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FIRSTFIN

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FIRSTFIN 15-Apr-2021

Trading of the shares of the Company will resume on 15.04.2021 after record date.

FIRSTFIN 12-Apr-2021

Trading of the shares of the company will remain suspended on record date i.e. 13.04.2021.

FIRSTFIN 07-Apr-2021

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 with cum benefit from 08.04.2021 to 12.04.2021. Trading of the shares of the Company will remain suspended on record date i.e., 13.04.2021.

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): is BDT 9,411,824,010. As per Bangladesh Bank Letter no. DFIM(C)1054/42/2019-1272 dated June 23, 2019, we got the permission to adjust shortfall in Loan Loss Provision in 5 years starting from 2020. In this connection, the CAR Calculation as per BASELII and as per Accounts varies i.e. CAR as per BASEL II 6.20 and CAR as per Accounts 11.37. (end)

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): we have already communicated with the Organisation. People's Leasing and Financial Services Limited is not liquidated yet. And the company is running its limited operation under new management and they have taken positive steps to repay the TRD's with them gradually. We hope that the TRD will be adjusted gradually in the next year. Note 15.06.01-Total Risk Weighted Assets: Balance of Total Risk Weighted Assets as on 31 December 2019(cont.11)

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): and as on 31 December 2018 is respectively BDT 305,359,863 and BDT 1,276,916,714. Balance of Grand Total of Current accounts with, Short-term deposit accounts with and Fixed deposit accounts with as on 31 December 2019 and as on 31 December 2018 is respectively BDT 327,901,120 and BDT 1,328,493,469. Regarding TRD of Tk. 10.00 Crore with People's Leasing and Financial Services Limited, it may be stated that, (cont.10)

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): regarding the improvement of cash in flow. Note 4.01- Inside Bangladesh: Balance of Current accounts with as on 31 December 2019 and as on 31 December 2018 is respectively BDT 2,801,683 and BDT 11,833,967. Balance of Short-term deposit accounts with as on 31 December 2019 and as on 31 December 2018 is respectively BDT 19,739,575 and BDT 39,742788. Balance of Fixed deposit accounts with as on 31 December 2019(cont.9)

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. About Net Negative Cash Flow, it can be stated that the negative cash flow position is improving in 2019 in comparison to 2018. In 2019 the Net Operating Negative Cash flow was Tk. (91,034,555) and in 2018 it was Tk. (400,738,138). We have an approved 5 years strategic plan where we have a plan for next 5 year(cont.8)

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): FFL has created a deferred interest expenses asset in the balanced sheet which is being amortized since then. The total interest expense yet to be amortized is BDT 82,994,924 of which BDT 80,800,000 has expensed in 2019 and BDT 2,194,924 will be amortized in 2020. Emphasis of Matter: We draw attention to the fact disclosed in note- 2.02.01, 4.01, & 15.06.01. Note 2.02.01- Going Concern: The financial statements have been prepared (cont.7)

FIRSTFIN 28-Mar-2021

(Continuation news of FIRSTFIN): 8. We draw your attention to Note 10.03 of the financial statements which describe the impact an under-accrual of interest expense on term deposit. The company had under-accrual interest expense worth BDT 24.15 crore as at December 31, 2016. The company has obtained permission from Bangladesh bank through letter No. DFIM(C) 1058/42/2017 to adjust this difference over three (3) years starting from June 2017. As detailed in note 10.03, (cont.6)

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