Lahore, February 14, 2023 (PPI-OT):During CY22 the KSE-100 index benchmark declined by -9.36% due to political turbulence, heightened economic risks arising from devastating floods, elevated inflation, slowing economic growth, PKR devaluation, and declining foreign exchange reserves. PACRA ranked funds, includes the thirteen Funds. Faysal Asset Allocation Fund ranked 2-Star. The total return of the Faysal […]
Tag: PACRA
PACRA Upgrades Entity Ratings of Mehmooda Maqbool Mills Limited
Lahore, February 10, 2023 (PPI-OT):Pakistan’s edible oil industry is heavily reliant on imports since oilseeds and edible oil account for ~80% of the cost of production. Edible oil is the country’s 2nd largest import after petroleum. Total oilseed imports for FY23 are forecast to be 3.4MMT, unchanged from the estimated imports for FY22. Similarly, no […]
PACRA Maintain Entity Ratings of Denim-E (Private) Limited
Lahore, February 08, 2023 (PPI-OT):The ratings of Denim-E (Pvt.) Limited incorporates progressive growth of the Company in the initial years. The Company is a family-owned business. Apart from this company, the sponsor family is involved in real estate and Biogas businesses. Denim-E is principally engaged in the manufacturing and export of garments/made-up, clothing, knitwear, and […]
PACRA assigns Preliminary rating to K-Electric – PPSTS-13 – PKR 5 billion – TBI
Lahore, February 07, 2023 (PPI-OT):The ratings incorporate the strategic importance of K-Electric Limited, (“the Company” or “KE”) being a vertically integrated power utility, responsible for the generation, transmission, and distribution of electricity in Karachi and adjoining areas of Sindh and Balochistan. The company’s board of directors comprises of ten directors currently. Three vacancies are to […]
PACRA assigns Initial rating to K-Electric – PPSTS-12 – PKR 5bln – Dec-22
Lahore, February 03, 2023 (PPI-OT):The ratings incorporate the strategic importance of K-Electric Limited, (“the Company” or “KE”) being a vertically integrated power utility, responsible for the generation, transmission, and distribution of electricity in Karachi and adjoining areas of Sindh and Balochistan. The ownership stake is under the process of change. The company’s board of directors […]
PACRA Maintains Entity Ratings of Sabirs’ Vegetable Oils (Private) Limited
Lahore, February 03, 2023 (PPI-OT):Pakistan’s edible oil industry is heavily reliant on imports since oilseeds and edible oil account for ~80% of the cost of production. Edible oil is the country’s 2nd largest import after petroleum. Total oilseed imports for FY23 are forecast to be 3.4MMT, unchanged from the estimated imports for FY22. Similarly, no […]
PACRA assigns Initial rating to Lucky Electric Power Company Limited – PPSTS-6 – PKR 4bln – Dec-22
Lahore, February 03, 2023 (PPI-OT):Lucky Electric Power Company Limited (“LEPCL” or “the Company”) has set up a 1x660MW (gross) coal-fired power plant. The project achieved COD in March-22 and is successfully connected to and providing electricity to the grid. The primary fuel is Coal; a coal supply agreement is signed with Sindh Engro Coal Mining […]
PACRA assigns Initial rating to China Power Hub Generation Company (Private) Limited – PPSTS-2 – PKR 5bln – Dec-22
Lahore, February 03, 2023 (PPI-OT):The Ratings take comfort from the fact that this project is a priority project under CPEC and has significant economic and strategic importance. Presence of dedicated jetty at plant site and Coal Supply Agreement (CSA) with reputable international coal suppliers which ensure stable performance of the project provides more cushion to […]
PACRA assigns Initial rating to Mobilink Microfinance Bank Limited – PPTFC – Dec-22
Lahore, February 03, 2023 (PPI-OT):The ratings take comfort from the bank’s association with a leading global group – Veon Microfinance Holdings B.V (VMH) – and with Pakistan’s largest cellular operator – Jazz (formerly Mobilink). Sponsor’s commitment to the bank is witnessed in the form of both technical collaboration and financial support. Ensuing synergies have strengthened […]
PACRA Maintains IFS Rating of Salaam Takaful Limited
Lahore, February 01, 2023 (PPI-OT):Salaam Takaful Limited (“Salaam Takaful” or the “Company”), a dedicated Takaful company, has demonstrated unprecedented growth since the takeover by new shareholders and the CEO in 2018. Initially a motor-centric company, it has expanded its footprints into the other segment such as health and miscellaneous. The Company has increased focus on […]