APR

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Archive for the ‘Press Releases’ Category

Jubilee Life Insurance declares 25% interim cash dividend

Thursday, September 5th, 2013

KARACHI, September 05 2013: Jubilee Life Insurance Company Limited announced impressive financial results for the first half of 2013, declaring an interim cash dividend of 25% (Rs 2.50 per share).
Company reported a pre-tax profit of Rs 587 million, up 67% from Rs 351 million for the corresponding half of last year. With after-tax profit of Rs 397 million, the earnings per share (EPS) increased to Rs 6.33 per share.

By registering 42% increase in premium income over the same period of last year, Jubilee Life has further strengthened its position as the private sector market leader in terms of gross written premium.
Commenting on the financial results, Mr. Javed Ahmed, Managing Director & CEO Jubilee Life said, “Our results are a clear indication that while providing best possible products and services to our customers, we are also equally enthusiastic about increasing shareholders’ value. We will continue to follow a strategy of high growth in topline with sustainable profitability.”

He also added that life insurance penetration continues to be very low in Pakistan, which presents a huge opportunity for Jubilee Life and other players. By aggressively growing our business we are also playing an important part in inculcating a savings culture within the country. He appreciated the role of the insurance regulator (SECP) for providing an enabling environment which remains conducive to business growth.

Jubilee Insurance is a global brand of Aga Khan Fund for Economic Development (AKFED) that offers diverse insurance solutions (life, health and general) in the Asian and East African markets. Jubilee Life in Pakistan offers uniquely designed range of life and health insurance plans, catering to various customer segments and needs. These include retirement, child education, marriage, saving & protection, wealth accumulation, life insurance plans for women, rural insurance plans and life and health insurance solutions for the less privileged of our country.

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Buksh Energy launches Solar Water Filtration Plant in Rural Sahiwal

Thursday, September 12th, 2013

Karachi, September 12, 2013: Buksh Energy installed its first solar water filtration plant in Chak 115 – Sahiwal District. The installation is part of the initiative Buksh Energy has taken with its sister company, Buksh Foundation, one of many ways in which the two organizations work to support and uplift the rural communities of Pakistan. Together, they founded the Lighting a Million Lives (LAML) project, which collaborates with local multilateral corporations to sponsor the conversion of villages in rural Punjab, which suffer from severe load shedding or are not connected to the grid at all, to solar power. Having received recognition for their exemplary social contributions both locally and internationally, Buksh Energy is, with this latest project, building on the existing base in the alternative energy sector and ushering it into another aspect of village life in Pakistan which requires much attention and improvement: the dearth of clean water.

Buksh-Foundation-Filteration-Plant

These solar water filtration plants function based on the principle of reverse osmosis, providing sanitary and hygienic water in areas with a low water table. A single plant will supply unpolluted water for drinking, cleaning, cooking and irrigation to 100 – 150 households. The filtration plant installed in Sahiwal is only 240W, but for the people of Chak 115, it is plenty. Since the plant is not excessively large, it will not require any alternate source of energy, such as a generator or electricity from the grid. Its water delivery is of 700 – 900 liters per hour and has the capacity to store up to 6,000 liters of water.

The solar water filtration plant in Sahiwal was made operational in the presence of the local people of the district. Buksh Energy’s Chief Executive Officer, Mr. Asim Buksh, also visited the site to show his support for the people of Sahiwal and discuss the magnitude of the changes it would bring to their lives.
While speaking to the district locals, Mr. Buksh said, “I am immensely proud to announce that this is the first of many solar water filtration plants that Buksh Energy is installing in rural Punjab. Not only will the people of the community be able to access clean water, but they will also have opportunities for employment and an increased disposable income due to the fact that they will no longer have to spend a large portion of it on getting water.

These plants will benefit hundreds of individuals and households, providing them with uncontaminated water, greatly reducing the risk of water borne diseases such as cholera, typhoid, diarrhea, intestinal worms and hepatitis. Furthermore, now that the residents of Chak 115 have access to clean water, there will be fewer still births and a reduction in infant mortality rates in rural areas. They will also have access to water for their irrigation as needed, as the plant will be running on solar and will not depend on alternate sources.

Speaking on the successful launch of the Solar Water Filtration Plant, Ms. Fiza Farhan, CEO Buksh Foundation stated: “It is quite an emotionally fulfilling experience for the entire team of Buksh Foundation & Buksh Energy to see the realization of our mutual vision of “Impact Investment” first with the success and scale achieved by Lighting a Million Lives project that has helped provide solar electricity & mobile charging facility to more than 75 villages in 12 districts of the country and now with what will be a largely scalable & sustainable socio-economic development model i.e. Drop of Sun- which aims to set up similar Solar Water Filtration Plants in the 4,000 Villages we will be providing electricity to under LAML.”

Both organizations are working across Pakistan with a diverse set of donors & partners to improve the quality of lives for the rural communities of the country, making them self-reliant in getting access to sustainable energy and clean water, helping them have a healthier, safer lifestyle.

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EMULATOR APP BRINGS THE BEST OF LG G2 TO ANY ANDROID SMARTPHONE

Thursday, September 12th, 2013

Consumers Can Experience the Compelling UX Features of LG’s Latest Flagship Device

Karachi / SEOUL, Sep. 12, 2013 — LG Electronics (LG) is giving consumers the opportunity to experience the best features of its newest premium smartphone. By downloading and installing the G2 Emulator on any Android mobile device, interested individuals can try out the six best user experience (UX) features offered on the LG G2, the company’s latest flagship smartphone.

“We wanted consumers to experience the features of LG G2 before making a decision if the device is right for them,” said Jong-hoon Kim, senior vice president, LG Electronics Mobile Communications Company. “We’ve moved beyond the stage of evaluating smartphones just by hardware specs alone. It’s now all about the user experience and it just made sense to use technology to demonstrate technology.”

The G2 Emulator provides simulations to show users how to operate each major UX feature. Through an easy step-by-step tutorial, users can find out the practical benefits that the LG G2 provides. The features demonstrated in the application include:

  • KnockON turns the screen on and off with two taps;
  • Guest Mode protects the owner’s privacy by displaying only pre-selected apps when guests access the phone via a secondary unlock pattern;
  • Capture Plus allows the saving of an entire page in one image, even if the page scrolls outside the visible screen;
  • Slide Aside allows for multitasking by moving open apps to the side with a three-finger swipe;
  • QuickMemo instantly captures any screen image to add comments and messages or to share the personalized message with others;
  • Clip Tray copies, stores and pastes up to 20 items, such as full web pages, to a PC-like clip tray.
  • The G2 Emulator is available for all Android smartphones at the LG Mobile website (www.lg.com/global/g2) or Google Play.

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Byco Revenue Continues to Increase

Thursday, September 26th, 2013

Posts Gross Profit of Rs344 million

KARACHI, September 26, 2013: Byco Petroleum Pakistan Limited (BYCO) announced a substantial increase in net sales of 281% over the same period last year reflecting the reliability and robustness of its core refining and marketing business. Net sales of Rs. 44,454 million reflect the nine-month period ending March 31, 2013as compared to the net sales of Rs. 11,662 million in the corresponding period last year. Byco Petroleum Pakistan Limited was able to achieve the numbers by virtue of efficient utilization of resources which resulted in significant reduction in variable operating expenses. Operating losses were reduced by more than 90% through the execution of streamlined process resulting in efficient production of product and enhanced utilization of available resources.

Highlighting the numbers released, Mr. Asad Azhar Siddiqi, Chief Financial Officer, Byco Petroleum Pakistan Limited said, “Byco Petroleum Pakistan Limited has witnessed significantly challenging times in the last few years primarily due to the 2008 financial crisis. However, with the completion of the Group’s related mega projects this year, there will be significant value addition for Byco Petroleum Pakistan Limited. The management will ensure that this momentum is maintained whilst at the same time focusing on operational excellence, cost management and bottom-line growth.”

During the period mentioned, BycoPetroleum Pakistan Limited processed 4,191,120 barrels of crude oil. The Company successfully negotiated re-profiling of its existing banking exposure (in the form of the LC, Running Finance facility and Short Term Finance facility) into a Term Finance facility-1 of Rs.17.379 billion with tenure of 7.5 years. Byco Petroleum Pakistan Limited financial charges have reduced by 6%, due to the successful downward renegotiation of markup rates. The result is good news for investors.

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LG delivers over one million Door-in-door™ refrigerators worldwide

Monday, September 23rd, 2013

LG’s Innovative Double Layered Refrigerator Increases Convenience, Saves Electricity

SEOUL/ Karachi, Sep. 23, 2013— LG Electronics (LG)announced that it has sold over-one million Door-in-Door™refrigerators worldwide since its introduction in 2010, a significant achievement in the home appliance industry. The company’s innovative double layered Door-in-Door™feature enhances consumer convenience, providing quick access to frequently used items while also helping to prevent cold air from escaping the main refrigerator compartment.

“Today’s busy consumers need appliances that help to make their lives easier and more convenient,” said Seong-jin Jo, president and CEO of LG’s Home Appliance Company. “With a strong commitment to excellence and technological innovation, we will continue to bring home appliances to market that enrich peoples’ lives.”

LG’s Door-in-Door™ offers 65-liters of usable space, equivalent to an additional small single-door refrigerator .In LG’s side-by-side refrigerator models, the Door-in-Door™ feature not only gives users easy access, but also helps reduce cold air loss by 46 percent , contributing to lower electricity bills.The Door-in-Door™ provides a smart organization system that gives each member of the family their own storage space.The sealed compartment also provides maximum flexibility with easily adjustable shelving and Moving Baskets.

LG Door-in-Door™ refrigerators are available in over 50 countries all over the world. The innovative Door-in-Door™ feature can be found in LG’s top-freezer, bottom-freezer, French-door and side-by-side refrigerator models.

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CCBPL Launches Balochistan Earthquake Relief Efforts By Corporate Sector

Monday, September 30th, 2013

Lahore, September 30, 2013: Coca-Cola Beverages Pakistan Limited (CCBPL), with its business deeply rooted in local communities throughout the country, has launched the corporate sector’s efforts to support relief works for the people of Balochistan affected by the recent high-magnitude earthquake. As an immediate measure, CCBPL is dispatching 8,000 unit cases of bottled water and juices valuing about Rs. 2.5 million, to the affected areas where the availability of potable water is scarce even in the best of times. Further, CCBPL has immediately donated another Rs. 2.5 million for the relief efforts being coordinated on the ground in Quetta by the Pakistan Army.

“Tens of thousands of people, still shell-shocked from the aftermath of the earthquake, are living out in the open, with the scorching heat causing dehydration and adding to the woes,” saidJohn Seward, General Manager of CCBPL. “While it is the moral duty of everyone to come to the aid of the affected people, CCBPL believed it must take the lead, being in the beverages business as we are. The initial supply of bottled water and juices will be augmented by further supplies, depending on our capability and once an accurate assessment is made of further needs.”

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Fly Emirates this Autumn With Special Offers

Tuesday, September 3rd, 2013

Up to 20% discount on airfares to worldwide destinations

Karachi, September 03, 2013 – Emirates, one of the world’s fastest growing airlines, has launched special offers with up to 20 per cent off for travellers from Pakistan for Business Class and Economy Class fares to select destinations on its global network.

The offer is valid for purchase of tickets until 10th September 2013 for travel between 15th September – 15th January 2014.

These special offers mean customers in Pakistan can enjoy Emirates’ renowned hospitality on some of the most popular destinations such as London, Birmingham, Paris and New York. Return fares to London and New York, as an example start from PKR 83,890 and PKR 108,770 respectively, inclusive of all applicable taxes.

“These special fares have been launched to cater for Pakistanis wishing to travel abroad to meet their friends and relatives or on business during this period of the year,” said Khalid Bardan, Emirates’ Vice President, Pakistan and Afghanistan. “This offer reiterates our commitment to offering our Pakistani customers the best value for money, whilst enjoying Emirates’ award-winning services,” he added.

Emirates offers a generous 30kg baggage allowance for Economy Class and 40kg for Business Class travellers.

Emirates currently serves Pakistan with regular services from Karachi, Islamabad, Peshawar and Lahore. The airline recently announced it is to commence services from Sialkot on 5th November 2013 with four weekly flights operated by an Airbus A330-200 aircraft.

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Ufone to reward its customers with gold for making phone calls

Thursday, September 5th, 2013

Karachi: September 05, 2013: Ufone – the most prevalent telecom company of Pakistan, has decided to reward their customers with 1 tolaGold by just making a single call in a day. Now subscribers will not only be able to make calls through Pakistan’s most extensivetelecom network but will also be rewarded for doing so, under a campaign called the Ufone Golden Call Offer.

Every day 10 lucky customers will be given 1 tolasona each through lucky draw. By making more calls, each subscriber can enhance their chances of winning the lucky draw by automatically getting multiple entries. There is absolutely no extra charges for making these calls hence customers can try their luck with as many calls they make.

Speaking about the Golden Call Offer, the Chief Marketing Officer Akbar Khan said “Ufone highly values its customers and incessantly finds ways to reward them. Golden call Offer is yet another step in the same direction to appreciate our loyal customers for placing their trust in our company.”
Since its inception, Ufone has focused on the people of Pakistan, empowering them with the most relevant yet futuristic communication modes, services and packages. This customer focused approach has allowed Ufone to build a subscriber base of over 24 million in less than a decade. Ufone has network coverage in 10,000 locations and across all major highways of Pakistan. Ufone currently caters for International Roaming to more than 288 live operators in more than 160 countries.

About Ufone: Ufone the leader in innovation is an Etisalat Group Company with its presence in all the major cities of Pakistan along with a comprehensive coverage across all major towns, villages and tehsil headquarters of the country. The company employs more than 3,850 people and operates with a network of more than 380 franchises and 23 company-owned customer service centers along with a distribution network of 150,000 outlets nationwide.

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LG ELECTRONICS REINFORCES ITS COMMITMENT TO CUSTOMER SERVICE

Thursday, September 5th, 2013

Launches a unique program to provide free service to LG products along with discount on spare parts and expanded 10 year warranty on Refrigerator compressor

Lahore, Sep. 05, 2013 – LG Electronics (LG), the global leader and technology innovator have launched a unique customer-friendly service program in Pakistan to provide technical assistance across LG products to its customers. The service will be routed through LG’s extensive network of 62 authorized service centers across Pakistan with 15 more to be joining the network soon.

As per program, LG Electronics will provide free service to LG products (Air Conditioners, Refrigerators, Washing Machines, Microwave Ovens and Flat Panel Display) which will include both Out of Warranty and In Warranty LG products. The unique program also offers 30% special discount on spare part and free labor which will be conducted in three major cities Karachi, Lahore & Rawalpindi. Recently, LG reinforced its commitment towards providing reliable products to its customers by providing an extended 10 years Compressor warranty of Refrigerators and Direct Drive Motors of Washing Machine.

“LG has always put the needs of its customers at the forefront, from producing the latest innovative technology to customer service,” said Mr. Michael Ha, Director, LG Electronics Pakistan. “This was the motivation behind developing our network of service centers across Pakistan as an extension to the differentiated customer-oriented services LG provides.” “With this guarantee, consumers can purchase our world-class Refrigerators and Washing Machines with confidence, knowing they have an appliance which will last long and is protected by a 10 year warranty.” He further added.

To ensure the high level of customer-service is maintained, LG have selected the technicians with the highest skill-set to operate during the program. As with the policy of LG service practices, all LG technicians will continuously be reviewed to safeguard the high-level of customer-service is maintained across all markets.

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Coca-Cola Pledges Rs. 10 Million for Flood Relief Support

Thursday, September 5th, 2013

Lahore, September 5, 2013: Owning up to its reputation as a responsible corporate citizen, Coca-Cola Pakistan has once again come forward to help the flood affected across Pakistan. Coca-Cola has pledged Rs. 10 million and partnered with reputable NGO’s such SAHARA, JSCD and Rotary Foundation to provide assistance to those who have been hit by this devastating disaster.

Coca-Cola Pakistan along with its partner organizations will provide relief goods to more than 2000 families (14,000 individuals), affected by the floods. The relief goods constitute of dry and staple food items, such as rice, lentils and oils which will be distributed in the flood affected areas of Punjab, Sindh and Baluchistan. By certain estimates, monsoon rains have so far affected over 1.2 million people, nearly 60,000 homes have been destroyed and over 1 million + acres of crops have been severely impacted.

Speaking about the program, Rizwan U. Khan, General Manager, Coca-Cola Pakistan & Afghanistan, stated, “During this time of crisis and hardship, we feel that there should be no limit to the support we offer to those in grief. Coca-Cola Pakistan’s response to the floods is a token of our commitment to communities not only as a business, but as citizens devoted to helping the communities we serve”.

“This year’s flood has virtually paralyzed life in the flood affected areas. SAHARA, believes that sound partnerships with socially responsible organization is a pertinent step towards a well-coordinated rehabilitation strategy with immediate and focused actions towards strengthening flood emergency relief structures” stated, Mr Abrar-ul-Haq, Chairman, Sahara For Life Trust.

Since 2010, Coca-Cola Pakistan has been at the forefront of providing emergency relief to the flood affectees. The company alone has donated over Rs. 25 million for flood affected areas across Pakistan, providing immediate relief to over 20,000 people and initiating long-term rehabilitation projects focusing on education and self-employment.

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