Mr. Luca Mignini, Regional Head and vice President
of S.C. Johnson & Son of Pakistan Limited has said that the
success of his company is solely attributed to its People.
He was speaking at a seminar on the theme of
"Challenges of Managing a Regional Business" organized by
Management Association of Pakistan in a local hotel recently. He
quoted Mr. F.H. Johnson as having said — "The goodwill of the
people is the only enduring thing in any business. It is the sole
substance- the rest is shadows".
Mr. Mignini is responsible for managing company's
business in China, Taiwan, Hong Kong, Vietnam and Pakistan. He said
that S.C. Johnson & Son is a family company but it has always
focused on the development of its people. In addition to it, their
growth and success is also a result of sophisticated market research
analysis, responsive product development and creative global marketing
efforts that clearly demonstrate their understanding of and commitment
to providing consumers the best choices to enhance the quality of
Mr. Mignini talked about how the integration of a
local brand acquisition (FINIS) was successfully completed by S.C.
Johnson Pakistan. He also briefly touched upon the future prospects
and growth potential of the business in Pakistan.
DEWAN MOTORS BMW GROUP'S NEW PARTNER IN PAKISTAN
BMW Group Middle East announced that Dewan Motors,
a division of the Dewan Mushtaq Group — Automotive Operations, has
been appointed the exclusive importer for BMW cars in Pakistan.
The new partnership was celebrated at an exclusive
reception held at Expo Centre, Karachi, attended by the Acting
President of Pakistan, Mr. Mohammad Mian Soomro and dozens of other
VIPs. Earlier, Dewan Motors announced heavy investment in prestigious
state-of-the-art BMW showrooms and after sales centres in Karachi,
Lahore and Islamabad.
"Today, with Dewan Motors, we have moved
forward into a new era in Pakistan, one that will strengthen BMW
Group's position as the leading premium car manufacturer in the
country," said Robert Bailey-McEwan, Managing Director, BMW Group
Dewan Motors' BMW showroom in Islamabad is located
in the Blue Area, the city's prime business centre, close to the
Diplomatic Enclave. A separate service facility is to be constructed
this year. In Karachi, a showcase showroom and after sales centre,
designed by BMW Group in Germany, wit be completed by 2005. In the
meantime, Dewan Motors will utilize temporary showroom and service
facilities. In Lahore, the new BMW showroom and service facility will
open before the end of May.
STATE LIFE'S TOTAL PREMIUM INCOME REACHES RS.9.5
BILLION IN 2003
"State Life Insurance Corporation of Pakistan
has successfully procured Rs.1.66 billion as New Business (First Year
Premium) which is 110.57% of the actual business target of Rs.1.50
billion while extending financial protection to 183,595 new
policyholders and their families nationwide during the year
2003". This was stated by Mr. Rasool Bakhsh Baloch, Chairman
State Life while talking to the senior media persons at the inaugural
session of 4 days State Life Regional Chiefs and Zonal Heads
Conference 2004. Executive Directors, Mr. Muhammad Javed Khan, Mr.
Zafar Mahmood, Mr Muhammad Latif and Mr. Zahid Murad and Senior
Corporate and Marketing Executives were present on the occasion. Mr.
Rasool Bakhsh Baloch while highlighting the corporate performance of
State Life informed that the market value of Life Fund of State Life
has reached at Rs. 120 billions while the investment portfolio stood
at Rs.96,490 million. Mr. Baloch infortned that the total premium
income of State Life in 2003 stood at Rs.9.5 hillion as compared to
Rs.7.6 billion in 2002 showing an increase of 24.51%. Mr. Baloch said
that State Life is leading the life insurance industry as it holds
more than 80% market share with the paid up capital of Rs.900 million
that is highest in the life insurance industry. The Chairman said that
State Life is the only organization that distributes 97.50% of its
actuarial surplus to its valued policyholders in the form of
"Bonuses" and the remaining 2.5% goes to the Government of
Pakistan while replying to a question. Mr. Baloch added that State
Life is the country's largest Real Estate owner has 52
State-of-the-Art Architectural buildings network constructed across
the country having the office rental space of 20,48,987 sq. ft. which
is a hallmark of its strength and stability. Mr. Baloch informed that
construction of a nineteen storey State Life Tower has started at
Islamabad which will be completed in three years time. The Chairman
State Life went on to say that State Life is the country's first
multinational life insurance service provider operating in Saudi
Arabia, Kuwait and the UAE Region. Mr. Rasool Bakhsh Baloch reiterated
that State Life will continue to provide financial services and
protection to millions of its valued policyholders both in individual
and group life while expanding its operations to cover the 75%
untapped life insurance market in the country through the committed
marketing force. Earlier, Mr. Zafar Mahmood, Executive Director
(Marketing/G&P) while highlithting the business performance
informed that State Life has secured Rs. 2.22 billion as total Group
Premium Income showing an increase of 58.75% in 2003 by securing 259
new groups while the Gulf business stood at Rs.395 million by securing
1,733 new policies in that region. Mr. Zafar said that business wise
Central Region has topped by securing Rs.55.94 crore, Northern Region
Rs.43.79 crore, Southern Region Rs.40.44 crore and Multan Region
Rs.26.58 showing an increase of 33.82%, 31.24%, 41.31% and 40.28%
respectively. Mr. Zafar said that the renewal premium stood at Rs.5.23
billion in 2003 as compared to Rs.4.65 billion in 2002 while the
second and third year persistency stood at 79.57% and 91.46%
respectively. The Executive Director, said that State Life aims to
provide the quality financial services and savings to all the family
units in the country. Mr. M. Jawaid Khan, General Manager, Marketing
welcomed the delegates of the State Life Conference 2004. Shields and
awards were distributed amongst the Zonal Heads on outstanding
business performance during 2003.
NCR ACHIEVES CMM LEVEL III CERTIFICATION IN
NCR Corporation's professional services
organization in Pakistan has become CMM Level III Certified along with
qualification for a key process area at level 4. CMM is now regarded
as the de facto standard for any organization engaged in providing
professional services around the globe.
"The achievement is unique and truly
establishes NCR as an organization par excellence in Pakistan. It also
represents the reaching of another milestone for NCR in the country
after having achieved the status of a Center of Expertise for the
Europe, Middle East and Africa (EMEA) region. I am delighted that NCR
has set yet another benchmark in the industry, which will go a long
way toward giving other companies the incentives to go for CMM
certification," said Syed Veqar ul Islam, general manager for NCR
Corporation in Pakistan.
NCR's Pakistani professional services team has
achieved this certification only five months after their successful
assessment at level 2. "This success is definitely an achievement
for the country as NCR is the second organization in Pakistan to be
certified at level 3 and the first ever to qualify for a key process
area at CMM Level 4. Our target is to maintain the internal process
improvement efforts in our organization and ensure optimization of our
project delivery processes in order to minimize the risks and ensure
success for our valued customers," said Faisal Khaliq,
professional services manager for NCR in Pakistan.
In the last two and a half years, NCR has
consolidated its role as a Center of Expertise for the entire region,
by driving implementations for customers across EMEA. CMM Level 3
certification further establishes NCR as an information technology
organization that has the capability, the processes and the
credentials to deliver on its commitments.
ALLIANZ EFU APPRECIATES HEALTH ASIA 2004
With the aim of providing the option of an
efficient and customized health care delivery model affordable to the
common man, Allianz EFU, the leader in healthcare, participates in
Health Asia 2004, the biggest and the first ever health event in the
history of Pakistan.
Organized by the Federal Ministry of Investment
& Privatization, Ministry of Health and Board of Investment in
collaboration with E-Commerce Gateway Singapore, Smart Health Care and
National University Hospital Singapore, the event is highlighting the
potentials of the health sector. Amongst the co-organizers of the
event are Islamic Chamber of Commerce, Export Promotion Bureau,
Government of Sindh and Commerce Net Singapore.
Providing immense opportunities of information
sharing & cooperation, Health Asia additionally provides the
necessary awareness about the health care system of Pakistan.
Improving the quality of life of the Pakistani
citizen, as a serious business objective, Mr. Ahmir ud Deen, CEO,
Allianz EFU stated, 'Allianz EFU appreciates Health Asia 2004;
initiative and supports all steps in this direction. The Quality of
life of the common man is an important matter that affects all
countries of the world; an efficient health sector naturally plays a
major role in shaping lives. There is tremendous opportunity for
development and progress in the health sector of Pakistan'.
Allianz EFU is Pakistan's first and only
specialized health insurance company. It is the only company that
offers health insurance solutions to individuals, families, companies
and volunteer groups. Allianz EFU Health Insurance is a joint venture
between Allianz Group and EFU Group. Founded in 1890 in Germany,
Allianz AG has 60 million clients in over 70 countries, with a broad
range of services via an international network of subsidiaries.
MCB TERM FINANCE FACILITY
Muslim Commercial Bank have signed a Term Finance
deal for Pak Rupees 200.0 million with M/s. Tetra Pak Pakistan Ltd at
Lahore. Which will be used to enhance it production capacity to meet
the growing market requirements.
At present producing around one billion packs a
year proving major player in the packing material market.
Tetra Pak is a joint venture between Tetra Laval
Holding & Finances S A (Sweden) and M/s. Packages Ltd. They are
principally engaged in manufacturing and sale of packaging material
for food items and sale of filling machine's spare parts.
Muslim Commercial Bank as an active player in the
market, striving to cater long term & short term requirement of
the corporate sector by providing value added financial solution
matching customers needs.
Mr. Mohammad Aftab Manzoor President Muslim
Commercial Bank and Mr. Lars Norrman, Managing Director M/s. Tetra Pak
Pakistan Ltd signed the agreement on behalf of their respective
origination. Also present at the occasion were Mr. Aamer H. Zaidi SEVP/Group
Head Corporate & IBG, Mr. Imran Maqbool EVP Corporate North Lahore
MCB, Mr. Haroon Lodhi Director Finance Tetra Pak and others.
NATIONAL BANK OF PAKISTAN SIGNS PKR 1.25 BILLION
LOAN ACCORD WITH INSTAPHONE
National Bank of Pakistan, the Country's largest
Commercial Bank, has structured and financed Instaphone, a division of
Pakcom Ltd, Pakistan's oldest cellular company, a financing facility
of PKR 1.25 Billion.
An offficial Signing Ceremony took place at the
NBP's Head Office.
Syed Ali Raza, Chairman & President, National
Bank and Mr. Iain Williams, Chief Executive Offficer, Pakcom Ltd
signed the Loan Accord. Mr. Masood Karim Shaikh, Group Chief &
SEVP, Corporate & Investment Banking Group, Mr. Jawaid Iqbal,
Corporate Banking Head South, Ms Fareena Lodhi, Team Leader CIBG and
Mr. Ali Afzal, Relationship Manager represented National Bank. Mr.
Kevin O. Sullivan, Chief Financial Offficer represented Pakcom Ltd
along with Ms. Kiran Ahmed, G. M. Corporate Finance and Mr. Muhammad
Ahmed, National Treasury Manager.
Instaphone has the widest cellular network in
Pakistan, with over 185 cities nationwide. Currently offering the best
value for money, optimum digital services including SMS and Instaphone
post-paid, Insta One and Insta Xcite pre-paid products to tap all the
market segments, Instaphone will be expanding its network in 2004, to
a capacity of 1 million customers, provide the best quality services
in the market, International SMS to over 600 cellular operators
worldwide and extending to more new cities in Pakistan.
NBP offers a comprehensive range of financial
products for its corporate and consumer customers, which includes
working capital finance, project finance, trade finance, consortium
& syndicate finance, and other specialized financial products. NBP
has structured and financed various local & offshore financing.
Apart from individual contribution in the corporate world, NBP has
also entered into a number of Syndicates & Consortiums for the
establishment and restructuring of various public and private
NBP has always showed its promise to support
Pakistan's emerging & potential economic sector, Pakcom being one
of the leading Cellular Communication Company, operating in the vastly
potential Telecom Sector, has been in cordial relationship with NBP
for the last 3 years and with this Structured financing, the
relationship seems a long lasting one as the fundamentals of Telecom
Sector and Pakcom portrays an optimistic future.