Systems Limited

Systems Limited (SYS) is a Pakistani multi-national public technology company, involved in mortgage, apparel, retail and BPO services. Systems is the parent company of the Techvista Systems (United Arab Emirates), Systems Arabia (Saudi Arabia), Systems Misr (Egypt) and Techvista Qatar (Qatar), NdcTech. It has a market capitalisation of around US$441 million as of June 2023.[2][3]

Systems Limited
SYS
TypePublic
ISINPK0109001013
IndustrySoftware
Founded1977 (1977)
FounderAezaz Hussain
Headquarters
Lahore, Punjab
,
Pakistan
Area served
World Wide
Key people
Aezaz Hussain
(Chairman & founder)
Asif Peer
(CEO)
RevenueIncrease Rs. 31.759 billion (US$110 million)[1] (2022)
Increase Rs. 6.629 billion (US$23 million)[1] (2022)
Total assetsIncrease Rs. 14.754 billion (US$51 million)[1] (2022)
Number of employees
5,320 (2022)
SubsidiariesTechVista Systems, TechVista Qatar, Systems Arabia, NdcTech
Websitesystemsltd.com

History

Systems Limited was established in 1977.[4] The company is Pakistan's first software house.[4][5][6]

The company began its operations in the United States in 1997 and then in the United Arab Emirates in 2013. In the same year, Asif Peer was appointed as the CEO of Systems.[7] The company went public with an initial public offering (IPO) on December 4, 2014 and is now one of the largest IT exporters listed on the Pakistan Stock Exchange.[8] 13 million shares were listed on the Karachi, Islamabad, and Lahore stock exchanges.[9] In 2020, the company was the top performer in tech stocks, despite the COVID-19 pandemic.[10] In September 2021, the share price of Systems Ltd reached Rs. 740.93 and the company's market value became Rs. 102 billion, making Systems Ltd the first Pakistani IT company to cross-market value of PKR 100 billion.[11]

In Aug 2022, Systems Limited created a new subsidiary in Johannesburg, South Africa, as part of its ongoing global expansion. It is Pakistan's first IT company in Africa.[12]

Awards and recognition

In 2019, Systems was recognized by the Pakistan Software Export Board's IT Export Awards, receiving the Platinum Awards in Top IT Export 2019 and Top IT Consultancy Services Exporter.[13] In 2020, the company was one of 200 companies internationally to be included in Forbes Asia's "Best Under a Billion" list.[14][15][16] In light of its recognition by Forbes, Systems was awarded federal recognition by Pakistan's Federal Minister for Information Technology & Telecommunication,Syed Aminul Haque, and was also honored by the Pakistan Stock Exchange in an awards ceremony.[17]

See also

References
  1. "SYSTEMS LIMITED". MarketScreener. Retrieved 19 June 2023.
  2. "Stock quote for Systems Limited - Pakistan Stock Exchange". Retrieved 2022-11-01.
  3. "Asia's 200 Best Under A Billion". Forbes.
  4. Desk, BR Web (2020-11-20). "Pakistan's Tech Giant Systems Ltd. Makes it to Forbes Asia's 200 Best Under A Billion". Brecorder. Retrieved 2021-01-31.
  5. Dawn.com (2020-12-04). "2 Pakistani firms make it to Forbes' coveted 'under $1bn' list". DAWN.COM. Retrieved 2021-01-31.
  6. "2 Pakistani companies in Forbes' coveted 'under $1 billion' list". gulfnews.com. Retrieved 2021-01-31.
  7. "Asif peer appointed as MD of systems Ltd". Pro Pakistani. January 9, 2013. Retrieved 14 September 2021.
  8. Khan, Mutaher (25 January 2021). "Systems Ltd: leading the tech wave". DAWN.COM. Retrieved 14 September 2021.
  9. "Systems Ltd offer initial public offering". December 3, 2014. Retrieved 14 September 2021.
  10. "These were top stocks at PSX 2020". December 28, 2020. Retrieved 14 September 2021.
  11. "Systems Limited Becomes The First Pakistani IT Company To Cross Rs. 100 Billion Market Value | The Pakistan Post". ThePakistanPost.net. September 3, 2021. Retrieved 14 September 2021.
  12. "Systems Limited expands into South Africa". Lahore Herald. 14 Aug 2022.
  13. "Systems Ltd bags two at PSEB IT exports awards 2019". August 24, 2020. Retrieved 14 September 2021.
  14. "Forbes Asia Best Under A Billion 2022". Forbes. Retrieved 2022-11-01.
  15. "Asia's 200 Best Under A Billion". Forbes. Retrieved 14 September 2021.
  16. "PSX marks Searle, Systems, Feroz1888's Forbes moment". www.thenews.com.pk. Retrieved 14 September 2021.
  17. "System Ltd awarded federal recognition for its achievements". Technology Times. January 4, 2021. Retrieved 14 September 2021.
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