Wateen

Only available on StudyMode
  • Download(s) : 113
  • Published : January 18, 2013
Open Document
Text Preview
CONTENTS
03. 03. 04. 05. 06. 08. 09. 10. 20. 21. 22. 23. Corporate Vision & Mission Core Values and Ethics Chairman’s Message CEO’s Message Board of Directors Corporate Information Financial Highlights Director’s Report Attendance of Board Members Statement of Compliance (CCG) Review Report to the Members Auditor’s Review Report to the Members

Financial Statements 26. Balance Sheet 28. ProfitandLossAccount 29. Statement of Comprehensive Income 30. Cash Flow Statement 32. Statement of Changes in Equity 33. Notes to and Forming Part of Financial Statements Consolidated Financial Statements 61. Auditor’s Report to the Members 62. Consolidated Balance Sheet 64. ConsolidatedProfitandLossAccount 65. Consolidated Statement of Comprehensive Income 66. Consolidated Cash Flow and Statement 68. Consolidated Statement of Changes in Equity 69. Notes to and Forming Part of the Consolidated Financial Statements Annexures 99. Pattern of Shareholding 101. Category of Shareholders 106. Notice of Annual General Meeting 107. Form of Proxy

wateen telecom ltd

ANNUAl RePORt 2010

1

COMPANY reVIeW

TRUST TEAM WORK QUALITY

2

ANNUAl RePORt

2010

wateen telecom ltd

COrpOrate

VISIoN

ateen’s vision is to take Pakistan into the digital revolution of the 21st century by offering complete communications and media solutions such as Telephony, Internet, Data and TV / Multimedia to the public at large based on quality, affordability, availability and reliability. To make Pakistan a regional communications hub, inter-connecting the East with the West and Central Asia to the Middle East.

W

MISSION
Offer affordable communication services that cater to the needs of our customers. Deliverhighquality,flexiblesolutionsthatallowcustomerssavings,choiceand enhancedefficiency. Make ‘Broadband Pakistan’ a reality. Achieve maximum customer satisfaction at all levels. Provideinnovative,efficientandcreativesolutions.

Core

Values

&

ethICS

Respect for others – We deeply value diversity in background, strengths, interests and experiences Integrity and honesty – We conduct our business with uncompromising integrity Open communication – We believe in nurturing positive changes in the organisation and the community Customer satisfaction – We strongly believe in our passion for customers, partners and technology LeadershipWepracticeandcultivatethewilltoexcelandtakingonbigchallenges Synergies and strategic partnerships – We value maximising growth opportunities and stimulate atmosphere of healthy competition Our values guide our behaviours and shine through in all our interactions with each other and our stakeholders.

wateen telecom ltd

ANNUAl RePORt 2010

3

Chairman’s Message
Dear Shareholder, On behalf of the Board of Directors, I am pleased to announce the financial results and audited statements for Wateen Telecom. At its inception in 2005, we had envisioned a simple goal: to build a worldclass, reliable communication and media network to deliver top of the line affordable service to the people of Pakistan. We have so far, by the Grace of Allah, been able to achieve part of the dream. In spite of challenging macro economic conditions, the main focus has been to strategically capture growth opportunities while scaling capital expenditureandintroducingmeasuresforcostefficiency.Despitethese concerns, Wateenhasposted aGrossProfitmargin of39% and also posted a positive operative margin of Rs. 409 million. Althoughthechallengingconditionshavebroughtinhigherinflationand increased competition, we are confident that Wateen will continue to do well in Pakistan and we welcome an exciting environment. We are certain that Wateen is geared to meet these challenges because of our preparations and organisational restructuring that has been put in place over the past few years. These building blocks will lead us to a more...
tracking img