Profile of Board of Directors
Mr. Muhammad Iqbal Usman
Chairman Board of Directors
Iqbal Usman is by profession a fellow member of Institute of Chartered Accountant Of Pakistan. He was member of the Karachi Stock Exchange (Guarantee) Limited in his personal capacity in the year 1990. He was the founder of the BMA Capital Management Limited, corporate member of the Karachi Stock Exchange. He has started his Career as tax consultant and practitioner as Chartered Accountant in the year 1969. Since his retirement, he is involved in various industrial, financial, construction, real estate and textile sector. Presently he involve in construction of a well-known Flat Site Building in Bath Island Karachi.
He is presently involved in following companies in various capacities:
- Acme Mills (Pvt) Limited a medium size weaving unit in Karachi.
- Suraj Cotton Mills Limited a large size Textile Mills in Sind and Punjab
- Javedan Cement Company Limited and also Chairman its Audit Committee.
- BMA Asset Management Company a leading fund Management Company and also Chairman its Audit Committee.
- Icon Global (Pvt) Limited a medium size export oriented company.
Mr. Asim Ghani
Chief Executive Officer
Mr. Asim Ghani is serving as a director in Al-Abbas Sugar Mills Limited. He is playing very key role in affairs of the Tank Terminal operations and regularly taken strategic decision over procurement of molasses. He has done his Master’s in Business Administration. Mr. Asim has very extensive experience in procurement and handling of molasses. Besides, this he acts as Executive Director in managing the daily affairs of Dhabeji unit of the Al-Abbas Sugar Mills Limited.
Javedan Corporation Limited
Mr. Duraid Quresh
Mr. Duraid Qureshi is the Chief Executive Officer (CEO) of HUM Network Limited, (satellite Channel). From 2001-2003 he was the CEO of Eye Entertainment. Prior to this he was the Chief Operating Officer of Al-Abbas Sugar Mills Limited responsible for all operating work at the mill. Mr. Duraid Qureshi holds Master’s degree from Lahore University of Management Sciences (LUMS).
HUM Network Limited
Mr. Irfan Nasir Cheema
Mr. Irfan Nasir Cheema joined profession of law as practicing lawyer on 7th October 2004. Since then he is participating actively in law practices and was enrolled as an Advocate High Court in Lahore High Court in December 2006.
Mr. Cheema established his law firm with the name and practice “Human Rights Defenders” in 2006. He specialized in dealing criminal appeals, murder references and constitutional matters.
Mr. Suleman Lalani
Mr. Suleman Lalani joined Jahangir Siddiqui & Co. Limited (JSCL) on March 1, 2012 as Chief Executive Officer. Prior to joining JSCL he was Executive Director Finance & Operations and Company Secretary of JS Investments Limited where he served as CFO and Company Secretary for seven years.
Mr. Lalani started his career with JSCL in 1992 where he worked for over eight years. In year 2000 he was promoted to the position of Chief Operating Officer of Jahangir Siddiqui Investment Bank Limited, a subsidiary of JSCL. In January 2002 he joined The First MicroFinance Bank Limited as its Chief Financial Officer and Company Secretary.
Mr. Lalani is a Fellow member of the Institute of Chartered Accountants of Pakistan and has 20 years of experience in the financial services sector. He has also completed the Board Development Series Certificate Program conducted by the Pakistan Institute of Corporate Governance.
JS Investments Limited – Director
Jahangir Siddiqui & Co. Ltd. – Chief Executive Officer
Mr. Zakria Usman
Mr. Zakria Usman currently involved in M/s.Jakkey Traders Company for Imports & Exports since 1976 specially Plastic Machines & Raw Materials, SITE Karachi as a proprietor. He is also a Managing Director at ACME MILLS (PVT) LTD. A-3, SITE Karachi,Textile Weaving Industry, Manufacturing of Home Textile.
He is a Partner at PERFECT ENGINEERING WORKS (A Unit of Manufacturing Plastic House hold & Thermo ware Product), PERFECT MULTIPLE INDUSTRIES (A unit of Manufacturing Door Skin) and Map Panel & Board – Lamination Unit of Wood.
Mr. Zakria Usman has completed Textile Engineer From W.Germany. Acquired Training with International Firm like BASF, BAYER, FAMATEX, KARL MAYER & RUTI OF EUROPE. Also Associate Engineering Diploma from Karachi Polytechnic in 1968.
Ms. Darakshan Abdul Ghani
Ms. Darakshan Abdul Ghani has completed her graduation and is now currently pursuing her career in the field of accounts as Association of Chartered Certified Accountant (ACCA). She has completed her internships in Central Depositary Company Limited (CDC), Hum Television Network and A.F Ferguson And Company as an audit trainee. Furthermore, she has achieved Academic Excellence Award 2009.
Mrs. Asma Aves Coachinwala
Mrs. Asma Aves Coachinwala has completed her graduation from University of Karachi. She has completed her internship in Central Depositary Company Limited (CDC). She is currently managing family businesses.
Mr. Zakaria Usman – Member
Ms. Darakshan Ghani – Member
Mr. Duraid Qureshi – Member
Ms. Ms. Asma Aves Cochinwala – Member
Chief Executive Officer – Mr. Asim Ghani
Company Secretary – Mr. Zuhair Abbas
Chief Financial Officer – Mr. Samir Hajani
Head of Internal Audit – Mr. Suhaib Afzal
Head of Admin and Human Resource – Mr. Mohammad Azim-Ud-Din Qureshi
Head of Procurement – Mr. Shabbir Hussain
General Manager Plant Mirwah – Mr. Ghulam Muhammad Soomro
General Manager Production Mirwah – Mr. Arif Hussain
General Manager Mechanical Mirwah – Mr. Umer Bozdar
General Manager Operation Dhabeji – Mr. Aves Coachinwala
Human Resource and Remuneration Committee
Mr. Mr. Muhammad Iqbal Usman – Chairman
Ms. Darakshan Abdul Ghani – Member
Ms. Asma Aves Cochinwala – Member
Mr. Asim Ghani – Member
Statement of Ethics and Business Practices
AL-ABBAS SUGAR MILLS LIMITED is aiming to produce high quality product and provide service to its customers with transparency and professionalism. We also try to ensure and safeguard the interests of all stakeholders.
Following principles from the basis for the above statement:
We care about quality of our product and try to compete nationally and internationally.
We always try to update ourselves with introduction of new technology and promote culture of change of in our company.
We maintain highest degree of technical standards.
Dealing with employees
We try to recognize and reward all of our employees for their performance.
We provide very friendly working atmosphere for all our employees and treat them as family members.
All employees are treated uniformly according to their organizational status.
Compliance with the law of country
We always adhere to the prevailing laws. Utmost care is taken by us to discharge all our legal responsibilities.
Internal control and financial reporting:
We have implemented a very sound and reliable internal control system in our organization, which is well understood by all of our employees and parties dealing with us.
Financial planning is a core activity of our system through which we ensure efficient and effective utilization of financial and human resources.
Financial reporting system employed by us is very effective and transparent and is being relied upon by society at large.
Dealing with our suppliers and service providers:
We only purchase from very reliable parties, acquire service of competent people and ensure to safeguard their interests by taking all necessary steps in dealing with them strictly on fair basis.
We always try to build confidence, reliability and trust by ensuring fulfillment of our commitments with suppliers and service providers.
Goal of the company:
We always strive to produce high standard products whether it is for local or international markets.
We provide reliable information to our business partners.
We keep our assets in superfine condition and safeguard them from all possible risks.
Name and Address of Auditor
Haroon Zakaria & Co. 210, Progressive Plaza, Plot No. 5 – CL – 10, Civil Lines Quarter, Beaumont Road, Karachi, Pakistan.
Mohammad Naseem & Co. Advocate
Hafeez Pirzada Law Associates
Usmani & Iqbal
Ch. M. Ashraf Khan
Mr. Abdul Rahim Lakhani
Siddiqui & Raza
ORR. Dignam & Co
M/s Khalid Anwer & Co
PATTERN OF SHAREHOLDING
Code of Conduct
Procurement of Goods and Services Policy
Governance of Risks and Internal Control Measures Policy
Determination and Delegation of Financial Power Policy
Communications and Investor Relations Policy
Chairman and CEO Policy
Borrowing of Money Policy