PACRA Maintains Entity Ratings of Optimus Capital Management (Pvt.) Limited.
The ratings of Optimus Capital reflect its well-conceived strategy to keep financial risk low. This mainly emanates from i) prohibition to perform proprietary exposure/trading in stocks and debt-free capital structure. The ratings of the Company demonstrate its strong position in mid-tier brokerage houses emanating from established institutional client relationships.The company has clearly defined its organizational structure with most of the heads reporting to CEO, seasoned top management, sound risk management and compliance procedures provides support to the rating. Whereas, the governance framework can be strengthened further. The Net Capital balance and equity of Company stood at ~PKR 208mln and ~PKR 317mln, respectively, as at 31st Dec'19.
The ratings are dependent on the company’s ability to strengthen its emerging position and improve revenues. Retention of the key personnel, improvement in governance and sustainability of profits is critical for ratings. Meanwhile, upholding strong internal controls and diligent monitoring of risks is important.
Optimus Capital Management (Private) Limited, formerly known as Millennium Capital Management (Pvt) Ltd, was incorporated in 2004. The company’s prime business is equity brokerage, financial advisory, equity investments research and corporate finance services to individual and institutional clients.The company is wholly owned subsidiary of Optimus Holdings (Private) Limited (formerly Peabody Associates Private Limited). The two sponsors of Optimus Holdings, Mr. Asif Ali Qureshi and Mr. Jawad Amjad, have more than two decades of experience in the financial sector of Pakistan. The company’s board is composed of two directors, Mr. Asif Ali Qureshi and Mr. Muhammad Ovais Ahsan. Mr. Asif is the Executive Chairman and Mr. Ovais Ahsan is the CEO of the company.