Press ReleasePACRA Assigns Initial Broker Fiduciary Rating to AHM Securities (Pvt.) Limited
|Current (14-Jun-22 )
|The Company is owned by the members of same family. Majority stakes are owned by Mr. Adam Haji Muhammad.
|The board is comprised of three members all representing the shareholder family members. Room for improvement exist in the board structure.
|Management and Client Services
|The Company has a lean organisational structure. The management possess the relevant experience and educational profile.
|Internal Controls and Regulatory Compilance
|Presence of internal auditor is noted. Compliance function could be improved further. Independent risk management department is encouraged.
|Brokerage revenue has improved over the period; however, reliance on a single income stream exposes results in increased risk exposure.
|The Company has an adequate capitalization level with the Net Capital Balance standing at ~PKR 115mln at end-Dec'21.
|Key Rating Drivers
|About the Entity
|Year of Establishment
|Type of License
|Trading and Self-clearing
|Mr. Adam Haji Muhammad (~99%)
| Ayesha Qasim
Methodology | Broker Fiduciary Rating | Jan-22
Sector Study | Brokerage & Securities | Jan-22
|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. 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 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.