Daily Archives: May 7, 2018

Pakistan Stock Exchange Limited Market Position on 07-05-2018

Karachi, May 07, 2018 (PPI-OT):


                                                               DAILY STOCK MARKET REPORT

                                                          Market Position Printed On May-07-2018

COMPANIES             KSE             KSE-30        KSE-100       KSE-ALLSHR    KMI-30        BATi         OGTi         PSX-KMI
POSITION INDICES      INDEX           INDEX         INDEX         INDEX         INDEX         INDEX        INDEX        INDEX
Plus            126   Current         21777.56      44378.52      32142.80      75880.13      16168.95     21106.85     22166.39
Minus           224   Previous        21848.80      44536.91      32259.17      75896.64      16404.21     20709.93     22167.88
Unchanged        22   High            21998.30      44763.22      32492.60      76568.78      16404.21     21242.78     22313.60
Total           372   Low             21743.73      44324.89      32118.46      75800.23      16124.97     20709.93     22155.22
                      Net Change        -71.24       -158.39       -116.37        -16.51       -235.26       396.92        -1.49
                      Percentage         -0.33         -0.36         -0.36         -0.02         -1.43         1.92        -0.01

                       TURNOVER                               TRADING VALUE                           MARKET CAPITAL
Current                130,508,070                            5,597,124,073                            9,146,363,003,238
Previous               139,667,680                            5,060,066,751                            9,180,227,105,919

                                                         COMPANIES REFLECTING SIGNIFICANT TURNOVER

Company Name               Prv.Rate     Opening Rate    Closing Rate   Highest Rate      LOW Rate          Turnover
Unity Foods Ltd             30.44            30.50           31.77          31.96         30.20            13,513,000
B.O.Punjab                  12.25            12.23           11.94          12.26         11.90             7,238,000
Ist.Dawood Bank              2.19             2.25            2.78           3.05          2.25             7,090,000
Engro Fert.                 73.26            72.80           74.29          75.10         72.80             6,120,500
Azgard Nine                 14.95            15.31           14.89          15.31         14.75             5,222,500
D.S. Ind. Ltd.               4.04             4.30            3.88           4.35          3.68             4,274,500
TRG Pak Ltd                 34.11            34.00           32.57          34.29         32.42             3,938,500
Trust Inv.Bank               2.03             1.92            2.20           2.65          1.92             3,706,000
Shabbir Tiles               21.88            22.01           22.97          22.97         22.00             3,581,000
Pak ElektronXD              43.97            43.90           42.53          44.22         42.01             3,233,000

                                                     COMPANIES REFLECTING HIGHEST INCREASE/DECREASE IN THEIR RATES

Company Name             Increased By             Closing Rate     Company Name          Decreased By        Closing Rate
Colgate Palmolive               98.67                3058.67       Sapphire Tex.                77.20           1771.02
Unilever FoodsXD                74.50                8174.50       Pak TobaccoXD                67.00           2057.00

                                                                  FUTURE CONTRACT

                               TURNOVER                                Plus                            120
Current                        26,510,500                              Minus                            30
Previous                       30,190,000                              Unchanged                         4

Company Name                         Prv.Rate    Opening Rate    Closing Rate      Highest Rate      Low Rate     Turnover
TRG-MAY                               34.30           34.02           32.72             34.39          32.59      5,718,500
BOP-MAY                               12.31           12.29           11.98             12.31          11.92      3,156,500
PAEL-MAY                              44.18           44.00           42.70             44.30          42.20      2,620,500
STCL-MAY                              21.97           22.00           23.06             23.06          22.00      2,465,000
DGKC-MAY                             143.46          143.25          141.89            144.20         141.50      1,412,000

For more information, contact:
Senior Manager
Public Relations
Pakistan Stock Exchange Limited
Tel: (92-21) 111-001122
Fax: (92-21) 3241 0825, (92-21) 3241 5136
Email: info@psx.com.pk
Web: www.psx.com.pk

PCMA demands restoration of Section 59B along with clause (103A) of the Income Tax Ordinance, 2001

Lahore, May 07, 2018 (PPI-OT): Pakistan Chemical Manufacturers Association (PCMA) has demanded restoration of Section 59B along with clause (103A) of the Income Tax Ordinance, 2001 regarding group relief in the final approval of budget for the encouragement of the corporatization in the country. Mr. Zafar Mahmood, Senior Vice Chairman PCMA, in a press statement, has expressed grave concern on withdrawal of the said section from Finance Bill 2016.

Elaborating the issue, PCMA Office Bearer told that the Government had introduced the concept of group taxation and group relief to promote corporatization and group formation, allowing the corporate entities to grow into conglomerates. For this purpose, section 59B along with clause (103A) of the Income Tax Ordinance, 2001 regarding group relief have remained active till announcement of the current federal budget, he said adding that under this facility, a company owning 55% or more of a subsidiary company was to pay tax on dividend received from the subsidiary at the time of distribution to ultimate shareholders, thus curbing the chances of double taxation on dividend.

He acknowledged that the facility was adopted by the Government in line with best international practices to promote corporatization in the country, as a result of which a number of industrial groups had formed the group structures. But, to surprise of the industry, the said Section 59B that deals with the group relief, has been omitted and benefit of exemption of inter-corporate dividend has been withdrawn, Mr. Zafar lamented and informed that the situation has forced the large industrial groups to pay double tax on dividend in case of one subsidiary and triple tax on dividends in case of dividend received from the subsidiary of a subsidiary.

This unilateral action by the Government, without taking the stakeholders on board, has severely hurt the concept of corporatization in the country, although the industry had remained in contact with the Government for re-instatement of the facility for last 2 years, he said. It was expected the honourable finance minister, Mr. Miftah Ismail who is also from the business community would address this issue in the current budget but the same did not materialize again, he lamented and demanded restoration of Section 59B along with clause (103A) of the Income Tax Ordinance, 2001 regarding group relief in the final approval of budget for the encouragement of the corporatization in the country.

For more information, contact:
Pakistan Chemical Manufacturers Association (PCMA)
407-Eden Heights, Jail Road, Gulberg, Lahore, Pakistan
Tel: +92-42-35786867
E-mail: bds@pcma.org.pk
Website: www.pcma.org.pk

LG G7 ThinQ Offers Deep AI Integration for Maximum User Convenience

Karachi, May 07, 2018 (PPI-OT): LG Electronics (LG) introduced its latest premium smartphone, the LG G7 ThinQ, focusing on bringing useful and convenient AI features to the fundamental consumer smartphone experience. Powered by the latest Qualcomm Snapdragon™ 845 Mobile Platform, the LG G7 ThinQ offers 4GB/6GB of RAM and 64GB/128GB of internal storage to run even the most demanding tasks and apps with ease. Equipped with a stunning 6.1-inch bright display has is nearly half an inch larger than its predecessor but not a hair wider, the LG G7 ThinQ is sized perfectly to be used with one hand.

Sporting a new design aesthetic for the G series, the polished metal rim gives the LG G7 ThinQ a sleeker, more polished look, complemented by Gorilla Glass 5 on both the front and the back for enhanced durability. Again rated IP68 for dust and water resistance, the LG G7 ThinQ was designed to meet the requirements of MIL-STD 810G tests designed by the United States military to evaluate the performance of equipment in harsh environments.

Upgraded Camera with More Intelligence

The LG G7 ThinQ has been upgraded with an 8MP camera up front and 16MP lenses on the back in both standard and Super Wide Angle configurations for higher resolution photos with more details. LG’s signature wide angle camera now captures even more beautiful landscapes with less edge distortion and selfies are clearer and look more natural compared with previous LG phones.

LG has further enhanced the AI features of the camera that first debuted in the LG V30S ThinQ. AI CAM now offers 19 shooting modes, up from eight, for even more intelligence-optimized shots. And users can improve their photos further by choosing among three other effect options if the one recommended by AI CAM doesn’t suit their tastes.

Low light photography on the LG G7 ThinQ is taken to a whole new level with the new Super Bright Camera with images that are up to four times brighter typical of photos shot in dim light. Through the combination of pixel binning and software processing, the AI algorithm adjusts the camera settings automatically when shooting in low light.

LG has also added new features that make photography on the LG G7 ThinQ even more enjoyable than ever. Live Photo mode records one second before and after the shutter is pressed for snippets of unexpected moments or expressions that would normally be missed. Stickers uses face recognition to generate fun 2D and 3D overlays such as sunglasses and headbands that can be viewed directly on the display.

New to the G series, Portrait mode generates professional looking shots with out-of-focus backgrounds. This bokeh effect can be generated using either the standard or Super Wide Angle lens, giving shutterbugs even more creative options.

Easier and Smarter with AI

LG G7 ThinQ will be one of the first devices to get upcoming Google Lens features. Google Lens is a new way to search using the latest in AI and computer vision. Available inside the Google Assistant and Google Photos, it can deliver more information on objects such as landmarks, plants, animals, books as well as identify text. Visit websites, add a business card to contacts, add events to the calendar or look up an item on a restaurant menu ― all right from Google Lens. More details on Google Lens will be revealed at Google I/O.

Located just below the volume is a button that launches the phone’s AI functions. A single tap of this button will launch the Google Assistant while two quick taps will launch Google Lens, a first on any phone. Users can also hold down the button to start talking to the Google Assistant.

With Super Far Field Voice Recognition (SFFVR) and the smartphone’s highly sensitive microphone, the Google Assistant can recognize voice commands from up to five meters away. SFFVR is able to separate commands from background noise, making the LG G7 ThinQ a great alternative to a home AI speaker even when the TV is on. LG customer commands for the Google Assistant have been increased in the LG G7 ThinQ so users can get even more stuff done with their voice alone.

Super Bright Display Outshines the Competition

The first thing customers will notice about the LG G7 ThinQ will likely be the new 6.1-inch QHD+ (3120 x 1440) display sporting a 19.5:9 FullVision screen ratio and a bottom bezel which is almost 50 percent slimmer than on the LG G6. Powered by LG’s new LCD technology, Super Bright Display, the LG G7 ThinQ can be viewed easily even under direct sunlight with brightness up to an industry-leading 1,000 nit, displaying 100 percent DCI-P3 color gamut.

And depending on the type of content, the display can be set to six different viewing modes: Auto, Eco, Cinema, Sports, Game and Expert. In Auto mode, the phone automatically analyses the content of games or photos and optimizes the display and power consumption. The user can fine tune the image even further by adjusting the screen temperature and RGB levels individually.

The smartphone’s New Second Screen gives users flexible options when it comes to setting up the display to fit their tastes and style. The display can be fully expanded for a bezel-less look or it can be set to a more traditional style where the notification bar is completely blacked out. Users can even change the notification bar to another color for a more personal effect.

Unmatched Audio Experience in a Smartphone

Continuing LG’s commitment to deliver unrivalled audio experience on its smartphones, the LG G7 ThinQ offers premium audio innovations that remains unmatched in the industry. Available for the first time in the LG G7 ThinQ, Boombox Speaker utilizes the internal space of the LG G7 ThinQ as a resonance chamber to deliver double the bass of conventional smartphones for powerful “boombox” sound without the need for external speakers. When placed on a solid surface or box, the smartphone utilizes its resonance chamber as a woofer to amplify the bass effect even more.

The LG G7 ThinQ is also the first smartphone to offer DTS:X to deliver virtual 3D sound for all content, up to 7.1 channel audio with earphones. Carrying on the heritage of LG’s focus on great smartphone sound, the LG G7 ThinQ is equipped with a Hi-Fi Quad DAC for incredibly rich sound especially when paired with high-impedance earphones.

“The LG G7 ThinQ is strongly focused on the fundamentals and its launch marks a new chapter for our company,” said Hwang Jeong-hwan, president of LG Electronics Mobile Communications Company. “Through the combination of personalized and useful AI functionalities with meaningful smartphone features, this is LG’s most convenient smartphone yet.”

The LG G7 ThinQ will roll out in the coming days in South Korea followed by major markets in North America, Europe, Latin America and Asia. Price and purchase details will be announced locally closer to the time of availability.

Key Specifications:

Mobile Platform: Qualcomm Snapdragon™ 845 Mobile Platform

Display: 6.1-inch QHD+ 19.5:9 FullVision Super Bright Display (3120 x 1440 / 564ppi)

Memory:

LG G7 ThinQ: 4GB LPDDR4x RAM / 64GB UFS 2.1 ROM / MicroSD (up to 2TB)

LG G7+ ThinQ: 6GB LPDDR4x RAM / 128GB UFS 2.1 ROM / MicroSD (up to 2TB)

Camera:

Rear Dual: 16MP Super Wide Angle (F1.9 / 107°) / 16MP Standard Angle (F1.6 / 71°)

Front: 8MP Wide Angle (F1.9 / 80°)

Battery: 3000mAh

OS: Android 8.0 Oreo

Size: 153.2 x 71.9 x 7.9mm

Weight: 162g

Connectivity: Wi-Fi 802.11 a, b, g, n, ac / Bluetooth 5.0 BLE / NFC / USB Type-C 2.0 (3.1 compatible)

Colors: New Platinum Gray / New Aurora Black / New Moroccan Blue / Raspberry Rose

Others: Super Bright Display / New Second Screen / AI CAM / Super Bright Camera / Super Far Field Voice Recognition / Boombox Speaker / Google Lens / AI Haptic / Hi-Fi Quad DAC / DTS:X 3D Surround Sound / IP68 Water and Dust Resistance / HDR10 / Google Assistant Key / Face Recognition / Fingerprint Sensor / Qualcomm Quick Charge™ 3.0 Technology / Wireless Charging / MIL-STD 810G Compliant / FM Radio

For more information, contact:
LG Electronics Pakistan
Corporate Office
ST-8, 4th Floor, Tower-A, Technology Park,
Main Shahrah-e-Faisal,
Karachi
Representative Phone Number: +92 (0) 21 32787452
FAX: +92 (0) 21 3278 7463
Web: http://www.lg.com/pk

FPCCI meeting with Prime Minister and Finance Minister tomorrow on Budget Anomalies

Karachi, May 07, 2018 (PPI-OT): A delegation of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI)led by the President Ghazanfar Bilour and Syed Mazhar Ali Nasir, Senior Vice President, FPCCI will hold a meeting on Tuesday, May 8, 2018 with the Prime Minister of Pakistan, Shahid Khaqan Abbasi and Dr. Miftah Ismail, Federal Finance Minister and discuss the issues and anomalies of the recently announced Federal Budget 2018-19 for their removal expeditiously before the Finance Bill, 2018 is passed by the National Assembly.

Identifying the issues Syed Mazhar Ali Nasir, SVP and Chairman of Budget Advisory Council, FPCCI will be urging the government to resolve the long outstanding issue of GIDC by rationalizing the previous accumulated GIDC dues, within its tenure. He is also urging that the Further Tax on sales to unregistered persons be scaled down from 3% to 1%,originally introduced vide Finance Act, 2013 as it is a root cause of flying invoices.

Syed Mazhar Ali Nasir will also be proposing that the final Tax Regime (FTR) status of Commercial importers be restored and the tax paid at import stage @ 6% U/S 143B of ITO 2001 be considered as full and final discharge of their tax liability. Regarding refunds Syed Mazhar Ali Nasir will impress upon the government to finalize the mechanism of payment of all pending refund claims of all Federal and local taxes and duties, within three months, in consultation with FPCCI, to save the exporters from liquidity crunch.

Syed Mazhar Ali Nasir informed that he would also request to remove the anomaly of the Circular # 14 of Oct 6, 2011 which specifies that if the unit is located in the affected area and sale is made out of affected area, is not exempted from Income Tax. However, If unit is out of affected area and sale is made in affected areas then it is exempted from Income Tax as it has created disharmony and confusion amongst the businessmen of the KPK Province.

For more information, contact:
Secretary General
Federation of Pakistan Chambers of Commerce and Industry (FPCCI)
B-1, Federation House, Main Clifton Road,
Shahra-e-Firdousi,
Karachi-75600, Pakistan
Tel: +92-21-35873691, 93-94
Fax: +92-21-35874332
Email: info@fpcci.com.pk
URL: www.fpcci.com.pk

Engro Foods Sukkur Wins ‘Golden Quality Certificate’ by Royal Friesland Campina

Karachi, May 07, 2018 (PPI-OT): Royal Friesland Campina (RFC) – the parent company of Engro Foods Limited (EFL), awarded the Sukkur plant the ‘Golden Quality Certificate’. The Golden Quality Certificate is awarded to production facilities and organizations which complete 365 days without a quality incident.

Engro Foods Limited ensures strict compliance to national and international standards of quality at all their production sites. The best-practices adopted by the team were recognized through this accolade from the parent company, Royal Friesland Campina – a global leader in the dairy industry. The food-safety and quality-control systems being followed at the plant were given a high score of 93 percent.

On receiving this award, the Chief Corporate and Regulatory Affairs Director of Engro Foods Limited – Naveed Saeed said, ‘We pursue continuous improvements in the quality and safety standards, in accordance with the global benchmarks in the industry. Engro Foods Limited strongly believes in safeguarding the health of its consumers and the public at large. Winning this Golden Quality Certificate is an acknowledgement of the consistent efforts put in by every team-member, and another feather in the cap of Engro Foods. We are committed to live up to this new stature, over the coming years, through a company-wide pledge for quality assurance.’

Engro Foods believes in sustainable growth and social-responsibility, in every endeavour, while giving top priority to safety, quality and innovation, at every phase of production and operations. Being the market leader, the company strives to set the bar higher, for the Pakistani industry, to nurture more competitiveness at national and international levels.

An elegant ceremony was held in Sukkur, where RFC’s Regional Director, Supply Chain – Cathy Mu presented the Golden Quality Certificate to Engro Foods Ltd., on behalf of the Chief Executive Officer of RFC – Hein Schumacher. The prestigious certificate was received by the Technical Director – Imran Ahmed, Corporate Quality Assurance Manager – Adnan Ishtiaq and General Manager Manufacturing – Aamir Muneer who represented Engro Foods Limited during the ceremony.

For more information, contact:
Engro Foods Limited
8th Floor, Harbour Front Building,
Marine Drive, Block 4, Clifton,
Karachi, Pakistan
Tel: +92-21-35296000

Zong 4G Now Lets You Gift Bundles to Your Loved Ones

Islamabad, May 07, 2018 (PPI-OT): Zong 4G is always bringing unique packages, customized according to its customer’s needs, all the time. Its Free Whatsapp offer for instance, continues to be a popular one for the same reason. And now, the company is back with another new offer. Zong 4G has launched its ‘Gift a Bundle’ offer, and its getting popular by the minute. With Zong 4G’s unique, Gift a Bundle offer, prepaid customers can simply pay bundle charges on behalf of their friends and family to let them enjoy free resources without needing to recharge their accounts.

How to Use Gift a Bundle Offer

You can gift a bundle to your friends and family by following these simple steps:

Zong 4G Gift a Bundle Offer

Dial *310#

Select ‘Gift a bundle menu’

Enter the Zong number on which bundle is to be gifted,

Select the desired product,

Amount would be deducted from the initiator’s account,

Recipient number would get notification of bundle activation.

You may gift as many bundles as per your available balance. You can choose from daily bundles to weekly, even a monthly bundle if you are feeling generous. After activation, the receiver can continue to use the bundle FREE of charge, without any limits, till the continuation of the bundle limit. You may activate this in English, Urdu and Chinese!

For more information, contact:
ZONG
ZONG Headquarters
CMPak Complex, Plot# 47,
Kuri Road, National Park Road,
Chak Shahzad, Islamabad,
Pakistan
Tel: +92-51-111-222-111
Fax: +92-51-111-031-031
Website: www.zong.com.pk