Jahangir Siddiqui: The Man Who Conquered the World
Jahangir Siddiqui: The Man Who Conquered the World
Jahangir Siddiqui born in Hyderabad, Sindh on 28 July
1948, his father was a government servant and his mother was a housewife. He started
his business in 15 May 1962 as a distributor of Coca-Cola in Hyderabad at the
age of 14. He set up a swanky café in his father’s garage adjacent to Firdaus
cinema. He made 40,000 in his first year and invested only Rs. 6000 in his Café
Business. He was not born with a silver spoon in his mouth, neither he inherits
a business empire from his father nor he come from an incredibly wealthy
family. He grew drastically because he had no family’s responsibility as
majority of young entrepreneurs have.
He used to sit in one of his friend’s shop after Maghreb
prayer and he was surprised to see how many bottles of Coke they were selling
on a daily basis and how much money they were making. There he calculated all
this and he got the idea that he can start doing this business as well. All he needed to do was to make an initial
investment of around Rs.6000. He had no formal business training but he was
enthusiastic enough to learn business, so he learned gradually from his seniors
in the business field.
His father being a government servant went away on a four-day
tour and he immediately sold his car- a 1952 model, got Rs.1, 800 for it. He
also sold a lot of the coal and wheat stored in his father’s garage then
cleared out the garage to make space for the café he would set up. When his
father returned home he was alarmed to see or rather not see, his car.
Surprisingly, Jahangir Siddiqui’s father was not at all angry. He laughed and
gave him some more money because he knew that he was determined to start his
business.
And two years later, Jahangir Siddiqui bought his father a brand new car —a
Fiat 600. He was doing so well in his business but unfortunately lost interest
in his studies.
He invested the money he had made from his business in two
other businesses. Jahangir Siddiqui had bought a few shares in Adamjee Sugar
Mills and Mirpurkhas Sugar Mills. In his first year he made Rs. 200,000.
Boosting the performance of foundering companies was not the
only area where Jahangir Siddiqui made improvements. His contribution to the
development of Pakistan’s stock exchange has been outstanding and will no doubt
earn him a place in corporate history. Jahangir Siddiqui contested the December
1989 elections for the presidency of the KSE and won against Arif Habib.
Another landmark achievement was the establishment of Abamco in 1995,
It is said that behind every successful man there is a strong
woman and in this respect, Jahangir Siddiqui is no exception. He readily acknowledges that his
elegant wife Mahvash has been a towering pillar of support. Mahvash has done a
lot for the family. She was head of the English department at
Khatoon-e-Pakistan College.
Today’s JS Group:
JS Group has grown from its roots in
Pakistan’s financial services industry. JS Financial operates market-leading
companies in asset management, investment banking, securities brokerage,
commercial banking, insurance and trade finance. The group also includes five
vertical businesses: JS Industrial, JS Infocom, JS Property, JS Resources and
JS Transportation.
JS Global Capital Limited (“JS Global”) is certainly the
largest Broking and Investment Banking firm in Pakistan with a continued
leadership position in the domestic capital markets. JS Global is listed
at the domestic stock exchanges and JS Group and Global Investment House are the
sponsor shareholders. They started from stock trading and now Pakistan’s most
diversified business group with Interest in Telecom, Media, Energy, Financial
services, Real Estate, Transportation, and Industries. JS Group owns and
manages market leading financial services businesses in Pakistan in addition to
owning a diversified portfolio of investments Global Investment House, based in
Kuwait is one of the leading financial services companies with a growing
footprint in the MENASA region. SCL has achieved many significant milestones
including being the sole domestic financial advisor to the Hub Power Co. Ltd.’s
equity offering (acclaimed by “Asia-money” as the 1994 Deal of the Year) and
assisting its former joint venture partner, Bear Stearns, in the Government of
Pakistan’s first sovereign Eurobond offer of US$ 150 million.
Companies operated by JS financial are:
1)
Jahangir Siddiqui & Co. Ltd
2)
JS Global Capital Limited
3)
JS Bank Limited
4)
JS Investments Limited
5)
EFU Life
6)
JS Industrial
7)
Azgard 9
8)
Pakistan International
Container Terminals
9)
JS Property
10) JS Transportation
JS Group has formed partnerships with
international organizations and brands to develop new businesses in Pakistan.
Examples of JS Group partnerships in Pakistan include:
JS Group can be
credited for successfully introducing and popularizing the use of equity
research in the Pakistan market. The group comprises businesses with over
18,000 employees and profit after tax of $510 million in 2007.
JS Bank Activities
i.
As part of its Green Energy Program, JS Bank has successfully
converted 100 branches to use solar energy.
ii.
Wins award for Sustainable and Green Branches at the 6th
Energy Awards 2017
iii.
JS Bank & Dellsons organized an Emerging Digital Ecosystem
- Prospects & Challenges Seminar
iv.
Certified by WWF as being a Green Office
v.
Partners with Dewan Motors (BMW Pakistan)
vi.
Organizes “Thinking The Unthinkable” discussion with Nik
Gowing
vii.
Enters into strategic partnership with INOV8 Limited
viii.
Join Hands with EFU General Insurance Limited
ix.
The Bank was honored to have arranged the JS Bank Quaid-e-Azam
Trophy 2015 Wheelchair Cricket Tournament.
x.
Annual national Ramadan meal campaign was also held and
organized through JS Bank branches to facilitate the underprivileged with iftar
meals. During 2015, 89,800 iftar meals were served. This initiative acts as a
catalyst for JS Bank staff to
interact with underprivileged communities.
Quotes & Saying
“Entrepreneurial spirit, innovation and
leadership,” Jahangir Siddiqui observed, which can well be summed up as
Entrepreneurship 101.
“Positive thinking
differentiates an entrepreneur from the rest of the crowd. He’s never deterred
by difficult circumstances,” Siddiqui said
“Don’t be scared. Don’t feel threatened. Come
up with a solution. Every problem can be solved,” he said.“When you can’t increase profits, you control expenses. So I stopped using my car. My dispatcher would take me to the office in the morning on his motorcycle and drop me back home in the evening. I’d save Rs200 on petrol every month,” he said.
“Despite problems like law and order and energy shortages, we were able to establish 150 branches in just three years and eight months,” he said.
“An entrepreneur always finds opportunities amid adversities.”
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