First Tri Star Modaraba : Corporate Briefing Session

Corporate Briefing Session - 2023

First Tri- Star Modaraba

Managed by:

A.R.T. Modaraba Management (Private) Limited

Profile of Management Company

A.R.T. Modaraba Management (Private) Limited is licensed by the Registrar Modaraba Companies and Modaraba, Securities and Exchange Commission of Pakistan to float and manage multipurpose Modaraba Funds. The Company was incorporated on August 20, 1989. At present, Company's Authorized and Paid-up Capital is PKR 400 million and PKR 212 million respectively. The equity of Modaraba is Rs. 536.051 million as on 30th June, 2023.

Legal Status and Nature of the Business

First Tri-Star Modaraba was formed under the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980 and the Rules framed thereunder and is managed by A.R.T. Modaraba Management (Private) Limited. It is a perpetual, multipurpose and multidimensional Modaraba. The Modaraba is listed on Pakistan Stock Exchange Limited. The registered office of the Modaraba is situated at A/33, Central Commercial Area, Block 7/8, KCHSU, Main Shahrah-e- Faisal, Karachi.

Board Of Directors

Mr. Ahmed Khizer Khan

Non-Executive Chairman / Independent Director

Mr. Asad Ahmad

Chief Executive

Ms. Marium Ahmad

Non-Executive Director

Vision Statement

First Tri-Star Modaraba is committed to strive for excellence in all areas of its activity.

Mission Statement

We view our business objective of providing distinctive financial products and services that promote commerce and industry within the context of our overall objective of contributing to the nation's prosperity.

Core Value

1. Striving for continuous improvement and innovation with commitment and responsibility;
2. Treating stakeholders with respect, courtesy and competence;
3. Practicing highest personal and professional integrity;
4. Maintaining teamwork, trust and support, with open and candid communication;
5. Ensuring cost consciousness in all decisions and operations.

Statement of Ethics and Business Practices

The articulation of this statement is based on following points:

1. Questionable and improper payments or use of the Company's assets.
2. Political contributions.
3. Conflict of interest.
4. Books and records of the Company.
5. Payment of amounts due to customers, agents or distributors.
6. Reporting violations.
7. Means as important as the end.
8. Integrity and scrupulous dealings.
9. Strict observance of the laws of the country.
10. Giving and receiving gifts.

Fields of Operation

During the year ended 30th June, 2023 Modaraba was engaged in following activities:

• Renting out its Building

• Running an Educational Institution

KEY FINANCIAL AND OPERATIONAL DATA AT A GLANCE

							Rs. in million
Items	2023	2022	2021	2020	2019	2018	2017
Financial Position:
Paid-up Capital	211.613	211.613	211.613	211.613	211.613	211.613	211.613
Reserves	324.420	(29.372)	(17.868)	(29.241)	(31.515)	(2.806)	(5.126)
Fixed Assets - WDV	6.874	90.879	94.448	104.874	116.298	126.477	139.264
Investments	462.224	38.838	38.838	40.854	42.760	67.537	70.825
Current Assets	90.299	81.790	80.838	50.858	36.146	21.488	5.492
Current Liabilities	24.658	27.465	17.353	13.371	15.081	11.355	12.538
Income:
Gain / (Loss) on sale of Investments	-	-	-	-	-	-	(0.631)
Dividend Income	12.474	0.016	0.010	0.013	0.017	0.031	0.050
Net Profit / (Loss) for the year	356.419	0.786	13.490	2.274	(20.425)	2.320	2.004
Accumulated Profit / (Loss)	221.760	(61.274)	(49.612)	(60.986)	(63.260)	(34.550)	(36.406)
Statistics & Ratios:
Operating Profit / (Loss) - %	8.45	(0.02)	0.39	0.08	(102.44)	12.89	55.42
Current Ratio	8.31:1	0.03:1	0.34:1	0.08:1	(102.44):1	0.13:1	0.29:1
Paid-up value per Share (Rs.)	10	10	10	10	10	10	10
Earning / (Loss) per Share (Rs.)	16.74	0.04	0.64	0.11	(0.97)	0.11	0.10
Break-up Value per Share (Rs.)	25.33	8.61	9.16	8.62	8.51	9.87	9.76
Net Assets (Rs. in million)	536.051	182.259	193.763	182.389	180.115	208.825	206.505
Net Assets Value per Share (Rs.)	25.33	8.61	9.16	8.62	8.51	9.87	9.76
Cash Dividend (%)	40	-	6	1	-	1	-
Bonus Dividend (%)	-	-	-	-	-	-	-

Our Vision Going Forward

Modaraba continued generating revenue through rental income and income from running aneducational institution which has established itself well within a short time. ITC has been very successful in launching associate degree program in collaboration with Nişantaşı University, Turkey.

Due to above, Modaraba will be more effective, economical and efficient which would strengthen and support the profitability / return to the certificate holders.

Professional Team

Modaraba is managed by highly driven & motivated professionals.

Compliance and Governance

Modaraba adheres to all external rules and internal controls.

QUESTION & ANSWER SESSION