DOCSLIB.ORG

Faysal Funds

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Faysal Funds Accounts forthe Quarter Ended September 30, 2008 FAYSAL BALANCED GROWTH FUND The Faysal Balanced Growth Fund (FBGF) is an open-ended mutual fund. The units of FBGF are listed on the Karachi Stock Exchange and were initially offered to the public on April 19, 2004. FBGFseeks to provide long-term capital appreciation with a conservative risk profile and a medium to long-term investment horizon. FBGF's investment philosophy is to provide stable returns by investing in a portfolio balanced between equities and fixed income instruments. Fund Information Management Company Faysal Asset Management Limited Board of Directors of the Management Company Mr. Khalid Siddiq Tirmizey, Chairman Mr. Salman Haider Sheikh, Chief Executive Officer Mr. Sanaullah Qureshi, Director Mr. Syed Majid AIi, Director Mr. Feroz Rizvi, Director CFO of the Management Company Mr. Abdul Razzak Usman Company Secretary of the Management Company Mr. M. Siddique Memon Audit Committee Mr. Feroz Rizvi, Chairman Mr. Sanaullah Qureshi, Member Mr. Syed Majid Ali, Member Trustee Central Depository Company of Pakistan Limited Suit #. M-13, 16, Mezzanine Floor, Progressive Plaza, Beaumont Road, Near PIDC House, Karachi. Bankers to the Fund Faysal Bank Limited MCB Bank Limited Bank Alfalah Limited Atlas Bank Limited The Bank of Punjab Auditors Ford Rhodes Sidat Hyder & Co., Chartered Accountants Legal Advisor Mohsin Tayebely & Co., 2nd Floor, Dime Centre, BC-4, Block-9, KDA-5, Clifton, Karachi. Registrars Gangjees Registrar Services (Pvt) Limited Room # 506, 5th Floor, Clifton Centre, Kehkashan Clifton - Karachi. Distributors Access Financial Services (Pvt.) Ltd. AKD Securities (Pvt.) Limited Faysal Asset Management Limited Faysal Bank Limited PICIC Commercial Bank Limited Reliance Financial Products (Pvt.) Limited Invest Capital & Securities (Pvt.) Limited Flow(Private) Limited IGI Investment Bank Limited Pak Oman Investment Bank Limited Alfalah Securities (Pvt) Limited JS Global Capital Limited t"''' e , FAYSAL BALANCED ~ . Mission Statement GROWTH FUND ---------------------- ---- - - - FBGF endeavours to provide ~ investors with an opportunity to earn income and long-term capital appreciation by investing in a large pool of funds representing equity / non equity I investment in a broad range of sectors and financial instruments. REPORT OF THE FAYSAL DIRECTORS OF THE BALANCED \. MANAGEMENT COMPANY GROWTH FUNC ------ -- - - - The Board of Directors of the Faysal Asset Management Limited, the management company of thE Faysal Balanced Growth Fund (FBGF), is pleased to present the un-audited accounts of FBGF for thE quarter ended September 30, 2008. Quarter ended Quarter ended September September 2008 2007 Total (Loss) / Income (166.51) 14.05 Operating Expenses 6.85 8.56 (Loss) / Profit Before Tax (173.36) 5.49 Taxation (Loss) / Profit After Tax Loss for the quarter amounted to Rs. 173.36 million. Loss after tax for the quarter includes net realizec capital loss of Rs. 63.13 million and unrealized loss of Rs. 138.21 million. The Fund has earned dividend income of Rs. 4.04 million and in view of its exposure in listed rated Term Finance Certificates, the Fund earned 5.25 million during the quarter. The long-term gains of the fund were turned into medium-term loss due to the current economic situation in the country resulting in negative equity market performance. Fund Performance: FBGF posted a decline of -19.98% for the quarter where as KSE-1 00 index declined by -25.28%. FBGF had an average asset allocation of 56.21 % equity and 43.79% fixed income exposure during the quarter ending September 30, 2008. Average open-ended balanced equity funds posted a return of -13.38% during the nine month period. FBGF stood as the third best performing balanced equity fund in a spectrum of six funds. 30-Sept 2008 Change KSE-100 Index 12,289.03 9,182.80 -25.28% FBGF NAV (ex-bonus) 100.00 80.02 -19.98% Market Review: The equity markets continued a downward trend during the quarter finally resulting in a self-imposed floor by the KSE-management. This self-imposed floor provided short-term relief to the investors at the level of 9,144 points. This action led to record low volumes at the KSE. This action further led to a liquidity crisis in the financial markets. The KSE-1 00 index started the year at 12,289.03 and ended the quarter at 9,182.80 marking a loss of 19.98%. The FDI and FPI indicated declining trends as compared to the similar quarter of the previous fiscal year. Special Rupee Convertible Account, SCRA did not show any significant signs of recovery after the recent foreign funds outflow from our equity markets. The economy witnessed large outflows from its foreign reserves and a rating downgrade by S&P. The global turmoil has impacted this local turmoil along with the law & order situation in the country. On the international front all mature and emerging markets including the U.S., European and Asian markets remained in focus due to the trickle-down impact of the sub-prime credit crisis of the U.S. economy. Dow Jones Industrial Index declined to a 5 year low level below 8,500. The European markets witnessed unprecedented defaults by large banks impacting nationalization of commercial banks by Iceland. Quarterly Report Sept. '08 - Page I03 ----- -- REPORT OF THE FAYSAL DIRECTORS OF THE BALANCED' MANAGEMENT COMPANY GROWTH FUND The U.S. federal reserve and government announced a $700 billion bailout package for the financial industry which fueled further speculation regarding the scope of the problem. Estimates put the sub- prime direct loss around $3.5 trillion. Some of the major investment banks and commercial banks saw their businesses collapsing in this turmoil. The bail-out package announced by the U.S. was followed by a concerted effort in the form of interest rate cut by the central banks around the world. This global economic crisis has deeply impacted international investor's confidence resulting in lower allocations towards emerging markets including Pakistan. Pakistani financial system had no direct exposure in the U.S. sub-prime market. The indirect impact was felt by the local financial market which coupled with poor law and order situation in the country led to high inflationary pressure and weakening foreign reserves. This led to a flight of capital towards safety resulting in a weaker rupee against foreign currencies. Pakistan has initiated work on various options including assistance from international donor agencies and other liquidity pools including China and Middle-eastern states to spur growth in this global economic slow-down. We feel confident that the financial system in the country is strong and the GDP growth can be sustained if the law & order situation is managed at the earliest. This will restore international investment managers' confidence resulting in a stable asset allocation. Oil & Gas Power Gen. & Dist., Exploration,13.46% 2.47% The Board of Directors of the Management Company thanks the unit holders for their confidence in the Management, the Securities and Exchange Commission of Pakistan for its valuable support, assistance and guidance. The Board also thanks the employees of the Management Company and the Trustee for their dedication and hard work. Salman Haider Sheikh Chief Executive Officer INTERIM CONDENSED FAYSAL STATEMENT OF ASSETS BALANCED \ AND LIABILITIES GROWTH FUND SEPTEMBER 30, June 30, 2008 2008 Note Rupees Rupees (Un-Audited) (Audited) Bank balances 138,769,728 161,776,785 Dividend & other receivables 16,125,547 14,059,257 Investments 541,886,022 847,893,468 Payable to the Management Company 1,475,337 2,275,883 Remuneration payable to the Trustee 118,030 164,396 Accrued and other liabilities 916,803 1,716,617 2,510,210 4,156,896 694,271,087 1,019,572,614 For Faysal Asset Management Limited (Management Company) Salman Haider Sheikh F~; Syed Majid Ali Chief Executive Officer Director INTERIM CONDENSED FAYSAL BALANCED' INCOME STATEMENT GROWTH FUND Note September 30 September 30 2008 2007 Rupees Rupees Income Net capital (loss) / gain on sale of investments at fair value through profit or loss (63,129,766) 11,314,316 Profit earned on debt securities 5,255,270 10,579,258 Dividend income 4,035,318 3,358,508 Return on bank balances 6,520,462 3,994,149 Unrealised loss on investments at fair value through profit or loss 7.3 (138,210,170) (19,859,025) (185,528,886) 9,387,206 Element of income and capital gains included in prices of units sold less those in units redeemed 19,016,256 4,664,352 Total (loss) / Income (166,512,630) 14,051,558 Expenses Remuneration of the Management Company 8 5,086,846 6,136,451 Remuneration of the Trustee 9 406,861 524,786 Brokerage charges 910,785 1,258,603 Bank charges 6,267 10,483 Auditors' remuneration 92,179 75,617 SECP annual fee 203,474 272,731 Legal and professional charges 30,000 Fees and subsricptions 35,000 35,000 Settlement charges and capital value tax 108,675 213,671 Total Expenses 6,850,087 8,557,342 Net loss for the quarter before taxation (173,362,717) 5,494,216 Taxation 11 Net (loss) / income for the quarter after taxation (173,362,717) 5,494,216 (Loss) / Earnings per unit at the close of the quarter 12 (19.98) 0.51 For Faysal Asset Management Limited (Management Company) Salman Haider Sheikh Syed Majid Ali Chief Executive Officer Fi; Director FAYSAL INTERIM CONDENSED BALANCED \. DISTRIBUTION STATEMENT GROWTH FUNC SEPTEMBER 30 SEPTEMBER 30 2008 2007 Rupees Rupees Final bonus distribution for the year ended June 30,2008 @ RS.1.8 per unit (2007: @ RS.6 per unit) declared for distribution on
Load more

Recommended publications
  • 12. BANKING 12.1 Scheduled Banks Operating in Pakistan Pakistani Banks
    12. BANKING 12.1 Scheduled Banks Operating in Pakistan Pakistani Banks Public Sector Banks Nationalized Banks 1. First Women Bank Limited 2. National Bank of Pakistan Specialized Banks 1. Industrial Development Bank of Pakistan (IDBP) 2. Punjab Provincial Co-operative Bank Limited (PPCB) 3. Zarai Traqiati Bank Limited 4. SME Bank Ltd. Provincial Banks 1. The Bank of Khyber 2. The Bank of Punjab Private Domestic Banks Privatized Bank 1. Allied Bank of Pakistan Limited 2. Muslim Commercial Bank Limited 3. United Bank Limited 4. Habib Bank Ltd. Private Banks 1. Askari Commercial Bank Limited 2. Bank Al-Falah Ltd. 3. Bank Al-Habib Ltd. 4. Bolan Bank Ltd. 5. Faysal Bank Ltd. 6. KASB Bank Limited 7. Meezan Bank Ltd. 8. Metropolitan Bank Ltd 9. Prime Commercial Bank Ltd. 10. PICIC Commercial Bank Ltd. 11. Saudi-Pak Commercial Bank Limited 12. Soneri Bank Ltd. 13. Union Bank Ltd. Contd. 139 12.1 Scheduled Banks Operating in Pakistan Private Banks 14. Crescent Commercial Bank Ltd. 15. Dawood bank Ltd. 16. NDLC - IFIC Bank Ltd. Foreign Banks 1. ABN AMRO Bank NV 2. Al-Baraka Islamic Bank BSC 3. American Express Bank Ltd. 4. Citi Bank NA 5. Deutsche Bank AE 6. Habib Bank AG Zurich 7. Oman International Bank SAOG 8. Rupali Bank Ltd 9. Standard Chartered Bank Ltd. 10. The Bank of Tokyo-Mitsubishi Ltd. 11. The Hong Kong & Shanghai Banking Corporation Ltd. Source: SBP Note: Banks operating as on 30th June, 2004 140 12.2 State Bank of Pakistan - Assets of the Issue Department (Million Rupees) Last Day of June Particulars 2003 2004 2005 Total Assets 522,891.0 611,903.7 705,865.7 1.
    [Show full text]
  • MONEY and CREDIT HIGHLIGHTS Stock As on End June (Rs Million) Items / Years 2006 2007 A
    MONEY AND CREDIT HIGHLIGHTS Stock as on end June (Rs million) Items / Years 2006 2007 A. Components of Monetary Assets Currency in Circulation 740,390 840,181 Demand Deposits 1,085,665 2,643,778 Other Deposits 4,931 7,012 (M1)a 1,830,986 3,490,971 Time Deposits 1,380,418 366,872 Foreign Currency Deposits 195,501 207,312 Total Monetary Assets (M2)b 3,406,905 4,065,155 I. Public Sector Borrowing (Net) 833,686 926,530 - Budgetary Support 708,037 810,053 - Commodity Operation 107,762 98,552 - Effect of Zakat etc. (14,308) (14,269) - Privatization proceeds 37,657 37,657 II. Non-Government Sector 2,190,769 2,576,474 - Autonomous Bodies 36,979 58,148 - Private Sector (Net) 2,153,790 2,518,326 a. Private Sector 2,113,890 2,479,608 b. Public Sector Corporation 47,237 46,010 c. PSEs Special Accounts Debt (23,225) (23,478) Repayment with SBP d. Organization Institution 15,889 16,187 (SBP credit to NBFIs) III. Other Item (Net) (327,346) (422,223) IV. Domestic Credit 2,696,564 3,080,263 V. Foreign Assets (Net) 710,341 984,892 VI. Monetary Assets (M2)b 3,406,905 4,065,155 TABLE 5.1 COMPONENTS OF MONETARY ASSETS (Rs million) Stocks at end June (a) 2000 2001 2002 2003 2004 2005 2006 2007 (P) 1. Currency Issued 376,997 396,548 462,095 527,557 617,508 712,480 791,834 901,401 2. Currency held by SBP 1,851 1,905 1,865 2,565 2,960 3,107 3,005 3,148 3.
    [Show full text]
  • 0.30560 0.30570 Daily Treasury Market Commentary KUWAITI DINAR
    KUWAITI DINAR 0.30560 0.30570 Daily Treasury Market Commentary October 28, 2020 Foreign Exchange Developments: Economic Updates: The euro fell against the dollar on Wednesday following a New orders for key US-made capital goods increased Currency Price MTD % 3M% YTD% media report that France's government was leaning to six-year high in September, wrapping up a quarter EUR/USD 1.1779 0.51 0.55 5.07 toward reinstating a national lockdown to curb a of potentially record growth in business spending and GBP/USD 1.3043 0.98 0.87 -1.64 resurgence in coronavirus cases. the economy. AUD/USD 0.7145 -0.24 -0.18 1.75 The dollar, however, gave up early gains against other Britain must spell out how far it wants to diverge from USD/CHF 0.909 -1.28 -0.98 -6.09 major currencies as sentiment turned bearish due to European Union rules if it wants access to the bloc's USD/JPY 104.26 -1.16 -0.81 -4.25 uncertainty about the outcome of the U.S. presidential financial market from January, a top European USD/CAD 1.3191 -0.97 -1.39 1.57 election next week. The euro fell 0.14% to $1.1780 in Asia Commission official said on Tuesday. on Wednesday, down for a third consecutive session. Sterling held steady at $1.3035, supported by hopes for a Local & GCC news: last-minute trade deal between Britain and the European Kuwait's central bank announced on Tuesday it was Index Price Change MTD% YTD% Union.
    [Show full text]
  • Habibmetro Modaraba Management (AN(AN ISLAMICISLAMIC FINANCIALFINANCIAL INSTITUTION)INSTITUTION)
    A N N U A L R E P O R T 2017 1 HabibMetro Modaraba Management (AN(AN ISLAMICISLAMIC FINANCIALFINANCIAL INSTITUTION)INSTITUTION) 2 A N N U A L R E P O R T 2017 JOURNEY OF CONTINUOUS SUCCESS A long term partnership Over the years, First Habib Modaraba (FHM) has become the sound, strong and leading Modaraba within the Modaraba sector. Our stable financial performance and market positions of our businesses have placed us well to deliver sustainable growth and continuous return to our investors since inception. During successful business operation of more than 3 decades, FHM had undergone with various up and down and successfully countered with several economic & business challenges. Ever- changing requirement of business, product innovation and development were effectively managed and delivered at entire satisfaction of all stakeholders with steady growth on sound footing. Consistency in perfect sharing of profits among the certificate holders along with increase in certificate holders' equity has made FHM a sound and well performing Modaraba within the sector. Our long term success is built on a firm foundation of commitment. FHM's financial strength, risk management protocols, governance framework and performance aspirations are directly attributable to a discipline that regularly brings prosperity to our partners and gives strength to our business model which is based on true partnership. Conquering with the challenges of our operating landscape, we have successfully journeyed steadily and progressively, delivering consistent results. With the blessing of Allah (SWT), we are today the leading Modaraba within the Modaraba sector of Pakistan, demonstrating our strength, financial soundness and commitment in every aspect of our business.
    [Show full text]
  • Prospectus, Especially the Risk Factors Given at Para 4.11 of This Prospectus Before Making Any Investment Decision
    ADVICE FOR INVESTORS INVESTORS ARE STRONGLY ADVISED IN THEIR OWN INTEREST TO CAREFULLY READ THE CONTENTS OF THIS PROSPECTUS, ESPECIALLY THE RISK FACTORS GIVEN AT PARA 4.11 OF THIS PROSPECTUS BEFORE MAKING ANY INVESTMENT DECISION. SUBMISSION OF FALSE AND FICTITIOUS APPLICATIONS ARE PROHIBITED AND SUCH APPLICATIONS’ MONEY MAY BE FORFEITED UNDER SECTION 87(8) OF THE SECURITIES ACT, 2015. SONERI BANK LIMITED PROSPECTUS THE ISSUE SIZE OF FULLY PAID UP, RATED, LISTED, PERPETUAL, UNSECURED, SUBORDINATED, NON-CUMULATIVE AND CONTINGENT CONVERTIBLE DEBT INSTRUMENTS IN THE NATURE OF TERM FINANCE CERTIFICATES (“TFCS”) IS PKR 4,000 MILLION, OUT OF WHICH TFCS OF PKR 3,600 MILLION (90% OF ISSUE SIZE) ARE ISSUED TO THE PRE-IPO INVESTORS AND PKR 400 MILLION (10% OF ISSUE SIZE) ARE BEING OFFERED TO THE GENERAL PUBLIC BY WAY OF INITIAL PUBLIC OFFER THROUGH THIS PROSPECTUS RATE OF RETURN: PERPETUAL INSTRUMENT @ 6 MONTH KIBOR* (ASK SIDE) PLUS 2.00% P.A INSTRUMENT RATING: A (SINGLE A) BY THE PAKISTAN CREDIT RATING COMPANY LIMITED LONG TERM ENTITY RATING: “AA-” (DOUBLE A MINUS) SHORT TERM ENTITY RATING: “A1+” (A ONE PLUS) BY THE PAKISTAN CREDIT RATING AGENCY LIMITED AS PER PSX’S LISTING OF COMPANIES AND SECURITIES REGULATIONS, THE DRAFT PROSPECTUS WAS PLACED ON PSX’S WEBSITE, FOR SEEKING PUBLIC COMMENTS, FOR SEVEN (7) WORKING DAYS STARTING FROM OCTOBER 18, 2018 TO OCTOBER 26, 2018. NO COMMENTS HAVE BEEN RECEIVED ON THE DRAFT PROSPECTUS. DATE OF PUBLIC SUBSCRIPTION: FROM DECEMBER 5, 2018 TO DECEMBER 6, 2018 (FROM: 9:00 AM TO 5:00 PM) (BOTH DAYS INCLUSIVE) CONSULTANT TO THE ISSUE BANKERS TO THE ISSUE (RETAIL PORTION) Allied Bank Limited Askari Bank Limited Bank Alfalah Limited** Bank Al Habib Limited Faysal Bank Limited Habib Metropolitan Bank Limited JS Bank Limited MCB Bank Limited Silk Bank Limited Soneri Bank Limited United Bank Limited** **In order to facilitate investors, United Bank Limited (“UBL”) and Bank Alfalah Limited (“BAFL”) are providing the facility of electronic submission of application (e‐IPO) to their account holders.
    [Show full text]
  • IBOR Transition Faqs
    Sep 2021 IBOR Transition FAQs September 2021 About IBOR Transition This explanation and general risk warning is provided for customers of Al Ahli Bank Kuwait and each of its subsidiaries (collectively, “ABK”) who may have conventional products or agreements which uses the London Interbank Offered Rate ('LIBOR') or another inter-bank offered rate (together with LIBOR, the 'IBORs') as a benchmark rate. This explanation and general risk warning is provided for information purposes only and is subject to change. Where information in this explanation and general risk warning has been obtained from third party sources, we believe those sources to be reliable, but we do not guarantee the information’s accuracy, and you should note that it may be incomplete or condensed. Benchmark Reform LIBOR and other IBORs are currently the focus of international and national reforms. The UK Financial Conduct Authority (‘FCA’), which regulates LIBOR, has stated that it will no longer compel banks to submit rates for the calculation of LIBOR after the end of 2021. The US Federal Reserve and other regulators have also taken measures to move markets away from IBORs within set timelines. As a result, the continuation of LIBOR and other IBORs on their current basis cannot be guaranteed after 31 December 2021. These reforms may result in: (i) changes to the rules or methodologies used in calculating benchmark rates; (ii) restrictions on the use of benchmark rates; and/or (iii) discontinuance of benchmark rates. Even if certain benchmark rates might continue to be published, changes to their methodology, or restrictions on use, may mean that they are no longer representative of the underlying market and economic reality that the benchmark rate was originally intended measure or otherwise become no longer appropriate for products or agreements that customers have entered into with ABK.
    [Show full text]
  • CEE Qu 3-08.Qxd
    Analysis of the UniCredit Group CEE Research Network CEE Quarterly 03 2008 For authors see last page Imprint Disclaimer Published by UniCredit Group/Bank Austria Creditanstalt Aktiengesellschaft This document (the “Document”) has been prepared by UniCredito Italiano S.p.A. and its http://www.unicreditgroup.eu controlled companies1 (collectively the “UniCredit Group”). The Document is for information http://www.bankaustria.at purposes only and is not intended as (i) an offer, or solicitation of an offer, to sell or to buy any financial instrument and/or (ii) a professional advice in relation to any investment decision. Edited by CEE Research Department The Document is being distributed by electronic and ordinary mail to professional investors and [email protected] may not be redistributed, reproduced, disclosed or published in whole or in part. Information, Bernhard Sinhuber, Phone +43 (0)50505-41964 opinions, estimates and forecasts contained herein have been obtained from or are based upon sources believed by the UniCredit Group to be reliable but no representation or warranty, Produced by Bank Austria Identity & Communications Department, express or implied, is made and no responsibility, liability and/or indemnification obligation shall Editorial Desk ([email protected]), be borne by the UniCredit Group vis-à-vis any recipient of the present Document and/or any Phone +43 (0)50505-56141 third party as to the accuracy, completeness and/or correctness of any information contained in the Document. The UniCredit Group is involved in several businesses and transactions that may Printed by Holzhausen relate directly or indirectly to the content of the Document.
    [Show full text]
  • Islamic Banking Bulletin June 2013 Islamic
    Islamic Banking Bulletin June 2013 Islamic Banking Department State Bank of Pakistan Islamic Banking Bulletin Apr-June 2013 Table of Contents “Islamic Finance News” Roadshow Pakistan 3 Keynote Address by Yaseen Anwar , Governor State Bank of Pakistan Islamic Banking Industry – Progress and Market Share 6 Country Model: Kingdom of Saudi Arabia 12 Adoption of AAOIFI Shariah Standards: Case of Pakistan 14 Events and Developments at IBD 20 (Shariah Islamic Banking Standard News 8: Case and ofView Pakistan)s 20 Annexure I: Islamic Banking Branch Network 24 Annexure II: Province wise Break-up of Islamic Banking Branch Network 25 Annexure III: City wise Break-up of Islamic Banking Branch Network 26 2 Islamic Banking Bulletin Apr-June 2013 Islamic Finance News Pakistan Roadshow Keynote Address Mr. Yaseen Anwar, Governor, State Bank of Pakistan, LRC, State Bank of Pakistan, Karachi Aug 27, 2013. Thank You for inviting me to speak at today‟s event. I am honored to have this opportunity of addressing such a distinguished audience. My appreciation to the organizers for once again having assembled a strong list of speakers at this year‟s Islamic Finance News Road show and a warm welcome to the international delegates. With all of us gathered here at the central bank sends a strong signal about commitment and determination of the State Bank of Pakistan and the Government towards ensuring sustainable growth of Islamic finance industry in the country. As I look around I am optimistic that the collective experience of speakers will lead to rich debates that will not only help us in understanding the key issues but will also enable us to map out the future of the industry.
    [Show full text]
  • Bank Alfalah Limited SHELF PROSPECTUS for THE
    ADVICE FOR INVESTORS INVESTORS ARE STRONGLY ADVISED IN THEIR OWN INTEREST TO CAREFULLY READ THE CONTENTS OF THIS PROSPECTUS ESPECIALLY THE RISK FACTORS GIVEN AT PART 6 OF THIS PROSPECTUS BEFORE MAKING ANY INVESTMENT DECISION. SUBMISSION OF FALSE AND FICTITIOUS APPLICATIONS IS PROHIBITED AND SUCH APPLICANT’S MONEY MAY BE FORFEITED UNDER SECTION 87(8) OF THE SECURITIES ACT, 2015 Bank Alfalah Limited SHELF PROSPECTUS FOR THE ISSUANCE OF RATED, SECURED, LISTED, REDEEMABLE TERM FINANCE CERTIFICATES OF PKR 50,000 MILLION (Under shelf registration over a period of 3-years) Date and Place of Incorporation: Karachi, June 21st, 1992, Incorporation Number: 0027580, Registered and Corporate Office: B.A. Building, I.I Chundrigar Road, Karachi, Contact Person: Muhammad Zeeshan, Contact Number: +92 21 3312 2126, Website: https://www.bankalfalah.com/, Email: [email protected] Type of Issue and Total Approved Issue Size: The Issue consists of Rated, Secured, Listed, Redeemable Term Finance Certificates (TFCs) having a Total Approved Issue Size of up to PKR 50,000 million. Time Period of Shelf Registration: The TFCs shall be issued in multiple tranches over a period of three (3) years from the date of publication of this prospectus. Size of Current Tranche Series A: Issue Size of Current Tranche Series A is PKR 11,000 million (inclusive of Green Shoe Option of PKR 1,000 million), out of which TFCs of PKR 9,000 million (82% of Issue Size) have been issued to and subscribed by Pre-IPO investors and TFCs of PKR 2,000 million (18% of Issue Size), inclusive of a Green Shoe Option of PKR 1,000 million, are being offered to the general public by way of an Initial Public Offering through this Shelf Prospectus.
    [Show full text]
  • Pace (Pakistan) Limited
    PACE (PAKISTAN) LIMITED UNCONSOLIDATED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2020 Pace (Pakistan) Limited Company Information Board of Directors Shehryar Ali Taseer (Chairman) Non-Executive Aamna Taseer (CEO) Executive Shahbaz Ali Taseer Executive Shehrbano Taseer Non-Executive Mian Ehsan Ul Haq Non-Executive Kanwar Latafat Ali Khan Independent Shavez Ahmad Independent Chief Financial Officer Amir Hafeez Audit Committee Shavez Ahmad (Chairman) Mian Ehsan Ul Haq Kanwar Latfat Ali Khan Human Resource and Remuneration (HR&R) Committee Shavez Ahmad (Chairman) Aamna Taseer Kanwar Latafat Ali Khan Company Secretary Sajjad Ahmad Auditors KPMG Taseer Hadi & Co. Chartered Accountants Legal Advisers M/s. Imtiaz Siddiqui & Associates Bankers Allied Bank Limited Albaraka Bank (Pakistan) Limited Askari Bank Limited Bank Alfalah Limited Faysal Bank Limited Habib Bank Limited KASB Bank Limited MCB Bank Limited National Bank of Pakistan NIB Bank Limited Silkbank Limited Soneri Bank Limited Pair Investment Company Limited The Bank of Punjab United Bank Limited Registrar and Shares Transfer Office Corplink (Pvt.) Limited Wings Arcade, 1-K Commercial Model Town, Lahore Tele: + 92-42-5839182 Registered Office/Head Office 2nd Floor, Pace Shopping Mall Fortress Stadium, Lahore Cantt Lahore, Pakistan (042)-36623005/6/8 Fax: (042) 36623121, 36623122 DIRECTOR’S REPORT TO THE SHAREHOLDERS The Directors of Pace (Pakistan) Limited (“the Company”) take pleasure in presenting to its shareholders the Unconsolidated Interim Financial Statements of the Company for the quarter ended September 30, 2020. Operating Results: During period under review, the sales of the Company showed a decrease of Rs 51.85 million to come at Rs 89.57 million as compared to Rs.
    [Show full text]
  • A Case of Pakistan's Banking Sector
    Business Review Volume 9 Issue 2 July-December 2014 Article 3 7-1-2014 Wealth effect of mergers & acquisitions in emerging market: A case of Pakistan’s banking sector Sana Tauseef Institute of Business Administration Karachi, Pakistan Mohammad Nishat Institute of Business Administration Karachi, Pakistan Follow this and additional works at: https://ir.iba.edu.pk/businessreview Part of the Business Analytics Commons, Business and Corporate Communications Commons, Corporate Finance Commons, and the Finance and Financial Management Commons This work is licensed under a Creative Commons Attribution 4.0 International License. iRepository Citation Tauseef, S., & Nishat, M. (2014). Wealth effect of mergers & acquisitions in emerging market: A case of Pakistan’s banking sector. Business Review, 9(2), 24-39. Retrieved from https://ir.iba.edu.pk/ businessreview/vol9/iss2/3 This article is brought to you by iRepository for open access under the Creative Commons Attribution 4.0 License. For more information, please contact [email protected]. https://ir.iba.edu.pk/businessreview/vol9/iss2/3 Business Review – Volume 9 Number 2 July – December 2014 ARTICLE WEALTH EFFECT OF MERGERS & ACQUISITIONS IN EMERGING MARKET: A CASE OF PAKISTAN’S BANKING SECTOR Sana Tauseef, Institute of Business Administration Karachi, Pakistan Mohammad Nishat, Institute of Business Administration Karachi, Pakistan Abstract This study investigates the short-term market response associated with the announcement of seven merger and acquisition deals in the banking sector of Pakistan during the period 2003 to 2008 using the event study methodology. The results indicate statistically significant investor reactions around the merger announcements. For individual target and bidder banks, the cumulative abnormal returns (CARs) range from significant positive to significant negative.
    [Show full text]
  • Frequently Asked Questions FAQ's What Type of Facility Is Ready Line?
    SILKBANK READY LINE – Frequently Asked Questions FAQ’s What type of facility is Ready Line? It is a running finance facility. Mark-up is charged only on the utilized amount and for the number of days the loan amount is utilized. What is the tenor of the loan? Loan is extended for one year however the line is reviewed on yearly basis subject to the terms and conditions of the bank. What is the maximum loan amount that I can get? You can get any loan amount ranging from Rs. 50,000 to Rs. 2 million depending on your income level. How the pricing of this facility is determined? Pricing on Ready Line is variable and linked 1 year KIBOR. The mark-up rate is composed of 1 year KIBOR and a pre-defined spread. What is processing fee of Silkbank Ready Line? Processing fee is Rs 3,000 plus 16% FED. The Processing Fee can be reversed if the customer utilizes Rs. 20,000/- within 60 days from the date of disbursement. However, if you apply between 22nd April 2017 and 31st May (both dates inclusive), processing fee will be automatically reversed before payment due date. What is annual fee of Silkbank Ready Line? Annual fee is Rs 3,000 plus 16% FED and is not reversible. Where do I have to pay my monthly dues? You will submit your dues in your designated Re-payment account opened with Silkbank. Kindly do not submit payment in your Line Account to avoid confusion and imposition of Late Payment Charges (LPC).
    [Show full text]