AFC Agro Biotech Limited announcements
258 Dhaka Stock Exchange announcements for AFC Agro Biotech Limited (AFCAGRO) since 2014: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2020 (30).
- Trading of the shares of the Company will resume on 17.12.2020 after record date.
Trading of the shares of the Company will resume on 17.12.2020 after record date.
- Trading of the shares of the Company will remain suspended on record date i.e., 15.12.2020.
Trading of the shares of the Company will remain suspended on record date i.e., 15.12.2020.
- Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled
Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled as per Spot settlement cycle from 13.12.2020 to 14.12.2020. Trading of the shares of the Company will remain suspended on record date i.e., 15.12.2020.
- (Q1 Un-audited): EPS was Tk. 0.07 for July-September 2020 as against Tk. 0.50 for July-September 2019; NOCFPS was Tk. 0.
(Q1 Un-audited): EPS was Tk. 0.07 for July-September 2020 as against Tk. 0.50 for July-September 2019; NOCFPS was Tk. 0.57 for July-September 2020 as against Tk. 1.60 for July-September 2019. NAV per share was Tk. 17.92 as on September 30, 2020 and Tk. 17.85 as on June 30, 2020.
- The auditor of the AFC Agro Biotech Ltd has given the "Qualified Opinion" & "Emphasis of Matter" paragraphs in the Audit
The auditor of the AFC Agro Biotech Ltd has given the "Qualified Opinion" & "Emphasis of Matter" paragraphs in the Auditor's Report for the year ended on 30 June 2020. Qualified Opinion: 1.Provision for current income tax and deferred tax required as per Para 12 & 15 of IAS 12 has not been made except for other income, as disclosed in note # 14 & 16, based on gazette No- 26.00.0000.100.42.008.17-54 dated 14-05-2018 by Commerce Ministry under the (cont.01)
- (Continuation news of AFCAGRO): captioned "National Active Pharmaceutical Ingredients (API) & Laboratory Reagents Produc
(Continuation news of AFCAGRO): captioned "National Active Pharmaceutical Ingredients (API) & Laboratory Reagents Production and Export Policy" regarding tax exemption against which SRO from National Board of Revenue (NBR) was not obtained. Therefore, profit, EPS & related Equity has been overstated to that extent. No proper disclosure has been made in accordance with Para 46 & Para 81(c) of IAS-12. Further the company also did not comply with (cont.02)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): applicable VAT & Tax related provision/section of ITO ordinance 1984 and VAT & SD Act-20
(Continuation news of AFCAGRO): applicable VAT & Tax related provision/section of ITO ordinance 1984 and VAT & SD Act-2012 including compliance of IAS-12 by virtue of above gazette notification of commerce ministry. 2.According to Para-9 of IAS-36, An Entity shall assess at the end of each reporting period whether there is any indication that an asset may be impaired. If any such indication exists, the entity shall estimate the recoverable amount(cont.03)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): of the asset. But the company did not provide any information regarding the assessment o
(Continuation news of AFCAGRO): of the asset. But the company did not provide any information regarding the assessment of any indication of impairment. 3. As per the Section 242 (Utilization of participation fund) of the Bangladesh Labour Act-2006 (Amendment-2013), "Of the total amount deposited/transferred in the participation fund every year, two-thirds shall be distributed in equal proportion to all beneficiaries in cash and one-third shall be invested(cont.04)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): in accordance with the provisions to all beneficiaries". As per Note# 17.01, of notes to
(Continuation news of AFCAGRO): in accordance with the provisions to all beneficiaries". As per Note# 17.01, of notes to the financial statements that the company has kept provision for Workers' Profit Participation amounting Tk. 1,829,052 and Tk. 17,018,098 for the year ended on 30 June 2020 and 2019 respectively. But the company has not distributed any amount of WPPF to its beneficiaries with in the stipulated time period, which is non-compliance with the(cont.05)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): Section 242 of the Bangladesh Labour Act- 2006 (as amended up to 2013). 4. As per DCT's
(Continuation news of AFCAGRO): Section 242 of the Bangladesh Labour Act- 2006 (as amended up to 2013). 4. As per DCT's notice order dated: 04.03.2020 total tax liability comes to Tk. 205,497,337. But no provision has been made in the financial statements therefore profit and EPS has been overstated to that extent. 5. The Company has made significant related party transactions without complying BSEC Notification (cont.06)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): No. SEC/CMRRCD/2006-159/Admin/02-10 dated September 10, 2006. & SEC/CMRRCD/2008-183/Admi
(Continuation news of AFCAGRO): No. SEC/CMRRCD/2006-159/Admin/02-10 dated September 10, 2006. & SEC/CMRRCD/2008-183/Admin/03-30 dated June 1, 2009. Emphasis of Matter: Without further qualifying our opinion, we draw attention to the following issues: a) Significant deviation in Earning per Share (EPS): EPS for the year ended on 30 June 2020 is Tk. 0.32 whereas it was Tk. 2.93(cont.07)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): for the same period of the previous year registering 89.08% decrease in current year as
(Continuation news of AFCAGRO): for the same period of the previous year registering 89.08% decrease in current year as compared to the previous year. This was mainly significant fall in the business income due to COVID-19 impact on business in last quarter. b)No expected credit loss has been recognized following IFRS-15. (end)
The first part of this announcement is missing from the archive. - As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting
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 December 08, 2020 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2020.
- The Board of Directors has recommended no dividend for the year ended on June 30, 2020. Date of AGM: 31.12.2020, Time: 1
The Board of Directors has recommended no dividend for the year ended on June 30, 2020. Date of AGM: 31.12.2020, Time: 10:00 AM, Venue: Digital Platform. Record Date: 15.12.2020. The Company has reported EPS of Tk. 0.32, NAV per share of Tk. 17.85 and NOCFPS of Tk. 2.28 for the year ended on June 30, 2020 as against Tk. 2.93 (Restated), Tk. 19.29 and Tk. 4.10 respectively for the same period of the previous year.
- There will be no price limit on the trading of the shares of the Company today (25.11.2020) following its corporate decl
There will be no price limit on the trading of the shares of the Company today (25.11.2020) following its corporate declaration, however, as per the BSEC Order No. BSEC/CMRRCD/2001-07/04 dated March 19, 2020, the floor price shall be applicable accordingly.
- As per Regulation 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting
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 November 24, 2020 at 3:30 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2020.
- National Credit Ratings Limited (NCR) has announced the surveillance entity rating of the Company as "A" in the long ter
National Credit Ratings Limited (NCR) has announced the surveillance entity rating of the Company as "A" in the long term and "ST-3" in the short term along with a developing outlook based on audited financial statements of June 30, 2019.
- (Q3 Un-audited): EPS was Tk. 0.20 for January-March 2020 as against Tk. 0.94 for January-March 2019; EPS was Tk. 1.01 fo
(Q3 Un-audited): EPS was Tk. 0.20 for January-March 2020 as against Tk. 0.94 for January-March 2019; EPS was Tk. 1.01 for July 2019-March 2020 as against Tk. 2.23 for July 2018-March 2019. NOCFPS was Tk. 2.20 for July 2019-March 2020 as against Tk. 4.04 for July 2018-March 2019. NAV per share was Tk. 18.54 as on March 31, 2020 and Tk. 19.29 as on June 30, 2019. The Company also informed that reasons for changes in NOCFPS and EPS for following reasons (cont.)
- (Continuation news of AFCAGRO): The Company has a decline in sales and Increase in Finance charge therefore there is a d
(Continuation news of AFCAGRO): The Company has a decline in sales and Increase in Finance charge therefore there is a decrease on net profit after tax for this quarter. As the Company has faced decline sales in this quarter, the collection has fallen down and increase payment to suppliers. So the NOCFPS has been decreased. As Company has a decline in net profit after tax this quarter and has declared stock dividend in recent AGM which has increased the total number of share. So the EPS has decreased.(end)
The first part of this announcement is missing from the archive. - Referring to their earlier news disseminated on 02.12.2019, the Company has further informed that BSEC has accorded cons
Referring to their earlier news disseminated on 02.12.2019, the Company has further informed that BSEC has accorded consent under the provision of the Securities and Exchange Commission (Private Placement of Debt Securities) Rules, 2012 for issuance of Non-Convertible Zero Coupon Bond amounting to Tk. 100.00 crore only. The consent has been accorded subject to the condition (cont.)
- (Continuation news of AFCAGRO): that the Company shall comply with the relevant laws and Regulatory Requirements, and al
(Continuation news of AFCAGRO): that the Company shall comply with the relevant laws and Regulatory Requirements, and also shall adhere to the conditions imposed by BSEC under Section 2CC of the Securities and Exchange Ordinance, 1969. (end)
The first part of this announcement is missing from the archive. - (Q2 Un-audited): EPS was Tk. 0.31 for October-December 2019 as against Tk. 0.70 for October-December 2018; EPS was Tk. 0
(Q2 Un-audited): EPS was Tk. 0.31 for October-December 2019 as against Tk. 0.70 for October-December 2018; EPS was Tk. 0.81 for July-December 2019 as against Tk. 1.37 for July-December 2018. NOCFPS was Tk. 2.13 for July-December 2019 as against Tk. 2.33 for July-December 2018. NAV per share was Tk. 18.35 as on December 31, 2019 and Tk. 19.29 as on June 30, 2019.
- The Company has informed that it has credited the Bonus shares for the year ended on June 30, 2019 to the respective sha
The Company has informed that it has credited the Bonus shares for the year ended on June 30, 2019 to the respective shareholders' BO Accounts.
- As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting
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 30, 2020 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2019.
- Qualified Opinion: 1. Provision for current income tax and deferred tax required as per para 12 & 15 of IAS 12 has not b
Qualified Opinion: 1. Provision for current income tax and deferred tax required as per para 12 & 15 of IAS 12 has not been made except for other income, as disclosed in note no. 16, based on gazette No- 26.00.0000.100.42.008.17-54 dated 14-05-2018 by Commerce Ministry under the caption "National Active Pharmaceutical Ingredients (API) & Laboratory Reagents Production and Export Policy" regarding tax exemption (cont.1)
- (Continuation news of AFCAFGRO): against which SRO from National Board of Revenue (NBR) is yet to be obtained. Note 16.0
(Continuation news of AFCAFGRO): against which SRO from National Board of Revenue (NBR) is yet to be obtained. Note 16.00: Balance of Provision for Current Tax as on 30.06.19 was Tk. 25,317,087 and as on 30.06.18 was Tk. 22,353,171. Provision for tax holiday reserve has not been made except for other income based on gazette No-26.00.0000.100.42.008.17-54 dated 14-05-2018 by Commerce Ministry (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAFGRO): under the caption "National Active Pharmaceutical Ingredients (API) & Laboratory Reagen
(Continuation news of AFCAFGRO): under the caption "National Active Pharmaceutical Ingredients (API) & Laboratory Reagents Production and Export Policy" regarding tax exemption to be effected from financial year 2016-17 to 2031-32 and the meeting minute in Ministry of Commerce no: 26.00.0000.10042.008.17-177. (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAFGRO): Emphasis Matter: We draw users' attention to the note no 17.01 to the financial stateme
(Continuation news of AFCAFGRO): Emphasis Matter: We draw users' attention to the note no 17.01 to the financial statements regarding utilization of Workers Profit Participation Fund (WPPF). Our opinion is not modified in respect of the matters. Note 17.01: Balance of Workers Profit Participation Fund(WPPF) as on 30.06.19 was Tk. 45,249,596 and as on 30.06.18 was Tk. 32,681,498. (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAFGRO): This represents 5% of net profit before tax after charging the contribution as per prov
(Continuation news of AFCAFGRO): This represents 5% of net profit before tax after charging the contribution as per provisions of the Companies Profit (Workers' Participation) Act,1968 and is payable to workers as defined in the said Act. The company has separate Trustee for WPPF. During the year AFCABL has been transferred fund to separate WPPF Bank Accounts partially and remaining balance keep as liability as on 30th June 2019 (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAFGRO): which will be transfer earlier. 10% of the fund to be transferred to Bangladesh Workers
(Continuation news of AFCAFGRO): which will be transfer earlier. 10% of the fund to be transferred to Bangladesh Workers Welfare Foundation as per section 234 of the Bangladesh Labor Act, 2006 (amended in 2013) will be made as soon as possible. (end)
The first part of this announcement is missing from the archive.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.