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The Pakistan Credit Rating Agency Limited
Press Release

Date
16-May-23

Analyst
Afnan Iqbal
afnan.iqbal@pacra.com
+92-42-35869504
www.pacra.com

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This press release is being transmitted for the sole purpose of dissemination through print/electronic media. The press release may be used in full or in part without changing the meaning or context thereof with due credit to PACRA

PACRA Withdraws Broker Management Rating of AHM Securities (Pvt.) Limited

Rating Type Broker Management
Current
(16-May-23 )
Previous
(14-Jun-22 )
Action Withdraw Initial
Long Term - BMR3+
Short Term - -
Outlook Stable
Rating Watch - -

Subsequent to the management's decision to discontinue the rating, PACRA withdraws the Broker Management Rating of AHM Securities (Pvt.) Limited.
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About the Entity
AHM Securities (Pvt.) Limited is primarily engaged in the provision of equity brokerage services. Ownership of the Company lies within the same family. The Chairman, Mr. Adam Haji Muhammad, owns ~99.6% of the total shares. The rest of the shareholding lies with Mr. Anis Haji Muhammad and Mr. Feroz Haji Muhammad. The board of directors comprises of three members all of whom are the shareholders' family members. The Chairman, Mr. Adam Haji Muhammad, possesses enormous experience in capital markets as he has been working as a stock broker for over 25 years. Mr. Hammad Tahir has been serving as the Chief Executive Officer of the Company since its inception. He is a qualified professional and holds a Master’s degree in Business Administration and Economics.

The primary function of PACRA is to evaluate the capacity and willingness of an entity to honor its obligations. Our ratings reflect an independent, professional and impartial assessment of the risks associated with a particular instrument or an entity. PACRA's comprehensive offerings include instrument and entity credit ratings, insurer financial strength ratings, fund ratings, asset manager ratings and real estate gradings. PACRA opinion is not a recommendation to purchase, sell or hold a security, in as much as it does not comment on the security's market price or suitability for a particular investor.