If u want to download this project contact @ +923458014643 STRATEGIC AUDIT: JDW SUGAR MILLS LTD.

National University of Modern Languages Department of Management Science Sector H-9 ISLAMABAD

SUBMITTED TO: Madam Fouzia Mubarik SUBMITTED BY: Azher (10972-c) Adeel

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

INTRODUCTION OF SUGAR INDUSTRY IN PAKISTAN Pakistan is the 5th largest country in the world in terms of area under sugar cane cultivation, 11th by production and 60th in; yield. Sugarcane is the primary raw material for the production of sugar. Since independence, the area under cultivation has increased more rapidly than any other major crop. It is one of the major crops in Pakistan cultivated over an area of around one million hectares. The sugar industry in Pakistan is the 2nd largest agro based industry comprising 81 sugar mills with annual crushing capacity of over 6.1 million tones. Sugar Sugarcane farming and sugar manufacturing contribute significantly to the national exchequer in the form of various taxes and levies. foreign exchange resources through import substitution manufacturing and its by-products have contributed significantly towards the

Cane Sugar Yield of World

Country Cane Yield (T/ha) Sugar Recovery (%) Sugar Yield (t/ha)

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

Australia Egypt Brazil USA Colombia Mexico India Pakistan World Avg. 100.4 110.8 68.4 80.2 80.5 79.5 66.9 49.0 64.4 13.8 11.5 14.5 11.7 11.5 11.6 9.9 9.2 10.6 13.85 12.74 9.91 9.38 9.26 9.22 6.64 3.54 6.82

Industry Scenario Sugar industry is mostly located in the rural areas of Punjab and Sindh. A small percentage of total production is produced in the NWFP. Previously, Punjab was partly dependent on supply of sugar from Sindh, but lately the establishment of some large scale units in Punjab has made the Province self-sufficient in the commodity. Sugar production is seasonal activity. The mills, at an average operate for 150 days, and supplies are made throughout the year. As the industry now has large daily crushing capacity there are efforts to even further reduce. Province wise sugar production (In Tons)

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

Province Punjab Sindh NWFP TOTAL 200506 1,832,2 28 1,038,1 22 128,157 2,998, 507 2004-05 2,182,330 801,063 132,407 3,115,80 1 2003-04 2,599,490 1,221,268 176,252 3,997,01 0 2002-03 2,351,102 1,158,674 166,983 3,676,75 9 2001-02 2,152,175 940,959 104,611 3,197,74 5

Investment Opportunities Improvement in sugar crop yield through R&D and planning Improvement in procurement and storage to reduce Export potential of sugar/molasses Development of Industries for proper utilization of byproducts by adding equipment (distillery, chipboard etc.) which can earn / enhance revenues. Blending of fuel ethanol with petrol. Power co-generation by the sugar industry using bagass

wastages

I. Current Situation JDW Group is the progressive industrial house of the country. Sugar manufacturing is the core business of the Group and is also renowned for support of innovative farming techniques which augment the core business. The Group takes immense pride in social responsibility activities (social mobilization, women enterprise development, support to technical and primary education, micro credit for the poor, infrastructure development, livestock development etc.) all aimed at

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

ameliorating social and economic conditions of the poor people in rural areas. A. Current Performance RETURN ON INVESTMENT Year 2007 2008 2009 2010 2011 Profit After Tax 366209426 70639471 350751199 502053100 1240402401 Share Capital 260301580 315361900 381254260 442480570 489889470 Ratio 1.41 .227 .792 1.133 2.532

The current position of the company reflects a higher increase in shareholders equity as compare to last years. NET PROFIT MARGIN Year 2007 2008 2009 2010 2011 Net profit After Tax 366209426 70639471 350751199 502053100 1240402401 Sales 4226409886 4237940735 6166723410 7572724395 20392207793 Ratio .087 .167 .057 .066 .068

The companys net profit is 6.8% for the last year and it is making an average profit of 8.9% which is good for the company.

MARKET SHARE The Group comprises of three sugar mills Units, JDW Unit-I (20,500 TCD), JDW Unit-II (8,500 TCD) and JDW Unit-III (11,000 TCD) in the districts of Rahim Yar Khan, Punjab and Ghotki, Sindh. With its combined crushing

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

capacity of 40,000 TCD, it is one of the largest group in the sugar sector and contributes approximately 9-10% of countrys sugar production. The price of per share is 89.5 in April. B. Strategic Posture VISION STATEMENT To become a market leader in the Industry setting out high quality standards for the Company and others to follow Mission To be the market leader and a world-class organization by meeting and proactively anticipating customer needs. To maximize the wealth of stakeholders by optimizing the long term returns and growth of the business. To be amongst the most efficient and lowest cost producers in the industry. To ensure a safe, harmonious and challenging working Environment for the employees. OBJECTIVES & STRATEGIES To make investment in sugarcane crop to ensure regular supply of cane and profitability of growers. To offer equal and fair growth opportunities to all employees. To undertake and support community development and welfare projects in order to fulfill social commitments. Policies The company have the proper policies and rules to fulfill the vision , mission, objectives and strategies requirement.

II. Corporate Governance

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

The board of director has an interlocking structure A. Board Of director The Board of Directors comprised of seven (07) Directors. The Company encourages representation of independent non-executive Directors on its Board of Directors. At present the Board includes four independent non-executive directors. The Board has formed an audit committee. It comprises three members and all are non-executive directors. The board of director are the actively participate in making the vision, mission, objectives, strategies and policies making. The board also actively involved in the implementing and handling overall issues in proper way. Amount of shares owned by Board of directors Directors, CEO and their spouses and minor children (name wise):
S. No. NAME % AGE HOLDING 17,788,429 11,513,932 651,864 366,341 1,421 1,421 1,360

1 MR. JAHANGIR KHAN TAREEN (Director/Chief Executive) 30.0092% 2 SYED AHMAD MEHMUD (Director) 19.4241% 3 MRS. SAMEERA MAHMUD (Director) 1.0997% 4 MR. IJAZ AHMED PHULPOTO (Director) 0.6180%

5 MR. MUHAMMAD ISMAIL (Director) 0.0024% 6 MR. ASIM NISAR BAJWA (Director) 0.0024% 7 MR. ZAFAR IQBAL (Director) 0.0023%

The Company has different class for the different Shareholders holding ten percent or more voting interest in the listed Company (Name Wise):

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

1 MR. JAHANGIR KHAN TAREEN 2 SYED AHMAD MEHMUD 3 MR. ALI KHAN TAREEN __________ 36,481,009 __________ __________ __________ 61.5436% __________ 17,788,429 11,513,932 7,178,648 __________ 30.0092% 19.4241% 12.1104%

The jdw is public limited company hand it is register in Karachi stock exchange, Lahore stock exchange and Islamabad stock exchange. As we can see here that the jdw is the public limited company. But the majority of share are in the hands of family member here we can see that the MR. JAHANGIR KHAN TAREEN (Director/Chief Executive) have a total of 30 percent holding. The SYED AHMAD MEHMUD has a holding of 19 percent and then the MR. ALI KHAN TAREEN has a 12 percent holding. B. Top Management SYED AHMAD MEHMUD is the Chairman of the board. MR. JAHANGIR KHAN TAREEN is the CEO and Managing director of the company. Both of them are involved in decision making and running the organization efficiently and effectively. Level of Involvement of Board of director in Company Decision making The Board has developed a vision/mission statement, overall corporate strategy and significant policies of the Company. A complete record of particulars of significant policies along with the dates on which they were approved or amended has been maintained. The Board has formed an audit committee. It comprises three members and all are nonexecutive directors. The Board has set-up an effective internal audit function having suitable qualified and experienced persons who are conversant with the policies and procedures of the company. The Board

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

of Directors has overall responsibility for the establishment and oversight of the Companys risk management framework. The Board is also responsible for developing and monitoring the Companys risk management policies. This note presents information about the Companys exposure to each of the above risks, the Companys objectives, policies and processes for measuring and managing risk, and the Companys management of capital. The Companys risk management policies are established to identify and analyze the risks faced by the Company, to set appropriate risk limits and controls, and to monitor risks and adherence to limits. Risk management policies and systems are reviewed regularly to react changes in market conditions and the Companys activities.

Organizational Structure The Jdw is simple structure that each employee can easily understand it very easily and its have centralized structure and on department level it has decentralized structure.

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

Introduction to the higher management CHAIR MAN (Syed Ahmed Mahmud)

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

Syed Ahmed Mahmud is the Director/Chairman of JDW Group. He comes from a family with a long standing political legacy. His father, Makhdumzada Hasan Mahmud, remained a political leader at the National level. He served as Chief Minister of Bahawalpur before the creation of one unit. Mr Ahmed Mahmud has been elected to the National and Provincial assemblies of Pakistan several times. He served as Minister of Excise and Taxation, Punjab from 1988 to 1990 and as Federal Minister of State for Environment from 1997 to 1999. He also served Rahim Yar Khan District as Nazim from 2001 to 2005 during which time many new and important initiatives were taken for the development of the District. He has served as the member of Board of Governors of Aitchison College Lahore. Chief Executive Officer (Mr . Jahangir Khan Tareen) Mr . Jahangir Khan Tareen is the Founder of the JDW Group. From a humble beginning in 1992-93, when a small sugar mill of 4,000 tons per day was set up in District Rahim Yar Khan, the group has grown to its present size and composition under his guidance and vision. As a Director/ Chief executive Mr Tareen continues to lead the group ably supported by a team of dedicated and highly motivated professionals. Born in 1953, Mr. Tareen received his early education in Karachi and graduated from F.C. College in Lahore. Upon graduation, he proceeded to the United States of America for higher education and was awarded the degree of Masters in Business Administration from the University of North Carolina in 1974. Mr. Tareen diversified into the Business world by Investing in a franchise Bottling business and subsequently established JDW Sugar Mills which has developed into Pakistans largest and most efficient Sugar milling

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

operations. This is the only Sugar Group in the country which is supported by an associated Sugar cane research organization. Subsequently JDW has diversified into other businesses which together form the JDW Group.

Rana Nasim Ahmed (Chief Operating Officer ) Rana Nasim Ahmed joined the Group as Resident Director in 2001 and continued in that position till 2007. Since 2007, his services have been hired by the Group as an Advisor/Consultant to assist in for setting strategic direction of its businesses and also overseeing implementation of decisions. He obtained Master Degree in Economics from University of the Punjab with distinctionsecured first position in the University. Thereafter, he joined the Civil Service of Pakistan through a competition examination held in 1981. On joining the Civil Service, he served in various positions in Government of the Punjab i.e. Assistant Commissioner, Deputy Commissioner, Deputy Secretary, Additional Secretary and Secretary to the Government of Punjab. He did his MBA from Saint Louis University, USA in 1989 on USAID Scholarship. He served as Secretary Agriculture in Government of the Punjab from 1999 to 2001 before joining JDW Group. Mr. Ahmed has been responsible for overseeing expansion in sugar and agriculture businesses of the Group. He is also advising the Group in setting up of cogeneration plants at all mills. Departments of the Organization The J.D.W Sugar Mills Limited has its following departments to functioning well:1. Finance

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

2. 3. 4. 5. 6. 7. 8. Administration Cane Chemical / Production Electrical Management Information System Store Mechanical

III. External Environment Opportunities and Threads (SWOT) Opportunities Expansion of circle offices in outer stations, where circle office not exists. Jdw can use beet as an input in future After the implementation of car financing scheme transport matters will be solve. In these days there is no situation of drought and recovery of per acre of cane will be increase They can attract growers from district Ghotiki as well as Rajan pur Outreach to growers especially far flung areas. The land of the vicinity is very fruitful for the sugar Mills. The area at J.D.W Sugar Mills Limited is shining area of the Punjab for production of sugarcane.

Threats Changes in policies suffer the growers as well as employees.

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

May be competition will increase They can shift from maturity stage to decline stage The advertising campaign may be need in future It is possible that in future we will face switching cost Most of the staff is illiterate but is experienced. Lack of non-technical knowledge. No electronically connection with circle offices except mobile phone. Non provision of proper transport to the field staff.

EXTERNAL FACTOR

STRATEGIC Weig ht 2 .15 .05 .10 .05 .20

Ratin g 3 4.9 2.5 3 5 4.5

Weight Comments ed Score 4 0.735 0.125 0.3 0.25 0.9 5 Easy Supply Transport problem solve More production More production More production Cost and quality INCREASE IN COST JOB PERFORMANCE

1 Opportunities O1. Expansion of circle offices O2. car financing scheme O3. drought and recovery O4. attracting growers O5. fruitful Land Threads T1. competition T2. advertising campaign T3. technical knowledge

.20 .05 .10

4.5 1.5 3

0.9 0.075 0.3

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

T4. Changes in policies T5. switching cost Total Score .05 .05 1.00 2 1 0.1 0.05 3.75 Disatisfaction Changing cost

IV. Internal Environment Strength and Weaknesses (SWOT) Strengths: JDW is a market leader. JDW Sugar Mills are in secure areas that is the state of JDW owners. There is no labor union in this organization. Have a wide setup farms and the land of linked areas is fruitful for cane production. Have a wide set up of farms Using manpower on large scale. Is in maturity stage in organization life cycle. JDW has much experienced, qualified and competent employees in each department. Weaknesses:

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

JDW is using manpower on large scale so expenses are high. Lack of departmental coordination Hiring of employee is not on the basis of hrm just on the basis of Reference Due to price war in sugar mills, the benefits goes to the grower and the sugar mills management had to pay extra money to the grower. Salary package of lower staff is low as compared to other sugar mills. Mills colony yet not been constructed and employees forcefully residing in city away from mills about 40-50 KM and travel on daily basis who residing in city area. No school for employees children is present there.

INTERNAL FACTOR 1 Strength

STRATEGIC Weig ht 2 .20 .05 .10

Ratin g 3 4 2 4.5

Weight Comments ed Score 4 0.8 0.1 0.45 5 High Market share Direct communication with mgmt. Own raw material

S1. market leader S2. labor union S3. wide setup farm

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

S4. maturity stage S5. qualified and competent employees Weaknesses W1. using manpower .05 4.5 4 3.5 4 4.5 0.225 0.4 0.175 0.4 0.45 4.20 .15 .10 5 4.6 0.75 0.46 Efficient and effectively perform Better performance

means more expense W2. Lack of departmental .10 coordination W3. price war in sugar mills .05 W4. Salary package of lower staff W5. Away from main cities Total .10 .10

High Expense of Salary Communication gap High Competetion Low Performance High Transport Expense

V. Analysis Of Strategic Factor (SWOT) Strength and Weaknesses (SWOT) Strengths: JDW is a market leader. Have a wide setup farms and the land of linked areas is fruitful for cane production.

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

Is in maturity stage in organization life cycle. JDW has much experienced, qualified and competent employees in each department. Weaknesses: Lack of departmental coordination Due to price war in sugar mills, the benefits goes toe the grower and the sugar mills management had to pay extra money to the grower. Mills colony yet not been constructed and employees forcefully residing in city away from mills about 40-50 daily basis who residing in city area. Opportunities They can attract growers from district Ghotiki as well as Rajan pur The land of the vicinity is very fruitful for the sugar Mills. The area at J.D.W Sugar Mills Limited is shining area of the Punjab for production of sugarcane. Threats May be competition will increase Changes in policies suffer the growers as well as employees. KM and travel on

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

Situational analysis Weig ht 1 Strength S1. market leader S3. wide setup farm S4. maturity stage S5. qualified and competent employees Weaknesses W2. Lack of departmental .05 coordination W3. price war in sugar mills .10 W5. Away from main cities Opportunities O4. Attracting growers O5. fruitful Land Threads T1. competition T4. Changes in policies Total Score .15 .10 4.5 2.5 0.675 0.25 3.625 Cost and quality Dissatisfaction .10 .10 3 2 0.3 0.2 More production More production .05 2.5 4 3.5 0.125 0.4 0.175 2 .20 .05 .05 .05 Ratin g 3 4.5 3.5 4.5 4 Weight Comments ed Score 4 0.9 0.175 0.225 0.2 5 High Market share Own raw material Efficient and effectively perform Better performance

Communication gap High Competetion High Transport Expense

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

VI. Strategies Alternatives and Recommended Strategies

TOWS MATRIX FOR JDW SUGAR MILL LTD

INTERNAL FACTOR 1 Strength S1. market leader S2. labor union S3. wide setup farm S4. maturity stage S5. qualified and competent employees Weaknesses W1. using manpower .05 4.5 4 3.5 4 4.5 0.225 0.4 0.175 0.4 0.45 4.20 STRATEGIC Weig ht 2 .20 .05 .10 .15 .10 Ratin g 3 4 2 4.5 5 4.6 Weight Comments ed Score 4 0.8 0.1 0.45 0.75 0.46 5 High Market share Direct communication with mgmt. Own raw material Efficient and effectively perform Better performance

means more expense W2. Lack of departmental .10 coordination W3. price war in sugar mills .05 W4. Salary package of lower staff W5. Away from main cities Total .10 .10

High Expense of Salary Communication gap High Competetion Low Performance High Transport Expense

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

TOWS MATRIX FOR JDW SUGAR MILL LTD

EXTERNAL FACTOR 1 Opportunities O1. Expansion of circle offices O2. car financing scheme O3. drought and recovery O4. attracting growers O5. fruitful Land Threads T1. competition T2. advertising campaign T3. technical knowledge T4. Changes in policies T5. switching cost Total Score .20 .05 .10 .05 .05 1.00 4.5 1.5 3 2 1 0.9 0.075 0.3 0.1 0.05 3.75 Cost and quality INCREASE IN COST JOB PERFORMANCE Disatisfaction Changing cost STRATEGIC Weig ht 2 .15 .05 .10 .05 .20 Ratin g 3 4.9 2.5 3 5 4.5 Weight Comments ed Score 4 0.735 0.125 0.3 0.25 0.9 5 Easy Supply Transport problem solve More production More production More production

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

TOWS MATRIX FOR JDW SUGAR MILL LTD

A. Strategic Alternatives (TOWS Matrix) Strength (S) INTERNA S1. market leader L rs S2. labor union Facto S3. wide setup farm S4. maturity stage S5. qualified and Competent External Factor employees Weaknesses (W) W1. using manpower means more expense W2. Lack of departmental coordination W3. price war in sugar mills W4. Salary package of lower staff W5. Away from main Opportunity (O) O1. Expansion of circle offices O2. car financing scheme O3. drought and recovery O4. attracting growers O5. fruitful Land SO Strategies Use cities WO Strategies Use the Latest For in to

International Market For Selling Sugar For Increase Seminars for in and the and

Technology Increase production incentives grower farmer

Better R and D Good

Production workshop employees worker

Good Incentives and rewards to hard work employees

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

Treads (T) T1. competition T2. advertising campaign T3. technical knowledge T4. Changes in policies T5. switching cost B. Recommended Strategies ST Strategies Try to increase Program WT Strategies Try to Keep long relationship employee to turnover

more market share Training for the Employees

term with

decrease

in competition
Get-together for Employee party

to know each other

At present facility of bonus is given only to production staff but such incentives should also be given to Head office Staff. Special incentives should also be given to Head on Eid and on other special days should be given to the workers. Medical facilities are given in mill but such facilities should also be given to management. Different training courses should be arranged for the up lifting and improving the quality of work for employees They provide transportation facility to only female employees I think male should also be provided with conveyance convenience. This will create the easiness for workers and reduce the wastage of time.

There is also a problem of work overload for the employees and it should be control properly so that the employees are motivated. Employees should be paid extra for the work which they done after working hours. Improvement in sugar crop yield through R&D and planning Improvement in procurement and storage to reduce wastages

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

Export potential of sugar/molasses Development of Industries for proper utilization of by-products by adding equipment (distillery, chipboard etc.) enhance revenues. Blending of fuel ethanol with petrol. Power co-generation by the sugar industry using Bagasse This can earn /

VII. Implementation The Implementation Have three Phases 1. Program 2. Budgets 3. Procedure Program The company should design a strategy for each program for the Purpose is to make the activities. They should follow the following step during making of a program tha it should be Feasibility Sequence execution Location Pace and nature of change Stakeholder evaluations strategy action-oriented. Compare proposed programs and activities with current programs and

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

Budgets During planning a budget it is the last real check a firm has on the feasibility of the selected strategy. They should compare with the pervious and current and future prospect of that implementation. Procedures Current top management and middle management try to implement this program with the consent of the Board of director and shareholder. And give detail of various activities that must be carried out to complete a corporations programs. If these three steps are followed then it will be easy to implement an effective and efficient program. And it should be financially feasible that it give benefit in short, inter, long term strategies

VIII.

Evaluation and Control

Process that ensures that the company is achieving what it set out to accomplish. Compares performance with desired results.

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

First we will determine the Performance data and activity reports that how the strategies related to achieving goals and objectives of the company and performance of top, middle and low management are working efficiently and effectively. In Second step we will establish predetermine standard for short, medium and long term strategies that we are following a proper policies and program that we are going to implement. The Third step is to Measure performance of policy and program that we have implemented for achieving current and future strategies. Fourth step is to match the performance with standard that we have created if we see that the match with the standard then we will stop here and we will implement that program. If not then in fifth step we will take corrective measures and then we will take corrective measure and then we will go back to 3rd and it will repeated until yes.

Control

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

There are three types of control which is very helpful to increase the performance . If we control these three controls then we will easily achieved the goals and objectives. Behavior Controls Here we will try to control the behavior by making policies rules for building and controlling relationship between top, middle and low management that will motivate to achieve the goals and objective of the company Output Controls In output control we will see result of our objective and target that we have set according to standard achieved or not. We have to control these output to increase the performance of the company Input Controls In Input we will check our Resources, knowledge, skills, values that we are applying to get a better output is according to our benchmark that we have set to implement the strategies and policies A. The current information system capable of proving sufficient feed back and it can measure the strategic factor in term of area, project and function. And it provide a timely information. And the company is also measuring the short, long and medium term goals and strategies by setting a special standard and benchmark for return on investment, EPS, Current Share , market price etc B. They have set an adequate measure in place to insure to achieve the goals and objectives. They have set the special rewards to the employees in term of intrinsic and extrinsic to motivate and for getting a proper output and building a long-term relationship with them.

If u want to download this project contact @ +923458014643

If u want to download this project contact @ +923458014643

Conclusions: JDW Sugar Mills is one of the leading groups in Pakistan. The system, the management style, the policies & decentralized decision making environment is really remarkable. This report is basically an attempt to identify the areas which need to be improved. In this era of technology, the Information is the key to success in the business. This means that the successful businessman will be who will have the right information at the right time. This comment leads to the conclusion that the Information Sharing Process should really be improved. The overall analysis is indicating that the companys progress has mainly attained through dedication of employees. The effectiveness of its management, their willingness to take advantage of opportunities and face challenges of changing economic picture, this all contributes to the very much improved and sound position of company. This is really appreciable for the devotion and hard work of all the employees of the company. References: http://www.jdw-group.com/Reports/JDW%20accounts_2011.pdf http://www.jdw-group.com/OurReports.html http://www wikipedia.com/crystalline sugar

If u want to download this project contact @ +923458014643