Analyst
Ayesha Qasim
ayesha.qasim@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
PACRA Suspends Broker Management Rating of Shajar Capital Pakistan (Pvt.) Limited
Rating Type | Broker Management | |
Current (23-Apr-22 ) |
Previous (23-Apr-21 ) |
|
Action | Suspended | Maintain |
Long Term | BMR3 | BMR3 |
Short Term | - | - |
Outlook | Stable | Stable |
Rating Watch | - | - |
Due to non-availability of requisite information, the rating of the Company has been suspended.
PACRA dues have also not been paid.
About
the Entity
Shajar Capital Pakistan (Private) Limited was formed through the acquisition of Crosby Securities in 2010, which was renamed as Burj Capital initially and now as Shajar Capital. The Company’s prime business is equity brokerage, commodity brokerage and consultancy and advisory. The Company is a subsidiary of Dar ul Shifa International (Private) Limited, which holds 89% shares. Remaining stake lies with Mr. Syed Ali Farhan Razi and Mr. Javed Yousuf Ahmedjee. Mr. Amir Waliuddin Chishti is the Chairman of the board. He is associated with Chishti group of companies and is also the Chairman of Dar ul Shifa (Pvt.) Limited. The CEO Mr. Rehan Ateeq and the Head of Research has resigned recently.