SHAFIQ TEXTILE MILLS LIMITED

SHAFIQ TEXTILE MILLS LIMITED

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Company Overview
The company is a publicly quoted firm that is active in the textile industry. Its core business is the preparation, spinning, and distribution of textile fibres. The firm was incorporated in 1963 and has its registered corporate head office in Karachi, Pakistan.
The company undertakes the following activities: spinning yarn; manufacturing thread of any fiber; texturizing, throwing, twisting, and winding purchased yarn or manmade fiber filaments; and producing hemp yarn and further processing into rope or bags. The company principally conducts its business operations within the country.
The company is listed on the Karachi Stock Exchange under the ticker symbol SFQT.
Business Summary
The principal business of the Company is manufacturing and sale of yarn, but now the company is engaged in letting out immoveable properties of the company.
A special resolution was passed in the general meeting of the members on 30th June, 1999 authorizing the Board of Directors and also in terms of Sindh High Court’s Order dated 4th November, 1999 to dispose off the plant & Machinery of the Company. Although the Company has ceased the production activities since August 1998 as the plant & Machinery were very old and will not be viable, therefore the same has been disposed off. However the Company is still carrying on the other activities earning rental income.
Description and history
The principal business of the Company is manufacturing and sale of yarn, but now the company is engaged in letting out immoveable properties of the company.
The Company is Limited by shares incorporated in Pakistan on 18th March, 1963, and is quoted on Lahore Stock Exchange. The Mills are located at Federal ‘B’ Industrial Area, Karachi. The Company is listed on Lahore stock exchange on 1971.

Business Line
Its core business is the preparation, spinning, and distribution of textile fibres
Subsidiary

Advisor
F.R. MERCHANT & CO.
IPO date
6/16/1964
US SIC Code
2281
Company Address
Lalazar
58-A, Moulvi Tamizuddin Khan Road
City province or state postal code
KARACHI
Phone: +92 21 5611704
Fax: +92 21 5610768
Country address: PAKISTAN
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