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STANDARINS

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STANDARINS 20-Oct-2020

ARGUS Credit Rating Services Limited (ACRSL) has announced the claim paying ability rating of the Company as "AA-" for long term and "ST-2" for short term in consideration of financials of the Company up to December 31, 2019 (audited), Q2FY20 (unaudited) and other relevant quantitative as well as qualitative information up to the date of rating declaration.

STANDARINS 18-Oct-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 October 27, 2020 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on September 30, 2020.

STANDARINS 08-Oct-2020

The Company has informed that it has disbursed the cash dividend for the year ended on December 31, 2019 to the respective shareholders' Bank accounts through BFTN system.

STANDARINS 20-Aug-2020

Trading of the Shares of the Company will resume on 23.08.2020 after record date.

STANDARINS 19-Aug-2020

Trading of the shares of the Company will remain suspended on record date i.e., 20.08.2020.

STANDARINS 17-Aug-2020

(Continuation news of STANDARINS): of Management is amounting Tk. 152,683,867 and Tk. 130,512,803 for the year ended on 31 December 2019 and 31 December 2018 respectively. (end)

STANDARINS 17-Aug-2020

(Continuation news of STANDARINS): not transferred Lease Liabilities at Net Present Value from Office Rent Expense, interest expense on lease liabilities total cash outflow of the leases, the carrying amount of right-of-use assets at the end of the reporting period by class of underlying asset, which is a non-compliance of para-47 & 53 of IFRS-16. Note -22.00 Expenses of Management: Expenses (cont. 4)

STANDARINS 17-Aug-2020

(Continuation news of STANDARINS): in the current financial year leading to the understatement of Assets and Liabilities, understatement of expense, overstatement of profit and will lead the Office Rent expense into zero which will affect in the notes no. 22. In addition to above, the Company has not recognized the leases of Right-of-use assets and its depreciation. Finally, the Company has (cont. 3)

STANDARINS 17-Aug-2020

(Continuation news of STANDARINS): It introduces significant changes to lessee accounting by removing the distinction between operating and finance lease and requiring the recognition of a right -of -use asset and a lease liability at commencement for all leases, except for short- term leases and leases of low value assets. However, the management of the company opted not to adopt the new standard (cont. 2)

STANDARINS 17-Aug-2020

The auditor of Standard Insurance Limited has given the following "Emphasis of Matter" in the audit report of the company prepared for the year ended on December 31, 2019. Emphasis of Matter: Without qualifying our opinion, we draw attention to the following matter: Initial application of IFRS-16 Leases came into effect in 1st January 2019. IFRS 16 introduces new or amended requirements with respect to lease accounting. (cont. 1)

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