International Karachi, Saturday, July 30, 2011, Shaban-ul-Muazzam 27, Price Rs12 Pages 8
Altaf asks MQM to join peace campaign of Sindh govt Economic Indicators Forex Reserves (23-July-11) Inflation CPI% (Jul 10-Jun 11) Exports (Jul 10-Jun 11) Imports (Jul 10-Jun 11) Trade Balance (Jul 10-Jun 11) Current A/C (Jul 10-Jun 11) Remittances (Jul 10-Jun 11) Foreign Invest (Jul 10-Jun 11) Revenue (Jul 10-Jun 11) Foreign Debt (Mar 11) Domestic Debt (Jun 11) Repatriated Profit (Jul 10 - Jun 11) LSM Growth (May 11)
GDP Growth FY12E Per Capita Income FY10 Population
$18.30bn 13.92% $24.83bn $40.41bn $(15.59)bn $542mn $11.20bn $1.92bn Rs 1598bn $59.54bn Rs 5957bn $758mn -2.28% 4.20% $1,051 176.77mn
Portfolio Investment SCRA(U.S $ in million)
Yearly(Jul, 2011 up to 28-Jul-2011) Monthly(Jun, 2011 up to 28-Jul-2011) Daily (28-Jul-2011) Total Portfolio Invest (16-Jul-2011)
-42.59 -42.59 -7.60 2768
NCCPL (U.S $ in million)
FIPI (29-Jul-2011) Local Companies (29-Jul-2011) Banks / DFI (29-Jul-2011) Mutual Funds (29-Jul-2011) NBFC (29-Jul-2011) Local Investors (29-Jul-2011) Other Organization (29-Jul-2011)
0.16 -7.66 8.11 1.15 -0.42 -1.29 -0.05
Global Indices Index KSE 100 Nikkei 225 Hang Seng Sensex 30 ADX SSE COMP. FTSE 100 *Dow Jones
Close 12,190.37 9,833.03 22,440.25 18,197.20 2,627.99 2,701.73 5,815.19 12,179.87
Change 92.32 68.32 130.49 12.32 13.42 7.05 58.02 60.24
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Qatari delegation calls on President
Zardari for more Qatari investment ISLAMABAD: A delegation from Qatar, headed by Sheikh Ali Bin Abdullah Bin Thani, member of Royal family of Qatar, called on President Asif Ali Zardari here at the Aiwane-Sadr on Friday afternoon. Zardari urged the business community of Qatar to take advantage of conducive investment environment of Pakistan and invest in various sectors including energy, infrastruc-
Yaqoob elected President AJK ISLAMABAD: Sardar Yaqoob Khan of the Pakistan People's Party(PPP) on Friday clinched the majority votes and declared successful to become the President of Azad Jammu and Kashmir. Sardar Yaqoob Khan received 40 votes while his opponent Bhadar Khan of PML-N could get 11 votes. Sardar Yaqoob, while talking to a TV channel, thanked the See # 6 Page 7
ture, banking, information technology and construction. The President also appreciated the support and assistance of the Qatar government to Pakistan in every hour of need. The delegation included: Sheikh Khalid Al-Thani, member of Royal family, Ambassador of Qatar in Islamabad Ahmed Ali Hanzab, Sayyar Abdul Rehman, Abdul Basit Al-Sheibi, CEO Qatar
International Islamic Bank and Ayez Qahtani, CEO Charity Programme RAF. Pakistani side included: M Salman Farooqui, Secretary General to the President, spokesperson to the President Farhatullah Babar and other senior officials. Pak-Qatar bilateral relations, mutual cooperation in economic, commercial investment and See # 4 Page 7
Envoy offers US help to pacify Karachi
See on Page 8
Rs73mn tax evasion in Papco, Parco
See on Page 8
Security panel summons Malik
See on Page 8
Executives join heads to combat odds ISLAMABAD: A meeting of chief ministers and governors of the provinces was held at Aiwan-e-Sadr on Friday. The meeting chaired by President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani was attended by Sardar Muhammad Latif Khosa, Governor Punjab, Barrister Syed Masood Kausar, See # 9 Page 7
BOI launches online work visa service
Investors to get Pak visa swiftly ISLAMABAD: Prime Minister of Pakistan Syed Yousuf Raza Gilani launched an investor-focused and interactive online work visa application for the investors to get the work visa without delays and documentations. On this occasion, Prime Minister of Pakistan said that the new service is leading the Board
of Investment (BOI) towards the automation of investment procedures. In order to improve the work efficiency of BOI, to provide better services to investors, contemplating to invest in Pakistan, the initiative of visa online would help to avoid unnecessarily delays in See # 5 Page 7
Hajj case probe
SC cancels top Awan hints at officer’s relegation new province
ISLAMABAD: PPP senior leader Senator Babar Awan has said that orders of the Supreme Court would be implemented fully. To a question, he said that Ramazan always bring happiness of Eid and this Ramzan would bring double happiness as a good-news would soon be announced for Seraiki belt. Addressing journalists here at
his residence on Friday, he said that the Pakistan People's Party (PPP)-led government has been implementing 100 per cent decision of the apex court. On the court's instructions against appointing secretary establishment division, he said that the government would surely implement this decision as well. See # 8 Page 7
ISLAMABAD: The Supreme Court (SC) on Friday has cancelled the notification of relegation of Sohail Ahmed from the post of establishment secretary to the post of 'officer on special duty' (OSD). The court in its detailed verdict said that the notification to make Sohail Ahmed an OSD was not correct. Earlier, AG also told the court that he was not able to contact Prime Minister Yousuf Raza Gilani over the relegation of
Sohail Ahmed from the post of establishment secretary to a sinecure post of 'officer on special duty'. Sohail Ahmed has been punished for obeying the court's orders to transfer Hussain Asghar, the IG of GilgitBaltistan, back to the FIA to enable him to resume investigation into the unprecedented mismanagement in last year's Hajj operations. The move angered the government because the secretary did not seek the Prime
Minister's approval. During the hearing of the case, Attorney General Maulvi Anwarul Haq told the Supreme Court that the government of Gilgit-Baltistan has refused to relieve Hussain Asghar from his position of Inspector General of the region. Chief Justice Iftikhar Mohammad Chaudhry inquired of Haq if the transfer of Mr Asghar was legal and constitutional. Isn't simple issue being See # 7 Page 7
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Saturday, July 30, 2011
Tanners hail ban on livestock export Demand check on animals’ smuggling TFD Report KARACHI: Chairman Pakistan Tanners Association (PTA) Khurshid Alam in a press statement issued today hailed the decision of the government of Pakistan for imposing complete ban on export of live animals from Pakistan, which was being demanded persistently by PTA. The Chairman, PTA Khurshid Alam also informed in a press statement that a ban on export of live animals from Pakistan would certainly
Glamorous coverage irks Hina LAHORE: She might have captured the fancy of Indian media with her pre-
bring positive impact specially to reduce the meat prices in Pakistan, which is already exorbitant for the peoples of Pakistan in general. This step would also help mitigate scarcity being confronted by the leather industry for procuring the basic raw materials i.e. hides and skins. The ban imposed by the government of Pakistan was the dire need of the leather industry to cater to the needs of basic raw materials (hides & skins) for PTA's country wide members for meeting the
ment of Pakistan, Pakistan Customs, Ministry of Commerce and other concerned securities and vigilance agencies of the government to take immediate and stern action on smuggling of live animals from Pakistan, where approximately 200,000 animals are being smuggled on monthly basis to Iran and Afghanistan, which is also one of the reasons of increase in meat prices in Pakistan apart from nonavailability of sufficient quantity of hides and skins to meet the domestic demand of leather industry.
Thai traders team visits TDAP
Pak-Thai trade options discussed TFD Report
cious South Sea pearls, Roberto Cavalli shades and Birkin bag, but Pakistan's youngest foreign minister Hina Rabbani Khar is not pleased by her depiction as a ''fashion icon''. Hina, Pakistan's first woman foreign minister who returned to Pakistan last evening after a visit to India for talks with her counterpart S M Krishna, reacted angrily to questions pertaining to coverage of her fashion style in leading Indian dailies. "You see paparazzi are everywhere. Besides, you (referring to media) should not do such acts," Hina said, replying to a question at the Lahore airport on her arrival from India, reported an Indian news channel. So irked was she at the question that she refused to take any more questions and left for Islamabad. During her visit to New Delhi, she was the talk of the town, with the media closely following her fashion accessories. Such was the focus that even The Wall Street Journal too carried a story on the Indian media's reporting of Khar's fashion style. "From her blue tunic pants ensemble to her Roberto Cavalli shades, everything grabbed Indian eyeballs, with media coverage of her accessories practically overshadowing the India-Pakistan dialogue," the Journal said. - Online
export demands for timely execution of export orders, which were in jeopardy owing to the lack of basic raw materials. Chairman, PTA thanked the government of Pakistan specially to the Ministry of Commerce, Government of Pakistan and all government's concerned quarters for their initiatives for imposing a ban on export of live animals from Pakistan for the supreme national interest. The Chairman PTA also appealed to the govern-
KARACHI: A ninemember delegation from Thailand, led by Minister, Department of South Asian, Middle East and African Affairs Nat Pinyo WattanaCheep, visited Trade Development Authority of Pakistan (TDAP) on 28th July 2011. The delegation comprised of delegates from Thai Chamber of Commerce, Federation of Thai Industries, Board of Investment, Statistics and Research Bureau and MOFA. Secretary TDAP and TDAP's officers were present in the meeting. Consul General and Arif Suleman, Honorary Trade Advisor, Consulate General of Thailand, Karachi were also present in the meeting. Secretary TDAP Javed Anwar Khan while welcoming the delegates briefed them about bilateral trade between Pakistan and Thailand. Secretary TDAP identified textiles, fruits and vegetables, sea food, gems and jewelry as potential sectors for joint ventures between
the two countries. He informed the delegation about TDAP's plans for opening a gems and jewellery facility in the vicinity of Karachi airport and asked for technical cooperation from Thailand. He informed that at present Thai government has imposed ban on export of fruits and vegetables from Pakistan however, as Pakistan is following all phyto sanitary standards and many South East countries like Indonesia and Malaysia have allowed imports of fruits and vegetables from Pakistan. China and Iran have also lifted restriction on the import of mango and kinnow export from Pakistan. Recently, Japan and USA have allowed import of mangoes from Pakistan. He requested Thai side to send an inspection team to Pakistan to personally inspect the processing unit and orchid of fresh fruits. Secretary TDAP also extended invitation to the leader of delegation to send a high profile delegation of Thai businessmen during Expo Pakistan. TDAP will provide logistic support and hospitality.
Minister Department of South Asian, Middle East and African Affairs Nat appreciated the warm welcome by TDAP and informed that Thai government attaches great importance for enhancing trade with Pakistan. He assured that their concerned departments will extend technical cooperation to Pakistan in many fields including gems and jewellery, seafood, alternative energy solutions The members of delegation further informed that there is a vast potential for enhancing trade between Pakistan and Thailand which can increase to $2 billion in the next 3 years if concerted efforts are put in on both sides. Representative from federation of Thai industries informed that in Thailand, associations have 40 different sectoral groups and Pakistan's sectoral associations should develop linkages with these groups for value addition, joint ventures, technology transfer & cooperation. At the end, the Secretary TDAP thanked the delegates for their visit to TDAP.
SATURDAY Time Programmes 7:00 8:00 9:05 11:05 12:00 13:05 14:00 14:05 15:00 16:00 17:30 18:00 19:05 20:03 21:00 22:03 23:00 23:05
News News Subah Savere Maya Kay Sath News Beat (Rpt) News Crime Week (Rpt) News Meri Kahani Meri Zabani (Rpt) News News Samaa Metro News Zer-e-Bahas Newsbeat News Faisla Aap Ka News Interrogation
Mobilink, Shell declare lucky draw winners LAHORE: Mobilink and Shell Pakistan Ltd Friday jointly announced the winners of the 6th to 9th lucky draws for their joint promotional campaign which offered its respective customers a chance to participate and win a multitude of prizes. In the ceremony 4 tractors and 40 motorcycles were given away via the lucky draws. Basharat Ali from Mohalla Millat Town, Hafizabad, who won one of the tractors under the Shell Rimula-Jazz campaign commented: "I am still unable to believe that I won a tractor. Thank you Mobilink and Shell for this great prize''. Akramullah from Ghoriwala Bannu expressed his happiness: "I am extremely delighted and thankful to Shell Pakistan and Mobilink that through this campaign I have become owner of a brand new tractor. This is indeed a dream come true". The winners of the 4 brand new tractors in the lucky draw were Basharat Ali from Mohalla Millat Town, Hafizabad; Akramullah from Ghoriwala Bannu; Imtiaz Hussain from Lodhran and Aatir Ghani from Zila Gujranwala; while 40 others were also given motorcycles. The winners were announced at a colorful ceremony held at alocal Restaurant in Lahore and were attended by officials from both companies. The ceremony marked the end of the Shell RimulaMobilink joint campaign. NNI
PTCL champions EVO services
KARACHI: Adamjee Life and RMS senior management at the launch ceremony of Invest & Secure.-Staff Photo
TV PROGRAMMES
ISLAMABAD: Chinese Ambassador HE Liu Jian presenting a cheque of Rs 2 million to chairperson Benazir Income Support Programme (BISP) Farzana Raja for BISP beneficiary families, here in BISP Secretariat.-Staff Photo
Adamajee celebrates launch of saving plan TFD Report KARACHI: Adamjee Life Assurance Co Ltd. and Risk Management Services (RMS) recently held a small ceremony to celebrate the official launch of the investment/ saving plan "Invest & Secure". With this collaboration RMS will act as an exclusive distributor of various life insurance products underwritten by Adamjee Life.
The objective behind the venture is to increase the penetration of individual life investment/ saving insurance plans to the masses that cannot be reached through channels with limited reach such as banks. On the occasion Fredrik de beer (CEO Adamjee Life) said that life insurance penetration should be much more than what it is in Pakistan due to numer-
ous bad practices being followed in the industry. He said that life plans should be developed with customers' needs and future prosperity as the focal Objective. Behram Mana CEO RMS highlighted the increasing demand of child education and marriage plans and requested that more insurance policies should be developed keeping in mind these particular needs.
ISLAMABAD: Pakistan Te l e c o m m u n i c a t i o n Company Limited (PTCL) brings an exciting EVO WiFi Cloud offer for its customers. The customers can now get a new EVO Wi-Fi cloud with two months unlimited internet access and enjoy the third month's usage absolutely free. EVO Wi-Fi Cloud is Pakistan's first intelligent mobile Wi-Fi device that puts the world of content, services and connectivity in the palm of the user's hand. It is a smart 3G enabled sleek & attractive Wi-Fi device that intelligently converts a user's home or work's space into a personalized Mobile Wi-Fi zone, just on the push of a button. The dual capabilities of EVDO & Wi-Fi lets EVO Cloud's users enjoy the functionalities of a modem, router and an access point in a single pocket fit sized device which is powerful enough to provide internet to five Wi-Fi enabled gadgets simultaneously. - Online
China contributes Rs2mn in BISP TFD Report I S L A M A B A D : Chairperson Benazir Income Support Programme (BISP) Farzana Raja has said that Pak-China friendship is time-tested and the mutual cooperation between both the countries in various fields especially in social sector will be enhanced further with the passage of time. She said this while talking to Chinese Ambassador to Pakistan HE Liu Jian here at BISP Secretariat Thursday.
Farzana Raja informed the visiting ambassador about the details of the various steps taken by BISP and said that the programme has successfully been able to bring revolutionary changes in the lives of more than 4 million beneficiary families of BISP. Chinese ambassador HE Liu Jian appreciated the performance of BISP and termed it as a very effective initiative in the social sector of the country. On this occasion, the ambassador presented a cheque of Rs2 million for the registered beneficiary
families of BISP, on the behalf of Chinese embassy in Pakistan. Furthermore, he also extended an invitation to Farzana Raja to visit China. While appreciating the support of Chinese embassy, Chairperson BISP accepted the invitation and said that she would visit China in the near future. Farzana Raja, during her visit to China, would meet the potential donors both from the public and the private sector of the neighboring country.
Lucky ICCI stresses Cement to set up school in innovation to Lakki Marwat boost exports TFD Report
ISLAMABAD: Pakistan has great potential to significantly enhance its exports through value-added products. Government should gear up its efforts to enhance non-traditional exports by requiring latest technology and machinery. This was observed by Mahfooz Elahi, President, Islamabad Chamber of Commerce and Industry in a statement. He said over the years, the country has focused on expanding its manufacturing base to raise exports. Now, this is the time to focus on non-traditional export path for a rapid and sustainable economic development. He said that Pakistan could earn much higher foreign exchange earnings by adding value to its textile and industrial products as the unit price realization for value-added products was far higher than that for low value-added products. ICCI President said that only UAE and other Muslim countries offer tremendous opportunities of increasing export of value added food products. But for making possible fast growth of exports and realizing the dream of import substation, Pakistan would have to introduce value-addition at all levels. He said that our country cannot afford to miss its export growth targets this year or continue to delay import substitution because that would weaken its external sec-
tor and make it more dependent on external debt, which would prove harmful in the long term for the economy. Mahfooz Elahi said that Pakistan's exports of textiles remained mostly concentrated on low value-added products despite a rising share of higher value added textile products in global trade. Therefore, he called upon the government to support textile industry in moving up the value chain and increasing the share of high value added garments and made-ups in its export portfolio. He said apart from textiles, there was a vast scope for value-addition in almost every industry including leather, plastic, food industries and those with export potential while value-addition in construction and engineering industry could earn huge amounts of foreign exchange. But to realize all these benefits, he stressed that government should provide easy loaning facility to industries along with facilitating them in free import of required technology & machinery which would enable Pakistan to grab its due share of exports in international market. He said that by emphasizing on non-traditional export path, industries could not only give a hefty boost to their exports, they could also cater the growing domestic demand for sophisticated goods. - Online
KARACHI: Lucky Cement has planned to construct a world-class primary school, near its factory in Pezu, District Lakki Marwat, in partnership with a renowned NGO, chartered by the Government of Pakistan and endorsed by the World Bank. This school will be affiliated with Pakistan's wellknown school system and will provide quality education to the children of the area. In first phase, the company will establish a primary school, which will later be upgraded to secondary education. Apart from this project, Lucky Cement is continuously striving to uplift the living standards of people by providing regular funds to 16-bed, Women and Children Hospital (WCH) Ghazni Khel, Khyber Pakhtunkhwa (KPK) and is also running a well-managed dispensary, at the Pezu Plant site for providing medical facilities and treatment to the patients at highly subsidized rates. Lucky cement has also laid down a 9 Km long water supply line providing clean drinking water facility to around 2,000 households in the rural localities situated in Darra Pezu town and a wellmaintained primary school, up to class five, for the children of the factory workers.
KARACHI: Deputy Commissioner and Administrator District Central Matanat Ali Khan visiting the Public School and College of Sir Syed Town. - Staff Photo
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Saturday, July 30, 2011
Oil declines near $116 after weak US data US Q2 GDP lower than expected; Chicago PMI also weak LONDON: Oil fell on Friday following weak US economic data, and as investors and traders awaited a resolution to the debt situation in the United States, which is still deadlocked ahead of the Aug. 2 deadline to raise the US debt ceiling. At 1352 GMT, Brent crude was down $1.17 to $116.19 a barrel and US crude was down $1.97 to $95.47 a barrel after data showing the US economy grew less than expected in the second quarter. An estimate showed gross domestic product (GDP) growing at just 1.3 per cent in the world's largest economy, missing forecasts for 1.8 per cent growth as high gasoline prices weighed on consumer spending. "The inflation and government components were highly negative," said John Kilduff, a partner at Again Capital in New York. "This diminishes the economic outlook and will weigh on the demand outlook for energy and prices." Chicago PMI data, which measures business activity in the US Midwest, was also weak, missing consensus forecasts. Tom Bentz, director at BNP Commodity Futures in New
Aussie, NZ dlr in holding pattern amid debt uncertainty WELLINGTON/SYDNEY: The New Zealand and Australian dollars consolidated recent gains on Friday as fears about the euro-zone's debt woes were rekindled and investors awaited developments on US debt talks. The Aussie around $1.1000 against Thursday's late local level at $1.1059. It ranged $1.0976 to $1.1076 overnight, during which the US dollar made modest gains but investors remained cautious. Aussie seen supported at $1.0950 before major support at $1.0890, with resistance at $1.1050 and then the 29-year high of $1.1081. The kiwi dollar in a holding pattern around $0.8700, ranging between $0.8691 and $0.8755 overnight. Support seen at $0.8678 and then $0.8640 with the 30-year high of $0.8766 the first hurdle higher. US data provides some cheer with the number of Americans claiming new unemployment benefits dropping last week, while pending sales of existing US homes unexpectedly rises. But US dollar sentiment is fragile and dependent on a deal on raising the federal debt ceiling and cutting the deficit. The Swiss franc hits a record high against the dollar of 0.79900 franc on trading platform EBS, but the dollar gains against a basket of major currencies. The central bank interest rate outlook for Australia and New Zealand offers support for the Antipodean currencies. Rate rises are definitely on the New Zealand horizon after the Reserve Bank of New Zealand flagged a rate hike in the near future as the economy gathers pace and inflation pressures rise. The Reserve Bank of Australia (RBA) is seen in a more tricky position after it recently said it would be prudent to wait a while before hiking, but then unexpectedly high Australian data has changed expectations. Financial market pricing now implies only a one-in-5 chance of an Australian hike next week. Oddly, it still has 18 basis points of easing for the next 12 months, though that is down from 40 basis points earlier in the week. Next week sees New Zealand wages and jobs data, while Australia, in addition to the interest rate call on Tuesday has retail sales and trade. -Reuters
York, added that markets had been under pressure for the last few days as the US debt talks stall. He described the market as "technically weak" and said the GDP figures were "more bad news". US President Barack Obama will issue a statement on the status of the debt ceiling negotiations at 1420 GMT. Infighting within the Republican party has prevented them reaching a compromise with the Democrats. "It seems like a deal can only be done at the last minute," said ThorbjornBak Jensen, an oil analyst at Global Risk Management. "But I think it will be done because not reaching a deal would be very expensive for the public and if that's the case you don't win the next election." The head of the IMF and top officials at US banks have warned that a failure to raise the debt limit by the deadline could trigger a payments crunch that would shake the global financial system, cause the dollar to decline and tip the United States back into recession. Analysts such as Carsten Fritsch at Commerzbank expect investors and traders to sit on the sidelines today
because of the ongoing wrangling over the US debt ceiling. This makes prices more vulnerable to erratic moves. In Europe, ratings agency Moody's placed the Aa2 rating of Spain on review for a downgrade, due to concerns over the sovereign's rising funding cost. Bak Jensen said the move was significant for the markets: "Spain is a big country. Greece is a small country - we can bail them out, but Spain is another story." On Thursday, crude prices edged up after producers reduced oil and natural gas output in the Gulf of Mexico as Tropical Storm Don headed northwest toward the Texas coast. But only about 7 per cent of US Gulf of Mexico crude output has been cut according to government data, and analysts believe the storm's relative weakness and position in the Gulf of Mexico make it unlikely to cause prolonged production outages or energy infrastructure damage. "Oil markets are watching Tropical Storm Don but it is not expected to be a major weather event, missing most petroleum infrastructure," said Bentz. -Reuters
Debt woes mar Asian FX gains; view still bullish SINGAPORE: The South Korean won eased for the week, while its peers recorded smaller weekly gains than before, weighed by worries of the sovereign crises in the US and eurozone and on intervention by foreign exchange authorities. Interbank speculators and some model funds on Friday covered dollar-short positions further as some fiscally hardline Republican blocked a budget deficit plan proposed by their own congressional leaders, boosting worries about a disastrous US default. The position adjustments accelerated in afternoon trade after Moody's Investors Service put the Spanish government's bond ratings on review for a possible downgrade. Sustained concerns over fiscal problems in the major developed markets may rattle emerging Asian currencies next week, especially around Aug. 2, the deadline to avoid a US default, analysts and dealers said. But emerging Asian currencies are expected to find support and stay on a bullish trend as central bank fight imported inflation and on their relative fiscal strength of their economies, they added. Reflecting the views, big funds did not appear to reduce exposure in the regional currencies, dealers and analysts said. The won fell 0.2 per cent versus the dollar for the week after rising 0.6 per cent in the prior week, with dealers citing intervention by South Korean foreign exchange authorities to defend 1,050 per dollar. The Singapore dollar, which had hit record high almost every day since mid-July, has risen 0.3 per cent against the US dollar
this week after 0.9 per cent last week. Monetary Authority of Singapore was also seen buying greenbacks to defend the citystate currency of 1.2000 per US dollar, dealers said. Standard Chartered lowered its forecasts for dollar/rupiah on the central bank's hawkish stance and saying slower economic growth appears to be largely priced in while inflation expectation may peak soon. Despite bullish views on emerging Asian currencies, some analysts and dealers warned of more short-term corrections, especially in case of a US debt deal. The ringgit weaken past a support line as interbank speculators covered dollar short positions. Dollar/ringgit rose above 2.9600, the dealt low of Apr 28, which had been a support. Once the level was broken on Tuesday, the pair had been under the line despite short-covers. The Singapore dollar also suffered from US dollar short covering. The city-state currency may under more pressure next week on caution over fiscal crises in the United States and the eurozone, dealers said. The won eased as some model funds covered dollar-short positions and on fixing-related dollar demand, dealers said. But the South Korean currency found relief from exporters' demand for end-month settlements, dealers said. Market players continue to expect the won to strengthen further, but it may stay weaker than 1,050 per dollar in a near term as all investors are keeping an eye on the US debt talks. -Reuters
NY cotton finishes down on profit-taking NEW YORK: Cotton futures settled lower Thursday onprofit-taking and investor sales to end a brief surge over the last twosessions, with players keeping an eye on the unresolved US debt crisis,analysts said. The key December cotton futures on ICE Futures US fell 1.04cents to finish at $1.0257 per lb, trading from $1.0065 to $1.0365. Since hitting a session low of 93.20 cents on Tuesday, cotton shot upby over 12 per cent to hit a Wednesday peak at $1.0444, its highest sincegapping lower on July 14 and 15. Total market volume Thursday hit almost 8,400 lots at 1745 GMT, about 50 per cent below the 30-day norm, Thomson Reuterspreliminary data showed. Traders said investors who
made money on the market for the month optedto cash in their gains ahead of the last trading day of July. Many players awaited news on whether the US will be able to stave offa default on its obligations on Aug. 2 if Congress approves a law to raise the country's debt ceiling. Traders said they were monitoring tropical storm Don as it moved northwestward toward the Texas coast. Volume traded Wednesday came to 16,710 lots, against the Tuesday total of 20,136 lots, which is the highest since July 18, ICE Futures US data showed. Open interest stood at 142,285 lots as of July 27, the highest level since June 21, according to exchange data. Reuters
Indian sugar rises on festival demand MUMBAI: India's sugar futures rose on Friday on an improvement in demand due to upcoming festivals and monthly household demand, dealers and analysts said. The most active August sugar on the National Commodity and Derivatives Exchange ended up 1.8 per cent at 2,770 rupees per 100 kg. In Kolhapur, a key market in top producer Maharashtra, the most traded S-variety rose 1 per cent to 2,700 rupees ($61.09) per 100 kg. "Demand is there due to festivals. Market is waiting for nonlevy quota for August. The quota will set the trend," said Ashok Jain, president, Bombay Sugar Merchants Association. Non-levy, or free-sale sugar, is sold by millers in the open market, but the quantity each mill can sell is fixed by the federal government on a monthly basis. India, the world's top consumer and the biggest producer after Brazil, should churn out 24.2 million tonnes in the current 2010/11 season and output may jump to 26.5 million tonnes in 2011/12, higher than the country's estimated consumption of around 22 million tonnes, estimates the industry. India can export 3 million tonnes of the sweetener in the 2011/12 season beginning October as it is likely to produce a surplus for the second year in a row, a senior official from trade house ED & F Man said on July 21. -Reuters
Sterling rises to 7-wk high vs broadly weak dlr LONDON: Sterling rose to a seven-week high against a broadly weaker dollar on Friday after data showed tepid US growth while talks in Washington on a deal to raise the debt ceiling before an Aug. 2 deadline remained deadlocked. The pound's gains versus the dollar mirrored those by the euro, which recovered from earlier falls after Moody's threatened to cut Spain's credit rating and the country's prime minister called early elections. Sterling reversed falls earlier in the day, rising 0.6 per cent against the dollar to $1.6471, just below the June 7 high of $1.6474, with some traders also citing talk of month-end dollar selling. Concerns about debt crises on both sides of the Atlantic continued to draw investors away from riskier assets, however, pushing sterling to a record low versus the safe-haven Swiss franc of around 1.2902 francs. Sentiment towards the pound was expected to remain hampered by a fragile UK economy which is likely to keep interest rates at record lows for a prolonged period. "Until the market gets really short of sterling there's no great reason to buy it as it has no yield and the figures out of the UK are not great," said Lee McDarby, head of dealing for corporate and institutional treasury at Investec. He added that if the US finally seals a deal on raising the debt ceiling the dollar could rally -- as the euro did after euro-zone leaders agreed on a second Greek bailout package - potentially pulling sterling below $1.60. Figures earlier showed the US economy stumbled in the first half of 2011 and came dangerously close to contracting in the January-March period, raising the risk of a recession if the debt standoff does not end quickly. With four days remaining until the United States hits its debt limit, President Barack Obama on Friday urged divided Republicans and Democrats to reach an agreement. The euro dipped 0.1 per cent to 87.41 pence, staying below its 100-day moving average around 88.18 pence. But UK data has been lacklustre of late, with figures on Friday showing Britons are reluctant to borrow while consumer confidence slumped this month, fuelling concerns that weak spending will continue to hamper the economic recovery. -Reuters
Dollar slumps vs swiss franc, yen on GDP & debt woes No breakthrough in US debt talks, vote pushed back NEW YORK: The dollar tumbled to all-time lows against the Swiss franc and four-month troughs versus the yen on Friday as data showing lackluster US growth and debt worries on both sides of the Atlantic prompted investors to seek refuge in traditional safe havens. The greenback, however, gained against commoditylinked currencies such as the Australian, Canadian and New Zealand dollars, which typically struggle when there is heightened risk aversion. Gains in the US dollar, Swiss franc and yen accelerated after data was released showing the US economy grew at a 1.3per cent annual rate in the second quarter, well below the expected 1.8 per cent pace. First-quarter growth was also revised sharply lower, to 0.3 per cent from 1.9 per cent. "We are in a selective risk-off environment, with the Swiss franc and yen gaining," said
John McCarthy, director of foreign exchange at ING Capital Markets in New York. "The GDP numbers were very much the catalyst this morning and we saw aggressive moves in the dollar/Swiss franc and dollar/yen." In midday New York trading, the dollar fell to record lows of 0.78530 franc on trading platform EBS and was last at0.78780, down 1.7 per cent on the day. On the week, the dollar fell 3.1 per cent and 6.3 per cent in July, its worst monthly showing since December 2010. The euro slid to record lows against the Swiss unit as well, to 1.12970 francs. It last traded at 1.13180 francs, down1.5 per cent. The euro on the week fell 3.4 per cent and 7.0per cent this month, its worst monthly performance since June last year. The dollar was down 0.8 per cent against the yen at 77.180yen, having fallen to 77.010 on trading platform EBS,
Indian rupee soars for 2nd straight mth MUMBAI: The Indian rupee fell on Friday dragged by euro's slide as worries over euro-zone debt resurfaced, but the local unit managed to post a second consecutive month of gains as inflows stayed robust. The Reserve Bank of India's hefty rate increase on Tuesday further improved the outlook of foreign inflows into local financial markets, especially bonds, and also helped the rupee to post a week-on-week rise, traders said. The partially convertible rupee ended at 44.1850/1950 per dollar, 0.3 per cent weaker than Thursday's close 44.07/08, but on weekly basis the local currency rose 0.4 per cent. Foreign funds have bought about $2.5 billion of local shares since June while in the current month, they invested $517 million in debt securities. The rupee also staved off big
losses in the session as outlook on the dollar remained bleak given the deadlock on the US debt ceiling talks. "The rupee has been helped to great extent by the Reserve Bank of India's rate hike, but now the US debt ceiling deadline on August 2 is a major factor," said Ashtosh Raina, head of foreign exchange trade at HDFC Bank. The was at $1.4257 after touching $1.4363, compared with $1.4289 at close of domestic currency market on Thursday. Intraday, the rupee saw selling pressure due to local oil refiners dollar demand for import payments and volatile domestic equity market. The one-month onshore forward premium was at 24 points from 24.75 on Thursday, while the three-month was at 72.25 points from 73.75 and the oneyear was at 240 points from 243.50. -Reuters
Palm oil falls on US debt worries, high stocks KUALA LUMPUR: Malaysian palm oil futures fell on Friday, but ended the month up almost 1 9 per cent, on concerns that the United States may not meet an Aug. 2 deadline to raise its debt limit, hitting global economic growth. A possible US sovereign credit rating downgrade if the deadline is missed has weighed on financial markets, adding to weak sentiment in palm oil futures which had posted it first weekly drop in four. Favourable crop weather in the US grain-growing areas, as well as high palm oil stocks in Malaysia and Indonesia also weighed on the market. "The markets are choppy and traders are keenly watching the economic scenario in the light of the US debt crisis," said a trader with a foreign commodities brokerage in Malaysia. "Fundamentally, palm oil stocks are going to remain high
despite solid exports and talk of a small slowdown in production in August," the trader added. The benchmark October contract on the Bursa Malaysia Derivatives Exchange fell 0.6 per cent or 20 ringgit to 3,096 ringgit ($1,050.) per tonne after going as low as 3,080 ringgit -- a level unseen since July 19. Traded volumes fell to 22,365 lots of 25 tonnes each, compared to the usual 25,000 lots, as investors remained cautious. Reuters analyst Wang Tao said Malaysian palm oil was temporarily neutral in a range of 3,083 to 3,138 ringgit per tonne. US soyoil for August delivery rose 0.2 per cent on Thursday with improved China demand for soybeans although favourable weather in the United States capped gains. The most active May 2012 soyoil on China's Dalian Commodity Exchange fell half per cent. -Reuters
the lowest level since coordinated intervention to weaken the Japanese currency in midMarch. The greenback lost 1.3 per cent this week and 4.2 per cent for the month of July, its weakest level since December 2008. Japanese Finance Minister Yoshihiko Noda warned about the strong yen, saying he would consider how long Japan could ignore current exchange rate moves without acting. Expectations of possible intervention and position-squaring ahead of the weekend prevented a further rise in the yen. The record low for dollar/yen was 76.250. US authorities appeared as far as ever from reaching acrossparty compromise to raise the $14.3 trillion US debt ceiling, while euro-zone concerns grew on talk Greece might miss its next loan tranche payment and a Moody's warning that it might downgrade Spain. -Reuters
Yuan closes higher; gains 0.4pc in July SHANGHAI: The yuan hit a record high against the dollar on Friday even after the Chinese central bank set a weaker mid-point as traders said banks' clients were bidding for large amounts of yuan to meet month-end requirements, on expectations of a weak dollar. Traders said spot yuan could be led higher for now by some large corporate client purchases around the month-end, but strength in the Chinese currency was not necessarily a reflection of a firming trend. "These two days, spot yuan is largely trading in tandem with client demand," said a dealer at a Chinese bank in Shenzhen. "And we will also focus on the trend in global currencies." Spot yuan hit at a record high of 6.4365 and closed at 6.4366, stronger than Thursday's 6.4428. It has now appreciated 6.05 per cent since it was depegged from the dollar in June 2010 and 2.38 per cent so far this year. In nominal terms, the yuan has risen 0.4 per cent in July, higher than June and May's 0.2 per cent, respectively. Before trade began the PBOC fixed the yuan's mid-point at 6.4442 against the dollar, weaker than the previous day's 6.4438. Market forecasts for yuan appreciation are likely to be tempered, estimated by some to be around 2 per cent versus the dollar in the second half of this year, bringing gains for the year as a whole to 4 per cent. That would compare with a 5-6 per cent rise forecast by most dealers early this year. Offshore, benchmark one-year dollar/yuan non-deliverable forwards (NDFs) were bid at 6.3800 late on Friday, up slightly from 6.3770 at the previous day's close. Their implied yuanappreciation in a year's time fell slightly to 1.00 per cent from 1.05 per cent. -Reuters
Gold jumps to record high on feeble US count LONDON: Gold hit record highs on Friday after weak economic growth data from the United States raised the prospect of further monetary easing and a weaker dollar,while the impasse over the country's debt ceiling reinforced positive sentiment. Spot gold touched an all-time peak of $1,632.16 a troy ounce, a gain of about 8 per cent so far this week and 14.3per cent so far this year. It was bid at $1,628.80 a troy ounce by 1401 GMT, up 0.8per cent from $1,616.35 an ounce late in New York on Thursday. The latest trigger came from data showing the US economy grew less than expected in the second quarter while growth in the previous quarter was sharply revised lower. "It was quite a bad release and it raises hopes that there will be more monetary easing
in the form of quantitative easing and that's positive for gold as an investment asset," said Matthew Turner, precious metals analyst at Mitsubishi. More signs of weak growth came from a release showing business activity in the US Midwest grew less than expected in Jury. Further easing would hit the dollar, which when it falls,makes commodities cheaper for holders of other currencies. Loose monetary policy in the United States in recent years has weighed on the dollar and boosted gold, which investors also use as a hedge against inflation and political and economic uncertainty -a dominant theme in markets at the moment. Focus was also on debt talks in the United States, where Republican leaders were scrambling to rescue their budget deficit-cutting plan
after conservatives mounted a rebellion that heaped uncertainty on efforts to avert a catastrophic debt default. Debt troubles in the eurozone were also on investors' radar screens, after ratings agency Moody's put Spain on review for possible downgrade, raising fears of an escalation of the debt crisis in the region's peripheral economies. Investor unease can be seen in the holdings of the world's largest gold-backed exchangetraded fund, SPDR Gold Trust,which rose 1.5 per cent on Thursday from a day earlier to asix-month high of 1,262.98 tonnes by July 28. Labour strife in South Africa was closely watched by the market, with gold mine workers and the major producers scheduled to meet on Friday for talks aimed at ending a strike. -Reuters
4 Saturday, July 30, 2011
The Financial Daily International
Earth carrying load of seven billion people
Vol 4, Issue 264
Publisher & Editor-in-Chief: Amir A. Ashary Editor: Shakil H. Jafri Executive Editor: Manzar Naqvi Honorary Advisory Board Haseeb Khan, FCA
S. Muneer Hussain Rizvi
Asim Abbas Ashary, CPA
Khurram Shehzad, CFA
Akhtar M. Zaidi, FCA
Prof. Zakaria Sajid (KU)
Dr. A. Hadi Shahid, FCA
Zahid Bukhari SVP HBL (retd)
Muhammad Arif
Ismat Sabir Head office
111-C, Jami Commercial Street 11, Phase VII, DHA Karachi Telephone: 92-21-35311893-6 Fax: 92-21-35388428 URL: www.thefinancialdaily.com Email Address: editor@thefinancialdaily.com
Lahore office 24- Peshawar Block, Fortress Stadium, Lahore Telephone: 92-42-6675595 Fax: 92-42-6664349 Email Address: editor@thefinancialdaily.com
MPS anybody’s guess The State Bank of Pakistan is issuing Monetary Policy Statement (MPS) today. Experts are divided into three groups: 1) favouring hike in interest rate, 2) suggesting hold and 3) insisting on reducing the rate, terming enough is enough. As such keeping interest rate high has not helped in containing inflation rate but has certainly jacked up debt servicing of the government and left hardly any funds for the private. The rates offered by the government treasury bills are too attractive for the banks, especially because no risk is involved. Some of the experts say that even if the interest rate is reduced to half it can't lure investors simply because of the extensive load shedding of electricity and gas. Persistent hike in tariffs is on top of this. If the existing manufacturing facilities are operating at dismally low capacity utilization no entrepreneur would be keen in creating new manufacturing facilities. Since early 2010 India has been increasing interest rate with regular intervals, though increases are too small. This provides an opportunity to the propagators of hike in interest rate to say Pakistan should also follow the same practice. However, these experts completely ignore the harsh reality that the economies of the two countries are not similar. The policy that yields positive results can prove disastrous for Pakistan. In fact excessive borrowing by the government is not only having adverse impact on the economy but also annoying the multilateral financial institutions; the most offended being the International Monetary Fund (IMF). The prospects of getting the withheld tranches have reduced to zero but those thinking of negotiating another standby arrangement are hoping against the hope. The lavish spending by the government, besides withholding of two tranches by the IMF, has also led to resignation of a finance minister and two governors of the central bank. However, it seems that the rulers do not realise gravity of the situation. Taking the pleas that enough funds are not available, allocations for public sector development programme (PSDP), health, education and rehabilitation of flood affectees have been curtailed. The ultimate result is most of the development works are either delayed or abandoned. Market is expecting reduction is discount rate and one of the evidences is bullish sentiments which led to a gain of over 90 points on Friday. However, the growing consensus is that most probably there will be no change in the discount arte. The central bank may still be under pressure to increase the discount rate. Some experts say interest rate has become of no consequence because of the ongoing load shedding of electricity and gas and precarious law and order situation in Karachi, the hub of industrial and commercial activities of Pakistan.
Disclaimer:
All reports and recommendations have been prepared for your information only. Summary and Analysis are not recommendation to buy or sell. This information should only be used by investors who are aware of the risk inherent in securities trading. The facts, information, data, indicators and charts presented have been obtained from sources believed to be reliable, but their accuracy and completeness cannot be guaranteed. The Financial Daily International and its employees are not responsible for any loss arising from use of these reports and recommendations.
Zahid Bukhari
L
iving humans on Earth have almost reached to lucky and giant figure of 7 billion. It is estimated that presently there are 6.93 billion and during the month of October this year the number will kick off the 7 billion actions campaign. The great interest was shown on 11th January 1987 the day population touched 5 billion, caved to the establishment of World Population Day as an annual event. During the last 20 years, 11 July has been an occasion to mark the significance of population trends and related issues. Even with 7 billion human on mother earth, people are living longer and healthier lives, but only in advance and developed countries, while majority of population lives in under developed and poverty stricken countries. Couples in develop countries, with almost 100 per cent educated people chose fewer children. On the other hand in countries with high illiteracy having orthodox thinking and ruled by fanatic religionists, in there the birth rate is very high while people live shorter lives. When families are smaller its members are stronger and when families are having seven to eight children its members mostly are less educated having weaker and shorter lives. When humans are going to be seven billion on planet Earth, the region wise population stands as, in Asia more the 60 per cent of world population, Africa follows with one billion or 15 per cent of world population. Europe with 733 million people comes to 11 per cent of world population. Latin America along with Caribbean regions having 589 million people is 9 per cent of the total
human on Earth. North America is the home of 352 million people or 5 per cent of the world population and Oceania 35 million people or half a per cent of the population living on Earth. It is estimated that one hundred thousand years before the birth of Christ and till the beginning of agriculture the world population remained around a million, which depended upon hunting and naturally grown vegetation / fruits etc. Their life style was some what similar to animals. The total world population perhaps never exceeded 2 million till one of the greatest invention of agriculture on remote scale, witnessed the world. The sense of ownership also started with the beginning of agriculture, as i.e. my land, my cow or my women etc. With the beginning of agriculture the world population started to grow rapidly. But killer epidemics especially plague smallpox etc, wars and shortage of foods kept on reducing population to a large extent. With the all round advancement, inventions, increased sensibility and the mental brilliance of human kind, a revolution of betterment remained in progress though slowly but surely. Humans remained conquering all odds in their way for their own betterment. And this winning streak is still going on. The tremendous advancement in the fields of transportation and communication which began during 18th and 19th century changed the planet Earth into a village. During last five hundred years the world has experienced unprecedented progress in almost all fields including medicine, agriculture and industrial output. This mighty all over commandments of things gave a highly quick rise to the world population. It is estimated that the world population reached one billion in
1804, in 1927 it was 2 billion, three billion in 1960, four billion in 1974, five billion in 1987, six in 1999, and is going to be 7 billion in October 2011. It is projected that there will be 8 billion people on Earth by 2025 to 2030. The scientific have consensus that the current population expansion and accompanying increase in usage of resources are threats to the ecosystem. The inter academy Paul statement on population growth, which was ratified by 58 members National Academies in 1994 called the growth in human number unprecedented, and stated many environmental problems such as rising level of atmospheric carbon dioxide, global warming and pollution were aggravated by the population expansion. In the opinion of many authoritative personalities on population growth, it will be advisable to keep the birth rate to lower percentage artificially, which is called "population control". Population control through various means is in practice in majority of countries through out the world. The United Nation has been playing an important role in the matters of world population during the last 60 years. Human is an exciting and astonishing wonder among the living beings on Earth advancing and targeting new avenues in all directions. Human will reach to other planets to settle and by 2050 will die or live in this world with his / her own accord. Human will go on progressing in all directions and there is no limit to that. Pakistan with 187 million people is currently the 6th most populous country in the world and if no control measures are taken, it would be 5th most populous country in the world with in next decade. Government efforts to boost the economy and combat terrorism will not suc-
ceed, unless steps are taken to control the country's population growth rate which is one of the highest in the world. Family planning measures need to be integrated with other health program. At the time of independence, Pakistan ranked 14th in the world on the basis of population growth rate. The high growth rate, a poor education system, rising unemployment and a troubled economy posed grave risk to Pakistan's survival. The population growth situation is like a ticking "Bomb". The lack of education, social and cultural barriers which prevented women from taking decisions in family matters or even in any matter are the factors which contribute in rising population. Our provincial governments seem to be ignorant of adverse impact of high population growth rate. As such the federal government must show a sense of ownership and take the reins of family planning division in its own hands and plan things to show positive results. The examples in this respect of Bangladesh and Iran should be taken as a source of encouragement. We should take direct help from the family planning division of these two countries. Before or up to 1971 a Bangladeshi woman used to have 6 to 7 children but at present a women at an average gives birth 2 to 3 children, what a fantastic achievement. Similarly Iran is a conservative country having a great say of fanatic mullahs, but the Iranian government involved the orthodox mullahs in family planning division and are getting wonderful positive results. In Pakistan family planning is widely portrayed unIslamic, because of high level of illiteracy and street power of orthodox mullahs. These are the main hurdles in the success of family planning programme.
Politics twists oil route P
olitics have long skewed oil supply lines, but this year's confluence of events have bent the route from the well to the gas tank so far out of shape that West African oil is going to a refiner in Taiwan to make diesel for Brazilian truckers. It is politics that have sent Siberian oil is on its way to Peru in a hitherto unchartered trade route, and made it profitable for Belgian chocolatiers to run vans with Indianprocessed Colombian oil. Markets are stretching to reallocate supplies in the wake of four major events this year: Libya's civil war, rising Saudi output, the release of emergency oil stockpiles coordinated by the International Energy Agency and a payments dispute between India and Iran. "Geopolitical events have triggered crazy distortions of oil flows at a global level," said Tony Nunan, a risk manager with Tokyo-based Mitsubishi Corp., who joined the company in 1987. "The IEA release caused a secondary tsunami of unintended crude flows. In my career, I haven't seen anything like this." Oil markets are withstanding the most enduring supply shock since the 2003 Iraq War, the loss of 1.3 million barrels per day (bpd) of Libyan oil exports, while absorbing the release of IEA oil. Most of the crude in the release was sold in the United States, displacing its
more usual imports. US crude imports from West Africa that would have amounted to about 19 million barrels in August have been re-routed; Reuters calculations show, virtually halting shipments of Nigerian and Angolan crude to North America. Europe will receive as much as 40 million barrels of crude from West Africa in August, up from about 28 million in July. West African crude flows to Asia are also increasing after the IEA release improved arbitrage economics. "The increasingly active involvement by consumer governments has deepened the politicization of the oil market," said London-based Barclays Capital oil analyst Amrita Sen. "With the unrest in the Middle East and North Africa region this year proving to be a watershed of sorts, geopolitics is likely to play an even more important role in shaping the future of oil markets in the coming years." This means long-standing arbitrage strategies may be at risk and new ones are being formed, while producers, refiners and consumers must cope with growing market swings. Oil price volatility in the second quarter surged to its highest level in more than two years. Five large cargoes of Iraqi Basra Light crude, an unaccustomed guest in Europe, are heading to the continent in a rare development triggered by the IEA oil stocks release and a
strengthening of Russian crude values. FOUR CONTINENTS The increase in US shale oil production feeding into the landlocked Cushing hub in Oklahoma, the inauguration of a pipeline pumping 300,000 bpd of Siberian high-quality crude into northern China and Japan's earthquake have also been key factors in changing arbitrage flows this year. But the most intense reshuffling involves disruption-stricken Africa and Europe, top crude stockpile holder the United States, the world's top-producers in the Middle East and the fastest-growing market in China. Asia is key as an intermediary in the new pattern because of the surplus it holds in top grade refining capacity. Saudi Arabia has increased production of lower quality crude, which requireS more sophisticated processing to turn into fuels, partly compensating for the top-quality oil that Libya sent to European refiners. "There is a push-out process where refineries that can take Saudi crude have to ramp up, so the arbitrage isn't just crude, it has to go through the whole refining system," Nunan said. The rise in Mediterranean supplies following the IEA release is re-opening export opportunities to Asia, with high-quality Algerian crude sailing to Indonesia again. This marks a turnaround from the deficit of light and sweet crude
that prevailed in Europe for most of the first half of the year. As West and North African crude returns to Asia, it is freeing up Russian oil for export to the Americas. But with a saturated North American market after the IEA release, its usual destination, ESPO Blend crude pumped from East Siberia to the Pacific Ocean is looking for homes elsewhere. ESPO is traveling through the Malacca Straits and Suez Canal to the Mediterranean, traders said, and diagonally across the Pacific Ocean to South America, both unprecedented flows. And from the Americas to Asia, flows of lower-quality Colombian crude are increasing to India, which has the sophisticated refining capacity necessary to transform cheaper crude into high-value light oil products that are then shipped around the globe. INDIA VS IRAN India is also coping with the imminent suspension of shipments of Iranian crude. New Delhi has caved in to US pressure to ditch a long-standing mechanism for payment of oil imports from Iran, which stopped allocating crude to Indian refiners for August. At stake is a crude flow of 400,000 bpd between OPEC's secondlargest producer and Asia's third-largest consumer. But the US-led strategy to isolate Iran may be clashing against efforts to cap the oil price and safeguard a fragile
global economic recovery, said John Vautrain, director at Purvin & Gertz energy consultants in Singapore. "Now we've got this weird thing where at the same time we are trying to lower the price by releasing crude from emergency stockpiles, while we are doing things that could push it up by cutting flows," Vautrain said. "It seems like they (the US) have shot themselves in the foot again. If you manage to engineer a shortage, you are cutting supplies from a country and hurting the Indian and the world economies. It feels like a change of policy," Vautrain said, comparing it to a multiyear strategy to block Iran's gasoline imports. Top exporter Saudi Arabia's unilateral decision to increase production this year after OPEC's failed meeting in June enraged Iran, as it also came on the heels of the kingdom's military intervention to stave off a Shiia uprising in Bahrain, a move strongly condemned by the Islamic Republic. The Saudis this week approved sales of 3 million barrels of extra crude to India for August to make up for a loss of shipments from Iran. "If India is only the nose of the camel in the tent, and we have more countries cutting off purchases and throwing the Iranians onto China's lap, then that may force Iran to cut production," Vautrain said. Reuters
WEATHER DISASTERS PROVING COSTLY T
he United States is on a pace in 2011 to set a record for the cost of weather-related disasters and the trend is expected to worsen as climate change continues, officials and scientists said on Thursday. "The economic impact of severe weather events is only projected to grow," Senator Dick Durbin said at a hearing of the Senate Subcommittee on Financial Services and Government, which he chairs. "We are not prepared. Our weather events are getting worse, catastrophic in fact." Durbin, an Illinois Democrat, held a hearing on the role of government in mitigating the economic impact of weather disasters as Republicans in the House of Representatives were considering an appropriations bill with a number of riders designed to curtail environmental regulation. As of June, the United States has seen eight weather disasters exceeding $1 billion each in damage, and the annual hurricane season has hardly begun, said Kathryn Sullivan, Assistant Secretary of Commerce for Environmental
Observation and Prediction and NOAA's Deputy Administrator. The record is nine in a single year, 2008. But April alone saw separate tornado, wildfire, flood and drought disasters. "Any one such a event in a year would be considered quite notable, and we had four in totally different hazard categories in the space of a month," Sullivan told Reuters. The costs of weather-disaster damages have climbed past $32 billion for 2011, according to NOAA estimates. The agency also projects that water flowing into the Gulf of Mexico from record flooding will create the largestever "dead zone" from pollutants led by run-off from agricultural chemicals, threatening marine life and threatening the $2.8 billion annual commercial and recreational fisheries. CLIMATE AS CONTEXT "Every weather event that happens nowadays takes place in the context of the changes in the background climate system," University of Illinois scientist Donald Wuebbles, who worked on the
Intergovernmental Panel on Climate Change, told the panel. "So nothing is entirely 'natural' anymore," he said. Since roughly 1980, the United States has seen a total of 107 weather-related disasters of over $1 billion each in damage, with total losses exceeding $750 billion. Almost 90 per cent of all presidentially declared disasters are weather-related, and vulnerability to the impacts is also increasing with population, Sullivan testified. "The scientific and analytical consensus is ... that patterns and frequencies of weather events are changing," said Sullivan. "That alone says past is no longer prologue." Durbin flagged the trend of rising weather disasters as a major budget issue for Congress. Over the next 75 years, he said, cumulative exposure of the U.S. government budget to weatherdisaster damages could reach $7 trillion. Durbin said federal funding for disaster relief has been typically provided only as needed, rather than as regular
budget projections. So weather disasters have been a budget disaster too, he said. "In years with catastrophic events, we are left scrambling to fund relief programs," he said. "If we hope to put this country on a sustainable fiscal path, we need to be prepared to manage this increase in natural catastrophes." Congress has asked the Government Accountability Office to determine how federal, state and local authorities are adapting to climate change. But David Trimble, Director for Natural Resources and Environment at the GAO, told Reuters that environmental regulations addressing climate change have fallen victim to political pressure in the current budget debate. "I think it's more your sort of pressing needs today versus tomorrow, the 'my roof's not raining now' idea," he said. "This is a difficult, complex issue that involves pretty much every aspect of the government," he said. "To tackle it we need greater clarity about where the money we are spending on climate change is going, and on our national priorities." Reuters
5
Saturday, July 30, 2011
Market
KSE 100 Index
Symbols
Volume
46,165,264
Value
2,656,516,845
Trades
32,683
Advanced Declined Unchanged Total
Current High Low Change
128 97 100 325
All Share Index
12,190.37 12,218.30 12,045.90 h92.32
Current High Low Change
8,449.87 8,469.19 8,358.05 h60.29
OIL AND GAS
Paid up Cap(mn)
Company Attock Petroleum Attock Refinery BYCO Petroleum
PE
Open
High
High Low 1,551.36 1,508.13 Total cos Defaulter cos 12 P/BV (x) ROE (%) 3.38 32.54 Low
Close Chg
Last 60 days High Low
Volume
365.90 363.80 365.23
0.73
16189
394.90
362.00
300
853
4.11 124.53
126.00 124.26 125.26
8.83
8.99
8.66
% Change 0.77 5-Day High 1,573.06 5-Day Low 1,527.26
2010 Div BR (%) (%)
6.60 364.50 -
2011 Div BR (%) (%)
20B115.00
-
0.73
546383
143.50
120.40
-
-
-
-
8.85
0.02
85573
10.10
8.00
-
-
-
-
- 23.43
-
-
-
-
Mari Gas Company
735
4.17 101.81
102.80 101.30 102.00
0.19
2568
113.75
98.76
31
National Refinery
800
5.05 360.99
368.40 362.90 365.97
4.98
183515
390.00
323.50
200
Oil & Gas Development 43009 10.41 150.63
154.60 148.01 153.85
3.22
356853
157.51
144.60
55
- 30.00
-
Pak Petroleum Pak Oilfields Pak Refinery Limited
11950
7.63 210.58
211.44 207.50 208.71 -1.87
682936
219.70
202.50
90
20B100.00
-
2365
7.91 359.33
363.00 355.00 358.55 -0.78
1827061 391.69
323.00
255
-100.00
-
89.25
74.00
-
-
-
-
- 80.00
-
-
-
350 41.94
P.S.O Shell Pakistan
75.72
76.00
74.85
75.07 -0.65
Current High Low Change
11,560.23 11,597.24 11,480.27 h57.70
21,203.61 21,252.63 21,044.57 h143.37
1028
1715
3.58 249.32
252.00 249.40 250.80
1.48
109506
291.50
243.25
80
685
7.82 218.98
220.00 219.80 219.90
0.92
2574
233.00
208.00
120
-
Open 751.65 Turnover 1,551 P/E (x) 4.86 Company
High Low 773.62 742.10 Total cos Defaulter cos 4 2 P/BV (x) ROE (%) 1.24 25.53
Close 750.24 Listed cap 3,242.17 mn Payout (%) 11.08
Change -1.41 Market cap 11,533.24 mn Div Yield (%) 2.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
1092 1321
6.94 6.76
75.45 23.37
77.99 23.50
74.51 23.00
75.45 23.05
250 1301
91.20 29.50
Pak Int Cont.Terminal PNSC
0.00 -0.32
69.42 22.90
Company
High Low 1,862.46 1,820.14 Total cos Defaulter cos 36 6 P/BV (x) ROE (%) 3.02 35.00
Open 1,114.81 Turnover 56,190 P/E (x) 3.52 Company
Paid up Cap(mn)
Atlas Honda
Close 1,845.20 Listed cap 52,251.88 mn Payout (%) 48.81
Change 18.62 Market cap 377,357.92 mn Div Yield (%) 5.66
% Change 1.02 5-Day High 1,890.45 5-Day Low 1,826.59
PE
Open
High
High Low 1,126.03 1,105.11 Total cos Defaulter cos 19 4 P/BV (x) ROE (%) 0.89 25.35 Low
Close Chg
Close 1,112.93 Listed cap 6,768.53 mn Payout (%) 20.42
Volume
Last 60 days High Low
Dewan Motors
208.00
100
719
7.70 127.14
131.00 127.10 128.76
1.62
3067
160.00
112.10
50
133
1.35
27.75
29.00
28.75
29.00
1.25
792
35.70
26.70
25
-
-
1087
-
2.60
2.78
2.65
2.69
0.09
20597
3.46
1.50
-
-
-
25B
71
3.68 180.34
181.00 178.01 180.06 -0.28
235.00
163.10
60
- 60.00
22.43
22.75
22.10
22.75
0.32
5100
24.85
22.00
20
-
-
-
Ghandhara Nissan
450
-
2.80
3.00
2.62
2.99
0.19
2300
4.41
2.16
-
-
-
-
Ghani Automobile Ind
200
6.26
3.64
3.63
3.16
3.32 -0.32
1800
3.75
2.90
-
-
-
-
-
Low
Close Chg
Volume
Last 60 days High Low
Indus Motors
786
19.05 0.25
48103
20.94
16.60
-
-
-
-
Pak Suzuki
823 14.36
63.50
63.80
63.75
63.75
0.25
4789
167.00
148.50
135
25B
-
-
Sazgar Engineering
150
23.00
24.00
23.25
23.56
0.56
50 300B
-
-
FOOD PRODUCERS
-
-
-
Performance of SR Food Producers Index
53.11
54.76 0.25
83227
66.00
53.11
Descon Chemical
1996
-
1.91
2.07
1.94
1.94 0.03
2001
2.79
1.83
Descon Oxychem Limited1020
9.24
6.30
6.48
6.24
6.28 -0.02
110191
-
2.23
2.30
2.17
2.20 -0.03
215869
Dewan Salman
3663
Engro Corporation Ltd
3933
Engro Polymer
6635
Fatima Fertilizer
22000
Fauji Fertilizer
8482
Fauji Fertilizer Bin Qasim9341 Ghani Gases Ltd ICI Pakistan Mandviwala Nimir Ind Chemical Shaffi Chemical
-
9.54
-
16.20
8.31 157.22
145.00 142.40 142.89 0.51
-
-
-
3.65
2.07
-
-
-
-
1453420 200.00
8.40
139.20
60
9.78
9.47
9.58 0.04
104492
12.67
16.55
16.08
16.22 0.02
808681
17.60
2414860 172.97
160.90 157.00 159.86 2.64
5.60
-
20B
-
-
- 27.5R
-
-
12.10
-
-
-
138.50
130
25B 92.50
-
9.47
6.17
46.57
47.00
46.35
46.82 0.25
1909917
48.05
41.26
65.5
725 10.00
11.89
12.35
11.42
11.90 0.01
22347
13.90
11.40
122564
160.00
2686528
1388
Lotte Pakistan
6.38 142.38
-
8.53 153.61
15142
3.41
74
154.25 153.00 153.53 -0.08
-
- 35.00
-
-
-
-
-
148.02
175
-
-
-
12.10
12.51
12.05
12.19 0.09
15.94
11.85
5
-
-
-
-
0.81
1.10
1.00
1.00 0.19
5502
1.90
0.15
-
-
-
-
1106 13.17
3.09
3.14
3.01
3.03 -0.06
170527
3.30
2.26
-
-
-
-
120 29.38
2.47
2.35
2.00
2.35 -0.12
1719
3.25
1.57
-
-
-
-
Sitara Chem Ind
214
2.48 100.01
99.96
95.01
99.96 -0.05
7897
104.25
94.67
25
5B
-
-
Sitara Peroxide
551
5.01
16.34
16.60
16.10
16.19 -0.15
107613
19.12
16.05
-
-
-
-
90
5.21
36.13
37.50
36.65
36.89 0.76
1956
37.99
34.76
50
-
-
-
Wah-Noble
FORESTRY AND PAPER Performance of SR Forestry & Paper Index Open 1,128.02 Turnover 106,022 P/E (x) 5.68
High Low 1,146.60 1,109.06 Total cos Defaulter cos 4 1 P/BV (x) ROE (%) 0.42 7.47
Close 1,128.35 Listed cap 1,186.83 mn Payout (%) 25.28
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
707 411
5.50
16.04 42.66
16.50 43.00
15.90 41.75
16.35 0.31 42.15 -0.51
48644 57339
Century Paper Security Paper
Change 0.34 Market cap 3,112.95 mn Div Yield (%) 4.45
Last 60 days High Low 18.00 43.55
14.60 37.41
% Change 0.03 5-Day High 1,128.35 5-Day Low 1,085.42
2010 Div BR (%) (%) 50
Honda Atlas Cars
Paid up Cap(mn)
Crescent Steel Dost Steels Ltd Huffaz Pipe XD
PE
565 3.52 675 555 21.43
Inter.Steel Ltd. International Ind
4350 1199
9.04
Open
High
Low
Close Chg
Close 1,020.72 Listed cap 3,596.11 mn Payout (%) 30.91
Company
Last 60 days High Low
Volume
% Change 0.56 5-Day High 1,047.33 5-Day Low 1,015.01
2010 Div BR (%) (%)
Paid up Cap(mn)
Ansari Sugar Bawany Sugar Habib Sugar Haseeb Waqas J D W Sugar Mehran Sugar National Foods Nestle Pakistan Noon Sugar Quice Food Sakrand Sugar Sanghar Sugar Shahmurad Sugar Shahtaj Sugar Tandlianwala UniLever Pakistan
244 87 750 324 539 173 414 453 165 107 223 119 211 120 1177 665
27.00 2.40 12.00
26.10 2.25 11.57
26.90 -0.04 2.34 0.02 12.00 0.62
20429 12222 2220
29.25 3.10 12.95
25.70 1.62 11.05
30 -
- 35.00 25B 15.00
-
13.50 50.12
13.70 50.98
13.50 50.00
13.66 0.16 50.52 0.40
1225 18462
15.06 52.75
0.00 48.52
40
20B
-
15
CONSTRUCTION AND MATERIALS
10.31
PE
Open
9.70
10.06
0.32
209.00 204.50 204.99 -3.51
High
9757
11.58
9.00
-
270
232.53
199.37
150
1100
72.50
61.35
5
6500
24.90
22.01
10
High Low 2,343.59 2,260.61 Total cos Defaulter cos 61 16 P/BV (x) ROE (%) 14.82 30.30 Low
Close Chg
6.41 6.50 6.50 6.50 0.09 8.00 9.00 9.00 9.00 1.00 5.21 26.21 26.69 26.03 26.05 -0.16 8.28 9.28 9.28 8.28 0.00 2.65 82.27 84.90 80.75 80.90 -1.37 2.44 54.25 54.55 53.75 54.25 0.00 11.74 68.00 69.00 66.01 68.00 0.00 31.90 4107.52 4249.00 3904.01 4201.58 94.06 2.79 15.50 14.66 14.50 14.50 -1.00 9.09 3.00 4.00 4.00 4.00 1.00 2.35 2.40 2.35 2.36 0.01 2.52 11.90 12.50 11.76 12.23 0.33 1.41 10.50 10.65 10.50 10.60 0.10 2.57 63.55 64.50 64.50 64.50 0.95 14.76 55.00 52.25 52.25 52.25 -2.75 21.44 5661.47 5800.00 5675.00 5798.63 137.16
Close 2,332.09 Listed cap 11,335.33 mn Payout (%) 30.57
Volume
Company
Paid up Cap(mn)
Al-Abbas Cement
PE
Open
High
High Low 863.20 841.24 Total cos Defaulter cos 37 6 P/BV (x) ROE (%) 0.44 7.10 Low
Close Chg
Close 851.46 Listed cap 54,792.74 mn Payout (%) 19.04
Open 625.87 Turnover 57,566 P/E (x) 1.22 Paid up Cap(mn)
Hussain Industries Pak Elektron Singer Pak Tariq Glass Ind
Last 60 days High Low
Volume
3657
-
2.56
2.63
2.41
2.56 0.00
481
3.25
2.35
Attock Cement
866
5.93
48.05
48.49
45.65
46.88 -1.17
822
56.01
45.65
Berger Paints
182
-
14.10
14.00
13.52
13.62 -0.48
1001
16.50
12.76
Cherat Cement
956 41.90
8.80
9.40
8.80
8.80 0.00
1014
10.60
Dadabhoy Cement
982 17.31
2.08
2.25
2.05
2.25 0.17
35003
Dandot Cement
948
-
1.40
1.25
1.25
1.40 0.00
Dewan Cement
3891
-
1.49
1.50
1.43
1.45 -0.04
4381 30.11
% Change -0.28 5-Day High 871.42 5-Day Low 851.46
2010 Div BR (%) (%) - 100R
2011 Div BR (%) (%)
-
Last 60 days High Low
1000 10.85 5.24 2109 9.80 7.50 20680 28.00 23.30 482 12.50 8.25 2042 90.49 74.00 156 68.48 53.32 151 88.00 61.70 221 5675.00 3299.00 5026 17.50 14.16 500 4.00 1.81 24000 3.40 1.75 4489 13.01 11.50 3294 11.40 7.91 500 71.50 60.00 3000 60.30 47.09 3830 6135.00 4915.70
% Change 1.84 5-Day High 2,340.73 5-Day Low 2,289.97
2010 Div BR (%) (%)
2011 Div BR (%) (%)
25 25B 10 7010B 12.5R 35 20B 22.50 12 750 15 10 492 -
10R 10B -
High Low 655.85 631.24 Total cos Defaulter cos 15 7 P/BV (x) ROE (%) 0.13 10.64
PE
Open
High
Low
106 1219 375 113.69 693 1.29
2.70 6.29 14.78 9.66
3.65 6.60 15.49 10.60
3.64 6.29 15.00 9.75
Close Chg 3.64 6.36 14.78 9.75
0.94 0.07 0.00 0.09
Close 632.60 Listed cap 3,763.71 mn Payout (%) 6.27
Volume 600 42463 300 14203
Change 6.73 Market cap 4,253.14 mn Div Yield (%) 5.15
Total Assets (Rs in mn)
10,325.49
5.17
Total Equity (Rs in mn)
2,218.22
MA (100-day)
5.51
Revenue (Rs in mn)
3,872.83
MA (200-day)
6.23
Interest Expense
1st Support
4.51
Loss after Taxation
2nd Support
4.31
EPS 10 (Rs)
1st Resistance
4.90
Book value / share (Rs)
2nd Resistance
5.09
PE 11 E (x)
Pivot
4.70
PBV (x)
392.66 (590.93) (2.653) 9.96 0.47
PIOC closed down -0.14 at 4.68. Volume was 294 per cent above average (trending) and Bollinger Bands were 16 per cent narrower than normal. The company's loss after taxation stood at Rs196.945 million which translates into a Loss Per Share of Rs0.85 for the nine months of fiscal year (9MFY11). PIOC is currently 25.1 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect very strong flows of volume out of PIOC (bearish). Trend forecasting oscillators are currently bearish on PIOC.
Lafarge Pakistan Cement Limited
Fundamental Highlights As on Dec 31, 2010
Technical Analysis RSI (14-day)
28.95
Total Assets (Rs in mn)
19,504.35
MA (10-day)
2.59
Total Equity (Rs in mn)
8,815.43
MA (100-day)
2.94
Revenue (Rs in mn)
6,880.77
MA (200-day)
3.05
Interest Expense
1st Support
2.35
Loss after Taxation
2nd Support
2.27
EPS 10 (Rs)
1st Resistance
2.53
980.68 (948.50) (0.723)
Book value / share (Rs)
2nd Resistance
2.63
PE 11 E (x)
Pivot
2.45
PBV (x)
6.72 0.36
LPCL closed unchanged at 2.40. Volume was 103 per cent above average and Bollinger Bands were 32 per cent wider than normal. The company's profit after taxation stood at Rs13.847 million which translates into an Earning Per Share of Rs0.01 for the 1st quarter of current calendar year (1QCY11). LPCL is currently 21.3 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of LPCL at a relatively equal pace. Trend forecasting oscillators are currently bearish on LPCL. Momentum oscillator is currently indicating that LPCL is currently in an oversold condition.
Sui Northern Gas Pipelines Limited
% Change 1.08 5-Day High 646.75 5-Day Low 624.00
Last 60 days High Low
2010 Div BR (%) (%)
4.70 8.70 20.13 13.33
17.5
1.82 6.06 13.10 9.60
10B 10B -
2011 Div BR (%) (%) - 200R
Performance of SR Personal Goods Index Open 954.27 Turnover 3,013,009 P/E (x) 5.57 Paid up Cap(mn)
High Low 964.49 951.09 Total cos Defaulter cos 211 73 P/BV (x) ROE (%) 0.48 8.64
Close 958.29 Listed cap 47,070.70 mn Payout (%) 16.68
Volume
Change 4.02 Market cap 119,368.11 mn Div Yield (%) 3.00
Last 60 days High Low
% Change 0.42 5-Day High 968.51 5-Day Low 954.27
2010 Div BR (%) (%)
2011 Div BR (%) (%)
PE
Open
High
Low
Close Chg
2594
-
2.61
2.65
2.55
2.62 0.01
24928
3.76
1.85
-
30B
-
-
Azam Textile
133
0.42
2.50
2.89
2.35
2.35 -0.15
507
2.99
1.78
7.5
-
-
-
Azgard Nine
4493
-
6.08
6.19
6.02
6.07 -0.01
900462
7.09
5.20
-
-
-
-
Amtex Limited
Bata (Pak) Blessed Tex Mills Chenab Limited Colgate Palm
76
7.74 631.35
662.50 615.05 657.82 26.47
225
716.00
417.01
280
-
-
64
0.95
95.35
100.11
90.60
99.35 4.00
11761
100.11
56.07
50
-
-
1150
-
1.66
1.89
1.61
1.61 -0.05
5051
2.44
1.55
-
-
-
-
825.00
684.50
135
15B140.00
15B
316
Colony Mills Ltd
19.95 702.36
737.47 730.00 737.24 34.88
262
2442
1.56
1.53
1.70
1.41
1.50 -0.03
21306
2.64
1.32
-
-
-
-
238
-
0.56
1.18
0.65
1.18 0.62
1002
1.60
0.26
-
-
-
-
600
-
0.98
1.19
0.91
1.03 0.05
2508
1.39
0.80
-
-
-
-
Data Textile
99
-
0.11
0.40
0.40
0.40 0.29
1000
1.00
0.11
-
-
-
-
591
-
28.85
28.25
28.00
28.01 -0.84
69064
38.95
28.00
5
15B
-
-
34
0.19
3.42
3.65
3.59
3.63 0.21
1002
5.00
2.71
-
-
-
-
Faisal Spinning
100
0.68
48.28
50.00
50.00
50.00 1.72
500
50.00
40.25
50
-
-
-
-
Gadoon Textile XD
234
0.61
62.27
63.00
63.00
63.00 0.73
6600
79.75
62.00
70
-
-
-
-
Ghazi Fabrics
326
0.42
4.56
5.00
3.80
4.14 -0.42
1200
8.00
3.80
10
-
-
-
-
- 122R
-
-
Dawood Lawrencepur
8.50
-
-
-
-
Dewan Mushtaq Textile
2.25
1.50
-
-
-
-
150
2.90
1.15
-
-
-
109141
2.67
1.36
-
-
-
41.49
Total Assets (Rs in mn)
MA (10-day)
19.88
Total Equity (Rs in mn)
MA (100-day)
19.67
Revenue (Rs in mn)
MA (200-day)
23.63
Interest Expense
138,421.94
4,650.15
1st Support
19.37
Profit after Taxation
2,554.56
2nd Support
19.07
EPS 10 (Rs)
1st Resistance
19.90
Book value / share (Rs)
34.06
2nd Resistance
20.13
PE 11 E (x)
19.34
Pivot
19.60
PBV (x)
18,702.08 161,629.83
4.652
0.58
SNGP closed down -0.04 at 19.60. Volume was 25 per cent above average and Bollinger Bands were 78 per cent narrower than normal. The company's profit after taxation stood at Rs415.224 million which translates into an Earning Per Share of Rs0.76 for the nine months of fiscal year (9MFY11). SNGP is currently 17.0 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of SNGP at a relatively equal pace. Trend forecasting oscillators are currently bearish on SNGP.
WorldCall Telecom Limited
-
D S Ind Ltd
-
-
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
-
Crescent Jute
-
-
50
-
-
PERSONAL GOODS
Company
Change -2.38 Market cap 69,209.98 mn Div Yield (%) 3.06
-
-
Change 42.11 Market cap 337,461.28 mn Div Yield (%) 0.63
Performance of SR Construction and Materials Index Open 853.84 Turnover 3,778,271 P/E (x) 6.21
-
- 50.00 20B 10.00
31.24
MA (10-day)
Performance of SR Household Goods Index
2011 Div BR (%) (%)
26.94 2.32 11.38
9.74
Fundamental Highlights As on Jun 30, 2010
Technical Analysis RSI (14-day)
HOUSEHOLD GOODS
Company
Change 5.72 Market cap 15,319.44 mn Div Yield (%) 11.66
1.16
Open 2,289.97 Turnover 71,716 P/E (x) 48.91
INDUSTRIAL METALS AND MINING High Low 1,027.43 1,004.12 Total cos Defaulter cos 7 1 P/BV (x) ROE (%) 0.88 33.10
-
7.08 208.50
-
Performance of SR Industrial Metals and Mining Index Open 1,015.01 Turnover 53,333 P/E (x) 2.65
1428
2011 Div BR (%) (%)
- 50.00
-
638
4.33
18.11
55.50
15B
598
High
54.51
-
15B 65.00
General Tyre
19.80
3.18
Company
241.00
Exide (PAK)XDXB
20B
2011 Div BR (%) (%)
4269
18.80
4813
2010 Div BR (%) (%)
4.38
Open
Dawood Hercules
Company
Baluchistan Wheels Ltd.
% Change -0.17 5-Day High 1,117.67 5-Day Low 1,106.47
237.00 232.00 236.90
-
154.00 148.50 149.66 -4.76
-
6.29 232.52
PE
6.08 154.42
2011 Div BR (%) (%)
- 50SD -
101
3924 341
2011 Div BR (%) (%)
40 15
Change -1.88 Market cap 41,421.40 mn Div Yield (%) 5.80
Paid up Cap(mn)
Clariant Pak
2010 Div BR (%) (%)
2010 Div BR (%) (%)
Performance of SR Automobile and Parts Index
Atlas Battery
Performance of SR Chemicals Index
Agritech Limited
Pioneer Cement Limited
% Change -0.19 5-Day High 780.63 5-Day Low 750.24
AUTOMOBILE AND PARTS
CHEMICALS Open 1,826.59 Turnover 9,471,602 P/E (x) 8.63
Alert ! Unusual Movements
Performance of SR Industrial Transportation Index
Close Change 1,539.05 11.79 Listed cap Market cap 65,194.15 mn 1,133,331.24 mn Payout (%) Div Yield (%) 55.94 5.38
691 3921
Current High Low Change
KMI 30 Index
INDUSTRIAL TRANSPORTATION
Performance of SR Oil and Gas Index Open 1,527.26 Turnover 3,728,613 P/E (x) 10.40
KSE 30 Index
Fundamental Highlights As on Dec 31, 2010
Technical Analysis
22.67
22.99
22.35
22.58 -0.09
946499
25.85
21.31
-
20R
-
20R
Gul Ahmed Textile
635
3.12
49.00
49.30
49.30
49.30 0.30
500
51.94
46.75
12.5
-
-
-
13311
6.78
4.00
4.00
3.90
3.93 -0.07
93545
5.04
3.83
-
-
-
92R
Gulshan Spinning
222
0.39
9.26
9.70
9.70
9.26 0.00
460
12.16
9.20
10
20B
-
-
RSI (14-day)
23.17
Total Assets (Rs in mn)
22,006.27
Flying Cement Ltd
1760
-
1.23
1.27
1.17
1.27 0.04
2650
1.95
1.17
-
-
-
-
9,891.61
Gharibwal Cement
4003
-
4.91
5.80
5.00
4.91 0.00
229
9.15
4.25
-
-
-
-
DG Khan Cement Ltd Fauji Cement
Hamid Textile
133
-
1.05 0.05
2000
1.00
-
-
-
-
MA (10-day)
1.78
Total Equity (Rs in mn)
716
0.71
3.55
3.65
3.55
3.55 0.00
1350
4.45
3.55
10
-
-
-
MA (100-day)
2.22
Revenue (Rs in mn)
3105
2.61
36.51
37.00
36.00
36.52 0.01
2900
48.50
36.00
20
-
-
-
MA (200-day)
2.45
Interest Expense
99
0.31
4.26
4.20
4.20
4.20 -0.06
500
8.24
3.50
-
-
-
-
Jubilee Spinning
325
-
3.86
4.50
3.00
3.86 0.00
4200
4.90
2.01
-
-
-
-
1st Support
1.60
Loss after Taxation
303
-
1.02
1.25
1.05
1.05 0.03
10759
1.64
0.75
-
-
-
-
2nd Support
1.51
EPS 10 (Rs)
5
-
-
-
-
-
-
-
2nd Resistance
1.89
PE 11 E (x)
15 100R
-
-
Pivot
1.70
PBV (x)
WTL closed down -0.01 at 1.65. Volume was 49 per cent above average and Bollinger Bands were 15 per cent wider than normal. The company's loss after taxation stood at Rs182.323 million which translates into a Loss Per Share of Rs0.21 for the 1st quarter of current calendar year (1QCY11). WTL is currently 32.7 per cent below its 200-day moving average and is displaying a downward trend. Volatility is low as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect moderate flows of volume out of WTL (mildly bearish). Trend forecasting oscillators are currently bearish on WTL. Momentum oscillator is currently indicating that WTL is currently in an oversold condition.
Hira Textile Mills Ltd. Ibrahim Fibres Ideal Spinning
Haydery Const
32
-
0.45
0.68
0.54
0.55 0.10
2001
0.83
0.21
-
-
-
-
Kohat Cement
1288
-
5.80
6.20
5.81
5.82 0.02
1683
7.60
5.80
-
-
-
-
13126 60.00
2.40
2.55
2.37
2.40 0.00
789226
3.35
2.36
-
-
-
-
Kohinoor Ind
1547929
Lafarge Pakistan Cmt.
1.00
1.05
1.05
1.05
Lucky Cement
3234
5.94
72.94
73.38
72.50
73.12 0.18
77.43
69.36
40
-
-
-
Kohinoor Spinning
1300
0.42
1.20 -0.24
1022
Maple Leaf Cement
5267
-
2.01
2.08
1.99
2.00 -0.01
90683
3.05
1.99
-
-
-
-
Kohinoor Textile
2455
3.69
3.25
3.55
2.95
3.21 -0.04
1808
5.00
2.80
Pioneer Cement
2271
-
4.82
4.89
4.50
4.68 -0.14
150583
6.34
4.50
-
-
-
-
Masood Textile
600
1.70
18.00
19.00
18.25
18.33 0.33
7700
20.59
16.91
Shabbir Tiles
721
-
6.89
7.00
6.50
6.77 -0.12
5519
7.49
5.25
-
-
- 100R
GENERAL INDUSTRIALS Performance of SR General Industrials Index Open 960.07 Turnover 88,404 P/E (x) 1.84
High Low 974.50 948.06 Total cos Defaulter cos 13 2 P/BV (x) ROE (%) 0.81 43.91
Close 967.92 Listed cap 3,043.31 mn Payout (%) 15.55
Change 7.85 Market cap 36,056.45 mn Div Yield (%) 8.46
% Change 0.82 5-Day High 973.14 5-Day Low 960.07
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
Cherat Packagin
172
2.31
46.49
47.50
46.70
47.00 0.51
1925
54.48
46.00
20
25B
-
50R
ECOPACK Ltd
230
-
1.42
1.58
1.38
1.46 0.04
27682
1.80
1.10
-
-
-
-
1067
5.39
52.59
47 12.99
27.78
Company
Ghani Glass Merit Pack
2011 Div BR (%) (%)
Mukhtar Textile Nishat (Chunian)
221
-
145
-
0.58
0.71
0.25
0.25 -0.33
1621
3.07
19.41
20.41
19.50
19.94 0.53
Nishat Mills
3516
4.20
49.14
49.69
47.00
47.39 -1.75
1624654
61.99
560
2.46
19.73
19.00
18.73
19.73 0.00
215
20.90
Ravi Textile
250
-
0.89
1.19
0.60
0.80 -0.09
24327
1.30
Redco Textile
213
2.11
0.50
0.43
0.36
0.40 -0.10
8500
Salfi Textile
33
0.32
64.91
62.00
61.67
61.75 -3.16
Sana Ind
55
2.95
38.52
39.00
39.00
39.00 0.48
Saritow Spinning
133
0.28
1.42
1.54
1.53
1.42 0.00
Service Ind
120
3.28 193.78
66
3.30
9.75
3.86 224.91
Ghandhara Ind
213
9.30
Millat Tractors
366
9.06 596.01
7.81
-
-
-
-
1.39
0.16
-
-
-
-
26.45
19.20
15
-
-
-
47.00
25
45R
-
-
17.26
-
-
-
-
0.36
-
-
-
-
1.80
0.30
-
-
-
-
502
76.50
49.00
25
-
-
-
2046
41.48
36.50
60
-
-
-
150
1.98
1.13
-
-
-
-
214.95
170.00
75
-
-
244552
Book value / share (Rs)
11.49 0.14
BOOK CLOSURES Company
From
-
(TFC) United Bank
31-Jul
13-Aug
-
-
44
0.19
0.66
0.75
0.75
0.75 0.09
500
0.89
0.25
-
-
-
-
Silkbank Limited #
03-Aug
10-Aug
-
-
Shadman Cot
176
20.00
20.58
21.60
21.60
21.60 1.02
401
23.94
12.90
5
-
-
-
KASB Bank
03-Aug
06-Aug
105.16(R) 26-Jul
-
Shahtaj Textile
97
1.62
28.00
28.94
28.94
28.94 0.94
500
29.89
23.55
45
-
-
-
Glamour Textile Mills #
03-Aug
10-Aug
-
10-Aug
194.00 191.01 192.11 -1.67
2276
To
D/B/R
Spot AGM/Date 10-Aug
-
-
Trust Investment Bank #
05-Aug
12-Aug
-
-
52.98 0.39
1647
25
10B
-
-
Thal Ltd
307
-
99.02
99.89
98.00
99.01 -0.01
-
General Tyre & Rubber #
07-Aug
18-Aug
-
-
28.96 1.18
1008
29.50
24.02
-
-
-
-
Treet Corp
418
6.42
51.14
52.78
50.61
51.34 0.20
2706
59.20
49.00
50 900B
-
-
Nishat Power #
08-Aug
22-Aug
-
-
22-Aug
5344
118.00
101.75
32.5
-
-
-
Zil Limited
53
6.22
57.45
55.51
55.00
57.45 0.00
394
67.00
55.00
35
-
-
(TFC) Allied Bank
13-Aug
26-Aug
-
-
-
Nishat Chunian Power #
16-Aug
22-Aug
-
-
22-Aug
52718
184.50
160.30
100
-
-
-
First Habib Modaraba
25-Aug
31-Aug
22
-
-
Fauji Fertiliser
29-Aug
04-Sep
-
-
-
MCB Bank
02-Sep
09-Sep
30(III)
-
-
28-Oct
03-Nov
-
-
-
Open 1,739.23 Turnover 9,642 P/E (x) 7.70
215
0.14
1.79
Service Textile
58.50
51.00
Taj Textile
334
-
High Low 1,747.00 1,733.80 Total cos Defaulter cos 11 1 P/BV (x) ROE (%) 2.93 38.02
High
Low
Close Chg
10.75
9.00
9.00 -0.75
223.49 220.00 223.15 -1.76 8.17
7.90
Change 0.36 Market cap 34,319.54 mn Div Yield (%) 17.09
Last 60 days High Low
2010 Div BR (%) (%)
2011 Div BR (%) (%)
10.75
7.70
-
-
-
-
244
244.00
217.00
400
-
-
-
-
-
-
25B325.00
-
7.81
0.00
101
0.45
7221
9.78
7.60
-
625.80
513.60
650
Open 974.10 Turnover 22,678 P/E (x) 6.15
% Change 0.02 5-Day High 1,777.68 5-Day Low 1,739.23
2002
598.98 595.00 596.46
0.35
0.35
0.35 -0.15
9500
1.01
3272
108.00
0.11 97.00
-
-
80
20B -
-
Performance of SR Pharma and Bio Tech Index
Close 1,739.59 Listed cap 1,336.62 mn Payout (%) 131.49
Volume
0.50
PHARMA AND BIO TECH
Performance of SR Industrial Engineering Index
AL-Ghazi Tractor
2524
0.63
Pak Synthetic
INDUSTRIAL ENGINEERING
Ados Pak
5000
1st Resistance
51.00
184.50 170.10 184.08 6.53
Open
0.30 -0.10
0.65
26.40
300
PE
0.30
2.00
53.85
Tri-Pack Films
Company
0.30
1.20
29.00
844 17.35 103.97
Paid up Cap(mn)
0.40
1.25
743.41 (1.333)
104.90 103.80 104.11 0.14
Packages Ltd
7.18 177.55
2010 Div BR (%) (%)
Mian Textile
1.44
7,464.40 (1,147.01)
Company Abbott (Lab) Ferozsons (Lab) GlaxoSmithKline Highnoon (Lab) IBL HealthCare Ltd Searle Pak
Paid up Cap(mn) 979 250 2019 182 200 306
PE 5.71 7.78 10.43 6.71 3.89 5.91
Open 94.09 93.78 73.00 28.20 9.50 59.00
High 95.99 94.00 73.90 29.00 9.50 60.84
High Low 989.04 969.12 Total cos Defaulter cos 9 P/BV (x) ROE (%) 1.37 22.31 Low 92.50 93.98 72.50 28.00 9.15 60.00
Close Chg 93.26 -0.83 94.00 0.22 73.00 0.00 28.99 0.79 9.50 0.00 60.60 1.60
Close 976.72 Listed cap 3,904.20 mn Payout (%) 44.54
Volume 401 2010 1862 2667 14798 840
Change 2.62 Market cap 31,917.19 mn Div Yield (%) 7.25
Last 60 days High Low 97.00 98.73 79.99 33.45 10.99 62.80
88.75 88.21 71.53 25.25 9.00 54.00
2010 Div BR (%) (%) 50 40 25 30
% Change 0.27 5-Day High 996.41 5-Day Low 974.10 2011 Div BR (%) (%)
20B 12.50 15B 10B -
-
Husein Industries
12-Aug 18-Aug
INDICATIONS # Extraordinary General Meeting
OTHER SECTORS Symbols TRG Pakistan Ltd. Shakarganj Food Grays of Cambridge Pak Tobacco Co. P.I.A.C.(A) AKD Capital Limited Pace (Pak) Ltd. Netsol Technologies
Open 2.27
High
2.13
Change
Vol
2.3
0.03
148805
5.7
5.01
5.65
0.93
13500
40.75
40.5
39.78
0
85.57
2.4
Low Close
4.72 39.78
305
86
83
83.36
-2.21
900
2.11
2.2
2.06
2.12
0.01
12524
33.29
34.19
33
33.29
0
301
1.94
2.05
1.91
2.01
0.07
333811
20.41
20.84
20.24
20.38
-0.03
84811
6
Saturday, July 30, 2011 Ask Gen Insurance
FIXED LINE TELECOMMUNICATION Performance of SR Fixed Line Telecommunication Index Open 797.49 Turnover 1,235,579 P/E (x) 4.01 Paid up Cap(mn)
Company Pak.Telecomm Co A Telecard WorldCall Tele Wateen Telecom Ltd
High Low 821.37 799.51 Total cos Defaulter cos 5 P/BV (x) ROE (%) 0.52 12.84
PE
Open
High
Low
Close Chg
37740 10.42 3000 2.31 8606 6175 -
12.46 1.32 1.66 1.85
12.77 1.40 1.80 2.00
12.52 1.30 1.61 1.80
12.71 0.25 1.36 0.04 1.65 -0.01 1.90 0.05
Close 812.30 Listed cap 50,077.79 mn Payout (%) 62.56
Volume 423400 33184 778895 26952
Change 14.81 Market cap 51,191.99 mn Div Yield (%) 15.59
% Change 1.86 5-Day High 819.02 5-Day Low 797.49
Last 60 days High Low
2010 Div BR (%) (%)
17.70 1.94 2.50 2.97
17.5 1 -
12.35 1.30 1.61 1.80
2011 Div BR (%) (%)
-
-
-
ELECTRICITY
280
3.03
8.11
8.66
Paid up Cap(mn)
Company
Genertech Hub Power Japan Power KESC Kohinoor Energy Kohinoor Power Kot Addu Power Nishat Chunian Power Ltd Nishat Power Ltd Southern Electric
198 11572 1560 7932 1695 126 8803 3673 3541 1367
High Low 1,379.82 1,362.78 Total cos Defaulter cos 15 1 P/BV (x) ROE (%) 1.26 9.35
PE
Open
High
Low
7.87 5.36 2.41 5.46 2.49 2.23 -
0.50 39.00 1.16 2.14 17.56 3.00 42.50 13.93 15.64 1.29
0.50 39.30 1.19 2.22 17.76 3.95 42.83 14.20 15.90 1.27
0.31 38.99 1.06 2.15 17.75 2.75 42.00 13.80 15.50 1.21
Change 5.64 Market cap 111,811.43 mn Div Yield (%) 7.74
Volume
Last 60 days High Low
0.48 39.21 1.16 2.16 17.75 3.11 42.57 13.83 15.62 1.21
17521 272216 71761 35907 7426 21219 166062 40635 24115 103884
0.75 40.00 1.70 2.57 18.20 3.95 44.19 17.25 17.70 1.69
Paid up Cap(mn)
Company Sui North Gas Sui South Gas
PE
5491 14.00 8390 4.53
Open
High
19.64 19.95
19.83 20.05
Low 19.30 19.80
Close Chg
0.16 36.70 1.01 2.03 15.60 2.35 41.75 13.47 15.39 1.20
19.60 -0.04 20.05 0.10
Close 1,256.84 Listed cap 12,202.80 mn Payout (%) 66.79
Volume 198329 433188
2010 Div BR (%) (%) 50 25 50 -
7.8R -
Company Allied Bank Limited Askari Bank XB Bank Alfalah Bank AL-Habib Bank Of Khyber Bank Of Punjab BankIslami Pak Faysal Bank Habib Bank Ltd
8603 7070 13492 8786 5004 5288 5280 7327 11021 Habib Metropolitan Bank XB 10478 JS Bank Ltd 8150 KASB Bank LtdSPOT 9509 MCB Bank Ltd 8362 Meezan Bank XB 8030 National Bank 16818 NIB Bank 40437 Samba Bank 14335 Silkbank Ltd 26716 Soneri Bank 6023 Summit Bank Ltd 8701 United Bank Ltd 12242
PE
Open
6.25 63.00 5.00 11.04 5.38 10.25 6.10 28.70 2.01 4.20 6.24 10.03 3.61 4.60 9.76 7.50 119.68 5.42 18.96 44.00 2.20 1.40 7.37 188.30 6.16 18.00 4.24 53.89 1.39 21.13 1.69 14.44 2.34 2.49 4.94 3.06 5.42 60.13
High
Change 1.85 Market cap 27,583.77 mn Div Yield (%) 8.30
Last 60 days High Low 23.60 23.75
17.86 19.80
28.86
29.68
29.29
29.50 0.64
10020
29.68
26.00
40
20B
-
-
59.00
60.00
58.00
58.16 -0.84
1901
75.00
58.00
25
50B
-
-
Century Insurance
457
4.51
8.11
8.19
7.63
8.11 0.00
405
8.85
7.50
10
-
-
-
Crescent Star Insurance
121
6.89
3.45
3.37
2.45
2.48 -0.97
1032
4.50
2.02
-
-
-
-
31.60
12.5
EFU General Insurance
-
-
Habib Insurance
450
7.11
11.07
11.00
10.17
10.24 -0.83
740
11.89
10.10
25 12.5B
-
-
IGI Insurance
970
5.89
71.49
72.00
71.05
71.19 -0.30
30120
76.12
67.00
30
55B 10.00
-
5.37
15.55
15.74
15.40
15.46 -0.09
51458
18.30
Pak Reinsurance
1250 12.15
3000
32.23
32.69
63.75 63.02 63.39 0.39 11.24 11.00 11.01 -0.03 10.35 10.10 10.22 -0.03 28.97 28.56 28.80 0.10 4.67 4.17 4.50 0.30 6.73 6.20 6.38 0.14 3.75 3.63 3.71 0.10 10.24 9.55 9.94 0.18 120.25 119.26 120.00 0.32 19.00 18.80 18.85 -0.11 2.29 2.15 2.20 0.00 1.50 1.35 1.36 -0.04 189.80 185.10 186.43 -1.87 18.45 18.45 18.00 0.00 54.02 53.70 53.88 -0.01 1.44 1.37 1.42 0.03 1.76 1.69 1.69 0.00 2.54 2.26 2.31 -0.03 4.98 4.81 4.97 0.03 3.25 3.05 3.15 0.09 61.00 60.00 60.69 0.56
25.00 10.00 30.00 10.00 -
-
% Change 0.15 5-Day High 1,270.92 5-Day Low 1,254.99
2010 Div BR (%) (%) 20 15
2011 Div BR (%) (%)
25B
Change -1.75 Market cap 656,673.99 mn Div Yield (%) 5.67
Last 60 days High Low
1202 68.99 56510 12.35 725301 11.02 44975 29.89 2880 6.20 5392093 7.35 2245 4.09 21047 10.73 17205 123.90 11846 22.45 15569 3.00 14604 1.77 2195107 210.95 101 18.50 771687 55.80 1217521 1.95 511 2.18 628337 3.06 4089 6.69 20312 4.75 89013 65.01
2400
39.65
13.65
30
-
Premier Insurance
303
3.50
7.95
8.00
7.60
7.83 -0.12
2150
8.99
7.60
25
Reliance Insurance
284
5.50
8.75
9.13
8.88
9.02 0.27
10744
9.13
6.40
Shaheen Insurance
250
9.59
13.44
14.40
14.00
14.19 0.75
2654
14.40
11.50
-
-
-
-
-
-
- 12.5B
-
-
-
-
25R
-
Performance of SR Life Insurance Index Open 902.35 Turnover 267 P/E (x) 5.27 Company
-
-
60.50 10.79 9.42 28.25 4.17 5.00 3.25 9.00 114.10 17.00 2.05 1.28 185.10 16.60 49.51 1.37 1.62 2.26 4.80 2.67 59.65
% Change -0.16 5-Day High 1,126.50 5-Day Low 1,098.55
2010 Div BR (%) (%)
2011 Div BR (%) (%)
40 10B - 10B 20 20B -64.41R - 20B 65 10B - 20B - 33R -105.16R 115 10B 60.00 - 15B 75 25B -154.79R -63.46R - 311R - 20R 50 - 15.00 -
High Low 930.49 891.20 Total cos Defaulter cos 4 P/BV (x) ROE (%) 2.01 3.85
Close 902.35 Listed cap 2,290.72 mn Payout (%) 355.53
Change 0.00 Market cap 10,014.08 mn Div Yield (%) 6.81
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
Volume
Last 60 days High Low
850
9.47
67.42
70.75
66.10
67.42 0.00
267
73.25
EFU Life Assurance
52.01
% Change 0.00 5-Day High 925.96 5-Day Low 902.35
2010 Div BR (%) (%) 50
2011 Div BR (%) (%)
-
-
-
FINANCIAL SERVICES Performance of SR Financial Services Index Open 275.99 Turnover 1,120,391 P/E (x) 11.48 Company
High Low 285.90 269.30 Total cos Defaulter cos 41 6 P/BV (x) ROE (%) 0.17 0.91
Close 275.42 Listed cap 30,336.44 mn Payout (%) 99.56
Change -0.57 Market cap 13,587.84 mn Div Yield (%) 5.27
Paid up Cap(mn)
PE
Open
High
Low
Close Chg
225
0.81
0.40
0.49
0.35
0.39 -0.01
3002
0.64
0.26
450 17.92
AMZ Ventures Arif Habib Limited
Last 60 days High Low
Volume
% Change -0.21 5-Day High 288.88 5-Day Low 275.42
2010 Div BR (%) (%) -
-
2011 Div BR (%) (%) -
-
17.24
17.65
17.00
17.02 -0.22
18607
20.20
13.65
-
20B
-
-
Arif Habib Corp
3750
3.62
26.90
27.55
26.70
27.02 0.12
841158
29.24
20.53
30
-
-
-
Dawood Equities
250
-
1.20
1.65
1.20
1.20 0.00
10002
1.80
1.01
-
-
-
-
First Credit & Invest Bank Ltd 650
5.00
5.01
5.00
5.01 0.01
10001
6.10
4.26
-
-
-
-
Symbols
1.45
1.58
1.40
1.45 0.00
10036
1.99
1.05
-
-
-
-
Invest Bank
2849
-
0.40
0.40
0.31
0.38 -0.02
10252
0.74
0.22
-
-
-
-
Ist Cap Securities
3166
NML-AUG 49.72 FFC-AUG 159.19 ENGRO-AUG 143.69 FFBL-JUL 46.43 FFBL-AUG 46.93 ENGRO-JUL 142.46 NML-JUL 49.12 POL-AUG 362.55 FFC-JUL 157.68 DGKC-JUL 22.64 DGKC-AUG 22.82 MCB-AUG 190.58 NBP-AUG 54.36 ATRL-AUG 125.76 ATRL-JUL 124.52 LUCK-JUL 72.83 POL-JUL 359.93 NBP-JUL 53.88 LUCK-AUG 73.57 MCB-JUL 187.62 PPL-AUG 212.52 PPL-JULB 210.73 PTC-JUL 12.35 PTC-AUG 12.52 UBL-JUL 60.80 UBL-AUG 61.03
-
2.51
2.98
2.39
2.78 0.27
42516
3.24
2.22
-
10B
-
-
626
0.65
1.49
1.50
1.35
1.45 -0.04
37800
1.96
1.30
-
-
-
-
Jah Siddiq Co
7633
-
6.92
6.98
6.76
6.81 -0.11
868640
8.34
6.11
10
-
-
-
JOV and CO
508
-
2.57
2.71
2.53
2.54 -0.03
54703
3.40
2.45
-
-
-
-
JS Investment
1000 41.67
4.90
5.18
4.76
5.00 0.10
16136
6.43
4.10
-
-
-
-
KASB Securities
1000
-
3.25
3.85
3.10
3.38 0.13
1358
4.79
2.65
-
-
-
-
Orix Leasing
821
3.64
5.99
6.18
5.61
6.01 0.02
3323
6.45
5.25
-
-
-
-
Pervez Ahmed Sec
775
5.00
1.41
1.50
1.39
1.40 -0.01
42757
1.99
1.32
-
-
-
-
Security Leasing
363
-
2.04
2.10
2.10
2.04 0.00
418
2.25
1.50
-
-
-
-
Trust Brokerage
100
-
1.70
1.25
1.25
1.25 -0.45
506
3.95
1.01
-
-
-
-
EQUITY INVESTMENT INSTRUMENTS Performance of SR Equity Investment Instruments Index Open 1,537.42 Turnover 473,174 P/E (x) 16.41 Paid up Cap(mn)
Company
High Low 1,555.26 1,522.29 Total cos Defaulter cos 52 11 P/BV (x) ROE (%) 0.36 2.21
PE
Open
High
Low
Close Chg
Close 1,529.87 Listed cap 29,771.58 mn Payout (%) 104.74
Change -7.55 Market cap 19,429.00 mn Div Yield (%) 9.92
Last 60 days High Low
Volume
% Change -0.49 5-Day High 1,543.89 5-Day Low 1,529.87
2010 Div BR (%) (%)
2011 Div BR (%) (%)
2.82
2.75
2.89
2.51
2.71 -0.04
4902
2.90
1.41
0
-
-
-
200
3.07
0.54
0.65
0.40
0.43 -0.11
17500
0.89
0.30
1.2
-
-
-
524
6.53
1.20
1.40
1.24
1.24 0.04
501
1.90
1.07
-
-
-
-
300
2.20
2.94
3.40
2.50
2.91 -0.03
3000
4.60
1.51
-
-
-
-
First Dawood Mutual F.
581
1.34
2.23
2.28
1.76
2.23 0.00
102
2.47
1.70
-
-
-
-
Golden Arrow
760
2.23
3.33
3.39
3.30
3.36 0.03
9012
3.72
3.11
17
-
-
-
NON LIFE INSURANCE
H B L Modaraba
397
3.87
7.83
7.95
7.16
7.89 0.06
6500
8.44
7.10
11
-
-
-
Performance of SR Non Life Insurance Index
Habib Modaraba
1008
5.86
8.22
8.42
8.00
8.09 -0.13
55716
8.50
7.32
21
-
22
-
% Change 0.16 5-Day High 716.78 5-Day Low 691.29
JS Growth Fund
3180
2.06
6.00
6.19
6.00
6.00 0.00
1410
7.40
5.32
12.5
-
-
-
JS Value Fund
1186
0.55
5.29
5.30
5.00
5.19 -0.10
166916
6.10
4.91
10
-
5.00
-
59
6.15
10.25
11.25
11.24
11.25 1.00
1500
11.99
9.00
18
-
-
-
PICIC Energy Fund
1000
2.09
7.15
7.10
7.01
7.10 -0.05
5993
8.25
6.80
10
- 10.00
-
PICIC Growth Fund
2835
2.66
13.10
13.01
12.95
12.95 -0.15
13.84
12.00
20
- 12.50
-
2011 Div BR (%) (%)
PICIC Inv Fund
2841
2.30
5.90
5.89
5.75
5.83 -0.07
4181
6.95
5.45
10
-
7.50
-
U D L Modaraba
264
2.31
7.00
6.76
6.75
6.75 -0.25
11000
7.49
6.31
12.5
-
7.50
-
UNICAP Modaraba
136
-
0.50
0.35
0.35
0.35 -0.15
14000
1.50
0.13
-
-
-
-
1237
PE 6.19
Open 57.02
High 58.30
Low 57.10
Close Chg 57.66 0.64
Volume 34517
Last 60 days High Low 69.90
56.02
2010 Div BR (%) (%) 25
-
-
-
Paramount Modaraba
170750
High 1.75 1.50 11.65 19.69 34.12 29.90 3.90 39.50 10.40 18.90 19.33 50.99 5.99 6.78 35.50 43.98 323.57 1.22 130.00 25.27 2.97 42.15 3.50 17.75 3.89 1.29 1.87 1.20 1.70 65.00 58.35 1.76 155.00 30.69 0.90 1.35 16.39 7.00 7.00 14.74 4.80 108.00 1.80 300.00 9.74 12.25 109.96 6.95 2.24 1.50 0.35 2.70 1.45 11.50 1.84 8.00 2.50
Low
Close
1.75 1.50 11.65 19.69 30.90 29.90 3.90 39.50 10.40 18.90 19.33 48.55 5.00 6.78 35.50 42.00 323.45 1.00 128.13 25.27 1.02 38.14 3.50 17.75 3.89 1.20 1.30 1.20 1.50 65.00 58.35 1.76 155.00 30.69 0.90 1.35 15.46 7.00 6.50 14.74 4.80 101.00 1.78 300.00 9.74 12.25 109.75 6.90 2.10 1.16 0.28 2.69 0.55 11.25 1.84 8.00 2.50
1.50 1.35 10.67 19.25 32.50 28.48 3.22 39.85 10.05 18.50 19.18 50.79 5.23 6.37 35.10 43.01 340.46 1.00 134.87 24.07 2.01 42.15 4.50 17.08 3.53 1.12 1.27 1.00 1.55 62.65 61.37 2.50 158.00 32.30 0.76 1.00 16.20 7.00 7.35 15.73 4.95 105.16 0.81 305.00 9.00 11.48 110.00 6.68 2.05 1.12 0.25 2.35 1.00 12.10 1.36 7.60 2.21
Change
Vol
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
100 100 100 100 100 100 100 100 100 79 75 62 60 50 48 39 35 32 28 26 21 20 18 17 17 12 12 12 11 10 10 10 10 10 10 10 8 8 6 6 5 5 5 5 5 5 5 4 3 3 2 2 2 2 2 2 2
FUTURE CONTRACTS
-
780
Change 1.11 Market cap 43,761.68 mn Div Yield (%) 9.26
1.50 1.35 10.67 19.25 32.50 28.48 3.22 39.85 10.05 18.50 19.18 50.79 5.23 6.37 35.10 43.01 340.46 1.00 134.87 24.07 2.01 40.15 4.50 17.08 3.53 1.12 1.27 1.00 1.55 62.65 61.37 2.50 158.00 32.30 0.76 1.00 16.20 7.00 7.35 15.73 4.95 105.16 0.81 305.00 9.00 11.48 110.00 6.68 2.05 1.12 0.25 2.35 1.00 12.10 1.36 7.60 2.21
7.63
First Capital Mutual F.
Close 692.40 Listed cap 11,111.34 mn Payout (%) 79.54
Open
2121
Equity Modaraba
High Low 700.60 686.03 Total cos Defaulter cos 34 22 P/BV (x) ROE (%) 0.45 5.20
Symbols BGL DCM HUSS JSGCL OTSU PAKD PNGRS RUPL SCM AHI PGCL PECO SMTM SLYT SURC PPP IDYM TRIBL SHEZ GVGL FNEL NATM KASBM ADAMS FECM DWAE FCONM PAKMI FTSM FIMM JVDC OLSM PMPK SUTM TRPOL TSMF BNWM SASML JKSM MDTL AGSML BOC CLCPS FZTM JOPP MACFL MUREB ZAHT CSUML YOUW BROT DWSM GAMON JDMT KML SAIF SCLL
IGI Investment Bank
Crescent St Modaraba
Paid up Cap(mn)
Adamjee Insurance XD
Volume
32.55 0.32
B R R Guardian Mod.
Open 691.29 Turnover 148,341 P/E (x) 8.59 Company
Close Chg
31.60
UPTO 100 VOLUME
-
3.67
Ist Dawood Bank
High Low Close 1,113.39 1,089.73 1,098.55 Total cos Defaulter cos Listed cap 27 - 257,548.02 mn P/BV (x) ROE (%) Payout (%) 1.00 13.94 40.49 Low
-
1.27
2011 Div BR (%) (%)
BANKS
Paid up Cap(mn)
-10B 25R
443
% Change 0.41 5-Day High 1,390.34 5-Day Low 1,366.36
Performance of SR Banks Index Open 1,100.30 Turnover 11,211,844 P/E (x) 7.14
8.11
391
GAS WATER AND MULTIUTILITIES High Low 1,264.21 1,239.39 Total cos Defaulter cos 2 P/BV (x) ROE (%) 0.92 11.41
10.95
Atlas Insurance
Performance of SR Gas Water and Multiutilities Index Open 1,254.99 Turnover 631,517 P/E (x) 8.05
200
LIFE INSURANCE
Close 1,371.99 Listed cap 95,369.29 mn Payout (%) 104.13
Close Chg -0.02 0.21 0.00 0.02 0.19 0.11 0.07 -0.10 -0.02 -0.08
8.11 0.00
Central Insurance
Performance of SR Electricity Index Open 1,366.36 Turnover 760,747 P/E (x) 13.45
8.50
Open
High 50.20 161.75 146.29 47.00 47.16 144.90 49.50 363.75 161.15 22.85 23.06 191.00 55.00 126.90 126.00 73.39 362.00 53.94 73.75 189.50 212.50 211.00 12.69 12.80 60.50 61.20
Low
Close
47.51 158.01 143.80 46.35 46.55 142.01 47.02 358.20 157.50 22.45 22.65 187.10 54.15 125.50 124.16 72.50 355.50 53.71 73.00 185.50 209.50 207.55 12.45 12.60 60.50 61.20
47.84 161.15 144.14 46.94 47.09 142.74 47.34 361.13 160.16 22.53 22.77 188.53 54.41 126.38 125.16 73.17 358.88 53.83 73.60 186.05 210.66 209.43 12.69 12.80 60.50 61.20
Change -1.88 1.96 0.45 0.51 0.16 0.28 -1.78 -1.42 2.48 -0.11 -0.05 -2.05 0.05 0.62 0.64 0.34 -1.05 -0.05 0.03 -1.57 -1.86 -1.30 0.34 0.28 -0.30 0.17
Vol 510000 443000 430500 335500 325500 325000 323500 275500 253000 246500 213500 187500 161500 155000 150000 137000 114500 74500 67500 65500 65000 41000 38500 3500 2500 1000
MTS LEVERAGE POSITION Symbol AHCL AICL AKBL ANL ATRL BAFL DGKC ENGRO FFBL FFC HUBC KAPCO LOTPTA LUCK MCB NBP NCL NETSOL NML OGDC PAKRI POL PPL PSO PTC SSGC UBL Total
Total Volume 754,760 14,610 333,036 241,537 21,500 895,374 474,735 53,995 96,450 76,000 77,000 49,375 2,368,644 198,500 14,969 478,098 340,583 10,000 275,108 500 252,160 17,500 3,675 21,459 29,930 3,000 132,500 7,234,998
Total Value 14,774,452 632,132 2,770,801 1,070,989 2,018,919 6,777,130 8,093,212 5,844,781 3,171,780 9,017,382 2,257,452 1,602,281 21,733,687 10,883,780 2,114,358 18,821,326 5,046,325 154,209 9,902,866 56,951 2,955,179 4,727,221 579,321 4,050,088 281,804 45,065 6,032,642 145,416,129
MTS Rate -
BOARD MEETINGS
Fauji Fertiliser Co
KSE 100 INDEX
Technical Outlook Technical Analysis RSI (14-day)
Brokerage House
Leverage Position
41.95
Support 1
12,084.75
MA (5-day)
12,262.50
Support 2
11,979.10
MA (10-day)
12,345.90
Resistance 1
12,257.15
MA (100-day)
12,082.84
Resistance 2
12,323.90
Target Price
Arif Habib Ltd
165.3
TFD Research
164.95
Recommendations
Arif Habib Ltd AKD Securities Ltd
Leverage Position
RSI (14-day) 53.81 MTS Shares `000 76.00 MA (200-day) 11,856.80 Pivot 12,151.50 MA (10-day) 163.59 MTS Rs `000 9,023.18 144.27 MTS Rate KSE 100 INDEX closed up 92.32 points at 12,190.37. Volume was MA (100-day) MA (200-day) 134.90 ** NOI Rs (mn) 148.99 32 per cent below average and Bollinger Bands were 1 per cent Free Float Shares (mn) 466.49 Free Float Rs (mn) 74,572.67 wider than normal. As far as resistance level is concern, the market Target price for Dec-11 & **Net Open Interest in future market will see major 1st resistance level at 12,257.15 and 2nd resistance FFC closed up 2.64 at 159.86. Volume was 33 per cent above averlevel at 12,323.90, while Index will continue to find its 1st support age and Bollinger Bands were 74 per cent wider than normal. level at 12,084.75 and 2nd support level at 11,979.10. KSE 100 INDEX is currently 2.8 per cent above its 200-day moving average and is displaying a downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect volume flowing into and out of INDEX at a relatively equal pace. Trend forecasting oscillators are currently bearish on INDEX.
Brokerage House
Target Price 405
Recommendations Buy
AKD Securities Ltd
45.52
TFD Research
47.75
Technical Outlook Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
27.99 194.38 203.65 210.09 Free Float Shares (mn) 334.49
14.969 2,128.34 61.88 62,359.83
Target price for Dec-11 & **Net Open Interest in future market
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
65.64 MTS Shares `000 96.45 47.01 MTS Rs `000 3,171.78 42.54 MTS Rate 39.74 ** NOI Rs (mn) 79.73 Free Float Shares (mn) 326.94 Free Float Rs (mn) 15,307.26 Target price for Dec-11 & **Net Open Interest in future market
MCB closed down -1.87 at 186.43. Volume was 429 per cent above aver- FFBL closed up 0.25 at 46.82. Volume was 26 per cent below average and age (trending) and Bollinger Bands were 23 per cent wider than normal. Bollinger Bands were 93 per cent wider than normal.
average volatility over the last 10 trading sessions. Volume indicators reflect
indicating that MCB is currently in an oversold condition.
Nishat Mills Ltd
Brokerage House AKD Securities Ltd
Target Price 68.95
Recommendations Buy
Brokerage House Arif Habib Ltd
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
29.58 MTS Shares `000 275.108 50.28 MTS Rs `000 10,245.20 58.36 MTS Rate 59.64 ** NOI Rs (mn) 53.26 Free Float Shares (mn) 175.80 Free Float Rs (mn) 8,331.16 Target price for Dec-11 & **Net Open Interest in future market
Recommendations
224
Buy
195.41
Buy
Arif Habib Ltd
Buy
AKD Securities Ltd
Positive
TFD Research
245.95
84.65
Leverage Position
Target Price
Buy
TFD Research
Technical Outlook
Brokerage House
Recommendations
97.7 87.61
AKD Securities Ltd
Neutral
Technical Analysis
Engro Corporation
Target Price
Neutral
Technical Outlook
tors are currently bullish on FFBL.
Lucky Cement Ltd
Technical Analysis
Leverage Position
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
55.13 MTS Shares `000 198.50 73.17 MTS Rs `000 10,883.78 70.57 MTS Rate 71.56 ** NOI Rs (mn) 176.76 Free Float Shares (mn) 129.35 Free Float Rs (mn) 9,458.07 Target price for Dec-11 & **Net Open Interest in future market
Positive
Technical Outlook
Technical Outlook
Technical Analysis RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Leverage Position
20.72 148.53 185.41 191.71
MTS Shares `000 53.995 MTS Rs `000 5,845.17 MTS Rate ** NOI Rs (mn) 269.57 Free Float Rs (mn) 25,288.37 Target price for Dec-11 & **Net Open Interest in future market
Free Float Shares (mn) 176.98
POL closed down -0.78 at 358.55. Volume was 47 per cent above average NML closed down -1.75 at 47.39. Volume was 24 per cent above average LUCK closed up 0.18 at 73.12. Volume was 47 per cent above average ENGRO closed up 0.51 at 142.89. Volume was 21 per cent below average and Bollinger Bands were 6 per cent narrower than normal.
and Bollinger Bands were 2 per cent wider than normal. and Bollinger Bands were 44 per cent narrower than normal. NML is currently 20.5 per cent below its 200-day moving average and is LUCK is currently 2.2 per cent above its 200-day moving average and is ENGRO is currently 25.5 per cent below its 200-day moving average and is displaying a downward trend. Volatility is extremely low when compared to the displaying an upward trend. Volatility is relatively normal as compared to average volatility over the last 10 trading sessions. Volume indicators reflect the average volatility over the last 10 trading sessions. Volume indicators ume flowing into and out of NML at a relatively equal pace. Trend forecastmoderate flows of volume out of ENGRO (mildly bearish). Trend forecasting tors reflect volume flowing into and out of POL at a relatively equal pace. ing oscillators are currently bearish on NML. Momentum oscillator is cur- reflect moderate flows of volume into LUCK (mildly bullish). Trend forecast- oscillators are currently bearish on ENGRO. Momentum oscillator is currently
and Bollinger Bands were 54 per cent wider than normal.
POL is currently 13.3 per cent above its 200-day moving average and is displaying a downward trend. Volatility is extremely high when compared
displaying a downward trend. Volatility is high as compared to the average volatility over the last 10 trading sessions. Volume indicators reflect vol-
to the average volatility over the last 10 trading sessions. Volume indica-
Trend forecasting oscillators are currently bearish on POL.
rently indicating that NML is currently in an oversold condition.
ing oscillators are currently bullish on LUCK.
Time
30-Jul 30-Jul 30-Jul 30-Jul 30-Jul 30-Jul 30-Jul 30-Jul 30-Jul 01-Aug 03-Aug 03-Aug 03-Aug 08-Aug 08-Aug 09-Aug 11-Aug 11-Aug 12-Aug 12-Aug
11:30 16:00 10:00 16:00 17:00 10:30 16:00 18:00 10:00 12:00 14:00 10:00 12:30 10:00 10:30 10:30 10:00 14:30 15:00 10:00
TECHNICAL LEVELS
Neutral
Leverage Position
the average volatility over the last 10 trading sessions. Volume indi- volume flowing into and out of MCB at a relatively equal pace. Trend forecast- volatility over the last 10 trading sessions. Volume indicators reflect modcators reflect volume flowing into and out of FFC at a relatively equal ing oscillators are currently bearish on MCB. Momentum oscillator is currently erate flows of volume into FFBL (mildly bullish). Trend forecasting oscillapace. Trend forecasting oscillators are currently bullish on FFC.
Date
Lucky Cement Ltd Haseeb Waqas Meezan Bank Ltd Abdullah Shah Ghazi Sugar Mills Ltd Tandlianwala Sugar Mills Ltd Crescent Sugar Mills Bawany Sugar Mills Ltd Ansari Sugar Mills Ltd Agritech Ltd Allied Bank Ltd Rafhan Maize Products Ltd Nestle Pakistan Ltd Leather up Ltd International Steels Ltd Pakistan Petroleum Ltd Unilever Pakistan Ltd International Industries Ltd Unilever Pakistan Foods Ltd BOC Pakistan Ltd Pakgen Power Ltd
Neutral
Technical Outlook
Leverage Position MTS Shares `000 MTS Rs `000 MTS Rate ** NOI Rs (mn) Free Float Rs (mn)
388.3
Leverage Position
Sell
Arif Habib Ltd
Accumulate
386.5
39.01 MTS Shares `000 17.50 376.91 MTS Rs `000 4,737.48 341.61 MTS Rate 316.34 ** NOI Rs (mn) 263.22 Free Float Shares (mn) 107.95 Free Float Rs (mn) 38,705.84 Target price for Dec-11 & **Net Open Interest in future market
Recommendations
42.2
Hold
TFD Research
Technical Analysis
Target Price
Recommendations
217 209.89
AKD Securities Ltd
RSI (14-day) MA (10-day) MA (100-day) MA (200-day)
Brokerage House
Target Price
FFC is currently 18.5 per cent above its 200-day moving average MCB is currently 11.3 per cent below its 200-day moving average and is dis- FFBL is currently 17.8 per cent above its 200-day moving average and is playing a downward trend. Volatility is extremely high when compared to the and is displaying an upward trend. Volatility is high as compared to displaying an upward trend. Volatility is low as compared to the average
Pakistan Oilfields Ltd
Arif Habib Ltd
Brokerage House
Buy Neutral
Technical Outlook Technical Analysis
Fauji Fertiliser Bin Qasim Ltd
MCB Bank Ltd
Company
indicating that ENGRO is currently in an oversold condition.
Company Al-Abbas Cement Allied Bank Limited Attock Cement Arif Habib Corp Arif Habib Limited Adamjee Insurance Askari Bank Azgard Nine Attock Petroleum Attock Refinery Bank Al-Falah BankIslami Pak Bank.Of.Punjab Dewan Cement D.G.K.Cement Dewan Salman Dost Steels Ltd EFU General Insurance EFU Life Assurance Engro Corp Faysal Bank Fauji Cement Fauji Fert Bin Fauji Fertilizer Habib Bank Ltd Hub Power ICI Pakistan Indus Motors J.O.V.and CO Japan Power JS Bank Ltd Jah Siddiq Co Kot Addu Power K.E.S.C Lotte Pakistan Lucky Cement MCB Bank Ltd Maple Leaf Cement National Bank Nishat (Chunian) Netsol Technologies NIB Bank Nimir Ind.Chemical Nishat Mills Oil & Gas Dev. XD PACE (Pakistan) Ltd. Pervez Ahmed Sec P.I.A.C.(A) Pioneer Cement Pak Oilfields Pak Petroleum Pak Suzuki P.S.O. XD P.T.C.L.A Shell Pakistan Sui North Gas Sitara Peroxide Sui South Gas Telecard TRG Pakistan United Bank Ltd WorldCall Tele
RSI 1st 2nd (14-day) Support 49.42 2.45 2.30 48.32 63.05 62.65 32.05 45.55 44.15 55.10 26.65 26.25 38.93 16.80 16.55 18.64 57.10 56.50 41.26 10.90 10.85 51.12 6.00 5.90 29.04 364.05 362.90 44.26 124.35 123.45 48.38 10.10 9.95 47.56 3.65 3.60 45.25 6.15 5.90 32.08 1.40 1.35 40.31 22.30 22.00 27.17 2.15 2.10 48.79 2.25 2.20 33.03 31.85 31.20 43.77 65.45 63.45 20.76 141.85 140.85 55.39 9.60 9.20 32.83 3.90 3.85 65.62 46.45 46.05 53.81 157.60 155.35 54.55 119.45 118.85 57.73 39.05 38.85 43.59 152.95 152.35 33.59 203.30 201.65 42.13 2.45 2.40 47.94 1.10 1.00 41.01 2.15 2.05 44.21 6.70 6.65 44.83 42.10 41.65 47.71 2.15 2.10 29.26 12.00 11.80 55.11 72.60 72.10 28.03 184.40 182.40 39.04 1.95 1.90 53.66 53.70 53.55 28.84 19.50 19.05 38.88 20.15 19.90 36.79 1.35 1.30 52.77 3.00 2.95 29.59 46.35 45.35 52.70 149.70 145.55 36.61 1.95 1.85 41.40 1.40 1.35 43.16 2.05 2.00 31.09 4.50 4.30 39.03 354.70 350.85 43.72 207.00 205.30 44.71 63.70 63.65 29.86 249.45 248.15 26.51 12.55 12.40 40.37 219.80 219.70 41.50 19.35 19.05 38.91 16.00 15.80 36.19 19.90 19.70 34.27 1.30 1.25 30.25 2.15 2.00 41.85 60.10 59.55 23.22 1.60 1.50
1st
2nd
Resistance 2.65 2.75 63.75 64.10 48.35 49.85 27.50 27.95 17.45 17.85 58.30 58.90 11.15 11.30 6.15 6.25 366.15 367.10 126.10 126.90 10.35 10.45 3.75 3.80 6.70 6.95 1.50 1.55 22.95 23.30 2.25 2.35 2.40 2.50 32.95 33.35 70.10 72.75 144.45 146.05 10.25 10.60 4.00 4.05 47.10 47.35 161.50 163.15 120.40 120.85 39.35 39.50 154.20 154.85 207.80 210.65 2.65 2.75 1.20 1.25 2.25 2.35 6.95 7.05 42.95 43.30 2.25 2.30 12.45 12.70 73.50 73.90 189.10 191.80 2.05 2.10 54.05 54.20 20.40 20.85 20.75 21.10 1.45 1.50 3.10 3.20 49.05 50.70 156.30 158.75 2.05 2.15 1.50 1.55 2.20 2.25 4.90 5.10 362.70 366.85 210.95 213.15 63.80 63.85 252.05 253.35 12.80 12.90 220.00 220.10 19.85 20.10 16.50 16.80 20.15 20.20 1.40 1.45 2.45 2.55 61.10 61.55 1.75 1.90
Pivot 2.55 63.40 47.00 27.10 17.20 57.70 11.10 6.10 365.00 125.15 10.20 3.70 6.45 1.45 22.65 2.20 2.35 32.30 68.10 143.45 9.90 3.95 46.70 159.25 119.85 39.15 153.60 206.15 2.60 1.15 2.20 6.85 42.45 2.20 12.25 73.00 187.10 2.00 53.85 19.95 20.50 1.40 3.05 48.05 152.15 2.00 1.45 2.15 4.70 358.85 209.20 63.75 250.75 12.65 219.90 19.60 16.30 19.95 1.35 2.30 60.55 1.70
7
Stock Review & Continuations
Saturday, July 30 , 2011
Change in sentiments reflects at KSE Nawaz Ali
NEW YORK: Traders work on the floor of the New York Stock Exchange during morning trading.-Reuters
Hong Kong, China shares down HONG KONG: Hong Kong and China shares drifted lower in lackluster turnover on Friday as optimism about the just-started earnings season was cancelled out by concerns over the unresolved United State debt-ceiling crisis. Debt concerns about Europe and the US, along with various concerns on the Chinese economy, have combined to rattle both Shanghai and Hong Kong markets over the past month, as spooked investors stayed on the sidelines despite attractive valuations. But for all the volatility, Hong Kong's Hang Seng Index was flat for July, rising 0.2 per cent. On Friday, it was down 0.6 per cent to 22,440.3 points. For Hong Kong, near-term chart support seen at the index's June low around 21,508.
The Shanghai Composite Index declined more than 2 per cent in July. It slipped 0.3 per cent on Friday and 2.5 per cent for the week, its worst weekly performance in four months. Some big companies will report earnings next week, and some see this as the best chance for pushing for getting gains from China plays. Any lift "will depend on specific companies," said Benjamin Chang, chief executive officer of LBN Advisors, a firm that manages $450 million worth of assets in two China funds. "It's been quite a mixed bag so far." In Hong Kong on Friday, Hang Lung Properties hit a one month low after a profit dip, while AIA Group shares were standout leaders on the day, jumping 3.4 per cent on heavy volume in an otherwise
choppy trading day. The insurance giant that focuses on Asia's more developed markets reported another strong set of quarterly numbers on robust growth in China and Thailand. Investors have rushed in to load up on AIA shares each time there was evidence its business in Asia was growing, supporting the case for above-average valuations relative to its global peers. AIA trades at 18.3 times next year's earnings forecasts, according to Thomson Reuters Starmine. Canada's Manulife trades at 10 times next year's earnings while British insurer Prudential plc, which failed in its bid to buy AIA last year, trades at 11.6 times. SHANGHAI LOWER Energy names led China shares broadly lower on Friday as Shanghai A-share
Indian shares log biggest monthly fall MUMBAI: Indian shares posted their biggest monthly decline in six months and closed 0.1 per cent lower on Friday as investors fretted over slowing domestic growth after a series of interest rate increases and the possibility of a US debt default. State-run explorer Oil & Natural Gas Corp fell 2.9 per cent after it reported quarterly profit that missed street estimates as higher subsidy payments offset gains from a rise in crude oil and gas prices. ICICI Bank firmed 1.9 per cent after the top private sector lender said it expects loan growth at 18 per cent for the current fiscal year and net interest margin should be maintained at 2.6 per cent. The main 30-share BSE index closed 0.07 per cent, or 12.32 points, lower at 18.197.20 points, with 18 components losing ground. It lost 2.8 per cent this week, its biggest weekly decline since the first week of May, and fell 3.4 per cent in July -- its biggest monthly fall since January.
Foreign fund inflows into Indian shares have been fluctuating since last week, trimming their inflows since June 23 to around $2.8 billion. Indian equities have been one of the worst performing ones among major markets in 2011, as hardening interest rates and a slowdown in growth engine hurt. The central bank on Tuesday raised interest rates 50 basis points, showing unexpected resolve in fighting persistently high inflation despite slowing growth and uncertain global demand. Ahuja, who manages around $410 million of stocks for his clients, said he is buying banks and infra stocks as valuations look attractive at this point in time, but is avoiding autos for now as loans get costlier. "It is time to accumulate. August may be rangebound, but things should clear off later and I hope September is exciting for the market," he said. Top carmaker Maruti Suzuki advanced 1.8 per cent after workers at its plant in the north-
ern Indian state of Haryana ended a strike on Thursday. Idea Cellular jumped as much as 5.9 per cent to 95.40 rupees, its highest level in over three years, after the fourthbiggest mobile carrier reported a lower-than-expected 12 per cent fall in quarterly profit. It later closed 4.8 per cent higher at 94.35 rupees. It was the most-traded stock on NSE with a volume of 42.4 million shares, nearly 9 times its 90day daily average volume. Late on Thursday, the stock markets regulator raised the ownership trigger for a mandatory takeover offer in a company to 25 per cent from 15 per cent now, a move that could draw more private equity and other investors into listed companies. The 50-share NSE index slipped 0.1 per cent to 5,482 points. Market breadth was weak, as losers exceeded gainers in the ratio of nearly 2:1 on the NSE, while 678 shares were dealt, higher than the 90-day daily average volume of 584 million shares.-Reuters
turnover declined, nearing its lowest in a month in a fragile market that has been battered by a litany of global and domestic concerns in the last week. China's worst railway accident since 2008 last Saturday, fresh lending curbs to property developers and lingering US debt concerns combined to pummel stock markets on the mainland this week. "It's a monthly performance that's far worse than I thought," said Zhang Qi, an analyst with Haitong Securities. "Earnings could be quite decent, but I'm not sure if it would be anything more than a short-term lift at this point." The Shanghai Composite ended the week at 2,701.7 points. Friday's turnover was 83.5 billion yuan, almost 24 per cent below its 20-day average.-Reuters
UBL profit up 29pc in six months KARACHI: United Bank Limited (UBL) has been announced its financial result for the period ended 1HCY11. The profit after tax was up by impressive 29 per cent to Rs6.70 billion (EPS: Rs5.48) as compared to Rs5.20 billion (EPS: Rs4.25) for the same period last year. Higher net interest income and non interest income remain key drivers of the bank profitability. The Bank also announced an interim dividend of Rs1.5 per share along with results. Interest income of the Bank was by 19.6 per cent to Rs34.06 billion for 1HCY11 against Rs28.48 billion for the same period last year. Interest expenses surged by 24.2 per cent to Rs14.75 billion compared to Rs11.87 billion for 1HCY10. This led to net interest income going up by 16.31 per cent to Rs19.31 billion against Rs16.60 billion for 1HCY10. The Bank recorded Rs4.92 billion as non-performing loans for 1HCY11 versus Rs4.09 billion in 1HCY10, depicting an increase of 20.24 per cent.
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helps boost bilateral trade cooperation, Khuong said. Pakistani Commerce Secretary Zafar Mahmood praised Vietnam's economic development in recent years, saying that impressed many countries in the world, including Pakistan. - NNI
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providing services and support to the investors, he further added. Apprising of the work visa online, Chairman, Board of Investment Saleem H Mandviwalla said, it will lessen the hassle of long documentation and delays in issuing a visa to the investors and they will submit and process visa application online and would also be able to view the application's status as it is changed by the BOI staff. In this way, investors can work legally in Pakistan for their companies that are the subject of the investment. They can travel freely and stay on a prolonged basis with unlimited two-year visa extensions. He further said, soon Ministry of Interior and other stakeholders involved in the visa process would be linked to the visa online service of BOI to provide the visa immediately. He stated that the details of online service are given on web portal www.investinpakistan.com - Online
other areas of mutual interest were discussed during the meetContinued from page 1 No #6 ing. Issues relating to Qatar International Islamic Bank and the party workers, activists and the people of the liberated territory projects being undertaken in Layyah and Dadu district by Qatari for reposing full confidence in him. charity organization RAF also came under discussion. He will take the oath as President of AJK on August 25. - APP President Zardari said that Pakistan greatly values its brotherly Continued from page 1 relations with Qatar and keen to further enhance and promote No #7 mutual cooperation in the areas of economy, commerce, investturned complicated, the CJP asked. Haq also told the court that ment, manpower and energy sectors for mutual benefit of the two he was not able to contact Prime Minister Yousuf Raza Gilani countries.The President reiterated his call for promoting contacts over the relegation of Sohail Ahmed. - NNI
being announced today played a catalyst role in creating bullish sentiment, he added. Trading activities started on a positive note with 32 points up. During the first half an hour market witnessed some mixed activities and index moved on both sides touching its lowest level of the day of 12,047 points (-ve 50). Since the market has been witnessing some bearish activities over the last few days, the investors took benefit of attractive prices and indulged in buying at lower levels allowing the index to bounce back in to the positive zone. The index remained in the positive zone during the remaining part of the session and closed the first half with 65 points up. Bullish activities continued during the second session where at a moment the index touched an intra-day high of 12,216 points (+ve 118). But profit taking reduced the gains and the index closed day just below 12,200 levels. "KSE-100 index closed higher mainly supported by heavy weight OGDC and illiq-
KSE acts to restore investors’ confidence Staff Reporter KARACHI: A meeting of the Board of Directors of Karachi Stock Exchange (KSE) held on Friday where it was decided that in order to ensure investors' confidence and to provide greater degree to comfort to them, the present limit of Rs25 million is enhanced to Rs75 million in case of default by a member and/or expulsion of a member from the membership of KSE.
The default amount would be paid from Investors' Protection Fund, subject to approval of the SECP. This will require utilization of approximate sum of Rs550 million to settle the investors' claims as per the regulations. It was also decided in the meeting to constitute a Committee out of the members of the Board to look into the possibility of providing assistance to existing members of the Exchange.
Companies Forecasts Allied Bank Limited Research House
PAT Rs (mn)
Ghulam Raza Rajani
among business communities of the two countries so to take Continued from page 8 No #1 Energy audit teams had conducted 5,565 energy audits and audit advantage of existing opportunities. Sheikh Ali Bin Abdullah Bin Thani also appreciated the imporwork for 3819 have been completed while at the end of June 2011, and 703 have made payments and 628 motor-pumps sets have been tant role played by Pakistani community in Qatar. The delegation installed while process on other applications are in progress. - APP thanked the President for showing keen interest in exploring further the investment opportunities in the country. - APP demanding the ouster of the dictator regimes and on the other they were having hard times in terms of social and economic conditions. Expressing regret over the non-participation of European leaders in the recent global conference on fighting international terrorism held in Tehran, Saffari Natanzi noted that the issue of terrorism is a real and global issue and all countries should seriously follow up the anti-terrorism measures. - NNI
KARACHI: After some continuous bearish activities in the previous sessions, Karachi Stock Exchange (KSE) bounced back on Friday gaining over 90 points as investors took positions at attractive levels while slowdown in foreign selling too supported the market. The benchmark KSE-100 was up 92 points to close at 12,190 points, KSE-30 index rose by 57 points to close at 11,560 points and KSE allshare index grew by 60 points to close at 8,449 points. "Investors turned bullish in oversold market on expectations of strong earning announcements", said Ahsan Mehanti, Director Arif Habib Investments. It should be noted that the benchmark index had lost around 379 points during the first four days of the week. Record earnings were announcement by Fauji Fertilizer and hopes for no significant change in interest rate by SBP in the monetary policy
EPS
DIV/ BONUS
1HCY11 TFD Research
2QCY11
5,142
5.98
2.00
Invest & Finance Sec 5,111
5.94
1.00
AZEE Securities
5,244
6.10
2.00
Market Consencus
5,166
6.01
2.00
Previous year Result 3,620
4.21
2.00
Lucky Cement Limited Research House
PAT Rs (mn)
EPS
FY11
DIV/ BONUS 4QFY11
TFD Research
3,743
11.57
5.00
Arif Habib Limited
3,799
11.75
5.00
Topline Securities
3,570
11.07
4.00
InvestCap
3,659
11.3
5.00
Market Consencus
3,693
11.42
5.00
Previous year Result 3,137
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9.7
4.00
uid Nestle", said Samar Iqbal, Equity Dealer at Topline Securities. Fauji Fertilizer Company (FFC) was among the major companies that announced their corporate results during the day. The Company posted profit after tax of Rs8.18 billion during the 1HCY11 with an earning per share of Rs.9.65. FFC also announced an interim dividend of Rs4.75 per share. As a result major buying was witnessed in the scrip and it closed the day with a gain of Rs2.64. Investors' participation stayed on the lower side as 46.1 million shares traded during the day which was 18.2 million shares less as compared to a turnover of 64.3 million shares a day earlier. NIB Bank (R) was the most traded scrip with 7.44 million shares followed by Bank of Punjab with 5.39 million shares and Lotte Pakistan with 2.68 million shares. Out of total 325 active issues; 128 advanced and 97 declined while 100 issues remained unchanged.
FFC profit surges to Rs8.18bn Ahmed Siddique KARACHI: Fauji Fertilizer Company (FFC) posted 60.5 per cent growth in net profit to Rs8.18 billion (EPS: Rs9.65) for the first half ending June 30, 2011, compared to Rs5.10 billion (EPS: Rs6.01) for the same period last year. Earnings were mainly driven by higher urea prices and surge in other income. The result was close to the forecast of "The Financial Daily" reporting net profit of Rs8.24 billion (EPS: Rs9.72). Besides that company's has announced a second interim dividend of Rs4.75 per share for 2QCY11 taking the cumulative payout to Rs9.25 per share for CY11. FFC's sales grew by 21.4 per cent to Rs24.22 billion during 1HCY11 as against Rs19.94 billion for 1HCY10. This growth is seen coming mainly on the back of 32 per cent hike in urea prices, despite a decline in volume by 4.2 per cent to 1.18 million tonnes. In comparison the cost of sales came down by 5.27 per cent to Rs10.52 billion in 1HCY11 on account of lower offtake. Consequently, gross profit surged by 55 per cent to Rs13.69 billion as against Rs8.83 billion in 1HCY10, -translating into a surge of 12 percentage points in its gross margin to 56.5 per cent in 1HCY11. Other income of the company was up 89 per cent YoY to Rs2.88 billion for 1HCY11 versus Rs1.52 billion for 1HCY10 mainly driven by Rs4.75 per share dividend from FFBL.
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He said that institutions in the last four years of democracy became vibrant including media and the court and therefore theories are mended against democracy. He said that all know about PPP sacrifices for democracy and strengthening of institutions. Awan said that those who want conflicts among institutions are completely disappointed today. "Those people know that PPP can forward the country and stabilise institutions and therefore they hatch conspiracy against the government," he added. He said that those who want to go with democracy should wait for next elections. Babar Awan said that the time has gone when constitution was violated and any violator and his helpers are equally liable to punishment in accordance with the amended article 6 of the constitution. The PPP government restored position of the institutions as it was in 1973, he said. Awan said, "the government would announce good news for Seraiki areas during this Ramazan and this would be a momentous event in the history of Pakistan." However, he didn't explain as whether a new province is going to be announced or not. To another question, he said that a policy for reducing trade deficit would soon be announced and the people would see many differences in the next two years. He said that symbols of hopes are evident in Pakistan and there is no more room for disappointment in the country as institutions now want to work in accordance with the constitution. Office bearers of the Bahawalpur District Bar Council, Multan Bar Council and Islamabad High court Bar Association were also present on this occasion. - Online
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Governor Khyber Pakhtunkhwa, Syed Qaim Ali Shah, Chief Minister Sindh, Amir Haider Hoti Chief Minister Khyber Pakhtunkhwa, Nawab Muhammad Aslam Raisani, Chief Minister Balochistan, Syed Mehdi Shah, Chief Minister Gilgit-Baltistan, Sardar Yaqoob, President-elect AJK, Ch. Abdul Majeed, Prime Minister AJK, Senator Dr Babar Awan, Rukhsana Bangash, MNA, Fouzia Habib, MNA, Raja Riaz Ahmed, MPA and leader of opposition in Punjab Assembly, and spokesperson to the President Farhatullah Babar. The chief executives of the provinces reiterated their resolve to ensure respect for all state institutions and that they worked in a spirit of harmony and within the parameters of tracheotomy of power as enshrined in the Constitution. The meeting dispelled the notion propagated by some of clash of institutions and expressed satisfaction that there was no danger of any clash among institutions. The meeting said that the Parliament reflected the will of the people and the mother of state institutions and therefore supreme. The meeting also reposed confidence in the leadership of President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani and the steps taken by them to strengthen Parliament and the state institutions. - NNI
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Munter calls on Ebad
Envoy offers US help to pacify Karachi KARACHI: US Ambassador to Pakistan Cameron Munter has offered cooperation to stem target killing incidents in the metropolis. US envoy on Friday visited a memorial built for people martyred in CID blast in Karachi and laid wreath of flowers there. Speaking on the occasion, he said the Sindh Police sacrifices in fight against terrorism were quite appreciable. He said that the sacrifices of 800 policemen who lost life from 1982 to till yet would not go in vain. Voicing his resolve to cooperate with Pakistan to cope with menace of terrorism facing the country, he also offered on part of his government to cooperate to rein in the mounting wave of
7 killed in Quetta attack QUETTA: At least seven people were killed and eight wounded when unidentified assailants attacked a pilgrims bus here on Friday. According to media reports, seven people were killed and eight injured when unidentified assailants attacked a pilgrims bus. The attack took place on Saryab Road in Balochistan's provincial capital. The ill-fated bus was going from Quetta to Taftan, which is Pakistan's only legal official border crossing into Iran The victims were shifted to Bolan Medical Complex Hospital, where emergency was declared. - Online
Singh to visit Pakistan ISLAMABAD/NEW DELHI: Prime Minister Manmohan Singh has accepted an invitation from his Pakistani counterpart Yousuf Raza Gilani and would be visiting there at ''mutually convenient'' dates, according to the foreign office of that country. Foreign minister Hina Rabbani Khar "handed over a letter of invitation from Prime Minister Gilani to Manmohan Singh (who) accepted the invitation and said that he would visit Pakistan at mutually convenient dates", said a press statement from her office. Officials here confirmed that Manmohan Singh had received the invitation but the Ministry of External Affairs and the Prime Minister's Office are tight lipped if the trip was being indeed planned. "The invitation has been extended. That is it. Cannot say more," an official, who did not wish to be identified, told IANS. Hina was on a three-day visit to India during which she held talks with her Indian counterpart S M Krishna and also called on Manmohan Singh. The Prime Minister Singh was born in Gah, a village in Pakistan's Punjab province. His parents migrated to India before the 1947 partition when they came to Amritsar. If finalised, this would be Manmohan Singh's first trip to Pakistan since then. However, this is not the first time Gilani has invited his Indian counterpart for the trip. The Pakistani Prime Minister had invited Manmohan Singh when he visited India in March to watch the India-Pakistan cricket World Cup semifinal at Mohali. Foreign Secretary Nirupama Rao had then said that the government was working out the details of the visit. - Online
target killings in the city. He said that US is ready to provide support to Sindh police, investigation departments and Law Enforcing Agencies. Talking to media, Sindh Inspector General Police (IGP) Wajid Ali Durrani reiterated his resolve to fight terrorists and recounted police measures taken up in this regard. Earlier, US envoy Munter inaugurated a gynae ward costing $4 million during his visit to Jinnah Hospital US ambassador Cameron Munter also held a meeting with Sindh Governor Dr Ishratul Ebad. During his meeting at the Sindh Governor House, Munter appreciated Ebad's return as Sindh Governor, lauding the
role of Muttahida Qaumi Movement Chief Altaf Hussain and President Asif Ali Zardari in this regard. He also appreciated Ebad's approach to reconciliation and resolving all issues through dialogues Cameron Munter Friday visited Jinnah Hospital and inaugurated development projects here. According to details, US envoy paid visit to Jinnah Hospital this morning and laid foundation stone of gynec-ward worth four million dollars. Addressing on this occasion, US envoy said his country wanted a healthy society in Pakistan, adding a healthy society was hinged on healthy mother and child. NNI
Statement on Raiwind center
Security panel summons Malik ISLAMABAD: Parliamentary Committee on National Security has summoned federal interior minister Rehman Malik over his statement that Tableeghi missionary centre in Raiwind is the breeding ground of extremism and terrorism. Pakistan Muslim League (N) and Jamiat Ulema-eIslam (F) voiced strong Protest over the statement of interior minister in the committee meeting. The committee met under the chairmanship of Chairman Parliamentary Committee on National Security Senator Mian Raza Rabbani and was briefed by defense and interior secretaries over country's security situation. The committee chairman after the meeting informed
media men that the committee took strong notice of interior minister statement and directed interior secretary to inform the minister about sentiments of committee. The committee, he said, has also directed interior minister to appear before the committee in next meeting. Meanwhile, Rehman Malik on Friday said a section of media has misquoted him regarding his statement on Raiwind Religious congregation. "I have a great respect for Raiwind Deeni Markaz and religious congregation there, but I was misquoted and my statement was published after twisting and distorting the actual wording," he said.Online
Indonesia to limit individual bank ownership JAKARTA: The Indonesian central bank plans to limit individual bank ownership at a bank as an effort to make the banking sector more financially prudent, central bank deputy governor Muliaman D Hadad said here on Friday. The plan was made as Indonesia's banking credit grows fast recently by an average of over 20 per cent per year. The deputy said under the planned policy an individual should have shares in one bank less than 50 per cent in order that no one investor could control or dominate the bank. Nevertheless, the precise por-
tion of shares that could be owned had not been determined yet, he said at the central bank office. The bank has not determined yet when the policy would be applied, said Hadad. Currently, the Indonesian authorities have allowed an investor to have a stake by up to 99 per cent in one bank in Indonesia in an effort to boost economic growth following the financial crisis in 1998-1999 during which many banks were liquidated. There are over 100 commercial banks in Indonesia, 47 of which are dominantly owned by foreign investors. - NNI
Pak-Vietnam trade hits $90mn in 4mths HANOI: The Vietnam Chamber of Commerce and Industry (VCCI) and the Trade Development Authority of Pakistan held here on Friday a workshop on trade cooperation between the two countries, with the hope to provide opportunities for both sides' businesses to exchange information and expand their business cooperation. Bilateral cooperation between Vietnam and Pakistan have finely developed over the past years, with two-way trade turnover reaching $222.7 mil-
lion in 2010 over $80 million in 2005. In the first four months of 2011, it hit nearly $90 million, VCCI Vice President Doan Duy Khuong addressed at the workshop. The two countries established diplomatic relations in 1972 and have signed agreements and memorandums of understanding in various areas, including diplomacy, trade, finance and banking, sciences and technologies and aquatic culture. Those documents are important legal framework that See # 3 Page 7
KARACHI: Sindh Governor Dr Ishratul Ebad Khan talking to US ambassador Cameron Munter at Governor House.-APP
Hina briefs President, PM on India's visit ISLAMABAD: President Asif Ali Zardari and Prime Minister Syed Yousuf Raza Gilani Friday reiterated that Pakistan desires to have good neighborly relations with all the regional countries including India, in the larger interest of the welfare of the people of South Asia. Talking to foreign minister, Hina Rabbani Khar separately, President and Prime Minister said, the continuation of dialogue process with India would help both the countries to improve environment as well as facilitate discussions on all issues of concerned between the two countries, sources said. The Foreign Minister briefed both the high ups on her visit to India and outcome of talks. - Online
Banks timings in Ramazan TFD Report KARACHI: The State Bank of Pakistan (SBP) has announced the business (banking) and office hours during the ensuing holy month of Ramazan. All banks, development finance institutions (DFIs), microfinance banks (MFBs) and field offices of SBP Banking Services Corporation (SBP BSC) will observe the business (banking) hours from 8:30 am to 1:00 pm (without break) from Monday to Thursday & Saturday during Ramazan. Their Friday business timings will be from 8:30 am to 12:00 pm (without break). However, SBP, SBP BSC, banks, DFIs and MFBs will observe office hours from 8:30 a m to 1.45 p.m. (without break) from Monday to Thursday & Saturday during Ramazan-ul-Mubarak. Their Friday office timings will be from 8.30 a.m. to 12.30 p.m. (without break).
Puppet regimes cause of ME uprising: Iran MADRID: Islamic Republic of Iran's ambassador to Spain, Morteza Saffari Natanzi, said that the recent Islamic awakening and political developments in the Middle East and North African countries are attributed to the nature of the pro-West dictator regimes. 'We believe that these developments are rooted in the society and they have happened in countries where dictator and pro-US regimes rule,' the Iranian envoy said in a press conference attended by Spanish media reporters. Saffari Natanzi pointed out that the people of the Middle East and North African countries were on the one hand See # 2 Page 7
Rs73mn tax evasion in Papco, Parco LAHORE: The internal audit team of Customs detected tax evasion of Rs73 million on dutiable petroleum products (High Speed Diesel) of Pak Arab Pipeline Company Limited (PAPCO) and Pak Arab Refinery Limited (PARCO) at the time of exbonding. Official sources told APP here Friday that team audited the customs duties and other taxes at the bonded warehouses of M/s Papco and M/s Parco, Mahmood Kot, Muzaffargarh for the period of July 1, 2008 to April 30, 2011. According to details, Mehmod Kot bonded warehouse receives non duty paid
imported HSD from Papco which is transported from Port Qasim through pipeline from Karachi under customs safe transportation. Papco maintains record of HSD oil for delivery to joint installation of oil marketing companies (JIMCO) Mehmood Kot on the payment of duties and taxes, whereas the rest of the oil is transferred to Faisalabad and Machike under safe transportation. About Parco warehouse, it is only used in case of duel product movement (Crude and HSD) through Kemari Korangi pipeline. Inter-mix generated in the Kemari Korangi pipeline is documented on the comple-
tion of the pipeline operation and is transferred through Parco pipe line system to Parco Mahmood Kot under proper safe transportation. The duties and taxes on this inter-mix HSD oil quality is paid by the respective oil marketing companies (OMCs). During thorough audit, it was revealed that incorrect application of "petroleum development levy" (PDL) by Model Customs Collectorate, Multan caused huge monetary loss to national exchequer. It was further pointed out that customs duty and sale tax was deposited but PDL was evaded on the said good declared. - APP
Pak vows support banning fissile material UNITED NATIONS: Reaffirming its opposition to a US-backed treaty to ban production of fissile material used as fuel for nuclear weapons, Pakistan on Thursday warned that it would boycott any process to negotiate that treaty outside the deadlocked UN Conference on Disarmament-the sole negotiating forum for multilateral disarmament. Speaking in the UN General Assembly, acting Pakistani ambassador Raza Bashir Tarar struck a "note of caution" against taking negotiations for the Fissile Material Cut-off
Treaty (FMCT) outside the 65member Conference, saying, "Pakistan will not join any such process nor would it consider accession to the outcome of any such process". Despite pressure from some nuclear powers over the last two years, Pakistan has been blocking the launching of negotiations on the proposed treaty at the Geneva-based Conference on Disarmament on the ground that it is prejudicial to its national security interests. The Pakistani delegate also said that the discriminatory policies pursued by some major
powers regarding nuclear cooperation - an obvious reference to US-India nuclear deals -have created insecurities and imbalances. "These policies, by sacrificing international non-proliferation goals at the altar of power and profit, have accentuated the asymmetry in fissile material stocks in our region," he said while addressing the 192member Assembly's follow-up gathering on last year's highlevel meeting on the Conference on Disarmament and Multilateral Disarmament Negotiations. - APP
USAID introduces financial system for Discos To assist saving 1000MW ISLAMABAD: The USAID Power Distribution Improvement Program (PDIP) organized a workshop of senior distribution companies (Disco) management to introduce latest financial management system as part of the assistance from USAID to Discos to improve their accounting manuals, internal audit management system and preparing Enterprise Resource Planning (ERP), here on Friday. According to press release issued here on Friday, the workshop was attended by the chief financial officers and finance directors of the eight government-owned power distribution companies of Pakistan. This assistance to Discos is provided as part of the US commitment to support the government of Pakistan in reforming the energy sector and addressing the problems of DISCOs. The US Agency for International Development (USAID) implements these assistance programs, which also support trainings of Disco staff in Information Technology, capacity building of Discos' Board of Directors and staff, completion of dams and renovation of power plants.
The review and updating of financial management systems shall bring positive improvements in the overall performance of Discos which also include getting updated accounting manual, improvement in the internal audit system and preparation for the implementation of an Enterprise Resource Planning (ERP) environment. Senior representatives of power distribution companies (Discos) including Lesco (Lahore), Mepco (Multan), Gepco (Gujranwala), Pesco (Peshawar), Iesco (Islamabad), Qesco (Quetta), Hesco (Hyderabad) and Fesco (Faisalabad) attended the workshop. In another development, USAID has launched Tube Well Efficiency Improvement Programme (TWEIP) that can save about 1000 MW electricity in Pakistan. The project has already been launched by the USAID and under TWEIP, the USAID has been providing 50 per cent financial assistance to replace highly inefficient irrigation tube well motor-pumps with more energy efficient motorpumps to reduce demand and save energy.
USAID's acting deputy director John Morgan while launching the public campaign for TWEIP project for agriculture sector here on Friday said the campaign is sponsored by the US government as part of the United States commitment to support Pakistan in strengthening the country's energy sector. John Morgan said about 230,000 of the tube well pumps in Pakistan are connected to the national power grid and consume 10 per cent of electricity. He said US energy assistance, delivered by the USAID, includes a number of programmes that will increase energy production capacity by approximately 600 MW. He said it is Pakistan's firstever energy efficiency campaign for the agricultural sector. "The campaign will inform farmers around the country how they can help reduce energy usage and how they can save costs for themselves," he added. So far 7,010 farmers had shown interest for this project including 2557 who have deposited the Rs1,500 commitment payment. See # 1 Page 7
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