Lahore, December 28, 2020 (PPI-OT): The ratings reflect Siddiqsons Tin Plate Limited’s (“Siddiqsons Tinplate” or the “Company”) established foothold in the tin plate industry as the first and sole local manufacturer of tin plate in Pakistan with a market share of ~30% in the local market. The demand for the …

Lahore, December 28, 2020 (PPI-OT): The rating incorporates Atlas Asset Management Limited’s (or the “Company”) stable market share, experience management team, structured investment decision process and adequate risk management framework. Strong ownership and good governance profile also provide support to the rating. The Company has an adequate product slate and …

Lahore, December 28, 2020 (PPI-OT): The ratings denote Airlink’s adequate operational sustainability underpinned by its solid market position and diversified earnings from its mobile distribution business. Over the last few years, the Company has improved its business profile. Topline is witnessing an ample growth on a Year-on-Year basis owing to …

Lahore, December 28, 2020 (PPI-OT): The ratings reflect significant pressure on the company’s financial profile, emanating from substantially high UFG disallowance and other matters pertaining to operating / non-operating income. The management has cushioned it through various integral steps including the establishment of UFG hub on DMD level; reflecting effectiveness …

Lahore, December 28, 2020 (PPI-OT): The ratings reflect PNSC’s strong ownership – majority owned by the Government of Pakistan (89.13%) – and its strategic significance as the country’s national flag carrier. The Corporation operates on a “One Vessel One Company” basis. PNSC’s business profile has gained significant strength in recent …

Lahore, December 28, 2020 (PPI-OT): The ratings reflect EFG Hermes Pakistan Limited’s (“EFG Hermes” or “The Company”) association with an international financial services group “EFG Hermes” having access to emerging and frontier markets. The Company has carved its footprints in thirteen countries across four continents, spanning 35 years of growth. …

Lahore, December 28, 2020 (PPI-OT): Usmani International Associates (UIA) has been operating in the construction industry for many decades. Construction business is dependent on award of public works and initiatives taken by the public and private sector, muted activity is witnessed therein; furthermore, the countrywide lockdown to combat Covid-19 pandemic …