Aug 07 - 13, 2000
Intel moves up from 7th to
4th most valuable consumer brand
Coca-Cola is about to lose its status as the world's most valuable
brand to Microsoft with old economy names making way for the new, the Financial Times
An annual survey by U.S. consultancy firm Interbrand to be published on
Tuesday would show Coca-Cola was still worth a massive $72.5 billion but was down 13 per
cent from its value in 1999, the FT said. Microsoft's brand value rose 24 per cent to
$70.2 billion over the same period, despite its U.S. anti-trust woes, meaning it was just
about to overtake the Atlanta-based fizzy drink icon.
Interbrand analyses earnings forecasts for the world's best consumer
brands and translates these into brand valuations. The rankings showed other established
old economy brands suffering against the newer names. Poor performers included Kodak, down
20 per cent, Xerox,down 14, and Procter & Gamble, where the combined value of its
brands such as Pampers and Tide was estimated as down two to $48.3 billion. Ericsson was
the only major loser among tech stocks down 47 per cent to $14.8 billion
while its communications hardware rival Nokia surged 86 per cent to $38.5 billion.
Newcomers among the 75 brands worth more than $1 billion were headed by
Cisco Systems at $20.0 billion. The list included media stocks for the first time
with the MTV, Wall Street Journal, and Financial Times brands all coming in above the $1
Interbrand's top 10 as reported by the Financial Times:
1. Coca-Cola $72.5 billion
2. Microsoft $70.2 billion
3. IBM $53.2 billion
4. Intel $39.0 billion
5. Nokia $38.5 billion
6. General Electric $38.1 billion
7. Ford $36.4 billion
8. Disney $33.6 billion
9. McDonald's $27.9 billion
10. AT&T $25.5 billion
Intel introduces pentiumŪ III processor at 1.13 gigahertz
Intel Corporation introduced the IntelŪ PentiumŪ III processor at
1.13 GHz (gigahertz), the world's highest performance microprocessor for PCs.
"Intel's Pentium III processor reaches a new level of performance
with 1.13 GHz, enabling Intel's customers to ship the world's fastest PC platforms,"
said Bill Siu, vice president, Intel Architecture Group, and general manager, Desktop
Platforms Group. "With the Pentium III processor at 1.13 GHz, PC enthusiasts will be
able to get the most out of the Web and the high performance applications they use
Using BAPCo's SYSmark* 2000 benchmark running under Windows* 2000, the
Pentium III processor 1.13 GHz delivers a system-level performance score of 208 compared
to a score of 197 on the Pentium III processor at 1 GHz.
MCB Annual General Meeting
Muslim Commercial Bank earned a profit after tax of Rs.569 million
during the year ending December 31, 1999 which was 42.5% higher than the preceding year,
Mian Muhammad Mansha, Chairman of the Bank made this announcement at the Annual General
Meeting of the Shareholders of the bank.
The meeting also approved giving of a cash dividend of 15% and a bonus
of 10% to its shareholders for the year 1999 as compared to a cash dividend of 17.5% for
the year 1998. The Shareholders were also informed that after making the necessary
appropriations for cash dividend and bonus shares, another Rs.113.7 million had been added
to the Statutory Reserves to raise it to a healthy Rs.1.436 billion.
The Chairman informed the members of the bank that last year the
country's economy demonstrated a mixed trend mainly due to impact of economic sanctions
following the nuclear explosion in 1998. Still, Mian Mansha felt, that the bank could look
back at its performance during 1999 with a lot of satisfaction as it achieved better
operational results in a number of areas.
Not only profit after tax posted a substantial increase over the
preceding year, the Bank registered a rise in Deposits which stood at over Rs.130 billion
on December 31, 1999, despite the depressed economic activities.
The sale of Rupee Traveler Cheques was around Rs.100 billion, showing a
growth of 45% in twelve months. The MCB RTC sale in fact was more than double of the
combined sale of RTCs of all other banks in Pakistan in 1999. Three International Banks
i.e. Faysal, ABN Amro and Gulf Commercial, started the use of MCB RTC in their operations.
On the loan recovery front, MCB had significantly high recoveries
compared to preceding year. During 1999 bank recovered Rs.1.30 billion from classified
portfolio alone. The bank recovered Rs.727.75 million representing 56% of the total cash
recovery. Over Rs.54 million was recovered from written off accounts and over Rs.40
million from property sales.
On December 31, 1999, the bank had over 4.5 million Account holders in
its 1215 branches located all over the country and 12,557 employees, down from 14,729 in
1996 when the down-sizing of Bank commenced to improve its profitability.
MCB's ATM Card Holders touched nearly 100,000 mark (the highest for any
bank in Pakistan) who could draw cash from 80 machines located in 11 major cities of
Pakistan. To increase the utility of ATM services, MCB linked its ATM network to Master
Card, Cirrus and Maestro thus becoming part of the largest ATM network in the world. A
strategic decision was taken to establish an ATM switch and open its ATM network to other
banks. The ATM switch has been named MNET and four International Banks have already signed
MOU's for linkage.
Mian Mansha disclosed that a decision has also been made to initiate
state-of-the-art automation of branches to cater for future needs, improve productivity,
service quality and profitability. Recognizing the need to cater to changing competencies,
skill sets and succession needs, the bank had continued to invest in and focus on the
employees development and training, as well as annual recruitment of Management trainees.
He thanked Ministry of Finance and State Bank of Pakistan for providing valuable support
and guidance to the Bank during the year.
At the Annual General Meeting nine Directors were elected for the next
three years: Mian Mohammad Mansha, Mr.Tariq Rafi, Mr.S.M.Muneer, Sh.Mukhtar Ahmad,
Mr.Mohammad Arshad, Mr.Shahzad Saleem, Mr. Raza Mansha, Mr.Sarmad Amin, Mr.Umer
Independence Day Brunch at the Karachi Sheraton
The 53rd Independence Day of Pakistan will be celebrated at the Karachi
Sheraton Hotel & Towers at a delightful Independence Day Brunch. This fun-packed
family event will be held on Sunday, August 13, 2000 at Sheraton's all-day dining
restaurant, Al-Bustan. The Brunch will serve the popular breakfast items, continental and
Pakistani dishes, kids corner, crunchy salads, cold cuts and delectable desserts from the
NBP Appoints new Chief Finance Officer
Masood Karim Sheikh, Senior Executive Vice-President of the National
Bank of Pakistan, has recently been appointed the Chief Finance Officer of the Bank. He
previously headed the Treasury Management Division of NBP.
Mr. Sheikh's previous responsibilities will now be handled by Muhammad
Nusrat Vohra, Executive Vice-President, the recently appointed Head of Treasury Management
Incorporated on November 8, 1949, the National Bank of Pakistan
performs sub-treasury functions on behalf of the State Bank of Pakistan.