EXPORT ORDERS BREAKTHROUGH FOR EBM IN EXPO 2005
A large number of foreign visitors showed keen
interest at the stall of English Biscuit Manufacturers at the
recently held Expo 2005. The main aim of the exhibition was to
showcase Pakistani products in the international market.
Representatives from several countries visited
the stall and appreciated the high quality standards of all the
products on display. EBM also received several orders and inquiries
for export including from Durban, South Africa, Doha, Qatar and
"This is a remarkable achievement for EBM,"
Mubashir Ansari, GM Marketing said. "We have managed to secure
these orders because of our state-of-the-art technology and high
safety standards that are used as benchmarks in other countries as
well. Such exhibitions serve as gateway for many opportunities for
producers and buyers and buyers. Many visitors were amazed to see
the high standard and variety of production in Pakistan."
SONY ERICSSON'S NEW GC95 UMTS/EDGE PC CARD
For people who require hassle free high speed
access to their Internet, intranet or oven corporate networks as
they travel and work in a global economy, Sony Ericsson recently
announced its first UMTS/EDGE quad-band wireless PC Card. Sony
Ericsson's GC95 card makes connectivity seamless and convenient
around the world. It delivers high speed data rates and extensive
coverage all in one card.
Advancing its success and market leadership
earned with the launch of the world's first EDGE PC Card (GC82 EDGE
PC Card), Sony Ericsson's GC95 delivers true high speed broadband
performance with data rates of up to 384 kbps on 3G UMTS networks or
up to 247 kbps when on the GSM/EDGE/GPRS networks.
"Sony Ericsson believes that the GC95 UMTS/EDGE
combination sets precedence for the future of wireless PC Cards. We
have always offered a cutting-edge product portfolio of PC Cards and
the GC95 card continues that legacy," said Anders Franzen,
Corporate Vice President and Head of Sony Ericsson M2M
Communications. "Just about every frequent traveler can tell
you a story about their difficulties getting a connection on the
road. The GC95 PC Card frees people up to focus on their objectives
versus worrying about whether they can get a connection. Sony
Ericsson's GC95 PC Card makes it easy to get a connection at the
fastest possible speeds."
BERGER DECLARES 30% INTERIM CASH DIVIDEND
The Board of Directors of Berger Paints Pakistan
Limited has approved an interim cash dividend of 30 percent for the
half year ended December 31, 2004.
The company's profit before tax for the period
increased to Rs. 53. 486 million and sales rose to Rs. 964.133
million as against Rs. 19.380 million and Rs. 590.474 million for
the corresponding period, respectively. Earning per share during the
period increased from Rs. 3.0 to Rs 5. 75 as compared to the
Berger Paints has recently taken a number of
strategic management initiatives to take full advantage of market
growth opportunities created b the improved business climate. The
recent upsurge in construction activity and the removal of excise
duty on ;paints and vanishes has had a positive effect on the
Berger is also establishing a production facility
in Lahore and this will further contribute to an increase in market
share of the company's products. As a result of its forward-looking
outlook, the Company continued to maintain its trend towards
KOREAN TEAM SET UP FREE EYE CAMP IN LAHORE
Members of the Vision Care Service of Korea has
set up a week-long free eye camp in Lahore in collaboration with the
Lahore General Hospital. The eye-camp was sponsored by global
digital technology leader, LG Electronics.
Doctors and eye-specialists flew in especially
from Korea to inspect and operate on needy patients. The team of
Korean doctors performed 120 operations in five days.
Speaking on the occasion, LG's General Manager,
C.S. Kim, said that LG strongly believes in supporting its
communities and giving them back the joy of living a healthy and
wholesome life. "At LG, our aim is to provide comfort to not
only those who buy our products but also to those who are deprived
of the joys of life. This eye camp is just one of the regular
practices of the company.
SONERI BANK — BONUS SHARES
The Board of Directors of Soneri Bank Limited in
its meeting has recommended for issuance of 'Bonus Shares' at the
rate of 30 percent i.e. 30 shares for every 100 shares held which
will result in capitalization of Rs381,576,000 raising the paid-up
capital of the bank to Rs1,653 million. As a result shareholders'
equity will also exceed Rs3 billion.
Soneri Bank is operating with 52 branches spread
over Pakistan. The bank handled import & export business of
US$1. 3 billion in the year 2004. While the deposits of the bank
registered a 34 percent growth in 2004, the pre-tax profit increased
to by 30% to over Rs one billion.
HUBCO'S FINANCIAL RESULTS
The Board of Directors of the Hub Power Company
in their meeting held at Karachi on February 17 approved the Un—audited
Financial Results for the Company's second quarter ended December
31, 2004. The Board of Directors further decided to consider an
interim dividend at their next Board meeting to be held in March
It was also decided in accordance with the
requirements under Listing Regulation 14.1 requiring companies on
your cleared list (Future Contracts) to provide the Karachi Stock
Exchange with a two month notice period in respect of book closure,
we hereby inform you that the Share Transfer Book of our Company
will remain closed from Tuesday, April 05, 2005 to Friday, April 15,
2005. (Both days inclusive).
PAK OMAN INVESTMENT COMPANY LIMITED
The eighteenth Board Meeting of Pak Oman
Investment Company (Pak Oman) was held on February 20, 2005 in
Karachi. The meeting, chaired by H.E. Yahya Al-Jabri and was
attended by Dr. Waqar Masood Khan, H.E. Nasser Al-Jashmi, Ahmed Al-Wahaibi,
Humayun Murad and Zafar Iqbal.
The Board of Directors approved financing of
Rs750 million (US$ 12.6 million) in various sectors of the economy.
Pak Oman has been successful in achieving its target of developing a
well-diversified loan and lease portfolio comprising low risk, high
quality assets. Apart from its core credit activity, the Company's
focus on new areas such as quality private equity transactions was
appreciated and encouraged.
The Board also approved the audited financial
statements for the year ended December 31, 2004. The company's
profit before tax has been recorded at Rs319 million. In an
increasingly competitive environment, the strong positioning of the
company and continued focus on core activities have helped achieve
AKD Securities (Pvt) Ltd announced recently that
Nadeem Naqvi has joined the company as the Chief Executive Officer.
Naqvi has over twenty years of experience in the
financial services industry and has worked in New York, London,
Bahrain and Karachi prior to joining AKD Securities (Pvt) Ltd.
Prior to joining AKD Securities, Naqvi was a
principal and director of M/s Investology Inc., a US-based
independent research firm which was ranked 3rd out of 300 US
independent research firms by BusinessWeek magazine in July 2004. He
also headed the domestic advisory team to Morgan Stanley's Pakistan
Fund and was an executive director at M/s Khadim Ali Shah Bokhari (KASB)
and Head of Merril Lynch Pakistan Research team.
Naqvi has a degree in MBA (Finance) from the City
University Business School, London, England. He is also a member of
CFA institute Toronto Society.