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APEXWEAV

All Eps Dividend Board Agm Q1 Q2 Q3

APEXWEAV 17-Nov-2021

(Continuation news of APEXWEAV): we have considered the adequacy of the disclosure in the financial statements in light of which we would like to draw the attention of the users of these financial statements on the below matters- a) The Company exported and imported their product through their related party named Home Textile Ltd. as per agreement dated 15 November, 2012 between the two companies. (cont.11)

APEXWEAV 17-Nov-2021

(Continuation news of APEXWEAV): Separate bank account was not maintained by the company and there is a shortfall in cash to pay off the unpaid amount. The amount of unclaimed dividend of Tk. 23,944,774 is not segregated year wise and with details claimants BO A/C as per BSEC directive no. BSEC/CMRRCD/2021-386/03 dated 14 January 2021. Emphasis of Matter: In forming our opinion, other than the above matters described in the basis of qualified opinion paragraph, (cont.10)

APEXWEAV 17-Nov-2021

(Continuation news of APEXWEAV): and 30 June 2019-2020 respectively. (Excluding gas bills) 10. No proper documents/evidence is provided to us by the management for Bank Interest Payable (note 14.00). Note no. 14: Bank Interest Payable BDT 87,812,914 and BDT 87,812,914 as on 30 June 2020-2021 and 30 June 2019-2020 respectively. 11. The Company has shown an amount of Tk. 23,944,774 as Unclaimed Dividend (note14.00). (cont.9)

APEXWEAV 17-Nov-2021

(Continuation news of APEXWEAV): 8. No proper documents/evidence is provided to us by the management for L/C Liabilities (note 12.00) Note No. 12: L/C Liabilities BDT 35,838,749 and BDT 24,477,630 as on 30 June 2020-2021 and 30 June 2019- 2020 respectively. 9. No proper documents/evidence is provided to us by the management for Sundry Creditors (other than Gas Bill) (note 13.00). Note No. 13: Sundry Creditors BDT 41,251,141 and BDT 33,356,850 as on 30 June 2020-2021 (cont.8)

APEXWEAV 17-Nov-2021

(Continuation news of APEXWEAV): Deposit and Prepayments (note 6.00). Note No. 6: Advance, Deposit and Prepayments BDT 32,140,318 and BDT 27,969,680 as on 30 June 2020-2021 and 30 June 2019-2020 respectively. 7. No proper documents/evidence is provided to us by the management for Trade Creditors (note 1 1.00). Note No. 11: Trade Creditors BDT 195,829,722 and BDT 198,429,556 as on 30 June 2020-2021 and 30 June 2019-2020 respectively. (cont.7)

APEXWEAV 17-Nov-2021

(Continuation news of APEXWEAV): Note No. 4: Sundry Debtors BDT 154,530,538 and BDT 162,495,573 as on 30 June 2020-2021 and 30 June 2019-2020 respectively. 5. No proper documents/evidence is provided to us by the management for Bills Receivable (note 5.00). Note No. 5: Bills Receivable BDT 57,028,823 and BDT 41,043,550 as on 30 June 2020-2021 and 30 June 2019-2020 respectively. 6.No proper documents/evidence is provided to us by the management for Advance, (cont.6)

APEXWEAV 17-Nov-2021

(Continuation news of APEXWEAV): The property plant and equipment of the company were carried at cost and no information related to any revaluation of the assets has been provided till the date of reporting so it is not understandable whether the Property, Plant and Equipment is presented at the fair value. Proper documents were not provided for asset addition. 4. No proper documents/evidence is provided to us by the management for Sundry Debtors (note 4.00) (cont.5)

APEXWEAV 17-Nov-2021

(Continuation news of APEXWEAV): The company has not reviewed any assets that could be impaired at the end of the year. Reporting assets without any impairment review shall overstate/understate the fixed assets value as of reporting date. Without proper documents/ information/evidence, the physical existence and the rights and obligations could not be assessed or confirmed with the reported figure. (cont.4)

APEXWEAV 17-Nov-2021

(Continuation news of APEXWEAV): It is also to be noted that no proper explanation or evidence could be provided by the management against the Advance Income Tax of amounting Tk. 15,849,738 is note no. 06.01 of the financial statements. 3. The carrying amount of property, plant and equipment (PPE) stands at Tk. 778,196,864. We were not provided with asset register/any document or information regarding the type of assets nature or the current condition of the assets. (cont.3)

APEXWEAV 17-Nov-2021

(Continuation news of APEXWEAV): non-availability of banking facilities for working capital, indicates the existence of a material uncertainty that cast a significant doubt on the company's ability to continue as going concern. The company's loans have been rescheduled on 30 December, 2019 and first payment was due on 31 March 2021 but no payment was made till reporting date. 2. Adequate disclosures for Advance Income Tax have not been given. (cont.2)

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