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.”

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”

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

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.”

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.