AHCL wins Best Corporate Report Award
Arif Habib Corporation Limited (AHCL) was awarded the first position in the Non-Bank Financial Institutions (NBFIs) category at the Best Corporate Report Awards 2012 organized by the joint committee of the Institute of Chartered Accountants of Pakistan (ICAP) and the Institute of Cost and Management Accountants of Pakistan (ICMAP) on Thursday, August 22, 2013.
AHCL has also been nominated in the Financial Services and the Corporate Governance Disclosures categories for the SAFA Awards 2012.
Best corporate report awards were given in the categories of banking, chemicals, sugar and cement, engineering, fuel and energy, non-banking financial institutions, textiles, non-government organisations (NGOs) and miscellaneous to recognize excellence in corporate and sustainability reporting.
KPC, Arif Habib Group sign MoU on health, education
The Karachi Press Club has set up a Rs 1.5 million fund for provision of health and professional education facilities to its members and their children. In this regard, a memorandum of understanding (MoU) was signed between KPC and Arif Habib Group here on Tuesday. Vice President Karachi Press Club, Saeed Sarbazi on behalf of KPC and Nasim Beg on behalf of Arif Habib Group signed the MoU.
MCB-Arif Habib Savings and Investments Limited
We are delighted to inform you that the Securities & Exchange Commission of Pakistan Limited has formally affirmed the merger of MCB Asset Management Company with Arif Habib Investments Limited that took place on June 27, 2011 and approved change in name. The merged entity will now be called “MCB-Arif Habib Savings and Investments Limited”.
Despite the legal hitches on the way, we managed to effectively synergize our strengths with the support of MCB Bank Ltd and Arif Habib Corp. to move forward as a cohesive team and retained our position among the top Asset Management Companies of the industry (rated ‘AM2’ by PACRA). We are a listed company with net worth over Rs. 1.27 billion. On the eve of our merger in 2011, the combined assets under management of both the companies were around Rs. 29 billion which now stand at over Rs. 38 billion representing 31% absolute growth. Over the two years since our merger, we have added over 7,500 new accounts (individuals & corporate entities) to our customer base (bringing it to over 53,000 accounts) in different schemes and have invested in new technology to enhance our efficiency. One of our key strengths is our diverse retail base which is now the largest in the private sector.
All this has been achieved through dauntless team effort and of course, trust & confidence of our sponsors and clients. We take this opportunity to thank you for your enduring faith and support which helped us move forward. Revitalized with that confidence, we strive harder to serve our investors and strengthen our bond with product partners in a much better way in the time to come.
Arif Habib features among world's best performing equity funds
KARACHI: It is quite a big deal for an asset management company (AMC) to have one of its funds ranked among the country‚Äôs top performing equity funds. Having one‚Äôs fund rated as one of the best performing equity funds worldwide is an even bigger achievement.
But no feat could possibly be more astonishing for a Pakistani AMC to have as many as three of its funds included in the list of 100 best performing equity funds of the world in a single year. Arif Habib Investments ‚Äì a subsidiary of MCB Bank ‚Äì did all of the above in 2012.
Domestic producers should receive import protection linked to Government-ordained benchmarks, CEO, Aisha Steel
Kashif Shah: Aisha Steel Mills was incorporated in 2005 as a joint venture between premier Pakistani and Japanese Groups of Companies. MetalOne Corporation is owned by Japan’s Mitsubishi Group. MetalOne is the largest integrated steel trading company of the world. It is one of three partners in the JV. The second party in this venture is Universal Metal Trading Corporation, which is a steel trading company.
Arif Habib Group is the local partner in Aisha Steel Mills. The business model is import substitution. For this consideration, the location of the facility has been selected very carefully. It is our resolve to pursue import substitution across all grades of cold rolled coil (CRC) of steel.
Pakistan, Land of Entrepreneurs
On a warm Sunday morning in November, Arif Habib leaves his posh home near the seafront in southern Karachi and drives across town in a silver Toyota Prado SUV. About half an hour later, he arrives to check up on his latest project: a 2,100-acre residential development at the northern tip of this city of 20 million. He hops out, shakes hands with young company call-center workers who are dressed for a cricket match, and joins them at the edge of the playing field for a traditional Pakistani breakfast of curried chickpeas and semolina pudding. After a quick tour of the construction site, he straps on his leg pads, grabs his bat, and heads onto the field. “The principles of cricket are very effective in business,‚Äù says Habib, 59. ‚ÄúThe goal is to stay at the wicket, hit the right balls, leave the balls that don‚Äôt quite work, and keep an eye on the scoreboard. I feel that my childhood association with cricket has contributed to my success.”
Cement manufacturer: Timely investments bring Al-Abbas back to profitability
It is one of the smallest cement manufacturers in the country, but Al-Abbas Cement is determined to become one of Pakistan‚Äôs most efficient, investing in new machinery and increasing its capacity utilisation to well-above the market average, a strategy that is already beginning to pay off for the company.
At 900,000 tons, the installed annual production capacity of Al-Abbas Cement is a tiny fraction of the nearly 45-million-ton installed capacity of the cement industry as a whole, according to the All Pakistan Cement Manufacturers Association, a lobbying group. Yet the company appears to be determined to make the best of its capacity utilisation.
Offer for Sales of Aisha Steel Mills Limited
Aisha Steel Mills Limited will start its production in june 2012. The subscription for offer for sales of 10 million shares at Rs. 10/- will be on 3rd and 4th July 2012 during banking hours. The company, a joint-venture between Pakistan’s Arif Habib Group and Japan’s Metal One Corp. and Universal Metal Corp., set up the plant at Port Qasim, Karachi, at the cost of USD120mn.
Fertilizer or bomb? Fatima Group says its product within accepted standards
The sole manufacturer of ammonium nitrate in Pakistan is cooperating with the US in taking measures to control its smuggling to Afghanistan where they admit, militants might be using it to make bombs. Fatima Group, which owns two companies producing the fertilizer, calcium ammonium nitrate (CAN), has been in talks with the US administration for the past couple of months, said chairman Arif Habib. (TRIBUNE) (16th December 2011)
Four urea plants face closure:
Fertilizer plants on the SNGPL network were facing huge losses due to non-availability of gas. Dawood Hercules has suffered by a production loss of over 50%, Pak Arab by 25%, Agritech by 62%, while Engro by 60%. Both Dawood Hercules and Engro are completely shut down due to gas supply being denied, while the other two plants are coping with less production capacity. (DAWN) (16th December 2011)
Fatima Fertilizer added to global stock index:
Fatima Fertilizer has joined the ranks of other top local companies as it has been added to Morgan Stanley Capital International (MSCI) Pakistan Index and MSCI Frontier Index from November 30. (TRIBUNE) (17th November 2011)
Future of Pakistan lies with youngsters: Arif Habib
Future of Pakistan lies in the youngsters, which direly needed proper education and skill development training to meet the global challenges, says chairman Arif Habib Investment and a leading businessman.
He was speaking as chief guest at the inaugural ceremony of Youth Leadership Programme-2011 (YLDP), being organized under the aegis of All Pakistan Memon Foundation-Educational Board (APMF-EB).
Habib laid emphasis on the need of education, saying no nation could run on the track of development with fast pace unless its education system meet the modern requirements. It is an excellent opportunity to interact with youth with diverse academic and social background, Arif said, adding participants should contribute in sessions with fervor and zeal. (June 20, 2011)