PACRA Maintains Entity Ratings of Sindh Microfinance Bank Limited
Lahore, March 29, 2023 (PPI-OT): The ratings reflect the parentage and association of the bank with a financial institution and ultimately with a sub-sovereign. The bank has a conservative risk appetite. With the changing market conditions, the asset infection ratio stood at 3% as of end-Dec’22. The net profitability of the bank exhibited growth to…
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PACRA Maintains Stability Rating of Alfalah GHP Cash Fund
Lahore, March 29, 2023 (PPI-OT): The rating reflects strong risk profile of the Alfalah GHP Cash Fund’s (or the “Fund”). The Fund’s good credit quality and sound liquidity profile emanate primarily from its mandate to invest in Government Securities and in bank deposits. At end Dec’22, ~50.8% of Funds assets were allocated to T Bills,…
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PACRA Maintains Entity Ratings of Gharibwal Cement Limited
Lahore, March 29, 2023 (PPI-OT): Gharibwal Cement (the Company) has annual production capacity of 2.1mln tons. The Company has been conducting its business by selling cement to the localities located in close vicinity to the plant located in Ismail Wal District Chakwal. Gujranwala division remained the Company’s key market. The cement sector latest period 1HFY23…
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VIS Assigns Initial Entity Ratings to Agriauto Stamping (Private) Limited
Karachi, March 29, 2023 (PPI-OT): VIS Credit Rating Company Ltd. (VIS) has assigned initial entity ratings of ‘A-/A-2’ (Single A Minus/A-Two) to Agriauto Stamping Company Private Limited (‘ASC’ or ‘the Company’). Long Term Rating of ‘A-’ reflects good credit quality; protection factors are adequate. Risk factors may vary with possible changes in economy. Short Term…
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VIS Assigns Initial Entity Ratings to Biotech Energy (Private) Limited
Karachi, March 29, 2023 (PPI-OT): VIS Credit Rating Company Limited (VIS) has assigned initial entity ratings of ‘A/A-2’ (Single A/ A-Two) to Biotech Energy (Private) Limited (Biotech). The medium to long-term rating of ‘A’ denotes good credit quality; protection factors are adequate. Risk factors may vary with possible changes in the economy. Short-term rating of…
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VIS Credit Rating Company assigns final rating to Short Term Sukuk (STS-15) of K-Electric Limited
Karachi, March 29, 2023 (PPI-OT): Upon review of executed legal documents, VIS Credit Rating Company Limited (VIS) has finalized the rating of A-1+ (Single A One Plus) to KE’s Short Term Sukuk (STS-15) issue. Short-term rating of A-1+ reflects highest certainty of timely payment; short-term liquidity, including internal operating factors and/or access to alternative sources…
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MMBL Partners with Careem to Offer Subsidized Travel Services for its Employees
Islamabad, March 29, 2023 (PPI-OT): Mobilink Microfinance Bank Limited (MMBL) has entered into a new partnership with Careem, Pakistan’s largest ride-hailing service, to provide discounted and subsidized intra as well as inter-city travel services for its employees. The initiative is designed to bring ease and convenience for MMBL employees and their families, enabling them to…
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Pakistan attaches high importance to ties with Ukraine, Russia: FM
Foreign Minister Bilawal Bhutto Zardari says Pakistan attaches high importance to its bilateral ties with Ukraine and Russia. He was talking to ambassador-designate to Ukraine, who called on him in Islamabad on Wednesday.The Foreign Minister reiterated…
PM vows to address gas load-shedding issue during Sehar, Iftar
Prime Minister Muhammad Shehbaz Sharif has assured to address the complaint of gas load-shedding during Sehar and Iftar time.Responding to the point of Agha Rafiullah in the National Assembly today, the Prime Minister said he has already taken notice o…
Fuzhou — A City Worth Revisiting Time and Again
FUZHOU, China, March 28, 2023 /Xinhua-AsiaNet/– Recently, the promotional video of Fuzhou of Fujian Province, titled “What You Did Not Know about Fuzhou — Cultural Tourism Economy”, was released through overseas social media accounts including “Oriental.Paris”, “Discover Fujian” and “Discover Fuzhou”. With the classical and fashionable elements, the beauty of the mountains and the sea, […]