Press ReleasePACRA Maintains Broker Fiduciary Rating of Cedar Capital (Pvt.) Limited
|Current (24-Jun-22 )
|The ownership has been divided into two family members wherein the majority of shareholding lies with Mr. Umair Amanullah.
|BoD comprises two professional members having experience in the financial services, however, room for improvement exists in board size.
|Management and Client Services
|CCPL's management team is well experienced. Integration of technology into systems results in high efficiency and customer satisfaction.
|Internal Controls and Regulatory Compliance
|The Company has established adequate risk management framework and has in house internal audit department to look after the internal controls.
|Ratings are constrained by the Company's significant dependence on equity brokerage operations, limited diversification of income streams.
|The Company has a reasonable capitalization level with the LCB and NCB standing at ~PKR 270mln and ~PKR 274mln respectively, at end-Dec'21.
|Key Rating Drivers
|About the Entity
|Year of Establishment
|Type of License
|Trading and Self-clearing
|Mr. Umair Amanullah | ~74%
| Afnan Iqbal
Methodology | Broker Fiduciary Rating | Jan-22
Sector Study | Brokerage & Securities | Jan-22
|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. 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 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.