KARACHI: Pak Suzuki Motors Company has posted a profit after tax of Rs 624 million for the year 2008 and declared a final cash dividend of Re 1 per share. According to the financial results dispatched to Karachi Stock Exchange here Wednesday, pre-tax profits of the company fell to Rs 992 million during the year ending December 31, 2008 as compared to Rs 4.281 billion in 2007. The earning per share in 2008 also declined to Rs 7.59 as compared with Rs 33.71 in the last year.
The SECP’s Enforcement Department— while enforcing compliance of corporate and allied laws— initiated 86 show-cause proceedings and concluded 54 proceedings against chief executives, directors and auditors of companies in February and March. While facilitating companies to strengthen their capital base, the department allowed three listed companies to issue shares by way of otherwise than right at a discount and at par. In order to strengthen the existing regime of Corporate Social Responsibility (CSR) reporting, the SECP has joined hands with the ICAP for the external assurances of the CSR reports. CSR reports assist organizations in understanding and communicating their vision of combining a company’s profitability with social responsibility and environmental care. Both the SECP and the ICAP have reaffirmed their commitment to developing a framework for external assurance in accordance with prominent international assurance standards, and within a mutually agreed time f
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