Apr 19 - 25, 2004

 

MS&L NAMED PR AGENCY OF THE YEAR

Manning Selvage & Lee (MS&L), the New York-based international Public Relations network, represented in Pakistan by CMC, has been named the 'Agency of the Year 2003' by The Holmes Report, a globally respected U.S. trade publication covering the PR industry.
Syed Jawaid Iqbal, President & CEO of CMC said, 'We are very proud to be business partners with MS&L in bringing international Public Relations standards to benefit the emerging markets in Pakistan. MS&L is particularly noted for its leadership in PR industry activities and its expansion of client relationships to new geographies and areas of focus, and we feel that some of its innovations could work very well over here.''

 

 

AWARD FOR MANSHA

Begum & Tariq Rafi Chairman, Siddiq Sons Group of Industries hosted a dinner to celebrate/congratulate Begum & Mian Mohammed Mansha for receiving state award, Sitara-e-Imtiaz at his residence. A large number of dignatories from different walk of life attended the Dinner.

PAKISTAN-TURKISH TRADE FLOURISHING

Ambassador of Turkey to Pakistan His Excellency Mr. H.Kemal Gür, accompanied by the Turkish Commercial Counsellor Mr.Recep Demir and a Turkish businessmen Vedat Mirmahmutrgb called on the Islamabad Chamber of Commerce & Industry (ICCI) and held useful discussion about bilateral trade and investment between Turkey and Pakistan.

Ambassador Kemal Gür stated that he anticipated improvement in the bilateral trade from the present-low figure of US $ 135 million to US$ 300 million following the useful meetings held recently between the Turkish Prime Minister and Pakistan Prime Minister and interaction between the business communities in the two countries. The Turkish Prime Minister and his entourage of Turkish businessmen had visited Pakistan a few months ago. He also indicated that increased trade promotion under the ECO member countries was visualized following the recent meetings held at the highest level.

The Chief representative of DIZAYNG Group in Turkey, who accompanied the Turkish Ambassador, explained to Pakistani businessmen at the meeting that his Group produces plastic pipes and fittings and has achieved the distinction of being one of the three companies in the world that produces the pipe with 1600 mm diameters as a single piece with recorded length of 500 meters. He offered to collaborate with Pakistani businessmen in the production of these pipes by establishing a business joint venture in Pakistan. The businessmen present at the meeting evinced interest in the product and agreed to follow up on the prospects of establishing a joint venture.

Mr. Zubair Ahmad Malik President of Islamabad Chamber of Commerce & Industry welcomed the Turkish Ambassador and his colleagues. He stressed on the importance of increasing bilateral trade between the two Muslim countries and urged Pakistani businessmen to explore the prospects of joint venture investment proposed by the Turkish representative of DIZAYN Group. He offered ICCI's full support to promote bilateral trade ties. An insignia of the Chamber was presented to the Turkish Ambassador in appreciation of his visit to ICCI.

SSGC SPONSORS WWF PROGRAMME

Sui Southern Gas Company Limited (SSGC) is providing support to the World Widelife Fund (WWF) campaign for environmental awareness among school children under its Corporate Social Responsibility program. The Company places special emphasis on Corporate Social Responsibility and continues to make dedicated endeavours through a wide range of projects, particularly in the areas of nature conservation and education.

For the betterment of community Sui Southern Gas Company Limited (SSGC) is sponsoring social welfare projects at Ghari Khairo for the local community. The company has taken steps to conserve the ancient and valuable juniper forests in Ziarat through supply of alternate fuels. SSGC will provide financial support for the establishment of Petroleum, Oil and Gas Engineering Faculty in NED University. To provide a cleaner environment to the citizens, SSGC has taken steps for tree plantation scheme of approximately 100,000 trees and for up-gradation of roundabouts and parks at company's locations. During the 2003 rain disaster, SSGC provided funds and relief goods for rain affectees.

ENVIRONMENTAL EDUCATION

 

 

The Ministry of Environment and the Ministry of Education have jointly begun the implementation of Rs 26 million project called "Environmental Education Promotion at School and College Level". The objective of the project is to integrate environmental concepts in the formal education system at the primary, middle, secondary and higher secondary levels throughout all districts of Pakistan. It aims to address the lack of environmental awareness in Pakistan, which has been termed as one of the key contributing factors to rapid degradation of environment and the ensuing poverty in the country.

The project will target more than 200,000 educational institutions and 26 million students throughout Pakistan and will introduce core environment subjects as part of the syllabus from grade one to twelve. The project will bring attitudinal and behavioural changes within young people in support of conservation and sustainable development.

INBOX ENABLES WIRELESS HOTSPOTS ACROSS THE COUNTRY

Inbox Business Technologies (Pvt.) Ltd have taken the lead initiative to offer wireless connectivity for business travelers via making leading hotels across Pakistan into hotspots. Travelers who are equipped with notebook computers which has integrated wireless LAN capability, as available with Intel® CentrinoTM mobile technology can now truly experience 'anytime' 'anywhere' computing phenomenon.

At present there are fourteen hotspots enabled by Inbox across Pakistan and the company is aggressively working on making more public locations into hotspots this year. Hotspots are an increasingly popular way to work and play whilst on the go. Basically a hotspot is a place where one can access Wi-Fi (Wireless Fidelity) Internet service i.e. without having wires connected to your notebook.

AUTOMOBILE AND FINANCING MOOT IN MAY

First ever conference on automobile and financing will be held in next month at a local hotel in Karachi.

Naeem Qureshi, Chief Organiser of the event, said that the objective of the conference is to highlight the growth and development of auto industry and financial sector, auto financing facilities available to the customers, role of the urban transport and its impact on auto industry.

Qureshi said that the participants would also discuss government policy on import of automobile including re-conditioned cars.

Prominent professionals from auto industry, finance, insurance, vendor industry and the policy making mechanism share their views during the conference.

VIRTUAL UNIVERSITY'S PRESENTATION AT HERITAGE MULTAN

A delegation of the Virtual University of Pakistan led by Dr. Shafaat Bokharee, Director Administration, visited HERITAGE, a non-government organization in Multan and presented the scope and objectives of the university to its senior management.

The significance of distance learning for higher education was discussed in detail between officials of the two organizations concluding that there was an urgent need for students from far-flung areas of the country to have access to quality and affordable education.

Dr. Bokharee while speaking to the officers of Heritage said, "The Virtual University of Pakistan is making significant progress in attracting students from all over Pakistan for its 4-Year BS Programs. We have more than 4000 students enrolled with us who are being imparted quality education by a talented and experienced faculty, including many Ph.Ds. The first batch of VU students will graduate in 2006."

ARIF HABIB BROKERS DEAL BETWEEN DEWAN AND ALLIED GROUP

Arif Habib Securities Limited has brokered a deal between Dewan Mushtaq Group and Allied Group in which Dewan Group has taken over Allied Groups' stake in Allied Motors Limited. The Company used to be called Allied Tractors Limited and assemble tractors of the Ford brand. During the 1990s the Company had a dispute with Ford and the plant has been closed for a number of years. The equity of Allied Motors Limited is negative and the book value per share after taking into account revaluation of assets is below Rs. 4.

The Dewan Group bought 4,753,259 shares (53%) at a rate of Rs. 1/- and in addition has agreed to take on the responsibility for the discharge of the liabilities of the Company. The deal was finalized after talks with a number of parties, as it was felt that the interests of the minority shareholders would best be looked after by the Dewan Group. The agreement between the Groups was signed on Wednesday, 14 April 2004 and the payment and share transfer process was started the next day. The deal was reported to the stock exchange by Arif Habib Securities Limited on 15 April including notices under the Listed Companies (Substantial Acquisition of Voting Shares and Take-overs) Ordinance, 2002.

The Dewan Group considers Allied Motors Limited to be a strategic asset and a good fit to its existing automotive business portfolio. Under the Listed Companies (Substantial Acquisition of Voting Shares and Take-overs) Ordinance, 2002 the Group has to make a public offer for purchase of shares of Allied Motors Limited. The Dewan Group intends to offer each minority shareholder the option to sell his shares at the same price as offered to the Allied Group (Rs. 1 per share). Dewan Group would, however, be pleased if the shareholders repose trust in the management of the Group and continue to hold the shares.

This divesture will enable the Allied Group to concentrate on its existing business partnership with Caterpillar, USA. Allied Engineering & Services Limited, an Allied Group company, holds the distributorship for Caterpillar for Pakistan. The company has been highly successful in making Caterpillar the brand of choice for generators and heavy equipment.

 

 

Arif Habib Securities Limited is pleased that it has been able to play a part in reviving a dormant company listed on the stock exchange. We hope that the shares of the company will revive and perform well. The team that finalized the deal consisted of Mr. Arif Habib, Chief Executive and Mr. M. Akmal Jameel, Head of Corporate Finance & Business Development.