SAUDI PAK LEASING COMPANY LIMITED
From KHALID BUTT, Lahore
Jan 23 - 29, 2006
Saudi Pak Leasing Company Limited (SPLCL), formerly Standard Chartered Mercantile Leasing Company Limited (SCMLCL), commenced business in the year 1991. SCMLCL was initially sponsored by Standard Chartered Bank with 30% shareholding in the then paid up capital of Rs. 50 million. Standard Chartered Bank subsequently divested its holding in the year 1997 to concentrate on its core business of banking in pursuance of group policy decision worldwide.
30% shareholding was acquired by Saudi Pak Industrial and Agricultural Investment Company (Pvt.) Limited (SAPICO) in October 1997 and SCMLCL was renamed as SPLCL. SAPICO is sponsored by Government of Pakistan and Kingdom of Saudi Arabia with equal shareholding.
SAUDI PAK GROUP
Today, Saudi Pak group stands amongst the largest conglomerates in the financial sector of Pakistan, comprising a Development Financial Institution, a Leasing Company, a Commercial Bank and Insurance Company. Covering almost all the major financial businesses, the institutions within the Saudi Pak group have the edge to avail from the exclusive inter-company expertise and pass on the benefit directly to the customer by providing a quality service in a more efficient manner. The group companies are:
• Saudi Pak Industrial & Agriculture Investment Co. (Pvt.) Ltd.
• Saudi Pak Commercial Bank Limited
• Saudi Pak Insurance Company Limited
• Saudi Pak Leasing Company Limited
The management of the company vests with the Chief Executive Officer duly assisted by a senior staff team consisting of highly qualified and experienced professionals. Farrukh S. Ansari is the Chief Executive of SPLCL.
He has had over 20 years of rich and diversified experience in the banking as well as the corporate sector.
Over the course of his successful career, he has held key strategic positions with Dewan Group (the largest private sector group), Habib Overseas Bank-South Africa, Credit Agricole Indosuez and Bankers Equity Limited before joining SPLCL.
SPLCL aims to become industry leader by offering unique business solutions to the customer driven by a cohesive team of professionals.
SPLCL has well-defined "Corporate Mission" for customers, shareholders, employees and society. For customers, SPLCL will strive to add value for its customers through high quality business solutions and superior services. For shareholders, SPLCL will maximize its shareholders' value by optimum utilization of resources. For employees, SPLCL will provide its employees opportunities for selfdevelopment in a highly challenging performance-oriented work environment, while for society, SPLCL shall maintain high ethical standards and act as a responsible corporate citizen.
SPLCL has developed a number of products to meet the needs of corporate entities, partnership concerns and individuals.
For fulfilling capital requirements of clients, SPLCL offers the following products:
• Finance lease
• Operating lease
• Financing of Agriculture implements .
Hire purchase financing
• Consumer finance lease
• Term loan (both short term & long term). In conducting business, SPLCL's strategic focus is to sustain and enhance its niche in providing financial solutions to the ever expanding corporate world.
Encompassing a substantial portfolio of assets like industrial equipment, power machinery, commercial vehicles etc. SPLCL's marketing efforts are geared towards local blue chip and export-oriented enterprises.
While fulfilling the commitment to provide innovative financial solutions, SPLCL extend lease financing to SMEs with added advantage of superior services.
In order to cater the needs of clients to the fullest, SPLCL has introduced operating lease of Generators and Reverse Osmosis plants.
Recognizing the scope of consumer segment of the market, SPLCL has ventured into financing of consumer products at competitive rates with easy accessibility. SPLCL has collaboration with leading manufactures of this segment, aimed at enhancement of lifestyle while delivering luxury at doorsteps.
For investors, SPLCL has Certificates of Investment (COIs) Schemes with varying return based on tenors ranging from 3 months to 5 years.
Saudi Pak Leasing Company Limited has been assigned medium to long term rating at A-, short term rating of A2 and a stable outlook on the rating by JCR-VIS.
2001 - 2005 (PKR in million)
June 30 Income Statements
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