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SAMATALETH

All Eps Dividend Board Agm Q1 Q2 Q3

SAMATALETH 04-Mar-2021

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 March 07, 2021 at 4:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2020.

SAMATALETH 23-Dec-2020

(Continuation news of SAMATALETH):13. Provision for lifetime expected credit loss on debtors has not been made as required by para 5.5.15 of IFRS 9. 14. Para 31 and 34 of IAS 16 for sufficient regularity and frequency of revaluation respectively has not been complied. (end)

SAMATALETH 23-Dec-2020

(Continuation news of SAMATALETH): (note # 9b) by crediting liability. 12. Disclosures regarding the calculation of Net Asset Value (NAV) per share and Net Operating Cash Flow (NOCF) per share as required by BSEC notification no. BSEC/CMRRCD/2006-158/208/admin/81 dated 20 June 2018 has not been provided in notes to the financial statements. (cont.8)

SAMATALETH 23-Dec-2020

(Continuation news of SAMATALETH): accordance with para 81(C) of IAS 12. 10. It is apparent from the statement of comprehensive income that the company made export sale during the year. But effects of changes in foreign exchange rates has not been made in the financial statements in accordance with para 28 of IAS 21. 11. Without paying instalment against land amounting to Tk.1,818,000 the amount has been recognised as advance instalment against land(cont.7)

SAMATALETH 23-Dec-2020

(Continuation news of SAMATALETH): 08. Proportionate Transfer of Workers Profit Participation Fund (provision of 2019) to Workers Welfare Foundation Fund established under section of 14 of Bangladesh Workers Welfare Foundation Act, 2006, has not been made in accordance with section 234 of Labor Act 2006 (amended in 2015). 09. Calculation of current tax amounting to Tk. 660,193 (note # 25) has not been properly calculated and disclosed in (cont.6)

SAMATALETH 23-Dec-2020

(Continuation news of SAMATALETH): tax for the first time in the financial statements but retrospective adjustment as required by para 22 of lAS 8 has not been done. Furthermore, third statement financial position as required by para 40A of lAS 1 has not been presented. 07. Statement of cash flows has not been properly calculated in accordance with lAS 7 as such Net Operating Cash Flow per share (NOCFPS) as disclosed in the statement has been overstated. (cont.5)

SAMATALETH 23-Dec-2020

(Continuation news of SAMATALETH): on the difference between depreciation based on the revalued carrying amount of the asset and depreciation based on the asset's original cost has not been made in accordance with para 41 of IAS 16. 06. Deferred tax liability as disclosed in note # 14 amounting to Tk. 3,921,279 has not been properly calculated in accordance with para 15 of IAS 12 "Income Taxes". Moreover, the company has recognised the deferred(cont.4)

SAMATALETH 23-Dec-2020

(Continuation news of SAMATALETH): 04. Charges of depreciation on addition of fixed assets has not been properly calculated in accordance with para 55 of IAS 16. Moreover, depreciation on revalued assets has been adjusted with revaluation reserve rather charging in profit or loss account. In doing so, depreciation has been understated by Tk.1,252,704 and profit & EPS has been overstated to the extent. 05. Annual transfer of revaluation reserve to retained earnings (cont.3)

SAMATALETH 23-Dec-2020

(Continuation news of SAMATALETH): chemicals and stock & Spares of Tk. 40,036,456, Tk 2,777,525, and Tk. 2,520,100 respectively against which we were not provided with supporting documents. 03.Inventory comprises closing stock of raw materials, Work in progress, finished goods and others amounting to Tk. 12,775,184 against which we did not find any itemized list with unit price. As such, the balance remained unverified. (cont.2)

SAMATALETH 23-Dec-2020

The auditor of the Samata Leather Complex Ltd has given the "Adverse Opinion" paragraphs in the Auditor's Report for the year ended on 30 June 2020. Adverse Opinion: Basis for Adverse Opinion: 01. Sales, as disclosed in note # 19, amounting to Tk. 75,558,009 out of which Tk. 23,739,291 is not supported by evidence. Moreover, the total sale is also not supported by VAT return (Mushak 9.1). 02.Cost of goods sold includes purchase raw materials, (cont.1)

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