Following is the text of press release issued by
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Reaffirmation of rating incorporates established market position of
Board size depicts strong corporate governance levels while formation of risk management committee during 2018 has been noted positively. On internal controls front, holding period needs to be extended in employee trading guidelines and blackout period may also be mentioned. Furthermore, CEO statement in annual accounts would add to external control environment. Frequency of reviewing internal IT manuals and policies may also be enhanced. Given limited proprietary investments, exposure to market risk is considered on lower side which is in line with best international practices.
Assessment of financial profile indicates improvement in bottom-line profitability during HFY20. Going forward, sustainability of the same will be observed overtime. Low leveraged capital structure of the company provides further support to financial profile.
For more information, contact:Director Compliance and Rating Analytics,VIS Credit Rating Company LimitedVIS House, 128/C, 25th Lane off Khayaban-e-Ittehad,Phase VII, DHA,
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