Latest news with #SystemsLimited
Business Recorder
30-07-2025
- Business
- Business Recorder
Pakistan's Systems Limited acquires British American Tobacco's IT arm
In a major strategic move, Systems Limited, one of Pakistan's largest software firms, has acquired British American Tobacco SAA Services (Private) Limited from British American Tobacco International Holdings (UK) Limited. The listed software firm shared the development in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. 'We hereby wish to inform you that Systems Limited in its board meeting dated 29th July 2025 considered and approved the acquisition of British American Tobacco SAA Services (Private) Limited from British American Tobacco International Holdings (UK) Limited,' read the notice. The principal line of business of British American Tobacco SAA Services (Private) Limited is to establish and provide services related to, inter alia, Information Technology (IT) and IT-led shared and digital business services. Pakistan's Systems Limited explores acquisition in IT and ITES sector This includes, but is not limited to, consumer/ customer services through Omni channel contact centre, marketing operations, HR operations, finance operations, procurement and supply chain related services to various geographies, a segment that aligns with Systems Limited's business process outsourcing (BPO) focus. A formal Share Purchase Agreement (SPA) was signed on 29th July 2025, outlining the terms and purchase price. 'The completion of the acquisition transaction will remain subject to satisfaction of conditions precedent and applicable regulatory approvals,' read the notice. In parallel, Techvista Systems (UAE), an associated company of Systems Limited, has signed a multi-year Master Services Agreement with Accenture (UK) Limited for the provision of AI-powered global shared services. These services will be delivered through British American Tobacco SAA Services (Private) Limited, where Techvista will act as a subcontractor. This is 'a bold step by Systems Limited to expand its global footprint and strengthen its BPO and digital services business,' stated Mohammed Sohail, CEO of Topline Securities, in a note.
Business Recorder
29-07-2025
- Health
- Business Recorder
‘First AI-powered physician assistant' launched
KARACHI: Pioneering health tech firm, Boston Health AI, announced the launch of Hami, the world's first AI-powered physician assistant, designed to optimise physician efficiency and enable personalised, evidence-driven and compassionate patient care at scale. Based on human-cantered design and intelligent automation, Hami is currently in active deployment across multiple hospitals in Pakistan and will expand globally over the coming year. Built on the belief that expert-level healthcare should be available to everyone, everywhere, without any time constraint, Boston Health AI's Hami is designed as a physician-first tool - combining real-world clinical insight with cutting-edge artificial intelligence to support doctors in delivering high-quality, equitable care. By reducing administrative burdens and enabling more informed decisions, Hami helps physicians focus on what matters most: their patients. 'Healthcare should not depend on geography or income. With Hami, we're using the power of AI to break barriers and support physicians in delivering expert level care to every patient, whether they're in Boston or Badin. It's a re-imagining of what accessible, intelligent and physician-empowered healthcare can look like at scale.' said Dr Adil Haider, Founder of Boston Health AI, and former Dean of the Aga Khan University Medical College. 'Hami is an interactive, patient facing AI powered physician assistant, built with proprietary models and fully compliant with global privacy and security standards. It bridges the gap between physicians and patients, streamlining medical intake, analysing clinical data and generating structured, evidence-based recommendations for physicians. It reduces administrative burden, enhances physician efficiency and supports high-quality consultations. Through Hami, we aim to reach and improve the lives of 1 billion patients worldwide.' Healthcare systems across the world are under growing strain, driven by workforce shortages, rising costs, fragmented access and outdated infrastructure. The World Health Organisation projects a global shortfall of 11 million healthcare professionals by 2030; a gap that will hit low-resource settings the hardest. In Pakistan alone, over 87 million people lack access to essential care. Patients in these environments often face long wait times and rushed consultations, severely limiting the quality and continuity of care. In response, Boston Health AI was established to help address these challenges, leveraging technology to close critical gaps in care. Boston Health AI is led by global award-winning trauma surgeon and health equity leader Dr Adil Haider, in collaboration with US-based AI-focused venture studio, C10 Labs and Systems Limited, a global systems integrator specializing in AI-driven transformation and consulting services. 'At Systems Limited, we believe technology can play a powerful role in improving healthcare,' said Asif Peer, Group CEO and Managing Director of Systems Limited, and co-founder and tech partner at Boston Health AI. 'Our teams worked closely with Boston Health AI to build a secure, adaptable, and scalable platform for Hami. By combining clinical insight with robust engineering, we've developed a solution that can improve how care is delivered, while also creating space for meaningful innovation in other sectors.' Copyright Business Recorder, 2025
Business Recorder
23-07-2025
- Business
- Business Recorder
Pakistan's Systems Limited explores acquisition in IT and ITES sector
Systems Limited, one of Pakistan's largest software firms, has announced that it is exploring the potential acquisition of an Information Technology (IT) and IT-enabled services business. The listed software firm disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Wednesday. 'We hereby wish to inform you that as authorised by the Board of Directors in the meeting held on Wednesday, 23rd July, 2025, Systems Limited is considering a potential acquisition of Information Technology (IT) and IT-enabled services business,' read the notice. The acquisition is subject to finalisation of negotiations of commercial terms, completion of due diligence, execution of definitive agreements and receipt of regulatory approvals. Systems Limited was founded in 1977 as a private limited company and was converted into a public listed company in 2005. SYS was listed on PSX in 2015. The principal activity of the company is the development and trading of software and business process outsourcing services. In short, SYS assists its clients in their digital transformation journey. Besides having a strong footprint in the local market, the company has a firm presence in the US, UK, EU and Middle East. Earlier in March, Systems Limited informed its stakeholders that it plans to double its investment in Saudi Arabia. 'Saudi Arabia presents a significant growth opportunity, with the potential to scale 3-5x compared to the UAE market. The depth across multiple sectors aligns well with the company's expertise. 'Consequently, the company is doubling its investments and expanding its Saudi operations,' it said back then. Systems said that with Saudi Arabia investing heavily in Artificial Intelligence (AI), including a $100 billion AI fund, there is a vast opportunity for the Company to leverage these developments.
Express Tribune
28-04-2025
- Business
- Express Tribune
PSX slides 1,405 points amid Pak-India tensions
The Pakistan Stock Exchange (PSX) witnessed a tug-of-war between the bulls and bears on Monday, as the index swung between a high of 116,659 (+1,190 points) before sweeping downwards to a low of 113,868 (-1,601 points). The KSE-100 index ultimately closed at 114,063.90, a decline of 1,405.45 points, or 1.22%. Analysts noted that the geo-political tensions following India's suspension of the Indus Water Treaty, as well as stalled bilateral trade and escalating tensions between the two countries played a catalyst role in the bearish close. According to Ahsan Mehanti of Arif Habib Corp, stocks fell across the board as investors eyed heightened geopolitical tensions following India's suspension of the Indus Water Treaty and stalled bilateral trade. He added that concerns over deteriorating Pak-India trade ties, and cross-border tensions played a catalyst role in the bearish close at PSX. At the close of trading, the benchmark KSE-100 index recorded a decrease of 1,405.45 points, or 1.22%, and settled at 114,063.90. In its market review, Topline Securities stated that today's trading session witnessed "a classic tug-of-war between bulls and bears." The index opened on a positive note, gaining strong momentum in the early hours, to register an intraday high of 1,189 points. However, the optimism proved short-lived, as intensified selling pressure later in the session caused the index to reverse sharply, touching an intraday low of 1,601 points, noted the brokerage. It added that the prevailing negative sentiment was largely driven by escalating tensions between India and Pakistan, which heightened investor concerns and weighed heavily on overall market confidence. On the positive side, Systems Limited, Lucky Cement, Meezan Bank, and HBL collectively contributed 489 points to the index. Conversely, the bulk of the negative impact came from Engro Holdings, UBL, Mari Petroleum, Engro Fertiliser, and PSO, which together shaved off 907 points from the benchmark, Topline stated. Despite the risk-averse sentiment, overall market participation remained firm, with volumes clocking in at 421 million shares and a turnover of Rs26.43 billion, it mentioned. Arif Habib Limited (AHL) in its commentary said that the week started off poorly due to tensions between India and Pakistan, impacting sentiment to hit the weekly downside objective of 113,700 points on Monday. Some 25 shares rose while 73 fell, with Engro Holdings (-6.21%), UBL (-3.32%) and Mari Petroleum (-2.45%) contributing the most to index declines. On the flip side, Systems Limited (+7.39%), Lucky Cement (+2.45%) and Meezan Bank (+2.08%) were the biggest upside contributors, observed AHL. It added that Indus Motor Company Limited announced 9MFY25 earnings per share (EPS) of Rs210.62, representing a 76% year-on-year (YoY) increase, and DPS of Rs126.0 per share, beating expectations. Additionally, Lucky Cement reported 9MFY25 EPS of Rs18.67, a 46% YoY increase, coming above expectations as well. Fauji Fertiliser Company reported 1QFY25 EPS of Rs12.39, a 25% YoY increase, and DPS of Rs7.0, also surpassing expectations, noted AHL. It concluded that the market can see a bounce once 113,700 points are taken out, but the bias remains to the downside against the "Indus Water Treaty Gap." Ali Najib from Insight Securities remarked in his review that "markets thrive amidst positive vibes, not in warmongering!" Indeed, one can expect a short-lived rally but sustainable positive momentum is unlikely till the recent escalation between India and Pakistan gets settled. That's the tale of today's trading session, he asserted. Overall trading volumes decreased to 423.9 million shares compared with Friday's tally of 471.1 million. Shares of 449 companies were traded. Of these, 93 stocks closed higher, 313 fell and 43 remained unchanged. Bank of Punjab was the volume leader with trading in 23.7 million shares, falling Rs0.41 to close at Rs9.3. It was followed by Power Cement with trading in 21.6 million shares, falling Rs0.99 to close at Rs13.29 and WorldCall Telecom with 18.3 million shares, falling Rs0.03 to close at Rs1.26. During the day, foreign investors bought shares worth 209.2 million, the National Clearing Company of Pakistan Limited (NCCPL) reported.
