LAHORE: Lahore Stock Exchange under its Corporate Communications Department on Monday led the corporate briefing programme for Muslim Commercial Bank (MCB).
This programme encourages companies to come forward and share their financial and non-financial projects before the members, TREC Holders, investors and the media to bridge communicational gap between the listed companies and the market participants.
The representatives of MCB Bank Limited (MCB), Head of Corporate Communications and Marketing Mubashar Bashir, Company Secretary Abdus Sami and Department Head-Financial Reporting Tax and Investor Relations Hammad Khalid participated in the briefing.
On the occasion, the LSE Managing Director Aftab Ahmad Chaudhry said the purpose of the briefing was to provide a platform to listed companies whereby such companies could periodically visit the stock exchange and share the latest corporate information with the stakeholders such as the brokers and the investors alike.
He said that since the market price of any company was a function of financial and strategic information available in the market, therefore, LSE considered it essential for the companies to participate in such programmes so that there was no information asymmetry regarding the listed companies.
Financial Reporting, Tax and Investor Relations Department's Head Hammad Khalid spoke about financial performance and future plans of the company and said the company was in process to introduce approximately 30 more branches across Pakistan as well as abroad.
He also shared that MCB in the days to come would introduce number of products and services in the market as that was the company's major focus.
The MCB Secretary Abdus Sami told investors that banking industry was improving and had a great potential to bring change in the nature of banking procedures such as the mobile banking that had so far changed the nature of conducting transactions and there was a lot more that was yet to be discovered within this new concept of banking.
The LSE Managing Director said the basic goal of the Corporate Briefing Programme (CBP) was to enhance investor's understanding of financial statements, company's short and long term projects, and to better understand the financial affairs of a company, which might affect company's share price and ultimately impact their investments as well as investment decisions.
The LSE under this initiative would conduct regular programmes for different listed companies, he maintained.
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