Systems Limited

Systems Limited
SYS
Company typePublic
PSX: SYS
KSE 100 component
KSE 30 component
ISINPK0109001013
IndustrySoftware
Founded1977; 48 years ago (1977)
FounderAezaz Hussain
Headquarters
Lahore, Punjab
,
Pakistan
Area served
World Wide
Key people
Aezaz Hussain
(Chairman & founder)
Asif Peer
(CEO)
RevenueIncrease Rs. 53.44 billion (US$190 million)[1] (2023)
Increase Rs. 8.69 billion (US$30 million)[1] (2023)
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

Systems Limited (SYS) is a publicly listed Pakistani technology company, with a global presence, specialising in mortgage, apparel, retail and BPO services. It serves as the parent company of the Techvista Systems (United Arab Emirates), Systems Arabia (Saudi Arabia), Systems Misr (Egypt), and Techvista Qatar (Qatar), as well as NdcTech. As of June 2023, its market capitalisation stands at approximately US$441 million.[2][3]

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 recognised 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, and was also honoured by the Pakistan Stock Exchange in an awards ceremony.[17]

See also

References

  1. ^ a b c "SYSTEMS LIMITED". MarketScreener. Retrieved 19 June 2023.
  2. ^ "Stock quote for Systems Limited - Pakistan Stock Exchange". Retrieved 1 November 2022.
  3. ^ "Asia's 200 Best Under A Billion". Forbes.
  4. ^ a b "Pakistan's Tech Giant Systems Ltd. Makes it to Forbes Asia's 200 Best Under A Billion". brecorder.com. Business Recorder. 20 November 2020. Retrieved 31 January 2021.
  5. ^ Dawn.com (4 December 2020). "2 Pakistani firms make it to Forbes' coveted 'under $1bn' list". DAWN.COM. Retrieved 31 January 2021.
  6. ^ "2 Pakistani companies in Forbes' coveted 'under $1 billion' list". gulfnews.com. 5 December 2020. Retrieved 31 January 2021.
  7. ^ "Asif peer appointed as MD of systems Ltd". Pro Pakistani. 9 January 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". 3 December 2014. Retrieved 14 September 2021.
  10. ^ "These were top stocks at PSX 2020". 28 December 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. 3 September 2021. Retrieved 14 September 2021.
  12. ^ "Systems Limited expands into South Africa". Lahore Herald. 14 August 2022.
  13. ^ "Systems Ltd bags two at PSEB IT exports awards 2019". 24 August 2020. Retrieved 14 September 2021.
  14. ^ "Forbes Asia Best Under A Billion 2022". Forbes. Retrieved 1 November 2022.
  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. 4 January 2021. Retrieved 14 September 2021.

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