Lahore November 4 2021: Board of Directors of Waves Singer Pakistan Limited is holding a meeting to discuss factory relocation and real estate development plans of the company along with other corporate matters, as per information shared by the company.
Meeting of the Board of Directors of Waves Singer Pakistan Limited on this matter will be held on 11 November 2021 at Lahore Waves Factory Office.
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Appliances Manufacturing Plant is planned to move to a new purpose‐built larger factory for which land has already been purchased and construction is already underway. Construction & relocation of the factory is expected to be completed during FY 2022 in phases.
Moreover, an international firm was hired to figure out the best use for the current premises and they have recommended to develop a real estate apartment project keeping in mind the prime location and the government’s support for construction activity. Masters Plans for the same have been developed from 2 leading architectural firms. Accordingly, Lead Architect, Structure Consultant and MEP Consultant have also been hired to fast‐track the project.
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As the future prospects of the company are inextricably linked to the overall development of the country, the Company will continue to focus on exploiting all the opportunities available in the market. The Company promises to all its stakeholders that the Company is fully committed to creating value
The Company has declared the "Closed Period" from 05 November 2021 to 11 November 2021. Accordingly, no Director, CEO or Executive shall, directly / indirectly, deal in the shares of the Company in any manner during the Closed Period.
Waves Singer Pakistan Ltd, formerly Singer Pakistan Limited, is a retailer of home appliances. The Company is engaged in retailing and trading of domestic consumer appliances and other light engineering products, besides manufacturing and assembling of the same.
The Company offers products in various categories, including audio and video products, including television, liquid-crystal-display and audio; Gas appliances, including Singer cooking range and Singer water heater; washing machines, which include Singer washing machines; motorcycle; sewing and knitting, including Singer sewing machines, industrial products and knitting machines; generators; microwave ovens, including Singer microwave ovens; digital products; furniture; small appliances, including Singer food processor, Gaba National food processor, Singer electric kettle and Singer electric iron, and water purifier. It operates over 750 stores and offers loyalty program for hire purchase and cash customers.