Pakistan Textiles_Sector update May'17, (AKD Daily, Jun 22, 2017)
​Failing to gain momentum, Pakistan's total exports during May'17 fell 9.9%MoM/11.2%YoY to stand at US$1.627bn, where both textile (down 8.5%MoM/12.5%YoY) and food exports (down 9.9%MoM, though up 4.3%YoY) witnessed downward trend. Sliding to 5yr low, textile exports during May'17 declined 12.5%YoY/8.5%MoM to US$938.5mn, where both value added (plunging 13.2%YoY/8.1%MoM to US$686.8mn) and non-value added segment (falling 10.5%YoY/9.4%MoM to US$251.7mn) aided the decline. Resultantly on a cumulative basis, 11MFY17 textile exports now stand 1.98%YoY lower at US$11.234bn (vs. US$11.461bn in 11MFY16), with low-value and value added exports down by 6.2%YoY and 0.2%YoY, respectively. Going forward, downward pressure on textile exports remain likely in the form of: 1) delay in sector pending tax and other incentive claims causing liquidity crisis, 2) stagnant demand scenario, 3) rising raw material cost (CotlookA/KCA: +7%/+8%CYTD) and 4) lack of currency competitiveness (ADXY down 3.4%CYTD against a flat Rupee).
AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.
AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.
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