Market Status: Closed Fri 24 May 13, 4:48 AM (BST)
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CSE NEWS Today's Trade: Today's (22 May 2013) Total Trades: 18,017; Volume: 12,644,887 and Turnover: Tk. 405.73 million.
Un-audited Financial Statements of EASTLAND: As per un-audited financial statements of Eastland Insurance Co. Ltd. for the period from Jan'13 to March'13 (Quarter 1), NPAT=Tk.40.35m & EPS=Tk.0.82 as against corresponding period of previous year figures of 47.21m & 0.96 in Tk. respectively. (news received by CSE on 21 May 2013)
Holiday Notice CSE NEWS: All concerned are hereby informed that the CSE offices will remain closed on Thursday, the 23rd May 2013 on the occasion of ''Buddha Purnima'' of Buddist community. Therefore, there will be no trade tomorrow 23 May 2013.
Sell Confirmation of PRIMEFIN: Mr. Md. Aliuzzaman, Sponsor of Prime Finance & Investment Ltd., has further reported that he has sold 75,000 shares of the Company at prevailing market price through Stock Exchange as announced earlier.
Transfer Confirmation of GENNEXT: Mr. Mohd. Akhter, Director of Generation Next Fashions Ltd., has further reported that he has transferred 28,34,949 shares of the Company to his wife Mrs. Shahnaz Begum by way of gift outside the trading system of the Exchange as announced earlier.
Transfer Confirmation of GENNEXT: Mr. Javed Opgenhaffen, Director of Generation Next Fashions Ltd., has further reported that he has transferred 22,34,421 shares of the Company to his wife Mrs. Tasnuva Mahmud by way of gift outside the trading system of the Exchange as announced earlier.
Sell Intention of MERCANBANK: Mr. A.S.M. Feroz Alam, Sponsor/Director of Mercantile Bank Ltd., has reported his intention to sell 4,00,824 shares out of his holding of 2,90,11,824 shares of the Bank at prevailing market price through Stock Exchange within next 30 working days.
CSE NEWS SPOT TRADE: Please find SPOT Trade is continuing today on the trading of the shares of ORIONPHARMA, SONARGAON & BDTHAI.
continue-Auditors' Opinion of AZIZPIPES(cont-7):outstanding loans which is still against the above banks for correction of accounts as well as compensation for the lapses of the Banks in providing funds timely unsettled. The Company also filled cases against the above banks for correction of accounts as well as compensation for lapses of the Banks in providing funds timely. Since filling of the cases against the Company, the Banks neither charged any interest nor sent any demand from note/statement of interest for the period from 01-01-2012 to 31-12-2012 to the Company. In view of the above, interest has not been shown in the Company's accounts for the said period. (end)
continue-Auditors' Opinion of AZIZPIPES(cont-6): Corporate Branch. As per understanding given by the bank this segregated amount will not attract any interest and as such has been treated accordingly by the Company. Note -15 states that Cash Credit: TK. 359,535,025: Cash credits are availed from the following Banks and are secured against hypothecation of Fixed & Floating assets i.e. on Raw materials, Work-in-process stores & spares and also personal guarantee of all Directors of the Company. Uttara Bank Ltd. amounting to Tk. 174,264,454, National Bank Ltd. amounting to Tk. 69,819,803 Dutch Bangla Bank Ltd. amounting to Tk. 115,450,768 total amounting to Tk. 359,535,025. All the above Banks have filled cases against the Company for realization of their outstandin (cont)
continue-Auditors' Opinion of AZIZPIPES(cont-5): a) Aziz Pipes Ltd. will repay Tk. 13,20,00,000 (thirteen crore twenty lac) for final settlement of the liability by 10(ten) years. b) Tk. 1.00 crore paid as down payment in two installments (80 lac & 20 lac). c) Freezing of further charging of interest till full adjustment of the liability which also to be treated as waived subject full adjustment of Tk. 13,20,00,000/-. d) Rest of Tk.12.20 Crore will pay in 120 installment within 10 years. e) During the year under Audit Tk. 90.00 lac paid as yearly installment. Note -14 states that Short Term Loan: TK. 57,200,000: This amount represents conversion of short term loan (cash credit hypothecation / pledge) into segregated and blocked term loan A/C by Uttara Bank Ltd., (cont)
continue-Auditors' Opinion of AZIZPIPES(cont-4): Both the Company and Uttara Bank Ltd., Dutch Bangla Bank Ltd. and National Bank Ltd. have gone into litigation to mitigate their respective grievances and such no interest has been charged during the year against those loans. However, the Company management should take pragmatic actions to negotiate the mater as early as possible. Note-13 states that Term Loan: Tk. 84,052,750: This amount represents conversation of overdraft loan in Block Term Loan A/C by Southeast Bank Ltd. principal Branch. As per re-scheduling given by Bank this Term Loan amount will not attract any interest. As per re-scheduling arrangement vide their letter no. HO/CAD/822/2007/ dated 30th December 2007. The terms and condition is given below:(cont)
continue-Auditors' Opinion of AZIZPIPES(cont-3): (3). Deferred Taxation: The company recognized no Deferred Taxation with paragraph-47 of BAS -12. (4). Deferred Revenue Expenditure & Pre-Production Expenses: During the year the Company has been amortized Tk. 500,000 and Tk. 1,000,000 against Deferred Revenue Expenditure & Pre-Production Expenses respectively. We feel that entire rest of the amount should be written off immediately. (5). Loan Fund: The Company has continuously been defaulting in payment of installment against short-term loan and cash credit from Uttara bank Ltd., Dutch Bangla Bank Ltd. and National Bank Ltd., which included in Note-13,14 & 15. The Company is under process of negotiation for restructuring with the Financial Institutions. (cont-3)
continue-Auditors' Opinion of AZIZPIPES(cont-2): Further, it is mentioned that as of 31 December, 2012 the cumulative balance of retained earning stands on negative balance amounting to Tk. 435,360,454 and indebted to the extent of Tk. 629,094,385 consisting of loan fund and current liabilities. All these facts indicate significant uncertainty as to the Company's liability to repay the liabilities. (2). Cost of Goods Sold (COGS): The Cost of Goods Sold represents 90.86% of the total turnover, which is the higher side and it was also 92.26% in the last year. In our opinion for steady profit of the Company the cost of goods sold ratio to turnover should be reduced as much as possible and also sales price of the product should be re-fixed. (cont-2)
Auditors' Opinion of AZIZPIPES: The Auditor of Aziz Pipes Ltd. ''Kazi Zahir Khan & Co.'', has given the following opinion in the audit report of the company for the year ended on 31 December 2012: (1). Utilization of Production Capacity and ability of the Company to pay Debt: The production capacity utilization position of the Company is very poor. Total Utilization capacity of the Company is only 28.44% which was 32.81% at previous year. The management of the Company opined that the shortfall was made due to reduce demand emanated from general economic downturn & shortage of working capital. In our opinion, production capacity must be utilized at the optimum level to strengthen the financial position of the Company. (cont-1)
Auditors' Qualified Opinion of NTC: The Auditor of National Tea Co. Ltd. ''Syful Shamsul Alam & Co. and A. Wahab & Co.'', has given the following opinion in the audit report of the company for the year ended on 31 December 2012: (I) The company has lost physical possession on land area of 6.8 acres in Lackatoorah Tea Estate. In this connection 5 civil suits are pending in various Courts to restore the physical possession and other related matters; and (II) Ownership of Patiya Tea Estate has not yet been transferred to NTC and legal suit is pending for ownership of Khetland of Parkul Tea Estate.
Transfer Confirmation of AMBEEPHA: Mrs. Khatija Mohammad Bhai, Sponsor of Ambee Pharmaceuticals Ltd., has further reported that she has transferred her entire holding of 12,500 shares of the Company to her mother Mrs. Nurjehan Hudda by way of gift outside the trading system of the Exchange as announced earlier.
Transfer Confirmation of AMBEEPHA: Mrs. Sakina Miraly, Director of Ambee Pharmaceuticals Ltd., has further reported that she has transferred 10,000 shares of the Company to her sister Mrs. Nurjehan Hudda by way of gift outside the trading system of the Exchange as announced earlier.
Sell Confirmation of PRIMEFIN: Mawsons Limited, Corporate Sponsor of Prime Finance & Investment Ltd., has further reported that it has sold 1,00,000 shares of the Company at prevailing market price through Stock Exchange as announced earlier.
Sell Intention of UNIONCAP: Mr. Muhammad Faizur Rahman, Director of Union Capital Ltd., has reported his intention to sell 2,00,000 shares out of his holding of 54,24,643 shares of the Company at prevailing market price through Stock Exchange within next 30 working days.
Sell Intention of PRIMEFIN: Mawsons Limited, Corporate Sponsor of Prime Finance & Investment Ltd., has reported its intention to sell 1,00,000 shares out of its holding of 75,54,752 shares of the Company at prevailing market price through Stock Exchange within next 30 working days.
Board Meeting of BEACHHATCH: Beach Hatchery Ltd. has informed that the Board Meeting of the Company will be held on 22 May 2013 at 5.30 pm for consideration of Annual accounts for the year ended 31 December 2012 and appropriation for the same period.
Board Meeting of NATLIFEINS: National Life Insurance Co. Ltd. has informed that the Board Meeting of the Company will be held on 28 May 2013 at 3:30 pm to consider, among others, audited financial statements of the Company for the year ended on 31 December 2012.
Paid up shares Increased of SONARBAINS: Paid up shares of Sonar Bangla Insurance Ltd. have been increased by 2,683,296 Bonus shares (i.e. 12% Bonus of 22,360,800 shares) as the scrip has been allowed to trade as ex-benefits with effect from 22 May 2013. Now the total paid up shares of the Co. is 25,044,096.
Ex-benefit Price Adjustments of SONARBAINS: Please note that the price of the shares of SONARBAINS is adjusted today following its ex-benefits date to the extent of its corporate benefits, hence the price limit on the scrip will remain as it is today. Therefore, adjusted price of SONARBAINS=Tk.28.80.
Record Date of SIBL: Trading of the shares of Social Islami Bank Ltd. is suspended on its Record date today 22 May 2013. The scrip will be revoked on 26 May 2013.
Record Date of REPUBLIC: Trading of the shares of Republic Insurance Co. Ltd. is suspended on its Record date today 22 May 2013. The scrip will be revoked on 26 May 2013.
Change of Close Price of POPULARLIF: Please note that the close price of the shares of POPULARLIF has been reset at current market price prevailing in other exchange. New close price of POPULARLIF=Tk.188.70.
Change of Close Price of BERGERPBL: Please note that the close price of the shares of BERGERPBL has been reset at current market price prevailing in other exchange. New close price of BERGERPBL=Tk.703.30.
CSE NEWS Message: All investors are requested to make their investment decision on the basis of financial strength of the companies not on the basis of rumor.
Investor Awareness BSEC's Message: 1) It is not wise to invest in the capital market without having proper information, detail knowledge and experience regarding different aspects and nitty-gritty of the capital market. 2) It is to be kept in mind that the profit or loss whatever you make from investment is belong to you only. Therefore prudent investment decision based on knowledge and fundamentals can be your real assistance. 3) Don't pay heed to rumors at the time of buying and selling of shares. Buying and selling of shares based on rumor can be harmful. Even spreading of rumor is legally prohibited. (BSEC vide its letter no. SEC/SRMIC/2010/726 dated 23 November 2010).
Continue- Important news BSEC(continue):In this situation, in the greater and long term interest of the growing capital market and investors, all related to Stock Exchange and market intermediaries i.e. stock broker/dealer, asset manager, merchant banker, issuer company including their officials are requested to abstain from giving opinion/comment on investment which may create enthusiasm or confusion among the investors. (end)
Important news BSEC: It is observed that in the context of the present condition of the capital market, many small and new investors are involved which is undoubtedly encouraging. But it is a matter of concern that a portion of these investors without having proper, timely and detail knowledge and reviewing/analyzing the information of the different aspects of the capital market are being attracted in investing on the basis of rumor, hearsay and different comments from different quarters, which may make their hard earned capital risky, as a result, it will not only hamper the confidence of these investors but may also create hindrance of the continuity and firm growth of the capital market.(continue)
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