Author Archives: bmacapital

BMA Capital hosts Pakistan Investment Opportunities Event

Karachi, Pakistan 26 August 2015: – A delegation of fifteen dynamic businessmen from diversified industries attended an investment opportunity awareness session at BMA Capital, Pakistan’s premier financial services group. These young proactive individuals represented the Standing Committee on Young Entrepreneurs & Youth Affairs of FPCCI (Federation of Pakistan Chamber of Commerce and Industry). FPCCI is a prominent economic coordinating body in Pakistan working to promote collective efforts of the private sector and the government in the fields of trade and investment. The team was led by Mr. Omair Baig, Senior Vice Chairman of FPCCI YE committee. The event was hosted by BMA Capital team of representatives headed by Mr. Moazzam M. Malik, Chairman & CEO of the firm.
The session was aimed to highlight equity investment opportunities in Pakistan. It began with a group discussion on the present economic environment and investment climate around the globe as well as in Pakistan. The discussion session was followed by an investment opportunities presentation, led by BMA Capital’s Head of Research Mr. Usman Zahid and his team. The presentation highlighted Pakistan’s investment story and the tremendous potential it holds in all economic sectors. The discussion also unveiled some threats that exist and the opportunities they carry. The participants raised various queries and concerns which were comprehensively answered by BMA Capital’s widely recognized Research team.
“BMA Capital is delighted and honored to be hosting delegates from the Standing Committee on Young Entrepreneurs & Youth Affairs of FPCCI. It is heartening to see such capable and educated young entrepreneurs coming back to Pakistan”, said Mr. Moazzam M. Malik.
In the end, Mr. Omair Baig presented a shield of appreciation to Mr. Moazzam M. Malik. “I am very thankful to Moazzam and his research team to put on a very informative session for us today in which he generously shared his knowledge and experience to the young entrepreneurs of the future of Pakistan” said Mr. Baig.

BMA Capital Treasury Operations Ranks in Top 5 in FMA Brokers Survey 2014

KARACHI: 15 June 2015: BMA Capital Management Limited has been recognized as the 2nd best broker in Foreign Exchange Broker Rating and the 5th best broker in Money Market Broker Rating by Financial Market Association Pakistan (FMAP) in its Brokers Survey Result 2014. FMAP is the professional body of Money Market & Foreign Exchange dealers of banks, financial institutions and brokerage houses in Pakistan. The survey is destined to identify best performing brokers in Pakistan Money and Foreign Exchange Markets.

BMA Capital Treasury Operations (Money Market and Foreign Exchange desks) has a longstanding presence in industry since 1992 when it pioneered corporate Fixed Income and Forex brokerage operations in Pakistan. BMA Capital is also entitled to have the largest number of financial institutions associated as clients. It provides comprehensive services in trading of fixed income instruments (PIBs, T-Bills and TFCs and bonds) and currency. It is focused on driving reformed and transparent processes and expertise to help corporates and institutions control risks, capture opportunity and trade efficiently and reliably – all supported by deep market insight. Its ongoing commitment enables it to ensure liquidity and competitive pricing across the markets in which it operates.

On this joyful occassion Mr. Moazzam M. Malik, Chairman & CEO, BMA Capital Management Limited commented, “I warmly congratulate our Money and FX teams for their outstanding performance. This award affirms our operational excellence in serving our clients, and is a testament to the teams’ expertise and confidence. Insha Allah I am hopeful that our teams will continue to deliver excellent services on the back of strong client relationship of trust and integrity.”

Mr. Shah Jamal Hashmi & Mr. Naiel Oberoi Ikram Assume Roles as Co-Heads, BMA Financial Services

Mr. Shah Jamal Hashmi & Mr. Naiel Oberoi Ikram assume roles as Co-Heads of BMA Financial Services, a division of BMA Capital Management Limited and Pakistan first independent financial products distribution division. BMA Capital introduced BMA Financial Services in 2008 to pioneer a single distribution solution of equities, mutual funds, SMAs (Separately Managed Accounts), debt instruments (TFCs, T-Bills, PIBs) and other financial products. This was done to facilitate our clients reach an educated investment decision from a one stop shop for various investment options.

Mr. Hashmi and Mr. Ikram share more than 12 years of industry experience in financial product distribution. They have already been playing significant roles as investment facilitators in BMA Financial since its inception. In this new role they will be responsible for developing and leading a unified sales strategy across a full range of financial products present in Pakistan’s financial markets. They will also be looking forward to strengthening BMA Financial sales team with an excellent and capable sales force.

Commenting on their promotion in this new role, Mr. Moazzam M. Malik Chairman & CEO, BMA Capital Management Limited said, “We are delighted to welcome Shah Jamal and Naiel to this commendable new role. BMA Capital has the norm to nurture industry’s top talents. We are Insha Allah confident that their extensive industry experience will drive growth and further enhance our ability to serve our clients across the full spectrum of financial products and solutions”

“We are grateful to the senior management of BMA Capital for laying this trust on us and would like to take this opportunity to thank our clients whose trust has been the cornerstone of our success. Insha Allah in times ahead, equities, mutual funds and fixed income products will continue to see huge growth as investors value specialized yet comprehensive financial advisory services. We greatly look forward to taking on this new responsibility as we continue the growth of our dynamic firm to greater horizons.” said Mr. Ikram and Hashmi together.

BMA Capital Management Limited Promotes Mr. Kamran Baig as Head of Treasury Operations

KARACHI: 10 June, 2015 – BMA Capital Management Limited, Pakistan’s premier financial services group, promotes Mr. Kamran Baig, as Senior Vice President and Head of company’s Treasury Operations business. As Head of Treasury he will have oversight of both Fixed Income and Foreign Exchange Sales businesses of BMA.

Mr. Baig is an accomplished treasury services leader with over 18 years of industry experience. Prior to joining BMA he served as Senior Dealer in Invest & Finance Securities, Invisor Securities, Live Securities, Orix Investment Bank, AMZ Securities, First Capital Securities, Finex Securities and Invest Capital Securities. He was appointed in BMA as Senior Dealer Money Market in October 2011 and was deputed as Head of Fixed Income Sales in July 2012 where he continued to develop the fixed income sales processes with his steady leadership. In this additional role Mr. Baig will be responsible for ensuring that services provided by both Fixed Income and Foreign Exchange teams continue to keep pace with the growing needs of large corporate organizations.

Commenting on his appointment in this new role, Mr. Moazzam M. Malik Chairman & CEO said, ” Kamran has a strong track record of delivery from his previous role and therefore I am confident that his exceptional business acumen, knowledge of the marketplace, an unparalleled understanding and commitment to the evolving needs of our clients will Insha Allah result in BMA Treasury Operations’ continued growth and market dominance.”

Speaking on his new role Mr. Baig commented, “Here at BMA we are keen to develop transparent processes and a knowledge working environment for teams to grow and learn. The dynamics of both Fixed Income and Foreign Exchange markets go hand in hand. I look forward to the challenge of working closely with the senior management to further excel overall Treasury operations at BMA”

Business Recorder Article Of BMA Chairman & CEO

KARACHI: 27 April, 2015 – Despite less than appeasing macros over Pakistan’s tumultuous history, the country’s benchmark index, the KSE-100, has continued to depict stellar returns backed by a strong bottoms up story and continued investor appetite. Average annual returns over a 10 year period at the KSE-100 stand at an impressive 25% with US$ based average annual return at 20%. Even more impressive has been the market’s recent performance where the KSE-100 has generated a cumulative 183% return over the past 3 years. In the process, the Karachi Stock Exchange continuously ranked amongst the best performing markets globally.
The uptrend in performance has been a factor of both macro and company level developments where specifically, the strong rally post elections 2013 underpin investor confidence in the economic choices of the incumbent government. Pakistan is on the right development path with FY15 GDP growth expected at 4.5% (FY14: 4.1%) while inflation has come off to just 2.5% from a peak of 15.5% in Dec’10, aided to an extent by receding global commodity prices. Reserve movement has also been positive with the country’s total reserves reaching US$17.2bn after bottoming out at US$7.6bn in Feb’14. The country also re-entered the global capital market space with successful Eurobond and Sukuk issues while the privatization process appears on track. It was heartwarming seeing the excellent response received by the recent HBL secondary offering and underscores the demand as well as the confidence of international and domestic investors on well managed institutions. At the other end of the spectrum, strategic sale of loss making entities particularly the domestic power distribution companies should help mitigate the fiscal burden on successful governments in the years ahead.
The government’s economic reforms have been well perceived internationally with Pakistan’s Eurobond yields falling to current 4.8% from a peak of 8.56% reached in Jul’13. At the same time, Pakistan’s broad risk perception as measured by CDS spreads has improved substantially with current spread at 450bps, significantly lower than the 30%+ witnessed in FY09.
Superior market returns have obviously led to questions of sustainability over a longer term and the market correction in the first quarter of the current year certainly fanned these flames. I believe Pakistan has entered a defining phase where the market (a proxy of the economy) movement is likely to track economic progress in conjunction with geo political developments. The government certainly needs to be consistent in its policies where structural impediments to economic progress need to be addressed. Reforms within the energy sector – a bane for growth in the country, need to continue where current subdued global oil prices have provided the government space on the external front and an excellent opportunity to focus on alternatives. Resting on laurels will not be enough and the government needs to ensure it avails the opportunity to substitute expensive furnace oil electricity generation with coal (local and imported), LNG and hydel capacities. This will have a two pronged benefit to the economy in that not only will it mitigate exchange pressures but will also help in making our exports competitive given lower energy / input costs.
On the economic front, the fiscal side needs much attention particularly with regards to tax collection. Replacing National Tax Numbers (NTNs) by National Identity Cards (NICs) is a smart move in my view and should lead to growth in numbers. At the same time, improved targeted FDI particularly in light of the US$50bn China Pak Economic Corridor project should bring to the fore latent economic activity within the country and its neighbors. From the market’s development point of view, recent increased oversight by the Securities and Exchange Commission of Pakistan (SECP) with rules for Analysts and Traders as well as the recent passage of the Securities Bill 2015 by the Senate are long term positive. What the government needs to ensure is that for market development, all stakeholders have to work together and interests of all parties including regulators and investors should be aligned

New Batch of Nurses takes Oath at the Kharadar General Hospital

KARACHI: 22 April, 2015: The 10th Lamp Lighting / Oath Taking Ceremony at the Kharadar General Hospital (KGH) School of Nursing marked the commencement of new batches of General Nursing and Pupil Midwifery (RM) Programs. KGH is selflessly serving the cause of humanity with dignity and affection since the last 70 years. The hospital mandates to start higher degree programs for nurses and technicians in the way to achieving excellence in service. Mrs. Saeeda M. Mandviwalla and Mr. Mehmood Mandviwalla, Barrister at Law made their presence as Chief Guests. Mr. Moazzam M. Malik, Chairman & CEO BMA Capital Management Limited was also present at this event.
Addressing the student nurses, Mr. M. Bashir Janmohammad, President, Kharadar General Hospital, lauded them for having chosen this noble and challenging profession. “Nurses are the backbone of medical profession. Nurses heal, comfort and monitor the patients with compassion and diligence. Nurses treat their work not as a profession but take it as a way of life. People may forget what they did or what they said but they will not forget how they felt.”
Mr. Mehmood Mandviwalla, told the students to be mindful of the huge social responsibility they shouldered and try to be the assets for the society. He extended his good wishes to them and said “Today is the day that marks an important turning point for all of you. Until today you have received a great deal of affection and loving feelings from people around you, but from now on you will be the one to give love and affection to those who need them most. You should always remember that the blessings of the Lord will always be there to guide you and I hope each and every one of you will be the light that brightens the people of the world.”
During the ceremony, the nursing students lit lamps signifying hope and love. They pledged to be committed to the respectable profession, to serve the ill, wherever and whenever needed, and to treat the patients with love, respect and dignity.

BMA Capital unveils its new website

Mr. Muddassar Malik, Sponsor Shareholder & Director, BMA Group, inaugurates the launch of the new group website of BMA Capital

The new site embodies the company’s strategic commitment to meet the needs of local and international investors. It provides latest research on Pakistan’s listed corporate sector from our dynamic in-house research team. It also showcases press releases on the company’s recent and past engagements. It can be marked as a central hub to learn more about BMA Group and its commitment. It showcases the depth of everything we do and stand for, providing further insight into our investment approach, our values, our people and the story of our heritage.

The new website features a comprehensive modern design optimized for ease of use, for web, mobile and tab users. “BMA is steadily growing and we wanted an online presence that matches the same level of professionalism and service we provide on a daily basis to our valued clients. The new website will serve as a point of entry for anyone looking to learn more about BMA and we look forward to the new opportunities it will provide in connecting us with new clients and partners.” said Mr. Muddassar Malik, Sponsor Shareholder & Director, BMA Group.

BMA Capital appoints Tauseef Ansari

KARACHI: 09 April, 2015 – BMA Capital Management Limited, Pakistan’s premier financial services group, has appointed Mr. Tauseef Ansari, Executive Director and Head of Corporate Finance & Advisory team in Pakistan.

Mr. Ansari brings over 18 years of rich and varied experience in Financial Services. Prior to joining BMA, he headed the Corporate Finance & Investment Banking teams at Pakistan Kuwait Investment Company (Pvt.) Limited, served as Nominee Director on the Board of Pak Kuwait Takaful Company and as VP, Corporate Finance & Advisory at BMA in 2007 where he successfully mentored OGDCL GDR on the London Stock Exchange. He has also worked for Barclays Bank Plc, Morgan Stanley and The World Bank.

Mr. Ansari is a Chartered Certified Accountant from the Association of Chartered Certified Accountants, U.K. and has also done his M.A in Urdu Literature from Karachi University. He is well versed in Persian language and has keen interest in classical and mystic literature. He has been serving as visiting faculty in NED University of Engineering & Technology and as Guest Speaker in various workshops and seminars at IBA Karachi.

“Mr. Ansari is an industry veteran with experience in leading origination teams focused on sourcing, structuring and executing investment banking transactions. We’re pleased to have Mr. Ansari back at BMA Capital where we are currently engaged in leading private sector M&A transactions and the privatizations of IESCO & LESCO. We believe he will be a significant value addition to our corporate finance service as we continue to focus on growing this business and meeting the needs of our clients”, said Mr. Moazzam M. Malik Chairman & CEO, BMA Capital Management.

Mr. Ansari added, “I look forward to leading BMA Capital’s team that has long-standing relationships and deep industry expertise. Together we aim to expand our Corporate Finance & Advisory business into new territories as companies look to more Mergers & Acquisitions and Equity & Debt Capital Raisings while market conditions continue to improve, in an effort to grow their businesses.”

Financial Advisors for Privatisation of IESCO and LESCO selected

The Privatisation Commission today signed the Financial Advisory Services Agreement (FASA) with a consortium led by BMA Capital, China Development Bank Securities and Pak China Investment Company for privatisation of Islamabad Electric Supply Company Limited (IESCO) and Lahore Electric Supply Company Limited (LESCO).

Speaking on the occasion, the Secretary, Privatisation Commission Sardar Ahmad Nawaz Sukhera, stated “It is imperative to privatise DISCOs and GENCOs as soon as possible since there is no other way to revitalise the faltering system. LESCO & IESCO have very good prospects and investors should take advantage of these investment opportunities.”

On the occasion, Mr. Moazzam M. Malik, Chairman & CEO of BMA Capital said “BMA Capital has been committed to the country’s privatisation program since 1992. We are delighted at the opportunity to work on transactions that will play a very important role in the government’s plan for alleviating energy sector inefficiencies and would help the government in meeting its economic targets.”

BMA Capital is the premier Corporate Finance & Advisory firm in Pakistan. The firm has executed in excess of US$ 12 billion in advisory mandates and over 50% of all privatisation transactions (by value) in Pakistan. These include landmark transactions of US$2.6 billion privatisation of PTCL (the largest FDI into Pakistan till date), US$1.6 billion KAPCO privatisation (largest privatisation of Asia at the time), US$ 811 million OGDCL GDR, US$ 898 million PTCL GDR to name a few. BMA Capital is the only Pakistan based firm to be recognized in the International Mergers & Acquisitions League Tables (Bloomberg, Thomson and FactSet) alongside major bulge bracket investment banks to the likes of Goldman Sachs, Citigroup, JP Morgan, Merrill Lynch & Co and Credit Suisse.