TRG Pakistan
| File:TRG Pakistan logo (2023).png | |
| Company type | Public |
|---|---|
| PSX: TRG KSE 100 component | |
| Industry | Venture capital |
| Founded | 2003 |
| Founder | Zia Chishti |
| Headquarters | Karachi, Pakistan |
Key people | Mohammed Khaishgi (chairman) Hasnain Aslam (CEO) |
| Decrease Rs. −32.213 billion (US$−110 million) (2024) | |
| Total assets | Decrease Rs. 40.582 billion (US$140 million) (2024) |
| Total equity | Decrease Rs. 33.286 billion (US$120 million) (2024) |
| Owner | Zia Chishti (16.12%) |
Number of employees | 6 (2024) |
| Subsidiaries | TRG International Limited (45.3%) |
| Website | trg |
| Footnotes / references Financials as of 30 June 2024[update][1] | |
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The Resource Group Pakistan, commonly known as TRG Pakistan, is a Pakistani venture capital firm specializing in investments in business process outsourcing companies. It is based in Karachi.[2]
History
[edit | edit source]Founded in 2003 by Zia Chishti, TRG originated from back-office operations he had established for Align Technology in Lahore.[3][4] After his departure from Align, these operations became the foundation of TRG Pakistan's call center business in Pakistan.[3] TRG obtained the certificate of commencement of business on February 27, 2003. The operations of the company effectively started on April 11, 2003.[4]
In July 2003, TRG was listed on the Karachi Stock Exchange following an initial public offering at a strike price of PKR 10.[5] In November 2003, TRG acquired a 40 percent stake in Centratel LLC, a provider of call center and telephone answering services in Bend, Oregon.[6] Previously, it made an investment in Los Angeles–based Alert Communications.[6]
In May 2004, TRG acquired iSKY Inc., a company providing customer care and marketing services to companies in North America and Europe.[7] In June 2004, TRG acquired DCS Inc., a South Dakota–based call center service provider, through its subsidiary Alert Communications, Inc.[8] A year later, in 2005, TRG made a seed investment in Afiniti, a software company developing artificial intelligence for use in customer call centers.[3]
In October 2007, TRG sold its shareholding of Central Voice, LLC to Endicott Communications for $1.75 million.[9]
In 2020, TRG's subsidiary ibex was listed on the Nasdaq.[10]
Subsidaries
[edit | edit source]Legal Issues
[edit | edit source]In June 2025, the Sindh High Court delivered a 52-page judgment in J.C.M. No. 12 of 2025, ruling that TRG Pakistan Limited’s management—specifically Mohammed Khaishgi and Hasnain Aslam—acted in a manner that was “unlawful, fraudulent and oppressive.” The court found that a Bermuda-based shell company, Greentree Holdings, had acquired nearly 30 percent of TRG’s shares using approximately US $80 million of TRG’s own funds, in violation of Section 86(2) of the Companies Act, 2017.[12] A further tender offer to acquire an additional 35 percent using a further US $70 million was also deemed illegal. The court subsequently invalidated Greentree’s shareholding and ordered immediate board elections to correct the governance breach.[13][14][15]
References
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- ^ Judgment of the High Court of Sindh, Karachi, J.C.M. No. 12 of 2025, delivered June 20, 2025. Sindh High Court. Retrieved June 22, 2025.
- ^ "TRG Pakistan management acted fraudulently, illegally in Zia Chishti case: SHC". Geo News. June 20, 2025.
- ^ "SHC finds $150 million fraud by TRG Pakistan management". The Nation. June 22, 2025.
- ^ "Fund manager Pinebridge implicated in $150 million fraud". Dialogue Pakistan. June 22, 2025.
