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ECABLES

All Eps Dividend Board Agm Q1 Q2 Q3

ECABLES 16-Jan-2017

(Continuation news of ECABLES): Also, no amount was invested as per section 49 and subsection of section 58 of BS of BAS-19. 8. It appears from Notes 06, 07, 08, and 09 of the financial statements that the disclosure requirement (Ageing Schedule i.e., analysis of the age of financial asset) for Debtors and Advance, Deposits & Prepayments (cont.7)

ECABLES 16-Jan-2017

(Continuation news of ECABLES): Since the amount was not provided in the financial statements profit has been overstated to the same extent.(Note-6.01, 7.00 & 8.00).7. As disclosed in note-18 of notes to the financial statements, ECL operates a gratuity scheme. But no unfunded actuarial valuation has been done as per BAS-19 and hence it is not possible to confirm whether the year-end provision agree with or approximates to, the provision that would have been required by actuarial valuation. (cont.6)

ECABLES 16-Jan-2017

(Continuation news of ECABLES): 6. An amount of Tk. 30,583,985 receivable from various parties shown at management report point 4.01 has been carried forward since long period under the head 'Debtors', 'Current Account-with projects under BSEC Disinvested by Government' and 'Current Accounts with Project under BSEC'. It is very unlikely that these amounts will be recovered. (cont.5)

ECABLES 16-Jan-2017

(Continuation news of ECABLES): The repetition of revaluation reserve with same amount from year after year is impracticable for the effect of IAS-1 or IAS-8 whichever is applicable. 5. As disclosed in note -4 of notes to the financial statements a sum of Tk. 413,599,349 has been shown under the head inventories of stock & stores which includes of obsolete /damage stock as per physical verification. No valuation for damage/obsolete stock has been charged into comprehensive income statement. (cont.4)

ECABLES 16-Jan-2017

(Continuation news of ECABLES): 3. An amount of Tk. 21,321,239 payable to various parties has been carried forward since long under the head "Other Financial Liabilities & Provision". No balance confirmation Certificate was made available to us. As such we could not confirm the said amount (Note-24). 4.The company revalued its assets in the year 1987 and the revaluation reserve has been carrying forward since then to the extent of Tk. 18,043,822 without transferring the same into Retained Earnings.(cont.3)

ECABLES 16-Jan-2017

(Continuation news of ECABLES): Balance amount of the Tk. 213,507,020 is not provided in the financial statements resulting overstatement of profit during the year to that extent. 2.An amount of Tk. 116,899,892 is shown under the head Present Liability (Local), Pre-Liberation, Liabilities, and Liabilities against Sundry Outstanding Expense.The management could not provide us Party-wise Schedule/Subsidiary Ledger to whom the amount to be payable. Hence, we could not verify the said amount (Note-23).(cont.2)

ECABLES 16-Jan-2017

The auditor of the company has given the following "Qualified Opinion" in the audit report of the company for the year ended on 30 June 2016: Basis for Qualified Opinion: 1. A sum of Tk. 35,638,827 as on 30.06.2016 has been accounted for on account of leave pay and gratuity. The company ascertained the actual liability of Tk. 430,588,273 to meet the obligation for the employees, if retired on this day. Out of which, Tk. 217,081,253 has been provided till the year under report. (cont. 1)

ECABLES 16-Jan-2017

As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting of the Board of Directors will be held on January 21, 2017 at 10:00 AM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2016.

ECABLES 06-Dec-2016

Trading of the shares of the Company will resume on 07.12.2016 after record date.

ECABLES 05-Dec-2016

Trading of the shares of the Company will remain suspended on record date i.e., 06.12.2016.

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