WHO WE ARE?
Pak Oman Investment Company
(Pak-Oman) is a financial institution formed as a joint venture between
the Government of Pakistan and the Sultanate of Oman. Subsequent to the
visit of His Majesty, Sultan Qaboos to Pakistan in 2001, an agreement
was signed by the two governments and in July 2001, the company was
formally incorporated. Within the next six months, an extremely
competent Board with a shared vision of bringing private sector culture
and flexibility to company operations was drawn up with the equal
representation from both sovereign shareholders.
Apart from its emphasis on
traditional financing activities, Pak Oman has established itself as a
leading Investment Banking outfit. The Investment Banking Division
prides itself in structuring innovative, tailor made and cost effective
solutions for its customers in Pakistan as well as Oman. It has
successfully executed a number of diversified mandates that include
listed and privately placed Term Finance Certificate issues, syndicated
term finance facilities, equity issues, balance sheet restructuring and
unsecured/tradable Commercial Papers. In fact Pak Oman is the only
institution that has successfully advised and arranged Commercial Paper
issues for a number of eminent corporate customers.
Pak Oman has one of the most
active treasuries in the market today. It is a fine pricing, high
turnover and large volume player with average daily turnover in excess
of PKR 1 billion. The treasury also actively trades listed corporate
bond issues and currently has a portfolio in excess of PKR 1 billion
raised from both primary and secondary offerings. It has been
reappointed Primary Dealer by the State Bank of Pakistan in August 2004
- one of a select group and the only DFI to get this role. For a young
institution, this is a significant triumph.
Pak Oman's strategy has been to
develop inroads in areas currently neglected that provide great
potential for growth and profitability. Projects in these areas also
offer the opportunity to meet developmental objectives set out by the
Sponsors. Pak Oman has established a dedicated Special Projects division
to explore viable financing opportunities in the non-traditional sector
with special emphasis on Baluchistan and Gwadar. In order to show our
commitment to the economic development of the region, Pak Oman has
participated in two mega infrastructure projects: the first involving
supply of water to Gwadar (Mirani dam) and the second involving a road
link between Gwadar and Karachi (Makran Coastal Highway).
JCR-VIS Credit Rating Company
Limited has reaffirmed Pak Oman Investment Company Limited (POIC) entity
ratings of 'AA+ (Double A Plus) for medium to long term and A-1+ (A One
Plus) for the short term. The outlook on the medium to long term rating
is 'stable'. Additionally, Pak Oman's corporate governance rating as
assigned by the JCR-VIS Credit Rating Company is CGR-9, which denotes a
'very high level of corporate Governance'.
In line with its development
mandate, Pak Oman Investment Company has also initiated the process of
setting up a country-wide microfinance bank. The Government of the
Sultanate of Oman has agreed to invest $5.6 million in this venture. Mr.
Ozair Hanafi, a senior executive, formerly associated with the Khushali
Bank, has taken over as CEO of the Pak Oman Microfinance Bank.
Pak Oman is also in the process
of setting up an Asset Management Company in partnership with the Oman
National Investment Company (ONIC), Bank Muscat and the National
Logistics Cell (NLC).
Pak Oman played a strategic
role in the establishment of the Pakistan Textile City Limited. From
preparation of the financial feasibility, to actual incorporation as
Joint Stock Company, to selection of Board members, Pak Oman lent its
complete support to the GoP to make this venture a success. This company
aims to provide infrastructure and policy incentives to the textile
industry, and stimulate its expansion and global competitiveness.
Pak Oman is the only
joint-venture company / DFI to become a public limited company. This is
a first step towards becoming a public listed company with eventual
listings on both local and Omani stock exchanges.
In addition to offices in
Karachi, Gwadar, Islamabad and Lahore, Pak Oman is the first Joint
Venture Company to take the initiative of establishing an international
office. Centrally located in the business district of Muscat, the branch
will play an instrumental role in facilitating / promoting bilateral
trade and investment between Sultanate of Oman and Pakistan.
Pak Oman, in the interest of
social responsibility and good corporate citizenship, Pak Oman has also
set up "Friends of Life", an internal unit dedicated to
social/ welfare development and environment-friendly practices within
and outside the organization.
From a fledgling concern, Pak
Oman has come a long way in being recognized as a key player in the
For more information visit