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Hashoo Group

From Wikipedia, the free encyclopedia

Hashoo Group
IndustryConglomerate
Founded1960; 64 years ago (1960)
FounderSadruddin Hashwani
Headquarters
Islamabad
,
Pakistan
Total assetsIncrease US$3.8 billion[1] (2021)
Websitehashoogroup.com

Hashoo Group is a Pakistani conglomerate company which is active in hospitality, oil and gas sectors. It was founded in 1960 by Saddaruddin Hashwani in Karachi.[2]

History

Hashoo Group was established in 1960 as Hassan Ali & Company, a commodities trading company based in Karachi Port. By the 1970s, it had become one of Pakistan's largest trading companies. However, in 1972, the Government of Pakistan nationalized cotton and rice exports leading the Hashoo Group to diversify into the hospitality sector. In 1978, the group established Holiday Inn Hotel in Karachi, and then another one in Islamabad in 1981. Both of the hotels were converted into Marriott brand in the 1990s. In 1985, the group made a successful bid for the majority shares of Pakistan Services Limited, which then owned four Inter-Continental Hotels across Pakistan, the hotels were re-branded into Pearl-Continental Hotels.[3]

In 1995, Hashoo Group acquired the US-based corporation Occidental Petroleum's Pakistan operations (now known as Orient Petroleum Inc.). In 2001, it acquired the Destinations of the World franchise in Pakistan. In 2012, the group launched Hotel One, a mid-range hotel chain in Pakistan.[4]

In October 2013, Tullow Pakistan exited the Pakistani market and sold its assets to Ocean Pakistan Limited, a subsidiary of the Hashoo Group.[5]

In March 2016, BHP Billiton sold its Pakistani oil and gas operations to Hashoo Group.[6] In 2016, Murtaza Hashwani, Chairman of Hashoo Foundation, and Deputy Chairman of Hashoo Group took the string of the company on his own hand and lead the legacy of his father further.[7]

In 2019, Hashoo Group won 3 CSR awards “Best CSR Practices”, “Women Welfare Empowerment & Development”, and “Education & Scholarships” at 11th Corporate Social Responsibility Awards 2019 for the social development works received by Murtaza Hashwani, Deputy Chairman of Hashoo Group.[8]

Companies

Tours and travels

The Pearl Continental Hotel in Karachi

Information technology

[2]

  • Net-21 (Pvt) Limited

Oil and gas

[2]

  • Ocean Pakistan Limited.
  • Zaaver Petroleum Corporation Limited
  • OPI Gas (Pvt) Limited

Minerals

[2]

  • Zaver Chemicals (Pvt) Limited
  • Zaver Mining Company Limited
  • Zaver Oils Limited

Pharmaceuticals

[2]

  • Gelcaps (Pakistan) Ltd.

Ceramics

[2]

  • Pearl Ceramics (Previously known as Cera-e-Noor)

Investments

[2]

Trading companies

  • Hashoo International (Pvt) Limited
  • Hasan Ali & Company (Pvt) Limited
  • Genesis Trading (Pvt) Limited
  • Muzaffar and Companies

Welfare

  • Hashoo Foundation
  • Umeed-e-Noor
  • Scholarship

See also

References

  1. ^ "10 Titans of Pakistani Business". Retrieved 2 November 2022.
  2. ^ a b c d e f g Company Overview of Hashoo Group of Companies on Bloomberg.com website Retrieved 9 November 2017
  3. ^ "PROFILES OF CONTESTANTS OF DIRECTORS' ELECTION" (PDF). Retrieved 9 November 2017.
  4. ^ a b c "Hospitality & tourism: Hashoo Group seeks to expand budget hotel chain - The Express Tribune (newspaper)". 5 August 2012. Retrieved 8 November 2017.
  5. ^ Ali, Kalbe (22 October 2013). "Tullow sells assets to quit Pakistan". DAWN.COM.
  6. ^ "Hashoo Group acquires BHP Billiton's operations". The Express Tribune. 1 March 2016.
  7. ^ "Hashoo Foundation (HF)". www.hashoogroup.com. Retrieved 24 November 2022.
  8. ^ "Corporate Social Responsibility Awards".
  9. ^ Shahid, Ariba (5 September 2020). "Pakistan is undergoing a budget hotel revolution. Kind of". Profit by Pakistan Today.
  10. ^ Armed with hope, Hashoo Group looks to expand The Express Tribune (newspaper), Published 3 August 2014, Retrieved 9 November 2017

External links

This page was last edited on 11 January 2024, at 12:58
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