ISLAMABAD: Finance Minister Ishaq Dar chaired a briefing session arranged by managing director Pak-Brunei Investment Company. The current investment and future plans were discussed in the meeting.
Pak-Brunei Investment Company is an investment finance company established as a joint venture between the government of Pakistan and Brunei Investment Agency (BIA) that commenced operations in August 2007, said a press release.
The company has active platforms for project and lease Finance, Corporate Finance & Advisory Services, SME Finance, Private Equity, Trust Services, Capital Market Operations, and Fixed Income Trading and Distribution activities. Managing Director Ayesha Aziz informed the Minister that the company started operations almost 8 years ago with a capital of Rs 3 billion.
The company has a current equity of Rs 9 billion. In October 2014, the company’s first SME branch was inaugurated in Lahore. Pak Brunei established an independent small and medium enterprise (SME) division in 2012 that provides leasing services, a viable and affordable alternative to traditional loans in the SME sector.
Responding to query by the Finance Minister on the company’s future programmes, the MD said that Pak-Brunei plans to increase its small and medium enterprise footprint across various regions of the country.
She said that the company was in final stages of launching a Modarba fund as its special future venture. The First Fund based on PE model will be established by March 2015. Pak-Brunei also has plans for establishment of specialised vehicles for warehousing/collateral management.
The Finance Minister appreciated the company’s 100% recovery ratios particularly in SME financing and handling projects facing financial distress. He hoped Pak-Brunei would continue to expand its financing and investment programmes in Pakistan.
