the stock exchange,” the group confirmed in a statement.

The withdrawal announcement from Springer, which has been listed on the MDax index for the last 35 years, comes after KKR bought 44.9pc of the company’s shares to become principal shareholder in a deal concluded last year.—AFP

CA Women Directory launched

KARACHI: The CA Women Committee of Institute of Chartered Accountants of Pakistan on Friday launched CA Women on Board Directory at Pakistan Stock Exchange.

The directory is a compilation of details of over 350 CA Women who are eligible for appointment as independent directors on the boards of public interest entities.

Published in Dawn, January 25th, 2020