Apr 25 - May 08, 2005

 

 

FINANCIAL CLOSE OF RS10.5 BILLION SYNDICATED TERM FINANCE FACILITY TO PACKAGES LIMITED

Packages Limited (Packages) has achieved a successful financial close of its Rs10.5 Billion Syndicated Term Finance Facility. A ceremony to mark this event was held on April 20, 2005 at MCB Tower, Karachi which was attended by Syed Babar Ali, Advisor to Packages Limited, the heads of leading banks, senior members of the banking community, Packages management and members of the press. MCB acted as the Exclusive Financial Advisor to Packages and Joint Lead Arranger of this Facility.

 

 

The purpose of the facility is to finance the expansion and relocation project, which entails the relocation of the Company's existing paper & board manufacturing operations at a new site and expansion of its paper & board manufacturing capacity to around 300,000 tons per annum by the mid of 2008.

National Bank of Pakistan is the other Joint Lead Arranger in the facility whereas Allied Bank acted as Arranger. The participating financial institutions include Muslim Commercial Bank Limited, National Bank of Pakistan , Allied Bank Limited, Habib Bank Limited, United Bank Limited, Citibank N.A., Bank Alfalah Limited, Askari Commercial Bank Limited, Pak Libya Holding Co. (Pvt) Ltd and Soneri Bank Limited. MCB's President, Aftab Manzoor, lauded the support of the financial institutions who participated in this Facility and expressed confidence in Packages management to successfully implement the expansion/relocation project.

The estimated cost of the Project is approximately Rs15 billion, of the which equity contribution will be approximately Rs4.5 billion in the form of Rs3.016 billion through Rights Shares issue and the remaining through internal cash generation. The balance Rs10.5 billion is being raised through the subject syndicated term financing.

Packages is widely acknowledged as the market leader in sophisticated and high quality packaging products. It was established in 1957 as a joint venture between the Ali group of Pakistan and Akerlund & Rausing of Sweden, to convert paper and board into packaging material for consumer industry. The Company is the country's premier integrated pulp, paper and packaging manufacturer with 90% of its revenue coming from sale of packaging material for various products pertaining to the food, tobacco, pharmaceutical, and other similar consumer industries. The remaining 10% of the revenue is being generated from tissue paper related products. Packages is a vertically integrated company having its own paper and paperboard mill and also is the only company in Pakistan having the capability to provide complete range of packaging solutions including offset printed cartons, shipping containers, flexible packaging materials.

 

 

MOBILINK CALL CENTER EXPANSION BY ZRG

Customer service and support call centers are growing in size and numbers in Pakistan. Increasing number of progressive organizations are setting up new call centers. Those organizations that already have call centers are revamping their existing centers to cater to the growing customer base and progressive diversity of products and services.

Mobilink GSM, the largest cellular phone company in Pakistan has been using the next generation call center solution from ZRG International with great satisfaction since 1999. In order to cater to the growing customer base and to provide improved customer services, Mobilink has recently made significant investments in its multi-site call centers by adding more capacity and functionality.

The expansion order was awarded to ZRG due to the proven architecture and performance. ZRG executed the expansion project well ahead of the dead line given by Mobilink. The recent expansion by ZRG has enabled Mobilink Call Center to handle additional traffic, carry out intelligent load balancing and sharing and utilized IP technologies for cost effective call transportation between sites.

JWT PAKISTAN WINS ABBY AWARD

At a glorious ceremony, the Abby Awards 2005 were held in Mumbai. The Abby Awards are organized by the Advertising Club Bombay, each year the Club invites entries from all the Indian Advertising Agencies and awards Creative Excellence within the fraternity. This year, coinciding with the 50th anniversary of the Club, they opened up the doors to include the South East Asian neighborhood that is Bangladesh, Sri Lanka, Nepal and Pakistan.

The categories opened up for Pakistan included, The Best of Pakistan Advertising-Press (Single Ads), TV/Cinema (Single Ads) and Campaign. A total of 15 nominations were earned in the three categories out of a total of 65 entries submitted from various agencies. The entries were coordinated through the Pakistan Advertising Practitioners Club.

JWT Pakistan won the Silver award for its Lux-Bits TVC in the category for Best of Pakistan Advertising-TV/Cinema single Ad.

PAKISTAN RAILWAYS SIGNIFICANTLY CONTRIBUTING TOWARDS COUNTRY'S ECONOMIC DEVELOPMENT: SHAMIM

Mian Shamim Haider, Federal Minister for Railways has said Pakistan Railways is significantly contributing towards the economic development of the country. He said this while addressing a distinguished gathering of educationists, high ranking members of the civil bureaucracy, and faculty and students at a seminar on "Role of Railways in Economic Development." The seminar was organized by Preston University at its campus in Islamabad.

In his welcome address on the occasion, the Chancellor of Preston University, Dr. Abdul Basit extended a very warm welcome to the Chief Guest, Mian Shamim Haider, Federal Minister for Railways and the distinguished speakers. He expressed his gratitude to them for their invaluable participation and contribution towards the seminar. Dr. Basit also gave his own views on the topic, and eulogized the role Pakistan Railways in the economic development of the country.