Lahore: Daewoo Pakistan Express Bus Service Limited, a major intercity transport and logistics operator, is set to issue a PKR 4 billion sukuk, marking a strategic financial move to support its expanding operations. The company, which manages over 400 buses, 200 cargo trucks, and more than 200 delivery centers, has diversified its revenue streams to include waste management and public sector mass transit projects.
According to The Pakistan Credit Rating Agency Limited, Daewoo Pakistan's recent ventures into the waste management sector under the "Suthra Punjab Initiative" and its involvement in regulated mass transit projects have contributed to a significant market share of 70%. The company's diversified revenue base has shown notable growth, with a reported increase of approximately 79% in recent years. The new sukuk, secured by a ranking charge over current assets, aims to meet Daewoo's short-term working capital needs, particularly in the waste management sector. The company's financial health and adherence to repayment discipline remain crucial for maintaining positive ratings.
The post Daewoo Pakistan to Launch PKR 4 Billion Sukuk for Growth Initiatives appeared first on Pakistan Business News.