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Bulls prolong parade, index rises 59 points Page 03
profit.com.pk
Thursday, 23 February, 2012
Abraaj Capital acquires Aureos Capital 100 pc of Aureos Capital is acquired g Aureos and Abraaj’s riyada Enterprise Development to create the world’s largest emerging markets and SME focused private equity platform g Transaction subject to regulatory approvals g
KARACHI
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STAFF REPORT
BRAAj Capital, a leading private equity manager investing in the rapidly growing economies of Middle east, turkey, Asia and Africa, today announced the acquisition of Aureos Capital (Aureos), a global private equity fund management group investing in Small and Medium-sized enterprises (SMes) across Asia, Africa and Latin America. According to statement issued by KeSC, which is run by the dubai based company, the acquisition of Aureos strengthens Abraaj Capital’s position in the emerging markets and private equity landscape and enhances its global scale. the combined entity will have approximately $7.5 billion in assets under management, a presence in over 30 countries across all global emerging markets, and 153 investments managed
by a seasoned team of over 150 investment professionals with unmatched local expertise. With an operational presence in over 20 countries, $1.3 billion in funds under management and over 250 deals completed in the SMe segment in the last two decades, Aureos has built a reputation as the leading emerging markets private equity manager focused on SMe investing, combining local insight, extensive proprietary networks and on the ground presence. through a hands-on engagement model, Aureos has successfully enabled its portfolio companies to scale up their businesses locally and regionally, and deliver value to shareholders and community stakeholders. the acquisition also brings Aureos together with Abraaj’s existing $650 million SMe platform, Riyada enterprise development (Red), which is focused on the MenA region. the transaction will create the world’s largest SMe focused
private equity group, targeting SMe investment opportunities across the high growth markets of Asia, Africa, Middle east and Latin America. While Aureos and Red will benefit from the synergies of being part of a common platform, and operate under the single brand, Aureos. All Aureos and Red funds will continue according to their existing fund mandates and investment guidelines. the expanded Aureos platform will retain its inherent structure and team within the Abraaj Group. Making the announcement, Arif naqvi, Founder and Group Chief executive, Abraaj Capital said, “this is a very exciting opportunity for Abraaj Capital and it will enable us to further extend our leadership position in emerging markets. Aureos is a globally respected private equity firm with a dedicated team of investment professionals who have extensive experience and knowledge of the markets they invest in; with a geographical footprint totally complementary to Abraaj
with no overlap. Both Abraaj Capital and Aureos are home grown emerging markets and private equity firms with a similar philosophy and shared values. this acquisition is an important step in our expansion into Latin America, South east Asia and Sub-Saharan Africa and is therefore, a new chapter in the story of Abraaj Capital.” Commenting on the transaction, Sev Vettivetpillai, Chief executive officer, Aureos said, “the integration with the Abraaj Group is a testament to Aureo’s success and investment proposition in the high-growth economies of Asia, Africa and Latin America. it further validates and strengthens our business model and will provide us with access to greater resources, tremendous synergies in the back office, new markets, and compelling investment
Half yearly financial results UBL announces Rs6 per share of indus Motor Company dividend Sales grow by 6.3 per cent g
KARACHI STAFF REPORT
oARd of directors of indus Motor Company Limited met on February 22, 2012 to review the company’s financial and operating performance for the half year ended december 31, 2011. As per the statement issued, automotive industry had to face many challenges during the fiscal year 2012, which includes managing severe supply disruption due to thai floods, together with steep rupee devaluation, increased cost pressures due to energy shortages and influx of used cars. Commenting on the results, the spokesperson said during the half year, company’s sales grew by 6.3 per cent to 24,341 units compared to 22,903 units sold for the same period last year. Correspondingly, the production also increased by 3.5 per cent to 24,316 units as against 23,482 produced in the same period last year. the company’s combined sales revenue for CKd,
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CBU and parts business amounted to Rs33 billion and the profit after tax stood at Rs1.77 billion on account of increased sales volume and cost efficiency. Commenting on quarterly performance, spokesperson said, “Going forward the challenges for auto industry will be, rupee depreciation and resultant cost pressures, expiry of AidP, correction in commodity prices which may impact rural buying, impact of ban on CnG cylinders and conversion kits imports and influx of imported used cars. the company will remain focused on improving its operational efficiencies to counter these challenges and deliver maximum value to its customers.” the Board of directors also announced interim dividend of Rs8 per share for the half year ended december 2011.
KARACHI STAFF REPORT
nited Bank Limited (UBL) achieved a profit after tax of Rs15.5 billion for 2011, which is 39 per cent higher than last year, the bank said Wednesday. this translates into earnings per share of Rs12.66 (2010: Rs9.12). Board of directors also approved a final cash dividend of 60 per cent, which means Rs6.00 per share, bringing the total cash dividend
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This is a very exciting opportunity for Abraaj Capital and it will enable us to further extend our leadership position in emerging markets
Arif NAqvi FOUNDER AND GROUP CHIEF EXECUTIVE, ABRAAJ CAPITAL opportunities. i look forward to working with the Abraaj Group to further expand the Aureos focus on the SMe segment across all emerging markets and integrating our business platforms to further enhance investor returns and long-term value for all stakeholders.” the proposed transaction has been strongly supported by Aureos’ core investors, including CdC. Rod evison, Managing director at CdC, the UK’s development Finance institution, commented, “Aureos has been able to build its investment business on a track record of careful and market-orientated investment in SMes, so today’s announcement is good news for entrepreneurs in emerging markets. it will mean increased access to capital and local expertise for businesses to help them grow and reach their potential.” the acquisition, which is subject to necessary approvals from the relevant authorities and one group of fund investors, is expected to be completed in the first quarter of 2012.
for the year 2011 to 75 per cent or Rs7.5 per share. despite testing times, UBL has achieved a profit before tax of Rs24.2 billion. this is 37 per cent higher than last year as a result of continued improvement in operating efficiency and margins. Provisions for the year declined for a second consecutive year as a result of the bank’s prudent approach towards extending financing given the difficult credit environment whilst nPL formation has also reduced year-on-year. net interest income before provisions increased to Rs39.4 billion, 15 per cent higher than last year. despite a 200bps reduction in the discount rate in the latter half of the year, the average yield on earning assets improved by 55bps whilst the cost of funds growth was contained at 35bps, as a result net interest margin increased to 7.0 per cent in 2010 to 7.2 per cent in 2011. total provisions declined by 7 per cent to Rs7.5 billion for 2011, with nearly 75 per cent being due to aging of existing non-performing accounts. Consequently, coverage improved from 72 per cent to 80 per cent by december 2011. As a result, net credit loss ratio improved from 2.3 per cent in 2010 to 2.1 per cent in 2011. net interest income after provisions is therefore, up 22 per cent to Rs32.1 billion. Fees and commissions generated from core banking businesses increased by 10 per cent to Rs6.9 billion mainly attributable to increase in remittances, Fi commissions and cross-sell of bank assurance. exchange income increased by 26 per cent to Rs2.1 billion as a result of higher transaction volumes and better leveraging of market opportunities.
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Thursday, 23 February, 2012
news
‘Cement prices rise less than other construction material’ LAHORE
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STAFF REPORT
iZAZ Mansoor Shaikh, Chairman All Pakistan Cement Manufacturers Association (APCMA) has said cement price compared with other building materials and commodities showed much lower increase during last few years. on average, compared to cement price increase of 6.28 per cent, steel rates were raised by 15.90 per cent while bricks cost up by 13.14 per cent since the year 2000 till the first half of the current fiscal. Similarly, the cost of other commodities including urea and sugar also grew by 14.95 and 12.29 per cent respectively in the same period, he mentioned.
Chairman APCMA said the input cost over the years has increased tremendously as diesel prices increased by 94.3 per cent in 2011-12, 81.4 per cent in 2010-11, 69.3 per cent in 209-10, 60.6 per cent in 2008-9, 40.8 per cent in 2007-8. Power rates went up by 8.74 per cent in2011-12, compared to 5.18 per cent in 2007-8 while coal jumped up by 111.2 per cent in2011-12. However, on the contrary, cement per bag rates rose by just 6.28 per cent from Rs328.5 in2008-9 to Rs350 in 201112. if we see further past four years the cement prices registered growth of 23.1 per cent in four years i.e. from 2005-6 to 2008-9, as it rose to Rs328.5 from Rs252.1. Chairman APCMA said the industry produced 17.94 million ton
PASA apprehensive about lack of fertiliser awareness LAHORE
of cement in the first seven months of this fiscal ending on january 2012. this, he informed, is only 3.94 per cent higher than the production during corresponding period of last fiscal. He said that the surge of 7.21 per cent in domestic demand of cement was offset by 3.59 per cent decline in exports. He pointed out that the cement sector continues to operate below 70 per cent installed capacity in january 2012 while most of the manufacturers are not recovering even full input cost. He said the cement industry paid heavy price for the expansion in production capacity that was planned on the assumption that the economy would grow at an average of 6 per cent or above. Unfortunately, he added, the economic
growth has averaged 2.5 per cent during past four years that suppressed the demand for cement in the local market. “We always look for ways to lower the energy cost and for new plants we have to bear the research cost, capital cost and the cost to pursue more efficient plants, but this is not usually included in manufacturing cost of cement,” he added. He further said that energy, which adds more than 50 per cent to the cost of production of cement, has taken unprecedented jumps in a couple of years, almost doubling the production cost, but the cement manufacturers absorbed the same with their efficient plants and reuse of energy mixed with heat recovery and other technology.
Utility shortage hampering Textile City project
IMRAN ADNAN
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AKiStAn Agricultural Scientists Association (PASA) President jamshed iqbal Cheema has said that lack of awareness about balance used of fertilisers, certified seed and efficient use of water are the most important factors hitting farm income of growers. in addition, better farm management practices are other important ingredient besides aforementioned factors to enhance per acre yield as well as income of the growers. nevertheless, he regretted that not a single professional farm manager is available in the country. Speaking to a select group of journalists here on Wednesday, Cheema underscored that establishment of food processing industries was necessary to ensure good return to growers of their hard labour and maintaining price equilibrium in the market. He pointed out that when the country would have food processing facilities and cold storage chains, it would remove uncertainty from markets and discourage upward price spiral in case of shortage or bumper crops. PASA president indicated that most post-harvest losses were result of the absence of cold storage facilities and processing industry. He criticised the policies of the present government both at federal and provincial levels towards agricultural sector and said that all policies were political motivated and not aimed at protecting interests of the growers and farmers.
KARACHI
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ZAIN ALI
edeRAL Minister for textile and industry Makhdoom Shahabuddin said that the land of textile City is akin to a hot cake for investor, but shortage of water, gas and electricity has broken the trust, he added. He was addressing the meeting of national Assembly Standing Committee on textile industry (nASCti) at PHMA, here on Wednesday. He said that textile sector is facing a very difficult time, as we all know that we have shortage of power and gas and these two utilities are very important for our industry. Makdoom Shahabudding added that japanese Ambassador and Chinese companies visited Karachi and showed their interest in textile City. textile Minister also said
that the textile sector is the backbone of our economy, and the sector provided $14 billion to the exchequer, and hence we have to resolve the issues of the industry urgently or else we won’t be able to achieve our export targets he added. Chairman of national Assembly Standing committee on textile industry, Haji Mohammad Akram Ansari said that we have to take the thar Coal project as our priority, and the government should release the fund for the project, if we resolve the issue of power then nobody can beat us as we will have immense potential to grow our economy. Chairman Sindh Board of investment (SBi) and Advisor to Chief Minister Sindh, Zubair Motiwala told that Bangladesh is providing the gas to the industry, 40 per cent cheaper than our country, that’s why they
German Consul General wants European investment in Pakistan KARACHI JAVED MAHMOOD
eRMAn Consul General dr tilo Klinner said he had asked German and French companies to get ready to make investment in Pakistan in 2012. dr Klinner pointed out this in an informal interaction with some senior journalists in Karachi on tuesday night. He pointed out there was a backlog of projects and investments to be undertaken by the German companies in Pakistan. the backlog developed because of a number of reasons that could not be pointed out exactly, he said. He, however, said he had urged German and French companies to get ready to make investment in Pakistan as the business sentiment was improving rapidly in the country amid reports of early elections and caretaker set-up. He said German companies were
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interested in carrying out infrastructure and alternative energy development projects in Gwadar and other parts of the country. dr Klinner further stated these companies were also interested in handling wastage in Karachi which is going to be the fifth largest city in the world by the year 2015. Karachi, he said, produces wastage in a greater quantity than other similar cities in the world. Referring to economic cooperation and bilateral trade ties, dr Klinner said Pakistan German Business Council was striving to bring more German investment to Pakistan beside the 12 blue chip German companies operating here. However, he said small and medium enterprises were reluctant because of negative media projection which painted Pakistan in an adverse light. German Consul General said he had spoken at numerous German chambers of commerce and other forums to
give a correct picture. dr Klinner specifically mentioned two areas that he felt should be explored further between both countries. one of them is solutions and development of infrastructure for megacities. He said Karachi was likely to become the tenth largest city in the world by 2023 and fourth largest by 2050. this posed a real challenge to city’s planners and there was a pressing need to develop an efficient and cheap mass transit system and state of art waste management and water management facilities. Germany had the expertise and know-how in this respect. the second area mentioned by the German diplomat was alternative energy sources. He said Germany was the leader in producing energy from solar and wind power. eight wind energy projects were being set up in Sindh, he added, and thar coal project could also benefit from German experience as it was of lignite variety and Germany had
have 33 per cent more business than Pakistan. Zubair Motiwala added that the industry cannot run without gas and electricity, he demanded tha government should provide the gas to the industry, as they are trying to convince the foreigner investors to the textile City and other projects and all these efforts are useless if we do not have a solution of these important things. He said that if the situation remains the same, we cannot achieve the export targets, and this year we have already lost the investors’ trust. Former Chairman PHMA, javed Bilwani voiced the opinion that it is very difficult to survive in this country; there is a lack of gas, electricity and water, in the last four years government increased the 54 per cent tariff of electricity and 62 per cent in gas tariff, he concluded.
vast expertise in that. He said German giants, like Siemens and BASF had a decade long and fruitful association with Pakistan and Germany was also instrumental in helping Pakistan acquire access to european markets through eU GSP scheme. Pakistan is a very young country and attention to good education and vocational training for youth is the key to its bright future, he said. dr Klinner spoke in detail about Pakistan German ties and said cooperation between the two countries depended upon those areas and sectors which met the most urgent and pressing needs of Pakistani society. He said youth was an important asset of Pakistan as it comprises of 65 per cent of the population. Germany, he said, was keen to strengthen the traditional academic cooperation with special focus on vocational training schemes, and a pilot project in the offing. He added the objective was to impart vocational training and chances of employment in German MnCs operating in Pakistan. He pointed out there was a bright future for demanding jobs, like lab specialists, pharmaceutical, technology and power generation enterprises.
Agri forum hails Punjab govt’s decision LAHORE: Agri Forum Pakistan Chairman Muhammad ibrahim Mughal has welcomed the decision of the Punjab government to ensure payment of the sugarcane to growers within 15 days of issuance of Cane Procurement Receipt (CPR). in a statement issued here Wednesday, Mughal also hailed the decision of the Punjab Cabinet that dCo could take the sugar in to his custody on receiving complaint of non-payment by any grower by the mills in the jurisdiction of that dCo. He said this step would ensure timely payment of sugarcane to the growers. He said Agri Forum Pakistan was demanding since long that payment of CPR should be ensured within 15 days and it seemed possible after today’s decision of the Punjab cabinet. He said now dCo was responsible to ensure payment to the sugarcane growers. STAFF REPORT
Engro reduces DAP price LAHORE: engro Fertilisers Limited has announced a reduction in dAP (di-Ammonium Phosphate) prices by Rs310 per bag from Rs4, 060 to Rs3,750 per bag, following reduction in international prices, effective immediately. international prices have reduced from approximately $700 to $610 per tonne. Mohammed Khalid Mir, VP Marketing, engro Fertilisers Limited, said, “this reduction will be a relief to the farming community which has been faced with rising fertilizer and agri-inputs prices and would make fertiliser affordable for upcoming season of sugarcane, cotton and maize crops.” STAFF REPORT
Huge German investment on the cards LAHORE: German Agriculture Minister is arriving in two to three months time to explore new business avenues in Agriculture sector while a German auto sector giant is also making a huge investment by establishing its manufacturing plant in Pakistan. this was stated by the head of Commercial Section, German embassy, Samy Saddi, while talking to LCCi President irfan Qaiser Sheikh here at the Lahore Chamber of Commerce and industry on Wednesday. LCCi Vice President Saeeda nazar, former President Mian Anjum nisar, former Senior Vice President tahir javaid Malik and former Vice President Aftab Ahmad Vohra were also present in the meeting which continued for well over two hours. STAFF REPORT
LSE approves formal listing application LAHORE: Lahore Stock exchange (G) Ltd. (LSe) has approved the application for formal listing and quotation of the Units of nAFA Money Market Fund (open end Fund managed by nBP Fullerton Asset Management Ltd.). the Fund will be quoted under “open-end Fund” sector of the Ready Board Quotation of the exchange with effect from Friday, February 24, 2012. the investment objective of the Fund is to provide stable income stream with preservation of capital by investing in AA and above rated banks and money market instruments. the performance benchmark of the Fund for the period of return shall be based on average 3-month deposit rate of AA rated banks or such other benchmark as determined by the management company under prior approval of SeCP. STAFF REPORT
PiAf condemns petroleum price hike LAHORE: Pakistan industrial and traders Association Front (PiAF) has took strong exception of the reported increase in the petroleum prices from 1st of March and urged the government to avoid any increase as petroleum prices are already much high and further increase would be last straw on the back of camel. in a press statement issued here Wednesday, PiAF Chairman Sohail Lashari said that recent massive increase in the petrol, diesel and other petroleum prices has shattered all segments of society including industrialists and traders. He said that government did not bother to pass on the benefit of decrease of oil prices in international market and earned billion rupees, which was a sheer injustice and now made a huge raise in the petroleum prices. STAFF REPORT
KBP urges govt to consult farmers LAHORE: Kisan Board Pakistan (KBP) has urged the Punjab government to hold large scale consultations with the organisations representing growers and farmers for any change in the Cane Act. it urged that payment of sugarcane should be made compulsory through cheque instead of Cane Procurement Receipt (CPR) and strict punishments should be proposed for weighing less, deduction or violation of cane act. ‘All these crimes should be made a cognisable offense,’ said KBP Central President Sardar Zafar Hussein while reacting to the news of proposed changes in the provincial cane act by the government. Sardar Zafar alleged that sugar millers who were present in the ruling parties wanted amendment in the Cane Act secretly to safeguard their own interests by ignoring all the demands by the farmers. He said the government should have taken into confidence thousands of growers across the province in this regard, but this is not being done as millers were present in the ranks of all the ruling parties. He alleged even ruling and opposition parties were united on issues to protect the interest of their members. STAFF REPORT
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Thursday, 23 February, 2012
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news
Agricultural credit disbursement up by 20pc KARACHI STAFF REPORT
GRiCULtURAL credit disbursement by the banks surged by 20 per cent on year-on-year basis to Rs149.658 billion in the first seven months (july-january) of the current fiscal year (2011-12), reported the central bank Wednesday. in absolute terms, it said, the disbursement of credit to the agriculture sector increased by over Rs24.772 billion in july-january, 2012 when compared with total
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disbursement of Rs124.886 billion in the same period of the last fiscal year. overall credit disbursement by five major commercial banks, including Allied Bank Limited, Habib Bank Limited, MCB Bank Limited, national Bank of Pakistan and United Bank Limited stood at Rs82.462 billion in july-january, 2012 compared with Rs68.481 billion disbursements in july-january, 2011; depicting an increase of Rs13.981 billion or 20.42 per cent. Zarai taraqiati Bank Limited, the largest specialised bank, disbursed a total of Rs26.361 billion in july-
january, 2012, down by 0.03 per cent when compared with Rs26.369 billion disbursement in the same period of the last fiscal year. Punjab Provincial Co-operative Bank Limited disbursed Rs4.980 billion in julyjanuary, 2012 up by 28.49 per cent when compared with Rs3.876 billion disbursement in the same period of the last fiscal year. Fourteen domestic private banks also loaned a combined amount of Rs28.996 billion in july-january, 2012 up by 10.84 per cent compared with Rs26.160 billion disbursement in the same period of the last fiscal year.
Major Gainers Company Wyeth Pak Limited Mithchells XD Habib Bank Ltd National Foods United Bank Ltd
Open 748.02 113.89 118.70 80.05 63.61
High 760.00 119.58 124.50 84.05 66.79
Low 740.00 119.58 119.50 82.80 63.50
Close 754.87 119.58 123.50 84.05 66.65
Change 6.85 5.69 4.80 4.00 3.04
Turnover 846 103 295,218 4,551 7,466,635
5602.00 1701.00 750.00 348.88 204.99
5601.00 1700.00 750.00 332.50 193.83
5601.20 1700.00 750.00 334.78 193.96
-48.80 -40.00 -34.80 -15.22 -10.07
6 29 109 78 5,551
14.17 10.50 1.96 8.20 5.00
13.25 9.57 2.16 8.40 5.88
13.88 9.75 0.25 -0.70 1.00
Major Losers UniLever Pak Ltd. Unilever Pak Foods Colgate Palmolive Indus Dyeing Service Industries
5650.00 1740.00 784.80 350.00 204.03
Volume Leaders
Bulls prolong parade, index rises 59 points STAFF REPORT KARACHI
He bulls kept dominating Karachi stocks market Wednesday as the ongoing earning announcements by selected blue-chips scrips led by the banks continue to arouse optimism among the investors. the day saw the benchmark 100-share index finishing up by 0.47 per cent or gaining 59.22 points to close at 12,603.67 points compared to 12,544.45 points of tuesday. “Stocks closed bullish at KSe lead by banks, selected blue-chip scrips on investor speculations after record earnings in the earning announcements session,” viewed Ashen Mehanti of Arif Habib Securities. the trading volumes at the ready-counter slid to 272.371 million shares after peaking to record level of 332.473 million shares a
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Bank Al-Falah Jah.Sidd. Co. Pace (Pak) Ltd. B.O.Punjab Soneri Bank Ltd
13.45 10.24 1.91 2.34 9.10 9.85 4.88 5.88
0.43 26,188,085 -0.49 21,685,855 18,589,198 18,066,154 14,684,409
Interbank Rates US Dollar UK Pound Japanese Yen Euro
day earlier. the trading value also set in red green zone and finished at Rs5.384 billion against Rs6.681 billion of the last session. the index hit the intraday high and low of 12,664.15 and 12,544.45 points, respectively. the market capitalization grew by Rs13 billion to Rs3.286 trillion from the previous day’s Rs3.273 trillion. of the total 346 traded scrips, 128 gained, 143 lost and 75
PTCL’s EPS down by 29pc in 1HfY12
remained unchanged. the free-float KSe-30 index too finished upward and gained 15.26 points to close at 11,704.88 points against 11,689.62 points of tuesday. Bank Al-Falah was the day’s volume leader with 26.188 million of its shares traded at Rs13.45 in the opening and Rs13.88 in closing of the market. the future market also came down in terms of turnover that
declined to 13.94 million shares as against Rs17.319 million shares of last session. “trade remained in narrow range ahead of oGdC earning announcement due tomorrow after reports on government decision on idB borrowings to repay iMF, easing political outlook, higher global commodities and renewed foreign interest in Pakistan bourse,” said Mehanti.
US Dollar
ABf holds 11th General Body Meeting
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same period last year,” said the analysts at topline Securities. the major reason behind subdued earnings was the shrinking gross margins that fell by 142bps to 26.1 per cent as compared to 27.5 per cent in the same period last year, said nauman Khan. the analyst said the company’s ailing fixed line operation stood as a major culprit behind reduced gross margin. in addition, decline in company’s other income by 46 per cent to Rs1.7bn in 1HFY12 as against Rs3.2 billion last year also lent its hand in dragging overall earnings downwards. in 2QFY12, PtCL posted unconsolidated ePS of Rs0.28 showing a decline of 26 per cent as compared to Rs0.38 in same period last year. However, compared to the previous quarter (1QFY12) the earning improved by 8 per cent.
Sell
90.60
91.10
119.42
120.74
Great Britain Pound
141.45
142.92
Japanese Yen
1.1221
1.1334
Canadian Dollar
89.91
91.47
Hong Kong Dollar
11.50
11.77
UAE Dirham
24.65
24.87
Saudi Riyal
24.15
24.34
Australian Dollar
95.52
98.08
CORPORATE CORNER
KARACHI
Our preliminary assessment suggests that consolidated earnings would fall in the range of Rs0.87-0.92 per share
Buy Euro
distribution and dealer Sales Achievement Rewards Ceremony, for outstanding sales-performers. A special lucky draw was also held to present highvalued prizes to the delegates participating from various it product enterprises. PRESS RELEASE
STAFF REPORT
AKiStAn telecommunication Communication Limited (PtCL) announced its unconsolidated 1HFY12 earning per share (ePS) of Rs0.56, depicting a decline of 29 per cent as compared to the same period last year. However, the company has not disclosed consolidated earnings that include the overall Ufone’s earning contribution to PtCL. “our preliminary assessment suggests that consolidated earnings would fall in the range of Rs0.87-0.92 per share, down 20-24 per cent from Rs1.15 per share reported in the
90.8100 142.6625 1.1323 120.1598
SAP to arm SMEs with real-Time Analytics LAHORE: the ABF held its 11th General Body Meeting at the Royal Palm Golf and Country Club with a strong panel of 9 executive Committee Members and 15 General Body Members. Matters of social, political, industry and services were discussed and solutions recommended along with decisions to support under privileged members of the civil society especially in the field of literacy, vocational training, and education. PRESS RELEASE
PTCL gains growth in revenue, earns net profit of rs2.84 billion ISLAMABAD: Pakistan telecommunications Company Limited (PtCL) has gained net profit of Rs2.84 billion in its half-year earnings made during FY2011-12 for the period ending december 31, while also showing a growth of 7 per cent in revenue. “PtCL’s profits and revenue growth during first half of FY2011-12 is a strong indicator of our dynamic corporate direction as well as our customers’ continued satisfaction and trust,” said PtCL Ceo and President, Walid irshaid, following a meeting of the company’s Board of directors held here today, which announced the company’s sixmonths’ financial results for the period ending december 31, 2011. PRESS RELEASE
Samsung leads iT award ceremony in Lahore LAHORE: Samsung electronics Co Ltd is a global leader in semiconductor, telecommunications, digital Media and digital Convergence technologies. Recently, the Head of HHP and it at Samsung, Mr Roy Yongil Chang was invited to chair an it Awards Ceremony, organized by a prominent distributor of it products in Pakistan – decent Computers. the event was organized at the Liberty Castle in Lahore. the event featured a Prize
KARACHI SAP AG has announced two new offerings that will deliver the benefits of the SAP HAnA™ platform to small businesses and mid size enterprises (SMes) in Pakistan. With analytics powered by SAP HAnA for the SAP® Business one application and SAP HAnA, edge edition, SMes will be able to leverage powerful in-memory technology from SAP. By helping organisations act on information as it happens, SAP HAnA revolutionises decision-making, dramatically increasing the speed of existing processes and accessing large amounts of data in shorter periods of time. PRESS RELEASE
the finalized programme, the delegation will arrive in islamabad on March 07 and after meetings the whole day there, visit Karachi on March 08 and 09, 2012. PRESS RELEASE
Khushhalibank, Beaconhouse join hands for Model United Nations 2012 PESHAWAR: Khushhalibank, remaining committed to its pledge of advocating leaders and entrepreneurs of tomorrow, partnered with the Beaconhouse Frontier Campus, Peshawar, for “Model United nations 2012”, where participants research a country, take on roles as diplomats, investigate international issues, debate, deliberate, consult, and then develop solutions to world problems. PRESS RELEASE
Nestlé Pakistan rebuilds primary school KARACHI: At a modest ceremony held at the office of Minister for education, Government of Sindh, today, nestlé Pakistan signed an agreement with the provincial education department to rebuild a primary school located at Peerano Goth near Port Qasim industrial area, Karachi. the MoU was signed by Riaz Memon, Special Secretary education, Government of Sindh and Mansoor noor, Manager Government and Public Relations nestle, in presence of Pir Mazhar-ul-Haq, Minister for education and other representatives of the provincial Government and nestle. PRESS RELEASE
LAHORE: Young fans enjoying an excitement filled day on the stands at the stadium in Lahore. Emirates Airline treated fans from the Zindagi Trust Schools to the third day of the Pentagular Cup final and children were thrilled to watch their heroes up-close from the sidelines. PRESS RELEASE
Turkish Steel Exporters visit to Pakistan finalised ISLAMABAD: A high-powered delegation of turkish steel exporters will visit Pakistan in early March to hold meetings with government officials in islamabad and with private sector commercial importers and industrial users of steel in Rawalpindi/islamabad and in Karachi. the delegation representing 12 turkish steel manufacturers and exporters will be led by Mr namık ekinci, Chairman of the Board of directors, turkey Steel exporters’ Association. According to
KARACHI: Group photo of Ambassador of Italy to Pakistan Mr Vincenzi Prati with his wife, Mr Roberto Franceschinis, CG Itlay, with his wife, Mr and Mrs Irfan HA Vazeer, CEO Finlays and President of the Italian Business Development, Almas Jafry of Italian Consulate in Karachi, Mr Aamir Jafry, CEO, Arysta LifeScience and officials of Italian Consulate in Karachi. PRESS RELEASE