The Karachi Stock Exchange (KSE) has announced the names of twenty-five companies, which have been selected by the exchange for the 'Top Companies Awards' 2007.
The companies include:
-- Unilever Pakistan Food Ltd;
-- Siemens (Pakistan) Engineering Companies Ltd;
-- Unilever Pakistan Ltd;
-- Rafhan Maize Products Companies Ltd;
-- Fauji Fertiliser Company Ltd;
-- Pakistan Cables Ltd;
-- Arif Habib Ltd, Al-Ghazi Tractors Ltd;
-- International Industries Ltd;
-- Dawood Hercules Chemicals Ltd;
-- Engro Chemicals Pakistan Ltd;
-- Clariant Pakistan Ltd;
-- Arif Habib Securities Ltd;
-- Lakson Tobacco Company Ltd;
-- Colgate-Palmolive (Pakistan) Ltd;
-- Attock Petroleum Ltd;
-- Pakistan Petroleum Ltd;
-- Ferozsons Laboratories Ltd;
-- EFU Life Assurance Ltd;
-- Security Papers Ltd;
-- Pakistan Tobacco Company Ltd;
-- Oil and Gas Development Company Ltd;
-- MCB Bank Ltd;
-- Indus Motor Company Ltd and
-- Nestle Pakistan Ltd.
The companies have been selected on the basis of the criteria approved by the KSE's Governing Board of Directors which inter alia includes the prerequisites for selection of companies ie the company should not be in violation of Listing Regulations, it's securities are inducted into the Central Depository System of CDC and it has made a minimum payout of 40 percent (including cash divided of at least 15 percent).
The companies qualifying the above prerequisites were finally selected for the 'Top Companies Awards' on the basis of highest score obtained in relation to return on equity 35 percent, distribution 30 percent, free-float of shares 5 percent, turnover of shares 5 percent, corporate social contribution/monetary donation 5 percent and remaining 20 percent on good corporate governance.
It may be pointed out that the KSE has been selecting the Top Companies on the basis of the criteria being improved from time to time since 1978. The criteria for selection of the companies was also placed on the website of the exchange.