Quantum Data Technologies settles bank liabilities, frees Rs2 billion industrial assets from debt

Quantum Data Technologies Limited, formerly Chakwal Spinning Mills Limited, has informed the Pakistan Stock Exchange (PSX) of significant progress in its financial restructuring, including the full settlement of its liability with The Bank of Punjab and an agreement to settle its outstanding dues with Habib Metropolitan Bank Limited.

In a notice to the PSX dated July 24, 2026, the company said it had settled its entire outstanding liability with The Bank of Punjab in full, and the bank has issued a No Liability Certificate (NLC) confirming that no amount remains payable.

The company has also entered into a mutually agreed full and final settlement with Habib Metropolitan Bank Limited, under which its outstanding liability will be settled for Rs360 million. The company said this represents a significant concession against the bank's substantially higher recoverable amount. 

Under the agreement, the amount will be paid in three installments due on July 28, 2026, August 28, 2026, and September 30, 2026. The liability will stand fully settled upon timely payment of these installments.

Quantum Data Technologies said both settlements were negotiated on favourable commercial terms, and the resulting concessions and waivers are expected to generate aggregate savings of more than Rs300 million for the company.

The notice added that upon completion of the remaining settlement obligations, the company's principal industrial asset — located at Dhilwan Road, off 49-KM, Multan Road, Tehsil Pattoki, District Kasur, comprising 132 Kanal and 10 Marla of industrial land with a covered area of approximately 298,440 square feet — is expected to become free from all banking charges and encumbrances.

Management estimates the current market value of these assets at over Rs2 billion. The company said the release of these assets from banking encumbrances is expected to strengthen its balance sheet, enhance its net asset value, and provide greater financial flexibility for future expansion and strategic investment.

The company termed the resolution of these long-standing banking obligations a major milestone in its corporate turnaround, saying it would leave the company substantially free from legacy banking liabilities while releasing one of its most significant industrial assets from encumbrance. This, it said, would support its long-term strategy in technology, digital infrastructure, data centres, and related high-growth businesses.