Professional Documents
Culture Documents
Board of Directors History, Background, the quality of its lease portfolio which
Principal Activities etc. not only resulted in recovering the past-
Lt. Gen. (R) Imtiaz Hussain due principal amount but also earned
Chariman past-due lease income. On the other
Askari Leasing Limited (the Company)
Mr. Abdul Waheed was incorporated and domiciled in hand, the management minimized the
CEO Pakistan as a Public Limited Company controllable general and administrative
on August 1, 1993. The company is expenses in order to ensure efficient
Maj. Gen, (R) Saeed Ahmad Khan controlled by Army Welfare Trust (AWT) use of scarce resources.
Director which owns 57.66% of the Companys
shares. The Company is listed on the During the year under review, the return
Brig. (R) Syed Azhar Raza on the average lease investment
Director Karachi, Lahore and Islamabad stock
exchanges and principally carries on portfolio was 14.92% whereas the
Mr. Zafar Alam Khan Sumbal the business of leasing. same was 12.95% during the last year,
Director an increase of 15%. Conversely, the
The company has its sole focus on average cost of funds was 12.32%
Mr. Agha Ali Imam consumer auto leasing, corporate and which was 10.24% last year, an
Director unit level financing on stand alone basis increase of 20%. The volatile interest
and leasing of consumer goods. rate has always been a limiting factor
Mr. Manzoor Ahmad and bottleneck for the Leasing
Director Company has produced enough
resources to effectively finance its Companies however, the generation
Mr. Khawaja Muhammad Ilyas leasing operations, including funds of fixed rate COIs and better cash flow
Director through Bank Borrowings and management has invariably acted as
Certificate of Investment (COI), so as an effective hedge and shield for the
Ms. Nargis Ghaloo to mitigate the credit risk to minimal. Company.
Director These Funds have been deployed in
a well diversified lease portfolio. The Subsequent to the year end, the
Company is strongly committed to company has been granted approval
develop strong base through its lease by its shareholders to merge with and
products and to fulfill the need ranging into AKBL subject to approvals of SECP
across a multi-dimensional economy. and SBP, which are being awaited.
Performance Highlights
2008 2009
The financial results for the year ended
June 30, 2009 reveals the highest ever
profit and delivering maximum returns
to the shareholders despite of
threatening economic meltdown and
bigger challenges. The success of the
Company is attributable to the hard
work, clarity in vision, team work,
proactive attitude, out of box thinking,
the spirit to exploit the strengths and
overcoming challenges and last but
not the least the support and patronage
provided by the stakeholders through
the year.
50
PAKISTAN LEASING
Year Book 2009
Balance Sheet Rs. in million
Balance Sheet Growth
Rs. in million
Equity Growth
51