2020 August : AsiaNet-Pakistan

Archive for August, 2020

PACRA Maintains Entity Ratings of Khas Textile Mills (Private) Limited

August 31, 2020 |

Lahore, August 31, 2020 (PPI-OT): The ratings reflect the small yet adequate business profile of Khas Textile Mills (Pvt.) Limited emanating from a relatively small revenue base, thin margins, and profitability. The Company is associated with Khas Group of Industries. The Company manufactures various types of the cotton ring and open-end yarn. Despite challenging textile […]

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PACRA Maintains Entity Ratings of BE Energy Limited

August 31, 2020 |

Lahore, August 31, 2020 (PPI-OT): The ratings reflect BE Energy Limited association with a strong sponsor – Saudi based Bakri Group. The sponsor has presence globally in energy related businesses including operating in the downstream oil segment in various countries of Asia and Africa. The group has also been operating in Pakistan since 1994 as […]

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PACRA Maintains Asset Manager Rating of Lakson Investments Limited

August 31, 2020 |

Lahore, August 31, 2020 (PPI-OT): The rating incorporates well defined strategy of Lakson Investments Limited (the “Company”) to cater to the investment needs of institutional and high net worth investors. Strong ownership and governance profile provide support to the rating. The Company has well defined organizational structure, strong risk management framework, seasoned management team, innovative […]

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PACRA Assigns Initial Entity Ratings to National Transmission and Despatch Company Limited

August 31, 2020 |

Lahore, August 31, 2020 (PPI-OT): The ratings also take support from National Transmission and Despatch Company’s (NTDC) ownership structure-dominantly owned by the Government of Pakistan (GoP) holds strategic importance to the authorities, as being a semi-autonomous power transmission utility; it is mandated to construct, maintain and operate an integrated network of 500 kV, 220 kV […]

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PACRA Maintains Rating of Engro PowerGen Thar (Private) Limited – Privately Placed Sukuk of PKR 3,000mln

August 31, 2020 |

Lahore, August 31, 2020 (PPI-OT): Engro Energy Limited (EEL) along with China Machinery and Engineering Corporation (CMEC) has set up first Thar coal based (2 x 330 MW) power plant (Complex) – Engro Powergen Thar (Pvt.) Limited (EPTL). The project achieved financial close (FC) in Apr-16 and COD in July-19. RCOD was June-19 as per […]

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PACRA Maintains Stability Rating of NBP Government Securities Plan-I

August 31, 2020 |

Lahore, August 31, 2020 (PPI-OT): The rating reflects the strength of the plan’s credit and liquidity risk profile. The plan’s good credit quality and sound liquidity profile emanates primarily from its mandate to invest at least 90% of its AUMs in Government Securities. At end Jun’20, 88% of plan’s assets were invested in PIBs, whereas […]

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PACRA Maintains Entity Ratings of Fazal Rehman Fabrics Limited

August 31, 2020 |

Lahore, August 31, 2020 (PPI-OT): The ratings reflect Fazal Rehman Fabrics Limited’s (Fazal Rehman Fabrics) favourable business profile characterized by sizable revenue base and healthy margins. Despite the lockdowns around the world, including Pakistan, the Company’s topline grew by ~5%. Fazal Rehman Fabrics possess a strong financial profile, emanating from robust working capital cycle and […]

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PACRA Maintains Entity Ratings of Ahmed Fine Textile Mills Limited

August 31, 2020 |

Lahore, August 31, 2020 (PPI-OT): The ratings reflect Ahmed Fine Textile Mills (Ahmed Fine) association with renowned business groups of Pakistan. The Company is primarily engaged in the spinning business and also has presence in weaving segment through a wholly owned subsidiary – Fazal Rehman Fabrics Limited. The ratings incorporate the Company’s adequate business operations […]

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Excellent Performance of National Accountability Bureau

August 31, 2020 |

Islamabad, August 31, 2020 (PPI-OT): Corruption is a curse and is the only solution to eradicate menace of corruption is surgery as the corrupt elements inflicted multiple losses to the country. Corruption is inflicting irreparable losses to country. National Accountability Bureau (NAB) was established in 1999. The main aim of establishing NAB was to recover […]

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Pakistan keen to strengthen ties with Azerbaijan in diverse fields: President

August 31, 2020 |

Islamabad, August 31, 2020 (PPI-OT): President Dr Arif Alvi on Monday said Pakistan was keen to strengthen ties with Azerbaijan in the fields of tourism, trade, defence and energy. Talking to Bilal Hayee, the newly appointed ambassador for Azerbaijan, the President said Pakistan gave utmost importance to its relations with Azerbaijan. President Alvi said Pakistan […]

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Pakistan Navy’s relief operation continues in rain-hit areas of Karachi

August 31, 2020 |

Karachi, August 31, 2020 (PPI-OT): Pakistan Navy’s relief operation continued in rain-hit areas of Karachi and Sindh. Pakistan Navy teams, besides rescue operation, provided cooked food, necessary ration items and established medical care centers for assistance of distressed populous. Pakistan Navy has augmented relief and rescue activities in Karachi and Badin, Sindh. Pakistan Navy assisted […]

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Weather Forecast

August 31, 2020 |

Islamabad, August 31, 2020 (PPI-OT): Synoptic Situation Strong monsoon currents from Arabian Sea are penetrating in central and upper parts of the country. A westerly wave is also present over north-western parts of the country. Monday Rain-wind/thundershowers are expected in Sindh, Punjab, Khyber Pakhtunkhwa, Kashmir and Gilgit-Baltistan. While, heavy falls are also likely to occur […]

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