PACRA assigns initial credit rating to Gas & Oil Pakistan Ltd. 30-11-17.pdf · Institute of...

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For queries/feedback, please write to us on: [email protected] Suite # 209, 2nd Floor, Park Towers, Clifton, Karachi, Pakistan.Tel: (+92 21) 35290201-4 Fax: (+92 21) 35290205 Web: www.gno.com.pk In this Issue • GO becomes Public 1 • PACRA assigns initial credit 1 rating to Gas & Oil Pakistan Ltd. • The Board approvals 1 • New Appointments 2 • Kotla Jam Depot at Bhakkar 3 nearing completion • Sales & Marketing 3 • Chikungunya 4 • Corporate Thoughts 4 Bimonthly Newsletter of Gas & Oil Pakistan Ltd. Issue - 5 | Sep - Oct 2017 - XI G as & Oil Pakistan Ltd. (GO) has been assigned a credit rating of A in the long-term and A1 in the short-term by PACRA. GO, the fastest growing Oil Marketing Company (OMC), was granted permission to establish the OMC by the Government of Pakistan (GOP) on Jun 12, 2012. Sales & Marketing commenced Private Limited to Public Limited Board The Board approved the following in their Board Meeting #10 n Construction of Vehari Depot to commence. n Purchase of Right of Way for pipeline at Mehmood Kot. on Nov 13, 2014 after approval from OGRA on fulfillment of commitments undertaken by the company for establishing depots in Pakistan. GO has rapidly grown to capture a significant market share in the OMC sector through its strategically placed storage depots in Punjab, Sindh and KPK and a network of almost 300 retail outlets. GO currently holds 3% market share in the Oil Marketing sector and plans to aggressively penetrate the sector through investment in its logistics and infrastructure and through expansion of its retail network. G O has been converted to a Public Limited company pursuant to an application made to the Securities & Exchange Commission of Pakistan, whereby the name of the company has been changed to ‘Gas & Oil Pakistan Ltd.’ from ‘Gas & Oil Pakistan (Pvt.) Ltd.’ The change in status of PACRA assigns initial credit rating to Gas & Oil Pakistan Ltd. the company reflects the growing size and future expansion plans of the company. This change will supplement further growth of the company by improving access to financial and equity markets in future and will reflect positively on the overall stature of the company. GO becomes Public

Transcript of PACRA assigns initial credit rating to Gas & Oil Pakistan Ltd. 30-11-17.pdf · Institute of...

Page 1: PACRA assigns initial credit rating to Gas & Oil Pakistan Ltd. 30-11-17.pdf · Institute of Chartered Accountants of Pakistan and brings with him experience of more than 16 years

For queries/feedback, please write to us on: [email protected] Suite # 209, 2nd Floor, Park Towers, Clifton, Karachi, Pakistan.Tel: (+92 21) 35290201-4 Fax: (+92 21) 35290205 Web: www.gno.com.pk

In this Issue •GObecomesPublic 1

•PACRAassignsinitialcredit 1 ratingtoGas&OilPakistanLtd.

•TheBoardapprovals 1

•NewAppointments 2

•KotlaJamDepotatBhakkar 3 nearingcompletion

•Sales&Marketing 3

•Chikungunya 4

•CorporateThoughts 4

Bimonthly Newsletter of Gas & Oil Pakistan Ltd.

Issue - 5 | Sep - Oct 2017 - XI

Gas & Oil Pakistan Ltd. (GO) has been assigned a credit rating of A in the long-term and A1 in the short-term by PACRA.

GO, the fastest growing Oil Marketing Company (OMC), was granted permission to establish the OMC by the Government of Pakistan (GOP) on Jun 12, 2012. Sales & Marketing commenced

Private Limited to

Public Limited

Board

The Board approved the following in their Board Meeting #10n Construction of Vehari Depot to commence. n Purchase of Right of Way for pipeline at Mehmood Kot.

on Nov 13, 2014 after approval from OGRA on fulfillment of commitments undertaken by the company for establishing depots in Pakistan.

GO has rapidly grown to capture a significant market share in the OMC sector through its strategically placed storage depots in Punjab, Sindh and KPK and a network of almost 300 retail outlets.

GO currently holds 3% market share in the Oil Marketing sector and plans to aggressively penetrate the sector through investment in its logistics and infrastructure and through expansion of its retail network.

GO has been converted to a Public Limited company pursuant to an application made to the Securities &

Exchange Commission of Pakistan, whereby the name of the company has been changed to ‘Gas & Oil Pakistan Ltd.’ from ‘Gas & Oil Pakistan (Pvt.) Ltd.’ The change in status of

PACRA assigns initial credit rating to Gas & Oil Pakistan Ltd.

the company reflects the growing size and future expansion plans of the company. This change will supplement further growth of the company by improving access to financial and equity markets in future and will reflect positively on the overall stature of the company.

GO becomes Public

Page 2: PACRA assigns initial credit rating to Gas & Oil Pakistan Ltd. 30-11-17.pdf · Institute of Chartered Accountants of Pakistan and brings with him experience of more than 16 years

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New Appointments

Mr. Moeez ur Rehman has joined GO as Chief Financial Officer. He is a fellow member of the Institute of Chartered Accountants of Pakistan and brings with him experience of more than 16 years in accounting, reporting, risk management, budgeting and taxation. He has served not only in local and multinational companies but also in public sector

companies. Prior to joining GO, he has served at the Lahore Waste Management

Company, DH Fertilizers, KSB Pumps, Famous Brands, International Petrochemicals and Raja Industries. In addition to heading the finance and accounts functions, he has been handling additional responsibilities as Company Secretary, Head of IT and Trustee for employees’ retirements funds.

Moeez ur Rehman

Mr. Zeeshan Tanvir Hashmi has joined GO as Senior Manager - Strategic Retail Development & Sales. He is an enterprising professional with nearly 9 years of proven success in Sales, Marketing and Business Development. He has delivered and sustained revenue and profit gains in highly competitive markets. He has extensive experience

in the downstream sector in Pakistan and the UAE.He has also worked at senior key positions at Attock Petroleum

Limited, Dynamic Oil Trading Limited, United Arab Emirates and Pakistan State Oil Company Limited.

Zeeshan Tanvir Hashmi

Mr. Mujahid Hussain has joined GO as Senior Manager - Logistics Coordination. He brings with him more than 20 years experience. He has worked in leading organizations including Shell, DHL Global, Pepsi Bottling Venture, Service Sales Corporation, TAQ Logistics Solutions and Agility.

Mujahid Hussain

Mr. Nouman Ameer has joined GO as Senior Manager - Operations. He has vast experience in aviation fuel handling and aviation operations. He has been working for the past 20 years in national and multinational organizations, including Shell Pakistan, Total PARCO and OTO. He started Sihala & Gatti operations from scratch and managed the

operation at the mid-country refinery for more than five years.

Nouman Ameer

Mr. Sohail Shahid has joined GO as Senior Manager - Network Standard Training & Coordinator for Inactive Retail Outlets. He brings with him more than 12 years experience in the downstream petroleum industry. He has worked in leading organizations including CCBPL and Total PARCO.

Sohail Shahid

Sr. No Name of Employee Designation

1 Moeez ur Rehman CFO

2 Zeeshan Tanvir Hashmi Sr. Manager - Strategic Retail Development & Sales

3 Sohail Shahid Sr. Manager - Network Standards Traininig & Coordinator for Inactive Retail Outlets

4 Nouman Ameer Sr. Manager - Operations

5 Mujahid Hussain Sr. Manager - Logistics Coordination

6 Razi ud din Khan Sr. Manager - Lubricants Strategy

7 Col. Muhammad Manager - Security and Ashfaque Naeem Vigilance and Business Coordinator

8 Kamran Iqbal Manager - Operations

9 Hafiz Ali Murrad Assistant Manager - Corporate

10 Talha Shafiq Executive - Accounts

11 Waqar Mushtaq Executive - Sales & Marketing

12 Rashid Amin Executive - Finance

13 Toqeer Islam Executive - Taxation

14 Tariq Razzaq Executive - Sales and Marketing B2B

15 Muhammad Saeed Officer - Operations

16 Abdul Hannan Khalid Officer - IT

17 Muhammad Imtanan Bilal Technician - Filling

18 Muhammad Ali Nawaz Technician - Sealing

19 Shahroze Office Boy

Sr. No Outgoing Employees Designation

1 Muhammad Asif Ch Sr. Manager - Logistics

2 Orang Zeb Manager - Sales & Marketing Co-ordination

3 Muhammad Executive - Abu Bakar Abidin Sales & Marketing

4 Jibran Ahmed Sheikh Officer - Sales & Marketing

5 Ali Raza Officer - Sales & Marketing

6 Hafiz Muhammad Ali Officer - Finance

7 Fardad Ali Shah Senior Supervisor - Operations

8 Muhammad Shafiq Technician - Filling

9 Safaresh Ali Draftsman

10 Adeel Ch. Junior Driver

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The Kotla Jam Depot is being constructed at Kotla Jam, 15 km from Jahan Khan on Darya Khan Road, District Bhakkar. It has

5 vertical HSD storage tanks and 6 mounted PMG tanks with a total storage capacity of 6,775 MTs HSD and 2,490 MTs PMG. The facility has a 3-bay loading gantry with 6 loading points. 2 points can be alternatively used for unloading the product as well.

This will be the 4th Depot in the GO network after Sahiwal, Daulatpur and Sarai Naurang. It will cater to customer requirements in the Northern Punjab area. The depot would be completed before the end of the year and would be commissioned after the 3rd OGRA Party inspection.

Kotla Jam Depot at Bhakkar nearing completion

Jammu and KashmirDisputed Territory

Depots

Retail Outlets

Sindh

Balochistan

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Khyber Pakhtunkhwa

Azad Kashmir

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Corporate Thoughts“When you have a real interest in life and a curious life,

then sleep is not the most important thing.” – Martha Stewart

“Life isn’t worth living unless you’re willing to take some big chances and go for broke.”

– Eliot Wigginton“The difference between ordinary and

extraordinary is that little extra.”– Jimmy Johnson

“The essential question is not, ‘How busy are you?’ but ‘What are you busy at?’”

– Oprah Winfrey“If you genuinely want something, don’t wait

for it – teach yourself to be impatient.”– Gurbaksh Chahal

“Don’t worry about people stealing your design work. Worry about the day they stop.”

– Jeffrey Zeldman“Don’t let the fear of losing be greater than

the excitement of winning.”– Robert Kiyosaki

“Remember, the greatest failure is to not try. Once you find something you love to do, be the best at doing it.”

– Debbi Fields

ChikungunyaKey facts

• Chikungunya is a viral disease transmitted to humans byinfected mosquitoes. It causes fever and severe joint pain. Other symptoms include muscle pain, headache, nausea, fatigue and rash.

• Jointpainisoftendebilitatingandcanvaryinduration.• Thediseasesharessomeclinicalsignswithdengueandzika,

and can be misdiagnosed in areas where they are common.• Thereisnocureforthedisease.Treatmentisfocusedonrelieving

the symptoms.• Theproximityofmosquitobreedingsitestohumanhabitationis

a significant risk factor for chikungunya.Symptoms

• Mostpeopleinfectedwithchikungunyaviruswilldevelopsomesymptoms.

• Symptoms usually begin 3-7 days after being bitten by aninfected mosquito.

• Themostcommonsymptomsarefeverandjointpain.• Other symptoms may include headache, muscle pain, joint

swelling or rash.Diagnosis

• Thesymptomsofchikungunyaaresimilar to thoseofdengueand Zika, which are diseases spread by the same mosquitoes that transmit chikungunya.

• Seeyourdoctor if youdevelop thesymptomsdescribedhereand have visited an area where chikungunya is found.

• Ifyouhaverecentlytravelled,tellyourdoctorwhenand where you travelled.

• Your doctor may suggest blood tests to look forchikungunya or other similar viruses like dengue and Zika.

Treatment• There is no vaccine to prevent chikungunya or

medicine to treat the virus.• Treatthesymptoms:

m Get plenty of rest. m Drink fluids to prevent dehydration. m Take medicine such as acetaminophen

(Tylenol®) or paracetamol to reduce fever and pain. m Do not take aspirin and other non-steroidal

anti-inflammatory drugs (NSAIDS until dengue can be ruled out to reduce the risk of bleeding). m If you are taking medicine for another medical

condition, talk to your healthcare provider before taking additional medication.

m If you have chikungunya, prevent mosquito bites for the first week of your illness.

m During the first week of infection, chikungunya virus can be found in the blood and passed from an infected person to a mosquito

through mosquito bites. m An infected mosquito can then spread the virus to other people.

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Jammu and KashmirDisputed Territory

Depots

Retail Outlets

Sindh

Balochistan

Punjab

Khyber Pakhtunkhwa

Azad Kashmir

Gilgit-Baltistan

CH

I NA

I ND

I A

I R A N

AF

GH

AN

I ST A

N

A R A B I A N S E A

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