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Company News: Pakistan


JCR-VIS Credit Rating Company Limited (JCR-VIS) has reaffirmed the medium to long term entity rating of Oil and Gas Development Company Limited (OGDCL) for FY14 at 'AAA' (Triple A) and short term entity rating at 'A-1+' (A One Plus). Outlook on the assigned rating is 'Stable'.

For the past 17 years, Anila Haq has spearheaded the establishment and growth of a number of companies under the banner of Haq Holdings. Since 2012, she has been leading the advent of franchising in the domestic economy. BR Research met up with her recently to discuss the opportunities that franchising can present for businesses in the country and also the challenges that are encountered along the way. The following transcript is derived from that conversation.
The Bahrain based leading Islamic banking group, Al Baraka Banking Group BSC (ABG) announced a net profit of $69 million for the first quarter of 2015, reporting an increase of 3% over the net profit of the same period of last year.
EFU General Insurance - the titan of EFU General Insurance - was formed under the financial backing of Agha Khan III and the Nawab of Mughal. It, however, came into being in 1932 where Mr Ghulam Muhammad led the formation of this company. While securing a prominent footing in the country's insurance sector, the insurer is engaged in offering insurance schemes in the field of property, marine/aviation, motor and miscellaneous products. Besides, the company enjoys reinsurance arrangements with leading re-insurers such as Swiss Re of Switzerland, SCOR of France, Hannover Re of Germany, and Lloyd's of London.
The flagship firm of Mian Mansha's renowned Nishat Group, Nishat Mills Limited began its journey in 1951, listing itself on the Karachi Stock Exchange in 1961. By 1992, it was listed on all stock exchanges in the country. Today, its market capitalisation currently stands at well over Rs36 billion.
Engro Foods (EFOODS) is one of the top FMCG companies in Pakistan. The company was created under the umbrella of Engro Corporation in 2005. It is a publicly traded company and listed at KSE. The company is engaged in the manufacturing, processing and marketing of dairy products, ice cream, frozen desserts and fruit juices. It has established several brands that have already become household names in Pakistan such as Olper's, Tarang, Dairy Omung, Omung Lassi, Olper's Lite and Omore, amongst others.
'Documentation of property can get economy on the right track' - Nasim Beg, Non-Executive Chairman, Arif Habib Dolmen REIT Management Company Limited


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln