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Millat Tractors Limited: A Shariah-compliant Investment Opportunity

Fazal Jawad Seyyed, Ch. Tanveer Shehzad and Hafsa Ashfaq

Asian Journal of Management Cases, 2020, vol. 17, issue 1_suppl, S61-S77

Abstract: The case is based on the investment decision faced by the fund manager of Pakistan Islamic Pension Fund (PIPF), Manal Iqbal, at a leading asset management company, MCB Arif Habib Savings and Investment Limited (MCBAH). In early April 2015, Manal was asked by the chief investment officer of the company to evaluate Millat Tractors Limited (MTL) as a potential investment for PIPF to gain exposure to the agricultural sector of Pakistan. She directed her research team to prepare a valuation report for the MTL stock and reflected on the strategic position of her pension fund for the investment committee meeting on 27 April 2015.

Keywords: Cash flows; weighted average cost of capital (WACC); beta; discounted cash flow (DCF) analysis; terminal value; valuation; Shariah-compliant investment (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:sae:anjomc:v:17:y:2020:i:1_suppl:p:s61-s77

DOI: 10.1177/0972820119884399

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