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TITASGAS

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TITASGAS 19-Oct-2021

(Continuation news of TITASGAS): PDB for Tk. 134.60 crore up to the year 2020-21. Further, the Company accounted for another income of Higher Heating Value (HHV) from its Private Power customers amounting to Tk. 39.52 crore up to the year 2020-2021. The Company has been recognizing these income and receivables since the year 2002. Out of the said aggregated amount of more than Tk. 230.01 crore, there is no realization till date. On a query we came to know that (cont.6)

TITASGAS 19-Oct-2021

(Continuation news of TITASGAS): C) Due to delay in payment of bills by the bulk customers (Power- PDB) the Company calculates and charges penal interest on the bill amounts of the respective customers. As such a total amount of Tk. 55.89 crore has been recognized as interest income up to 30 June 2021 and included in Trade Receivables shown in Note #11. On the other hand, the Company accounted for meter rent and demand charges on its customer namely, (cont.5)

TITASGAS 19-Oct-2021

(Continuation news of TITASGAS): of valuation. Option: 2- Tk. 300.00 crore immediately and paying Tk. 14.80 crore per month to repair the maintaining deficit in 5 years from the date of valuation. Option:3- Tk. 400.00 crore immediately and paying Tk. 12.70 crore per month to repair the maintaining deficit in 5 years from the date of valuation. In Our opinion 50% of required provision Tk. 500 crore may be transferred from retained earnings to the fund. (cont.4)

TITASGAS 19-Oct-2021

(Continuation news of TITASGAS): as per actuarial valuation done by M/s. AIR CONSULTING. As on the said date the Company's assets for the pension fund was only Tk. 92.00 crore resulting in a shortfall of provision of Tk. 1,000.60 crore for the said fund. The actuary firm, M/S. AIR CONSULTING recommended to make an annual provision of; Option:1- Tk. 200.00 crore immediately and paying Tk. 16.92 crore per month to repair the maintaining deficit in 5 years from the date (cont.3)

TITASGAS 19-Oct-2021

(Continuation news of TITASGAS): could not confirm such balances with the records of zone offices as the zone offices' general ledgers were not updated. Further, any list, address or any other particulars of the parties could not be made available to us. As a result, we could not ensure by accuracy of the balances from the records of the zone offices. b) Required provision for pension fund of the eligible employees of the Company as on 30 June 2020 was Tk. 1,092.60 crore (cont.2)

TITASGAS 19-Oct-2021

The auditor of the Titas Gas Transmission & Dist. Co. Ltd. has given the "Qualified Opinion" paragraphs in the Auditor's Report for the year ended on 30 June 2021. Qualified Opinion: a) Long-term liabilities as disclosed in Note # 24 to the financial statements include customers' security deposit of Tk. 2,280.98 crore as on 30 June 2021. The Head Office of the Company maintains control ledgers with the information received from zone offices. But during our audit at zone offices we (cont.1)

TITASGAS 19-Oct-2021

The Company has further informed that the AGM of the Company will be held on November 25, 2021. Other information will remain unchanged.

TITASGAS 19-Oct-2021

There will be no price limit on the trading of the shares of the Company today (19.10.2021) following its corporate declaration.

TITASGAS 19-Oct-2021

The Board of Directors has recommended 22% cash dividend for the year ended on June 30, 2021. Date of AGM: notified later. Time: 11:00 AM, Venue: Digital Platform. Record Date: 11.11.2021. The Company has also reported EPS of Tk. 3.50, NAV per share of Tk. 72.57 and NOCFPS of Tk. (1.11) for the year ended on June 30, 2021 as against Tk. 3.64, Tk. 71.39 and Tk. (4.48) respectively for the same period of the previous year.

TITASGAS 12-Oct-2021

As per Regulation 19(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 18, 2021 at 6:45 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2021.

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