FORTIFICATION AND SURVIVAL

Transcription

1 FORTIFICATION AND SURVIVAL 0800-CDCPL (23275)

2 FORTIFICATION AND SURVIVAL Daalan Pavillion A daalan refers to an area within, or adjacent to, the main building used for relaxation and leisure. Historically, these spaces allowed inhabitants to recharge so that they could then march ahead with full force. Because of this, they had an undeniable significance in a fortification, and became crucial for survival. Here at CDC, we understand that nurturing talent and capability is the backbone of survival. By effective risk management at all levels, we prevent the overloading of any one particular function and ensure that everyone in our sphere our clients and our employees has room to breathe, grow and be the best they can be. Registered Offices: Head Office: CDC House, 99-B, Block B, S.M.C.H.S., Main Shahra-e-Faisal, Karachi Tel: (92-21) I Fax: (92-21) Lahore Branch: 307, 2nd Floor, Upper Mall, Lahore Tel: (92-42) I Fax: (92-42) Islamabad Branch: Room # 410, 4th Floor, Islamabad Stock Exchange Towers,55-B, Jinnah Avenue, Blue Area, Islamabad. Tel: (92-51) I Fax: (92-51) info@cdcpak.com URL: Customer Support Services: (CDCPL) For Overseas Callers: +92 (21)

3 Contents 01 Muhammad Hanif Jakhura, CEO-CDC elected on the Board of Pakistan Institute of Corporate Governance (PICG) EFU Life and CDC sign Memorandum of Understanding CDC participates in 18th ACG Annual General Meeting and Conference in Xi an, China CDC Introduces edividend Facility CDC conducts Investor Awareness Seminars in Sukkur and Daharki Senior Swiss Diplomats visit CDC ITMinds Limited 05 participates in GITEX Technology week in Dubai NOTICE BOARD 06 Statistical Highlights 2014 Oct-Dec Issue No. 59 CDS UPDATES

4 Muhammad Hanif Jakhura, CEO-CDC elected on the Board of Pakistan Institute of Corporate Governance (PICG) EFU Life and CDC sign Memorandum of Understanding Pakistan Institute of Corporate Governance (PICG) is a Not-for-Profit organization that undertakes initiatives like education, awareness, research, discussion and consultancy targeted towards achieving good Corporate Governance across industries. institute has endorsements from some of the most influential entities within the country including the likes of SECP, SBP and CDC itself. It is a matter of immense importance and pride that CDC s association with the organization has become official through the election of Mr. Muhammad Hanif Jakhura on the Board of PICG. Continuing our long standing tradition of collaborating with the corporate community for better access to markets and customers, Central Depository Company of Pakistan Limited (CDC) has signed a Memorandum of Understanding with EFU Life Assurance Limited. This collaboration will be the first of its kind where insurance solutions will be offered to CDC customers and simultaneously CDC can increase its outreach by utilizing EFU Life s branch network. This endeavour will help expand CDC s outreach and ultimately facilitate customers in several cities across Pakistan. Muhammad Hanif Jakhura, CEO CDC has been recently elected as a Director on the Board of Pakistan Institute of Corporate Governance (PICG). highest number of votes received by him reflects the confidence of the corporate world in the leadership of CDC. Muhammad Hanif Jakhura was amongst the first batch of participants who completed the course conducted by Pakistan Institute of Corporate Governance (PICG) for Certified Directors in He also serves on the Quality Assurance Board of Institute of Chartered Accountants of Pakistan and on the boards of Pakistan Mercantile Exchange (PMEX) and Institute of Capital Markets. Mr. Taher G. Sachak, MD & CEO EFU Life Assurance Ltd. exchanging MoU deed with Mr. Hanif Jakhura, CEO CDC MoU signing ceremony for this initiative was held at CDC House Karachi in presence of senior officials from both organizations including Taher G. Sachak, CEO & MD EFU Life and Muhammad Hanif Jakhura, CEO-CDC. This joint endeavor marks the beginning of a strategically beneficial partnership between CDC and EFU which will yield returns not just for the two institutions but to the external community at large. 1

5 CDC participates in 18 th ACG Annual General Meeting and Conference in Xi an, China Central Depository Company is not only at the forefront of Pakistan Capital Market but is also a national institution representing the country on regional and international forums. In October 2014, CDC Pakistan participated in the 18th ACG Annual General Meeting and Conference held in Xi an, China. This was the first AGM of ACG with CDC acting as the Secretariat, leading the central coordination for the event. ACG is an informal association comprising of CSDs and clearinghouses of the Asia-Pacific region. primary focus of the body is to aid in the promotion of cooperation and understanding between its member institutions and enhancing cross-border knowledge sharing. In the pursuit of its mission, ACG organizes two annual events. Of these, the most significant is the Annual General Meeting and Conference which is made up of two essential parts. conference is a public session comprising of speeches and panel discussions on issues related to the theme of that year s event. General Meeting, a member only session, is held for the prime purpose of voting on key decisions and issues directly linked to ACG. 18th ACG AGM was hosted by the China Central Depository & Clearing Corporation and was held in the historical city of Xi an. event was attended by 75 participants and Mr. Yoshinobu Takeuchi, Honorary Chairman of Executive Committee ACG (second from left) and Mr. Hanif Jakhura, CEO-CDC and Chairman of Executive Committee ACG (third from left) with other delegates at the ACG AGM 18. included the likes of Mr. Mathias Papenfuss, Chairman European Central Securities Depositories Association (ECSDA) and Mr. Boon Hion Chan, Chairman - Asia Focus Group of the Association of Global s among others. theme decided for the event was Regionalization, Globalization and Diversification: Opportunities for Asia-Pacific CSDs. In his welcome address, Mr. Muhammad Hanif Jakhura, Chairman of the Executive Committee of ACG, commented on the event by stating that: I cannot think of a theme as significant as this one, which I feel is befitting the spirit of the regional association. With the immense growth in capital markets in Asia, there is much to be gained from the cross-border opportunities. Pursuant to this theme, the guest speakers deliberated on areas ranging from business diversification to sustainability measures of CSDs. Mr. Fazal Gaffoor, CFO and Company Secretary CDC moderated an informative panel discussion on sustainability measures. One of the major highlights of the event was a public declaration entitled the Xian Initiative which laid down the vision of the regional 2

6 association in the coming years and the means by which that vision can be fulfilled. Several key decisions were taken at ACG 18. One such decision was the selection of the host for the World Forum of CSDs event to be held in 2017 and a consortium of Depositories from Pakistan, India, Hong Kong and China were voted with Hong Kong as the venue for WFC 17. event was also the forum for another addition in CDC s list of MoUs with leading depositories of the world. This time CDC signed a Memorandum of Understanding with MKK Turkey, further strengthening its ties with the international CSD community. 18th ACG Conference in progress MoU signing between CDC and MKK Turkey Fast Facts ACG was formed in ACG currently has 32 members in 23 countries of the Asia-Pacific Region. For the years , Mr. Muhammad Hanif Jakhura, CEO-CDC is the Elected Chairman of ACG Executive Committee. For the same period, CDC Pakistan is the ACG Secretariat. Mr. Muhammad Hanif Jakhura also represents ACG on the board of World Forum of CSDs that comprises of 5 regional bodies of CSDs from around the world. City of Xi an is known for its legendary Terracotta Army. 3

7 CDC introduces edividend Facility Continuing the trend of being at the forefront of innovation in capital market development, the Central Depository Company of Pakistan Limited became the pioneering institution in the country to introduce edividend facility. This service enables issuers to electronically credit dividend amounts into bank accounts of shareholders directly without the need of any paper formalities or manual effort. first such transaction was executed for the dividend of Lucky Cement Limited through its banking partner. Innovative offering of services like this has enabled CDC to achieve another milestone in Share Registrar Services after exceeding 100 clients in a short span of time. CDC conducts Investor Awareness Seminars in Sukkur and Daharki Mr. Tariq Siddiqui, Assistant Manager Operations and Customer Support Services, CDC giving presentation to investors at Sukkur IBA CDC continued its long standing tradition of promoting awareness by conducting Investor Awareness Seminars in Sukkur and Daharki in the month of December se seminars were organized particularly in the context of current regulatory initiatives where subscriptions of CDC Access SMS and Alerts have been made mandatory by the Securities & Exchange Commission of Pakistan. This initiative was also taken in line with CDC s belief that an informed investor is more enabled to keep his investments secure. Two sessions were organized at the premises of Sukkur IBA for Sub-Account Holders and students while one session was given to the employees and management of Engro Fertilizers plant in Daharki. audience were briefed about CDC s role, responsibilities and service offerings. free-of-cost CDC Access portfolio was also introduced. Investors were apprised about their roles, responsibilities and rights as well. seminars were well received and the attendees stressed that CDC should show presence on a monthly basis in the form of day-long sessions or IPV desks. All the queries and concerns were dealt with expertly by the CDC team. A highlight of these seminars was the motivating presentation by Mr. Shuja Qureshi, famous TV anchor, who was invited as a guest speaker for these sessions. He spoke in length about cultivating a habit of savings from a young age and investing smartly to gain the right results. next seminar is scheduled to take place at ICAP Karachi. Senior Swiss Diplomats visit CDC Mr. Emil Wyss (Consul General), Mr. Roger M. Kull (Deputy Head of Mission at the Embassy of Switzerland in Islamabad) and Mr. Jordan James Din (Head of Commercial Section) at the Swiss Consulate General in Karachi visited CDC House in Karachi on November 27, Mr. Muhammad Hanif Jakhura, CEO-CDC and senior management of CDC welcomed the delegation, who were apprised about the performance of Pakistan Capital Market in recent years. y were also informed about CDC s businesses, investor awareness & cultivation initiatives, IT infrastructure and CSR activities. Swiss delegation greatly appreciated the efforts of CDC in the development and progress of Pakistan Capital Market. 4

8 ITMinds Limited participates in GITEX Technology week in Dubai ITMinds Limited, a wholly owned subsidiary of CDC, specializing in the provision of technology consultancy, implementation and outsourcing solutions, participated in GITEX Technology week from October 12-16, 2014 at the Dubai World Trade Centre. Considered as the top Information and Communications Technology event of Middle East, Africa & South Asia (MEASA), GITEX 2014 attracted 139,000 ICT professionals from 144 countries with over 450 companies. primary aim of ITMinds Limited was to align its current services with the global industry practices, explore partnerships and to promote products & services of ITMinds internationally. On behalf of ITMinds Limited, the event was attended by a delegation comprising of Mr. Muhammad Junaid Shekha (CEO), Mr. Shaikh Nadir Hussain (Program Manager) & Mr. Taha Tungekar (Marketing Manager). NOTICE BOARD National Tax Number (NTN) in the Registration Details of Corporate Account Holders [Circular: October 29, 2014] Insertion of NTN into CDS as part of registration details has been made mandatory for Corporate Accounts. refore all CDS Participants were informed to obtain and enter NTN details from existing corporate accounts if they had not done so already. This would enable the Issuers to check the status of their respective shareholders from the Active Tax-payers List (ATL) available on the website of the Federal Board of Revenue for the purpose of withholding of tax on dividend. It was further advised to ensure that all new CDS Corporate Accounts opened must carry NTN. Consolidation of Alerts [Circular: December 23, 2014] Keeping in view the convenience of the Investors, the mechanism of generating alerts has been changed with effect from December 26, 2014 whereby now alerts of all consolidated Balance Orders relating to a single trade (script-wise) will be sent. CDS UPDATES Upgrade of CDS Application [Circulars: October 02 and 10, 2014 (Karachi)] CDC has upgraded its Existing CDS application platform. In this regard, CDS Elements of Karachi were informed that ecds New Application icon was installed and configured on their respective CDS terminals. Mandatory Subscription of either SMS or ealert by existing Sub-Account holders [Circular: December 16, 2014] A circular was sent to CDC Elements reminding them about amendments in CDC Regulations regarding mandatory subscription of either SMS or ealert by existing Sub-Account holders. In this regard, they were apprised that SECP has approved the amendments in CDC Regulations vide its letter dated April 18, According to these amendments, any Sub-Accounts not having either a local mobile number or an address by December 31, 2014, will be blocked by CDC allowing only the following activities during blocking period: Portfolio transfers; and Updation of registration details It is important to note that such blocked sub-accounts will only be restored when a local mobile number or an address is provided. Participants were requested to regularize all Sub-Accounts under their Participant umbrella by obtaining and inserting local mobile number and/or an address from the respective Sub-Account Holders, preventing any non-compliance related action. 5

9 Statistical Highlights Central Depository System (CDS) Type of Elements as of December 31, Issuers 613 Participants / Account Holders 95 Pledgees Breakup of Securities TFCs / Sukuk 37 Open End Units 17 Preference Shares 6

10 List of Securities Declared Eligible for CDS S.No. Security Name Security Type Notice Date Eligibility Date 1 Al Baraka Bank (Pakistan) Limited 02 Oct, Oct, Askari Bank Limited 03 Oct, Oct, Allied Rental Modaraba - LoR Right Renounciable 15 Oct, Oct, Crescent Textile Mills Limited Right Renounciable 20 Oct, Oct, Gul Ahmed Wind Power Limited Right Renounciable 22 Oct, Oct, Aruj Industries Limited Right Renounciable 23 Oct, Oct, International Knitwear Limited Right Renounciable 05 Nov, Nov, Safe Mix Concrete Products Limited Right Renounciable 07 Nov, Nov, Javedan Corporation Limited Right Renounciable 07 Nov, Nov, Y. B. Pakistan Limited Right Renounciable 14 Nov, Nov, Fauji Fresh n Freeze Limited Right Renounciable 17 Nov, Nov, National Investment Trust Limited 17 Nov, Nov, Quice Food Industries Limited Right Renounciable 26 Nov, Nov, Systems Limited 08 Dec, Dec, Synthetic Products Enterprises Limited 10 Dec, Dec, Sindh Modaraba Management Limited 15 Dec, Dec, Shabbir Tiles and Ceramics Limited 31 Dec, Jan,

11 List of Securities Inducted into CDS S.No. Security Name Security Type Live Date Engro Fertilizers Limited - Sukuk Certificates (4th Issue) Al Baraka Bank (Pak) Limited - Sukuk Certificates Awwal Modarba Management Limited Askari Bank Limited (PPTFC-V) National Investment Trust Limited Systems Limited Sindh Leasing Company Limited 23 Oct, Nov, Nov, Nov, Dec, Dec, Dec, 2014 List of Securities Delisted from CDS S.No. Security Name Security Type Delist Date Orix Leasing Pakistan Limited - TFC 2nd Issue ( ) Engro Corporation Limited - TFC ( ) Pakistan Mobile Communication Limited - TFC (7th Issue) Escorts Investment Bank Limited - TFC ( ) Bank Al Habib Limited - TFC (2009) United Bank Limited - TFC ( ) Debt Instrument 21 Oct, Nov, Nov, Dec, Dec, Dec,

12 Credit of New Issues / Offer for Sale S.No. Security Name Issue Type Security Type Apply Date 1 Engro Powergen Qadirpur Limited (Book Building) Offer For Sale Oct 14, Engro Powergen Qadirpur Limited (General Public) Offer For Sale Oct 22, Engro Fertilizers Limited - Sukuk Certificates (4th Issue) New Issue Oct 22, Albaraka Bank (Pakistan) Limited - Sukuk Certificates New Issue Nov 10, Awwal Modaraba Management Limited New Issue Nov 17, Askari Bank Limited (PPTFC-V) New Issue Nov 18, Saif Power Limited Offer for Sale (Book Building) Dec 05, Saif Power Limited Offer for Sale (General Public) Dec 09, Allied Bank Limited Offer for Sale Dec 23, Sui Southern Gas Company Limited - Certificate of Leasing New Issue Dec 31, 2014 Credit of Shares / Certificates against Right Issue / Further Issue S.No. Security Name To Effective Date Treet Corporation Limited Gul Ahmed Wind Power Limited TRG Pakistan Limited - Class 'A' Fauji Fresh n Freeze Limited KASB Modaraba NRSP Microfinance Bank Limited Cherat Cement Company Limited Y. B. Pakistan Limited Pak Elektron Limited Bankislami Pakistan Limited Engro Corporation Limited Bank Alfalah Limited Further Issue Right Issue Right Issue Right Issue Right Issue Right Issue Right Issue Right Issue Right Issue Right Issue Further Issue Further Issue Oct 28, 2014 Nov 07, 2014 Nov 10, 2014 Nov 10, 2014 Nov 17, 2014 Dec 01, 2014 Dec 17, 2014 Dec 23, 2014 Dec 24, 2014 Dec 31, 2014 Dec 11, 2014 Dec 23,

13 Credit of Unpaid Rights S.No. Security Name Apply Date Cherat Cement Company Limited KASB Modaraba Pak Elektron Limited Gul Ahmed Wind Power Limited Aruj Industries Limited Allied Rental Modaraba International Knitwear Limited Crescent Textile Mills Limited Javedan Corporation Limited Fauji Fresh n Freeze Limited Y. B. Pakistan Limited Quice Food Industries Limited Aisha Steel Mills Limited Oct 01, 2014 Oct 02, 2014 Oct 20, 2014 Oct 31, 2014 Nov 05, 2014 Nov 17, 2014 Nov 17, 2014 Nov 20, 2014 Nov 21, 2014 Nov 25, 2014 Dec 02, 2014 Dec 04, 2014 Dec 20, 2014 Detail of Partial Conversion and Cancellation S.No. Security Name Apply Date 1 Aisha Steel Mills Limited (Ordinary & Pref. Shares) Oct 13,

14 Credit of Bonus Issue S.No. Security Name % of Bonus Declared Apply Date 1 Security Papers Limited 19% Oct 01, East West Insurance Company Limited 9.5% Oct 24, IBL HealthCare Limited 28.5% Nov 18, Searle Company Limited 38.0% Nov 19, Gul Ahmed Textile Mills Limited 23.75% Nov 24, Shezan International Limited 9.5% Nov 25, Suraj Cotton Mills Limited 10% Nov 27, Mari Petroleum Company Limited 19.0% Nov 27, Habib Asset Management Limited 15% Nov 27, First Paramount Modaraba 9.5% Nov 28, East West Insurance Company Limited Remaining 5% Dec 02, Searle Company Limited Remaining 5% Dec 19, IBL HealthCare Limited Remaining 5% Dec 19, Gul Ahmed Textile Mills Limited Remaining 5% Dec 29, 2014 Detail of Change of R/TA (Listed & Unlisted) S.No. Security Name From To Effective Date 1 United Insurance Company Limited Shares & Corporate Registrar Services Limited F.D Registrar Services (SMC-Pvt) Ltd Oct 01, Metropolitan Steel Corporation Limited Self Hameed Majeed Associates (Pvt) Ltd Oct 24, IGI Life Insurance Limited THK Associates (Pvt) Limited Famco Associates (Pvt) Ltd Dec 29,

15 Investor Account Services (IAS) as of December 31, 2014 Corporate Investor Accounts Individual Investor Accounts 1,105 Karachi 37, Lahore 8, Islamabad 5,071 Number of Accounts Number of Securities (in Billion) 52, Activations (for IAS Customers) as of December 31, 2014 No. of IAS A/C Activation of Web / IVR Activation of SMS 25,832 35,561 52,184 12

16 KSE & CDS Summary as of December 31, 2014 Listed Companies at KSE 557 KSE 100 Index during the last six months Listed Capital at KSE (in Billion) Number of shares in CDS (in Billion) Units of Open-End funds in CDS (in Million) Units of TFCs, Sukuks and Bonds in CDS (in Million) Market Capitalization in KSE (in Billion) Market Capitalization of shares in CDS (in Trillion) Percentage of shares in CDS w.r.t. Share Capital * * Excluding GoP holding , % 33,000 32,000 31,000 30,000 29,000 28,000 27,000 26,000 32, , , , , , July August September October November December Shares traded at KSE during last six months World Market Indices Month Closing July August September October November December Turnover of Shares Ready (No. in Million) 2, , , , , , Future Contract (No. in Million) Market Cap. (Rs. in Million) 7,120, ,726, ,914, ,033, ,152, ,380, Source: KSE Quotation Index BSE SENSEX S&P/ TSX Composite FTSE 100 (London) NIKKEI 225 (Tokyo) DAX (Frankfurt) CAC 40 (Paris) ALL ORDINARIES HANG SENG (Hong Kong) Value as on December , , , , , , , , Source: Google Finance 13

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