BLS International Services , a trusted global tech-enabled services partner for governments and citizens, has secured a significant contract to handle visa processing services for the Cyprus Embassy in Kazakhstan. This strategic move marks another milestone in the company's expanding global presence in the visa and consular services sector.

Key Details of the Agreement

Implications of the Deal

This new agreement underscores BLS International's growing reputation in the global visa outsourcing market. By partnering with the Cyprus Embassy in Kazakhstan, the company is set to streamline the visa application process for Kazakh citizens and residents planning to visit Cyprus.

BLS International's Market Position

BLS International has been consistently expanding its portfolio of government and diplomatic clients worldwide. This latest contract adds to their impressive list of partnerships, which includes numerous embassies and governments across various countries.

Outlook

While specific financial details of the contract were not disclosed, this deal is expected to contribute positively to BLS International's revenue stream. It also reinforces the company's position as a key player in the visa and consular services industry, particularly in the Central Asian region.

As global travel continues to recover post-pandemic, such strategic partnerships are likely to play a crucial role in facilitating smoother international movement and boosting tourism between Kazakhstan and Cyprus.

BLS International Services Limited , a global leader in outsourcing services, has announced the liquidation of two of its overseas subsidiaries due to their non-operational status. This strategic move aims to streamline the company's international operations and focus on more productive ventures.

Subsidiaries Affected

The two subsidiaries undergoing liquidation are:

1. Visametric LLC in Tajikistan
2. iDATA International SARL in Tunisia

Both entities were step-down subsidiaries of BLS International FZE, a subsidiary of BLS International Services Limited.

Liquidation Timeline

Financial Impact

The liquidation of these subsidiaries is expected to have a minimal impact on BLS International's overall financial position:

Key Points

• The decision to liquidate these subsidiaries stems from their non-operational nature.
• No consideration is being received from these liquidations.
• The company has confirmed that these transactions do not fall under related party transactions.
• The liquidations are not part of any scheme of arrangement under SEBI regulations.

This move by BLS International Services Limited demonstrates the company's commitment to optimizing its global operations and focusing on more productive business units. By divesting non-operational entities, the company aims to enhance its overall efficiency and resource allocation.

Investors and stakeholders should note that while these liquidations represent a change in the company's international structure, their minimal financial impact suggests that this is primarily an administrative streamlining rather than a significant shift in the company's overall business strategy or financial position.