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The Pakistan Credit Rating Agency Limited
Press Release

Date
20-Jun-22

Analyst
Sohail Ahmed Qureshi
sohail.ahmed@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 Entity Ratings of Tufail Chemical & Surfactants (Pvt.) Limited

Rating Type Entity
Current
(20-Jun-22 )
Previous
(23-Dec-21 )
Action Withdraw Maintain
Long Term - A-
Short Term - A2
Outlook Stable
Rating Watch - -

Tufail Chemical & Surfactants (Pvt.) Limited (or "the Company") has been merged with and into the group's company, known as "Tufail Chemical Industries Limited."
Subsequent to the merger and as per the management's willingness, PACRA withdraws the Entity Ratings of Tufail Chemical & Surfactants (Pvt.) Limited with immediate effect.

About the Entity
Tufail Chemical & Surfactants (Pvt.) Limited was incorporated on September 02, 2009 as a private limited company. The Company is a family-owned venture and 99.6% of its shareholding is distributed among members of Tufail family. Out of which, Mr. Zubair Tufail along with his family members holds 51% and Mr. Pervez Tufail along with his family members owns 48.6%. The Company’s current capacity stands at 35,000 tones. The power requirement is met internally through gas fired generates.
The Company’s board comprises of five members with dominance of the Tufail family. Mr. Zubair Tufail is the Chairman of the board and is also the CEO of the Company. All directors carry executive roles. He holds a graduate degree and carries with him over four decades of experience in the organic and inorganic chemicals industry.

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.