External broker reports(aggregated public sources), Topline Securities

Topline Securities

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.

External broker reports(aggregated public sources)

Thematic (Sector/Industry)

Pakistan Electric utilities / Thematic (Sector/Industry)

Pakistan International Bulk Terminal (PIBTL PA)

<ul><li>Topline Securities organized the Pakistan Mid Cap Conference 2024. The conference started with a session on K-Electric (KEL), where the key speakers of the session was Mr. Muhammad Aamir Ghaziani, CFO of KEL.</li><li>Separate Tariff for each business line: Keeping in view learnings from previous Multi Year Tariff (MYT), KE has filed separate tariffs for each business i.e. Generation, Transmission, Distribution &amp; Supply. Within this, company has requested NEPRA to set tariff comparable to other IPPs in generation i.e. USD 15% ROE on regulatory asset base of generation business. Similarly, for transmission, there will also be a separate dollar indexed ROE.</li><li>The management also highlighted that the new tariff will be different from the previous one, as it will be consistent with other power sector entities' indexation mechanisms for variations in KIBOR, LIBOR, SOFR, exchange rate, and adjustment mechanisms for the actualization of sent-out units.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Topline Securities organized the Pakistan Mid Cap Conference 2024. The conference started with a session on K-Electric (KEL), where the key speakers of the session was Mr. Muhammad Aamir Ghaziani, CFO of KEL.Separate Tariff for each business line: Keeping in view learnings from previous Multi Year Tariff (MYT), KE has filed separate tariffs for each business i.e. Generation, Transmission, Distribution &amp; Supply. Within this, company has requested NEPRA to set tariff comparable to other IPPs in generation i.e. USD 15% ROE on regulatory asset base of generation business. Similarly, for transmission, there will also be a separate dollar indexed ROE.The management also highlighted that the new tariff will be different from the previous one, as it will be consistent with other power sector entities' indexation mechanisms for variations in KIBOR, LIBOR, SOFR, exchange rate, and adjustment mechanisms for the actualization of sent-out units.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Topline Pakistan Mid Cap Call Conference 2024 – Day 1; KEL & PIBTL Key Takeaways