Wateen Beats Forecasts, Posts Loss After Tax: ProPakistani

Wateen Beats Forecasts, Posts Loss After Tax
Microsoft Signs Education Alliance Pact with HEC
After Android, Zong Launches 3 Low-End Handsets
An Open Letter from Unhappy Mobilink Franchisees to VP Sales
Mobilink Jazz Cricket Tournament Kicks off

Wateen Beats Forecasts, Posts Loss After Tax

Posted: 15 Oct 2010 02:53 AM PDT

Wateen Beats Forecasts, Posts Loss After Tax is a post from: ProPakistani

In the annual report published this week; Wateen posted Rs 1,994 million as after tax loss in the year ended June 30, 2010 (FY10) as compared to profit after tax of Rs 927.763 million in the corresponding period in FY09.

Forecasts had initially projected a loss of Rs. 2,071 million for the same period.

Wateen's revenues for year ended June 30th, 2010 stood at Rs 7,961 million with the gross margin for second half of FY10 increasing to 38% from 30% compared to the first half of FY10. Company's revenues were Rs. 15,410 million during the same period last year.

The board of directors of the company in its meeting held at Abu Dhabi, UAE declared Rs 4.43 per share loss in the period under review against earning per share of Rs 2.22 in the same period a year back.

Company's financial performance in FY10 has shown a positive trend marked by a positive EBITDA of 6% for second half compared to negative 3% for first half of FY10.

Wateen has said that it outperformed management’s expectations through various cost rationalizing and consolidation initiatives aimed at lowering operational overheads. Overall, Wateen was able to cut more than Rs. 700 million in operating costs which resulted in EBITDA of 4% for FY10 compared to projected EBITDA of 0%.

Recently the sponsors have extended a support of over Rs 2,100 million to Wateen.

You can download Wateen's financial report for year 2009/10 by clicking this link (PDF File – 3.35 MB)

This posting includes an audio/video/photo media file: Download Now

Microsoft Signs Education Alliance Pact with HEC

Posted: 15 Oct 2010 02:29 AM PDT

Microsoft Signs Education Alliance Pact with HEC is a post from: ProPakistani

Kamal Ahmed, Country General Manager, Microsoft Pakistan and Anwar Amjad, Director IT, HEC during the signing ceremony between Microsoft and HEC

To achieve these objectives in Pakistan, Microsoft Pakistan has entered into an Education Alliance Agreement with the Higher Education Commission of Pakistan to.

In essence, the Education Alliance Agreement between Microsoft and HEC will provide centralized IT services to HEC-approved universities across Pakistan while maintaining the highest standards in the use of Information Technology within the ambit of education in Pakistan.

Commenting on this major development in the country's higher education sector, Kamal Ahmed, Country Manager, Microsoft Pakistan, said,

"This Education Alliance Agreement provides the framework for a comprehensive joint public/private implementation plan that supports Pakistan's objective of achieving education excellence. It is aligned to the key strategic aims of Transforming Education, Fostering Local Innovation and Enabling Jobs and Opportunities, and contains a selection of mutually agreed programs and solutions that offer the tools and support to achieve the country's overall vision pertaining to education."

A key objective of the Agreement is to establish the basis of a long term, on-going partnership that will also allow for regular review and measurement to ensure that all undertakings of Microsoft within the educational programs remain aligned to the long term.

Since it is always fruitful for the state sector and private enterprise to work together to combine expertise, knowledge, experience and resources to ensure successful and sustainable education transformation, Microsoft will help the HEC to attain its goals by transforming education, fostering local innovation and creating jobs and opportunities through this alliance.

This blends perfectly with the HEC's stated objective of equipping university students and faculty with the latest technological access across Pakistan. The HEC is also committed to bridging the digital divide by bringing Pakistan at par with the developed nations of the world where technology enablement for the students is concerned.

Giving his views on the Agreement, Professor Dr. Sohail Naqvi, Executive Director of the Higher Education Commission of Pakistan, said

"The Commission has entered into this joint partnership with Microsoft to promote the use of Information Technology in Pakistan's higher education sector through powerful software tools and to improve the efficiency of the education system by attaining the best accepted standards at all higher education institutions in the country."

Since a strong technology infrastructure serves to make communities more appealing to local, regional and global businesses and investors, deployment of technology access under the education alliance will help bolster Pakistan's economic growth and global.

Discussing the merits of the agreement, Anwar Amjad, HEC's Director IT, said,

"This is a great opportunity for institutions of higher learning in Pakistan to gain access to a broad spectrum of technology and enable the country to move towards a knowledge-based economy."

After Android, Zong Launches 3 Low-End Handsets

Posted: 14 Oct 2010 10:13 PM PDT

After Android, Zong Launches 3 Low-End Handsets is a post from: ProPakistani

Zong looks serious about handset market. It's recent launch of Android handset at Rs. 15,999 is already getting popular amongst the masses. Along with, Zong has offered these four low-end handsets to meet requirements of all segments.

Zong's this aggressive move is a going to impact already struggling Nokia. Not only this, other operators will be compelled to offer handsets too – if Zong's offers become lucrative.

Details and pricing are as following:

G 2201

Following the immense success of our previous affordable handset offers, ZONG is back with another handset deal with the latest affordable handset offer that is bound to catch your interest and attention. The stylish and affordable G 2201 handset coupled with an amazing bundle offer from ZONG.

Price:

Rs. 1,999 with SiM

Offer:

1,000 free on-net minutes
1,000 free SMS to any network
Free GPRS Package for 15 days @ 2 MB/15 days

Handset Features

WAP
FM Radio
Torch

R 231

The R-231′s sleek and stylish design along with its music related functionalities is a truly appealing blend. The trendy handset is packed with numerous features and a remarkable bundle offer of free calls and SMS to any network in Pakistan.

Price:

Handset with new ZONG SIM: Rs. 3,499/-

Offer:

Rs 225/- FOC balance divided over 3 months ( Rs 75/month); the balance is valid for on-net calls, off-net calls and SMS
6MB free GPRS each month for 3 months.

Handset Features

2 MP Camera
EDGE Support
FM Radio
34MB Internal Memory
Micro SD card Supported

N 281

N 281 is low-end touch screen phone offered by Zong at an unbelievable price. Along with this splendid TouchScreen handset and high-quality camera you will also get an incredible bundle deal of free GPRS and balance to make calls and SMS to any network in Pakistan.

Price:

Rs. 6,999 with SIM

Offer:

Rs. 300 free balance distributed over three months, which can be used for of-net, on-net calls and SMS
Free GPRS package for three months @ 6MB per month

Handset Features

Touch Screen
2 MP Camera
EDGE Support
FM Radio
20MB Internal Memory
Micro SD card Supported
8 Pre-Loaded Bookmarks (which include Facebook, Gmail, Google, CricInfo, ZONG, Wikipedia, Yahoo)
ZONG Music Hot Key for one touch access to ZONG Music IVR

According to info provided to ProPakistani, there is another handset in the queue, named as Zong R 221. However, Zong's website isn't mentioning this phone as of now. If launched, Zong R 221 will be priced at Rs. 2,499 along with SIM.

All handsets are available at Zong Customer Service Center and Franchises.

All handsets come with discount of Rs 150/- for Subscribers who want to avail the offer on their existing ZONG SIM.

An Open Letter from Unhappy Mobilink Franchisees to VP Sales

Posted: 14 Oct 2010 10:00 PM PDT

An Open Letter from Unhappy Mobilink Franchisees to VP Sales is a post from: ProPakistani

Mobilink, the largest operator in Pakistan has always faced issues with respect to their third party resource, THE FRANCHISES.

We have previously witnessed a huge strike by Mobilink franchisees in Karachi which was in the sales leadership of Irfan Akram and now in the sales leadership of Jahanzeb Taj, it's the franchisees in Multan who are not happy with company's managerial policies.

The franchisee union in Multan region have written an open complain letter to Jehanzeb Taj, VP Sales, Mobilink, which we have confirmed from multiple sources with-in the company and the franchises.

Franchisees have shown serious concerns about the regional mis-management practiced by newly hired regional heads and the way it is impacting their business and ultimately the company's sales and revenues.

Franchisers from Multan said that the region is performing weirdly which topped in sales for one year, under the control of previous regional manager. They have threatened that they can come on road for strike if their demands are not met.

This is one of the many examples set by franchisees to openly oppose company policies.

We have attached the letter which is very self explanatory on what the franchisees have pointed out but the key points are:

Franchisee don't want to work under the newly imposed regional polices.
Franchisee are bound to sell SIMs in Rs.100, purchasing cost of which is Rs.130 – that give them a total lose.
Franchisees are pushed to show Post paid sales which turns out to be just a number game whereas actually the SIMs are lying in the drawers
Franchisees a re pushed to show growth by putting Jazz load stock of 5-7 days in retailers SIMs
Franchisees have clearly mentioned prosperity while working under the regional leadership Ex-Regional Director, Abdul Muqeet Fareed and Ex-Regional Manager Khawaja Hasan but the the newly induction of Anwar Qazzafi, the franchisees are in immense pressure.
Last but not the lease, the franchisees have requested the Management to improve their system and procedures and work honestly so that it's a win win situation for everyone.

Click on image to enlarge:

Mobilink Jazz Cricket Tournament Kicks off

Posted: 14 Oct 2010 09:42 PM PDT

Mobilink Jazz Cricket Tournament Kicks off is a post from: ProPakistani

Mobilink has initiated a nation-wide cricket tournament titled "Jazz Cricket Hungama."

The tournament that kicked off today in Jhang and Sahiwal is aimed at young cricketers between the ages of 15 to 25 years to compete for the title of cricket champions in their respective city while also winning attractive prizes including cash, scratch cards and cd players.

Mobilink Jazz will be holding the tournament in 15 cities.

According to the format, 16 teams from each participating city will be registered through Mobilink's local franchises and the tournament will proceed on a knock out basis. The tournament comprises of day and night matches to enable maximum participation from the players and spectators.

The participating cities include Sheikhupura, Jhang, Sargodha, Bahawalpur, DG Khan, Rahimyar Khan, Gujranwala, Gujrat, Sialkot, Burewala, Sahiwal, Abbotabad, Jhelum, Hyderabad and Sukkur.

For participation, scores and more information about the Jazz Cricket Hungama please visit: http://www.mobilinkgsm.com/cricket.

Mobilink Jazz aims to provide a healthy avenue of recreation for the youth through this tournament. As the official cellular partner of the Pakistan Cricket Board, Mobilink has a long standing association with cricket. The company has successfully organized nationwide cricket campaigns including the "Mobilink Hunt for Heroes" drive that attracted thousands of talented youngsters.