The Pakistan Credit Rating Agency Limited
05-Aug-22
Analyst
Shayan Farooq
shayan.farooq@pacra.com
+92-42-35869504
www.pacra.com
Applicable Criteria
- Methodology | Corporate Rating | Jun-22
- Methodology | Correlation Between Long-term & Short-term Rating Scales | Jun-22
- Methodology | Rating Modifiers | Jun-22
Related Research
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PACRA Withdraws Entity Ratings of Hi-Tech Edible Oils (Pvt.) Limited
| Rating Type | Entity | |
|
Current (05-Aug-22 ) |
Previous (09-Feb-22 ) |
|
| Action | Withdraw | Maintain |
| Long Term | - | BBB |
| Short Term | - | A2 |
| Outlook | Stable | |
| Rating Watch | - | - |
Subsequent to the management's decision to discontinue the entity ratings of Hi-Tech Edible Oils (Pvt.) Limited.
PACRA withdraws the entity ratings with immediate effect.
About
the Entity
Hi-Tech Edible Oils (Pvt.) Limited, is a venture of Hi-Tech Group, well-known player in Pakistan’s poultry industry. Hi-Tech Edible oil was incorporated in 2002 and commenced operations in 2006 as Private Limited Company. The Company is primarily engaged in seed filtering and crushing, selling edible oil and meal. At present, the Company has a crushing capacity of 365,000 MT per year and is utilized ~85%.
The overall control of group companies vests with four founding members with equal shareholding. All members are having executive roles in group companies. Dr. Anwar Mehmood Randhawa is the Chairman of all group companies. and possess experience of 45 years in Poultry and integrated businesses. Dr. Muhammad Arshad is the CEO of the Group and also Director on the Board. Both, Chairman and CEO, are Doctor of Veterinary Medicine. He is assisted by a team of professionals.