ISLAMABAD: The Pakistan Stock Exchange (PSX) held a gong ceremony on Monday to honour the achievements of three listed companies based in Pakistan that were recognized in the Forbes ‘Asia’s Best Under A Billion’ list.
“The companies that made it to the Forbes’ distinctive list included Feroze1888 Mills Limited (FML), The Searle Company Limited (SEARL) and Systems Limited (SYS),” a PSX statement read. “FML CEO Rehan Rehman, SEARL CEO Syed Nadeem Ahmed and SYS CEO Asif Peer struck the gong to mark the start of the trading day.”
Also present on the occasion were PSX MD & CEO Farrukh H. Khan, PSX Board Chairman Sulaiman S. Mehdi, senior officials of the exchange as well as the top management of the three companies recognized by Forbes.
The Forbes ‘Asia’s Best Under A Billion’ list comprised of top 200 listed companies in Asia-Pacific region with sales under $1 billion that have excelled in corporate performance.
These companies were selected based on quantitative and qualitative metrics and included 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 selection criteria for the top 200 best performing companies also included geographic diversity of companies from across the region.
Speaking on the occasion, Farrukh Khan said that it was matter of pride that 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.
FML CEO Rehan Rehman said that the award truly reflected the sheer dedication of all employees, support of all business partners and trust of shareholders that they had put in the company.
Expressing pleasure over the inclusion of his company in Forbes’ distinctive list, SEARL CEO Syed Nadeem Ahmed said that the company’s phenomenal growth and achievements in last 10 years were result of intense transformation during which it met and exceeded the expectations of stakeholders.
Meanwhile, SYS CEO Asif Peer termed the Forbes’ listing “great news for the company as well as Pakistan”, saying this global recognition had not only enhanced the company’s brand image but also the country’s economic perspective.