Sheikh Muhammad Ibrahim: A humble heart

Serving as the chief executive officer of Cannon Foam Industries, one of the leading foam manufacturers in Pakistan, Sheikh Muhammad Ibrahim has graduated from the Forman Christian College, a Chartered University.

Set up with the seed money of Rs12.5 million that also included working capital of just Rs2.5 million almost 25 years ago, Cannon is now a multi-billion-rupee enterprise dealing in foam, spring mattresses and furniture.

Starting the business with the financial help of his father, he has established a reliable brand, with negligible number of claims.

After the traditional foam brand got good market share, this humble entrepreneur has successfully launched spring mattresses and furniture. He is very much satisfied with the overall growth and career progression of his children (two sons and a daughter). With a passion to help the poor, he has set up a quality institution for providing low-cost education facilities up to secondary level.

Besides regularly arranging free eye camps, he is also providing funds to a dialysis centre. Sheikh Muhammad Ibrahim is also providing ration to more than 50 employees every month.

Having an interest in business politics, he has been twice elected as the Executive Committee member of the Lahore Chamber of Commerce and Industry.

Following are the excerpts of an informal discussion with him:

What was your first business venture?

After graduation, my father helped me in starting my own business. Of the Rs12.5 million, I spent Rs10 million on the purchase of land, setting up a factory and importing machinery. I started manufacturing and marketing of foam mattresses with the working capital of Rs2.5 million. I always focused on quality and customer care. The hard work, commitment and honesty led to an unprecedented success of the brand. Now, the Cannon Foam is the third largest selling brand in the country with an annual turnover of around Rs4.5 billion. Spring mattresses and furniture business is also going on successfully.

What is your biggest achievement?

I have taught my children humility, respect for elders and love for human beings. I am a satisfied father, husband and brother. I managed to establish a reliable brand with hard work, dedication and focus on quality. Confidence of customers is an asset for me. Our products have negligible complaints and claims for return.

Who is your inspiration?

My father Sheikh Muhammad Yasin is my inspiration. He was the first businessman in the family. Starting from scratch, soft spoken and a humble man [my father] managed to build a big business empire with dedication and hard work. I learnt business ethics from him. I am trying to continue the legacy of my father.

What is your greatest fear in life?

I want this legacy and good name to continue.

How do you take part in public welfare?

I have been a member of the Lions Clubs International since 1990. This experience helped me fulfil corporate social responsibility. I am funding a school for providing affordable education up to matriculation. Facilitating the treatment of the deserving patients has always been my priority. I am providing funds for running a dialysis centre, besides arranging free eye camps. Employees’ welfare is also a priority. I am providing a monthly ration to 50 employees.

What is your favourite sport? Have you ever been an athlete yourself?

Cricket! As a young man I played cricket till my college days. I was also fond of kite-flying, which I quit due to serious hazards. I also love watching lawn tennis.

Your favourite sportsman?

Andre Agassi. During my college days, his portrait was an integral part of my bedroom.

Your hobbies?

Supporting marginalised communities is my passion. I am always ready to support the needy. I also love to arrange free leadership development courses for the intending entrepreneurs.

Do you listen to music?

I love music, especially ghazals, classical and light music. Mehdi Hassan, Ustad Ghulam Ali, Muhammad Rafi, Kishore Kumar and Lata Mangeshkar are my favourite singers.

How many hours do you work in a day?

I usually spend 10 to 12 hours.

Which is your favourite holiday destination and why?

I am a mountain, beach and nature lover. Seattle (USA) is among my favourites due to scenic beauty and unpredictable weather. In Pakistan, Khyber-Pakhtunkhwa, Kashmir and Gilgit-Baltistan are my favourites. There is a need to improve the road infrastructure and provide necessary facilities for promoting tourism in these areas.

iPhone or Android phones?

Android, as it is a user-friendly device.

Which clothing brands do you frequently wear?

I can wear any quality-conscious brand. I even get my clothes stitched.

What inspires you to join business politics?

LCCI’s former vice president Nasir Saeed encouraged me to join business politics to help the community. I desired playing the role of an educator and a facilitator for the business community.

What can make the business environment easy and encouraging?

The pandemic has played havoc with the economy. Either the policymakers have no knowledge or they have least interest in improving the situation. The business environment is extremely tough for the new entrants. The existing players are fighting for their survival. The new entrants should be given proper guidance through one-window and tax exemptions. The government should ensure a stable rupee and give due attention to the cottage industry and Small and Medium Enterprises.

What is the future outlook of the overall business environment in Pakistan?

I am not optimistic about the future of business unless the government introduces a workable monetary policy and provides an enabling atmosphere to the SMEs and cottage industries. The government should give confidence to the business community and ensure stability of exchange rates at least for a couple of years.

His son Sheikh Huzain said: “My father is my ideal who is always ready to help others. He is like a friend with whom we can discuss any issue. For giving me confidence, he has provided me capital to start my own poultry business.”

Sheikh Hunain, also his son, said: “He is a role model for me and my siblings. My father is loving and caring not only for his family but also for all the employees. Good thing about him is that he is always ready to help his fellow businessmen in resolving their problems. He loves giving a helping hand to the people in need. I am learning a lot while working with him.”

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