|
|  |
| Summary of Project Information (SPI) |
| This Summary of Project Information is prepared and distributed to the public in advance of the IFC Board of Directors’ consideration of the proposed transaction. Its purpose is to enhance the transparency of IFC’s activities, and this document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. |
 | |
| Project number | 21614 |
| Project name | TRG Pakistan Limited |
| Country | Pakistan |
| Sector | Information |
| Department | Global Inform. & Comm. Tech. |
| Company name | TRG Pakistan II Limited |
| Environmental category | C |
| Date SPI disclosed | February 3, 2004 |
| Projected board date | February 27, 2004 |
| Status | Active |
| Previous Events | Invested: October 18, 2004
Signed: June 17, 2004
Approved: May 5, 2004 |
|
| Description of company and purpose of project |
| TRG Pakistan Limited (TRG or the company) operates a call center in Lahore, Pakistan, and plans to expand its local operations and invest overseas in order to diversify its operations. The company was established in 2002, and had consolidated revenues of approximately $280,000 during that year. |
|
| Project sponsor and major shareholders of project company |
The major sponsors are Zia Chishti (Chairman and CEO, former founder, CEO, and Chairman of Align Technology), Atiq Raza (Board member and CEO of Raza Microelectronics, USA, former Chairman of AMD Microsystems), Peter Riepenhausen (Board member and former Senior EVP, Pepsico), and Asim Abdullah (Board member of Commerce One)
Major Shareholders
TRG is publicly listed on the Karachi Stock Exchange. The company’s major shareholders include United Bank Limited, National Bank of Pakistan, Zia Chishti, and Habib Bank Limited. |
|
| Total project cost and proposed IFC investment |
| Total project cost is expected to total $29.4 million. A Rights Issue is currently planned in the Pakistan market. IFC is considering an investment of up to $5 million in equity shares of the company. |
|
| Location of project and description of site |
TRG’s call center operations are located in Lahore, Pakistan. TRG also has operations in the US oriented toward sales/marketing of its services. |
|
| Project Development Impact and IFC's Role |
Development Impact
TRG represents a major initiative for the call center industry in Pakistan, which remains in an early stage of development. The company is currently the largest call center in Pakistan, with over 100 employees in the country. The expansion of this capacity under the project would generate significant jobs in Pakistan over 3-5 years and provide a demonstration effect for other operations in the country. The company will employ a significant number of women and maintain a world-class working environment. The project will provide an example for companies seeking to tap pools of educated, English-speaking populations in a wide range of countries – extending the reach of the call center and BPO industry beyond the current areas of strength in India and the Philippines.
IFC Role
IFC’s participation in the proposed project could have a significant impact on the future development of Pakistan’s BPO market and IT industry overall. Currently, Pakistan’s BPO industry is in early stages of development, with no major players apart from the company. TRG has a credible plan to catalyze the growth of this sector in Pakistan. IFC’s financing will help assure success of the Rights Issue currently planned in Pakistan. In the medium term, the company also views IFC to be a strategic partner in the company’s expansion into other emerging markets. As a shareholder, IFC is expected to lend credibility to TRG in the international marketplace, which will assist the company in obtaining funding for future expansion and securing contracts with major multinational companies. |
|
| Environmental and social issues - Category C |
This project is a category C project according to IFC’s environmental and social review procedures. The company uses leased furnished office has no immediate plans to construct or purchase a building. Therefore, no further environmental or social analysis is required.
|
|
| To contact the project company, please write to: |
Mohammad Ali Jameel
Executive Director / Company Secretary
39-K, Block 6
PECHS, Karachi
Pakistan |
|
|
|