APR

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Archive for the ‘Press Releases’ Category

PAKISTAN TERMINAL OPERATOR FACILITATES ISO TANKS SERVICES

Tuesday, August 5th, 2014

First to offer support services in form of cleaning, storage and repairs

Karachi, August 04, 2014: e2e Supply Chain Management, Pakistan’s leading provider of end to end logistics services in collaboration with Freight Connection Pakistan- Leading terminal operator & provider of shipping services, seized a business opportunity to offer professionally run and tailor made facilities dedicated to cleaning, storage, repairs and support services for ISO tanks under the name Pakistan Terminal Operators (PTO). This is the first ever and only Certified Cleaning Station in Pakistan which has changed the dynamics of the liquid transportation industry by offering laden in ISO tanks both ways.

The founder and CEO of e2e Supply Chain Management, Mr Abid Butt said, “Initially, in Pakistan these tanks were used in a single trip as there was an absence of proper, professional cleaning and washing facilities that required a specialized cleaning technology to clear out all odors and contamination in order to be reused for transportation. Now with Pakistan Terminal Operator (PTO), it will not only reduce the cost of transporting empty tanks but will also bring efficiencies among local and international tank operators”

Mr. Khurram Niazi COO of Freight Connection Pakistan & CEO of PTO commented, “Establishing the first ITCO certified ISO tank and tanker cleaning facility in Port Qasim has helped to play a vital role in changing the dynamic of the liquid transportation industry in Pakistan.”

The tank station is designed to meet the standards for world-class performance and is equipped with the most modern techniques to minimize the environmental impact. The machinery for the cleaning station has been imported from a German Company Weidner, internationally renowned for its pressure cleaning systems. The tank cleaning station is built to serve and facilitate international tank operators as well as local bulk liquid tankers of food and chemicals.

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LG ELECTRONICS’ STRONG QUARTERLY RESULTS REFLECT TURNAROUND OF MOBILE BUSINESS

Tuesday, August 5th, 2014

Success of LG G3 Contributes to Record Smartphone Shipments in Quarter

Karachi, August 05 2014 ― LG Electronics Inc. (LG) announced a 165 percent increase in second-quarter net profit compared with the same period last year, reflecting strong earnings from both the TV and mo-bile operations. LG reported second-quarter 2014 net profit of KRW 412 billion (USD 399.8 million) and operating profit of KRW 606 billion (USD 588.5 million), an increase of 26.5 percent year-over-year. Un-audited second quarter consolidated revenues of KRW 15.37 trillion (USD 14.93 billion) increased 7.7 per-cent from the previous quarter.

The LG Home Entertainment Company saw steady performance with second-quarter revenues of KRW 5.09 trillion (USD 4.94 billion), a 3 percent increase quarter-over-quarter and almost unchanged from the same quarter 2013. Operating profit of KRW 154.5 billion (USD 150 million) was an increase of 64.9 per-cent from the same quarter last year as a result of better product mix and lower fixed costs. Demand for Ultra HD TVs in key markets will continue to drive LCD TV revenue growth. The B2B market, led by moni-tors and digital signage, also is expected to contribute to LG’s growth in this segment.

The LG Mobile Communications Company shipped a record-high 14.5 million smartphones in the second quarter, a 20 percent increase year-over-year with LTE products accounting for more than one-third of all LG smartphones sold this year. As a result, sales increased 16 percent from the same period last year to KRW 3.62 trillion (USD 3.51 billion), the highest since the first quarter of 2010. The mobile division’s oper-ating profit of KRW 85.9 billion (USD 83.4 million) in the second quarter put an end to three consecutive quarters of losses. Much of the success was due to the initial popularity of the LG G3 in the Korean market and strong sales of L SeriesIII smartphones. LG plans to continue its global rollout of the G3 and introduce more mass tier products in the second half, including variations of the LG G3, such as the recently an-nounced G3 Beat, and additional L Series models.

The LG Home Appliance Company reported strong sales in the Korean market with sales increasing 9 per-cent from the same quarter the previous year. Second-quarter revenue of KRW 3.03 trillion (USD 2.94 bil-lion) was 5 percent lower compared with the same period last year due to unfavorable foreign currency exchange movement especially in developing markets. An improvement in cost structure resulted in the LG Home Appliance Company recording operating profit of KRW 97.8 billion (USD 95.0 million) and profit margin of 3.2 percent. LG expects revenues and profitability for home appliances to increase in the sec-ond half due to the launch of market-leading washing machine and refrigerator products and the effect of cost reductions.

The LG Air Conditioning & Energy Solution Company recorded steady sales of commercial air conditioners and new products such as dehumidifiers with revenues of KRW 1.64 trillion (USD 1.59 billion) and operat-ing profit of KRW 164.2 billion (USD 159.4 million) in the second quarter. Despite slightly lower revenues than the same period last year, an improved product mix resulted in a profit margin of 10 percent in the second quarter, and second-half results are expected to benefit from increased demand in the Middle East, rollout of additional variable refrigerant flow (VRF) air conditioning products and stronger cost com-petitiveness in commercial air conditioners.

2014 2Q Exchange Rates Explained
LG Electronics’ unaudited quarterly earnings results are based on IFRS (International Financial Reporting Standards) for the three-month period ending June 30, 2014. Amounts in Korean won (KRW) are trans-lated into U.S. dollars (USD) at the average rate of the three-month period of the corresponding quarter ― KRW 1,030 per USD (2014 2Q).

Earnings Conference and Conference Call
LG Electronics will hold a Korean language earnings conference on July 24, 2014 at 16:00 Korea Standard Time at the LG Twin Tower Auditorium (B1 East Tower, 20 Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea). An English language conference call will follow the next day on July 25, 2014 at 10:00 Korea Standard Time (02:00 GMT/UTC). Participants are instructed to call +82 31 810 3070 and enter the passcode 9084#. The corresponding presentation file will be available for download at the LG Electronics website (www.lg.com/global/ir/reports/earning-release.jsp) at 14:00 on July 24, 2014. Please visit http://pin.teletogether.com/eng/ and pre-register with the passcode provided. For those unable to par-ticipate, an audio recording of the news conference will be available for a period of 30 days after the con-clusion of the call. To access the recording, dial +82 31 931 3100 and enter the passcode 142740# when prompted.

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Dawood Public School Enhances the A-Level Program

Wednesday, August 27th, 2014

Karachi, August 27, 2014: Dawood Public School, a well-renowned and leading girls’ school in Karachi, established over 30 years ago, welcomed the new batch of A-Level students with a substantially enhanced program, as announced at an orientation for students and parents. The unique feature of the program is measures to eliminate the need for tuitions, which has become a common practice otherwise. These include subject support classes mentored by senior students and conducted by experienced teachers to provide extra time for students who require further understanding of a subject.

The school has started the new academic year on the back of excellent results of the previous A-Level batch, in which 23.75 % A*s and A’s from a batch of 60 students. Moreover, the school opens its gates for the new A-Level batch with new initiatives being introduced to facilitate students both academically as well as socially. The school introduced subjects like English Language, Literature and World History last year, which only a few schools offer in A-Level as a full fledged module. New clubs and societies have been created including Reading Club, Art & Design Club, Yoga/Skating society to promote extracurricular activities in its students catering to their interests.

Commenting on these new developments, the school Principal Ms. Huma Thaver said, “The level of competition among students this year was very high. We got about 130 entries for applicants into the A Level program from across all schools in the city but only handpick the best. Our new batch includes students with 21% A*s and 40% As. Our vision is to empower these young girls to become productive citizens of our society which can only happen by improving academic standards which is a continuous process here at Dawood Public School.”

One of the senior students of the school, Maryam Raza on this occasion said, “I was shortlisted to be part of the school due to my straight A’s in O-Levels but even then A-Levels was very tough. Today because of the encouragement and support provided by my school along with my hard work, I stand as a straight A grader student of the first year. I am grateful to my school for this faith and confidence in me that has made me believe anything is possible if we put our mind to it.”

Dawood Public School (DPS) is an institution that offers sound education to over 2500 girls. Established in 1983, the school was developed to provide good quality education to women to empower them. Initially, the school only catered to students from Nursery till Class V, but it progressed right up to O Levels by 1989 and has been achieving 100% pass rate since then. The school also introduced its A-Level program in 2010 and has succeeded in maintaining its 100% pass rate. Furthermore, each year some of the students achieve regional and world positions in different subjects as well. DPS encourages students to actively participate in co-curricular activities and social programmes.

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EBM to actively support 16th MAP Convention as Founding Partner

Friday, August 29th, 2014

Karachi, August 29, 2014: Pakistan’s leading biscuit manufacturing company, English Biscuit Manufacturers (Pvt.) Limited (EBM), will be deeply involved in Management Association of Pakistan’s 16th Convention to take place next week, in its role as a Founding Partner of this flagship event that brings together national and international experts on one platform. Saadia Naveed, Deputy Managing Director of English Biscuit Manufacturers (Pvt.) Ltd. (EBM) is also the President of the Management Association of Pakistan (MAP), since June 2013, and she is the first ever female President of this prestigious professional body.

The theme of the Convention this year is ‘Re-think Management’, and the event will reinforce the need of innovative management practices and re-thinking on contemporary management styles for the future success of businesses. Throughout history, only those companies which have been continuously adapting their management practices to the rapidly changing business environment have been able to achieve meaningful growth.

EBM is a classic case study of how good management practices have driven rapid growth, as its sales have gone up from Rs. 3 billion to Rs. 23 billion in the past 10 years. Following what is known as a ‘sustainable management’ approach, the company has synthesized sustainability concepts with time-tested management practices. This approach has generated the capability in the company of keeping a system running indefinitely without depleting resources, while maintaining economic viability, and nourishing the needs of the present and future generations.

Speaking about EBM’s management style, Dr. Zeelaf, Chairperson, Executive Management Board, said: “What fuels long-term business success is not just operational excellence or technology breakthroughs, or even new business models, although all these are important. The critical difference is made by management innovation—adopting new ways of mobilizing talent, allocating resources, and formulating strategies. Corporate sustainability has created a significant competitive advantage for companies that have implemented it. At EBM, it is part of our management’s DNA and corporate culture. We strongly believe in doing the right thing that benefits the environment and society, and makes good business sense.”

Management Association of Pakistan is a 50 year old body created to facilitate the business community as their think tank of ideas to implement the best management practices for generating higher productivity and growth. Each year this convention gathers businessmen from across the country and even international speakers who are thought leaders willing to change mindsets. The first day of convention is for presentations and panel discussions whereas the second day is dedicated to two workshops by Tony Buzan, the Inventor of Mind Maps and Lucy Cornell, the Chief Inspiration Officer at Voice Coach.

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