Analyst
Muhammad Obaid
muhammad.obaid@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
Related Research
PACRA Withdraws Entity Ratings of M.A. Aleem Khan and Sons (Pvt.) Limited
Rating Type | Entity | |
Current (31-Dec-18 ) |
Previous (30-Jun-18 ) |
|
Action | Withdraw | Maintain |
Long Term | - | BBB+ |
Short Term | - | A2 |
Outlook | Stable | |
Rating Watch | - | - |
The management of M. A. Aleem Khan & Sons (Pvt) Limited (MAAKSONS) is not interested in continuation of the ratings process. Hence, PACRA withdraws Entity Ratings [Long Term BBB+, Short Term A2] of MAAKSONS with immediate effect.
About
the Entity
MAAKSONS officially registered as a Company in 1984 but has been in business since 1951. MAAKSONS scope of work comprises construction of roads and highways, bridges and structures, residential and commercial buildings, canals and tunnels, etc. Significant projects to its credit are Signal Free Corridor Islamabad Highway, Metro Lahore, 29 storey Telecom Tower Islamabad, Gulberg Green, 3x210 Thermal Power Station Muzaffargarh, Chashma Canal, etc. to name a few. It is currently focused on a few major projects in Lahore including, a multipurpose complex - Panta Square, a housing society - Prism 9, and a Signal Free Corridor in DHA. BOD comprises nine members, all of whom belong to the sponsoring family. They collectively have complete ownership of the company.