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NTLTUBES

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NTLTUBES 22-Jan-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 January 28, 2020 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2019.

NTLTUBES 21-Jan-2020

The Company has informed that it has credited the Bonus shares for the year ended on June 30, 2019 to the respective shareholders' BO Accounts on January 16, 2020.

NTLTUBES 27-Nov-2019

Trading of the Shares of the Company will resume on 28.11.2019 after record date.

NTLTUBES 26-Nov-2019

(Continuation news of NTLTUBES): As per permission of order clause 4(GA) required increased benefits to be paid by two installments within two financial years 2018-2019 and 2019-2020. As result, the company has created provision of 50% of incurred in the financial year 2018-2019. (end)

NTLTUBES 26-Nov-2019

(Continuation news of NTLTUBES): Festival Bonus on dearness allowance, Conveyance, washing allowance & store in transit. During the year, Employees and Staff benefits has been increased by order of Ministry of Labour and Employment vide letter no. 40.00.0000.016.31.016.18-57, dated October 22, 2018 and accordingly the company made provision against implement of new wages scale of employees and staff. (cont. 7)

NTLTUBES 26-Nov-2019

(Continuation news of NTLTUBES): as per the order of Ministry of Labor and Employment vide letter no. 40.00.0000.016.31.016.18-57. Dated October 22, 2018. Which should be presented as per IAS 1: (Presentation of Financial Statements) Note 16.01: Prior Year's Income/Expenses Adjustment Account: Tk. (17,825,999) as on 30 June 2019. This is made up as follows: Deduction for Excess Payment of incentive & Festival Bonus (FY 90-91) & increment to associated Muktijoddha, (cont. 6)

NTLTUBES 26-Nov-2019

(Continuation news of NTLTUBES): As a result, the Company is yet to recover or fully adjust this excess amount of income tax of Tk. 223,975,411 as paid till the reporting period from tax authority. Note 11: Advance Income Tax as on 30 June 2019 is Tk.283,111,233 and Tk. 266,597,278 as on 30 June 2018. b) In reference to Note no. 16.01 of the Financial Statement, the Company has made adjustment against enhancement of new wages scale with Retained Earnings (cont. 5)

NTLTUBES 26-Nov-2019

(Continuation news of NTLTUBES): Emphasis of Matter: Without qualifying our opinion, we draw attention on the matter as disclosed below: a) The Company has reported Tk. 283,111,233 as advance income tax as disclosed in Note # 11.00 to the financial statements. However, corresponding provision for income tax stood at Tk. 59,135,822 at the same date. (cont. 4)

NTLTUBES 26-Nov-2019

(Continuation news of NTLTUBES): neither intention nor need to liquidate or curtail materially the scale of its operation. The company has been incurring loss for consecutive three years including current year. Due to making loss continuity, its retained earnings balance is running out frequently. The management will take proper step to run the company as going concern (plan of continuation of business). (cont. 3)

NTLTUBES 26-Nov-2019

(Continuation news of NTLTUBES): These conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. Our opinion is not qualified in respect of this matter. Note. 3.06: Going Concern: The financial statements of the company have been prepared on the assumption that the entity is a going concern and will continue its business for the foreseeable future. Hence it is assumed that the entity has (cont. 2)

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