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FAREASTFIN

All Eps Dividend Board Agm Q1 Q2 Q3

FAREASTFIN 23-Sep-2020

(Continuation news of FAREASTFIN): on the reports. According to available documents & CL statements Fareast Finance & Investment Limited shown Term Loan given to Fareast Stocks & Bonds Limited amount in Tk. 2,754,580,768 but according to Auditors opinion of Fareast Stocks & Bonds Limited they have found Tk. 2,522,206,023 in the books of accounts differences is Tk. 232,374,745. Which indicates that the recoverability of Term loan amount may (cont. 4)

FAREASTFIN 23-Sep-2020

(Continuation news of FAREASTFIN): In connection with our audit, we have performed audit procedures to evaluate management's assumptions as to the Company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. 3. The company has one associate company namely Fareast Stocks & Bonds Limited is audited by other auditor whose report has been furnished to us and our opinion is as so far as it relates to the amounts included based (cont. 3)

FAREASTFIN 23-Sep-2020

(Continuation news of FAREASTFIN): an extended time span for four years for maintaining the shortfall provision. 2. We draw attention to Note 2.40 in the financial statements, which indicates that the Company incurred a net loss of Tk. 717,997,592 during the year ended December 31, 2019 and, as of that date, the Company's current liabilities exceeded its total assets by Tk. 1,532,764,232 As stated in Note 2.40, these events or conditions, along with other matters as set forth in Note 2.40. (cont. 2)

FAREASTFIN 23-Sep-2020

The auditor of Fareast Finance & Investment Limited has given the following Emphasis of Matter in the audit report of the Company prepared for the year ended on 31 December 2019. Emphasis of Matter: 1. We draw attention to note - 8.9.1 of the financial statements which describes the shortfall of required provision against classified loans, advances and leases, other assets and balance with other banks and financial institutions Tk. 756,534,714. The Bangladesh Bank has given (cont. 1)

FAREASTFIN 20-Sep-2020

BSEC News: BSEC has fined BDT 10.00 lakh to Mr. M. A. Khaleque, (Director & Chairman) and BDT 5.00 lakh to Mr. Rubaiyat Khaleque, (Director) for non-compliance of securities laws.

FAREASTFIN 16-Sep-2020

(Q2 Un-audited): EPS was Tk. (0.38) for April-June 2020 as against Tk. (0.52) for April-June 2019; EPS was Tk. (1.11) for January-June 2020 as against Tk. (3.45) for January-June 2019. NOCFPS was Tk. (0.67) for January-June 2020 as against Tk. (1.03) for January-June 2019. NAV per share was Tk. 1.74 as on June 30, 2020 and Tk. 2.85 as on December 31, 2019.

FAREASTFIN 16-Sep-2020

(Q1 Un-audited): EPS was Tk. (0.73) for January-March 2020 as against Tk. (2.93) for January-March 2019. NOCFPS was Tk. (0.60) for January-March, 2020 as against Tk. (0.51) for January-March, 2019. NAV per share was Tk. 2.11 as on March 31, 2020 and Tk. 2.85 as on December 31, 2019.

FAREASTFIN 16-Sep-2020

There will be no price limit on the trading of the shares of the Company today (16.09.2020) following its corporate declaration, however, as per the BSEC Order No. BSEC/CMRRCD/2001-07/04 dated March 19, 2020, the floor price shall be applicable accordingly.

FAREASTFIN 16-Sep-2020

The Board of Directors has recommended No dividend for the year ended on December 31, 2019. Date of AGM: 29.10.2020, Time: 10:00 AM, Venue: digital platform. Record Date: 07.10.2020. The Company has also reported EPS of Tk. (4.38), NAV per share of Tk. 2.85 and NOCFPS of Tk. (1.19) for the year ended on December 31, 2019 as against Tk. 0.81, Tk. 7.22 and Tk. 3.47 respectively for the same period of the previous year.

FAREASTFIN 07-Sep-2020

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 September 15, 2020 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on March 31, 2020 and Second Quarter (Q2) period ended on June 30, 2020.

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