BullBD Old Apps Site
Home
Favorites
Recently viewed Details Chart Today news Share news Top gainer Top Looser Upcoming events
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0 1 2 3 4 5 6 7 8 9 All
Bank Cement Ceramics Sector Corporate Bond Engineering Financial Institutions Food & Allied Fuel & Power IT Sector Insurance Jute Life Insurance Miscellaneous Mutual Funds Paper & Printing Pharmaceuticals & Chemicals Services & Real Estate Tannery Industries Telecommunication Textile Travel & Leisure All
  • Details
  • Chart
  • News

JUTESPINN

All Eps Dividend Board Agm Q1 Q2 Q3

JUTESPINN 06-Dec-2018

Trading of the shares of the Company will resume on 09.12.2018 after record date.

JUTESPINN 05-Dec-2018

Trading of the shares of the Company will remain suspended on record date i.e., 06.12.2018.

JUTESPINN 04-Dec-2018

(Continuation news of JUTESPINN): 10. Major portion of transaction with directors have been made by cash. 11. In note no. 14:00 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. 4,630,766 against this loan. (end)

JUTESPINN 04-Dec-2018

(Continuation news of JUTESPINN): provision made in section 232 to 235 of the Bangladesh Labor Act, 2006 as amended 2013. 8. The company did not provide for Gratuity Fund (GF) and Provident Fund (PF) during the year. 9. Production of the company has been stopped for more than 2 years but the related expenses e.g. factory and administrative expenses has been provided in the accounts which only increased the loss of the company. (cont. 8)

JUTESPINN 04-Dec-2018

(Continuation news of JUTESPINN):no interest has been provided in the accounts resulting understatement of liability. 6. The carrying amount of property, plant, and equipment (PPE) comes to Tk. 29,789,964. We were not provided with any document regarding checking of physical existence as a part of internal control as of balance sheet date. 7. Constitution of management board and management of the fund regarding Workers Profit Participation Fund (WPPF) has not been maintained in accordance with the (cont.7)

JUTESPINN 04-Dec-2018

(Continuation news of JUTESPINN): (Raw Jute, Finished Goods, Work in Progress & Stores and Spares). 4. The company has taken loan Tk. 13,924,798 from the Managing Director. But no Board resolution or agreement was made between the Managing Director and the Company. Therefore, no interest was charged by the Company against the loan amount. 5. The company has taken loan from Mrs. Ayesha Kadir amounting to Tk. 3,500,000 which remained unpaid and (cont. 6)

JUTESPINN 04-Dec-2018

(Continuation news of JUTESPINN): reported in the financial statements as our appointment of statutory audit was post dated on 18 October 2018. So, consequently inventory might be overstated or understated so as to profit or asset of the organization. ii) The company has not disclosed write down policy of inventories in the notes to the financial statements since the factory was closed down from 2016, either the quality of the inventories is obsolete or unusable condition (cont. 5)

JUTESPINN 04-Dec-2018

(Continuation news of JUTESPINN): 3. Inventory: i) The company's inventories value are carried forward from previous year in the statement of financial position as at 30 June 2018. The Company's policy note no. 3.5 valuation of inventories indicates that management stated the inventories at lower of cost and net realizable value. And company has not disclosed any fair market value except cost of inventory Tk. 243,791,989. We were unable to determine the value and quantity of inventories to be (cont. 4)

JUTESPINN 04-Dec-2018

(Continuation news of JUTESPINN): 2. Revolution of Property, Plant and Equipment: The revolution of Property Plant and Equipment of Jute Spinners Limited were affected in 1990 and subsequently no other revolution has been commensurated till the date of reporting. As directed by IAS -16, Para -31, revaluation shall be made with subsequent regularity i.e. 3 to 5 years that carrying amount does not differ materiality from the fair value at the end of the reporting period. (cont. 3)

JUTESPINN 04-Dec-2018

(Continuation news of JUTESPINN): stood Tk. 468,483,731 which exceeded its total assets Tk. 300,486,767 by Tk. 167,996,964. We also draw attention to the labor difficulties, inability to pay creditors on due dates, inefficiency of key management and negative operating cash flows indicated by financial statements of the Company. These events or conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. (cont. 2)

Previous Next page