Orient Rental Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Karachi on February 26, 2020.

The agenda of the meeting was discussion of profit and loss account for quarter ended December 31, 2019 which portrayed a profit of Rs. 5,120,929 with earnings per share 0.07 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

The announcement is available at:

https://dps.psx.com.pk/download/document/143559.pdf

The Orient Rental Modaraba is a multi-purpose and perpetual Modaraba.

The Modaraba is engaged in providing equipment rental solutions, operation and maintenance services. The modus operandi includes ownership and renting out of equipment and provision of operation and maintenance services. The renting of equipment is on Ijara mode for tenor ranging from one hour to days, weeks, months and year(s).

The equipment for rental includes fleet of Power Generation Equipment, Commercial Vehicle, Material Handling Equipment and Construction Machinery. The rental solution shall be provided locally as well as internationally.

In addition, the Modaraba is also engaged in providing Operation & Maintenance (O&M) services to customers who own the equipment and require O&M service providers for maintenance. The tenor of services varies from client to client

© Pakistan Press International, source Asianet-Pakistan