Day: December 2, 2020

Lahore, December 02, 2020 (PPI-OT): The Lahore Chamber of Commerce and Industry on Wednesday has urged upon the Cellular Companies to improve their signal quality as customer’s care is a key to success. They also urged Pakistan Telecommunication Authority (PTA) to take notice of the situation. While talking to delegations of various markets, President of the Lahore Chamber of Commerce and Industry Mian Tariq Misbah, Senior Vice President Nasir Hameed Khan and Vice President Tahir Manzoor Chaudhry said that weak mobile signals in major Lahore markets are affecting businesses badly, therefore, cellular companies and the Pakistan Telecommunication Authority (PTA) need to look into the matter urgently as it is hampering business activities, say businessmen.

Office-bearers of the Lahore Chamber of Commerce and Industry promised them that the LCCI would take up the issue at the highest level and would ensure its early resolution. They said the problem of poor mobile signals had increased and cellular companies were not paying attention to the complaints.

They said that Cellular companies are earning billions of rupees from the consumers but signal quality is going down with every passing day. They said that the Lahore Chamber of Commerce and Industry has received a number of complaints that signal quality is very poor in different parts of the city.

They said that only customer’s care can ensure the growth of telecom sector therefore not only the cellular companies but the government should take notice of this issue resolve it immediately. The LCCI office-bearers said that with the passage of time, the world has become global village and all the means of communication and business mode have shifted to cellular base that should be strong enough.

For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: http://www.lcci.com.pk/

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Karachi, December 02, 2020 (PPI-OT): VIS Credit Rating Company Limited (VIS) has reaffirmed entity ratings Yunus Textile Mills Limited at ‘AA-/A-1+’ (Double A Minus/A-One Plus). Long Term Rating of ‘AA-’ denotes high credit quality and strong protection factors. Risk is modest but may vary from time to time because of economic conditions. Short Term Rating of ‘A-1+’ signifies high certainty of timely payment; Short term liquidity, including internal operating factors and/or access to alternative sources of funds, is outstanding and safety is just below risk free Government of Pakistan’s short term obligations. Outlook on the assigned ratings is ‘Stable’. The previous rating action on YTML was announced on June 28, 2019.

The assigned ratings reflect Company’s leading market position, vertically integrated operations, diversified balance sheet, favorable business risk dynamics and strong financial risk profile. Ratings also reflect strong sponsor profile, with YTML being a wholly owned subsidiary of YB Holdings (Pvt.) Limited. Yunus Brother’s Group has robust financial profile with diversified presence in sectors including power generation, building materials, real estate, textile, chemicals, pharmaceuticals, food and automotive sectors.

YTML is amongst the leading home textile exporters in the country. The company enjoys strong franchise and is recognized as a quality product manufacturer with product line ranging from bed sheets, comforters, duvets, quilts, and pillow cases to curtains and table linens. Major export markets include USA, UK, France, and Sweden. Clients include a mix of fashion brands and top-tier retailers who have had a lengthy relationship with YTML.

The assigned ratings incorporate favorable industry dynamics as evident from supportive government policies and expected gradual shifting of orders from other key regional countries. Resultantly, management has embarked on capacity and efficiency enhancement across the value chain. A sizeable portion of the capex is expected in enhancing end-product capacities.

YTML’s performance in FY20 was characterized by consistent growth in topline with sustained profitability margins. Given the uptick in debt, cash flow coverage ratios like FFO-Long Term Debt and DSCR have been impacted, albeit these remain within the threshold for the assigned rating band. The company’s capital base grew by 35% in FY20, partly on account of internal capital generation and unrealized gain on investments. Given robust profitability and conservative dividend payout strategy, YTML’s low leverage indicators have been maintained. The assigned ratings remain dependent on maintaining low leveraged capital structure and margins, in line with the business risk profile assessment of YTML.

For more information, contact:
Director Compliance and Rating Analytics,
VIS Credit Rating Company Limited
VIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi, Pakistan
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: bilal@jcrvis.com.pk
Website: https://www.vis.com.pk/

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