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

NTC

All Eps Dividend Board Agm Q1 Q2 Q3

NTC 08-Nov-2020

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 11, 2020 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2020.

NTC 28-Oct-2020

(Continuation news of NTC): Furthermore, the Company transferred only Taka 20,100,598 to the recognized gratuity fund during the year considering the financial performance. So far the accumulated balance at the funded gratuity fund stands at Taka 16,397,818 on the close of business as at 30 June 2020. (end)

NTC 28-Oct-2020

(Continuation news of NTC): drawn basic pay multiplied by number of service years as per the Company's policy. However, according to the Paragraph 67 of IAS 19: 'Employee benefits' "an entity shall use the projected unit credit method to determine the present value of its defined benefit obligations and the related current service cost and, where applicable, past service cost". The Company has not performed any actuarial valuation that is a noncompliance as per IAS 19. (cont.7)

NTC 28-Oct-2020

(Continuation news of NTC): under audit the Company could not make required profit and as such no provision for WPPF and WF has been made. Gratuity valuation: Without qualifying our report, we draw attention to the note 5H ii(a) to the accompanying financial statements where the Company has maintained and presented defined benefits plan (gratuity). During the year, the Company has shown gratuity amounting to Taka 253,598,661 which is calculated based on last (cont.6)

NTC 28-Oct-2020

(Continuation news of NTC): capital-work-in-progress which overstated the property, plant and equipment even further. Emphasis of Matter: Workers' Profit Participation Fund (WPPF) and Welfare Fund (WF) Without qualifying our report, we draw attention to the note 5H (i) to the accompanying financial statements that no provision has been made in previous years for Workers' Profit Participation Fund (WPPF) and Welfare Fund (WF). Incidentally, during the year (cont.5)

NTC 28-Oct-2020

(Continuation news of NTC): statements. The management of the Company could not quantify the impact of such under provision of depreciation. In the absence of bearer plants capitalization and deprecation policy neither we could calculate accumulated depreciation and depreciation charge for the year nor we could find any basis for the lump sum provision. Immature bearer plants for which no valuation is available either have also been capitalized as asset rather than (cont.4)

NTC 28-Oct-2020

(Continuation news of NTC): which is resulting in overstatement of property, plant and equipment, profit for the year and cumulative retained earnings. Although the Company has made a provision for the lump sum amount of Taka 27,060,250 for depreciation on bearer plants on straight line basis this year, neither the life of such assets are clearly defined and recorded nor any adjustments with retained earnings for prior year depreciations are reflected in the financial (cont.3)

NTC 28-Oct-2020

(Continuation news of NTC): a finite life and must be depreciated under IAS 16 Paragraph 6. However, the Company does not have any policy to value such asset either at cost or revaluation model as per IFRS requirement and depreciate accordingly over the asset's useful life. As a result, since the asset is gradually losing its finite life and ability to generate cash flow in the future, the financial statements are not reflecting the outcome of appropriate valuation and required depreciation (cont.2)

NTC 28-Oct-2020

The auditor of the National Tea Company Ltd has given the "Qualified Opinion" & "Emphasis of Matter" paragraphs in the Auditor's Report for the year ended on 30 June 2020. In this regard, we may disseminate the following news through our online trading system: Qualified Opinion: We refer to note 6.01 and 5A (iii), property, plant and equipment which include "bearer plants" presented under "Plantation" for the amount of Taka 1,869,983,676. Bearer plants have (cont.1)

NTC 28-Oct-2020

There will be no price limit on the trading of the shares of the Company today (28.10.2020) following its corporate declaration, however, as per the BSEC Order No. BSEC/CMRRCD/2001-07/04 dated March 19, 2020; the floor price shall be applicable accordingly.

Previous Next page