Waves Singer appoints new executives, moves into real estate

KARACHI: Pakistan’s home appliances manufacturer Waves Singer Pakistan Limited (Waves) filed intimation to the Pakistan Stock Exchange (PSX) on August 13, informing of the company’s entry into the real estate sector.

Waves has also appointed new Chairman Adnan Afaq and new Chief Executive Officer Haroon Ahmed Khan, the notification informed.

The company seeks the approval of the Securities and Exchange Commission of Pakistan (SECP) in amending the object clause of the memorandum of association (MOA) to add the development of Affordable Housing projects and real estate development. In this regard, the authorized share capital of the company has also been increased from Rs2 billion to Rs3bn.

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