Karachi, February 23, 2018 (PPI-OT): JCR-VIS Credit Rating Company Ltd. (JCR-VIS) has assigned initial Broker Management Rating of ‘BMR2++’ to Next Capital Limited (NCL). Outlook on the assigned rating is ‘Stable’. The rating signifies strong regulatory compliance levels; sound external controls, HR and IT services, risk management and financial management along with adequate internal control framework and client relationship.
Assigned rating represents strong board level governance and regulatory compliance. Internal control framework may be strengthened with the improvement in policies review intervals and holding period and blackout period addressed in employee trading guidelines. An independent function of internal audit and compliance would upgrade the supervision of regulatory compliance.
Client relationship management while being adequate has room for improvement. The rating also factors the sound financial performance of the company deriving strength from operational efficiency. Increased activity in advisory desk also contributed positively to the bottom-line, performance of which would be tested over time.
For more information, contact:
CFA
JCR-VIS Credit Rating Company Limited
VIS House, 128/C,
25th Lane off Khayaban-e-Ittehad,
Phase VII, DHA, Karachi
Tel: +92-21-35311861-72
Fax: +92-21-35311873
Email: sobia@jcrvis.com.pk