One more Asian billionaire every other day: UBS study finds

According to a study by UBS and PwC a billionaire in Asia is created every other day. Total billionaires in Asia are 637 as compared to 563 in U.S. The study further says that a 17% surge in billionaire wealth is supported by new billionaires born in Asia as well as an uptick in growth in materials, industrial, financial and technology sectors.

The total billionaire wealth has increased from USD 5.1 trillion to USD 6 trillion in 2016.

Billionaires from United States owns 2.8 trillion USD, an increase of .4 trillion dollars. Combined wealth of Asian billionaires grew from 1.5 trillion dollars to 2 trillion USD. Combined total wealth of 342 European billionaires was 1.3 trillion USD.

The study also mentioned that if the current trend continued, it is likely that Asian billionaires would overtake U.S. billionaires in wealth in four years. The surge in billionaires’ population in Asia can be attributed to growth in China and India, which have 318 and 100 billionaires respectively.

The report further points to increasing role of networks in raising capital outside financial markets which is no surprise, given the increasing role of Asian businesses which feels comfortable going to family rather than capital markets for funds.

Europe, the report says, in 2016 was the story of multigenerational wealth preservation. The number of billionaires in Europe was 342, by the end of the year.

The business controlled by these billionaire employees 27.7 million people, which is roughly the size of U.K. workforce.

Baby shark method: the secret of many successful retailing giants

Albert Gubay, the late billionaire, from humble beginning established United Kingdom’s most successful supermarket chain Kwik Save.

It started, in 1959, when he founded value foods. His aggressive price cuttings lead many distributors and suppliers to refuse him.

In 1964, he visited United States learning from there a technique which helped him built his retailing chain. Sooner his Value Foods changed to Kwik Save, a discount retailer chain boosting more than 1000 stores. The growth of his business was a direct result of his use of baby shark method.

In this method the retailer purchases goods on good payment terms, say for example, 60 or 90 days and then sell these items at or below costs. The interest on cash generated by the sale is then used to expand retailing business.

The interest on trade credit is received in form of discount. By selling these items he generated cash for expansion at the same time being able to pay suppliers when the payments became due. This method is a sort of OPM, other people’s money.

The use of baby shark method, along with other cost cutting methods learnt from West German retailing giant ALDI, he founded the empire consisting of hundreds of outlets. In 1973, he sold Kwik Save for £14 million, the first step to amass his £500 million fortune.

ALDI, the giant German retailer was using this method much before Gubay copied it. In fact, ALDI was where this method of retailing was perfected. Today ALDI owns more than 10000 stores in 18 countries, with total turnover of 50 billion €.

Cherat Cement announced expansion plan

Cherat Cement, on Monday, announced it would install a third cement production line at its existing site in Nowshera. Cement manufacturers are announcing expansion plans in the wake of growing cement demand.

CPEC is expected to generate additional cement demand of 1.5-3 million tons per annum

The new plant is expected to have an annual production capacity of 2.1 million tons, taking the company’s total output to 4.5 million tons a year. The company’s total production capacity is about 10% of the current installed production capacity in Pakistan.

The company was already working on its second production line, expected to have capacity 1.3 million tons. This plant is expected to come online in the second half of fiscal year 2016-17.

Cherat Cement Company Limited (CHCC) was established in 1981. CHCC started manufacturing, marketing and sale of Ordinary Portland Cement in 1985. At that time, the company had the production capacity of 1,100 tons per day, which was increased to 3,300 tons per day in 2005 after subsequent up gradations earlier.

The company supplies cement to the northern block; Punjab, KP, FATA and adjoining areas and exports its cement to Afghanistan and Indian Punjab. The company’s plant is strategically located, about 52 kilometers away from Peshawar, near the Pak Afghan border and this proximity to the border allows for lower distribution costs than its competitors.

Cherat Cement’s latest expansion plan will be entirely financed by debt, costing close to Rs13 billion, according to JS Research. This production line may become operational by year 2020. The company also intends to bring another Waste Heat Recovery along with the new line, according to the JS Research report.

The establishment of its first Waste Heat Recovery (WHR) in 2010, a Tyre Derived Fuel Processing Plant in 2012 and a Refuse Derived Fuel Processing Plant in 2013 helped company achieve fuel efficiency—now company is deriving more than one-third of its energy free of costs.                                                                                                            

Growing international demand for Paksitani halal food

Keeping in view the growing international halal food market, Fauji meat limited has set up 75 million USD halal abattoir and meat processing plant, in Karachi.  This 47 acre spread facility has daily production capacity of 100 ton meat, of which 85 tons would be beef, in both chilled and frozen categories.

Halal food is the one which is prepared and is hygienic, in accordance with the principles of Sharia.

The demand for halal products is growing at a 10.8% annually, and is expected to reach 3.7 trillion dollars till 2019. Halal food makes up the largest share of this halal products industry.

Pakistan, is ideally located, to take benefit of this opportunity as consumers in gulf countries have huge liking for Pakistani halal stuff, especially the meat.

With 2nd largest buffalo and 8th largest cattle herd, Pakistan is endowed with valuable live stock. In mutton category Pakistan has 4th largest goat herd and has 9th largest number of sheep in the world. India, situated at the border, has earned more than 4.7 billion dollars from exports of buffalo meat in the fiscal year ended in 2015.

FPCCI president Abdul Rauf Alam, while talking to a private newpaper, said that world leading suppliers for halal products including high quality meat, poultry, dairy products and other foods are Australia, Brazil, Canada, Indonesia, India, Malaysia, Philippines,  Thiland, New Zealand and United States. He further added that USA and Australia are biggest halal beef exporter while Brazil and France are the largest halal poultry meat exporter in the Middle East.

Thailand has become 5th largest global halal food producer.

With more than 700 billion dollar market size halal food is expected to attract 2 billion consumers, both Muslim and non-Muslim.

Global market size for halal food is more than 700 billion U.S. dollars

Businesses around the world have started producing halal food to reduce costs. The daily Mail online in this report said that many major Supermarket chains and restaurants, in U.K., sell halal meat to keep their costs low as it can be eaten by both Muslims and non-Muslims alike

Fauji meat is eyeing lucrative foreign markets but equally important is to market these branded and packaged products to domestic consumer as well. This will not only be good for Fuji meat in long term but also for Pakistan’s halal meat industry.

Using customers' money for your startup

Beijing has the world’s costliest rental housing, according to a survey of 15 global cities, with average prices more than 1.2 times average salaries, says a report by the Global Cities Business Alliance, a UK-based not-for-profit organization. The rise in rent, in developing countries like China, India, and Pakistan, has provided developers an opportunity to make money out of thin air.

What they do is to purchase a piece of land and then announce construction of residential plaza or shopping mall over it. Advance booking is announced for residential and commercial units. The advance money collected is then used for completing the project. Unheard in many developed countries, realty development is one of the most lucrative areas for investors.

The use of customers’ money for growth isn’t limited to realty sector only; entrepreneurs can use this method to grow their startups in other areas as well. Take the example of TutorVista, which successfully leveraged this customers’ money model of financing. It started when Krishnan Ganesh hired three teachers and provided them with VoIP internet connection, PC displaying a digital whiteboard along with webcam. It quickly became a 100$ per month tuition service.

Dell is another example of customer funded business. Michael Dell, founder of Dell, started by selling customized PCs to small businesses. The core percept in his business was to collect cash before having to lay out money on chips and computers to be sold. 

Customer funding provides many benefits to the startups. Usually, startups receive higher valuations if they performed successfully for an extended period of time, without external funding. Additionally, strong cash inflows, from customers, allow entrepreneurs to focus on proving business model rather than wooing investors.

In this model of business funding, balance sheet shows more current liabilities than current assets. In accounting term it is called negative working capital. Ironically positive working capital is assumed to be good as it poses less insolvency risk to the business.

Not every startup can be run using customers’ funding. Capital intensive projects need to rely on traditional way of financing. 

The nation of ship-owners

No nation has ever been so much successful in maritime industry as this nation. Today 95 % goods are carried through ships and shipping magnate from this nation owns 23% of the world bulk carriers.

95% of merchant goods are carried through ships

The fleet belonging to wealthy of this nation is valued at 105 billion dollars, according to vesselvalues.com. The combined value of global fleet of vessels is 680.4 billion dollars. Hence the maritime nation owns 15.43% worth of global fleet. 

The maritime nation is no other than Greek, who have been fighting severe debt crisis since 2009. Severe Government debt crisis has caused many Greeks to lose their jobs. The unemployment rate is as high as 25.40% for February 2015. But the families involved in shipping business are spending as if there were no crisis.

Ship owning business is part of Greek culture. Owing to mountainous landscape, limited availability of farming land and extended coastline, Greek, at an earlier stage, turned to maritime business. Furthermore Greece, being situated at crossroads of ancient sea lanes in eastern Mediterranean and proximity of other advanced civilizations helped Greek succeed in this business. New evidence suggest that since ancient times wine, oil and honey were traded, as well as fruit, fish, meat and resin by Greek ship owners.

The majority of these maritime companies are run by families with a long tradition in shipping.

There are 800-900 families involved in this business, leading among them are Onassis, Niarchos, Evgenidis, Latsis, Lemos, Laskaridis, Pateras, and Tsakos families.

Today constitutional protection related to taxation provided to ship owners and geographical factors led the ship-owning families to live like landed aristocrats of medieval times. Like aristocratic families ship-owning families have their own family culture, and a thrust to protect their status in Greek society. These families often inter-marry thus multiplying power and wealth of these families.

These 800-900 families, involved in Ship-owning business, own slightly more than 4000 vessels.  Hence per family average ownership comes to 4.7 vessels. Families in Greece along with Spain and Italy are more cohesive than many other European counterparts. Hence the help and support from family is also an important factor in the success of Greece's maritime business.

These rich families, although are accused of not doing enough for Greece; especially during the time of crisis, are also involved in philanthropy. Foundations bearing the names of the rich maritime families like Onassis foundation are highly involved in charity.

Growing importance of Sovereign Wealth Funds (SWFs)

Surplus wealth of many oil rich countries is managed by SWFs

Sovereign Wealth Fund (SWF) is state owned pool of money invested in various financial assets.  This investment fund is established by current or capital balance of payment surplus and budget surplus. Sovereign wealth funds can be distinguished from foreign exchange reserves. Sovereign wealth funds aim to maximize long-term returns while foreign exchange reserves promote short term currency stability. Recent years has seen a rapid rise in number of sovereign wealth funds. Rise in oil and gas prices led this rapid surge.

The primary purpose of SWF is to diversify economy and generate wealth for future generations.

Sovereign wealth funds invest in various financial assets

SWFs can be categorized in two types depending upon their financing.

1.       Commodity

2.       Non commodity

Commodity funds are those financed by commodity exports, the most common of which is oil export. This type of fund is usually set up by those economies that are dependent on single commodity exports. When the price of commodity in international market rises the exporting nation will see greater surplus. Conversely when export driven economy sees the fall in commodity price it faces a huge current account deficit. Therefore a sovereign wealth fund is established to stabilize the economy by diversifying the country’s wealth in other industries.

Non commodity funds are those financed through surplus foreign currency reserves.

Political motives

Sovereign wealth fund may have political/strategic motives like gaining control of strategic industries for political reasons. Many politicians criticized the investment by SWFs as security risk. On January 15th, 2008 Hillary Clinton said: “We need to have a lot more control over what they [sovereign-wealth funds] do and how they do it.” The huge size of these funds can make an impact on global economy. Some experts claim that all these funds combined to hold 5 trillion dollars in assets in 2012.

Extension of state

These funds can be thought of as extension of state therefore they are not necessarily driven by profit and loss. Hence these funds can act as a tool of Government policy.

As Arab countries faced the problem of food inflation their Governments started to negotiate for land lease through these sovereign wealth funds. This land will be used to produce food which then will be exported back to the investing country. This investment is in fact resource seeking instead of market seeking. Land grabbing by these institutional investors in Africa and Asia has occurred often to the prejudice of local population. Investing in agribusiness helps investors take control of not only producing but also of distributing the produce.

Saudi merchant families

Saudi Arabia is rich in oil and is the largest oil exporting country. It has 19^th largest economy. It has many merchant families involved in commerce for many decades and their wealth can rival that of house of Saud. In the pre oil era, these families provided financing to the royal family for running the affairs of state. Later on when oil was discovered these families were rewarded for their loyalty to house of Saud. They were given important development contracts.

List of wealthy family along with short introduction is given as follow.

Alireza

The house of Alireza is the oldest family business in Saudi Arabia. The business history of the family spans more than 150 years. The business of Alireza family includes retailing, travel agency services, manufacturing and distribution of aviation fuel, operating of shipping and freight terminals and real estate.

Ba Khashab

Ba Khashab family is involved in providing logistic services. This family owns the largest transporting business in the kingdom. Besides transport the family has distributorship of ISUZU commercial and passenger vehicles.

Bin Laden 

Osama B. Laden famous terrorist belonging to Bin Laden family

Bin Laden family is renowned for its business connections across the globe. Saudi Bin Laden group is largest construction firm in the world. Recently the contract for the construction of Kingdom Tower in Jeddah has been signed. Kingdom tower is planned to be the world’s tallest building.

Al Gosaibi family

Al Gosaibi family is one of the leading merchant families of the Middle East. Its business is diversified and includes oilfield services for ARAMCO, interests in banking, insurance, shipping, trading, stevedoring and manufacturing.

Jamjoom family

Jamjoom family is a prominent Saudi trading family in GCC and African region. The industries in which the family has stakes includes pharmaceuticals, Medical equipment and supplies, vehicles, hotels, food, writing instruments and stationery, toys, perfumes, skin care, fashion and metal industries.

Juffali Family

Juffali Group is the largest business house in Saudi Arabia. Al Juffali family is currently worth 19.8 billion dollars according to list of Arabs by net worth. Today the family business is looked after by sons of Ahmed Juffali, Ebrahim and Ali.

            

Olayan family

Olayan group is founded by Sulaiman S. Olayan and now it is managed by his sons and daughters.  The group has activities in trading, food processing and restaurants, construction, cleaning products, paper, plastic and fiber and office equipment. The Olayan family invests across the globe and is thought to own more than 10 billion dollars.

AL Rajhi

Al Rajhi family owns the Al Rajhi bank, which is the largest Islamic bank in the world.  Al Rajhi family is now the richest non royal Saudi family.

Al Sulaiman family

Al Sulaiman family is involved in different areas of industry, real estate, and trade. Ghassan Ahmed Al Sulaiman is the sole owner of IKEA Saudi Arabia.

Survival of family firms

List of Hundred oldest companies have been published. You can view it here. Many of the companies in the list are more than 3 centuries old. The oldest firm is more than 1300 years old and it is from Japan. Family-run firms contribute up to 90 percent of the world's economy. Many countries' economies are highly dependent on family businesses, including Germany, the U.K. and Singapore. Leading student of capitalism always mentioned that with the advent of industrial capitalism family firms will disappear. For much of the previous century they proved right but now many family firms are defying their predictions.

This trend can be seen in number of family firms among fortune 500 companies. Family companies in fortune 500 companies have risen from 15% in 2005 to 19% this year. This trends show the rising importance of family firms. This rise can be largely attributed to rise of emerging economies. In emerging economies the institution of family is still strong. For example in India there is joint family system which successfully survived many centuries. Same is the case in many Arabian countries where dynasties are not only ruling in the business world but also in the political world. In Europe same trend can be witnessed as nearly 40% of listed companies are controlled by families.

Unlike the past now family firms groom their successors to manage effectively. They put them in tough and long series of experiment. Young one has to work from most humble position to the highest position available in the family firms.  This reduces the chances of management falling in wrong hands.

Like old money landlord families, before the advent of industrial capitalism, many of the family firms today transferred the family values which help them keep the family wealth in family hands. Inter-cousin marriage, which is common in many emerging economies, helps transfer the shared values to next generation. Another factor which let the family companies survive is the availability of entire consulting industry to plan succession and tackle the inheritance problems.  

Now the family firms are not only taking care of family fortune but also families’ human capital as well. Rich and old money families educate their young ones in best business institutions. Competition among family members further keeps the family members pressurized to perform the best.

According to wealth reports the largest transfer of wealth from one generation to another is going to happen in coming years. The control of huge fortunes may transfer hands. Many people will become millionaire without working their way to riches. This can bring back the old aristocratic age when people advanced in their lives on the basis of heredity status, rather than hard work and merit.

Cybersecurity Billionaire Ashar Aziz Butt

Ashar Aziz Butt is founder, CTO and chief strategy officer of cybersecurity firm, FireEye. FireEye provides companies with technology and services to protect them against malwares and cyber attacks.
For a short duration Ashar Aziz, being the largest individual shareholder of the company became cybersecurity billionaire. He is the son of Asghar Butt, renowned Editor of the leading daily ‘The Nation’ and a former Pakistani bureaucrat.

Aziz's previous venture was Terraspring, which was later acquired by sun microsystem, a company where Aziz  worked for 12 years. Today Aziz is one of the top experts in internet and computer security. He is the original inventor of the set of technologies used by FireEye.
Owing to his holding in the cybersecrity giant, his net worth in the month of march 2014 jumped slightly more than a billion us dollars, as the share of his company hit 96$. His billionaire status was quickly taken away by a fall in the share price. Recently his company's share lost considerable value. His company's share is currently valued at 27.53$. This makes his net worth at 269.548 million dollars. At present he holds 9,791,096 shares of FireEye Inc.
 His company has acquired another company nPulse Technologies. In January the company acquired Mandiant, a cybersecurity firm based in Alexandria, for $1 billion.
Aziz holds Bachelor's degree in electrical engineering from Massachusetts Institute of Technology and Master's in computer science from University of California, Berkeley. He has one brother named Dr. Ahmer Aziz Butt.

List of some hotel magnates

There are many people who achieved remarkable success in hotel industry and made a fortune out of this industry. Below is the list of some wealthy hotel moguls. Some of them founded hotel chains, some invested in hotels and other inherited hotel empires.
 The list is not in any specific order.

1. Prince Karim Aga Khan. is involved in many businesses including hotel chains, horse racing and breeding operation. Prince Khan has a net worth of $800 million estimated by Forbes magazine in 2010. His holding includes Serena hotels chain, through AKFED.
2. Prithvi Raj Singh Oberoi runs Oberoi group which owns and manages chain of luxury hotels called Oberoi Hotels & Resorts. Pirthvi is the  son of  Mohan Singh Oberoi, founder of Oberoi hotels chain. His net worth, as of October 2012, estimated  by Forbes is $460 million.
3. Sheldon Adelson owns Las Vegas Sands, which operates hotels and resorts around the globe. according to his profile on Forbes magazine he has net worth of $26.5 billion.  
4. William Hilton owns international hotel chain of Hilton hotels. he has a net worth of $2.5 billion.
5. Donald Trump is Chairman and president of The trump organization and founder of trump entertainment resorts. his worth is $3.2 billion in 2013.
6. Mohamed Bin Issa Al Jaber is a Saudi billionaire who owns and invests in hotels through his company JJW Hotels & Resorts.Forbes has put his net worth for the year 2013 at $7 billion.
7. Barbara Carlson Gage  is worth $4.1 billion and owns Carlson inc. along with her sister Marilyn Carlson.
8. Marilyn Carlson Nelson is a co-owner of Carlson Inc. along with her sister Barbara Carlson 
9. Karen Pritzker is a member of Pritzker family, well known for ownership of Hyatt hotel chain and Marmon Group of companies. She has a net worth of $3.2 billion.
10. Anthony Pritzker has a net worth of 3 billion US dollars. He is one of the son of billionaire Donald Pritzker and inherited Hyatt hotel empire.
11. Jay Robert Pritzker is another child of Donald Pritzker. Estimate of his fortune is $3 billion.
12. Kar Po Law 
13. Thomas Pritzker  is another of Pritzker family and Forbes magazine has put his worth as $2.3 billion 
14. Richard Marriott is a billionaire who owns $2 billion. he runs Host Hotels.
15. John Pritzker is another member of wealthy Pritzker family and is co-founder of Commune Hotels & resorts. 
16. Penny Pritzker is another Pritzker family member and has $1.85 billion. She is famous for her political role during election compaign. Presently she is Secretary of Commerce in Obama's cabinet. 
17. Bill Marriott has a net worth of $1.75 billion.He stepped down as CEO of Marriott.
18. Elaine Wynn
19. Linda Pritzker is a heir to Hyatt hotel fortune and is worth $1.65 billion.
20. Dinshaw Avari  is a Pakistani parsi tycoon from Karachi. He along with his family owns and operates Avari hotels. His net worth is estimated to be $410 million according to rich list 2013.
21. Sadruddin Hashwani is a billionaire tycoon from Pakistan. He is the chairman of Hashoo Group which owns Marriott and Pearl Continental hotels in Pakistan. Marriott Islamabad is the first hotel to get Marriott franchise. His net worth in 2010 was estimated to be $1.1 billion.

Related Links
hotel and resort industry

Pritzker family

Prince Karim Aga Khan.

Forbes list

Sadruddin Hashwani

Tycoon once again spells the magic.

Malik Riaz signed an agreement with His Highness Sheikh Nahyan to construct world’s tallest building in Karachi. The project will be worth 45 billion us dollars. Of the total 45 billion US dollars 10 billion US dollars will be invested in Lahore and Islamabad and other 35 billion US dollars will be invested in Sind. In addition to the tallest building sports club, educational and media city will also be constructed. The project also includes construction of miniature of Seven Wonders of the World. Construction project will boost 55industries including cement industry, bricks industry, electrical industry, iron and steel industry and glass industry. The project also encompasses generation of electricity from sea water. According to the statement the project will provide employment to 2.5 million people.

Nahyan is Chairman Abu Dhabi group, which is largest foreign investing group in Pakistan. The group has its investment tin many sectors of the economy. Bank Al Falah, Warid and Wateen Telecom companies etc are some big names that are owned by the Abu Dhabi group. Sheikh Nahyan is also recipient of Pakistani highest civilian award hallal e Pakistan.

Malik Riaz is a Pakistani tycoon who is the founder of Bahria Town. Malik Riaz has completed this project as an example for the country’s real estate developers. As much as 100000 families are dependent on bahria town for their livelihood. He belonged to a business family. At a young age the Business of his family was collapsed and he was forced to start his practical life as a clerk in Military Engineering Service. Then he started his entrepreneurial career as a small government contractor and achieved unprecedented success as a businessman.

Malik riaz is famous for his remarkable quality of maintaining good relations with many important political personalities even when they are at daggers drawn with each other. He also enjoys cordial relationship with many in military and civilian establishment of Pakistan.

Malik Riaz is a great philanthropist as well. He helped flood affectees and provided ransom for the freedom of Pakistani hostages from Somali pirates. 

According to the Newsweek the net worth of the tycoon is around 6 billion us dollars. These days his son takes care of the Bahria Town as its CEO.

Malik Riaz has started and completed many projects ancillary to Bahria Town in collaboration with many international and foreign contractors in order to provide world class residential facilities to the residents of Bahria Town. Malik riaz has brought Thomas Kramer as well as Sultan Nahyaan to invest in Pakistan along with him.

Thomas Kramer is leading global networker and an entrepreneur, who has to his credit major construction projects around the world, including Miami Beach, in USA. He has a net worth of 90 million us dollars. He is working on many large scale projects including a mixed use tower in Germany, mega development project in Brazil including a five star hotel etc.
related link

Wikipedia

jang
the news

Pakistan's Logistic Giant

Agriculture sector contributes a lion share in Pakistan’s GDP. But presently Pakistan’s 40% agricultural produce is lost because of bad logistic infrastructure. And this company is experimenting with ways to provide logistic services to Pakistani agriculture sector with only three to four percent loss.

Starting from four employees, it now has over 400 people as its employs. With 700 customers including many national and multinational companies, it takes care of whole process of logistics including shipping, trucking and warehousing.

The company was started by Abid Butt in 2005, who earlier worked for a French logistic giant Geodis. At that time, in Pakistan, no one was available to provide end to end solution, so initial idea was to provide all services including trucking, warehousing and shipping etc by the same company. This led the company’s name being e2e supply chain management (pvt.) ltd. i.e. end to end supply chain management (pvt.) ltd. In 2011 butt’s company had around 76 million us dollars in annual revenues. The company grew 1918% from 2008 to 2010 and was nominated as Pakistan’s fastest growing private company by AllWorld network in 2012. Initial investment in e2e supply chain management (Pvt.) ltd. was arranged by him and his friend and was 1 million rupees (nearly 20000 us dollars at that time) each.

Company’s founder Abed butt is a LUMS graduate with a major in economics and also holds an MBA from INSEAD. After graduating from LUMS, Pakistan’s leading business school, Abid worked for Maersk. Later on he joined Geodis, and was posted in Paris.

He started his business from Karachi, Pakistan’s industrial and commercial heart. He started his entrepreneurial career by resigning from Geodis, risking a steady career growth. At that time he was making 15000 euros per month.

Related Links

allworld

money matters jang

Acquisition by Abu Dhabi Group

Abu Dhabi group has reacquired 100 percent stakes in Warid Telecom. The group has expanded its operation by buying Singapore telecommunication limited’s share. Earlier According to SingTel, Warid would be sold for a loss of approximately186 million us dollars. SingTel acquired 30 percent shares in warid, in 2007, at the price of 758 million us dollars. 

Warid started its operation, in Pakistan, in 2005. Bashir Tahir led the team for bidding and acquiring license for operating telecom network.

By acquiring 30 percent shares in phone operator the group has become the sole owner of the telecom company. The group has the owner of being single largest foreign investor in Pakistan. Abu Dhabi group already has diverse and huge investments in different sectors of Pakistan’s economy. The group has heavy stakes in banking, agriculture, energy, real estate, hospitality and health care. Investments by the group include Bank Alfalah, Warid telecom, Wateen telecom, Alfalah Securities (Pvt.) ltd, Alfalah GHP investment management limited, United Bank Limited, and Al Razi healthcare.

The group is led by Sheikh Nahayan Mabarak al Nayhan, member of the royal family of Emirate.

Waste Management entrepreneur

Pakistan generates nearly 56000 tons of solid waste daily in urban areas only, and it is increasing at the rate of 2.4% annually. This solid waste is an opportunity for entrepreneurs.

This waste can be recycled, used to produce liquefied petroleum products, or electricity.  There are advanced waste-to-energy conversion technologies that are commercially viable and sustainable. Presently Fauji Cement Company is using municipal solid waste to produce electricity.

Garbage is not only a cheap source of producing electricity but it can also be used to produce fertilizers. It is profitably being converted to fertilizer by an entrepreneur from Lahore.

Asif Farooqi is a green entrepreneur. He is CEO of waste buster, a waste management company. He is the pioneer of the waste management business in Pakistan.

Some years earlier he started with 6 donkey carts that collected waste from house to house. Now his business waste buster has 200 garbage collection vehicle and employees 3000 people. His business is not only about making money but also conserving environment as well.

Mr. Farooqi informed in a report of al Jazeera that what started from six donkey carts has become a business employing three thousand people and all this money is generated from waste. His men collect garbage and other waste from narrow streets of Lahore and deliver to factory through garbage collection vehicles. His waste management plants separate garbage into organic, plastic and metals to produce liquefied petroleum products, and fertilizers for farmlands. 

Asif Farooqi holds masters degree in environmental engineering from northwestern university, USA with specialization in waste management. He has more than 20 years of experience in the field of environmental engineering. His company waste buster is based in Lahore. Many contracts have been won by the waste busters in Karachi and other cities of Pakistan.

 related links.

dawn

south asia investor review

al Jazeera

Saltflow, Inc.

Saltflow, inc. is a conglomerate and has stakes in diverse fields. Saltflow was founded in 2005 by Arif Ayub, a Pakistani national. This group is based in Dubai, UAE.

Saltflow has annual revenues in excess of $570 million annually. Group is involved in a number of fields including construction industry, trade and retail industry, and technology industry. Group has expanded its presence to North America through acquisitions.

Group’s technology business is heavily centered in Russia and controls internet companies primarily targeted at mobile and financials solutions for consumers.

In North America group has stakes in retail and trade sector. Group has invested huge amounts in retail brands and is expecting good returns.

Group also has stakes in construction industry.

Presently group provides employment to more than 500 people.

related link 

Saltflow, Inc.

Success achieved by Pakistani bloggers.

Income diary has a post named ‘20 top blog sales’ that has a list of blogs that were sold for millions. In recent past a name of Pakistani blog appeared in ‘top earning blogs’ on incomediary. According to incomediary Saad Hamid’s blog Sizlopedia was making 11000 us dollars per month.

Blogging has become common in Pakistan and there are many successful bloggers in Pakistan. Recently another success has been achieved in this area by Pakistanis. Gagism.com, a humor blog, co-founded by Farrukh Zafar and Salman Saeed, has been acquired by an Australian firm for rupees 10 million (105000 us dollars approximately).  Presently gagism has a team of 6 members including two founders. 

related link
propakistani

Philosophies that built business empires

Gucci family

“Quality is remembered long after the price is forgotten.” - Gucci Slogan

W Clement Stone
“positive mental attitude” and “others people money”

Dhirubhai Ambani  

“Profit we share and all loss will be mine”

Maria b

“Provide fashion with affordability”

Sir Richard Branson

"Have fun and the money will come."

Stephen Jarislowsky

“Do no not behave like others when you are not convinced by them.”

Kazuo Inamori

“Make employee happiness the primary job of corporate management”

Sam Walton's 10 Commandments
1. Commit to your business.
2. Share your profits with your associates and treat them like your partners.
3. Energize your colleagues.
4. Communicate everything you possibly can to your partners.
5. Appreciate everything your associates do for the business.
6. Celebrate your success.
7. Listen to everyone in your company.
8. Exceed your customers' expectations.
9. Control your expenses better than your competition.
10. Blaze your own path.

List of high valued websites owned by Pakistanis

Pakistanis are doing a great job online. There is huge internet population. Here is list of some Pakistani websites that are worth more than 100000 us dollars.

1. Rozee.pk job portal for Pakistanis. It was started by Monis Rehman. He started it to hire workers for his other website naseeb.com. Now many multinationals use rozee.pk to hire employees.
2. Choopal.pk it is world’s first group sms service started by student of LUMS. Choopal.pk is expanding and becoming more and more popular.
3. TradeKey.com. it is world’s fastest growing online business-to-business marketplace. It was founded in 2005 and now has a member base of 5.7 million businesses and welcomes visits of 9.5 million buyers and sellers each month.
4. Ilmkidunya.com its estimated worth according to websiteoutlook is 104346 us dollars.
5. Hamariweb.com it is another website by Pakistanis. It gets nearly 200000 page views per day. According to websiteoutlook it has worth of nearly 450000 us dollars.
6. Jang.com.pk one of the most visited websites in Pakistan. Jang.com.pk is owned by jang group and has estimated worth of nearly 1600000 us dollars.
7. Pakwheels.com this is the place for selling and buying cars. Its worth is estimated to be 299380 us dollars while its estimated earning according to websiteoutlook is nearly 410 us dollars daily i.e. 36000 rupees.
8. Express.com.pk online copy of express newspaper. It has been estimated to be worth 1 million us dollars and its estimated earning per day stands at 1463 us dollars i.e. 127000 rupees.
9. Songs.pk is Pakistani one of the highest valued website as it is a music site. It’s estimated worth is 2.95 million us dollars while its earning has been estimated to be 4046 us dollars i.e. 352000 rupees per day.
10. Olx.com.pk has been estimated to worth 764215 us dollars and has estimated earning of 1046 us dollars equal to approximately 87000 rupees per day.
11. Thenews.com.pk has been valued at 366708 us dollars. It is ‘the news’ online version. Its estimated earning for a day is 502 us dollars or nearly 43500 rupees.
12. Geo.tv is a website of jang group. It has estimated daily earning of us dollars 1421 roughly equal to 124000 rupees. It has been valued at 1 million us dollars.