Day: October 12, 2012

Posted on

Indus Dying and Manufacturing Company Limited’s notice of buying/ taking position in Shares

Karachi, October 12, 2012 (PPI-OT): This is to inform you that Mr. Naveed Ahmed Director of Indus Dyeing and Manufacturing Company Limited has purchased the shares of Indus Dyeing and Manufacturing Company Limited as per following details:-

S. No Trade Date Price No. of Shares Form Nature
1. October 09, 2012 428.65 20,100 CDC Purchase

For more information, contact:s
Ahmed Faheem Niazi
Company Secretary
Indus Dying and Manufacturing Company Limited
5th Floor, Office No.508, Beaumont Plaza,
Civil Lines Quarters, Karachi, Pakistan
Tel: 92-21-111-404-404 and 5693641 to 5693660 (20 Lines)
Fax: (92-21) 56953593 and 5693594
Web: www.indus-group.com
E-mail: info@indus-group.com

Posted on

Summit Bank Limited’s board meeting

Karachi, October 12, 2012 (PPI-OT): This is to inform you that a meeting of the Board of Directors of Summit Bank Limited (SMBL) will be held on October 19, 2012 at 9:30 a.m. at Arif Habib Centre, Karachi to consider Un-audited quarterly accounts for the period ended September 30, 2012.

The Bank has declared the “Closed Period” from October 12, 2012 to October 18, 2012 as required under Clause (xxvi) of the Code of Corporate Governance contained in the Listing Regulation No. 35 of the Exchange. Accordingly, no Director, CEO or Executive shall, directly/ indirectly, deal in the shares of the Bank in any manner during the Closed Period.

For more information, contact:
Syed Imran Hashmi
Acting CFO and Company Secretary
Summit Bank Limited
Arif Habib Center: Plot # 8/C-1,
Mumtaz Hassan Road,
Off: I.I. Chundrigar Road, Karachi, Pakistan
PABX: (021) 32468400-10,
Fax: (021) 32468494,
Email: info@summitbank.com.pk
Website: www.summitbank.com.pk

Posted on

Byco Petroleum Pakistan Limited’s change in the board of directors

Karachi, October 12, 2012 (PPI-OT): The following directors have been appointed to fill the casual vacancies:

1. Ms. Diana Brush
2. Mr. Philip Harris
3. Mr. Richard Legrand
4. Mr. Marc Angst
5. Ms. Maria do Rosario Coneia Percira Avelino
6. Mr. Aziz Moolji
7. Ms. Hala Hobeiche

Change of Chief Executive Officer

We wish to inform you that Mr. Amir Abbassciy resigned as the Chief Executive Officer as of 10th October 2012 and Mr. Mujtaba Jafarey has been appointed as the new Chief Executive Officer of the Company.

For more information, contact:
Shahrana Ahmed Ali
Company Secretary
Byco Petroleum Pakistan Limited
The Harbour Front, 9th Floor,
Dolmen City, HC – 3, Block – 4,
Marine Drive, Clifton, Karachi – 75600, Pakistan
UAN: (92 21) 111 222 081
Fax: (92 21) 111 888 081
Web: www.byco.com.pk

Posted on

Lucky Cement Limited’s material information

Karachi, October 12, 2012 (PPI-OT): Pursuant to our earlier notice of material information dated 30th July 2012 regarding signing of a Share Purchase Agreement by Lucky Cement Limited (LUCK) in consortium with other group entitles of Yunus Brothers Group with ICI Omicron B.V. a wholly owned subsidiary of Akzo Nobel N. V. Netherlands for the acquisition of a 75.81% shareholding of ICI Pakistan Limited, this is to inform that adjustments to the initial bid value have now been determined and agreed between the Seller and the Purchasers as per the terms of the Shares Purchase Agreement and the adjusted final purchase consideration is PKR 13,053,115,014/- (Rupees thirteen Billion Fifty Three Million One Hundred and Fifteen Thousand and Fourteen Only) which will translate into PKR 186.42 per share of ICI Pakistan Limited.

For more information, contact:
Muhammad Abid Ganatra
Company Secretary
Lucky Cement Limited
6-A, Mohammad Ali Housing,
A, Aziz Hashim Tabba Street, Karachi – 75350,
UAN: 111-786-555
T: (92-21) 34537390, 34530175, 34522554
F: 34534302
E: info@luky.cement.com
URL: www.lucky.cement.com

Posted on

AKD Quotidian about — Cements: Numbers rebound in Sep’12

Karachi, October 12, 2012 (PPI-OT): As per numbers quoted by the All Pakistan Cement Manufacturer’s Association (APCMA), domestic cement offtake in 1QFY13 increased by 5.3%YoY to stand at 5.4 million tons while offtake in Sep’12 alone increased by 19.8%YoY and 13.0%MoM to stand at 1.79 million tons.

According to AKD Securities, while 1QFY13 exports declined by 2.7%YoY to 2.27 million tons, Sep’12 exports rebounded to 818k tons, up 3.6%YoY and an encouraging 16.9%QoQ. As a result, cumulative cement volumes (local + exports) increased by 2.8%YoY in 1QFY13 to stand at 7.7 million tons. The uptick in volumes has come about due to increased construction activity within the country (both the Northern and southern regions) post the holiday season (Ramadan and Eid) as well as improved weather conditions following floods in May’12-Jul’12. Also encouraging is the improved situation within Northern exports whereby they registered an increase of 13.0%YoY and 23.8%QoQ in Sep’12 to stand at 633.9k tons. That said, Southern exports (sea route) declined by 19.5%YoY (-ve 2.1%MoM) in Sep’12 to stand at 184.1k tons for a cumulative 1QFY13 decline of 13.5%YoY.

Investment Perspective: Sharp improvement in local volumes in both the North and South zone buttress AKD Securities’ bullish outlook on Pakistan Cements where out top picks are LUCK (FY13F P/E: 5.3x; Tp: PKR 154.4/share) and DGKC (FY13F P/E: 5.8x; TP: PKR 56.6/share).

MCB: 9MCY12 Result Preview

MCB is scheduled to announce its 9MCY12 result on Oct 17’12. On a consolidated basis, AKD Securities expects MCB to post NPAT of PKR 16.84 billion (EPS: PKR 18.30) in 9MCY12 vs. NPAT of PKR 15.52 billion (EPS: PKR 16.87) in 9MCY11, translating into modest 8%YoY growth. Alongside the result, AKD Securities expects MCB to announce a cash dividend of PKR 4/share, bringing cumulative 9MCY12 payout to PKR 11/share. Key highlights of upcoming 9MCY12 result are expected to be 1) 6%YoY NII decline due to higher deposit costs post increase in savings a/c floor to 6%, 2) a 72%YoY decline in loan provisions as NPL stock has stabilized and coverage appears adequate and 3) robust 27%YoY growth in non-interest income driven by higher fees, dividend income and capital gains. While pension fund reversals are no longer a swing factor, possible high capital gains (no bank’s own basis and by associate AICL) hold the potential for +ve earnings surprises, in AKD Securities’ view. On a sequential basis, AKD Securities expects MCB to post NPAT of PKR 5.33 billion (EPS: PKR 5.80) in 3QCY12, up 9%YoY but lower by 7%QoQ where the latter should arise on the back of lower NII (tighter NIMs). Having gained 50%CYTD (vs. a 40% gain for the KSE-100 Index), MCB trades at a CY13F P/B of 1.44x, P/E of 7.5x and D/Y of 7.9% where AKD Securities’ target price of PKR 185/share implies a Neutral stance.

Posted on

Pakistan Telecommunication Company’s town storming and marketing campaign

Karachi, October 12, 2012 (PPI-OT): To extend the reach of its innovative products and services, Pakistan Telecommunication Company Limited (PTCL) recently conducted a creative town storming and marketing campaign.

The marketing drive was a creative blend of marketing initiatives, kiosk activities and sales camps carried out in major commercial centers of Quetta including Agha Siraj Complex, Dawood Shopping Mall, Bolan Shopping Mall, Regal Tower and Saleem Complex.

The campaign also featured comprehensive door to door marketing by highly trained and courteous PTCL staff. The areas covered were Jinnah Road, Chaman Housing Society, Jinnah Town, Satellite Town, Liaqat Market, Joint Road, Dawood Colony, Airport Road, Prince Road, Halle Colony and Zarkhoon Road.

The campaign received an overwhelming response from the public who took deep interest in PTCL’s products and services and placed orders taking advantage of this door to door campaign.

To reach out to students, special sales camps were also held at Baluchistan University, Bolan Medical College and Baluchistan University of Information Technology where students through live demonstrations experienced PTCL’s innovative products and latest packages. PTCL town marketing campaigns are regularly conducted across Pakistan, providing customers with a firsthand experience of its latest products and services, as well as offer on-spot sales.

For more information, contact:
Pakistan Telecommunication Company (PTCL)
F-8 Exchange, Nazim-Ud-Din Road F-8/1,
Islamabad
Tel: +9251 111 20 20 20
Fax: +9251 111 21 21 21
Email: shahzad.khalil@ptcl.net.pk

Posted on

All Pakistan Paper Merchants Association wants private sector representation in Oil and Gas Regulatory Authority

Lahore, October 12, 2012 (PPI-OT): All Pakistan Paper Merchants Association has demanded of the government to initiate reforms in the Oil and Gas Regulatory Authority (OGRA) immediately and ensure at least 50% representation of private sector as the body has been failed to deliver good for the trade and industry.

In a joint press statement issued here Thursday, leader of APPMA Businessmen Group and Vice President of APPMA Khawaja Nadeem Saeed Wayeen said that OGRA has adopted appalling weekly review of POL prices that is sheer injustice as reportedly, government purchases oil stock for three month but making increase weekly for the consumers.

While coming hard on the OGRA who is showing no sympathy for the trade, industry and economy, Khamis Saeed Butt and Khawaja Nadeem Saeed Wayeen said that OGRA should protect the interests of stakeholders but it is doing the other way round.

They also urged the government to cut the number of taxes on petroleum products and the fuel is considered as engine of growth. If the fuel would be heavily taxed the entire economy is bound to suffer and the same happened in Pakistan as the repeated increases in the POL prices had ruined the industrial and economic activities in the country.

The APPMA leaders said that the entire industrial sector was already facing multiple internal and external challenges and weekly increase in POL prices would further aggravate the economic situation.

They said that Pakistan agriculture sector is engine of growth. Weekly change in petroleum prices would increase the input cost of agriculture production as high speed diesel is being used in tractors, tube-wells, harvesters, thrashers and other agriculture machinery. They said that the cost of thermal generation would also go up.

They said that Government is producing huge amount of electricity through thermal means and after increase in petroleum prices, prices of electricity would touch new highs.

Khamis Saeed Butt and Khawaja Nadeem Saeed Wayeen said that not only the transportation cost of goods would multiply but fares of public transport would also increase manifold.

They said that present regime has disappointed the business community and has never taken a single step for progress and prosperity of the country. They said that government should get ready to face the music in the forthcoming national election when the people would take revenge from the government with the power of their votes.

For more information contact:
All Pakistan Paper Merchants Association
Al-Rasheed Centre,
3rd Floor, Faiz Muhammad Fateh Ali Road,
Karachi.
Phone: 021-32621041, 35462900,
Fax: 021-32210385,
Email: paperassociation@homail.com
URL: www.appma.com.pk