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WORKING OF MODARABAS
Presently, 67 modaraba management companies are registered with Registrar
(Modaraba) under the Modaraba Ordinance, 1980 and 47 modarabas are in operation. Of
these, 39 modarabas are based in Karachi while eight are Lahore based. All modarabas
are multi-purpose and are engaged in the following major business activities:-
q Leasing
q Commerce & Trade
q Imports & Exports
q Underwriting
q Venture Capital
q Investment in Stock Market
A statement showing Net Asset Value, Earning Per Share and Dividend Pay-out by Modarabas
during the years 1998 and 1999 is given below:
NAV, EPS & DIVIDEND FOR THE YEARS 1998 AND 1999
| S.No | Name of Modaraba | NAV | EPS | Div | NAV | EPS | NAV | EPS | Div | NAV | EPS |
30.6.98 |
30.6.98 |
30.6.98 |
31.12.98 |
31.12.98 |
30.6.99 |
30.6.99 |
30.6.99 |
31.12.99 |
31.12.99 |
||
| 1 | Al- Noor Modaraba | 10.93 |
0.53 |
5.00 |
11.36 |
0.42 |
10.97 |
0.78 |
7.50 |
11.63 |
0.66 |
| 2 | Al-Zamin leasing Modaraba | 12.49 |
1.19 |
0.00 |
13.15 |
0.65 |
12.10 |
0.88 |
12.50 |
12.85 |
0.75 |
| 3 | Allied Bank Modaraba | 11.71 |
1.89 |
15.00 |
12.30 |
0.59 |
12.12 |
1.66 |
12.50 |
12.28 |
0.13 |
| 4 | B.F. Modaraba | 6.25 |
-0.93 |
0.00 |
6.70 |
0.44 |
6.74 |
0.48 |
0.00 |
7.32 |
0.58 |
| 5 | B.R.R. International Modaraba | 13.30 | 0.96 | 11.00 | 14.30 | 0.86 | 13.72 | 1.38 | 11.00 | 14.66 | 0.93 |
| 6 | Confidence Modaraba 1st | 11.86 | 1.27 | 10.00 | 13.38 | 1.52 | 11.68 | 0.52 | 7.00 | 12.94 | 1.25 |
| 7 | Constellation Modaraba 1st | 10.69 | 0.67 | 5.00 | 10.00 | 0.65 | 10.19 | 0.69 | 5.50 | 10.00 | 0.60 |
| 8 | Crescent Modaraba 1st | 12.42 | -0.01 | 0.00 | 10.87 | 0.35 | 11.28 | 0.64 | 7.50 | 14.23 | 0.53 |
| 9 | Custodian Modaraba 1st | 4.13 | -4.54 | 0.00 | 0.00 | 0.00 | 25.16 | 0.00 | 0.00 | 0.00 | 0.00 |
| 10 | Dadabhoy Modaraba 1st | 10.13 | 0.06 | 0.00 | 10.41 | 0.21 | 10.26 | 0.06 | 0.00 | 10.64 | 0.17 |
| 11 | Elite Capital Modaraba 1st | 7.82 | -0.34 | 0.00 | 8.00 | 0.18 | 7.95 | 0.12 | 0.00 | 8.15 | 0.20 |
| 12 | Equity Modaraba 1st | 11.89 | 0.82 | 0.00 | 12.62 | 0.73 | 12.30 | 1.91 | 15.00 | 13.40 | 1.10 |
| 13 | Financial Link Modaraba | 0.71 | -1.97 | 0.00 | 0.16 | -0.56 | 0.06 | -0.65 | 0.00 | -0.13 | -0.19 |
| 14 | Fidelity Leasing Modaraba Ist | 11.14 | 0.73 | 11.50 | 11.86 | 0.63 | 11.37 | 1.22 | 10.00 | 12.09 | 0.72 |
| 15 | General Leasing Modaraba 1st | 9.19 | -0.53 | 0.00 | 9.09 | -0.11 | 14.50 | -3.06 | 0.00 | 6.17 | 0.04 |
| 16 | Grindlays Modaraba 1st | 15.82 | 2.80 | 22.00 | 17.18 | 1.35 | 16.68 | 3.05 | 22.00 | 18.61 | 1.93 |
| 17 | Guardian Leasing Modaraba | 7.00 | -0.54 | 0.00 | 7.28 | 0.28 | 7.03 | 0.14 | 1.00 | 7.44 | 0.41 |
| 18 | Habib Bank Modaraba 1st | 11.62 | 1.76 | 15.00 | 12.37 | 0.75 | 12.01 | 1.89 | 15.00 | 13.31 | 1.30 |
| 19 | Habib Modaraba 1st | 6.55 | 0.96 | 7.50 | 7.23 | 0.67 | 6.85 | 1.29 | 20.00 | 7.54 | 0.69 |
| 20 | Hajveri Modaraba 1st | 11.36 | 1.25 | 10.00 | 11.78 | 1.03 | 11.78 | 1.72 | 13.00 | 12.90 | 1.11 |
| 21 | IBL Modaraba 1st | 10.04 | 0.09 | 0.00 | 11.72 | 0.68 | 11.14 | 1.09 | 10.00 | 11.79 | 0.65 |
| 22 | Ibrahim Modaraba 1st | 11.38 | 1.19 | 10.00 | 12.41 | 0.94 | 11.97 | 1.80 | 13.00 | 12.94 | 0.97 |
| 23 | Imrooz Modaraba 1st | 16.90 | 6.66 | 50.00 | 18.94 | 2.04 | 17.15 | 1.99 | 17.50 | 19.42 | 2.28 |
| 24 | Industrial Capital Modaraba 1st | 8.50 | 0.54 | 0.00 | 9.00 | 0.50 | 8.70 | 0.20 | 0.00 | 8.70 | -0.00 |
| 25 | Interfund Modaraba 1st | 7.01 | -1.43 | 0.00 | 7.24 | 0.41 | 10.00 | 0.00 | 0.00 | 5.06 | -0.12 |
| 26 | Islamic Modaraba 1st | 10.75 | 0.11 | 0.00 | 10.97 | 0.21 | 10.02 | -0.74 | 0.00 | 10.37 | 0.35 |
| 27 | LTV Capital Modaraba | 8.25 | -0.61 | 0.00 | 6.04 | 0.37 | 5.00 | 0.00 | 0.00 | 0.57 | -0.44 |
| 28 | Mehran Modaraba 1st | 2.19 | -3.28 | 0.00 | 2.25 | 0.06 | 2.32 | 0.12 | 0.00 | 3.63 | 1.31 |
| 29 | Modaraba Al Mali | 10.81 | 0.02 | 0.00 | 11.59 | 0.77 | 11.18 | 1.62 | 12.50 | 12.03 | 0.85 |
| 30 | Modaraba Al-Tijarah | 3.51 | -2.06 | 0.00 | 3.53 | -6.53 | 3.54 | 0.02 | 0.00 | 3.70 | -6.51 |
| 31 | National Modaraba 1st | -2.03 | 1.18 | 0.01 | 8.12 | -0.72 | 1.12 | 0.02 | |||
| 32 | Pak Modaraba 1st | 8.83 | 0.50 | 0.00 | 9.05 | 0.21 | 10.93 | 0.90 | 10.00 | 8.43 | 0.31 |
| 33 | Paramount Modaraba 1st | 11.03 | -1.25 | 0.00 | 11.75 | 0.72 | 11.47 | 1.13 | 10.00 | 11.62 | 0.68 |
| 34 | Professional Modaraba 1st | 11.34 | 0.63 | 0.00 | 12.01 | 0.67 | 11.05 | 0.89 | 7.00 | 12.21 | 0.74 |
| 35 | Providence Modaraba 1st | 10.86 | -2.21 | 0.00 | 11.71 | 0.67 | 8.20 | 0.69 | 5.00 | 11.70 | 0.48 |
| 36 | Prudential Modaraba 1st | 8.01 | -1.41 | 8.00 | 8.47 | 0.46 | 9.23 | 0.10 | 0.00 | 9.50 | 1.30 |
| 37 | Prudential Modaraba 2nd | 9.13 | -1.20 | 0.00 | 9.72 | -1.23 | 6.19 | 0.63 | 5.00 | 9.70 | -0.69 |
| 38 | Prudential Modaraba 3rd | 6.06 | 0.10 | 0.00 | 6.50 | 0.43 | 11.68 | 0.11 | 5.00 | 6.68 | 0.49 |
| 39 | Punjab Modaraba 1st | 12.07 | 0.00 | 0.00 | 12.28 | 0.21 | 10.00 | 0.00 | 0.00 | 11.91 | 0.23 |
| 40 | Schon Modaraba | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 10.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| 41 | Tawakkal Modaraba 1st | 0.00 | -0.11 | 0.00 | 0.00 | 0.00 | 11.58 | 0.02 | 0.00 | 0.00 | 0.00 |
| 42 | Tri-Star Modaraba 1st | 11.56 | -0.07 | 0.00 | 11.64 | 0.08 | 11.31 | -0.02 | 0.00 | 11.58 | -0.00 |
| 43 | Tri-Star Modaraba 2nd | 11.33 | 0.79 | 0.00 | 11.32 | -0.01 | 15.86 | 1.09 | 10.00 | 11.31 | -0.00 |
| 44 | Trust Modaraba | 14.76 | 1.61 | 0.00 | 15.30 | 0.54 | 12.46 | 1.39 | 10.00 | 15.38 | 0.52 |
| 45 | UDL Modaraba 1st | 12.07 | -1.00 | 0.00 | 11.96 | 0.89 | 9.97 | -0.43 | 0.00 | 12.13 | 1.16 |
| 46 | Unicap Modaraba | 7.09 | -0.05 | 0.00 | 0.00 | 0.00 | 6.80 | 0.29 | 0.00 | 0.00 | 0.00 |
| 47 | Unity Modaraba | 10.10 | 0.05 | 0.00 | 0.00 | 0.00 | 0.07 | -10.03 | 0.00 | 0.00 | 0.00 |
As on 30th June 1999, the total paid up capital of Modarabas was Rs. 8,123.27 million and reserves amounted to Rs. 1,285.94 million.
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