Pakistan Credit Rating Agency Limited maintains ratings of AutoSoft Dynamics (Private) Limited

Lahore, January 29, 2016 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has maintained the long-term and short-term entity ratings of AutoSoft Dynamics (Private) Limited (AutoSoft) at “A-” (Single A Minus) and “A1” (A One), respectively. The ratings denote a low expectation of credit risk and a strong capacity for timely payment of financial commitments.

The ratings reflect AutoSoft’s low financial risk stemming from the company’s financial conservatism exhibited by its equity based capital structure; enabled through healthy cash generation ability and surplus funds. The company operates in both local and selected foreign markets (primarily Africa), adding geographical diversification to the revenue stream. AutoSoft’s core product – AutoBANKER – contributes significantly to revenues – mainly new licenses and maintenance services.

The company is at an advanced stage of launching new version of its core product that would be aligned to emergent needs of customers. At the same time, new products especially Auto MWALLET have been added to the suite – wherein fresh clients are being tapped. Notably, recurring revenue is inching closer to provide full coverage to operating costs. Many established international players operate in AutoSoft’s target markets; competition in these markets is challenging.

The rating is dependent on the company’s ability to enrich its revenue stream through continuous investment in requisite research and development initiatives. At the same time, efficiency in working capital management, effectiveness of realigned organizational structure, and strengthening of the governance framework would be essential.

For more information, contact:
Hammad Rashid
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425

Pearl Securities Limited – Weekly Point

Karachi, January 29, 2016 (PPI-OT): Weekly Roundup

Last week was very thrilling as world’s stock markets were the main drivers and dominated the atmosphere all the time. The benchmark KSE-100 touched week high level at 31,462 and concluded at 31,298.60. Total trading volumes remained on the lower note as it decelerates by 21% to 584m shares (All Share Index). Daily average of the trading volumes remained at 117m shares, showing less interest by local and foreign investors.

Results season has already started with encouraging numbers and having potential to pump up the specific sectors next week. PKR appreciation was the good news but it was totally ignored by the participants as KSE-100 index gained marginally by 1% vis-à-vis last week’s close. Monthly and yearly KSE-100 growth have portrayed negative picture. Pearl Securities Limited does not expect no change in upcoming Monetary Policy on January 30, 2016.

Some positive news have reported in outgoing week as Pakistan and Iran are expected to increase trade to USD5bn. The government has issued PKR277.9bn under PSDP against the budgeted amount of PKR700bn. Pakistan to receive upto USD500mn post MSCI re-classification from frontier to emerging market.

Mobicash partners with to simplify Online Shopping Experience

Karachi, January 29, 2016 (PPI-OT): Mobicash has partnered with, the Chinese Online Shopping Portal in Pakistan to facilitate online shopping for making payments for purchases made through The service enables customers with most convenient and secure online payment options.

With the Chinese supplier base of more than 200,000 brings a new revolution of online shopping in Pakistan. Through these deals, products are available at extremely lower as a limited time offer. The portal operates in four major categories including Electronics, Home and Bedding, Appliances, Apparels and also some Automobile parts. The nerve centre of this portal for Pakistan is located in Shanghai, China.

Aniqa Afzal Sindhu, Head of Mobile Financial Services – Mobilink commenting on the partnership said, “The collaboration will provide customers with the utmost ease of shopping online along with the satisfaction of using a reliable and instant medium for payment. We at Mobicash continuously work to bring ease to our customer and this initiative is yet another step in fulfilling the needs of our customers.”

Speaking on this occasion Mr Aurangzeb Khan CEO stated, “The agreement will enable us to integrate into E-commerce market nationwide by introducing best customers solutions for online shoppers. Our product’s quality and best customer service has assured 95% acceptance rate of the products because the products we are dealing in are not available anywhere with such a cost effective price and quality.” To utilize this mobile financial service, Mobicash users can generate an order and pay by visiting Mobicash retail outlet or directly through their Mobile Accounts or credit / debit card.

For more information, contact:
Hussain Ali Talib
Manager – Corporate Communications
42, Kulsum Plaza, Blue Area,
Islamabad, Pakistan
Phone +92-51-2273984, 0301 822 9546
UAN +92-51-111300300

LG Electronics announces fourth-quarter 2015 operating profit

Karachi, January 29, 2016 (PPI-OT): LG Electronics Inc. (LG) today announced a fourth-quarter 2015 operating profit of KRW 349 billion (USD 301.38million), marking a 27 percent increase from the same period in 2014 thanks in large part to improved quarterly profitability from home appliances and home entertainment products.

The LG Home Appliance and Air Solution Company once again proved to be linchpin, reporting solid operating income of KRW 214.8 billion (USD 185.49 million) for the quarter and an increase of 57 percent for the year. Sales across all businesses in the fourth quarter of 2015 totalled KRW 14.56 trillion (USD 12.57 billion), a 3.8 percent increase over the previous quarter, although competitive conditions and currency impacts led to a 4.7 percent revenue decline from the same period in 2014.

Notwithstanding many bright spots with the introduction of industry-leading products in key categories, 2015 was a generally challenging year. Full-year operating income was KRW 1.19 trillion (USD 1.03 billion) in 2015, versus KRW 1.83 trillion (USD 1.58 billion) in 2014. As a result of sluggish global market demand for TVs and softer growth of smartphone market during 2015, full-year revenues were KRW 56.51 trillion (USD 48.8 billion), compared with KRW 59.04 trillion (USD 50.98 billion) the previous year.

The LG Home Entertainment Company reported solid fourth-quarter 2015 operating income of KRW 109.2 billion (USD 94.3million). Fourth-quarter revenues were KRW 4.74 trillion (USD 4.09 billion), up 11 percent quarter-on-quarter as a result of improved OLED and UHD TV sales, although revenues declined year-on-year due to a weaker global TV market and unfavourable foreign exchange movements.

Based on the reaction experienced at CES® 2016, LG believes this year is ripe for wider acceptance of both new LG OLED TVs and LG Super 4K Ultra HD units. LG is further expanding its TV marketing initiatives, exemplified by the company’s first Super Bowl commercial developed by the renowned Ridley and Jake Scott.

The LG Mobile Communications Company posted strong sales of KRW 3.78 trillion(USD 3.26 billion), a 12 percent increase from the previous quarter and unchanged from the same period a year ago, assisted by improved sales in North America. Worldwide, a total of 15.3 million LG smart phones were shipped in the quarter contributing to a total of 59.7 million units in 2015, a slight increase from the 59.1 million shipped in 2014.

The smartphone marketplace is expected to be increasingly competitive in 2016 due to anticipated premium models from competitors and further price competition within the mass tier space. The introduction of two new flagship models and a more cost-competitive value chain is expected to improve profitability in 2016.

The LG Home Appliance and Air Solution Company achieved sales of KRW 3.83 trillion (USD 3.31 billion) in the 2015 fourth quarter, representing slight increase from the same quarter of 2014. In South Korea, revenues increased 13 percent year-on-year due to the popularity of the new TWIN Wash washing machines and premium refrigerators. Strong sales in developed markets such as North America and Europe helped offset weak sales in South America, the Middle East and CIS, where sales declined due to weak demand caused by lower oil prices and currency movements.

Operating profit of KRW 214.8 billion (USD 185.49 million) for the quarter and KRW 981.7 billion (USD 847.75 million) for the year contributed to a strong finish for the year. Expectations are high that the introduction of the ultra-premium LG SIGNATURE line-up in 2016 will help re-energize the LG brand for home appliances in numerous competitive markets.

The LG Vehicle Components Company posted a 9 percent increase in sales quarter-on-quarter to KRW 520.4 billion (USD 449.4 million) mostly due to its growing infotainment business. With revenues growing in each quarter of 2015, the company ended the year with a solid KRW 1.83 trillion (USD 1.58 billion) in sales. LG expects the smart car and electric vehicle component business to grow measurably in 2016, highlighted by the LG-General Motors joint development of the Chevrolet Bolt electric car, which LG plans to leverage to support additional such partnerships.

20154Q Exchange Rates Explained

LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending Dec.31, 2015. Amounts in Korean won (KRW) are translated into U.S. dollars (USD) at the average rate of the three-month period of the corresponding quarter — KRW 1,158 per USD (20154Q).

For more information, contact:
LG Pakistan
Corporate Office
ST-8, 4th Floor, Tower-A, Technology Park,
Main Shahrah-e-Faisal,
Representative Phone Number: +92 (0) 21 32787452
FAX: +92 (0) 21 3278 7463

Huawei directly responds to Samsung’s trembling, so-called Trade-in market stunt

Lahore, January 29, 2016 (PPI-OT): The leading global technology giant, Huawei, has directly responded to the Samsung’s trembling, so-called Trade-In market stunt, recently. Samsung Electronics Co. has already declared at the international and national market of Pakistan that 2016 would be a tough year for the company with respect to the smart phones. That fear, in fact, came from the expanding reach of Technology giant Huawei.

Huawei has predicted its smart phones business growth with incredible figures in this year. It is also to be noted that Huawei has already marked 2015 as the year of Huawei smart phones, in which it has shipped more than 100 million smart phones, Mate S just rocked the markets across the globe and above all Huawei has realistically estimated to hit the revenue target for Pakistan market in next 2-3 years, of around 1-2 billion US dollars.

With the start of 2016 Huawei has announced its outstanding high-tech smart phone Mate 8 to be launched in Pakistan that will be, further, followed by a wide range of exciting Huawei smart technology products. Unlike Samsung and Apple, Huawei expects to grow the business remarkably positive. This has literally left Samsung in hot waters because Huawei is on its marks to take-over the title of 2nd largest global technology manufacturer in the world. Subsequently in a pathetically hilarious attempt to counter the emerging technology giant Samsung has come up with an offer of Trade-In option.

In the so-called Trade-in offer Samsung is trying to pursue the consumers to exchange their smart phones against Galaxy S6 Edge and Galaxy Note 5 and that is not the all but also providing free Samsung Gear VR. This offer is marketed at the time when Huawei is about to launch all new flagship smart phone Huawei Mate 8. However, Samsung has underestimated the real time champ of the technology world. Because in just a few days Huawei Mate 8 pre-bookings crossed 500 orders and consumers are eagerly waiting to get this high technology product without any delay.

Awful situation is for Samsung as people are already crazy about Mate 8 and everywhere from brand outlets to the social media portals Huawei Mate 8 has been ruling with dignity. And it is not a result of any marketing stunt like Samsung tried, instead, it is the policies of Huawei to prefer customers’ need, serving the customers with best of technological innovations, relatively more affordable price and above all focusing robustly on research and development to create finest technology products.

Responding to Samsung’s Trade-in feat Huawei asked the shaky competitor to focus on the technology products and consumer satisfaction at heart. Technology giant Huawei also told the competitor to not to lose patience and avoid repeating laughable tactics to keep it alive in the market.

Huawei Mate 8 will be launched on 31st of January amid glamorous event in Karachi. Heartthrob celebs of entertainment fraternity, VIPs for the technology world, famous media persons, business and technology analysts and of course icons of the fashion industry will join the launch event alongside Huawei high profile officials and brand Ambassadors. Rumours are there that the Technology Giant Huawei may invite the competitors as well to witness the glory of consumer response at the launch event.

For more information, contact:
Sabah Uddin Qazi
ME Brand Manager
8th Floor, Saudi-Pak Tower, Blue Area, Islamabad Pakistan
Tel: +92-51-2800000-20
Fax: +92-51-2800008
Mobile: +92-333-5240632

Warid’s 4G LTE Coverage expands to 34 Cities Nation Wide

Karachi, January 29, 2016 (PPI-OT): After successful launch of 4G LTE services in 30 major cities, Warid today announced the availability of its 4G LTE network in Hafizabad, Jhelum, Mansehra and Hub to take the total toll of 4G LTE enabled cities to 34.

With the launch of 4G LTE services in these cities, Warid is offering its customers:

Free SIM replacements for Warid customers with 4G LTE compatible handsets

Free 4G LTE trial for all existing and new Warid customers whereby they will be entitled for 1GBs FREE Internet for 5 days

G’FIVE LTE 2 and LTE 3 Handsets for just Rs.6,999 and Rs. 10,999 respectively with 24GB Free internet for 1 year available at selected Franchises and Retail Outlets

This offer is valid for all existing customers who can get their Warid SIMs replaced with 4G LTE SIMs and new customers switching to Warid’s network from other mobile operators.

Warid’s 4G LTE is available in below cities:

Karachi, Lahore, Islamabad, Rawalpindi, Faisalabad, Multan, Peshawar, Gujranwala, Sialkot, Sheikhupura, Murree, Quetta, Wah, Taxila, Hyderabad, Bhurban, Jamshoro, Abbotabad, Daska, Kot Abdul Malik, Sharaqpur, Lalamusa, Kamoki, Muridke, Sahiwal, Sargodha, Okara, Gwadar, Turbat, Kasur, Hafizabad, Jhelum, Mansehra and Hub.

For more information, contact:
Shahzad Ahmad
Public Relations Officer
Warid Telecom (Pvt.) Limited
Phone: +92-321-4444855

Pakistan Credit Rating Agency Limited revises stability rating of PIML Daily Reserve Fund

Lahore, January 29, 2016 (PPI-OT): The Pakistan Credit Rating Agency (PACRA) has revised the stability rating of PIML Daily Reserve Fund (PIML DRF), an open-end money market fund, to ‘AA(f)’ (Double A; fund rating) [Previous Rating: ‘AA+’ (Double A plus)]. The fund’s rating denotes a very strong capacity to manage relative stability in returns and very low exposure to risks.

The objective of the fund is to generate consistent returns with minimal risk by investing primarily in government securities, cash and near cash instruments. The revised rating reflects the fund’s new investment philosophy to allocate less than 50% in Government Securities and duration of 90 days or less.

At end Dec-15, the majority of the fund’s assets (81%) were invested as cash with high rated (‘AA’ and above) commercial banks. The remainder of the assets were placed with banks (9.4%) and DFIs (9.4%). The unit holding pattern of the fund is highly concentrated with top10 investors representing almost the entire fund which exposes the fund to redemption pressure.

Going forward, the rating remains dependent on maintaining at least 25% allocation towards government securities with portfolio duration not exceeding 90 days. Meanwhile, the remaining assets of the fund must be placed with scheduled banks and DFIs having credit ratings ‘AA’ and above. PACRA would monitor compliance against agreed parameters on monthly average basis.

For more information, contact:
Hammad Rashid
The Pakistan Credit Rating Agency Limited (PACRA)
Awami Complex, FB1, Usman Block New Garden Town,
Lahore – Pakistan
Tel: +9242 586 9504 -6
Fax: +9242 583 0425