Engro Fertiliser earns Rs16.9bn

KARACHI: Engro Fertilisers recorded profit after tax (consolidated) at Rs16.9 billion for CY19 which translated to earnings per share at Rs12.64.

It represented a minor decline of three per cent over 2018 PAT at Rs17.4bn and EPS at Rs13.04. The board also declared a final cash dividend at Rs2 per share taking CY19 payout at Rs13. —Equities Correspondent

Malaysia to choose 5G partners

KUALA LUMPUR: Malaysia’s own security standards will dictate which companies take part in its planned 5G rollout this year, its communications minister told Reuters on Monday, as the United States pushes countries to exclude China’s Huawei.

Malaysia is aware of the “concerns that have been expressed around the world” about Huawei, but it will be governed by its own security standards in choosing partners for the nationwide 5G rollout planned for the third quarter, minister Gobind Singh Deo said.—Reuters

DP World to return to full state ownership

DUBAI: Dubai port and logistics giant DP World said on Monday it would return to full state ownership and delist from the Nasdaq Dubai, in a deal worth some $2.7 billion.

State-owned parent company Port and Free Zone World has offered to acquire the 19.55 percent of DP World’s shares currently traded on the Nasdaq Dubai stock exchange, DP World said in a statement.

Returning to full ownership by the emirate of Dubai would free the firm from the demand for short-term returns in the public market.—AFP

Two bidders for Thyssenkrupp elevators

FRANKFURT MAIN: Struggling German steel-to-submarines industrial conglomerate Thyssenkrupp said on Monday it had narrowed a list of potential buyers for its profitable elevator business down to two, not including competitor Kone.

“The company has decided to prioritize further negotiations with two consortia of financial investors,” Thyssenkrupp said in a statement, adding it was “on the home stretch”.

Published in Dawn, February 18th, 2020