Shell Pakistan Limited is a subsidiary of Royal Dutch Shell plc that markets petroleum products and compressed natural gas in Pakistan. The company aims to efficiently and profitably provide oil, gas, and energy to meet customer needs. It emphasizes core values of honesty, integrity, and respect. The document discusses Shell's corporate governance practices, including its board of directors, financial reporting, treatment of directors and executives, corporate social responsibility programs, internal controls, and risk management strategies.
Corporate governance is "the system by which companies are
directed and controlled". It involves regulatory and market
mechanisms, and the roles and relationships between a
company’s management, its board, its shareholders and other
stakeholders, and the goals for which the corporation is
governed. In contemporary business corporations, the main
external stakeholder groups are shareholders, debt holders,
trade creditors, suppliers, customers and communities affected
by the corporation's activities. Internal stakeholders are the
board of directors, executives, and other employees.
Introduction to Corporate Governance Sep 17 2011Demir Yener
Introductory remarks on good corporate governance practices and implications on board performance and rights and responsibilities for Mongolian directors.
Corporate governance is "the system by which companies are
directed and controlled". It involves regulatory and market
mechanisms, and the roles and relationships between a
company’s management, its board, its shareholders and other
stakeholders, and the goals for which the corporation is
governed. In contemporary business corporations, the main
external stakeholder groups are shareholders, debt holders,
trade creditors, suppliers, customers and communities affected
by the corporation's activities. Internal stakeholders are the
board of directors, executives, and other employees.
Introduction to Corporate Governance Sep 17 2011Demir Yener
Introductory remarks on good corporate governance practices and implications on board performance and rights and responsibilities for Mongolian directors.
Corporate collapses, misinformation, fraud and the failure of many watchdog institutions, from auditors to investment analysts, have driven the need for change beyond the self-policing business arena and into the realm of politics - as had happened to Enron and Worldcom - as well as lesser corporate debacles, such as Adelphia Communications, AOL, Arthur Andersen, Global Crossing, Tyco, created an atmosphere of doubt and among the investing public. Practical applications of corporate governance in the US now mean compliance with the law - not just compliance with a "softly" enforceable voluntary code.
Cg & Role of SECP Securities and Exchange Commission of Pakistan ASAD ALI
The Securities and Exchange Commission of Pakistan (SECP) was set up in pursuance of the Securities and Exchange Commission of Pakistan Act, 1997. This Act institutionalized certain policy decisions relating to the constitution and structure, powers, and functions of the SECP, thereby giving it administrative authority and financial independence in carrying out its regulatory and statutory responsibilities.
The SECP became operational in January 1999 and has come a long way since then. It was initially concerned with the regulation of corporate sector and capital market. Over time, its mandate has expanded to include supervision and regulation of insurance companies, non-banking finance companies and private pensions. The SECP has also been entrusted with oversight of various external service providers to the corporate and financial sectors, including chartered accountants, credit rating agencies, corporate secretaries, brokers, surveyors etc. The challenge for the SECP has amplified manifold with its increased mandate.
Financial Statement Analysis of Engro FertilizersWasif Ali Syed
Engro Fertilizers Limited is a subsidiary of Engro Corporation and a renowned name in Pakistan fertilizer industry.
It is traded on the stock market under the symbol ‘EFERT.
Engro holds a vast, nationwide production and marketing infrastructure and produces leading fertilizer brands optimized for local cultivation needs and demand.
Engro is also a leading importer and seller of Phosphate products, which are marketed extensively across Pakistan as phosphatic fertilizers.
National Safety Council USA for Safety Leadership
9th Annual Fire Safety Excellence Awards
Asia Responsible Enterprise Awards for PAVE
Green Office Certification by WWF
Shared Value Awards Australia for PAVE
16th Annual Environment Excellence Awards
CSR Initiatives for Livelihood & Health by NFEH
Best Environment Performance & Tree Plantation Award
It covers the topics: corporate social responsibility, models of corporate governance, Board of Directors, Shareholders, Board Committees, Sustainable Development
We, the students of NIT-Kurukshetra prepared this presentation to calculate the valuation of the upcoming Paytm IPO by One 97 communications.
It consists of the financial statement and shareholding pattern analysis of the company.
Corporate collapses, misinformation, fraud and the failure of many watchdog institutions, from auditors to investment analysts, have driven the need for change beyond the self-policing business arena and into the realm of politics - as had happened to Enron and Worldcom - as well as lesser corporate debacles, such as Adelphia Communications, AOL, Arthur Andersen, Global Crossing, Tyco, created an atmosphere of doubt and among the investing public. Practical applications of corporate governance in the US now mean compliance with the law - not just compliance with a "softly" enforceable voluntary code.
Cg & Role of SECP Securities and Exchange Commission of Pakistan ASAD ALI
The Securities and Exchange Commission of Pakistan (SECP) was set up in pursuance of the Securities and Exchange Commission of Pakistan Act, 1997. This Act institutionalized certain policy decisions relating to the constitution and structure, powers, and functions of the SECP, thereby giving it administrative authority and financial independence in carrying out its regulatory and statutory responsibilities.
The SECP became operational in January 1999 and has come a long way since then. It was initially concerned with the regulation of corporate sector and capital market. Over time, its mandate has expanded to include supervision and regulation of insurance companies, non-banking finance companies and private pensions. The SECP has also been entrusted with oversight of various external service providers to the corporate and financial sectors, including chartered accountants, credit rating agencies, corporate secretaries, brokers, surveyors etc. The challenge for the SECP has amplified manifold with its increased mandate.
Financial Statement Analysis of Engro FertilizersWasif Ali Syed
Engro Fertilizers Limited is a subsidiary of Engro Corporation and a renowned name in Pakistan fertilizer industry.
It is traded on the stock market under the symbol ‘EFERT.
Engro holds a vast, nationwide production and marketing infrastructure and produces leading fertilizer brands optimized for local cultivation needs and demand.
Engro is also a leading importer and seller of Phosphate products, which are marketed extensively across Pakistan as phosphatic fertilizers.
National Safety Council USA for Safety Leadership
9th Annual Fire Safety Excellence Awards
Asia Responsible Enterprise Awards for PAVE
Green Office Certification by WWF
Shared Value Awards Australia for PAVE
16th Annual Environment Excellence Awards
CSR Initiatives for Livelihood & Health by NFEH
Best Environment Performance & Tree Plantation Award
It covers the topics: corporate social responsibility, models of corporate governance, Board of Directors, Shareholders, Board Committees, Sustainable Development
We, the students of NIT-Kurukshetra prepared this presentation to calculate the valuation of the upcoming Paytm IPO by One 97 communications.
It consists of the financial statement and shareholding pattern analysis of the company.
'CSR' and 'Corporate Governance' are 2 sides of a coin, 'Sustainability' being the EDGE of that coin! Notes from my session on Corporate Governance for PG Diploma in CSR course.
Corporate Governance and Firm Performance: The Role of Transparency & Disclos...Muhammad Arslan
Purpose: This purpose of this paper is to empirically examine the relationship between transparency and disclosure and firm performance. Highlighting the importance of corporate governance in banking sector, the paper has focused in depth over its role, level and its impact on performance in banking industry of Pakistan. Design/methodology/approach: The paper access this purpose by constructing transparency and disclosure index for the past five year 2007-2011, using proxies for three sub-categories which are board and management structure disclosure, ownership structure disclosure and financial transparency disclosure. The paper also investigated structural changes of T&D Index and its effect on bank financial performance over the sample of 30 banks operating in Pakistan. Findings: Empirical analysis results by using ordinary least square regression model, reveals that financial performance is positively related to the transparency and disclosure and their sub levels except ownership structure disclosure which has negative relation with both ROA and ROE. Furthermore the average T&D level in Pakistani banking sector is above average. Practical implications: The current research paper aims for important policy implementation to reduce information asymmetry and improve corporate governance and firm performance in banking sector of Pakistan.
Abstract:
Corporate governance is very important in our business world today, especially after the frequent non-stop worldwide financial crises. Strong corporate governance is now considered a basic condition to accept and register an organization in most of the Stock Exchange Markets all over the world. The audit committee plays a major role in corporate governance regarding the organization’s direction, control, and accountability. As a representative of the board of directors and main part of the corporate governance mechanism, the audit committee is involved in the organization’s both internal and external audits, internal control, accounting and financial reporting, regulatory compliance, and risk management. This paper focuses on the audit committee’s powers, functions, responsibilities, and relationships within the framework of corporate governance.
This presentation is for my students under Master in Business Administration Course code of Business Policy MBA106. The information is all about the roles and managing of corporate under the corporate governance.
This report gives a detailed analysis on the financial position and assessment on one of the leading transportation service conglomorate in India, VRL Logistics.
To Madam Ayesha...Financial Analysis of PSOSam Royale
This is the financial analysis with all financial ratios calculated. I feel very sorry to say that my project was considered copy paste.Although it was a damn 1 day work out.
Notes of Module 5 Corporate Governance
Content
Concept of Corporate Governance
Corporate Governance in India
Objective of Corporate Governance
Features of Corporate Governance
Elements of Corporate Governance
Importance of Corporate Governance
Important Issues in Corporate Governance
Corporate Governance and Agency Theory
Reforming Board of Directors
*Birla Committee
*Naresh Candra Committee
*Narayana Murthy Committee
Bibliography
www.google.com
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The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
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If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
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Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
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Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
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Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
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If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.
Corporate governance (shell pak)
1. “Energy Sector”
Shell Pakistan Limited
“Corporate Governance Practices”
Subject: Corporate Governance
Submitted To: Sir Ishtiaq Ahmed
Class: MBA-V Submitted By:
1. Qasim Raza
2. Faiza Batool
3. Faisal Hafeez
Department of Management Science
NATIONAL UNIVERSITY OF MODERN LANGUAGES
SECTOR H-9, ISLAMABAD
2. History:
Shell has a rich legacy and long association with Pakistan. The company is a subsidiary of Shell
Petroleum Limited, United Kingdom (immediate Parent) which is a subsidiary of Royal Dutch
Shell plc (ultimate parent). The company markets petroleum products and compressed natural
gas. It also blends and markets various kinds of lubricating oils. Shell Pakistan Limited is a
limited liability company incorporated in Pakistan and is listed on the Karachi and Lahore Stock
Exchange.
The objective of Shell Pakistan Limited, are engage to efficiently, responsibly and profitably in
oil, gas, chemical and other selected businesses and to participate in the search and for
development of other sources of energy to meet evolving customer needs and the worlds growing
demand for energy. We believe that oil and gas will be integral to the global energy needs for
economic development for many decades to come.
Company Goals:
The goal of our company is to constantly improve on our customer’s experience, and in an
increasingly competitive environment, Shell’s commitment to providing top quality, right
quantity and superior service has been the driving strength of our business in Pakistan.
Core Values at Shell Pakistan Limited:
.
Being at Shell Pakistan Limited is about core values of honesty, integrity and respect for people
are at the heart of the way we manage our business.
3. Financial Reporting and Auditing
1. Company Information:
Board of Directors
Sarim Sheikh (Chairman)
Rafi H Basheer
Farrokh K Captain
Chang Keng Chen
Imran R Ibrahim
Naseer N S Jaffer
Zaffar A Khan
Michael Noll
Haroon Rasheed
Omer Y Sheikh
Badaruddin F Vellani
Managing Director & CEO
Sarim Sheikh
Audit Committee
Badaruddin F Vellani
Imran R Ibrahim
Michael Noll
External Auditor
A. F. Ferguson & Co.
Legal Advisors
Vellani & Vellani
Advocates & Solicitors
4. 2. Audit committee:
Members of audit committee
Shell has audit committee formed by board having 3 members all of them including chairman
are non-executive directors. Meeting of audit committee held at least one meeting prior to
approval of final results. According to report of the director financial statements prepared by
management are fairly state its affairs, results of operations, cash flows and change in equity.
There is appropriation and consistency in use of accounting policies. All related party transaction
was placed before the audit committee and have been reviewed and approved by the Boards of
Directors in accordance with the requirement of the code.
External auditor
Externally it is audited by A. F. Ferguson & Co. In their opinion he is best of information given
to them like balance sheet, profit & loss, cash flow statement and statement of changes in equity
with their notes are conformed to approved accounting standards in Pakistan. External auditor
play a vital role for gives “True and Fair view” on company financial statements and to develop
their good image in the market by increase in share price. Moreover, the opinion of external
auditor on company’s financial statement creates shareholders trust on the company’s growth.
3. Financial Reporting:
The financial statements have been prepared under the historical cost convention, as modified by re-
measurement of certain financial assets and final liabilities at fair value and recognition of certain staff
retirement and other service benefits at present value.
The financial statements of Shell Pakistan are prepared according to the Companies Ordinance 1984, and
directives given by the SECP and the approved accounting standards applicable in the Pakistan. They
followed approved accounting standards compromise of such International Financial Reporting standards
Accounting Standards (IFRS) issued by the International Accounting Standard Boards (IASB) as are
notified under the provisions of ordinance.
1. Financial assets are classified as are held for trading if acquired principally for the purpose of
selling in the short term.
2. Loans and receivables are non-derivative financial assets with fixed and determinable payments
that are not quoted in an active market.
3. There were no held to maturity financial assets in the balance sheet.
4. Gain or loss from changes in fair values of monetary and non-monetary securities classified as
available for sale are recognized in other comprehensive income.
5. Stock-in-trade is valued at the lower of the costs, calculated on the first-in first-out basis, and net
realizable value.
5. Directors Benefits
1. Director Bonuses :
Aggregate amount charged in the financial statement in respect of the staff retirement benefit
schemes as follows:
2011 (Rupees’ 000) 2010
- In respect of pension and gratuity scheme 104,232 180,982
- In respect of provident fund 56,331 32,224
- In respect of post retirement medical benefit scheme 10,461 10,387
171,024 223,593
6. 2. Remunerations of Chief Executives, Directors and Executives:
____________________2011________________
Chief Executives Directors Executives
__________ (Rupees’000) __________
Short-Term Employees Benefits:
Managerial remuneration 35,769 51,922 866,922
(Including Bonus)
Housing:
Rent 5,540 - -
Utilities 847 1,032 24,144
Other items 108 270 6,468
Medical expenses _95_ _262_ 22,836
42,359 53,486 920,370
Post-employment Benefits:
Company’s contribution to pension,
Gratuity and provident fund _1,675_ 2,563 115,484
44,034 56,049 1,03,5854
No of person (s) at year end ___1__ ___3__ 389__
1. Shell Pakistan Ltd charged aggregate amount in financial statements for the year for fee to 6 Non-
executive Directors was Rs. 1,120 Thousands (2010: 5 Non-executive Directors Rs. 1,080
Thousands).
7. 2. The Chief executive, Executive Directors and some of the Executives were also provided with fee
use of company maintained cars and are entitled to certain benefits from Shell group. The Chief
Executive was also provided with the furnished accommodation.
3. Stock Options:
Shareholders Category No. of Shareholders No. of Shares Held
Directors
Mr. Farrokh K. Captain 1 469,816
Mr. Imran R. Ibrahim 1 45,084
Mr. Zaffar A. Khan 1 5,156
Mr. Badaruddin F. Vellani 1 125
Chief Executive Officer - -
Directors’ / CEO’s Spouses
Mrs. Samina Ibrahim 1 17,864
W/o Mr. Imran r. Ibrahim
Executives 3 2,435
8. Corporate Social Responsibility
Social issues are generally given more political, economic, and media emphasis in developing countries
than environmental, ethical, or stakeholder issues. The shell has comprehensive set of policies and
programs relating to the society which they integrate with their business operations and decision making
processes.
1- Training for Development:
Shell is providing corporate social responsibilities through giving training to the student. And also pay
attention on the government staff to give them training to protect the development and also to NGO’s
sector and private and school students.
2- Training for Employment:
Shell provides corporate social responsibilities to train the public on different level to for
employment. The benefit of this opportunity is provided to the graduate students and diploma
holders.
For their own employees there is Health Safety Environment standards in the country to get the
complete control company want to train their employees so that in case of emergency it is helpful.
3- Road Safety:
The responsibility of shell to provide road safety to their employee families and their citizens.
The Social Investment portfolio at Shell is aligned with three broad global thematic areas:
Enterprise Development, Road Safety and Access to Energy & Education.
It has conducted a number of Road Safety related campaigns with stakeholders in the public and
private sectors.
Shell also hosts the Shell Eco-marathons around the globe where student teams design, build and
race ultra fuel efficient cars.
4- Life Skills:
The other corporate social responsibility of the shell is to develop personal youth.
Under the corporate social responsibility the social environment is most important to protect the
environment and manage the desirable resources.
They respect the people and made development projects for them to protect and safeguard.
9. 5- Concern for environment:
Shell contributes to sustainable development by helping the world meet growing energy
needs in economically, environmentally and socially responsible ways. .
Sustainable development for Shell also means benefitting local communities it works in,
reducing the impact its operations have on the environment, adding business value to
customers and business partners, and developing and creating opportunities for staff.
Internal Controls and Financial Control
Internal controls:
Internal controls are methods or procedures adopted in a business to:
Safeguard its Assets
Ensure financial information is accurate and reliable
Ensure compliance with all financial and operational requirements
And generally assist in achieving the business objective
To improve the communicational barriers among management and field employees
To adopt the upgraded technology for purification of crude oil into different products (high speed
diesel, Kerosene oil, High octane diesel, Petrol etc) and also produce By-product from real
products.
Better environment culture in the organization with highly professional management team.
Statement of Compliance with code of conduct:
1. The company continues to encourage effective representation of Independent non-executive
Directors and Directors representing minority interest on its Board of Directors. At the present,
the Board includes five Independent non-executive Directors, two of whom represent minority
shareholders.
2. The Directors have confirmed that none of them is serving as a director in more than ten listed
companies, including this company.
3. To the best of our knowledge all resident directors of the company are registered tax payers and
none of them has defaulted in payment of any loan to a banking company, a DFI or NBFI or
being a member of Stock Exchange, has been declared as a defaulter by that stock exchange.
None of the Director or their spouse is engage in the business of stock exchange.
10. 4. The Board has adopted the vision/ mission statement and overall corporate strategy and has
formulated significant policies of the company.
5. The board met at least once in every quarter and all its meetings were presided over by the
chairman.
6. All the powers of the Boards have been duly exercised and decision on material transaction
(including appointment and remuneration) and terms and conditions of employment of the CEO
and other executive directors have been taken by the Board.
7. No change occurred in the office of the CFO and company secretary during the year under
review.
Financial Controls:
1. Trade mark and manifestations fees and Global Infrastructure Desktop charges are based on the
agreement entered into by the company with the Shell Group of Companies.
2. Expenses recovered from or charged by related parties are based on actual charged by or
recovered from the related parties.
3. Capital expenditures contracted for but not incurred as at September 30, 2011 amounted to
approximately Rs. 283,794 thousands.
4. Commitment for rental for assets under operating lease agreements as at September 30, 2011
amounted to Rs. 2, 827, 198 thousand.
5. Letter of credits and bank guarantees outstanding as at September 30, 2011 amounted to Rs.
3,309,313 thousand.
6. The accumulated levy up to September 30, 2011 amounted to Rs. 69,216 thousand.
Risk Management Profile
The company activities are exposed to be numerous financial risks namely credit risk, foreign exchange
risk, interest rate risk and liquidity risk. The company finances its operations through equity, borrowings
and management of working capital with a view of maintaining appropriate mix between various sources
of finance to minimize risk and provide maximum return to shareholders.
Credit Risk
Credit risk represents the accounting loss that would be recognized at the reporting date if counters parties
failed completely to perform as contracted. Credit risk arises from cash equivalents and deposits with
banks and financial institutions, as well as credit exposures to customers, including trade receivables and
11. committed transactions out of financial assets aggregating Rs. 7,509,734, the financial assets subject to
credit risk amount to Rs. 7,495,935 Thousands.
Market Risk
Market risk is the risk that fluctuates as a result of changes in market interest rates, foreign exchange
rates, and change in market sentiments, speculative activities, supply and demand of securities and
liquidity in the market.
i). Currency Risk
Currency risk is the risk that fair value of future cash flow of financial instruments will fluctuate because
of changes in foreign exchange rates. Foreign currency risk arises where payable exists due to imports of
goods transactions with foreign related parties as well as trade receivables from foreign related parties.
The company primarily has foreign currency exposures in US Dollar (USD), Great Britain Pound (GBP)
and Euro (EUR).
ii). Interest Rate Risk
The company analysis its interest rate risk on regular basis by monitoring existing facilities and market
interest rate. At Dec 31, 2011, if interest rate on company’s borrowings had been 1% higher/ lower with
all other variables held constant, post profit would have been for the year would have been lower/higher
by Rs. 102, 343 thousand (2010: Rs. 64, 912 thousand) mainly as a result of higher/ lower interest
exposure on variable rate borrowings.
iii). Price Risk
The company is not exposed to equity securities price risk as currently the company has no investment in
listed securities.
Liquidity Risk
The liquidity risk is the risk that an enterprise will encounter difficulties in raising funds to meet
commitments associated with financial instruments. Through the functions the company continuously
monitors its liquidity positions. Company ensures the availability of funds by maintaining commitment
with credit line. When the company manages its capital the prime objective is to safeguard its capital and
provide returns to shareholders and other stakeholders and reduce cost of capital. In order to maintain
capital structure, the company may adjust amount of dividend that is paid to shareholders and
stakeholders and issue new shares to reduce debts.