Treasure Magazine

Treasure Magazine

PSX celebrates ‘Gong Ceremony’ to recognise three listed companies

2 min read
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The gong was struck by Rehan Rehman – CEO of Feroze1888 Mills Limited, Syed Nadeem Ahmed – CEO of The Searle Company Limited and Asif Peer – CEO of Systems Limited

KARACHI: Pakistan Stock Exchange Monday held a Gong Ceremony to recognise the tremendous achievement of three listed companies based in Pakistan who have been recognised in the Forbes ‘Asia’s Best Under A Billion’ list.

The companies who have made it to this distinctive list are Feroze1888 Mills Limited, The Searle Company Limited and Systems Limited.

To mark the opening of the trading day, the gong was struck by Rehan Rehman – CEO of Feroze1888 Mills Limited, Syed Nadeem Ahmed – CEO of The Searle Company Limited and Asif Peer – CEO of Systems Limited.

Also present at the occasion were Farrukh H. Khan – MD & CEO of PSX, Sulaiman S. Mehdi – Chairman of the Board of PSX, Board Members of PSX, senior management of PSX as well as senior management of the three companies recognised by Forbes.

It is a matter of immense pride for Pakistan that these companies have made it to the select list of the top 200 companies of Asia Pacific region as recognised by Forbes. The Gong Ceremony held at Pakistan Stock Exchange was convened specially to mark honour and celebrate this distinguished achievement on part of the three listed companies.

The Forbes ‘Asia’s Best Under A Billion’ list comprises of the top 200 listed companies in Asia-Pacific region with sales under $1 billion that have excelled in corporate performance.

These companies are selected based on quantitative and qualitative metrics and include measures such as debt, sales, and earnings growth over both the most recent fiscal one- and three-year periods as well as the strongest one- and five-year average returns on equity.

The criteria for selecting the top 200 best performing companies also included geographic diversity of companies from across the region.

The Gong Ceremony started off with opening remarks by the CEO of PSX, Farrukh Khan. This was followed by the gong striking by the CEOs of the three companies who, subsequently, addressed the gathering at the occasion. Mementos were also distributed to the individual CEOs signifying their company’s historic achievement. 

Speaking at the occasion, Farrukh Khan said, “we are rightly proud of these companies and very happy that their outstanding performance is being recognized today. These three companies have not only created tremendous shareholder value but have also contributed significantly to the economy of the country, while projecting a positive image of Pakistan globally”.