Analyst
Shahzaib Khalid
shahzaib.khalid@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
PACRA Withdraws Entity Ratings of Al-Hoqani Securities & Investment Corporation (Pvt.) Limited
Rating Type | Entity | |
Current (09-Oct-18 ) |
Previous (06-Jun-17 ) |
|
Action | Withdraw | Maintain |
Long Term | - | BB+ |
Short Term | - | A3 |
Outlook | - | Stable |
Rating Watch | - | - |
The management of the company is not interested in continuation of the entity rating of Al-Hoqani Securities and Investments (Pvt.) Ltd. Hence, PACRA withdraws entity ratings [Long Term: BB+, Short Term: A3] of the company with immediate effect.
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About
the Entity
AlHoqani Securities and Investment Corporation (Pvt.) Limited (established in March, 2005) was owned by Mr. Hoqani (99.9%). Its main activities include advisory services and equity brokerage. AlHoqani Securities is a key company for late Mr. Suleiman Ahmed Saeed Al Hoqani in Pakistan. Mr. Suleiman passed away on 9th of January, 2017.
The CEO, Mr. Syed Dawar Raza Kazmi has been associated with the company for above six years and is supported by an adequate team. He is an MBA from University of Karachi.