PSX marks Searle, Systems, Feroz1888’s Forbes moment

KARACHI: Pakistan Stock Exchange (PSX) on Monday held a Gong Ceremony to recognise the tremendous achievement of the three Pakistan-based listed companies that have been recognised in the Forbes ‘Asia’s Best Under A Billion’ list.

Feroze1888 Mills Limited, Searle Company Limited, and Systems Limited have made it to the distinctive list published recently by Forbes magazine.

To mark the opening of the trading day, the gong was struck by Rehan Rehman, CEO of Feroze1888 Mills Limited, Syed Nadeem Ahmed, CEO of The Searle Company, and Asif Peer, CEO of Systems Limited.

Farrukh H Khan, MD & CEO PSX, Sulaiman S Mehdi, Chairman Board of PSX, Board Members, senior management of the bourse as well as of these three companies recognised by Forbes. The Forbes ‘Asia’s Best Under A Billion’ list comprises of the top 200 listed companies in Asia-Pacific region with sales under $1 billion that have excelled in corporate performance.

These companies are selected based on quantitative and qualitative metrics and include 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 criteria for selecting the top 200 best performing companies also included geographic diversity of companies from across the region. Speaking at the occasion, Farrukh Khan, CEO PSX, said, “We are rightly proud of these companies and very happy that their outstanding performance is being recognised today”. Khan said these three companies

had not only created tremendous shareholder value but also contributed significantly to

the economy of the country, while projecting a positive image of Pakistan globally.

Rehan Rehman, CEO of Feroze1888 Mills, stated, “Alhumdulillah, it is indeed a moment ofimense pleasure that Feroze1888 Mills Limited has been selected in the Forbes Asia 200 Best Under A Billion Companies list”.

“The award truly reflects the sheer dedication of all the employees, support of all the business partners and trust of our shareholders that they have put in the Company,” Rehman said. Syed Nadeem Ahmed, CEO of Searle Company Limited, said, “I am pleased to announce that The Searle Company Limited (Searle) has been included in the list of Forbes Asia Best Under a Billion Company”.

“This historic and landmark achievement reflects Searle’s firm commitment to provide its customers with the best possible products and services in the health care and consumer industry.”

CEO of Systems Limited, Asif Peer, said, “This is great news for Systems team and entire Pakistan”. “This global recognition enhances our brand image and perspective that reflects not only on our businesses but also on economy as a whole. I would like to share this achievement with my team, partners and stakeholders,” he added.