The Honorable High Court of Sindh has sanctioned the Scheme of Arrangement for merger/ Amalgamation of Habib Metro Modaraba (HMM) with and into First Habib Modaraba (FHM) along with swap ratio on February 07, 2023.
The Joint Evaluation Committee of the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMA Pakistan) has awarded Merit Certificate“ Best Corporate and Sustainability Report (BCSR) 2021 Awards” under the category of NBFIs and Modaraba in their ceremony held at Karachi on 27th September, 2022
Notice is hereby given that the Annual Review Meeting of certificate-holders of First Habib Modaraba will be held on October 25, 2022 at 03.00 p.m. at Institute of Cost and Management Accountants of Pakistan (ICMAP) Building, ST-18/C Block-6, Gulshan-e-Iqbal, Karachi, to review the performance of the Modaraba for the year ended June 30, 2022.
Board of Directors in their meeting held on September 6, 2022, announced the cash dividend of 20 percent i.e. Rs.1 per certificate of Rs.5/-. The financial performance of the Modaraba remained satisfactory in 2021-22
According to press release dated September 23, 2022, Pakistan Credit Rating Agency Limited “PACRA” maintained rating scale of Frist Habib Modaraba (FHM) as AA+ for long-term and A1+ for short term for the year ended June 30, 2022. These ratings reflect First Habib Modaraba’s strong business profile emanating from healthy asset base, sound asset quality and sustained profitability. FHM documented robust performance for FY 2021-22 which was one of ther best years in the operational histroy of FHM in terms of profitibilty and over all busniess growth.These ratings denote a very low expectation of credit risk and Indicate very strong capacity for timely payment of financial commitments