Parsoli Corporation Ltd.
BSE: 530071 |
Sector: Financials |
NSE: N.A. |
ISIN Code: INE905D01016 |
BSE
05:30 | 01 Jan
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Parsoli Corporation Ltd
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NSE
05:30 | 01 Jan
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Parsoli Corporation Ltd
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Parsoli Corporation Ltd. (PARSOLICORPN) - Chairman Speech
Company chairman speech
PARSOLI CORPORATION LIMITED
ANNUAL REPORT 2006-2007
CHAIRMAN'S REPORT
Dear Shareholders,
In April 2006 Baader Wertpapierhandelsbank AG, one of the leading banks
providing a broad spectrum of investment services across Europe, became a
major shareholder of Parsoli Corporation Limited.
We are particularly excited about this investment. India is a highly
attractive market and Parsoli Corporation Limited is a very promising
company. We look forward to working with our new partner.
Why did we choose India? Being a modern and innovative family business and
being a publicly listed company at the same time Baader naturally looks for
growth opportunities outside Germany.
India is one of the strongest growing economies in the world. In the past
15 years it has shown a remarkably stable increase in GDP. International
banks almost unanimously forecast that India will be atop performer among
the BRIC countries (Brazil, Russia, India and China) and the 'Next Eleven'
(Egypt, Bangladesh, Indonesia, Iran, Mexico, Nigeria, Pakistan,
Philippines, South Korea, Turkey, Vietnam) in the coming decade. But this
is not the only reason to favour India over any other prospering economy.
Already at this point, capital markets in India are strong and solid.
Unlike in other fast growing economies in India large parts of the
population participate in the increasing prosperity. The current savings
ratio amounts almost to an incredible 30 percent. And the number of people
that economists consider to be higher income people increases at the speed
of 25 percent annually.
India is a young nation. Its demographic structure with a high percentage
of young people forms the strong backbone of his healthy economy.
The Bombay Stock Exchange is the eldest exchange in Asia. Furthermore,
India is the ERIC country with the best functioning public market for
derivatives. The Indian legal system with its Anglo-Saxon roots and the
widely-spread acceptance of English as a business language turns India into
a much sought-after trading partner.
From a German perspective India is more accessible than Brazil or China,
regarding both travelling time and time difference. With the respect to
political stability India, the largest democracy worldwide, is far more
predictable and eliable than ail the other BRIC countries.
With Parsoli Corporation Limited we have found the ideal partner for our
commitment in India. Parsoli, being a company providing. Shariah compliant
and ethical investment services to its niche market, embraces certain
ethic, humanitarian and moral principles, which we share irrespective of
our different religions, nationalities or ethnic backgrounds.
Parsoli has started its business in a niche market by offering, Sharia-
compliant financial products to its niche market. We convinced that Parsoli
will expand from the niche market. It has great potential and is in an
excellent starting position benefit from the ongoing upsurge of Indian
capital markets.
Mr. Baader Wertpapierhandelsbank AG supports Parsoli in this endeavour. And
we have more to offer than merely providing capital. Baader has many years
of experience in setting-up highly innovative IT-infrastructure and
constantly adapting it market needs. We lock forward to sharing our know-
how with our new partner. May Parsoli thrive and prosper.
Uto Baader
(Chairman)
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