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HomeBusinessTREET CORPORATION ANNOUNCES MAJOR INVESTMENTS: NEW UAE SUBSIDIARY AND PKR 1.5 BILLION...

TREET CORPORATION ANNOUNCES MAJOR INVESTMENTS: NEW UAE SUBSIDIARY AND PKR 1.5 BILLION CORPORATE GUARANTEE FOR LOADS LIMITED

Treet Corporation ke Board ne ek nayi subsidiary, Treet Trading LLC, banane ka faisla kiya hai jo Dubai Economic Development Zone (DED), Mainland, UAE mein hogi. Yeh subsidiary 27 February, 2024 ko approve hui thi aur incorporation ke tamam legal procedures continue hain. Jald hi yeh subsidiary register ho jayegi aur sab ko update kar diya jayega. 

Pehle phase mein USD 100,000 ka capital inject kia jayega aur 100,000 shares USD 1 per share ke hisaab se issue honge. Board ne shareholders se iski approval maang li hai.

Iske ilawa, Treet Corporation ne Loads Limited, jo ek associated company hai, ke liye ek cross-corporate guarantee dene ka bhi faisla kiya hai. Yeh guarantee PKR 1,500,000,000 (pandra sau million rupees) tak hogi jo working capital facilities ko support karegi jo DFIs, Fls, aur Banks se li jayengi. Yeh recommendation bhi shareholders ki approval ke liye forward kar di gayi hai.

Treet Corporation ka yeh faisla company ke growth aur stability ko mazid farogh dega.

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