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Arif Habib Corporation Limited Has Spent the Last 25 Years Investing and Reinvesting in Our Nation

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Arif Habib Corporation Limited Has Spent the Last 25 Years Investing and Reinvesting in Our Nation ANNUAL REPORT 2019 Reinvesting in our Nation Reinvesting in our Nation Arif Habib Corporation Limited has spent the last 25 years investing and reinvesting in our Nation. We believe Pakistan has plenty to offer not only to its own people, but the rest of the world as well. Every day we strive to turn opportunities into possibilities. We recognise our people, the talent, and resources Pakistan has, and make genuine efforts for mutual development. We partner with businesses, policymakers, and the people to make a difference. Arif Habib Corporation believes in collaboration with stakeholders, and follows the values of good governance. This is all because we believe in Pakistan, and want to invest in its future. The Arif Habib Group’s Journey 1994 2001 Establishment of Arif Listing of Arif Habib Establishment of Asset Establishment of Arif Habib Securities Limited Corporation Limited on Management Company, Habib Limited by (now Arif Habib Stock Exchange Arif Habib Investments separating brokerage Corporation Limited) (now MCB-Arif Habib business from Arif Habib Saving and Investment Corporation Limited Limited) 2006 2007 2008 Acquisition of Javedan Invested in Power Became a joint venture Acquired stake in ICPL Cement Limited Cement Limited partner in Aisha Steel (Dolmen City) Mills Limited 2011 2012 2015 Launch of Naya Establishment of Arif Launch of Dolmen City Acquisition of DH Nazimabad Housing Habib Commodities REIT, South Asia’s first Fertilizers Limited (now Project (Private) Limited listed REIT Fatimafert Limited) 2004 2005 2006 Acquired Rupali Bank, Acquisition of Sukh Acquisition of Pakarab Invested in Fatima renamed Arif Habib Chayn Gardens and Fertilizers Limited Fertilizer Company Rupali Bank Limited and Thatta Cement Limited, which was then Arif Habib Bank established as a green Limited; field project 2009 2011 Establishment of REIT Divestment of Arif Habib Acquisition of Sachal Merger of Arif Habib Management Company Bank (now Summit Bank) Energy Development Investments and MCB and Thatta Cement (Private) Limited Asset Management (to set up Wind Power) 2017 2019 Achievement of Financial Incorporation of Black Achieved COD of Aisha Close for expansion of Gold Power Limited for Steel’s expansion Aisha Steel and Power 660MW Coal Power Cement (USD 300m) Project Introduced Introduced Launched Active brokerage firm brokerage Active A securities brokerage and investment and investment A securities brokerage banking company. Consistent winner of PSX Top 25 Companies 25 Companies Top winner of PSX Consistent banking company. award CFA Award, Asset The Award, Arif Habib Dolmen REIT Management Company: REIT of South Asia listed Dolmen City REIT – First (Pvt.) Arif Habib Commodities Limited: futures of commodities Limited: and Investments Habib Savings MCB-Arif in international Fund, investment Income of Fixed the concept practices industry and best markets FINANCIAL SERVICES Arif Habib Limited: (Karachi) ce building ce ! for middle class for REAL ESTATE ce Building ce (Karachi) - A high end (Karachi) and upper middle class mall and o ! project for the middle class for project (Karachi) - A modern housing (Karachi) ce Building ce (Lahore) - A housing development (Lahore) ! (Islamabad) - High end apartment building Arif Habib Centre, O Arif Habib Centre, WINNER OF PSX TOP 25 COMPANIES AWARD – 8 TIMES (Karachi) - An apartment building for the middle - An apartment building for (Karachi) ARIF HABIB CORPORATION LIMITED We are humbled to have had the privilege contribute nation’s prosperity and vibrancy Sukh Chayn Gardens Sukh Chayn A PUBLIC LISTED HOLDING COMPANY OF ARIF HABIB GROUP Naya Nazimabad Housing Scheme Naya REMMCO Tower Tower REMMCO Sukh Chayn Residency Residency Sukh Chayn Dolmen Mall & Harbour Front O Dolmen Mall & Harbour Front PRIVATISATION PRIVATISATION TRANSACTIONS Limited Fertilizers Pakarab Limited Cement Javedan Mills Limited Steel Pakistan Cement Thatta HOSPITALS Mukhtar A Sheikh Hospital - Multan – Karachi Nazimabad Medical Centre Naya Hospital – Karachi Memon Medical Institute Hospital - Karachi General Kharadar Namal College Habib University Sciences (LUMS) Sciences Leadership (KSBL) Leadership Institute of Business of Business Institute Administration (IBA) Administration Karachi School of Business & School of Business Karachi EDUCATIONAL INSTITUTIONS EDUCATIONAL Lahore University of Management University Lahore GREENFIELD PROJECTS Limited Company Fertilizer Fatima Mills Limited Aisha Steel Limited (Private) Development Sachal Energy CSR PROJECTS CSR PROJECTS MOSQUES Nazimabad Jama Mosque Naya Mosque Sukh Chayn headquarters Aisha Masjid - HANDS Aisha Steel Masjid at SPORTS in Pakistan ACQUISITIONS Basketball Court Basketball Football Stadium in Naya in Naya Stadium Football Essa Cement now Power Cement Power now Cement Essa Nazimabad with flood lights First ever reality cricket show cricket reality ever First DH Fertilizers now Fatimafert Limited Fatimafert now DH Fertilizers World Class Cricket Stadium in Stadium Cricket Class World Naya Nazimabad with flood lights Naya Naya Nazimabad Gymkhana witha Nazimabad Gymkhana Naya range of indoor and outdoor sports of indoor and outdoor range The Arif Habib Group Since initiation, the Arif Habib Group has grown by imagining possibilities and developing a blueprint to convert them into reality. It has made a difference to lives across Pakistan by being a responsible investor supporting the country’s growth story and boosting relevant sectors of national importance. With an entrepreneurial essence and passion to strength. To continuously strive for quality and undertake business projects that fuel the growth of excellence are an integral part of the Group’s society and economy, the Arif Habib Group has built business model and these are not merely corporate and continues to develop businesses in the areas of slogans but the formula for achieving success. An financial services, fertilisers, cement, steel, important part of our strategy is to continue raising renewable energy and real estate development. the bar. After having found a strong foothold in financial With a strong belief, consistent and unwavering services, the Group, over time, has diversified into faith in Pakistan’s immense growth potential, the emerging business areas, with meaningful Arif Habib Group is committed to serve the country, contributions to Pakistan’s economy. The Group community and all its stakeholders reach maximum draws strength from its own human capital, as well potential through innovation, transforming as, its ability to forge strong partnerships with other challenges into opportunities. business houses and benefit from collective Arif Habib Corporation Limited Arif Habib Corporation Limited (AHCL) is the flagship company of the Arif Habib Group. The company took over the sole proprietorship business set up by Mr. Arif Habib in 1990 and was incorporated in 1994 as a public limited company with a paid up capital of PKR 40 million. AHCL was listed in 2001, with an initial public Thus, by 30th June 2019, the initial investors in the offering (IPO) of one million shares, targeting to IPO of the Company, have had a compounded raise PKR 80 million in order to finance growth. annualised return of 27.5% (2001). Since its listing in 2001, the Company has distributed PKR 13 billion as dividend (including The Arif Habib brand, is today seen as the name that specie dividend) and PKR 720 million by buying back assures a commitment to best practices and two million shares (having face value of PKR 10 putting its stakeholders first, which they have come each) at a price of PKR 360 per share from its to expect of the Company striving to be the best in shareholders. The Company’s equity as on 30th June its class. 2019 is PKR 20 billion built through retained earnings. Contents 11 Corporate Overview 48 Arif Habib Limited 11 Vision Statement 48 MCB-Arif Habib Savings and Investments Limited 11 Mission Statement 49 Aisha Steel Mills Limited 11 Corporate Strategy 49 Power Cement Limited 12 Objectives 50 Sachal Energy Development (Pvt.) Limited 12 Values 50 Arif Habib Commodities (Pvt.) Limited 51 Arif Habib Dolmen Reit Management Limited 13 Company Information 51 Javedan Corporation Limited 15 Chairman’s Review 17 Chief Executive’s Performance Review 52 Financial Highlights 18 Board of Directors 53 AHCL 2019 at a Glance 21 Board of Directors Profile 54 Key Figures and Highlights 27 Key Management 55 Financial and Business Highlights – Six Years at a 29 Directors’ Report Glance 38 Statement Showing Shares Bought and Sold 57 Horizontal Analysis of Financial Statements 39 Statement Showing Attendance at Board 59 Vertical Analysis of Financial Statements Meetings and Board Committee Meetings 61 Summary of Cash Flow Statement 42 Pattern of Shareholding 62 Share Price/ Volume Analysis 45 Group Companies 63 Sustainability Report - Reinvesting in Pakistani 47 Fatima Fertilizer Company Limited Economy, Society & Environment 47 Pakarab Fertilizers Limited 68 Governance & Management Forward Looking Statements Statements in this report that are not historical facts are futuristic plans based on the current beliefs, estimates and expectations of management and includes risks and uncertainties coupled with variations in economic or market conditions, amendments in laws, regulations and policies. 69 Criteria to Evaluate Board’s Performance 129 Audited Consolidated Financial Statements 71 Report of the Audit Committee on Adherence to 130 Independent Auditors’ Report To the Members the Best Practices of Code of Corporate
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