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Category: IT & Telecom

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  • Listing of TPL Trakker announced through IPO

    Listing of TPL Trakker announced through IPO

    KARACHI: TPL Corp on Friday formally announced the listing of its subsidiary TPL Trakker Limited at Pakistan Stock Exchange (PSX) through an Initial Public Offering (IPO).

    In a notice to PSX, the company said that the board of directors of TPL Trakker Limited (TPLT), a wholly owned subsidiary of TPL Corp Limited, had accorded its approval to TPLT for listing at the PSX.

    The board also granted approval to submit its listing applications before the PSX and SECP as per the applicable rules and regulations.

    TPLT will be offering around 115.72 million ordinary shares of the face value of Rs10 each, at a price of Rs12 aggregating up to Rs1.4 billion by way of an IPO at a fixed price in accordance with the Public Regulations, 2017.

    Earlier, TPL Corp Limited (TPL) held a Corporate Briefing on November 18, 2019 to discuss the financial results of FY19 and future outlook of the company.

    In order to further grow in the vehicle and container tracking business, IoT Business as well as expand into markets abroad, TPL Trakker will file for an IPO, aiming to raise PKR 1.4 billion.

    Moreover, the company is in talks with two foreign strategic investment partners for equity injection.

    TPL Group includes TPL Trakker Limited, TPL Insurance, TPL Properties, TPL Life, TPL Maps, TPL Security Services Private and TPL Rupiya.

  • TPL Trakker plans IPO to raise Rs1.4 billion for vehicle, container tracking business growth

    TPL Trakker plans IPO to raise Rs1.4 billion for vehicle, container tracking business growth

    KARACHI: TPL Trakker is planning for an Initial Public Offering (IPO) to raise Rs1.4 billion in order to grow vehicle and container tracking business, analysts said on Tuesday.

    TPLCorp Limited (TPL) held a Corporate Briefing on November 18, 2019 to discuss the financial results of FY19 and future outlook of the company, said analysts at Arifh Habib Limited.

    In order to further grow in the vehicle and container tracking business, IoT Business as well as expand into markets abroad, TPL Trakker will file for an IPO, aiming to raise PKR 1.4 billion.

    Moreover, the company is in talks with two foreign strategic investment partners for equity injection.

    TPL Group includes TPL Trakker Limited, TPL Insurance, TPL Properties, TPL Life, TPL Maps, TPL Security Services Private and TPL Rupiya.

    Despite decline in sale of vehicles, TPL Trakker business reported revenue growth of 7 percent YoY led by Container Tracking and new IoT Business.

    During the year, the company launched four IoT businesses (video telematics, fuel management solution, water management solution and smart warehousing and inventory management) and usage based insurance.

    Moreover, the company is also venturing into software-as-a service platforms, such as Pay-How-You-Drive Insurance and Predicative Maintenance.

    Though, investment in new business initiatives and higher interest rates led to decline in Bottom-line of the business by 63 percent YoY in FY19, the analysts said.

    TPL Maps and TPL Rupiya are now merged with TPL Trakker Limited since these companies will benefit from TPL Trakker’s large customer base along with TPL Trakker benefiting from technical expertise of TPL Maps.

    TPL Maps during the year has developed four new solutions; i) goconnect (location based advertising service), ii) LEAP (solution with respect to demographics, based on location), iii) TPL Maps Service (serving clients such as Bykea, Ufone, Telenor, Cheetay and Eat Mubarak) and DART (solution related to workforce and supply chain monitoring, currently serving KFC and Dominos).

    Furthermore, TPL Maps Solution will be making its way in Middle East market in 2020, partnering with HERE Technologies.

    In order to further grow in the vehicle and container tracking business, IoT Business as well as expand into markets abroad, TPL Trakker will file for an IPO, aiming to raise PKR 1.4bn.

    Moreover, the company is in talks with two foreign strategic investment partners for equity injection.

    TPL Insurance has entered into the company’s first livestock insurance covering 2000 cattle’s in Thar District.

    Furthermore, Afghan Transit Trade Guarantee was also initiated in July 2019. Other than this, TPL has also entered into partnerships with nine companies in Pakistan.

    The company has also launched a mobile app which can instantly start insurance plans without many formalities and documentations.

    In the TPL Properties Business, the revenue has climbed up by 8 percent YoY in FY19, on account of growth in rental income.

    Furthermore, the company has ventured into providing real estate development services to corporates.

    However, due to cessation of commercialization in Karachi land acquisition of Project Alpha has been delayed.

    Whereas, for Project Beta a new real estate commercial land is being acquired, which will be used for mixed purposes such as Hotels and offices.

    Furthermore, One Hoshang Project, which will be a residential apartment tower and showroom, is slated to be completed in 2023.

    Moreover, the company is underway to enter into REIT management business. With this, Centre point building will be included in REIT Scheme. Along with this the company also plans to setup Logistics Park.

    In TPL Life Business, the topline has seen 31% YoY in FY19, amid time based life insurance via mobile. The company offers usage based life insurance for individuals through mobile app.

    Also TPL Sahulat, health solution via mobile app, is also successful. The app offers doctors at home, delivery of medicines at home, lab tests at home and settlement of claims. Furthermore, in order to target low income earners the company offers Life Insurance through scratch cards, available at as low as Rs375. For the purpose of growth, the company seeks funding of PKR 400-500 million.

    The company is currently working on developing a social and corporate messaging platform (Tello Talk) which will enable the users to transfer payments and manage transactions with businesses.

    Furthermore, its rider service app will provide a delivery platform to e-tailers (online retailers).

    Overall, consolidated profit after tax of TPL Corp plummeted by 74 percent YoY, settling at Rs172 million in FY19 against PKR 670 million in the FY18.

    This massive decline is attributable to Pak Rupee devaluation against USD, and interest rate hikes.

  • Hafeez Shaikh calls for early resolution of pending issues between PTCL, Etisalat

    Hafeez Shaikh calls for early resolution of pending issues between PTCL, Etisalat

    ISLAMABAD: Dr. Abdul Hafeez Shaikh, Adviser to the Prime Minister on Finance and Revenue on Thursday directed early resolution of pending issues between PTCL and Etisalat.

    Dr. Abdul Hafeez Shaikh has called for an early resolution of all outstanding issues regarding the PTCL privatisation with Etisalat and asked the stakeholders to finalise proposals on the subject within the next couple of weeks.

    He made this statement while chairing an Inter-Ministerial Committee constituted by the Prime Minister to discuss and resolve the issues related to the PTCL’s Privatisation.

    Minister for Privatisation Muhammad Mian Soomro, Minister for Information Technology Khalid Maqbool Siddiqui, Secretary Finance, Secretary Privatisation, Secretary Information Technology and Telecommunication and other senior officials were also present.

    During the meeting, the adviser was given a detailed briefing on the issues concerning the transfer of properties to Etisalat and the pending payments still to be made by Etisalat.

    The adviser called for greater efforts to resolve the outstanding issues in a smooth and amicable manner and asked the government team to contact the senior management of Etisalat to listen to their viewpoint and decide the unresolved issues at the earliest as any further delay was not in the interest of both the parties.

  • Mobile phone imports sharply increase by 86 percent to Rs61 billion in four months

    Mobile phone imports sharply increase by 86 percent to Rs61 billion in four months

    ISLAMABAD: Pakistan – the country endeavoring to reduce import bill to control external sector challenges – has imported mobile phones amounting Rs61 billion, during first four months (July – October) 2019/2020 which is 86 percent higher than corresponding period of last fiscal year.

    The mobile phone import was Rs61 billion during first four months of current fiscal year as compared with Rs32.7 billion in the corresponding months of the last fiscal year, Pakistan Bureau of Statistics (PBS) said on Tuesday.

    The unprecedented growth in mobile phone can be attributed to significant decline in rupee value during the last year.

    However, in dollar terms the import remained higher by 49 percent. The country spends $388 million on import of mobile phones during July – October 2019/2020 as compared with $260.41 million in the corresponding period of the last fiscal year.

    Sources in Pakistan Customs said that the phenomenal increase in mobile phones was due to anti-smuggling measures taken by the government.

    They said that now a mobile phone would have active network only when it was verified through a system introduced by Pakistan Telecom Authority (PTA).

    The sources said that mobile devices are required to verify their IMEI through phone registration system of the PTA otherwise such phones would not have connections of existing cellular networks in the country.

    The source said that in the past a huge number of mobile phones were brought in the country without paying duty and taxes. But now those mobile that were not offered for registration would not be activated.

    The import of mobile phone witnessed even sharp increase in October 2019 to $118.65 million as compared with $61.19 million in the same month of the last year. Similarly, in terms of rupee the import registered 132 percent to Rs18.5 billion in October 2019 as compared with Rs7.98 billion in the same month of the last year.

  • Committee directs PTA to take harsh measures against hate speech on social media

    Committee directs PTA to take harsh measures against hate speech on social media

    ISLAMABAD: The Standing Committee on Cabinet Secretariat on Wednesday directed Pakistan Telecommunication Authority (PTA) to take harsh measures against hate speech and religious intolerance on social media.

    The Committee met under the chairmanship of Syed Amin-ul-Haque, MNA in Parliament House and directed PTA to assert its regulatory role on telecommunication sector for improvement in service delivery and coverage in far flung areas.

    The Committee also directed PTA to take stringent measures to address the menace of hate speech and religious intolerance on social media.

    The Committee was given a comprehensive briefing about the regulatory mechanism of PTA and its future initiatives.

    The Chairman PTA apprised the Committee that PTA was actively pursuing its role as regulator on the telecommunication sector.

    He informed that PTA had ensured service delivery in accordance with the terms and conditions specified in the telecommunication licenses, modernization of services, regulate competition between telecom operators besides protecting consumers’ interests.

    Responding to a query of a Member, the Chairman PTA apprised that the Authority also ensures effective compliance of telecom services in far-flung areas by operators through Universal Support Fund (USF).

    He assured that PTA would take up the provision of telecom services through USF in Baluchistan and erstwhile FATA Districts.

    The Chairman PTA further informed that installation of Mobile Towers especially in the residential areas was allowed after a stringent process of verification and compliant to universal health and safety standards.

    The Committee appreciated the performance of PTA, however, directed to take appropriate measures against fraudulent element defrauding people of their money through mobile networks, obscenity, spreading hate speech, sectarianism and religious intolerance.

    He informed that investment conducive environment created by government had resulted in 70 percent rise in mobile devices assembly which would ultimately result in their manufacturing in Pakistan.

    The Committee while reviewing compliance of Committee’s earlier directives/recommendations appreciated the timely response by the Establishment Division.

    The Committee recommended for developing Standard Operation Procedure for disposal of cases of deputation in Federal Government Department under wedlock policy.

    The Committee directed Federal Public Service Commission to conclude inquiry into the alleged unauthorized amendment in FPSC rules within six weeks.

    The meeting was attended by Ali Muhammad Khan, Minister of State for Parliamentary Affairs MNAs; Ali Nawaz Awan, Aamir Talal Gopang, Muhammad Aslam Khan, Ms. Uzma Riaz, Mir Ghulam Ali Talpur, Mohsin Dawar, Additional Secretary, Establishment, Chairman PTA, Secretary Federal Public Service Commission and Senior Officers of the concerned departments.

  • PTA warns three-year jail for tampering communication devices

    PTA warns three-year jail for tampering communication devices

    KARACHI: Pakistan Telecommunication Authority (PTA) has warned harsh punishment including three years jail terms for persons tempering communication devices.

    The regulator on Friday warned that under prevailing law persons engaged in any unlawful activity such as tempering or altering communication equipment would be liable to harsh penalties.

    Section 18 of Prevention of Electronic Crimes Act, 2016 explains penalties for tempering or altering communication devices.

    18. Tampering, etc. of communication equipment.- Whoever unlawfully or without authorization changes, alters, tampers with or re-programs unique devices identifier of any communication equipment including a cellular or wireless handset and starts using or marketing such device for transmitting and receiving information shall be punished with imprisonment which may extend to three years or with fine which may extend to one million rupees or with both.

    The Act explains that a unique device identifier is an electronic equipment identifier which is unique to a communication device.

  • Enfrashare, Telenor sign agreement to develop connectivity infrastructure

    Enfrashare, Telenor sign agreement to develop connectivity infrastructure

    KARACHI: Enfrashare Pakistan Private Limited and Telenor Pakistan, one of Pakistan’s top mobile network operators, have signed an agreement to develop connectivity infrastructure, a statement said on Tuesday.

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  • Pakistan spends Rs42.4 billion for import of mobile phones in three months

    Pakistan spends Rs42.4 billion for import of mobile phones in three months

    KARACHI: Pakistani nationals have spent Rs42.4 billion for import of mobile phones in three months despite challenging economic conditions.

    The import of mobile phones registered 71.5 percent growth to Rs42.4 billion during first quarter (July – September) of fiscal year 2019/2020 as compared with Rs24.72 billion in the corresponding period of the last year, official statistics revealed.

    It is interesting to note that the surge in import of mobile phones has been witnessed when the economy is facing challenges and imports of other things are on declining trend.

    Sources in Pakistan Customs said that the substantial increase in mobile phones was due to anti-smuggling measures taken by the government.

    They said that now a mobile phone would have active network only when it was verified through a system introduced by Pakistan Telecom Authority (PTA).

    The sources said that mobile devices are required to verify their IMEI through phone registration system of the PTA otherwise such phones would not have connections of existing cellular networks in the country.

    The source said that in the past a huge number of mobile phones were brought in the country without paying duty and taxes. But now those mobile that were not offered for registration would not be activated.

    The sources further attributed the sharp increase in value to massive decline in rupee value.

    In dollar term the import of mobile phones posted 35 percent increase to $269 million during first quarter of current fiscal year as compared with $199 million in the same period of the last fiscal year.

    The import of mobile phones in September 2019 witnessed even more sharp increase of 69 percent in dollar term and 113 percent in Pak Rupee term.

    In term of Rupees the country imported mobile phones worth Rs16.48 billion in September 2019 as compared with Rs7.73 billion in the same month of the last year.

  • PTCL declares 14.33 percent growth in after tax profit

    PTCL declares 14.33 percent growth in after tax profit

    KARACHI: Pakistan Telecommunication Limited (PTCL) on Wednesday declared 14.33 percent growth in profit after tax for the nine-month period ended September 30, 2019.

    The company announced profit after tax of Rs5.46 billion during January – September 2019 as compared with Rs4.78 billion in the same period of the last year.

    The company announced Rs1.07 as earnings per share (EPS) for the period under review as compared with Rs0.94 EPS of the same period in last year.

    The total revenue of the company was flat at Rs43.774 billion in January – September 2019 as compared with Rs53.55 billion in the corresponding period of the last year.

    PTCL posted gross profit of Rs13.179 billion during nine-month period ended September 30, 2019 as compared with Rs13.721 billion in the same period of the last year.

    The administrative, general and selling/marketing expenses of the company were at Rs8.73 billion during January – September 2019 as compared with Rs8.478 billion in the same period of the last year.

    Other income of the company increased to Rs3.82 billion as compared with Rs2.18 billion.

    The profit before tax for the period was at Rs8.03 billion as compared with Rs6.927 billion in the same period of the last year.

  • Zong partners with Enfrashare to expand 4G network

    Zong partners with Enfrashare to expand 4G network

    KARACHI: Zong 4G, Pakistan’s leading telecommunication network, has entered into a strategic partnership with Enfrashare Private Limited, a leading connectivity infrastructure provider.

    The partnership will support Zong 4G’s expansion of its largest 4G network of country to provide better coverage and an unrivaled subscriber experience, said a statement on Monday.

    With more than 12,000 4G sites across Pakistan, Zong 4G is the country’s leading 4G network with over 13 Million 4G subscribers.

    The company is at the forefront of digital revolution, empowering people from all walks of life to experience best-in-class digital experience.

    Enfrashare, with its expertise and investment in connectivity infrastructure, allows Mobile Operators to reduce the cost of access to consumers.

    Owned by one of the largest groups in Pakistan (Engro Corp), Enfrashare was formed with the vision to help enhance digital connectivity throughout the country. It aims to engage with all stakeholders in telecom’s ecosystem in order to realize their goal of digitizing the nation.

    Commenting on the partnership Zong 4G’s Spokesperson said: “Zong 4G is committed in its ambition of building the digital Ecosystem of Pakistan. In a bid to further augment the user experience, Zong 4G has partnered with Enfrashare to further expand its network outreach.

    “Our customers experience is our first priority, and through this partnership our customers will benefit directly from our state-of-the-art mobile network for a seamless digital experience.”

    Speaking at the ceremony, Rehan Hassan from Enfrashare, stated, “Enfrashare firmly believes that connectivity is a basic human need, it is the conduit that enables social and financial inclusion.

    “We are very proud of what we have accomplished in a short span of time, since our inception last year. This agreement allows us to work with one of the most respected operators in the country to provide enhanced solutions.

    “Enfrashare’s vision goes beyond just towers to enable broader connectivity, and encompasses all necessary components including towers, fiber, energy and more. This partnership marks the beginning of a new journey, where the two key members of telecom’s ecosystem will bring together their expertise and enhance the country’s connectivity.”

    Zong 4G’scollaboration with Enfrashare affirms both companies’ vision and commitment to enhance the connectivity infrastructure landscape in the country as well as complements the ambition of building a Digital Pakistan.