Tuesday, November 26, 2013
Applied Technology Research Center (atrc.net.pk) is the company since 1992 which has been providing a variety of services in the areas of ICT, Energy and Education.
Since the older clients know of atrc as the Linux company, it is better to separate that function to a separate company to increase the focus.
ATRC decided to create muftasoft which is the new company.
Dubai : 971-55-639-8386
Skype : khawar.nehal
Karachi : 92-332-313-7334, 92-300-822-1667
Email : firstname.lastname@example.org
Monday, October 22, 2012
In case you did not know, the British sent Mr. Mohammad Ali Jinnah to split the then muslim empire to allow them to be able to enter with visas in the future. After the mess they created in the Mughal empire, a combined south east asia would have become the even stronger muslim empire with some Indian city at the center as the HO and the western invaders would never be able to get a visa to enter the east for at least another 2000 years.
Check your (real) history to see the values of the people who invade and those invaded.
The punjab area in the past had a syllabus with ethics, values, etiquettes, and knowledge compulsory up to class 10 (not the illiterate rote memorization class 10 you are familiar with). This was destroyed by the invaders to rote memorization so we have newspapers making cartoons where a human kid goes to school and comes out looking like a donkey.
Face reality like a person who believes in the day of judgement or I shall not believe in what your opinions are about any topic.
Friday, June 8, 2012
Sunday, June 26, 2011
I am interested in making and sustaining a company which supplies Halal White sugar.
All those interested can contact me on the following :
Applied Technology Research Center (ATRC)
C-55 Block A KDA Officers, Karachi 75260, Pakistan
Email : email@example.com
Website : http://atrc.net.pk
Mobile : 971-55-639-8386
Gtalk : khawar.nehal
Skype : khawar.nehal
Shop 13 Building T1, Spain Cluster, International City, Dubai, UAE.
Email : firstname.lastname@example.org
Dubai Business Club
Website : http://dubai-business.co.cc/
General email : email@example.com
Salam BC : http://www.salambc.com/profile/khawar_nehal
Linked In : http://www.linkedin.com/in/khawarnehal
Facebook : http://www.facebook.com/root.sysop
Dubai Airports CEO: Aviation model is brokenby ASC Guest Columnist on Aug 9, 2010
A growing need for pro-aviation policy, partnership and global perspective - written by Paul Griffiths, chief executive officer of Dubai Airports.
Airlines around the world have lost around US$50 billion since 2001, which clearly indicates that the present business model in completely and utterly broken.
As the aviation industry works to repair this situation, governments worldwide should also take a look at Dubai’s aviation model to stem the flow of red ink and improve the financial sustainability of an industry that generates 8% of global GDP.
After all, Dubai has a thriving aviation sector that features the third busiest airport for international passenger and cargo traffic, the world’s largest single airport retail operation and one of the fastest growing and most profitable airlines on the planet.
Last year, while global aviation recorded the worst demand decline in post-war years, Dubai International recorded 9.2% passenger traffic growth, making it the world’s fastest growing major international airport.
Annual passenger numbers are forecast to grow from 41 million in 2009 to 98 million in 2020 and 150 million passengers by 2030. With this in mind, the emirate’s approach can provide some valuable insight to counterparts throughout the world.
There are three primary factors behind Dubai’s success – a pro-aviation government policy, industry-government partnership and a vision that embraces the changing industry dynamics driven by globalisation.
At the end of the day, most governments around the world treat aviation as a pariah and choke its growth with costly, misdirected regulation and parasitic forms of taxation, whose revenues usually flow straight out of the sector.
Sadly, the UK government is top-in-class in this regard. The Air Passenger Duty serves only to pad the Treasury’s coffers.
And its recent decision to stop the construction of a third runway at Heathrow effectively snuffs out the considerable economic growth aviation can drive in an already beleaguered economy. Dubai has done the exact opposite.
Aviation generates 25% of the emirate’s GDP - a fact that has led to its inclusion in Dubai’s strategic plan and a long-standing open skies policy. Allegations of a tax free environment are correct – but we aren’t the only tax free environment in the world and the policy applies to all companies operating in Dubai.
Emirates Airline is run as a fully commercial business and treated like any other airline at Dubai International in terms of airport and landing charges. The airport is government owned, however, it is run efficiently, it is cash positive and revenues generated are re-invested into infrastructure.
The alignment of government agencies and industry partners has also boosted growth and efficiency as resource planning, facility investment and expansion are coordinated and supportive of airline growth strategies and fleet acquisition plans.
In addition, greater collaboration, information sharing and use of existing technologies across the aviation value chain is also needed to streamline airport processes, improve the customer experience and boost retail revenues.
Almost 50% of the time a customer spends at an airport is absorbed by cumbersome processes - at an opportunity cost as high as US$35 billion per annum.
This lost revenue ultimately stems from a chronic lack of trust and cooperation between airlines, airports and retailers. It’s high time for all parties to acknowledge their inter-dependence and leverage their strengths.
This could lead to an environment where the travel retail industry records greater profits, airports fund themselves entirely from non-aeronautical income, and airlines are relieved of the burden of airport charges.
In the UK and other mature European markets, limited space, congestion and a stifling regulatory environment have all but capped airport expansion.
By contrast, in just three airports in the Middle East, investment in airport infrastructure is expected to reach $39 billion over the next 10 years.
And while the formula for change is apparent, a lack of trust often impedes progress. Industry partners must learn to cooperate and coordinate activities to better bring their individual strengths to the table.
Governments must adopt policies that support liberalisation and sustainable growth. And both must commit to developing a lasting partnership that recognises the changing face of our industry and seeks the greatest efficiencies from an evolving global network.
Air traffic capacity constraints pose the single largest threat to aviation growth and the billions of dollars of additional economic activity its expansion is expected to generate in the Middle East and globally over the next decade, according to Dubai Airports CEO Paul Griffiths.
“In Dubai, aircraft movements are now five times more numerous than 25 years ago, growing from 63,000 in 1985 to over 307,000 in 2010,” said Griffiths in a speech delivered to air traffic management executives attending the Civil Air Navigation Services Organization’s (CANSO) annual general meeting being held in Bangkok yesterday. “By 2020 aircraft movements will surpass 560,000 and passenger numbers will climb to 98.5 million. Unfortunately, the airspace is currently not configured to support the growth and capacity bottlenecks are looming on the horizon. We have an outdated route structure, fragmented airspace and there is a lack of effective coordination on a regional scale.”
Traffic growth is expected to generate significant economic expansion. In Dubai alone, aviation supports 250,000 jobs and $22 billion in economic activity, according to the results of a recently released study conducted by leading global research firm Oxford Economics. By 2020 aviation is projected to support 373,000 jobs – or 22% of the total employment in Dubai – and $45.4 billion in economic activity – or 32% of GDP.
Dubai is not alone in its recognition of the value of aviation. Airlines and airports across the Middle East are investing heavily in aircraft and infrastructure expansion to capture the value of the anticipated growth. Arab countries plan to spend nearly $200 billion on new aircraft in the next 15 years to meet demand. And more than $100 billion has been committed to airport expansion, more than half of which is in the UAE itself.
“Previously most of aviation’s congestion problems have existed on the ground, now the biggest strategic threat to the growth of aviation is in the air,” said Griffiths. “There are several root causes for this malaise. The external factors start with nationalism and politics getting in the way of logic. There is needless concern over sovereignty issues which have long been overcome elsewhere. Another is an outdated regulatory environment which is not supporting the new order of aviation where airspace is viewed as a global commodity, not a local product. Finally, airspace management is being seen by other parts of the industry as a black art, not a vital part of the supply chain and is therefore not properly integrated.”
Griffiths added that internal factors, such as a lack of strategic planning among air navigation service providers and the general absence of long term commitment and investment, are equally disconcerting.
To avoid constraining aviation’s growth locally, Dubai Airports is finalising a detailed strategy to expand airspace capacity over the next decade. Measures include adjusting the sequencing of arrivals and departures, redesigning route structures and making better use of technologies such as performance based navigation and communication navigation and surveillance systems which help aircraft fly more efficiently. Dubai Airports is also leading a joint Middle East Airspace Study, in coordination with CANSO, UAE General Civil Aviation Authority and Dubai Civil Aviation Authority, to work across borders to optimise the region’s airspace structure.
“There is a critical gap between politics and operations at both government and operating levels in presenting the compelling economic case for an efficient airspace environment,” concluded Griffiths. “We simply cannot wait for the political wheels to grind so slowly. We have to recognise that working together is the only way forward.”
Saturday, June 25, 2011
The following reviews the various methods of calculating percentage rental, and the administrative provisions pertaining to percentage rental payments by retailers under percentage rent leases.
Methods of Calculation
There are several different methods of calculating percentage rental for retailers. Payment of a specific percentage of gross sales with a guaranteed minimum rent is probably the most common. This method of calculation is generally effected by language obligating the tenant to pay "percentage rental equal to five percent (5%) of the tenant's gross sales less the minimum rental payable under the lease."
Another method of percentage rent calculation is to provide for a minimum rental with payment of a percentage of gross sales over a stipulated breakpoint or breakpoints. Language effecting a stipulated breakpoint would obligate the tenant to "pay percentage rental equal to five percent (5%) of all gross sales in excess of annual sales above the sum of One Million Dollars ($1,000,000)."
The stipulated breakpoint method for the purpose of calculating percentage rental can be dangerous when partial years are involved. This method, unless the lease provides otherwise, may allow the tenant to have gross sales at a rate greater than the break point for a partial year under the lease, and avoid paying percentage rent for that partial year, since the stipulated breakpoint is not exceeded for the short year.
In the event a stipulated break point is used to calculate percentage rent, the tenant may wish to insist upon a provision that reduces the breakpoint in the event the rental for the premises is reduced, e.g., in the case of a partial condemnation of the premises occupied by the tenant.
There is really no requirement that a stipulated breakpoint relate directly to a mathematical breakpoint for the calculation of percentage rental. Of course, the mathematical breakpoint is calculated by dividing the minimum rent by the percentage of gross sales the tenant is obligated to pay. For example, if the minimum rental for the premises is $50,000 per year and the tenant is paying 5% of sales, then the mathematical breakpoint is $l million. However, the parties could agree that the minimum rent would start at higher than $1 million, e.g., $1.25 million. This is sometimes called a "skip," since a portion of the gross sales against which percentage rent is calculated is "skipped", i.e., that portion between $1 million and $1.25 million.
The same result could be achieved by using a "split" percentage approach. The term "split" percentage deal comes from the use of two percentage figures, the first to calculate the breakpoint, and the second to fix the amount of percentage rent payable for sales in excess of the breakpoint. For example, in a "split" 4%/5% deal, the breakpoint would be calculated by dividing 4 percent into the minimum rental of $50,000 to yield a breakpoint of $1.25 million above which the tenant would pay 5 percent of gross sales as percentage rent.
Finally, sometimes tenants negotiate different percentage rates for increments of annual sales. For example, the tenant might agree to pay 5 percent on sales between $1 million and $2 million, and 4 percent on sales above $2 million. Frequently, this sort of agreement results from a compromise between a landlord who wants 5 percent of sales as percentage rent and a tenant who wants 4 percent of sales payable as percentage rent.
The last method of calculation is by far the least prevalent--it is the "straight percentage" or "percentage only" deal which obligates the tenant to pay solely a percentage of gross sales as rental with no fixed minimum rental. It is usually only used with major anchors for regional shopping centers or anchors for community shopping centers. Suffice it to say that substantial tenant leverage is required to obtain a straight percentage deal. The main nuance associated with this type of deal is the possibility of an implied operating covenant (i.e., a covenant to conduct business continuously in the premises) for the tenant in many jurisdictions, unless the lease provides expressly otherwise. Courts may imply this sort of covenant since the landlord will receive no rent if the tenant ceases to operate, even though the tenant has the continued occupancy of the premises.
Definition of Gross Sales and Exclusions
Generally, landlord-oriented percentage rent leases have an expansive definition of gross sales. Such sales are typically calculated by utilizing "the actual sales price of all goods, services and merchandise sold, delivered or licensed in the premises by the tenant, or by any subtenants or concessionaires, whether they are made for cash or on credit." Tenants generally seek relief from such broad definitions by proposing to exclude a number of items from the base against which percentage rental is calculated. Common exclusions include:
- sales or excise taxes payable the tenant to taxing authorities;
- proceeds from the sale of gift certificates until redeemed for service or merchandise;
- labor charges for incidental services in the premises, e.g., charges for Christmas wrapping;
- all credits and refunds given or made to customers for returns of merchandise;
- all sums received in settlement for lost or damaged merchandise;
- sales of machinery, equipment, trade fixtures not made in the ordinary course of the tenant's business;
- sales to employees at a discount (often with a maximum amount for such sales);
- incidental receipts by the tenant (e.g., vending or stamp machine receipts, receipts from public telephones, proceeds from the sale of money orders, and receipts from video games, although frequently landlords are not willing to exclude video game revenue since it can be substantial).
- charges paid directly to credit card issuers.
Record Keeping and Rights of Audit
Frequently, provisions in the lease requiring the tenant to maintain records pertaining to percentage rental are onerous from an administrative point of view, especially for chain store retailers. National tenants frequently balk at rules requiring percentage rental records to be kept on the premises of the store rather than at the home office for the retailer. Further, national tenants frequently object to language which requires them to retain sales slips, bank deposits, tapes from cash registers, or other point of sale reports from business machines located on the premises. In addition, many percentage rent provisions require the chief financial officer of the tenant to certify percentage rent reports submitted by the tenant. Generally, national tenants will not agree to such certification requirements, but will agree to furnish sales reports to the landlord with a reasonable amount of detail.
Other questions pertaining to record keeping for percentage rental include:
- Are separate records required for subtenants and concessionaires?
- Is the tenant required to submit backup data for statements of percentage rent if requested by the landlord?
- Must the tenant furnish copies of audits to the landlord that the tenant has performed or copies of sales tax returns to verify gross sales?
- Can the landlord audit the tenant's records concerning gross sales and is there a cutoff period by which this audit must be performed?
- Is there a "penalty assessment" that is payable in the event the tenant has underpaid percentage rental as disclosed by an audit?
- Is the tenant required to pay the cost of an audit if the sales are found to be understated by a certain percentage, e.g., three percent?
- What is the retention period during which the tenant must retain sales records for audit by the landlord?
Timing of Payment
The mechanics of payment of percentage rental really are cash flow issues between the landlord and the tenant. The landlord wants percentage rental paid as soon and as often as possible, and the tenant wants just the opposite. Generally, tenants try to modify percentage rental provisions to provide for payment of any percentage rental due within thirty days following the end of the lease year. Landlords often dislike lump sum annual percentage rental payment because of its adverse impact on cash flow. Frequent compromises on the manner of payment include:
- payment semiannually within thirty days; or
- payment on a quarterly basis within thirty days; or
- payment monthly after the breakpoint is exceeded by the tenant's gross sales within fifteen days following the end of the month.