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FASFIN

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FASFIN 10-Oct-2022

As per Regulation 19(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 October 17, 2022 at 3:30 PM to consider, among others, audited financial statements of the Company for the year ended December 31, 2021.

ঢাকা স্টক এক্সচেঞ্জ (লিস্টিং) রেগুলেশন, 2015 এর রেগুলেশন 19(1) অনুসারে, কোম্পানি জানিয়েছে যে 17 অক্টোবর, 2022 তারিখে বিকাল 3:30 টায় পরিচালনা পর্ষদের একটি সভা অনুষ্ঠিত হবে, অন্যদের মধ্যে বিবেচনা করার জন্য, 31 ডিসেম্বর, 2021 সমাপ্ত বছরের জন্য কোম্পানির নিরীক্ষিত আর্থিক বিবৃতি।

FASFIN 01-Dec-2021

(Cont. news of FASFIN): Consolidated NAV per share was Tk. (20.59) as on September 30, 2021 and Tk. (13.40) as on December 31, 2020. NAV have been decreased as compare to the last year mainly due to increase of non-performing loan (end)

(ফাসফিনের অব্যাহত খবর): শেয়ার প্রতি একত্রিত NAV ছিল টাকা. (20.59) সেপ্টেম্বর 30, 2021 এবং টাকা (13.40) 31 ডিসেম্বর, 2020 পর্যন্ত। গত বছরের তুলনায় NAV হ্রাস পেয়েছে প্রধানত অ-পারফর্মিং লোন বৃদ্ধির কারণে (শেষ)

FASFIN 01-Dec-2021

(Q3 Un-audited): Consolidated EPS was Tk. (2.45) for July-September 2021 as against Tk. (2.66) for July-September 2020; Consolidated EPS was Tk. (7.20) for January-September 2021 as against Tk. (8.54) for January-September 2020. Consolidated NOCFPS was Tk. 1.45 for January-September 2021 as against Tk. (0.02) for January-September 2020. (Cont.)

FASFIN 24-Nov-2021

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 November 30, 2021 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on September 30, 2021.

FASFIN 14-Nov-2021

(Continuation news of FASFIN): which is a common local practice in Bangladesh for all banks and merchant bank. Although IFRS 9: Financial Instrument requires the investment to be presented at market value after adjusting provision for diminution losses. (end)

FASFIN 14-Nov-2021

(Continuation news of FASFIN): 5. During our audit we were not able to check and confirm the Statement of cash flows, which is limitation of our audit work. Emphasis of Matter Paragraph: We draw your attention to the policy note no. 1(f) where it has been disclosed by company that they record their investment in shares at cost and provision is made for the diminishing in value of investment (cont.17)

FASFIN 14-Nov-2021

(Continuation news of FASFIN): However, such eligible securities were revalued of TK. 4.73 core (in last year it was valued at TK. 19 crore at the time loan guaranty). This is the sign of over valuation of eligible securities of other loan and advances also. So, the company shall carry out re-evaluation all the eligible securities taken against the loan & advance and required loan loss provision. (cont.16)

FASFIN 14-Nov-2021

(Continuation news of FASFIN): BSEC prescribe fund, no such transaction is taken place. 3. Bangladesh Bank (letter # DFIM @/1054/10/2020 dated November 12, 2020) has made an order to the company for accruing interest income only on realization basis some of loan, advance and lease investment. 4. During the year under review, loan of TK. 17 crore has partially been received of TK. 3 crore selling eligible securities. (cont.15)

FASFIN 14-Nov-2021

(Continuation news of FASFIN): about it's (company's) going concern assumptions. Emphasis of Matter: 1. According to IAS 24 (Related Party Disclosures) company should disclose all the related party transaction in the related party disclosure. However, the company has not disclosed all the related party transaction. 2. According to BSEC directive dated January 14, 2021 if any dividend remains unpaid or unclaimed for a period of three years then this fund should be transferred to the (cont.14)

FASFIN 14-Nov-2021

(Continuation news of FASFIN): The corresponding error may be in borrowing from other bank & financial institution and provision for expenses in statement of cash flows. 11. The accompanying financial statements have been prepared under going concern basis assuming that the company will continue its existence for foreseeable future. However, significant impairment of margin loan, recurring huge loss, negative equity balance and poor current ratio 0.49 expose concern (cont.13)

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