Karachi(Cliff News)Lucky Cement Limited reported net profit of PKR 13.69 billion for the fiscal year ended June 30, 2017 which is 5.8% higher as compared to last year. Consequently, the earnings per share (EPS) for the fiscal year increased to PKR 42.34 compared to PKR 40.03 reported during last year. The Company declared final dividend of PKR 12/- per share for the fiscal year ended June 30, 2017.The Company’s net sales revenue increased by 1.2% to PKR 45.69 billion compared to PKR 45.14 billion reported last year. The increase in net sales revenue was mainly attributable to increase in sales volumes.The local sales volume of the Company during the fiscal year registered a growth of 13.9% to 6.07 million tons compared to 5.33 million tons reported last year, whereas export sales volume registered a decline of 32.7% to 1.08 million tons compared to 1.61 million tons reported last year.On a consolidated basis, Lucky Cement reported net profit of PKR 16.22 billion for the fiscal year ended June 30, 2017 which is 9.1% higher as compared to last year. Consequently, consolidated EPS during the year increased to PKR 50.18 compared to PKR 45.99 reported last year.Lucky Cement also reported progress on its key local and international projects i.e. brown field expansion (installation of new production line) at Karachi Plant, fully integrated green field Cement Manufacturing Plant in Punjab province, investment in automobile Manufacturing plant under license from KIA Motors Corporation, brown field expansion in Cement Grinding unit in Republic of Iraq, 1 X 660 MW, supercritical coal based power project at Port Qasim.Lucky Cement remains committed toward value-creation for the society in which it operates. In this regard, the Company extended numerous scholarships to deserving students for various leading universities in Pakistan. Under the domain of empowering women in the country, Lucky Cement continued its support for two leading Government girls’ schools in Karachi in collaboration with Zindagi Trust.
Karachi(Cliff News)In keeping with international trends, ‘Back to school’ event was initiated at LuckyOne mall from the 28th of July, and will continue for three consecutive days till the 30th of July 2017. An exciting educational activity that happens all around the world, it was held for the first time here at LuckyOne.
In addition to this, 30th July was filled with laughter and bonding of beautiful relationships at LuckyOne mall. National Father-in-law day and international Friendship day were other two events celebrated. National father in law day is observed annually on July 30. This day is dedicated to your spouse’s father and is celebrated in honor to all father in laws.Interactive activities were organized by participating brands that included Bachaa Party, Morinaga, Sefam (Leisure Club, Minnie Minors, Super Squad, Rangja, Chenyre), and Oreo. The activities comprised fun games and entertaining engagements for kids.Mall Events Manager, Mr. Shahzad Anwar said that these events bring more and more customers in the mall and also customers feel delighted while visiting the mall. He also said that “LuckyOne Mall” is going to celebrate more and more exciting events for the customers. He thanked all the customers who came and participate in Back to School event.
Bloggers were invited along with the general public. Visitors took pictures in front of the media wall using different props to make selfies more interesting. Amazing 3D artwork was displayed in the activity area and fun engaging competitions were held. Visitors also won several giveaways comprising school supplies and discount vouchers for shopping at LuckyOne to make the event memorable.
A comment wall was put up where everyone expressed in words, the love for their friends. An interesting session with Saad Haroon on ‘Back to school’ was also held.The PR of the event was done by STARLINKS PR and Events.
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#luckybacktoschool #back2school2017 #back2schoolpk
Karachi(Cliff News)In line with its vision of setting the highest standards of professionalism in the local aviation industry, the first batch of commercial pilots graduated from Shaheen Air Flying Training School (SAFTS) in a ceremony held in Faisalabad. The first batch comprises of 13 aviation professionals who have completed the first Commercial Pilot License Course (CPL-I) at the facility.A graduation ceremony was held to commemorate the occasion and honor the faculty and students who have worked tirelessly to achieve this feat. Along with the Shaheen Air International Limited’s, Chairman Mr. Kashif Sehbai – other senior officials heaped praise and commendation on the graduates and welcomed them to the Shaheen Air family. 13 graduates obtained the PCCA approved CPL/IR license.While spreading vigor amongst the graduates, Kashif Sehbai, Chairman, Shaheen Air International, said: “I am proud of every individual who is passing out from our training school to serve in the Pakistan Aviation industry. The entire Shaheen Air family welcomes you, and believes that you will discharge your duties with integrity and passion. I also wish to congratulate the faculty for their utmost support in making this a great success. SAFTS is one of the leading training schools in Pakistan where we enable passionate individuals to achieve their dreams and soar high in the sky.”Since its establishment in 1993, for the past twenty four years the carrier has significantly contributed towards providing skilled aviation professionals to the aviation industry. Currently, the academy trains pilots and it endeavors to enhance its capacity in the upcoming years.
Shaheen Air International Limited (SAI) is established as a public limited company under the Companies Ordinance, 1984. It is mandated to perform the business of air transportation of passengers and cargo. Shaheen Air commenced its operations as the first private airline in Pakistan in December, 1993. It operates on various domestic and international routes and in 2015, it became the only private airline from Pakistan to fly east with non-stop flights from Lahore to Guangzhou, China.
Karachi(Cliff News)Dawlance, Pakistan’s no.1 home appliances brand, unveiled its LVS Plus refrigerators and proActive inverter air conditioner series, which aim to cut down on energy usage for a better, more prosperous Pakistan. In recent times, Dawlance has prioritized provision of relief to consumers battling rising energy costs, especially during sweltering summers by introducing home appliances, which conserve energy, reduce electricity bills and work on low and fluctuating voltages.In case of the proActive inverter air conditioners series, the electricity cost-savings can accumulate to PKR 26,000 per annum, while the LVS Plus refrigerators can reduce electricity bills by 23% and give superior performance on low voltages.Dawlance’s Head of Marketing, Hasan Jamil, explaining the brand’s intent behind the launch of the two products, said, “The frequent power breakdowns have burdened Pakistan’s economy while rising costs are a cause of concern in every household. Being a responsible Pakistani brand, we wanted to be part of the solution. Hence, the creative spark for our LVS Plus refrigerators and proActive inverter air conditioners series stemmed from the desire to lower costs for consumers, and to serve the community by conserving energy while inspiring others to do the same.”“Our products feature modern designs, while simultaneously being equipped with impressive technical features. Both the air conditioner and refrigerator series feature unique designs, capable of sustaining low voltages down to 155 volts and 135 volts respectively. Therefore, these unique products do not need a stabilizer to protect themselves from voltage fluctuations and can also run on generators.”For now, the proActive inverter air conditioners series have a standard weight of 1.5 tones and are available in three vibrant colors. The LVS Plus refrigerators come in an elegant color with two different sizes to suit families of four to eight people.
Dawlance, the market leading home appliances brand of Pakistan, was established in 1980 with the vision of making Dawlance a Global brand by practicing reliability and to make Pakistan Proud. Since 2016, Dawlance has been a part of Arçelik A.Ş., the leading global consumer durables company.Dawlance serves its consumers in 3 functions involving Food Care, Fabric Care and Home Care with its wide range of appliances including refrigerators, freezers, micro-wave ovens, small kitchen appliances, washing machines and air conditioners.
Dawlance has large manufacturing capabilities owing to its 3 factories , it has the largest service centre and dealer network in Pakistan; Dawlance’s vast service network in Pakistan displays its ability to reachconsumers in every corner of the country and is one of the prime reasons for the brand’s success.Dawlance promises reliability in every way for its consumers and stakeholders alike; Reliability is the key characteristic of Dawlance and is exercised within all functions of the company; it is in fact embedded in the organization’s culture. Aside from its reliability, Dawlance’s major strengths are differentiation and relevance- it makes products that are relevant to the needs of the Pakistani households but with an element of differentiation; Dawlance takes pride in introducing innovative products for the Pakistani market to enhance the lifestyle of its consumers and deliver a superior product experience
Karachi(Cliff News)Sindh Inter Divisional Wushu Kung Fu Championship, 2017, organized by Sindh Wushu Kung Fu Association (Affiliated body of Sindh Sports Board, Sindh Olympic Association & Pakistan Wushu Federation) with the cooperation of Karachi City Wushu Kung Fu Association, held at 23rd of July in International Zulfi Shaolin Wushu Kung Fu Tai Chi Yoga & Fitness Academy Landhi Branch. The 200 Wushu players from interior Sindh, Hyderabad, Nawab Shah, Jamshoro, Kotri, Ghotki, Rohri, Larkana, & Sukkur participated above championship. Wushu Players participated & defended their titles in 8 weight categories in San Shou (fight) & 5 Tao Lou events.According to the Final Results: Karachi 1st position with 6 Gold, 3 Silver, 6 Bronzes, Nawab Shah 2nd Position with 3 Gold, 1 Silver, 3 Bronze, Sukkur 3rd Position with 2 Gold, 1 Silver, 2 Bronzes, Hyderabad 4th Position with 1 Gold, 1 Silver.Chief Organizer was Dr. Zulfiqar Ali (President Sindh Wushu Kung Fu Association) & the organizing secretary was Arif Shah chief instructor Arif International Academy of Zulfi Shaolin Wushu Landhi branch. Technical Officials: Faisal Shah, Irfan, Waqas, Sadiq, Arif Shah, Noor Ahmed. Asghar, Meezan Meezli.Chief Guest Mr. Ahmed Ali Rajput (Sec. SOA), & Azam Khan distribute the medals & certificates among the winners & officials.In the ending ceremony President SWUA Dr. Zulfiqar announce that Sindh Sports Board Greatest Wushu Kung Fu Cup 2017 will be held in Karachi in September with the cooperation of SSB & SOA.Grandmaster Dr. Zulfiqar Ali (President Sindh Wushu Kung Fu Association)
International Certified, Expert Trainer.Shaolin Kung Fu (Certified Shaolin Temple Song Shan China)Yoga, Chi Kung, Tai Chi, Meditation (Certified from China, India, Thailand)Martial Arts MAA, Kick Boxing, Grappling, Aikido, (Certified from Japan, USA)Cardio, Aerobic, Zumba, Cross Fitness, Rapid Training, (Certified from USA, China, UK, Vietnam)
Karachi(Cliff News)Saquib Fayyaz Magoon, Vice President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) has urged the Federal Finance Minister Senator Muhammad Ishaq Dar and Hassan Iqbal, Secretary of Ministry of Textile Industry (MOTI) to bring down the present tariff rates on gas and power in Pakistan at par with the regional competitors to make Pakistan’s export competitive in global market as at present Pakistan’s cost of production is Rs. 3/unit higher than its competitors. This was stated by Saquib Fayyaz Magoon while chairing a meeting with Hassan Iqbal, Secretary of Ministry of Textile Industry (MOTI) at FPCCI Head Office, Karachi.The FPCCI Vice President elaborated that the textile industry is burdened with Rs. 3.63 / KWH surcharge on electricity and GIDC on gas which could not be passed on to the international buyers.The Vice President of FPCCI pointed out that the Rs. 180 billion package as announced by the Prime Minister in January 2017 was a non-starter as it had restricted its fiscal / monetary incentives to only those exporters who would show a 10% increase in their export revenue w.e.f 1st July, 2017 as compared to last year. “However, under the present scenario of a long outstanding – Sales Tax-Refund culture, there is a little likelihood of a 10% increase in export as exporters are compelled to borrow to meet their liquidity requirement which in-turn adds to their input cost”, he added.Saquib Fayyaz Magoon showed concern on allowing rebate to export of yarn which is a basic raw material for weaving industry. He proposed, “Like textile machinery, its spare parts should also be allowed at zero rate as these are ultimately sold to the textile industry”.Waseem Vohra, Former Vice President of FPCCI endorsing the views as expressed by Saquib Fayyaz Magoon regarding high cost of production elaborated that gas tariff in India was US $ 4.5/unit; Vietnam US $ 4.20 / unit; Bangladesh $ 3.10/unit as against $ 7.65/unit in Pakistan. Similarly, he continued, “Taxes on exports in Bangladesh Is levied @ 0.25% whereas in Pakistan @ 1% which after including indirect taxes and other levies comes to 11% of cost of exports. He reiterated that higher cost of production in Pakistan is one of the main cause of export slide”.Hassan Iqbal, Secretary of Ministry of Textile Industry (MOTI) in response to a query replied in detail that Plastic Technology Center (PTC) Karachi as per Federal Cabinet decision would be affiliated with the National Textile University (NTU), Faisalabad and made its sub-campus under the administrative control of MOTI with the financial help of Higher Education Commission (HEC), Ministry of Finance (MOF) and Ministry of Commerce (EDF). “It will be a State-of-Art Centre which will be run under the guidance and in close coordination and cooperation of the Pakistan Plastic Manufacturers’ Association (PPMA)”, he added.The meeting, inter-alia, was also attended by Imran Ghani, Chairman, PPMA
Karachi(Cliff News)6th Essa Open National Junior and Senior Tennis Championship starts from 5 August 2017.Muhammad Khalid Rehmani gave the detail of this Prestigious Tournament which are as followed.Events. Junior 18 Singles and Doubles 16 & under Singles, 14& Under Single, 12 & Under Single, 10& under Single, Girls 18 & under Single, Seniors 35 plus Singles,, Senior 50 plus Singles, Senior 45 plus Doubles.Travelling and Dailies Allowances as per PTF Rules.Prize Money Rs. 1,00,000/- only for Junior Events (PTF Grade One Event).Last date of entry 3rd August.The Organizing Committee comprises on Khawaja Saeed Hai, President, Gulzar Firoz, Altaf Hussain, Vice President, Muhammad Khalid Rehmani, Referee & Tournament director, Sarwar Hussain Media Coordinator, Farha Riaz, Ishrat Zehra, Members.
Karach(Cliff News)The Board of Directors of Meezan Bank in its meeting, held at Karachi on July 26, 2017 approved the unconsolidated financial statements of the Bank and its consolidated financial statements for the half year ended June 30, 2017. The meeting was presided by Mr. Riyadh S.A. A. Edrees – Chairman of the Board, Mr. Faisal A. A. A. Al – Nassar – Vice Chairman of the Board also attended the meeting.The Board has decided to increase the paid up capital of the Bank by approving a 6% Rights Issue of shares at a price of Rs 50 per share inclusive of Rs 40 as premium per share. This increase will support the Bank’s growth plan and Capital Adequacy Ratio. The Right Shares offered will rank pari passu in all respect with the existing ordinary shares of the Bank.The Board of Directors has also approved an interim cash dividend of Rs 1.75 per share (i.e. 17.5%) for 2017 maintaining the Bank’s unbroken payout record since its listing on the Stock Exchange in the year 2000.Meezan Bank has continued its growth momentum and recorded good results for the half year ended June 30, 2017. Profit before tax increased to Rs 5,408 million from Rs 4,433 million in corresponding period last year reflecting a growth of 22%, while profit after tax increased by 18% in the same period due to extended applicability of Super Tax. The Earnings per Share (EPS) of the Bank stood at Rs 3.15 for the half year ended on June 30, 2017. The Bank maintained its position as the leading Islamic bank in Pakistan with a branch network of 571 branches in 146 cities.Total deposits of the Bank reached Rs 593 billion, registering a 5% growth over last year and its Advances to Deposits Ratio was 57% compared to 45% in June 2016. The trade business volume handled by the Bank grew by 36% to Rs 327 billion while Fee and Commission income grew by 63% over the corresponding period last year.The JCR-VIS Credit Rating Company Limited, an affiliate of Japan Credit Rating Agency, Japan has reaffirmed the Bank’s long-term entity rating of AA (Double A) and short-term rating at A1+ (A One Plus) with stable outlook. The short-term rating of A1+ is the highest standard in short-term rating. The rating indicates sound performance indicators of the Bank.