Lahore Real Estate Forum: Property News & Community Talk : ,

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   Cooperative Scandal????

Saturday, October 16, 2010 05:26 AM 

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Can some body shed light on ENGRO RUPIYA CERTIFICATES???

Engro replied on Saturday, October 16, 2010 08:22 AM  http://www.dailytimes.com.pk/default.asp?page=2010%5C10%5C16%5Cstory__pg5_15

MJM Dammam replied on Saturday, October 16, 2010 10:23 AM  It is Term Finance Certificate yielding 14.5% per annum. Subscription period is 15/10/10 to 14/1/11. Its term is for a period of 3 years starting 15/1/11 upto maturity 2014. Minimum investment is Rs. 25,000. It is very risky investment. Do study its pros and cons before venturing for it. For further details please visit their website engrorupiya.com

Jameel replied on Saturday, October 16, 2010 04:09 PM  It is investment grade Company Bonds, carries risk and also return, I think there is not much use if NSC is paying similar rates.

AD replied on Saturday, October 16, 2010 05:11 PM  It's Interest / Ribba / Sood

flex-01 replied on Sunday, October 17, 2010 04:37 AM  It is not a scandal. Engro is a solid company. After NSCs, it is a good investment ,a dn thats the reason, they are offering 2% more than what NSC offers.

engro replied on Sunday, October 17, 2010 07:58 AM  pl note that the 14.5% is subject to i.tax and zakat deduction. engro is one of the most credit worthy companies in pakistan, so low risk. however this is interest, and never advisable.

atiq raja. replied on Sunday, October 17, 2010 01:56 PM  in pak there is no any credit worthy company,better to invest in QUMI BACHAT.

Advisor replied on Sunday, October 17, 2010 06:01 PM  Agreed with atiq raja

Headliner replied on Monday, October 18, 2010 06:22 AM  Engro Rupiyee Certificate is tax exempt with profit payment after Every 6 months in your bank account moreover one can refund the certificate and collect principal amount and accrued profit at any time,In my opinion Risk Factor is High due to High Leverage of the Company and delayed in Operational of newly build Fertilizer Plant

flex-01 replied on Tuesday, October 19, 2010 11:03 AM  Pls note that it is not tax exempt certificates. There is no withholding tax for invesmtents upto 150 k. over that amount, 10% WH tax would be deducted on profit. (the above is my understanding as per info given on the website of the company)

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