External broker reports(aggregated public sources), Topline Securities

Topline Securities

External broker reports(aggregated public sources)

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>We had a meeting with the senior management of Engro Holding Company (ENGROH), comprising of Mr. Farooq Barkat Ali, CFO of Engro Holdings, and Mr. Usman Hassan, GM Group Portfolio Performance Management.</li><li>The company concluded a US$563mn transaction with VEON Group Pakistan, making it the 16th largest Independent Telecom Company (ITC) globally. The company sees strong growth potential in the independent tower business and may explore future opportunities with the right time and correct partner.</li><li>On the fertilizer segment, management expects current flood situation is not worse than 2022 floods. At present, they do not see demand falling by more than 4–5%.</li></ul>

We had a meeting with the senior management of Engro Holding Company (ENGROH), comprising of Mr. Farooq Barkat Ali, CFO of Engro Holdings, and Mr. Usman Hassan, GM Group Portfolio Performance Management.The company concluded a US$563mn transaction with VEON Group Pakistan, making it the 16th largest Independent Telecom Company (ITC) globally. The company sees strong growth potential in the independent tower business and may explore future opportunities with the right time and correct partner.On the fertilizer segment, management expects current flood situation is not worse than 2022 floods. At present, they do not see demand falling by more than 4–5%.

Engro Holding (ENRGOH) - Management Meeting Takeaways; Strong Growth Potential In Tower Business

Hong Kong

Vongroup Limited, through its subsidiaries, provides catering services through the operation of a chain of Chinese restaurant in Hong Kong. The Company also operates consumer finance business in China.

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Vongroup Ltd (318 HK)

Engro Holding (ENRGOH) - Management Meeting Takeaways; Strong Growth Potential In Tower Business

We had a meeting with the senior management of Engro Holding Company (ENGROH), comprising of Mr. Farooq Barkat Ali, CFO of Engro Holdings, and Mr....

Topline Securities

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