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December 2011 2Nd Quarter

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December 2011 2Nd Quarter growth through energy THE HUB POWER COMPANY LIMITED UNAUDITED QUARTERLY FINANCIAL STATEMENTS FOR THE SECOND QUARTER / HALF YEAR ENDED DECEMBER 31, 2011 Vision To be an energy leader – committed to deliver growth through energy. Mission To be a dynamic and growth – oriented energy company that achieves the highest international standards in its operations and delivers a fair return to its shareholders, while serving the community as a caring corporate citizen. C O N T E N T S THE HUB POWER COMPANY LIMITED PAGE Company Information 1 Report of the Directors 3 Auditors’ Review Report to the Members 5 Condensed Interim Unconsolidated Profit & Loss Account 7 Condensed Interim Unconsolidated Statement of 8 Comprehensive Income Condensed Interim Unconsolidated Balance Sheet 9 Condensed Interim Unconsolidated Cash Flow Statement 10 Condensed Interim Unconsolidated Statement of Changes in Equity. 11 Notes to the Condensed Interim Unconsolidated Financial Statements 12 THE HUB POWER COMPANY LIMITED and its Subsidiary Company Report of the Directors on the Consolidated Financial Statements 17 Condensed Interim Consolidated Profit & Loss Account 18 Condensed Interim Consolidated Statement of Comprehensive Income 19 Condensed Interim Consolidated Balance Sheet 20 Condensed Interim Consolidated Cash Flow Statement 21 Condensed Interim Consolidated Statement of Changes in Equity 22 Notes to the Condensed Interim Consolidated Financial Statements 23 COMPANY INFORMATION BOARD OF DIRECTORS M. A. Alireza H.I. (Chairman) Zafar Iqbal Sobani (Chief Executive) Dr. Fereydoon Abtahi Yousuf A. Alireza Robin A. Bramley Dr. Asif A. Brohi NBP Nominee Malcolm P. Clampin Taufique Habib Arshad A. Hashmi Qaiser Javed Iqbal Ahmed Khosa GOB Nominee Ali Munir Philippe F. A. L. Salmon S. Nizam A. Shah M. Ashraf Tumbi Audit Committee M. Ashraf Tumbi (Chairman) R.A. Bramley Malcolm Clampin Ali Munir Qaiser Javed COMPANY SECRETARY Shamsul Islam MANAGEMENT Zafar Iqbal Sobani Chief Executive Officer Abdul Nasir Chief Financial Officer Huma Pasha Chief Internal Auditor Abdul Vakil Chief Technical Officer Shamsul Islam Company Secretary Wasif Mustafa Khan Head of Projects Lesley A. Middlecoat Sr. Manager PR, HR & Admin HEAD OFFICE 3rd Floor, Islamic Chamber of Commerce Bldg; ST-2/A, Block 9, Clifton, P.O.Box No. 13841, Karachi-75600 Email: [email protected] Website: http://www.hubpower.com REGISTERED OFFICE C/o. Famco Associates (Pvt) Ltd., 12, Capital Shopping Centre, Second Floor, G-11 Markaz, Islamabad 1 PRINCIPAL BANKERS Allied Bank of Pakistan Askari Bank Limited Bank Al-Falah Limited Bank Al-Habib Limited Bank of Punjab Bank Islami Pakistan Limited Barclays Bank PLC Pakistan Burj Bank Limited Citibank N.A. Karachi. Faysal Bank Limited Habib Bank Limited Habib Metropolitan Bank Limited Meezan Bank Limited MCB Bank Limited NIB Bank Limited Pak Brunei investment Company Limited Pak China Investment Company Limited Pak Kuwait Investment Company (Pvt) Ltd., Samba Bank Limited Standard Chartered Bank (Pakistan) Ltd., Sumitomo Mitsui Banking Corp. Europe Ltd., London United Bank Limited INTER-CREDITOR AGENTS: National Bank of Pakistan, Karachi Habib Bank Limited Allied Bank Limited NIB Bank Limited LEGAL ADVISORS Rizvi, Isa, Afridi & Angell, Karachi AUDITORS Ernst & Young Ford Rhodes Sidat Hyder REGISTRAR Famco Associates (Pvt) Limited 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30.
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