LAHORE: Lahore Stock Exchange Managing Director Aftab Ahmad Chaudhry said that listed companies should establish investor relations department to meet the information needs of investors.
He was speaking at the Corporate Briefing Program of Descon Chemicals Limited and Descon Oxychem Limited, which was organised to brief the LSE members, investors, analysts, and media representatives about the company’s financial health. The presentation by the Descon Group was the seventh program of this series that has received a lot of praise from the investment fraternity since its launch. Representatives of Engro Corporation, Nishat Group, Arif Habib Corporation, Treet Corporation and Bank Alfalah have already organised their briefings under this program.
Aftab Ahmed said that more information sharing translates good liquidity in stock of the company. He mentioned that the results of Corporate Briefing Programs were far reaching and LSE platform was available for listed companies to share their performance, managerial efficiency and future plans with existing and potential investors.
Earlier, The CEO of Descon Chemicals Limited Taimur Saeed answering to a question in the Corporate Briefing Program at LSE stated that the Company is facing the challenges proactively and with the support of Descon Group, the Company has turned around even in difficult times. He presented a detail overview of the companies operations and also shared future expansion plans.
He said that the Descon Oxychem Limited (DOL) started commercial productions in December 2008 and in a short period of about 3 years; the company is operating at 101 percent capacity. Main business scope of the company is Hydrogen Peroxide (H2O2) manufacturing and marketing to meet the ever increasing demand in Pakistan. DOL is using the European plant with best technology in the world with a capacity of 30,000 MTPY Hydrogen Peroxide.
Saeed said that the product of DOL is locally utilized in three segments i.e. 83 percent of total demand in bleaching, 4 percent in disinfection and 13 percent used in mining applications.
The company has major imports i.e. 74 percent from Korea and Thailand and so far the company has existence in 8 countries through exports including Sri Lanka, UAE, India, Iran, Saudi Arabia, Vietnam, Thailand and Bangladesh. DOL has 4-point future plan and aim at retaining local market, reduce imports, increase bulk sales (local exports) and create new markets.
For brand development the Company is making dedicated efforts and engaged in activities like online order taking tracking, dedicated customer care center operational – local internal orders, product brand name, tanker branding – color, storage tanks at customer end – colour branding and re-commission shop at Akbari Mandi – Circular Road.