PakStox Outlook

# PSX continues in bullish mode! KSE100 Index today closed at its highest at 66,570. Added 663 points today closing up +1%. Most of the gains were in the year 2023. So YTD, the Index has only gained close to 3%. While One-Year gain is over 66%. https://substack.com/@pakinvestor/note/c-52564208

Offered by Book Building Method at a Floor Price of PKR 12.00/- per share A Brief Note on on Initial Public Offering (IPO) of Secure Logistics Group Ltd, [formerly Asia Capital Partners (Private) Limited] (the "Company" or "SLG"). PRINCIPAL PURPOSE OF THE EQUITY CAPITAL RAISING: The purpose of offering is primarily to build equity base and retire some debt in high interest rate environment.

AICL: Financial Results - Year Ended 31 December 2023 EPS: Rs 6.46 down almost 13%  over last year due to higher Underwriting losses. Cash Dividend Rs 1.5 per share. AICL has paid Rs 1.5 as interim dividend. Profit before Tax (PBT) at Rs. 3.91 billion grew by more than 24%. A substantial portion of income in the insurance sector is from investments. AICL income from investment for this year is Rs. 3.9 billion.

TPL REIT is created under Master-Feeder Fund structure, in which the international investors will have the opportunity to invest in TPL REIT through investments in one or more off-shore feeder funds (the “International Feeder Fund”).  The International Feeder Fund will allow international investors to invest in TPL REIT through a regulated tax efficient vehicle. The International Feeder Fund will be established in one or more offshore jurisdictions and managed through TPL Investment – a subsidiary of TPL RMC and foreign asset management company established in Abu Dhabi Global Market (“ADGM”).  See Prospectus

SYS: Financial Results - Year Ended 31 December 2023 EPS : Rs 29.4 declining 30% over last year. Cash Dividend Rs. 6 per share. However, a notable increase in financial charges and the slight decline in gross margin as well. Sales Growth: SYS reported a remarkable 55% increase in sales revenue, reaching Rs 32,037.9 million in 2023.  “The Company’s revenue comes primarily from Digital/Data/Cloud Services, Managed Services, Consulting Services, IT outsourcing and Business Process Outsourcing/Contact Center. The Company generates over 80% of its revenue from export of Services to various geographies such as North America, Europe, Asia Pacific and Middle East and less than 20% from domestic market. The Company is well diversified into various business verticals such as Banking and Finance, Telco, Retail, CPG, Pharma, and Public sector.”

SBP held policy rate unchanged at 22% sighting higher inflation. Revised rates of National Saving Schemes have registered some increase. Pakistan to discuss Extended Fund Facility with IMF next month. Pakistan to Tap China for $300 Million Debut Panda Bonds. Gold at historic highs as Fed remain committed to 3 rate cuts this year. The Bank of Japan has ended eight years of negative interest rates, representing the country's first interest rate increase in nearly two decades. Bank of England holds interest rate at 16-year high. Bitcoin had a rough week. Despite reaching a new all-time high of $73,808 on Thursday, March 14th, it ultimately closed the week lower. Currently 64500. WTI around $82 and Brent below $87, remaining at elevated level. Dow Jones just below 40k. US 10 Year Bond at 4.2%. DXY at 104.4 increasing over last week.

  Foreign Portfolio Investment at Pakistan Stock Exchange (12th Week) Foreign corporates remain bullish on Pakistan throughout the week, with net buying totaling over $2.8 million. The pace seems to have increased, especially after the IMF's announcement of having reached a staff-level agreement with Pakistan in the middle of the week. Overseas Pakistanis, however, ended the week with net selling of over $0.8 million. Overseas Pakistanis sold a massive amount of over $1.8 million just a day before the IMF announcement. However, since then, they have been net buyers at the Pakistan Stock Exchange for the rest of the week. See Data