Kamran Mirza re-elected KSE chairman

KARACHI: Kamran Y Mirza has been re-elected chairman of Karachi Stock Exchange (KSE) for the second term.

According to KSE sources, he was elected at the first meeting of the KSE board of directors held here on Friday.

Earlier, five elected directors from 200 members of the exchange and four non-member directors, nominated by the Securities and Exchange Commission of Pakistan (SECP), assumed their offices on Friday and elected the new chairman in the meeting.

It may be noted that KSE is run by a board of directors, consisting of 10 members including the managing director. The nominated directors are appointed by the SECP from the professionals belonging to various trades and professions.

The chairman is elected by the board from the non-member directors. Followings are the names of KSE directors: Adnan Afridi Managing Director, Kamran Y Mirza Director, Osman Asghar Khan Director, Khalid Ahmed Sherwani Director, Dr Farid, Munir M Ladha Director, Muhammad Yasin Lakhani Director, Zafar S Moti Director, Asad Iqbal Director and Haji Ghani Haji Usman Director.

Comments

Misleading Opinions Inducing General Public for Stock Trading

The Securities and Exchange Commission of Pakistan (SECP) has observed that some capital market individuals are using the print/electronic/social media for giving their views/ opinions to induce the general public to trade on the stock exchange. These persons are neither qualified nor possess the requisite expertise/skill to furnish such opinions. As these views are not supported by any research and data, it encourages rumors that affect the overall investment sentiments. Misleading views of few individuals tantamount to inducing public, based on deceptive information, for investing in securities. Any such said activity by any person is prohibited in terms of Securities Act, 2015, the framework governing stock market trading. While SECP encourages conducive regulatory environment for sustainable growth of capital markets, it is also responsible to maintain integrity and efficiency of the stock market. SECP is closely monitoring the market activities on regular b...

THK Associates (Private) Limited: Shares Registrar

THK Associates (Pvt) Limited was formed in 1989. The company is engaged in providing specialized services relating to the corporate sector and in particular acts as share transfer agent for a number of companies. THK Associates (Pvt) Limited is one of the leading service provider of Share Registrar, Transfer Agent, Balloters for IPO’s and Share Accounting Services and is managed and run by a set of professionals having indepth knowledge and expertise of organizing and managing diversified corporate activities including depository related Share Registrar activities. THK Associates (Pvt) Limited, previously an associate of KPMG Taseer Hadi & Co., has been restructured in terms of requirements of Clause XL of the Code of Corporate Governance and the shareholding of THK partners has been divested in the year 2004. Mr. Yunus Dawood, Chief Executive of DYL Motorcycle Limited, a shareholder and Director was appointed as Chairman of the Company in 2008. Mr. Javed Iqbal, former Chairman an...

SECP initiates 86 show-cause proceedings against compamies

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 agre...

Search This Blog