CPEC – Main Gamer to TPL Trakker
TPL Trakker limited is a joint venture of TPL Holdings and DigiCore of South Africa and responsible for markets in the Middle East & South Asian (MESA) region with over 150,000 units installed. Pakistan’s first and region’s largest vehicle and car tracking and fleet management service provider has established its notable presence in the market and remains the emphatic market leader today despite the presence of many competitors.
Financial year 2016 is going to be an exicting year for TPL Trakker as they have signed number of contract with the Chinese government according to which they will provide tracker services for projects under the CPEC project. Apart from it another notable activity that company is going for is issuing REIT for its Center Point building constructed under its subsidiary TPL Properties (PVT) Ltd.
TPL Properties (PVT) Ltd is also one of the ventures of TPL Holding and is a subsidiary of TPL Trakker. TPL Properties first project is a state of the art building CENTERPOINT. It is an office complex that was constructed keeping in view international standards of design and technology and is a unique addition to Karachi`s skyline. TPL Holding management has decided to raise additional capital for its future endeavors in construction business through REIT offering of its Center Point building. It will be second REIT offering after the Dolmen City REIT that was issued by the Dolmen City Group along with Arif Habib group through a company formed under the REIT regulations by the name of Arif Habib Dolmen REIT Management Limited. Management of TPL Trakker in their analyst briefing informed the investors that this IPO of REIT for its center point bulding is going to have an impact of RS 2.50 per share on its book.