FFCL leads PSX’s Top 25 Companies Award 2019

KARACHI: Fauji Fertlizer Company Limited led the Pakistan Stocks Exchange’s Top 25 Companies Awards 2019, followed by Pakistan Oil Fields, and Nestle Pakistan, a statement said on Monday.

As per tradition, the criteria for selecting such companies was also updated and upgraded in 2019 in line with the evolving business environment and requirements, the PSX said.

For the said year, the pre-requisites included a minimum distribution of 30 percent (including at least 15 percent cash dividend), shares traded 50 percent of the total trading days during the year, and that the company is not in the Defaulters’ Segment of the Exchange or trading in its shares have not been suspended on account of violation of Listing Companies & Securities Regulations of the Exchange during the said year.

The Top 25 Companies Award is a tradition at PSX, which goes back to 1978. Historically, the best performing listed companies in Pakistan are awarded this distinction.

Broadly speaking, companies which have outperformed others in the spheres of corporate governance, financial performance, and have added to shareholder value based on specific quantitative criteria, amongst other factors, make it to the Top 25 Companies List.

“This award takes into account the excellent performance metrics of such companies and recognises the able guidance of their boards and strong management. By awarding and recognising such role models, PSX seeks to promote more such listed companies to come to the fore and make their rightful claim on the award by virtue of their excellent performance and contribution to Pakistan’s economy,” it said in the statement.

In his message the MD & CEO of Pakistan Stock Exchange, Farrukh H Khan, said, “Top 25 Companies Award is the most prestigious recognition of overall corporate performance in Pakistan”.

“I would like to congratulate all the companies that have achieved this distinction for 2019. They are leaders and role models for other corporates to emulate. These companies have created tremendous shareholder value, contributed significantly to Pakistan’s economy and have

projected a positive image of Pakistan globally.”

The companies that made it to the Top 25 Companies Awards list in 2019, in order

of their performance ranking, are Fauji Fertilizer Company (FFCL), Pakistan Oilfields, Nestle Pakistan, Bata Pakistan, Lucky Cement, International Industries, Habib Bank, MCB Bank, Archroma Pakistan, International Steels, Engro Fertilizers, Millat Tractors, Security Papers, Agriautos Industries, Bank AL Habib, Engro Corporation, United Bank, EFU General Insurance, Colgate-Palmolive (Pakistan), ZIL Limited, Mari Petroleum Company, AGP, Attock Petroleum Limited, Gadoon Textile Mills, and Dawood Hercules Corporation Limited.