Project Finance Essay

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Azgard 9 Limited

The Origins and Inception
Azgard 9 in the ancient legend “Azgard” was one of nine worlds in Norse Mythology; it was protected by “Heimdall” the son of nine different mothers each attributing him with a particular skill and power and thus he would protect Azgard from the powers that be.
The significance of nine for our company is not just based on this mythology but also connected with the auspicious nature of this number throughout many different elements in and out of the world today that affect humans and their behaviours. The number nine is considered to be an auspicious and important number in Indian, Chinese, Japanese and Greek cultures for various different reasons.

In Chinese culture the number nine represents ‘Change ‘and ‘Transformation’, as is the case with Azgard Nine which is changing and transforming itself into an entity with new goals, aspirations and targets. Nine in much of ancient Greek mythology also has represented gestation and fulfilment of creation as it does for us at Azgard Nine the ‘Fulfilment of creation’ for us being the forming of this global entity by nine members on the ninth day of February sowing the seeds for an auspicious and rewarding future.

History of Azgard9
Azgard-9 Nine Limited is one of the oldest business groups on the Asian sub-continent. It was started as a family business over four generations ago. The Sheikh Family, now in the fourth generation, is one of the oldest business families in the Subcontinent with experience in many different sectors. The family began its first operations in 1886 as a first Ginning factory in Shamkot India. After the formation of Pakistan in 1947, the group saw massive growth, whilst consolidating its position in the market. At the end of this period the group employed over 15000 people. In 1972 the group became international by expanding to Ireland in the textile sector. In 1978 the group established a presence in the United States by acquiring Burke Mills Inc. in North Carolina. By 1980 this presence was also expanding and fortified with the addition of another company Tennessee Textiles. The group was now solidly focused on the textile sector. AZGARD NINE LIMITED was set up in 1994 as a fully integrated vertical denim unit for fabrics and garments in collaboration with LEGLER SPA. Of Italy. In 1996 they expanded their American operations to Mexico where they set up a yarn twisting operation as another joint venture between the NAFEES group and the Alpha group, which is the largest industrial group in Mexico.

Vision
To become a major regional global Fashion Apparel Company.

Mission
To retain a leadership position as the largest value added denim products Company in Pakistan.

Core Values
(a) Respect for all
(b) Integrity
(c) Hard Work
(d) Ethics

(a) Respect for All
Does not discriminate on the basis of race, religion or ethnic background.
Respect for Women
Strongly prohibit all forms of harassments. For example racial, sexual or any kind.
Attract, retain and develop outstanding people.

(b) Integrity
Honesty to self, colleagues and Azgard9.

(c) Hard Work
Company mission can be only achieved by hard work.
Honesty and hard work is appreciated and rewarded such as:
(i) Incentives upon achievement of target.
(ii) Performance based incentives and promotions.

(d) Ethics
Professional behaviour shall be entertained. e.g. gifts and favours will not be accepted
Personal beliefs of employee will be respected.
Responsibility and accountability.
Changes in Policies/Procedures shall be informed beforehand to the concerned individuals.

Detail of Permissible Business Activities
The Company is a composite spinning, weaving, dyeing and stitching unit engaged in the manufacturing of yarn, denim and denim products.

NTN No.
National Tax No. (NTN): 1319140-3

Registration
Company Registration No.: L05903 OF 1992-93
Company Registration No.: CUIN 0029409

Ratio Analysis
Ratio analysis is the single most important technique of financial
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