Indus Motors BOD extends tenure of chairman Ali Habib for three years

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KARACHI: A bourse notification sent by Indus Motor Company on Wednesday revealed its newly appointed Board of Directors have approved the extension of Mr. Ali S. Habib as Chairman of the company on 31st October for a period of three years.

And IMC appointed Mr. Toshiya Azuma, Vice Chairman; and Mr. Ali Asghar Jamali, Chief Executive respectively, read the notification. Habib is also the founding director of IMC and serves on the BOD of Habib Metropolitan Bank Limited, Metro Habib Cash and Carry Pakistan (Pvt.) Limited.

Indus Motor Company Limited manufactures and markets Toyota brand vehicles in Pakistan. The company offers passenger cars, light commercial vehicles, and sports utility vehicles primarily under the Corolla, Hilux, Fortuner, Land Cruiser Prado, Hiace, Camry, Avanza, Coaster, and Prius brand names.

It also assembles, manufactures, and markets Daihatsu brand vehicles. In addition, the company provides parts, lubricants, and chemicals, as well as after-sales services. It operates a network of 45 independent sales, service, and spare parts dealerships. Indus Motor Company Limited was founded in 1989 and is based in Karachi, Pakistan.

At the time of filing this report, IMC shares were trading at Rs1710.00, up Rs9.11 from its opening on Wednesday. The KSE-100 index was trading at 40,126.81 points, up 509.62 points from its close on Tuesday.