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OIMEX

All Eps Dividend Board Agm Q1 Q2 Q3

OIMEX 18-Nov-2021

Trading of the shares of the Company will resume on 21.11.2021 after record date.

OIMEX 17-Nov-2021

Trading of the shares of the Company will remain suspended on record date i.e., 18.11.2021.

OIMEX 15-Nov-2021

(Continuation news of OIMEX): 6. WPPF: The Company paid a total amount of Tk. 699,213/= against the WPPF during the year under audit in cash among the employees. (end)

OIMEX 15-Nov-2021

(Continuation news of OIMEX): last year it was Tk. 206,326,532/= and this year's also it is Tk. 201,469,922/= on 30.06.2021, whereas total consumption was Tk. 86,599,308/= during the year 2020-2021. This is not desirable, hence our opinion no such purchase should be there, rather consumption should be from existing stock first. If sells increase substantially, then purchase of raw materials may be made as per requirement. (cont.7)

OIMEX 15-Nov-2021

(Continuation news of OIMEX): There are 66 Nos. of balances on the debtors list of which Tk. 26,926,054/= was provided for doubtful of realization during the year 2019-2020 and during the year 2020-2021, Tk. 3,033,574/= have been provided for doubtful debts. Balance confirmation letters were sent to individual parties. 5. Inventories: The Company maintained a volume of Raw materials in its stock, (cont.6)

OIMEX 15-Nov-2021

(Continuation news of OIMEX): 3. Property, Plant & Equipment: During the year a total amount of Tk. 50,780,212 was expensed on account of procurement of Plant & Machinery against which no certification for successful installation was furnished to confirm the addition. 4. Trade & Other Receivables: The Company sold its products in the local market, during past few years' major sales were on credit. (cont.5)

OIMEX 15-Nov-2021

(Continuation news of OIMEX): The Management are in doubt whether the said Furness could be completed by 30.06.2022. Building & Construction was started during the year 2018-19 and during this 3 years' period the following cost have been incurred, still the said construction not yet be completed. Year 2018-19 Tk. 25,460,451, Year 2019-20 Tk. 7,558,311; Year 2020-21 Tk. 11,085,136; Total Tk. 44,103,898. (cont.4)

OIMEX 15-Nov-2021

(Continuation news of OIMEX): b) Building & Constructions: As per last A/C, Building & Constructions is Tk. 7,558,311; Current year addition Tk. 3,526,825; Total Work in Progress Tk. 11,085,136; Plant & Machinery includes construction of Furness for boiling iron/ coil rod which was started during the year 2019-2020, with a budgeted cost of Tk. 40,000,000/= and the said Furness is expected to complete by 2021-2022. (cont.3)

OIMEX 15-Nov-2021

(Continuation news of OIMEX): Due to lack of such update records, existence, completeness and accuracy of the said fixed assets were not identifiable. 2. Capital Work in Progress: The above include the following: Assets: a) Plant & Machinery: As per last A/C, Plant and Machinery is Tk. 11,141,600; Current year addition Tk. 22,403,079; Total Work in Progress Tk. 33,544,679; (cont.2)

OIMEX 15-Nov-2021

The auditor of the Oimex Electrode Limited has given the "Emphasis of matters" paragraphs in the Auditor's Report for the year ended on 30 June, 2021. Emphasis of matters: Without qualifying our opinion, we would draw the attention on the following: 1. The company did not maintain fixed assets register properly with details containing information such as identification number of assets held, date of acquisition, cost of purchase, category of assets, accumulated depreciation, etc. (cont.1)

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