Kolson expresses surprise

KARACHI: M/s K S Sulemanji Esmailji and Sons (Pvt) Ltd (KOLSON), established in 1942, is one of the pioneering companies in producing quality food products in Pakistan. It has actively participated in the development and growth of the FMCG industry by introducing many innovative and unique brands. As a brand, Kolson has a stamp of recognition and appreciation in overseas market too by virtue of its decades old history and as a pioneer export house of processed foods.

The CFO of KS Sulemanji Esmailji & Sons (Pvt) Ltd (KOLSON) commenting on the news item published in The Express Tribune on June 20 has denied the claim of the alleged default mentioned in the story and reported that the current sales are all-time high with solid improvements year-on-year basis. “As a matter of fact June 2010 sales figures have peaked to an all-time high level in the history of the company.” When asked on the reported equity participation of Lotte Confectionery of South Korea, he refused to make any comments.

A senior bank executive who has also arranged the syndicated Islamic Sukuk for KS Sulemanji Esmailji & Sons (Pvt) Ltd (KOLSON) expressed surprise on the story and has denied that the company had defaulted on the installment payment. He confirmed that not only is the Sukuk regular but so are all the other banking lines at the counters of various banks.

The CFO further said that with many initiatives planned, introduced and perfected, Kolson aims to maximise its production capacity with a newly drawn strategy for restructuring the company financially and administratively. The company’s pathway is towards maximising the efficiencies of its capital resources by diversifying into many new and innovative products.

It decisively believes in the enrichment of its promotional capabilities in order to facilitate the marketing and selling process in the new and existing market. The company is also working towards minimising its production costs and maximising its sales volumes. This reflects Kolson’s idiolect, based on its performance with many new developments in pursuit, it says.

Published in the Express Tribune, July 6^th, 2010.