According to a company press release, Pakistan’s Tech Group TPL is entering a new era by forming a holding company TPL Corp Limited, which will act as an investment holding company for the TPL Group.
Under the new structure, the business of TPL Trakker Limited has been bifurcated and separated into tracking and digital mapping businesses. TPL has made the decision to restructure its business to meet the demands of its fast paced growth and increasing diversification of its business portfolio.
The group will continue with investments across the insurance, real estate, transport, security, technology, vehicle and container tracking, navigation and mapping solutions and financial sectors.
“The aim of this arrangement is to enhance transparency; allow and enable foreign direct investment in sector specific companies.” said Mr. Ali Jameel, CEO TPL Corp.
The transformation process would be completed by 30th December 2017.
TPL Corp will operate in the same manner with the management and associates remaining in place across all operations, serving the same customers and partners as before.
TPL Trakker is in the business of providing superior quality GPS, GSM & Satellite Mobile Asset Tracking Management and Information Solutions. It’s the only vehicle tracking company to be assigned a long-term financial status rating of A- by the Pakistan Credit Rating Agency Limited (PACRA).