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KPPL

All Eps Dividend Board Agm Q1 Q2 Q3

KPPL 26-Nov-2019

(Continuation news of KPPL): as compared with the last year. In addition, operating cash flows were also deteriorated in line with the increase in net loss as occurred during the year. The Company has adequately disclosed the issues and continued to use going concern basis of accounting in the preparation of the financial statements as referred in Note # 18.07 to the financial statements. Note 35.00 Cost of Goods Sold/Factory Expenses: Balance of Cost of Goods Sold/Factory Expenses was (cont. 9)

KPPL 26-Nov-2019

(Continuation news of KPPL): Emphasis of Matter: We draw attention on the following matters in respect of which our opinion is not qualified: a) As disclosed in Notes # 35.00, 57.00, 60.00 to the financial statements, which describes that due to non-operation for several years the wastage of raw materials has caused significant deterioration in the Company's financial performance during the year as evidenced by the increase in its net loss by Tk. 82,257,562 to Tk. 171,194,706 (cont. 8)

KPPL 26-Nov-2019

(Continuation news of KPPL): as management believes, the recoverability of these long outstanding balances is still doubtful against which provision for doubtful debt should have been recognized in the financial statements Note 22.00 Trade Receivables: Balance of Trade Receivables was Taka 282,072,221 as on 30.06.2019 and Taka 271,671,882 as on 30.06.2018. (cont. 7)

KPPL 26-Nov-2019

(Continuation news of KPPL): The Company stated that the amount of trade receivables is considered good and will be fully realizable within the next 12 months. The age of some portion of these trade debtors falls below six months and the rest over six months. No provision has been made for doubtful or bad debts. Though some portion of these may be realizable after such long gap (cont. 6)

KPPL 26-Nov-2019

(Continuation news of KPPL): due to long gap which would result in write-off of its recorded amount to realizable value. Note 21.00 Goods in Transit: Balance of Goods in Transit was Taka 146,409,839 as on 30.06.2019 and Taka 138,747,608 as on 30.06.2018. Realization of the value is uncertain after such long gap. C) As disclosed in Note # 22.00 in the financial statements, trade receivables of Tk. 282,072,221 were reported as on 30 June 2019. (cont. 5)

KPPL 26-Nov-2019

(Continuation news of KPPL): Net realizable value is based on estimated selling price less any further costs expected to be incurred for completion and disposal. B) As referred in Note # 21.00 to the financial statements, the Company reported goods in transit of Tk. 146,409,839. The management has certified that these goods were imported through various L/C. The realization of the value of these goods in transit is subject to uncertainty (cont. 4)

KPPL 26-Nov-2019

(Continuation news of KPPL): It was valued at cost being lower of net realization value. Though the quality of the stocks is not certified by any competent authority as it is remained unsued for long period. Note 7.00 Inventories: Inventories comprise raw materials and finished goods. They are stated at the lower of cost and net realizable value on consistent basis in accordance with IAS 2 as adopted by ICAB as IAS 2 ?Inventories". (cont. 3)

KPPL 26-Nov-2019

(Continuation news of KPPL): Inventory records were not properly updated and valuation was also not performed to determine net realizable value. Inventory quantities held at the reporting date contain obsolete and damaged items for which no write-off or obsolescence allowances was recognized by the Company. Note 20.00 Inventories: Balance of Inventories was Taka 516,081,100 as on 30.06.2019 and Taka 354,400,000 as on 30.06.2018. Physical inventory was taken as on 30.06.2019. (cont. 2)

KPPL 26-Nov-2019

Qualified Opinion: a) As disclosed in Note # 20 and 7 to the financial statements, Inventories were carried at Tk. 516,081,100 in the statement of financial position as on 30 June 2019. Physical inventory count was taken as on 30 June 2019 by the management. The Company stated that inventory was valued at the lower of cost and net realization value. Though the quality of the stocks is not certified any competent authority as it remained unused for long period. (cont. 1)

KPPL 25-Nov-2019

Trading of the Shares of the Company will resume on 26.11.2019 after record date.

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