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JUTESPINN

All Eps Dividend Board Agm Q1 Q2 Q3

JUTESPINN 18-May-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 May 22, 2021 at 11:00 AM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2021.

JUTESPINN 31-Jan-2021

(Q2 Un-audited): EPS was Tk. (11.16) for October-December 2020 as against Tk. (11.01) for October-December 2019; EPS was Tk. (22.32) for July-December 2020 as against Tk. (21.25) for July-December 2019. NOCFPS was Tk. (0.13) for July- December 2020 as against Tk. (0.72) for July- December 2019. NAV per share was Tk. (371.30) as on December 31, 2020 and Tk. (324.81) as on December 31, 2019.

JUTESPINN 26-Jan-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 January 30, 2021 at 11:00 AM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2020.

JUTESPINN 22-Nov-2020

(Continuation news of JUTESPINN): Term Loan P.C. A /c T k. 40,252,040 has been shown by the company but in the Artha Rin Suit No. 125/2018, bank claimed an amount Tk. 41,999,839. The Company has made sufficient provision against bank demand. 2. The West Zone Power Distribution Company Ltd. has filed a suit against the company Suit No: w`Mm-318 an amount of Tk. 1,590,111. The company has paid an amount Tk. 294,555 against this claim. The Company has made sufficient provision against suit amount. (end)

JUTESPINN 22-Nov-2020

(Continuation news of JUTESPINN): provision should have been made in the financial statements. Since no provision was accounted for doubtful amount, the profit has been overstated. 13. Unadjusted Current liabilities since long: An amount of Tk. 605,615,017 has been shown as several balances of Liability in the financial statements. The figure has been carrying forward for a long period without making any adjustment. Emphasis of Matter: 1. In note no. 14.00 Short (cont.24)

JUTESPINN 22-Nov-2020

(Continuation news of JUTESPINN): tax assets though the company has not any taxable profit which is non-compliance with paragraph 24 of IAS 12: "Income Tax ". 12. Unadjusted Current Assets since long: An amount of Tk. 261,854,736 has been shown under several heads of assets in the Financial Statements. The figure has been carrying forward for a long period without making any addition or adjustments. This amount seems doubtful in nature for which (cont.23)

JUTESPINN 22-Nov-2020

(Continuation news of JUTESPINN): difference to the extent that it is probable that taxable profit will be available against which the deductible temporary difference can be utilized, unless the deferred tax asset arises from the initial recognition of an asset or liability in a transaction that: (a) is not a business combination; and (b) at the time of the transaction, affects neither accounting profit nor taxable profit (tax loss)". But the company has recognized deferred (cont.22)

JUTESPINN 22-Nov-2020

(Continuation news of JUTESPINN): Short Term Loan P.C. A/c Tk. 40,252,040 was not confirmed because the company did not provide us bank statements. In addition, the company charged bank Interest of around 13% amount Tk. 5,493,434 against this loan year to year. 11.Income taxes (IAS-12): Deferred Tax: Wrong recognition of deferred tax: As per paragraph 24 of IAS 12: "Income Tax" - "A deferred tax asset shall be recognized for all deductible temporary (cont.21)

JUTESPINN 22-Nov-2020

(Continuation news of JUTESPINN): Clause 5(A) (iii) & (iv) of schedule-I under Rule 12(2) of the Securities and Exchange Rules, 1987 and the provision of Part-I, Schedule Xl, Section 185 of Companies Act. 9.Cash & Cash Equivalents: In note no. 9.00 Cash & Cash Equivalents, the E.R.Q Account Tk. 136,874 was not confirmed by us because the company did not provide us bank statements. 10. Short Term Loan: In note no. 14:00 of notes to the financial statements, (cont.20)

JUTESPINN 22-Nov-2020

(Continuation news of JUTESPINN): portion of money has not been realized by the company. Resulting, these current assets might be subject to credit toss for which the company did not make any provisions. ii. It appears from Note # 7.00, and 8.00 of the financial statements that the disclosure requirement (Ageing Schedule i.e., analysis of the age of financial assets) for Debtors and Advances, Deposits & Prepayments have not been made in line with Para 37(a) of IFRS 7; (cont.19)

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