Haier tops Euromonitor’s global brand rankings

Lahore (PR): Haier has once again been ranked the number one appliances brand in the world for the seventh consecutive year. The ranking, released by Euromonitor International, the independent, leading global provider of business intelligence on industries, companies, countries and consumers, recognizes Haier as the largest home appliances brand by market share, with a global retail volume of 9.8% in 2015.

This is a significant achievement, considering the weak growth in the global home appliances market. Haier was able to succeed and maintain its recognized position as the world’s leading home appliances manufacturer largely owing to its ability and desire to adapt its business model to the Internet age and, to the shifting demands of connected consumers.

Haier has created an entire ecosystem that nurtures and develops innovative ways to engage with its consumers. One such example is Haier’s concept and application of ‘Online factories’.

Haier has already launched a number of these online factories, including a refrigerator factory in Shenyang and an air conditioner factory in Zhengzhou. By linking consumers to factories and suppliers online, Haier consumer have in fact become designers and are able to directly take part in the R&D and manufacturing processes for new products. What this effectively means is that Haier has taken the first significant and practical steps to turn the world into its R&D, and human resource departments.

Credit Suisse rated MCB Bank as the best bank

Lahore (Staff Reporter): Credit Suisse, one of the most prestigious financial company in the world, has rated MCB Bank as the best bank in Pakistan and among the best three banks in Asia Pacific region.

Credit Suisse is headquartered in Zurich and its Investment Research is considered to be one the most credible source of financial information for investment opportunities in the world.

According to the report, MCB is the best saving deposit franchise in Asia with demand deposits and saving deposits constituting 38% and 54%, respectively, of total deposits; has the best operating efficiency among PK banks (cost-to-income ratio of 36.5%) and also one of the best in Asia; has the best asset quality management track record among PK banks with the lowest nonperforming loan ratio of 5.8%; and the best capital ratio among PK banks with Tier 1 capital ratio of 16.5%.

In Asia, MCB is the best deposit franchise (CASA 92 percent), and has some of the widest net interest margins (5.41 percent in 2015), second lowest LDRs (43 percent) and third best ROAs (2.6 percent in 2015).

They rated MCB basically, a very high-quality and conservative bank, which can be considered a bond fund (raises deposits at an average ~3.3 percent, invests in government bonds yielding ~8.3 percent gaining a risk free spread of 5 percent).

The report also said that Pakistan has enjoyed a substantial reduction in the cost of equity since 2013 on the back of an improving political environment. ‘The pro-business approach of the new government helped sentiments further. The improving macro backdrop made PK banks the best performers in Asia over the past three years and second-best in the past five years,’ the report added.

Earning high-teen ROEs despite the sharp decline in margins over the past few years, MCB is available for 1.4x book (Maybank bought 20 percent stake in 2008 at 5.1x book). ‘We consider MCB among top three banks in Asia and compare it with HDFC Bank and BCA,’ stated the research report.

Best eLogistics & Supply Chain Software

Lahore (PR): The ISO 14001 and 22000, Halal certified edible oil, fats and fine foods company APAG are the makers of Soya Supreme, Malta, Smart and Champion and Taqat margarine. Their flagship brand Soya Supreme has won several major awards including Super Brands 2007-2009, Brand of the Year 2007-2011 and Export Brand of the Year in 2007. With a state of the art manufacturing facilities including a Fractionation Plant from Belgium, APAG was the pioneer of industrial margarine in Pakistan and brought about a revolution in bakeries in the 1980’s. This highly regarded and fast growing company has opted for the Award-winning BizzTrax ERP software to manage its operations in Pakistan. This implementation at APAG is a wonderful addition to the BizzTrax portfolio of projects.

Both the entities have been working together for over 2 years and BizzTrax has helped them to-date in automating and uplift the operational performance of many activities/processes including Finance, Procurement, Inventory, Warehousing, Primary & Secondary Sales and Business Intelligence.

RMS, Qatar Airways

sign MoU

ISLAMABAD (PR): A memorandum of understanding was signed between Roots Millennium Schools and Qatar Airways yesterday in a graceful ceremony at The Millennium University College-TMUC H-11/4, Islamabad.

The main objective of this memorandum of understanding is to be beneficial for both companies and to suit best to Roots Millennium Schools’ students, management and faculty members supporting the outreach department and its frequent international travels for youth delegations, international children festivals, forums, seminars, orientations, cultural & educational visits to different countries around the world, says a press release issued here.

Both organisations mutually agreed to enhance business perspective and in many other areas including internships and career opportunities for Millennium Schools and The Millennium University College graduates consequently.

Speaking on the Occasion, Chief Executive Chaudhry Faisal Mushtaq emphasized to millennial students on perks & privileges of travelling and exploration of 150 destinations through their reciprocal business partnership with Qatar Airways. Commercial Manager Islamabad Region Mr. Mohammed Ikram Ullah confirmed Qatar Airways will be assuring availability of international destinations through this MOU for RMS students and employees and he looks forward to strengthening relations between both companies for long lasting partnership.

Non-compliance major hurdle in exports

Our staff reporter


Non-compliance with the international food safety standards by the local companies is a major hurdle in improving exports.

This was the upshot of the speakers who addressed the Food Safety Management System Certification award ceremony. They said domestic companies in food sector can penetrate into the global food market by enhancing their level of compliance to food safety measures.

During the event, TUV Austria Bureau of Inspection and Certification announced that it has successfully awarded its certifications of ISO 9001 & ISO 22000 to a Pishawar-based company ‘Euro industries (Pvt.) Ltd’ that produces processed meat for local as well as export markets.

It is to be noted that the TUV Austria has already certified the Food Safety Management System of several recognised companies and awarded them ISO 22000, including National Foods Limited, Converters (Pvt) Ltd and Chase International etc. The certification company has so far certified numerous national food companies for ISO 22000, FSSC 22000, Halal, HACCP and ISO 9001, enabling them to penetrate into the international market.

Speakers said that only a limited number of food companies are ISO22000, FSSC 22000, Halal, HACCP and ISO 9001 certified. Those having these certificates have been able to penetrate into the international market.

The speakers said food safety and public health are serious concerns across the world and food chain companies, by implementing Food Safety Management System, not only can address these concerns but also enhance their trade significantly.

The TUV Austria Bureau of Inspection and Certification (Pvt.) Ltd, besides awarding ISO 22000, is well known for providing IRCA Accredited Lead Auditor Courses, Management System Certifications etc. to a wide range of industries globally for over a century.