2019 August 29 : AsiaNet-Pakistan

Archive for August 29th, 2019

Engr. Daroo Khan appeals to organize rallies and show solidarity with Indian Occupied Kashmiris

August 29, 2019 | General Business News

Karachi, August 29, 2019 (PPI-OT): Engr. Daroo Khan Achakzai, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in a statement issued today has expressed his strong support and solidarity with the oppressed people of Indian Occupied …

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PACRA Maintains IFS Rating of IGI General Insurance Limited (29-08-2019)

August 29, 2019 | General Business News

Lahore, August 29, 2019 (PPI-OT): The rating of IGI General Insurance Limited draws comfort from the growing business volume under the stewardship of an able team. The composition of the book is well balanced with almost equal proportion emanating from …

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Careem Now Lets You Book Rides Through WhatsApp (29-08-2019)

August 29, 2019 | General Business News

Karachi, August 29, 2019 (PPI-OT): Careem has introduced a new convenient way for customers to book their Careem rides through WhatsApp. Ride-hailing applications like Careem are a relatively new concept and were introduced in Pakistan just a few years ago …

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PACRA Maintains Entity Ratings of Ahmed Fine Textile Mills Limited (29-08-2019)

August 29, 2019 | General Business News

Lahore, August 29, 2019 (PPI-OT): The ratings reflect Ahmed Fine Textile Mills (Ahmed Fine) association with renowned business groups of Pakistan – jointly owned by Fazal Group and Hussain Group. The Company is primarily engaged in the spinning business and …

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PACRA Maintains IFS Rating of Takaful Pakistan Limited (29-08-2019)

August 29, 2019 | General Business News

Lahore, August 29, 2019 (PPI-OT): Takaful Pakistan Limited, a dedicated Takaful company, has witnessed signs of revival in its business and financial profile after the acquisition by new owners. The group of new sponsors reflect a balanced mix of business …

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PACRA Maintains IFS Rating of Alfalah Insurance Company Limited (29-08-2019)

August 29, 2019 | General Business News

Lahore, August 29, 2019 (PPI-OT): The rating recognizes Alfalah Insurance’s maintained financial profile, emanating from i) well managed insurance assets/liabilities structure, and ii) investment book that contributes a sizeable income stream and provide cushion to the bottom line. Rating also …

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PACRA Assigns Initial Rating to K-Electric Limited – Islamic Commercial Paper of PKR 8bln

August 29, 2019 | General Business News

Lahore, August 29, 2019 (PPI-OT): K-Electric has lately published the annual report for the year ended 30th June, 2017. The company’s net profit took dip during FY17 as compared to last year owing to significant reduction in tariff level along …

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PACRA Maintains Entity Ratings of Hi-Tech Edible Oils (Private) Limited (29-08-2019)

August 29, 2019 | General Business News

Lahore, August 29, 2019 (PPI-OT): Pakistan is a leading consumer of edible oils and the industry is heavily reliant on imports. Additionally, low domestic oil seed production caused by a distortion in support price mechanism for wheat and sugar cane …

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PACRA Maintains Entity Ratings of Fazal Rehman Fabrics Limited (29-08-2019)

August 29, 2019 | General Business News

Lahore, August 29, 2019 (PPI-OT): The ratings reflect Fazal Rehman Fabrics Limited’s (Fazal Rehman Ltd.) improved business profile characterized by sizable revenue base and strong profitability. The top line grew by ~41% in FY19 due to partial impact of last …

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PACRA assigns positive outlook to Shaheen Insurance Company Limited (29-08-2019)

August 29, 2019 | General Business News

Lahore, August 29, 2019 (PPI-OT): The rating reflects Shaheen’s Insurance strong parentage – Shaheen Foundation – ensuring the financial soundness of the company while augmenting its business operations and control environment through active vigilance. The significant improvement in the liquidity …

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PACRA Assigns Initial Rating to Hub Power Company Limited – Privately Placed Sukuk of PKR 7bln

August 29, 2019 | General Business News

Lahore, August 29, 2019 (PPI-OT): The rating reflects the holding company character of Hubco with an exclusive focus on the different dimension of the energy sector. In addition to the investment book, Hubco itself is a large RFO based power …

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PACRA Maintains IFS Rating of Atlas Insurance Limited (29-08-2019)

August 29, 2019 | General Business News

Lahore, August 29, 2019 (PPI-OT): Atlas Insurance is a mid-sized insurance company with a constantly growing underwriting performance as a result of quality insurance business and a stable business mix. The rating takes into account robust liquidity profile, providing strong …

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