Jahangir Siddiqui & Co Limited, a notable financial conglomerate, is supplying Rs 4 billion to the telecommunication, technology and media sectors in Pakistan.
The investment has been made in the subsidiary JS Infocom which targets the business and operations of the group in these three areas in Pakistan and overseas.
According to the official publication to shareholders, the board of directors of the company has approved a long-term investment in its wholly owned subsidiary JS Infocom Limited in telecommunication, technology and media sectors.
The investment will be made through different methods and channels such as raising Term Finance Certificates (TFC) of worth Rs 2 billion; equity investment of up to Rs 1.5 billion by subscription of right shares that will be offered by JS Infocom; and borrowing of Rs 500 million from banks.
JS Infocom Limited (JS Infocom) was integrated on August 25, 2003 as a public limited unlisted company under the Companies Ordinance 1984.
It is currently looking for business endeavors in the telecommunication sector, which is facing a quick deviation of growth and progress with the progressive development of new technologies.
Telecom companies are very appealing for local investors who often bring investment from their main offices and fulfill their capital expenditure through government loans.
Correspondingly, large and medium sized IT organizations and even startups having local and foreign clientele are worthwhile investment avenues for local investors like JS Group. It is motivating for local IT companies to work with such massive financial groups on a variety of projects to serve worldwide markets.
The broadening macro-economic corridors combined with the approaching enormous business project of China Pakistan Economic Corridor (CPEC) are expected to create a large number of opportunities for local IT organizations in local market.
Even though the investment in media is unsafe, it is a critical decision for every business group. JS Group's previous investments in media will likely result in the development of unique partnership models in media industry.
Jahangir Siddiqui & Co Limited is one of the biggest business conglomerates in Pakistan and owns JS Bank, JS Investment and Energy Infrastructure Holding (Private) Limited.