Board meeting of Habib ADM Limited to be held on February 01, 2016

Karachi: Habib ADM Limited informed Karachi Stock Exchange that board of directors meeting of the company will be held on February 01, 2016 at Karachi. The agenda of the meeting is to consider Un-Audited Financial Statements for Half Year ended December 31, 2015.

Further, the Company has declared closed period from January 25, 2016 to February 01, 2016.

Habib-ADM Limited is a company incorporated in Pakistan. It produces and markets a wide range of rice based starch sugars, protein concentrates, and derivatives. The head office of the company is located in Karachi. The shares of the company are quoted on the Karachi Stock Exchange of Pakistan.

The product range of the company include rice syrup, rice syrup 95 DE, rice syrup solid, maltrodextrins, high maltose rice syrup, soluble rice fibre, rice protein concentrate, high fructose rice syrup 42, rice sorbitol syrup and rice maltitol syrup. The starch sugars include Clarified Rice Syrups, Brown Rice Syrups, High Fructose Syrup, Rice Syrup Solids, Maltitol Syrup, Sorbitol Syrup, and Maltodextrins. All are essential ingredients for the food, confectionery, and pharmaceutical industries. The production system of the company is ISO 9001:22000 and HACCP certified.

The symbol “HAL” is being used by the stock exchange for the shares of Habib-ADM Limited.

Board meeting of Fauji Cement Company Limited to be held on February 16, 2016

Karachi: Fauji Cement Company Limited informed Karachi Stock Exchange that board of directors meeting of the company will be held on February 16, 2016 at Rawalpindi. The agenda of the meeting is to consider Quarterly Accounts for period ended December 31, 2015 for declaration of any entitlement.

Further, the company has declared closed period from February 10, 2016 to February 16, 2016.

Board meeting of MCB Arif Habib Savings and Investments Limited to be held on February 04, 2016

Karachi: MCB Arif Habib Savings and Investments Limited informed Karachi Stock Exchange that board of directors meeting of the company will be held on February 04, 2016 at Karachi. The agenda of the meeting is to consider and approve financial statements of MCB Arif Habib Savings and Investments Limited and distribution of interim dividend if any for half year ended December 31, 2015. The Board of directors will also consider and approve financial statement of collective investment schemes under management of company for half year ended December 31, 2015.

Further, the Company has declared closed period from January 28, 2016 to February 04, 2016.

Pakistan and Turkey vow to deepen collaboration in the housing sector

Islamabad, January 25, 2016 (PPI-OT): The Minister for Housing, Urban Development and Public Health of the Government of Punjab, Tanveer Aslam Malik, leading a high-level delegation of senior government officials and private sector executives, met with Turkish Minister for Environment and Urbanization Ms. Fatma Guldemet SARI, says a press release received from Ankara here today.

In tete-e-tete and delegation-level talks, the two sides held a detailed exchange of views on multiple dimensions of Pakistan-Turkey relations and reaffirmed the commitment of the top leadership to forge a strong bilateral economic partnership, commensurate with the excellent political relationship.

Minister Tanveer Malik recalled the visit of Punjab Chief Minister Muhammad Shahbaz Sharif to Turkey in December 2015, during which he had met with President Recep Tayyip Erdogan and Prime Minister Ahmet Davutoglu and had discussed ways of further deepening trade, investment and economic cooperation with Turkey.

Noting the ongoing projects in Pakistan like Metro bus, solid waste management and wind mill, Minister Malik stressed that Pakistan was looking forward to Turkish investment in a range of sectors – including energy, infrastructure development, agro-based industry, and municipal services. He also highlighted the Punjab Government’s special focus on low-cost housing and learning from Turkish experience in this context.

Turkish Minister Fatma Guldemet SARI fully reciprocated the desire for deepening and broadening the economic relationship between Turkey and Pakistan and affirmed Turkey’s readiness to share its experience in urban planning, housing, and other related fields. The Minister also highlighted the extensive work of the Housing Development Administration of Turkey (TOKI) in the housing sector in Turkey and added that the Turkish side would be glad to share the accumulated knowledge and experience, adapted to Pakistan’s environment and specific requirements.

The Punjab delegation’s visit is aimed at learning from Turkish experience in provision of low-cost housing. It is in follow-up of the recent agreement reached between the Government of Punjab and TOKI. Under the Memorandum of Intent signed by the two sides, TOKI will provide technical consultancy support to the Punjab Government in its endeavours to provide 25,000 housing units in 2016 and further 25,000 in 2017.

In this context, the Chief Minister during his visit to Turkey in December 2015 had also met with TOKI President. In response to his request, President of TOKI visited Lahore in early January 2016 and reached the understanding for closer collaboration in the low-cost housing benefiting from TOKI’s financial, technical, managerial and business model. The Punjab delegation will have detailed meetings with the President and senior officials of TOKI, besides visiting mass housing projects and urban renewal development projects in Ankara and Istanbul.

For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +92-51-9252323 and +92-51-9252324
Fax: +92-51-9252325 and +92-51-9252326

Swiss firm offers modern agro-food processing technology to Pakistani companies

Karachi, January 25, 2016 (PPI-OT): In an interactive seminar on “Successful Investment in Wheat”, held at the Swiss Consul General’s residence, Buhler Group from Switzerland – the global market leader with over 150 years history in flour milling – offered its state-of-art food grains processing equipment and expertise to Pakistani companies.

Speaking on the occasion, the Consul General – Mr. Emil Wyss – shared that Pakistan has excellent agricultural products and there is a huge potential to further develop the agro food industry. Mr. Andreas Aepli, Buhler’s Country Manager, also highlighted that Pakistan is the 6th largest producer of high nutrient wheat and Buhler is happy to offer its experience and equipment to improve its quality, food safety, sanitation, industrialization and value addition.

For more information, contact:
Aslam Pervez
Commercial Officer
Consulate General of Switzerland
98, Block 5, Clifton, Karachi 75600
Tel: +92 21 587 39 87
Tel: 031/322 19 76 (from Switzerland)
Fax: +92 21 587 41 04

Lahore Stock Exchange Financial Services Limited signs investment advisory agreement with M/s. Bil Foods Limited

Lahore, January 25, 2016 (PPI-OT): LSE Financial Services Ltd. (formerly: Lahore Stock Exchange Ltd.), under its new role as NBFC, has signed its agreement with M/s. Bil Food Ltd., for provision of financial advisory and funds arrangement services. The signing ceremony which was held today at Lahore was attended by the directors of both the companies.

Speaking on the occasion, Mr. Aftab Ahmad Ch., MD/CEO of LSE Financial Services Ltd. stated that after integration of the Stock Exchange business, former Lahore Stock Exchange has been converted into a NBFC under the new name and has been licensed to carry out Investment Finance Services. He stated that under the agreement LSE Financial Services Ltd. shall revamp the business plan of M/s. Bil Food and subsequently arrange private placement of the shares for the growth of the Company’s business.

Mr. Amer Kamal, CEO of Bil Food briefed that the Company has the business plan for acquisition of various master franchises of food chains in Pakistan. He hoped that having established a strong footprint in the QSR segment through establishment of the ‘Fat Burger’ franchise in Pakistan, Buffalo cafe and recently acquired Master Franchise rights of developing Texas Chicken brand in Pakistan. He showed confidence that with the services provided by LSE Financial Services Ltd., the Company’s product pipeline would be further extended.

For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange-Financial Services Limited
(Formerly Lahore Stock Exchange Limited)
Lahore Stock Exchange Building,
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
Lahore – 54000, Pakistan
Tel: +92-42-36368000
Fax: +92-42-36368484-85

Turkish delegation underscores need for signing Pakistan-Turkey Free Trade Agreement

Karachi, January 25, 2016 (PPI-OT): Members of a delegation from Turkey underscored the need for signing Free Trade Agreement (FTA) with a view to boost the existing trade ties between Pakistan and Turkey. Exchanging views during their visit to Karachi Chamber of Commerce and Industry, the delegation members, representing Turkish electrical appliances sector, expressed keenness to share technology and undertake joint ventures with their counterparts in Pakistan.

The Turkish delegation, which was led by Dr. Guven Uckan Vice President of Electrical Electronics and Services Exporters Association (EESEA) Turkey, comprised of Mr. Mehmet Kavakhoglu Vice President EESEA, Mr. Atilla Eren Member Management Board EESEA and Mr. Hakan Ozturk Member Management Board EESEA while Murat Mustu Commercial Attaché of Consulate General of Turkey also accompanied the delegation.

Younus Muhammad Bashir President KCCI, Zia Ahmed Khan Senior Vice President KCCI, Muhammad Naeem Sharif Vice President KCCI, Muhammad Ibrahim Kasumbi Former SVP KCCI, Muhammad Idrees Chairman KCCI Special Committee for My Karachi Exhibition and KCCI Managing Committee members were also present at the meeting.

Speaking on the occasion, Murat Mustu Commercial Attaché of Turkish Consulate in Karachi informed that it was the second delegation as a similar delegation from Jewellers Association of Turkey also visited Karachi last year which succeeded in building goods business relations with their counterparts in Pakistan.

Commenting on production of electrical appliances and machineries being produced in Turkey, he particularly mentioned that high quality textile machineries were being produced in Turkey and the same were being exported to the European Union. These products were much better as compared to similar machineries being produced by China, he claimed, adding that these machineries and electrical equipment can also be exported to Pakistan but the Custom duty rates were a bit high which can only be reduced by signing the FTA which was currently being negotiated.

Leader of the delegation, Dr. Guven Uckan said that Turkish companies want to enhance business with Pakistan by holding business-to-business meetings and seek ways on how to do business together. “We want to do business by undertaking joint ventures either in your country or in our country and we are looking forward to sharing technology with Pakistan”, he added.

He hoped that FTA between the two countries will soon be inked, which would surely create a win-win situation for the business communities of the two brotherly countries. Earlier, while welcoming the delegation, Younus Muhammad Bashir President KCCI said that it was heartening to note that numerous delegations representing various sectors of Turkish economy have been visiting KCCI from time to time with a view to look for opportunities of enhancing trade and investment between the two brotherly countries.

He said that both countries were all weather friends and their economic ties were based on longstanding and deep rooted bilateral relationship providing economic and political support to each other. “Pakistan and Turkey have significant trade volume where Pakistan exported commodities of worth $322.60 million while imported commodities of worth $238.45 million during 2014-15, showing a trade balance of $84.15 million in favour of Pakistan”, he added.

He pointed out that Pakistan was a major importer of electrical and electronic items from around the world and there exists a growing demand of such products in the country. “In fact, the home appliances business is thriving and key market players expect consumer demand to surge as households generally replace their old appliances with newer models”, Younus Bashir said, “Pakistan’s consumer electronics market is expected to grow by an annualized average of about 13.3 percent to $3.3 billion by 2016. Although, Refrigerators, Deep Freezers, Air conditioners are being manufactured within the country, yet the industry depends on imported Compressors for manufacturing these items.”

He was of the opinion strong potential for Turkish businessmen exist who can undertake joint ventures with local businessmen to establish manufacturing and assembly lines in Pakistan while capitalizing on the abundant and cost effective resources available here. It would also open opportunities for Turkish businessmen to further reach out to the landlocked Central Asian Countries.

He also invited the Turkish delegation to participate in KCCI’s forthcoming 13th My Karachi – Oasis of Harmony exhibition scheduled to be organized at Karachi Expo Enter from 25th to 27th March 2016. This three-day long event will provide an excellent opportunity to Turkish businessmen and industrialists to showcase their electronic goods and appliance in front of around 1 million visitors, besides create strong linkages with the business and industrial community of Karachi by holding B2B meetings in a cordial atmosphere.

For more information, contact:
Aamir Hassan
Director Press/Electronic Media and Public Relations
Karachi Chamber of Commerce and Industry (KCCI)
Aiwan-e-Tijarat Road, Off Shahrah-e-Liaquat,
Phone: +92-21-99218001-09
Fax: +92-21-99218040