The Ismaili factor B.C. companies owned or operated by Ismailis
>> Hotels and real estate:
Larco Group of Companies
Land developers specializing in hotel and retail properties throughout North America, and self-storage facilities in Vancouver. Holdings include Park Royal Shopping Centre, Whistler Village Centre and Larco Hospitality, which owns and/or manages hotels under such brands as Marriott, Renaissance and Hilton (e.g. Vancouver Airport Marriott and Renaissance Toronto Hotel Downtown).
Owners: Aminmohamed Lalji and family
Worth: An estimated $884 million
Land developers specializing in hotel and retail properties throughout North America, and self-storage facilities in Vancouver. Holdings include Park Royal Shopping Centre, Whistler Village Centre and Larco Hospitality, which owns and/or manages hotels under such brands as Marriott, Renaissance and Hilton (e.g. Vancouver Airport Marriott and Renaissance Toronto Hotel Downtown).
Owners: Aminmohamed Lalji and family
Worth: An estimated $884 million
Executive Group of Companies
Management and development of boutique hotels and suites. Family company owns five hotels (four in Vancouver, one in San Francisco) and is part owner of two others; it also has a stake in the publicly traded Executive Inn Group Corporation.
Owners: Noordin and Farida Sayani, and son Salim Worth: Projected revenue of $85 million in 2006 for the family-owned group of companies
Management and development of boutique hotels and suites. Family company owns five hotels (four in Vancouver, one in San Francisco) and is part owner of two others; it also has a stake in the publicly traded Executive Inn Group Corporation.
Owners: Noordin and Farida Sayani, and son Salim Worth: Projected revenue of $85 million in 2006 for the family-owned group of companies
Mayfair Hotels and Resorts
Privately owns and/or operates 10 hotels in Vancouver, Victoria and Nanaimo. Among the properties: Robson Suites, Hampton Inn & Suites and Landis Hotel & Suites in downtown Vancouver.
CO-owners: Akber Kassam and Zack Bhatia
Worth: N/A
Privately owns and/or operates 10 hotels in Vancouver, Victoria and Nanaimo. Among the properties: Robson Suites, Hampton Inn & Suites and Landis Hotel & Suites in downtown Vancouver.
CO-owners: Akber Kassam and Zack Bhatia
Worth: N/A
Pan Pacific Vancouver
AAA-rated five-diamond, 504-room hotel.
Owners: The Texas-based Mangalji family’s Westmont Hospitality Group, which has ownership interests in about 380 hotels worldwide. Pan Pacific’s asset manager is Zul Somani of Vancouver, who is a part owner of Vancouver’s Georgian Court Hotel, Granville Island Hotel and Le Soleil Hotel.
Worth: N/A
AAA-rated five-diamond, 504-room hotel.
Owners: The Texas-based Mangalji family’s Westmont Hospitality Group, which has ownership interests in about 380 hotels worldwide. Pan Pacific’s asset manager is Zul Somani of Vancouver, who is a part owner of Vancouver’s Georgian Court Hotel, Granville Island Hotel and Le Soleil Hotel.
Worth: N/A
Sodican (BC) Ltd.
Real-estate ownership and acquisitions; holdings include 64,000-square-foot office building in North Vancouver.
Owners: Azad and Yasmin Shamji
Worth: N/A
Real-estate ownership and acquisitions; holdings include 64,000-square-foot office building in North Vancouver.
Owners: Azad and Yasmin Shamji
Worth: N/A
>> Retirement homes:
Retirement Concepts
Private, 1,500-employee company; owns and/or operates 14 seniors’ facilities and three hotels.
Owners: Abdul and Shamim Jamal, and son Azim
Worth: N/A
Private, 1,500-employee company; owns and/or operates 14 seniors’ facilities and three hotels.
Owners: Abdul and Shamim Jamal, and son Azim
Worth: N/A
Amica Mature Lifestyles Inc.
Publicly traded company. Manages, markets, designs and develops luxury housing for seniors. There are 15 Amica Wellness & Vitality Residences across North America, plus five in development.
Owner: Manji family share is about 35 per cent.
Worth: Communities under Amica management are valued at $300 million (2006), with revenues under management of about $70 million.
Publicly traded company. Manages, markets, designs and develops luxury housing for seniors. There are 15 Amica Wellness & Vitality Residences across North America, plus five in development.
Owner: Manji family share is about 35 per cent.
Worth: Communities under Amica management are valued at $300 million (2006), with revenues under management of about $70 million.
>>Technology:
Xantrex Technology Inc.
Power electronics company with 500 employees; publicly traded as TSX:XTX with 29,922,185 common shares outstanding (as of March 31, 2006).
Ismaili factor: Mossadiq Umedaly, chairman, and vice-presidents Nazir Mulji and Al-Karim Kara
Revenue: US$143 million in 2005
Power electronics company with 500 employees; publicly traded as TSX:XTX with 29,922,185 common shares outstanding (as of March 31, 2006).
Ismaili factor: Mossadiq Umedaly, chairman, and vice-presidents Nazir Mulji and Al-Karim Kara
Revenue: US$143 million in 2005
Apparent Networks
Software developer focusing on networking and connectivity; clients include Telus and IBM, Boeing and Bell Canada; 45 employees total in Vancouver and Seattle.
Ownership: Co-founder and CEO Irfhan Rajani is significant investor-owner; other investors include Telus, IBM, BDC Venture Capital and GrowthWorks Capital.
revenue: Last-quarter revenues grew 200 per cent year-over-year (as of Feb. 2006).
Software developer focusing on networking and connectivity; clients include Telus and IBM, Boeing and Bell Canada; 45 employees total in Vancouver and Seattle.
Ownership: Co-founder and CEO Irfhan Rajani is significant investor-owner; other investors include Telus, IBM, BDC Venture Capital and GrowthWorks Capital.
revenue: Last-quarter revenues grew 200 per cent year-over-year (as of Feb. 2006).
Orbital Technologies Inc.
Employee-owned software developer for larger companies such as Microsoft and Adobe; 90 per cent of business is with U.S. and European clients.
Ismaili factor: Amyn Rajan, co-founder, president and CEO.
Worth: Less than $10 million in 2005
>> Retail:
Regency Auto Group
Lower Mainland Toyota, Lexus, Nissan and Infiniti car dealerships with 140
employees.
Owner: Amir Ahamed
Worth: Annual sales in the $130 million range
Lower Mainland Toyota, Lexus, Nissan and Infiniti car dealerships with 140
employees.
Owner: Amir Ahamed
Worth: Annual sales in the $130 million range
Sleep Shop
Four Lower Mainland locations selling specialty mattresses and bedroom suites.
Owners: Haji Manji and son Farouq
Worth: Revenues surpassed $3 million in 2005
Four Lower Mainland locations selling specialty mattresses and bedroom suites.
Owners: Haji Manji and son Farouq
Worth: Revenues surpassed $3 million in 2005
Shamin Jewellers Ltd.
Independent jeweller with 4,600-square-foot showroom.
Owner: Shahraz Kassam
Worth: Revenues of $1.69 million in 2005
Independent jeweller with 4,600-square-foot showroom.
Owner: Shahraz Kassam
Worth: Revenues of $1.69 million in 2005
>> Miscellaneous:
The Portables
Integrated provider of trade show equipment and exhibits; 11 locations with 90 employees throughout Canada.
Owner: Hanif Muljiani
Worth: Revenues of $13 million in 2005
Integrated provider of trade show equipment and exhibits; 11 locations with 90 employees throughout Canada.
Owner: Hanif Muljiani
Worth: Revenues of $13 million in 2005
FNMH Architecture
Designs airports, embassies, Ismaili centres, private residences and hotels worldwide. Headquarters in North Vancouver; branches in Pakistan and Nairobi.
Owners: Farouk Noormohamed, architect, and wife Farida, interior designer
Worth: Volume of construction at any give time equal to about $90 million
Designs airports, embassies, Ismaili centres, private residences and hotels worldwide. Headquarters in North Vancouver; branches in Pakistan and Nairobi.
Owners: Farouk Noormohamed, architect, and wife Farida, interior designer
Worth: Volume of construction at any give time equal to about $90 million
Golden Boy Foods Inc.
Western Canada’s largest manufacturer of peanut butter, with approximately 200 employees.
Owner: Virani family
Worth: Annual revenues estimated at more than $50 million
Western Canada’s largest manufacturer of peanut butter, with approximately 200 employees.
Owner: Virani family
Worth: Annual revenues estimated at more than $50 million
Orko Silver Corp.
Exploratory resource company with sole ownership in La Preciosa silver project in Durango, Mexico. Publicly traded as OK (TSX.V), with 56,826,471 shares outstanding.
Ismaili factor: Officer Minaz (Mike) Devji was a driving force behind the sale of Canada’s Kemess deposit for $200 million in 1996.
Worth: Company value approximately $45 million (compared to $8.32 million the previous year), based on shares trading at $0.79 in May 2006
Exploratory resource company with sole ownership in La Preciosa silver project in Durango, Mexico. Publicly traded as OK (TSX.V), with 56,826,471 shares outstanding.
Ismaili factor: Officer Minaz (Mike) Devji was a driving force behind the sale of Canada’s Kemess deposit for $200 million in 1996.
Worth: Company value approximately $45 million (compared to $8.32 million the previous year), based on shares trading at $0.79 in May 2006
Retrieved: http://www.bcbusinessonline.ca/2006/07/01/ismaili-success-made-vancouver?page=5&#featurelist
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