FORTIFICATION AND
SURVIVAL
0800-CDCPL (23275) www.cdcpakistan.com
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 - 74400.
Tel: (92-21) 111-111-500 I Fax: (92-21) 34326031
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Email: info@cdcpak.com
URL: www.cdcpakistan.com
Customer Support Services:
0800 – 23275 (CDCPL)
For Overseas Callers: +92 (21) 34326038
Contents
01
05
Muhammad Hanif Jakhura, CEO-CDC
elected on the Board of Pakistan
Institute of Corporate Governance
(PICG)
EFU Life and CDC sign Memorandum
of Understanding
ITMinds Limited
participates in GITEX
Technology week in Dubai
NOTICE BOARD
CDS UPDATES
02
CDC participates in 18th ACG
Annual General Meeting
and Conference in
Xi’an, China
04
CDC Introduces
eDividend Facility
CDC conducts
Investor Awareness Seminars
in Sukkur and Daharki
Senior Swiss Diplomats
visit CDC
06
Statistical Highlights
2014
Oct-Dec
Issue No. 59
Muhammad Hanif Jakhura, CEO-CDC
elected on the Board of Pakistan Institute of
Corporate Governance (PICG)
The 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.
The 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.
EFU Life and CDC
sign Memorandum
of Understanding
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 was amongst the first
batch of participants who completed the course
conducted by Pakistan Institute of Corporate
Governance (PICG) for Certified Directors in 2007.
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.
Muhammad Hanif Jakhura, CEO – CDC has been
recently elected as a Director on the Board of
Pakistan Institute of Corporate Governance
(PICG). The highest number of votes received by
him reflects the confidence of the corporate
world in the leadership of CDC.
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Mr. Taher G. Sachak, MD & CEO – EFU Life Assurance Ltd.
exchanging MoU deed with Mr. Hanif Jakhura, CEO – CDC
The 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.
CDC participates in 18th 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. The 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. The conference
is a public session comprising of speeches and
panel discussions on issues related to the
theme of that year’s event. The General
Meeting, a member only session, is held for the
prime purpose of voting on key decisions and
issues directly linked to ACG.
The 18th ACG AGM was hosted by the China
Central Depository & Clearing Corporation and
was held in the historical city of Xi’an. The
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 Custodians among
others.
The 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
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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.
The 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
Fast Facts
MoU signing between CDC and MKK Turkey
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•
ACG was formed in 1997.
•
ACG currently has 32 members in 23
countries of the Asia-Pacific Region.
•
For the years 2014-16, 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.
•
The City of Xi’an is known for its legendary
Terracotta Army.
Senior Swiss
CDC introduces
Diplomats visit CDC
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.
The 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 2014. These seminars were
organized particularly in the context of current
regulatory initiatives where subscriptions of CDC
Access SMS and Email 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. The audience were briefed about CDC’s
role, responsibilities and service offerings. The
free-of-cost CDC Access portfolio was also
introduced. Investors were apprised about their
roles, responsibilities and rights as well.
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, 2014.
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. They were also informed about
CDC’s businesses, investor awareness &
cultivation initiatives, IT infrastructure and CSR
activities.
The Swiss delegation greatly appreciated the
efforts of CDC in the development and progress
of Pakistan Capital Market.
The 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. The
next seminar is scheduled to take place at ICAP
Karachi.
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ITMinds Limited
participates in GITEX
Technology week in Dubai
NOTICE BOARD
National Tax Number (NTN) in
the Registration Details of
Corporate Account Holders
[Circular: October 29, 2014]
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. The 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.
Insertion of NTN into CDS as part of registration
details has been made mandatory for Corporate
Accounts. Therefore 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]
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).
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5
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 6.2.6
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, 2014. According to
these amendments, any Sub-Accounts not having
either a local mobile number or an email 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 email 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 email address from the respective
Sub-Account
Holders,
preventing
any
non-compliance related action.
Statistical Highlights
Central Depository System (CDS)
as of December 31, 2014
Type of Elements
685
Issuers
613
Participants / Account Holders
95
Pledgees
Breakup of Securities
637
Ordinary Shares
118
TFCs / Sukuk
37
Open End Units
17
Preference
Shares
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6
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List of Securities Declared Eligible for CDS
S.No.
Security Name
Notice Date
Eligibility Date
Debt Instruments
02 Oct, 2014
03 Oct, 2014
1
Al Baraka Bank (Pakistan) Limited
2
Askari Bank Limited
Debt Instruments
03 Oct, 2014
09 Oct, 2014
3
Allied Rental Modaraba - LoR
Right Renounciable
15 Oct, 2014
16 Oct, 2014
4
The Crescent Textile Mills Limited
Right Renounciable
20 Oct, 2014
21 Oct, 2014
5
Gul Ahmed Wind Power Limited
Right Renounciable
22 Oct, 2014
23 Oct, 2014
6
Aruj Industries Limited
Right Renounciable
23 Oct, 2014
24 Oct, 2014
7
International Knitwear Limited
Right Renounciable
05 Nov, 2014
06 Nov, 2014
8
Safe Mix Concrete Products Limited
Right Renounciable
07 Nov, 2014
10 Nov, 2014
9
Javedan Corporation Limited
Right Renounciable
07 Nov, 2014
10 Nov, 2014
10
Y. B. Pakistan Limited
Right Renounciable
14 Nov, 2014
17 Nov, 2014
11
Fauji Fresh n Freeze Limited
Right Renounciable
17 Nov, 2014
18 Nov, 2014
12
National Investment Trust Limited
Ordinary Shares
17 Nov, 2014
18 Nov, 2014
13
Quice Food Industries Limited
Right Renounciable
26 Nov, 2014
27 Nov, 2014
14
Systems Limited
Ordinary Shares
08 Dec, 2014
09 Dec, 2014
15
Synthetic Products Enterprises Limited
Ordinary Shares
10 Dec, 2014
11 Dec, 2014
16
Sindh Modaraba Management Limited
Ordinary Shares
15 Dec, 2014
16 Dec, 2014
17
Shabbir Tiles and Ceramics Limited
Ordinary Shares
31 Dec, 2014
01 Jan, 2015
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Security Type
7
List of Securities Inducted into CDS
S.No.
Security Name
Security Type
Live Date
23 Oct, 2014
1
Engro Fertilizers Limited - Sukuk Certificates (4th Issue)
Debt Instruments
2
Al Baraka Bank (Pak) Limited - Sukuk Certificates
Debt Instruments
Awwal Modarba Management Limited
11 Nov, 2014
3
4
Askari Bank Limited (PPTFC-V)
Ordinary Shares
18 Nov, 2014
5
National Investment Trust Limited
6
Systems Limited
7
Sindh Leasing Company Limited
Debt Instruments
19 Nov, 2014
Ordinary Shares
04 Dec, 2014
Ordinary Shares
19 Dec, 2014
Ordinary Shares
29 Dec, 2014
Security Type
Delist Date
List of Securities Delisted from CDS
S.No.
Security Name
1
Orix Leasing Pakistan Limited - TFC 2nd Issue (30-06-11)
Debt Instrument
21 Oct, 2014
2
Engro Corporation Limited - TFC (30-09-11)
Debt Instruments
3
Pakistan Mobile Communication Limited - TFC (7th Issue)
04 Nov, 2014
4
Escorts Investment Bank Limited - TFC (15-03-07)
Debt Instruments
27 Nov, 2014
5
Bank Al Habib Limited - TFC (2009)
Debt Instruments
15 Dec, 2014
6
United Bank Limited - TFC (08-09-2006)
Debt Instruments
18 Dec, 2014
Debt Instruments
19 Dec, 2014
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Credit of New Issues / Offer for Sale
S.No.
Security Name
Issue Type
Security Type
Apply Date
Ordinary Shares
Oct 14, 2014
1
Engro Powergen Qadirpur Limited (Book Building)
Offer For Sale
2
Engro Powergen Qadirpur Limited (General Public)
Offer For Sale
Ordinary Shares
Oct 22, 2014
3
Engro Fertilizers Limited - Sukuk Certificates (4th Issue)
New Issue
Debt Instruments
Oct 22, 2014
4
Albaraka Bank (Pakistan) Limited - Sukuk Certificates
New Issue
Debt Instruments
Nov 10, 2014
5
Awwal Modaraba Management Limited
New Issue
Ordinary Shares
Nov 17, 2014
6
Askari Bank Limited (PPTFC-V)
New Issue
Debt Instruments
Nov 18, 2014
7
Saif Power Limited
Offer for Sale (Book Building)
Ordinary Shares
Dec 05, 2014
8
Saif Power Limited
Offer for Sale (General Public)
Ordinary Shares
Dec 09, 2014
9
Allied Bank Limited
Offer for Sale
Ordinary Shares
Dec 23, 2014
10
Sui Southern Gas Company Limited - Certificate of Leasing
New Issue
Debt Instruments
Dec 31, 2014
Credit of Shares / Certificates against Right Issue / Further Issue
S.No.
Security Name
1
Treet Corporation Limited
2
Gul Ahmed Wind Power Limited
3
TRG Pakistan Limited - Class 'A'
4
Fauji Fresh n Freeze Limited
5
KASB Modaraba
6
NRSP Microfinance Bank Limited
7
Cherat Cement Company Limited
8
Y. B. Pakistan Limited
9
Pak Elektron Limited
10
Bankislami Pakistan Limited
11
Engro Corporation Limited
12
Bank Alfalah Limited
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9
To
Effective Date
Further Issue
Oct 28, 2014
Right Issue
Nov 07, 2014
Right Issue
Nov 10, 2014
Right Issue
Nov 10, 2014
Right Issue
Nov 17, 2014
Right Issue
Dec 01, 2014
Right Issue
Dec 17, 2014
Right Issue
Dec 23, 2014
Right Issue
Dec 24, 2014
Right Issue
Dec 31, 2014
Further Issue
Dec 11, 2014
Further Issue
Dec 23, 2014
Credit of Unpaid Rights
S.No.
Security Name
Apply Date
1
Cherat Cement Company Limited
Oct 01, 2014
2
KASB Modaraba
Oct 02, 2014
3
Pak Elektron Limited
Oct 20, 2014
4
Gul Ahmed Wind Power Limited
Oct 31, 2014
5
Aruj Industries Limited
Nov 05, 2014
6
Allied Rental Modaraba
Nov 17, 2014
7
International Knitwear Limited
Nov 17, 2014
8
The Crescent Textile Mills Limited
Nov 20, 2014
9
Javedan Corporation Limited
Nov 21, 2014
10
Fauji Fresh n Freeze Limited
Nov 25, 2014
11
Y. B. Pakistan Limited
Dec 02, 2014
12
Quice Food Industries Limited
Dec 04, 2014
13
Aisha Steel Mills Limited
Dec 20, 2014
Detail of Partial Conversion and Cancellation
S.No.
1
Security Name
Aisha Steel Mills Limited (Ordinary & Pref. Shares)
Apply Date
Oct 13, 2014
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Credit of Bonus Issue
Security Name
S.No.
% of Bonus Declared
Apply Date
1
Security Papers Limited
19%
Oct 01, 2014
2
East West Insurance Company Limited
9.5%
Oct 24, 2014
3
IBL HealthCare Limited
28.5%
Nov 18, 2014
4
The Searle Company Limited
38.0%
Nov 19, 2014
5
Gul Ahmed Textile Mills Limited
23.75%
Nov 24, 2014
6
Shezan International Limited
9.5%
Nov 25, 2014
7
Suraj Cotton Mills Limited
10%
Nov 27, 2014
8
Mari Petroleum Company Limited
19.0%
Nov 27, 2014
9
Habib Asset Management Limited
15%
Nov 27, 2014
10
First Paramount Modaraba
9.5%
Nov 28, 2014
11
East West Insurance Company Limited
Remaining 5%
Dec 02, 2014
12
The Searle Company Limited
Remaining 5%
Dec 19, 2014
13
IBL HealthCare Limited
Remaining 5%
Dec 19, 2014
14
Gul Ahmed Textile Mills Limited
Remaining 5%
Dec 29, 2014
Detail of Change of R/TA (Listed & Unlisted)
S.No.
Security Name
1
The United Insurance Company Limited
2
Metropolitan Steel Corporation Limited
3
IGI Life Insurance Limited
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From
To
Effective Date
Shares & Corporate Registrar Services Limited
F.D Registrar Services (SMC-Pvt) Ltd
Oct 01, 2014
Self
Hameed Majeed Associates (Pvt) Ltd
Oct 24, 2014
THK Associates (Pvt) Limited
Famco Associates (Pvt) Ltd
Dec 29, 2014
Investor Account Services (IAS)
109
5,071
Islamabad
8,202
242
Lahore
37,455
1,105 Karachi
Individual Investor Accounts
Corporate Investor Accounts
as of December 31, 2014
Number of Accounts
52,184
Number of Securities (in Billion)
45.797
Activations (for IAS Customers)
as of December 31, 2014
No. of IAS A/C
Activation of Web / IVR
Activation of SMS
52,184
25,832
35,561
The
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KSE & CDS Summary
as of December 31, 2014
557
Listed Companies at KSE
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)
1.168
33,000
111.81
32,000
247.91
82.05
7,380.531
Market Capitalization in KSE (in Billion)
Market Capitalization of shares in CDS (in Trillion)
4.351
Percentage of shares in CDS w.r.t. Share Capital *
85.88%
* Excluding GoP holding
Month
Closing
Ready
(No. in Million)
July
2,297.59
Future Contract
(No. in Million)
Market Cap.
(Rs. in Million)
291.87
7,120,673.59
August
2,691.58
364.39
6,726,928.83
September
3,470.43
508.66
6,914,097.48
October
3,691.08
379.24
7,033,698.67
November
4,701.90
476.32
7,152,183.26
December
5,621.23
708.621
7,380,531.74
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31,000
30,000
32,131.28
Source: KSE Quotation
31,197.98
30,314.07
30,376.53
29,726.39
29,000
28,567.74
28,000
27,000
26,000
July
World Market Indices
Shares traded at KSE during last six months
Turnover of Shares
KSE 100 Index during the last six months
Index
August
September
October
November
Value as on December 31 2014
BSE SENSEX
27,499.42
S&P/ TSX Composite
14,632.44
FTSE 100 (London)
6,566.09
NIKKEI 225 (Tokyo)
17,450.77
DAX (Frankfurt)
9,805.55
CAC 40 (Paris)
4,272.75
ALL ORDINARIES
5,388.60
HANG SENG (Hong Kong)
23,605.04
Source: Google Finance
December
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