Analyst
Sehar Fatima
sehar.fatima@pacra.com
+92-42-35869504
www.pacra.com
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Related Research
PACRA Withdraws Entity Ratings of Maple Leaf Cement Factory Limited
Rating Type | Entity | |
Current (25-Sep-19 ) |
Previous (29-Mar-19 ) |
|
Action | Withdraw | Maintain |
Long Term | - | A+ |
Short Term | - | A1 |
Outlook | - | Stable |
Rating Watch | - | - |
Subsequent to the decision of the management of Maple Leaf Cement Factory Limited to discontinue the ratings, PACRA withdraws the Entity Ratings of Maple Leaf with immediate effect.
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About
the Entity
Maple Leaf Cement Factory Limited – a Kohinoor Maple Leaf Group (KMLG) Company – established in 1956 and is listed on Pakistan Stock exchange. The group, through Kohinoor Textile Mills, owns majority stake (~55%) in the company, while the rest is widely spread among general public and Financial Institutions. KMLG mainly maintains interests in cement and textile sectors. Overall control of the company vests in eight-member board. BoD is dominated by Saigol family, with five members, including the CEO. Mr. Sayeed Saigol, the CEO, is heading the company.