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The Pakistan Credit Rating Agency Limited
Press Release

Date
05-Feb-22

Analyst
Shayan Farooq
shayan.farooq@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 Sadiq Oil Extraction Pvt. Limited

Rating Type Entity
Current
(05-Feb-22 )
Previous
(06-Aug-21 )
Action Withdraw Maintain
Long Term - BBB-
Short Term - A3
Outlook Stable
Rating Watch - -

Subsequent to the management's decision to discontinue the entity ratings of Sadiq Oil Extraction (Pvt.) Limited. PACRA withdraws the entity ratings with immediate effect.

About the Entity
Sadiq Oil was incorporated in 2013 and is primarily engaged in oilseed filtering and crushing, oil extraction, and refining. Presently, the Company has two solvent extraction plants with a crushing capacity of 600 MT/day. While the chemical refinery can semi-refine up to 300 MT/day. Physical refinery has a refining capacity of 200 MT/day, while. Ghee plant has a capacity of 250 MT/day. The Company's business line includes three different products (semi-refined edible oil, refined and branded edible oil, and meal) in three variants (Soybean, Canola, and Sunflower).
Shareholding of the Company vests with Mrs. Saadia Sadiq (22%) and her sons: M. Arsal (25%), M. Sanan (27%), and M. Saad (27%).

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.