PPL’s 63rd AGM approves 75pc cash dividend
KARACHI (PR): The 63rd annual general meeting (AGM) of Pakistan Petroleum Limited (PPL) was held on Friday.
Shareholders of the company approved financial statements together with the auditor’s report for the fiscal year ended June 30, 2014 besides payment of final cash dividend of 75 per cent on ordinary share capital. This is in addition to an interim cash dividend of 50 per cent already paid to shareholders, bringing total distribution for the financial year 2013 -2014 to 125 percent cash dividend. Chairman of the newly elected Board of Directors Waqar A Malik appreciated the outgoing Board for steering the company to greater achievements aligned with best governance practices. Expressing confidence in the new Board, Malik stated that its collective experience will drive the corporate agenda with vigor to further enhance shareholder value.
On behalf of the Board, MD and CEO Arshad Mirza apprised members on the company’s performance, highlighting milestones achieved during the financial year, notably a string of discoveries in company-operated blocks, including gas-condensate from Shahdad X-I in Gambat South Block and tight gas from Naushahro Firoz X-I in Naushahro Firoz Block.
Subsequent to the year-end, Adam West X-1, Sharf X-I and Kinza X-I wells at company-operated Hala and Gambat South blocks, respectively, also flowed gas and condensate. The company, assured Mirza, is striving to fast track first gas from the discoveries. Sharing significant achievements on the joint ventures front, Mirza mentioned the oil discovery at Ghauri X-1 well in partner-operated Ghauri Block and the inauguration of first gas delivery from Latif-Sawan Development Project.
Honda in CDP Global 500
Climate Change Report 2014
TOKYO (PR): Honda Motor has announced that it has earned a perfect climate disclosure score of 100 in the CDP Global 500 Climate Change Report 2014, which analyzes the initiatives of the world’s 500 largest companies in addressing countermeasures against global warming and the disclosure of information regarding greenhouse gas (GHG) emissions.
With the perfect disclosure score, for the fourth consecutive year, Honda was listed as one of the companies in the CDP’s “Climate Disclosure Leadership Index (CDLI),” which names the world’s most advanced companies in the area of disclosures related to global climate change.
Nikon School launched
LAHORE (PR): Nikon School was launched recently by Camtronx Pakistan that will provide comprehensive training programmes to the photographers. In order to commence its operations, a launch ceremony was held in Dome Hall, Royal Plam Golf & Country Club, where Takashi Yoshida, Managing Director Nikon was invited as the guest of honor.
Nikon School is a venue for photography training that aims to educate and inspire photographers of all levels of photographic abilities. It offers a wide range of workshops suited to individuals wanting to learn more about photography or expand their creative horizons.
The Nikon School workshops are a mix of easy to understand theory and hands-on practical assignments. From understanding your Digital SLR and lenses; from image editing to HDR montages; from location fashion shoots to capturing candid street portraits; from making HD video films to inspiring landscapes or wildlife photography; our workshops cover a variety of skills and subjects.
Standard Chartered’s
credit card for travellers
KARACHI (PR): Recognising the rising travel trend amongst Pakistanis, Standard Chartered Bank has unveiled its new credit card offering – Standard Chartered WorldMiles Card. The new credit card is targeted at frequent travellers and travel enthusiasts alike.
The WorldMiles proposition offers cardholders the exciting possibility of redeeming reward points for airline tickets to a destination of their choice on any airline. It is the only card in Pakistan to offers its customers a universal menu of destinations and airlines coupled with additional travel related benefits and privileges. Powered by leading Travel Partners and Alliances it offers a complete travel solution for the avid traveller.
“Travel is a preferred leisure activity, and we see this growing amongst Pakistanis as air travel become more affordable and accessible.” said Shazad Dada, Chief Executive Officer, Standard Chartered Pakistan. “With robust growth in air travel, business and leisure travellers have become a key segment. We believe that our customers will benefit from the Standard Chartered WorldMiles card and enjoy its extensive rewards.”
Commenting on the launch Naseer Hasan, Head of Retail Clients said, ““This is the one card that you would love to have. We want to be the main bank to customers and this new card is a critical component of our Retail business startgey. At Standard Chartered, we focus on fulfilling customers’ needs by providing the right solutions, with technology as the enabler; we will deliver faster, simpler and more convenient services. This customer-focused model has become the heart of our strategy, enabling our business to further grow whilst enhancing our customers’ banking experiences.”
Dr Amjad visiting UK
LAHORE (PR): Dr Amjad Saqib, founder and executive director of Akhuwat, is on a visit to the UK from October 21-27 to introduce and share the success story of Akhuwat. He has been lauded for his efforts for promoting socio-economic development in Pakistan and was awarded the prestigious civilian award Sitara-e-Imtiaz in 2010 by the Government of Pakistan.
Akhuwat is dedicated to improving the lives of the poor; those who are financially abused, abandoned and disregarded by society. As a registered non-governmental organization, Akhuwat provides the poor with interest-free loans so that they may acquire a livelihood and the skills they need to reach their full potential.
Drawing on the principles of social justice and brotherhood, Akhuwat relies on local philanthropy, operates through religious places and seeks to inspire and harness the spirit of volunteerism in society. In this manner, the mandate of Akhuwat extends beyond financial transactions as it makes every effort to guide, support and empower the poor.
Sindh Bank profit
KARACHI (PR): The Board of Directors of Sindh Bank has approved financial results for the nine months period ended September 30, 2014. The bank posted pre-tax profit of Rs. 1,079.388 million, showing an increase of 20% over the corresponding period of last year. This also exceeded the total profit of Rs. 953.400 million earned during the whole year 2013.
Deposits stood at Rs. 58.422 billion as on September 30, 2014 registering a growth of 27.7% while Advances amounted to Rs. 37.585 billion i.e. an increase of 41.5% over 2013. The bank also recorded a 300% growth in disbursement of Agricultural loans during 2013-14, surpassing even the revised SBP target.
The Bank’s assets quality remained sound with minimal infection in advances and investments predominantly in Pakistan Investment Bonds and Treasury Bills.
Right from its inception, the bank pursued an ambitious growth plan and opened 200 branches in less than three years period. For the current year, the bank however focused on consolidating its operations and decided to open only 25 branches including five Islamic Banking Branches. The same strategy will continue and only 25 new branches are planned for the year 2015, majority being dedicated for Islamic Banking.
In its continuous pursuit of customer satisfaction, the Bank is in an advanced stage to make its Debit/ATM card globally acceptable by joining up with a leading international financial services provider.
Conscious of the Government and SBP efforts to promote Islamic Banking, Sindh Bank commenced Islamic Banking business under the brand name “Sa’adat” on June 26, 2014 by opening its first Islamic Banking branch whereas four more dedicated branches will be added in the last quarter.
JCR-VIS Credit Rating Company Ltd has maintained the Bank’s entity rating at A-1 + for short term and AA- for medium to long term. Outlook on the assigned ratings has however been improved from STABLE to POSITIVE. High Capital Adequacy Ratio, Bank’s growth plans and strong capitalization over the foreseeable future were the major considerations behind improvement of the outlook.
Tripple-Em sales conference
LAHORE (PR): Tripple-Em (Pvt.) Ltd, the manufacturer of Super Crisp, organized its sales conference 2014 at a local hotel here the other day. The company distributed prizes (motor cycles, cell phones, LCDs and cash prizes) among the best performing sales staff and distributors at the event.
General manager Rizwan Ahmed and marketing manager Rao Tanvir Ahmed gave useful tips to the sales staff during a training session at the event.