The Pakistan Credit Rating Agency has upgraded long term rating of ORIX Leasing Pakistan Limited (OLP) to AA+ (Double A Plus) [Previous: AAI] while short term rating has been maintained at Al+ (A One Plus).

The rating for the Term Finance Certificate (TFC) of PKR 1,000 million has also been maintained at 'AA+' (Double A plus). The ratings denote a very low expectation of credit risk. They indicate very strong capacity for timely payment of financial commitments.

The ratings of OLP reflect consistent improvement both operationally and financially in the recent years. Established business profile of the Company emanating from its leading position in leasing industry, well-rooted penetration into target market, diverse product portfolio, and good management quality remain key factors in the ratings. The ratings, inter alia, recognize efforts in strengthening role of risk management in underwriting new business, curtailing NPLs, controlling cost structure, and improving profitability. Cognizant of the Company's business objectives and subdued economic environment, the management is following a cautious growth strategy with emphasis on improving its core margins. The ratings continue to draw comfort from historically demonstrated commitment of ORIX Corporation, Japan towards its operations in Pakistan.

ORIX Leasing Pakistan Limited launched “Auto Privilege Card” at a ceremony held at a local hotel on Monday 22^nd Oct, 2012. The ceremony was attended by representatives of the participating merchants as well senior officials of the Company.

Speaking on the occasion, Mr. Teizoon Kisat Chief Executive Officer of ORIX Leasing Pakistan Limited introduced the Company and the group. He informed that ORIX Leasing Pakistan, an associate of ORIX Corporation of Japan, is Pakistan’s largest and most diversified leasing company established since 1986 and having presence in 25 cities across the country. He informed that ORIX is the pioneer of third party card operations network in the country which the Company launched in 2002 and has launched its own loyalty card for the first time which is a value addition to the auto lease product.

Mr. Giasuddin, Head of ORIX’s eBusiness Division also spoke on the occasion. He traced the history of card operations network of ORIX Leasing and informed the audience about the experience of the Company in launching and promoting various cards. He also delved on the technological side of the card operations.

Mr. Hamood Ahmed, Head of ORIX’s Consumer Auto Division introduced the Auto Privilege Card. He informed the Card is a value addition designed to acknowledge customers’ loyalty and trust in ORIX Leasing Pakistan’s auto lease product. The card, designed for auto customers of the Company, provides attractive discounts at various retail outlets and restaurants in Karachi, Lahore and Islamabad. He thanked the participating merchants on partnering with ORIX Leasing for the Privilege Card and hoped this first step will go a long way in further establishing customers’ confidence in ORIX Leasing.

Later Mr. Kisat distributed Certificates among the merchants.

OLP-Engro joint Project EMAN won the Silver (merit) Award under the e-Inclusion & e-Community Applications Category in Asia Pacific ICT Awards (APICTA) held in Thailand,. A total number of 170 solutions from 11 countries in the Asia-Pacific region were presented this year. By winning this prestigious award, OLP has once again earned recognition at global level for its innovative products.

Engro Milk Automation Network (EMAN) is a unique program developed by ORIX eBusiness for Engro Foods Limited. It is a card based solution allowing Engro to record timely transactions for their vast rural milk procurement network. Through this program, Engro has timely access to key information pertaining to the inventory of raw milk across its supply chain.

Earlier P@ASHA ICT Awards for 2011 were held in Karachi in October where 100+ entries were received in 25 categories. OLP eBusiness Program EMAN 100+ won the award in e-Inclusion & e-Community Applications Category that qualified it for participation at APICTA under the same category. 

Pakistan Software Houses Association (PASHA) is a platform for promoting, protecting and developing the software industry in Pakistan. PASHA initiated P@SHA ICT Awards in 2004 to provide recognition to software and service applications that have been developed in Pakistan. These awards have become recognized as the flagship ICT industry event in Pakistan.   

Following link gives detailed account of the APICTA 2011 ceremony:  

http://www.newslinemagazine.com/2011/11/pakistan-shines-at-the-asian-pacific-ict-awards/

OLP Consumer Auto Division (CAD) recently participated in the 6th Expo Pakistan held at Karachi Expo Centre from 20th to 23rd of October 2011. Expo Pakistan is one of the biggest exhibitions held in the country. Not only does it provide an exposure to the Pakistani companies but also an ideal opportunity to the multi national companies to show case their strong presence in the Pakistani market.

The Japan External Trade Organization (JETRO) had set up a platform for the top 12 companies (Japanese or affiliated with Japanese companies), under the name of “Japan Pavilion”, in which OLP CAD actively took part along with the Treasury Division.

During the course of four days, around 2000 individuals came across the brand of OLP. Not only did this event help create awareness about the services of ORIX Leasing Pakistan Limited (OLP) but also a number of queries were generated from the potential customers. The main purpose to participate in this expo was to show OLP’s strong presence in the country for the last 25 years and also to give relevant information about the services of OLP, specifically Auto Lease.