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POWERGRID

All Eps Dividend Board Agm Q1 Q2 Q3

POWERGRID 18-Feb-2018

(Continuation news of POWERGRID): 3. As disclosed in Note # 8, the Company has reported an amount of BDT 2,708,645,728 as receivable from transmission/wheeling and optical fiber charges. It includes receivable from DPDC and DESCO, M/S Abul Khair Steel Products and BWDB GK Project, Bheramara, Kushtia amounting to BDT 615,833,849, 279,084,538, 6,433,733 and 1,560,621 respectively. The above stated amounts are carried forward from FY 2005 and increasing (Cont. 5)

POWERGRID 18-Feb-2018

(Continuation news of POWERGRID): We have visited 20 Grid Maintenance Division (GMD) offices involving the inventories value amounting to BDT 900,510,759 resulting unrecorded inventories of Tk. 93,162,943, which indicates incomplete reporting in the financial statements. We also found that inventory register was not maintained properly. As a result, we are unable to confirm the physical existence of the items of inventories and thereby its value as on 30 June 2017. (Cont. 4)

POWERGRID 18-Feb-2018

(Continuation news of POWERGRID): the period under audit, as we are unable to confirm the authenticity of the physical existence of PPE as of 30 June 2017. This item represents 71.74% of total assets which remained unverified as to its quantity. Moreover, the Company has never performed impairment test of its PPE which is also a non-compliance with the BAS 36 Paragraph 9. 2. As disclosed in Note # 7, the Company has reported an amount of BDT 807,347,816 as inventories. (Cont. 3)

POWERGRID 18-Feb-2018

(Continuation news of POWERGRID): rate of depreciation, year of acquisition, identification number etc. Some items of PPE have been transferred from Bangladesh Power Development Board (BPDB) and Dhaka Power Distribution Company (DPDC) to Power Grid Company of Bangladesh Limited (PGCB) without conducting physical verification and valuation thereon. It is also noted that, no physical verification of PPE was conducted either at the year-end or any time during (Cont. 2)

POWERGRID 18-Feb-2018

Qualified Opinion: The auditor of the company has given the following "Qualified Opinion" Paragraph in the audit report of the company for the year ended on 30 June 2017: Basis for Qualified Opinion: 1. As disclosed in Note # 4, the carrying amount of property, plant and equipment (PPE) was reported at BDT 113,398,236,005. No register has been found by us for PPE, which in need to be implemented by PGCB incorporating detailed information like, original cost, accumulated depreciation; (Cont. 1)

POWERGRID 04-Feb-2018

The Company has informed that it has disbursed the Cash dividend for the year ended on June 30, 2017 to the respective shareholders' Bank Accounts through BEFTN System.

POWERGRID 29-Jan-2018

(Q2 Un-audited): EPS was Tk. 0.95 for October-December, 2017 as against Tk. 0.71 for October-December, 2016; EPS was Tk. 2.64 for July-December, 2017 as against Tk. 1.73 for July-December, 2016. NOCFPS was Tk. 8.59 for July-December, 2017 as against Tk. 7.42 for July-December, 2016. NAV per share was Tk. 99.43 as on December 31, 2017 and Tk. 82.47 as on June 30, 2017.

POWERGRID 22-Jan-2018

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, 2018 at 6:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2017.

POWERGRID 16-Nov-2017

Trading of the shares of the Company will resume on 19.11.2017 after record date.

POWERGRID 15-Nov-2017

Trading of the shares of the Company will remain suspended on record date i.e., 16.11.2017.

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