Changhong Ruba brings foreign investment

LAHORE (PR): Changhong Ruba recently stormed the market with their state-of-the-art products ranging from LEDs, air conditioners, water dispensers and refrigerators and more products coming in the future.

On Friday, the signing ceremony of a new initiative took place here in Lahore. The company Changhong Ruba shall lay a state-of-the-an factory in Pakistan for the manufacturing of refrigerators. It’s a remarkable initiative by Changhong Ruba to bring foreign investment in Pakistan and it would be a step for bringing the latest technology and equipment to produce the world class standard refrigerator products for the consumers of Pakistan. At the ceremony, Changhong Ruha’s key personnel were seen along with the company’s important figures from Pakistan and China.

Changhong, a Chinese entity and Ruba, a Pakistani entity have come together forming one of the world’s leading electronic companies.

KASB books Rs237m profit

KARACHI (PR): The Board of Directors of KASB  Bank has announced its annual results for 2013. The operating profit was Rs.237 million. The bank has remained in a comfortable liquidity zone throughout the year. Current and Saving deposits (CASA) were 76% of total deposits as at 31st December 2013. The management plans to generate additional deposits without distorting its low cost deposit base.

The Bank’s focus has remained on recoveries of its stuck up advances (NPLs). The good news is that the bleeding of NPLs is coming to an end.

The net NPLs reduced to Rs 3.1 billion whereas the coverage ratio has increased to 72% from 52% last year. Furthermore, NPLs worth Rs 4 billion stand fully provided for.

The future plans show significant recoveries from the stuck up portfolio of NPLs going forward.

The management has successfully completed conversion of 20 branches into business branches. These branches have been separated from Branch Banking and have become part of Business Group broken down into North and South.

Resulting from strict cost control measures, the bank has managed to show a reduction in its operating expenses compared to last year.

Service quality and HR were the major focus of attention during 2013.

As part of the capital plan of the Bank, the sponsor shareholders have placed, so far, US dollar fifty (50) million towards capital and advance against issue of future rights in  2011/2013. Further, in order to address the capital deficiency and financial condition, the Board of Directors have approved a restructuring and recapitalization plan of the Bank.

Genesys, C Square  join hands with Bahria Town

ISLAMABAD (PR): Genesys, a leading provider of customer experience and contact center solutions, has announced that Bahria Town has become the first company in Pakistan to adapt Genesys Social Media Engagement Tools. The new collaboration, done through C Square Consulting, a Genesys Bronze Partner, has resulted in the deployment of Genesys Contact Center Solution which enables Bahria to service customers through Voice, Web Chat, Email, SMS, and Social Media.

“With the deployment of Genesys solutions, Bahria Town will now be able to easily identify customer sentiments and engage with them when necessary using the right platform,” said Mohamed Afifi, Managing Director of the Middle East, Genesys. “Being the largest real estate development company in Pakistan, Bahria Town has many of its investors residing abroad who prefer to communicate via social media forums, web-chat and emails. We are confident that our solutions are capable to ensure the level of experience which both the company and its stakeholders aim to achieve.”