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Parsoli Corporation Ltd.

BSE: 530071 Sector: Financials
NSE: N.A. ISIN Code: INE905D01016
BSE 05:30 | 01 Jan Parsoli Corporation Ltd
NSE 05:30 | 01 Jan Parsoli Corporation Ltd

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)