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 2022 (26).
- The auditor of the AFC Agro Biotech Ltd. has given the \"Qualified Opinion\" & \"Emphasis of Matters\" paragraph in the
The auditor of the AFC Agro Biotech Ltd. has given the \"Qualified Opinion\" & \"Emphasis of Matters\" paragraph in the Auditor\'s Report for the year ended June 30, 2022. Basis for Qualified Opinion: 1. Provision for current income tax and deferred tax required as per Para 12 & 15 of IAS 12 has not been made, as disclosed in note # 13 & 15, based on gazette No-26.00.0000.100.42.008.17-54 dated 14-05-2018 by Commerce Ministry under the captioned (cont.1)
- (Continuation news of AFCAGRO): \"National Active Pharmaceutical Ingredients (API) & Laboratory Reagents Production and
(Continuation news of AFCAGRO): \"National Active Pharmaceutical Ingredients (API) & Laboratory Reagents Production and Export Policy\" regarding tax exemption against which relevant S.R.O.NO 316 ACT/ Income Tax/2021 dated 11 October, 2021 from National Board of Revenue (NBR) has obtained by the company. But some conditions of said SRO yet to be complied with by the company. There fore profit, EPS & related Equity has overstated to (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): that extent. No proper disclosure has been made in accordance with Para 46 & Para 81(c)
(Continuation news of AFCAGRO): 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 applicable VAT & tax related provisions/sections of ITO ordinance 1984 and VAT & SD Act-2012 including compliance of IAS-12 and other related IASs by virtue of above gazette notification of commerce ministry and SRO from NBR. Also a sum of Tk. 247,546,877 has been shown as (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): Tax Holiday reserve has been carried forward year after year though no SRO or certificat
(Continuation news of AFCAGRO): Tax Holiday reserve has been carried forward year after year though no SRO or certificate was availed by the company from NBR in this respect. Moreover, most transaction have taken place in cash transactions violating section 30h (ii) and (m) of ITO 1984. 2. Impairment analysis for property, plant and equipment has to be done by management following para 9 of IAS 36 was not made as of statement of financial position (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): the assets appear to be not reflected at fair value. 3. It appears form Note # 8.00 of t
(Continuation news of AFCAGRO): the assets appear to be not reflected at fair value. 3. It appears form Note # 8.00 of the notes to the financial statements that total uncleared lodgment is holding with Mutual Trust Bank Ltd. with some cheques which is received by the company at the closing day of accounting period and were not cleared to date of our report. 4. A sum of Tk. 618,449,998 has been shown as accounts receivable in the financial statements. (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): Provision for receivable has been kept only 2.5\% which is not sufficient considering li
(Continuation news of AFCAGRO): Provision for receivable has been kept only 2.5\% which is not sufficient considering life time expected credit loss in accordance with IFRS-9 since some of them are likely to be unrealized. 5. As disclosed in note no. 16.01 of notes to the financial statement, the company paid Tk. 471,109 to its workers but the section 242 of Bangladesh Labor Act 2006 (as amended upto) in regard to Investment of Participation Fund and section 234 of (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): said act was not complied with. Emphasis of Matters: 1. Significant deviation in Earning
(Continuation news of AFCAGRO): said act was not complied with. Emphasis of Matters: 1. Significant deviation in Earning per Share (EPS): EPS for the year ended on 30 June 2022 has come to Tk. 0.22 whereas, it was Tk. 0.15 for the same period of the previous year registering 46.67\% increase in current year as compared to the previous year. The reason behind this increment has been disclosed in note 26.00 of notes to the financial statements. (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of AFCAGRO): 2. Analysis of accounts receivable and related cash flow reveals that a major portion of
(Continuation news of AFCAGRO): 2. Analysis of accounts receivable and related cash flow reveals that a major portion of earlier year(s) figure remain uncollected. 3. As disclosed in the financial statements the Company has made significant related party transaction. Approval has been taken from the AGM held on 31.12.2020 in this regard. Our opinion is not modified in respect of those matters. (end)
The first part of this announcement is missing from the archive. - Qualified Opinion & Emphasis of Matters
(Continuation news of AFCAGRO): date considering the external and internal source of information regarding impairment of assets in accordance with para 12 of said IAS. If any such indication exists, the entity shall estimate the recoverable amount of the asset. But AFC Agro Biotech Ltd. did not make such assessment of impairment though such indication exist. Further due to the specialized operation since impairment test was not done, (cont.5)
The first part of this announcement is missing from the archive. - Q1 Financials
(Q1 Un-audited): EPS was Tk. 0.15 for July-September 2022 as against Tk. 0.29 for July-September 2021; NOCFPS was Tk. 0.08 for July-September 2022 as against Tk. (1.52) for July-September 2021. NAV per share was Tk. 18.34 as on September 30, 2022 and Tk. 18.19 as on June 30, 2022.
- Resumption after record date
Trading of the shares of the Company will resume on 20.11.2022 after record date.
- The Company has informed that they requested to Hon\'ble Prime Minister, the Government of the People\'s Republic of Ban
The Company has informed that they requested to Hon\'ble Prime Minister, the Government of the People\'s Republic of Bangladesh for \"Expression of Interest (EOI)\" for supplying 20 million dosages of CORONA vaccine to the Ministry of Health and Family Welfare which has been developed in collaboration with NRB Scientists, Dhaka University and AFC Agro Biotech Limited. (cont.)
- Approval for supplying CORONA Vaccine and Testing Kits
(Continuation news of AFCAGRO): Consequently, the Hon'ble Prime Minister has kindly approved the policy for procurement of CORONA vaccine and Testing Kits from the company. Accordingly, they will go for commercial production of CORONA Vaccine as soon as possible. (end)
The first part of this announcement is missing from the archive. - Board Meeting schedule under LR 16(1)
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 November 19, 2022 at 10:30 AM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended September 30, 2022.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 17.11.2022
- Spot News
Trading of the shares of the company will be allowed only in the Spot Market and Block transaction will also be settled as per spot settlement cycle with cum benefit from 15.11.2022 to 16.11.2022. Trading of the shares of the Company will remain suspended on record date i.e., 17.11.2022.
- The Board of Directors has recommended 0.50\% Cash dividend for general shareholders only other than Board of Directors
The Board of Directors has recommended 0.50\% Cash dividend for general shareholders only other than Board of Directors for the year ended June 30, 2022. Total paid up number of shares are 115,216,200. General Shareholders hold 80,320,102 shares and Sponsors/Directors hold 34,896,098 shares. Cash dividend payable to the general shareholders is Tk. 4,016,005.00. (cont.)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (30.10.2022) following its corporate declaration. However, as per the BSEC Order No. BSEC/CMRRCD/2001-07/39 dated July 28, 2022, the floor price shall be applicable accordingly.
- Dividend Declaration
(Cont. of AFCAGRO): Date of AGM: 29.12.2022, Time: 10:00 AM, Venue: Digital Platform through link: https://afcagro2022.digitalagmbd.net. Record Date: 17.11.2022. The Company has reported EPS of Tk. 0.22, NAV per share of Tk. 18.19 and NOCFPS of Tk. (0.59) for the year ended June 30, 2022 as against Tk. 0.15, Tk. 18.00 and Tk. 0.17 respectively for the same period of the previous year.(end)
The first part of this announcement is missing from the archive. - Board Meeting schedule under LR 19(1)
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 29, 2022 at 10:30 AM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
- Elected of the Chairman
The Company has informed that the Board of Directors has elected Mr. S.M. Saifur Rahman, as the Chairman of the Company with immediate effect.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 0.05 for January-March 2022 as against Tk. 0.03 for January-March 2021; EPS was Tk. 0.39 for July 2021-March 2022 as against Tk. 0.12 for July 2020-March 2021. NOCFPS was Tk. (0.90) for July 2021-March 2022 as against Tk. 0.43 for July 2020-March 2021. NAV per share was Tk. 18.36 as on March 31, 2022 and Tk. 18.00 as on June 30, 2021.
- Board Meeting schedule under LR 16(1)
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 April 25, 2022 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2022.
- Dividend Disbursement
The Company has informed that it has disbursed the cash dividend for the year ended June 30, 2021 to the respective shareholders.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. 0.04 for October-December 2021 as against Tk. 0.03 for October-December 2020; EPS was Tk. 0.33 for July-December 2021 as against Tk. 0.09 for July-December 2020. NOCFPS was Tk. 0.53 for July-December 2021 as against Tk. 0.45 for July-December 2020. NAV per share was Tk. 18.30 as on December 31, 2021 and Tk. 18.00 as on June 30, 2021.
- Board Meeting schedule under LR 16(1)
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 29, 2022 at 10:00 AM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended December 31, 2021.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.