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BDSERVICE

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BDSERVICE 01-Dec-2020

Trading of the shares of the Company will resume on 02.12.2020 after record date.

BDSERVICE 30-Nov-2020

Trading of the shares of the Company will remain suspended on record date i.e., 01.12.2020.

BDSERVICE 25-Nov-2020

Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled as per Spot settlement cycle from 26.11.2020 to 30.11.2020. Trading of the shares of the Company will remain suspended on record date i.e., 01.12.2020.

BDSERVICE 22-Nov-2020

(Continuation news of BDSERVICE): Failure to obtain recognition from the National Board of Revenue will result in any gratuity payment being treated as taxable income in the hands of the employee. Our opinion is not modified with respect to matters as stated above. (end)

BDSERVICE 22-Nov-2020

(Continuation news of BDSERVICE): basis of period of employment and latest basic pay to cover obligation under the scheme in respect of the employees who meet eligibility requirements. This Fund has to be separately funded and approved by the National Board of Revenue under the First Schedule, Part C of the Income Tax Ordinance 1984 (ITO) to get tax exemption under para 20, Part A of the Sixth Schedule. (cont.6)

BDSERVICE 22-Nov-2020

(Continuation news of BDSERVICE): fund which has been distributed between the members must be collected by the Company within 31 December 2020 as per condition 4 of the said notification. Failure to comply with the conditions of this notification will be an offence under section 48 of the Financial Reporting Act, 2015. III. The Company operates a gratuity scheme which is a defined benefit plan, covering all its eligible permanent employees. Provision is made on the. (cont.5)

BDSERVICE 22-Nov-2020

(Continuation news of BDSERVICE): II.As per Financial Reporting Council's Notification no. 179/FRC/FRM/Notification/2020/2 dated 07 July 2020 the amount of forfeiture account of Bangladesh Services Limited Employees' Provident Fund for the current year (the Fund) has to be refunded to Bangladesh Services Limited (the Company) within the timeline as stated in the said notification. Additionally, from year 2015, if there is any amount of forfeited (cont.4)

BDSERVICE 22-Nov-2020

(Continuation news of BDSERVICE): Emphasis of Matter: I.We draw attention to note 32 to the financial statements where management explains the circumstances of various contingencies and additional claims of value added tax (VAT) and supplementary duty from Large Taxpayers Unit (VAT) and additional tax demand from income tax assessing authority, the uncertainties of getting judgment in favour of the Company and management's position on the same. (cont.3)

BDSERVICE 22-Nov-2020

(Continuation news of BDSERVICE): the Company's current liabilities exceeded its current assets by BDT 1,435,289,377 as at 30 June 2020 (2019: BDT 1,063,490,563). As stated in note 1.8, these events or conditions, along with other matters as set forth in note 1.8 indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as going concern. Our opinion is not modified in respect of this matter. (cont.2)

BDSERVICE 22-Nov-2020

The auditor of the Bangladesh Services Ltd has given the "Material Uncertainty Related to Going Concern" & "Emphasis of Matter" paragraph in the Auditor's Report for the year ended on 30 June 2020. Material Uncertainty Related to Going Concern: We draw attention to note 1.8 to the financial statements which indicates that the Company incurred a net loss of BDT 462,945,195 for the year ended 30 June 2020 (2019: BDT 364,393,077). Moreover, (cont.1)

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