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The Pakistan Credit Rating Agency Limited
Press Release

Date
26-Apr-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 Alfalah CLSA Securities (Pvt.) Limited

Rating Type Broker Management
Current
(26-Apr-23 )
Previous
(29-Apr-22 )
Action Withdraw Maintain
Long Term - BMR2+
Short Term - -
Outlook Stable
Rating Watch - -

Subsequent to the management's decision to discontinue the Broker Management Rating, PACRA withdraws the Broker Management Rating of Alfalah CLSA Securities (Pvt.) Limited.
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About the Entity
Alfalah CLSA Securities (Pvt.) Limited is a TREC holder of the Pakistan Stock Exchange. ACLSA was incorporated in 2003 as a Private Limited Company and has been operating since 2004. ACLSA is registered with SECP under Securities Brokers Regulations 2016. ACLSA is primarily owned by Bank Alfalah Limited with a stake of ~62% while ~25% shares are vested with CLSA Limited. The Company’s board is comprised of six members, including the CEO. Four members represent Bank Alfalah Limited while Mr. Edward Park, represents CLSA. Mr. Asim Wajid is entrusted with the responsibility of Chairman of the Board. The CEO, Mr. Atif Mohammed is a qualified professional having over 24 years of experience in Equity Brokerage and Capital Markets with reputable institutions.

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.