⚡ Flash Summary

Saudi Pak Consultancy Company Limited (SPCL), formerly Saudi Pak Leasing Co. Ltd., has released a progress report for the period of July 1st, 2024 to September 30th, 2025. The company’s primary focus has been on recovering non-performing loans and leases, and settling liabilities through cash generation from recoveries, following the withdrawal of the liquidation notice by SECP. During this period, SPCL has been actively pursuing recovery suits and settlements through legal and out-of-court avenues. The Board of Directors (BOD) and management are optimistic about reducing negative equity through the settlement of outstanding liabilities and venturing into consultancy services.

📌 Key Takeaways

• 🔄 SPCL shifted its business from leasing to consultancy after SECP’s withdrawal of the liquidation notice.
• 🗓️ Report covers the period from July 1st, 2024 to September 30th, 2025.
• 💼 Focus shifted to recovering non-performing loans & lease and settling liabilities.
• 💰 Total recoveries for the period amounted to Rs. 59.491 million.
• 🧾 Total settlements of TFC’s & other Liabilities reached Rs. 149.665 million.
• 🚧 Settlements in Progress stand at Rs. 355.197 million.
• ⚖️ Management actively pursues recovery cases through legal and out-of-court settlements.
• 🤝 Board elections were held on 22.04.2025, meeting corporate governance requirements.
• 🏢 BOD is now fully functional and active, exploring new business opportunities.
• 🌍 Exploring consultancy service opportunities in local and foreign (CEPEC) companies.
• 📉 Management is confident about reducing negative equity in the current financial year.
• 🏦 SPCL inherited assets & liabilities from Saudi Pak Leasing Company Limited (SPLC).

🎯 Investment Thesis

A HOLD recommendation is appropriate at this stage. While the company is making progress in recovering assets and settling liabilities, the transition to a consultancy business is still in its early stages. A more definitive BUY or SELL recommendation would require further evidence of successful consultancy operations and sustainable profitability. The price target would be highly speculative at this point, with a medium-term horizon to reassess the company’s performance.