Honda Atlas Motors

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COMPANY PROFILE:HONDA ATLAS CARS PAKISTAN LIMITED is a joint venture between HONDA MOTOR COMPANY LIMITED Japan, and the ATLAS GROUP OF COMPANIES, Pakistan.

The agreements signed between the two sponsors are for technical collaborations for development parts and systems for manufacture of HONDA CARS in Pakistan. Pakistani and Japanese cultures have blended exceptionally well to form a professional team of Institute of Business Administration 1

dedicated specialist.

The company was incorporated on November --, 1992 and joint venture agreement was signed on August ---, 1993. The ground breaking ceremony was held on April 17, 1993 and within a record time of 11 months, construction and erection of machinery was completed. The first car rolled off the assembly line on May 26, 1994. Official inauguration was done by President of Pakistan, Sardar Farooq Ahmad Khan Leghari. Mr.Kawamoto, President of Honda Motor Company Limited Japan was also present to grace the occasion. The company is listed on Karachi, Lahore and Islamabad Stock Exchanges.

On July 14, 1994, car bookings started at six dealerships in Karachi, Lahore, and Islamabad

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Since then the Dealerships Network has expanded and now the company has sixteen 3S (Sales, Service and Spare Parts) and thirty 2S (Service and Spare Parts) Pit shops network in all major cities of Pakistan.

Since the commencement of production in 1994 till March31, 2005, the company has produced and sold over 77,500 cars.

All dealerships are constructed in accordance with the standards defined by HONDA World over. Percentage of local parts conforms to the government's policy. Local vendors are continuously patronized to develop parts locally. The quality of local parts is thoroughly checked to meet stringent international standards. HONDA always strives to give outstanding service to their valued customers. In addition to providing regular service to customers, the company also regularly conducts Service

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Campaigns, to facilitate customer's need for service. This has given customers absolute confidence in HONDA CARS, clearly evident from the ever increasing sale volumes. It is the constant endeavor of HONDA ATLAS CARS (PAKISTAN) LIMITED to achieve No .1 Customer satisfaction. HONDA ATLAS CARS (PAKISTAN) LIMITED is committed to meet customer expectations, and to provide good value for money. In 1996 the full model

change of HONDA CIVIC introduced, after just one and half year of commencement of production. Three models in Civic VTI, EXI and LXI with 1.6L and 1.5L engines were introduced in VTI and EXI models respectively. In 1997 Honda CITY 1.3L car in Et and EX models and Honda City EXI with 1.5L were launched.

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VISION STATEMENT:HONDA vision to position itself in Auto industry is stated by management as follows:

Focusing on satisfaction (customer, associates and shareholders) are dedicated with challenging spirit and flexibility, we to supplying latest generation cars with advanced tech-nology, greater fuel efficiency and competitive prices, along with friendly and efficient after sales back up, maintaing quality as coreInstitute of Business Administration

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all activities.

HONDA'S ENVIRONMENT STATEMENT:HONDA environment policy established and announced in June 1992. As a responsible member of society whose task lies in the preservation of the global environment, company will make every effort to contribute to human health and the preservation of the global environment in each phase of its corporate activity. Only in this way will we be able to count on a successful future not only for our company, but for the entire world. We should pursue our daily business interest under the following principles:

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BUSINESS PRINCIPLES OF HONDA ATLAS CARS (PAKISTAN) LIMITED: ENVIRONMENTAL POLICY:

We will make efforts to recycle materials and conserve and energy at every stage of our products life cycle fro research, design, production and sales, to services and disposal.

We will make every effort to minimize and find appropriate methods to dispose of waste and contaminants that are produced through the use of our products, and in every stage of life cycle of these products.

We will consider the influence that our corporate activities have on the regional environment and society, and endeavor to improve the social standing of the company.

As both a member of the company and of society, each employee will focus on the importance of making efforts to preserve human health and the global environment, and will do his or her part to ensure that the company as a whole acts responsibly.

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HONDA ATLAS CARS (PAKISTAN) LIMITED, being responsible member of society considers the preservation of the global environment as a crucial concern reviewed on 30th June, 2004. Our environmental philosophy is firmly based on the following guidelines.

Recognize the impacts of the significant aspects on the environment resulting from our activities, products and services.

Formulate objectives and targets for pollution prevention, environmental impacts mitigation and resource conservation as far as technically feasible.

Operate in compliance with relevant environmental laws, regulations and other requirements that apply to our activities.

Create environment friendly attitude among associates.

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Commitment to continual improvement of the environmental performance and review of the environmental management system to ensure its suitability, adequacy and effectiveness.

QUALITY POLICY :At HONDA we are committed to focus all are activities leading to: Manufacturing high quality products. Customer satisfaction. Service to society. Maintain market leadership.

HONDA ATLAS CARS PAKISTAN LIMITED is a quality conscious company. Thats why HONDA ATLAS CARS PAKISTAN LIMITED is the first automobile company in Pakistan who has achieved ISO 9002 certification.

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OTHER BUSINESS PRINCIPLES OF HONDA:Following are different policies &principles of Honda namely:

MANAGEMENT POLICY:(respect, man powerimportance, 3s spirit, 3A hand on approach, be a corporate citizen).

HONDA ATLAS CARS (PAKISTAN) LIMITED CORPORATE POLICY: (idealworking environment , adequate return to share holders, dynamic marketing &manufacturing).

PRIORITY STANDARDS OF CONDUCT:(safety ,quality ,productivity).

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HUMAN RESOURCE AND SUCCESSION PLAN:(hiring competent associates,providing opportunities for internal mobility through personal training and development, enabling them to take higher position).

SAFETY ,HEALTH AND ENVIORMENT:(comply with applicable Govt.requirements, avoid risks to human health ).

OPERATING PRINCIPLES:(always keep thedead line, never make excuses, team work).

COMPANY INFORMATION:Institute of Business Administration 12

THE BOARD OF DIRECTORSMr. Yosuf h. shirazi (Chairman) Mr. Satoshi okamoto (President / ceo) Mr. Amir h shirazi

Mr. Motohide sudo

Mr. Hiromi mizutani

Mr. Jawad iqbal Ahmad

Mr. Takashi otsuki

COMPANY SECRETARYMr. Raffat iqbal

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AUDITORSA. F. Ferguson & co. Chartered accountants accountants

LEGAL ADVISORSCornelius lane & mufti

BANKERSAbn amro bank

Habib bank ltd.

Askari commercial bank

Citi bank n.a. Deutsche bank

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Muslim commercial bank

The bank of Tokyo Mitsubishi LTD.

REGISTERED OFFICE1 MCLEOD ROAD, LAHORE PH : (042) 7225015 17 FAX : (O42) 7233518

FACTORY

43 KM, MULTAN ROAD, MANGA MANDI, LAHORE. PH : (042) 5750011 17 FAX : (042) 5750020, 5765071 E-MAIL: honda@brain.net.pk Web site : www.honda.com.pk

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CHRONICLE OF EVENTS:DateAug Nov Feb Apr July Mar Apr May July July July Oct June July Oct Jan Aug Sep Oct Dec Jan Mar Oct Dec June Oct Dec Dec Jan Apr Oct 05 04 10 17 31 01 26 13 13 16 10 22 20 29 10 11 10 22 30 22 28 15 15 26 1-6 01 08 28 13 20

Year1992 1992 1993 1993 1993 1994 1994 1994 1994 1994 1994 1994 1995 1995 1995 1996 1996 1996 1996 1996 1997 1997 1997 1997 1998 1998 1998 1998 1999 1999 1999

EventsJoint venture agreement signed with Honda Motor Co. Japan. Incorporation of Honda Atlas Cars (Pak) Ltd. Certificate of Commencement of Business. Ground breaking ceremony. Rupee devalued by 70%. Completion of civil work and installation of Plant &Equipment. Technical Assistance Agreement signed with Honda Motor Japan First car rolling out ceremony held. Mr. N. Kawamoto, President Honda Motor Co., Japan, visited. Inauguration by President of Pakistan. Commercial production started. Public issue of shares. New ware housing facility added. 5,000th car rolling out ceremony held. Rupee devalued by 7%. New Civic 96 launched at Karachi & Lahore. 10,000th car rolling out ceremony held. Rupee devalued by 3.65%. Rupee devalued by 8.5%. 10% cash dividend approved at 4th AGM. Honda City launched at Karachi & Lahore. Sales Tax reduced from 18% to 12.5%. Rupee devalued by 8.7%. 5% bonus shares approved at 5th AGM. Rupee devalued by 4.4%. Honda Motor Companys 50th anniversary. Sales Tax increased from 12.5% to 15%. 10% cash dividend approved at 6th AGM. VTi Ori