PACRA Withdraws Entity Ratings of Tahir Omer Industries Limited
Subsequent to the decision of the management of Tahir Omer Industries Limited, PACRA withdraws the Entity Ratings with immediate effect.
Tahir Omer Industries Limited, Flagship Company of “KHALIS GROUP” incorporated in 1992 as a private limited company in Pakistan under the Companies Ordinance 1984. However, it was converted into a public company in 2012. The company is primarily engaged in manufacturing and sale of edible oil, ghee, meal and their by-products. Mr Rana Iqbal Hussain, the founder started his business in the name of his two sons. Majority of the shareholding of TOIL is owned by Mr. Rana Iqbal Hussain (~35%), followed by his two sons, Rana Tahir (~20%), Rana Omer (~20%) and M/s Khalis Welfare Foundation (~25%). The company under the brand of “Khalis”, flagship brand of Tahir Omer specializes in cooking oil (Canola & Sunflower) and Banaspati Ghee. With aggregate production capacity of 647,500 metric tons per annum, TOIL supplies edible and meal to large companies in bulk quantities.
TOIL’s board of directors, comprising three members including Chairman and Chief Executive Officer (CEO), comprised of the sponsoring family. The CEO, Mr. Rana Iqbal Hussain, also holds the office of the Chairman, since inception. Mr. Rana Iqbal Hussain (CEO & Chairman) - oversees daily operations. Mr. Iqbal is supported by an experienced management team.