ACER PETROLEUM

INTRODUCTION

Acer Petroleum Ltd(T)is the youngest entrant in our Group. Incorporated in the United Republic of Tanzania on 16th March 2005. Its principal objective is importation and bulk distribution of Petroleum and other related products.

The incorporation of this company helped in creating a synergy with the retail arm of the group (MMPL). AP is a major player in the petroleum sector in East African market.

STORAGE FACILITIES

In 2008 the company plans to build at Dar its own state of the art depot with a capacity of 48 million litres. It will have 6 tanks of 8million litre each. This depot will help company to have its own storage facility, presently hired from other service providers. Towards this objective the company has already acquired a plot of about 4 acres in the vicinity of the Dar-es-Salaam port.

Acer Petroleum Ltd (T) is the youngest entrant in our Group. Incorporated in the United Republic of Tanzania on 16th March 2005. Its principal objective is importation and bulk distribution of Petroleum and other related products.

The incorporation of this company helped in creating a synergy with the retail arm of the group (MMPL). AP is a major player in the petroleum sector in East African market.

Acer Petroleum (T) Ltd has storage facility (hospitality contracts) for upto 15,000 metric tones (Approximately 18 million litres)

MANAGEMENT & ORGANISATION STRUCTURE

The Board of Directors includes Arvind Mittal, Atul Mittal and Sarvesh Jain. They are responsible for achieving the desired goals of the shareholders. The day to day affairs of the Company are managed by professional managers having adequate qualification and experience.

Acer Petroleum Limited is a professionally managed company. The company operates under dynamic leadership of Mr. Arvind and Atul Mittal. They are supported by professionally qualified managers who specialise in their own field. A brief description of their profile is being given below:

The company operates under the leadership of Group Managing Director Mr. Atul Mittal who is a visionary in Management of Petroleum Business. The group has expanded its operations and currently operates into Tanzania, Zambia and Rwanda. Acer is professional managed company headed by MD Mr. Alnoor Velani under the guidance of shareholding directors Mr. Arvind Mittal and Mr. Sarvesh Jain both of whom are extensively experienced in Petorleum business in East AfricaThe profile of the managers are below:

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