APEXWEAV announcements
142 Dhaka Stock Exchange announcements for APEXWEAV (APEXWEAV) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2022 (36).
- Trading of the shares of the Company will resume on 21.12.2022 after record date.
Trading of the shares of the Company will resume on 21.12.2022 after record date.
- Trading of the shares of the Company will remain suspended on record date i.e., 20.12.2022.
Trading of the shares of the Company will remain suspended on record date i.e., 20.12.2022.
- The auditor of the \"Apex Weaving and Finishing Mills Limited\" has given the \"Disclaimer of Opinion\" paragraphs in th
The auditor of the \"Apex Weaving and Finishing Mills Limited\" has given the \"Disclaimer of Opinion\" paragraphs in the Auditor\'s Report for the year ended June 30, 2022. Basis for Disclaimer of Opinion: 1. The company has reported that no revenue has been earned during the year and that no purchase has been made. As per the management, production was not continued during this period, and the inventory was carried forward from previous years. (cont.1)
- (Continuation news of APEXWEAV): However, upon verification, the gas bill and electricity bill of the factory premises w
(Continuation news of APEXWEAV): However, upon verification, the gas bill and electricity bill of the factory premises was gathered and it was seen that gas and electricity were consumed. As per the management of the company, the factory was used by their related party but no contract in this regard was made available to us. No other clarification was available as to why there was no sales, purchase, or production even though gas and electricity were consumed. (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): Also, the gas and electricity bills charged in the financial statements do not match wi
(Continuation news of APEXWEAV): Also, the gas and electricity bills charged in the financial statements do not match with the bill copies of Titas Gas and Dhaka Palli Bidyut Samity-1 that were provided to us. No explanation could be provided in this regard. The management did not allow us to visit the factory to verify the current condition and stocks. Due to the restrictions, we are unable to form any opinion as to whether, in reality, the company was in operation or not. (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): As disclosed in the audit report of previous years, the Company exported and imported t
(Continuation news of APEXWEAV): As disclosed in the audit report of previous years, the Company exported and imported their product through their related party named Home Textile Ltd. as per an agreement dated 15 November, 2012 between the two companies. It was further observed in the financial statements that in the related party disclosures (note no. 23), the company reported deemed export during the year 2021-2022 with Home Textile Ltd. and Sattar Textile Mills Ltd. and purchase from Apex (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): Accessories Ltd., yet, no sales or purchase was reported in the comprehensive income st
(Continuation news of APEXWEAV): Accessories Ltd., yet, no sales or purchase was reported in the comprehensive income statement. No evidence/clarification was provided to us in this regard as to the type of transactions that occurred as stated in note 23. No price-sensitive information was provided regarding the non-operation of the factory or that no sales have been reported during the year. 2. Cash book was not provided and all bank statements as disclosed in the financial statements (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): were not provided (i.e. Credit Agricole Indosuez, DBBL, HSBC A/c 13636 and 03011, Reten
(Continuation news of APEXWEAV): were not provided (i.e. Credit Agricole Indosuez, DBBL, HSBC A/c 13636 and 03011, Retention Quota A/c 030, SCB A/c 1301, SBL STD), so we were not able to verify the balance and/or receipts/payments made by the company during the year. Bank confirmation was sent which was returned in the name of the company. Direct confirmation was not received by us. Cash transactions were made as per management of which no evidence could be provided. (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): Cash at the year-end could not be physically verified due to management-imposed restric
(Continuation news of APEXWEAV): Cash at the year-end could not be physically verified due to management-imposed restrictions. 3. During the year, the company did not report any sales but the sundry debtors (note 4.00) party outstanding balance has changed of which no reflection of the amount received/sales made was seen in the bank accounts provided. It was further observed that the outstanding balance with Sattar Textile Mills Ltd. has increased (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): and decreased in Home Textile Ltd. and a few other parties. No proper documents/evidenc
(Continuation news of APEXWEAV): and decreased in Home Textile Ltd. and a few other parties. No proper documents/evidence is provided to us by the management for Sundry Debtors (note 4.00) explaining the change in the balances. Party confirmation could not be sent due to the unavailability of information. The company reported sales in the earlier years through their related party named Home Textile Ltd. as per an agreement with them, it is highly (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): unusual that the sales have dropped to nil. It is also noted that changes in receivable
(Continuation news of APEXWEAV): unusual that the sales have dropped to nil. It is also noted that changes in receivables indicate sales and/or production/transfer, however, without proper evidence, we are unable to form any opinion in this regard. 4. Bank loans were rescheduled on 30 December 2019 and the first payment was due on 31 March 2021 after rescheduling, however, payment of only Tk. 41,00,000 during the year was paid and no other (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): information/update on the current status of the loans was available. Loans at the year-
(Continuation news of APEXWEAV): information/update on the current status of the loans was available. Loans at the year-end were outstanding of Tk. 1,523,514,977. Also, it was observed from the financial statements, that in the previous year, bank interest payable was shown as an amount of Tk. 87,812,914 which was given as a prior-year adjustment with retained earnings during the year. However, no explanation or proper documents/evidence is provided to us (cont.10)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): by the management for the reversal of bank interest payable and adjustment as a prior y
(Continuation news of APEXWEAV): by the management for the reversal of bank interest payable and adjustment as a prior year with the retained earnings (note 14.00). 5. The Company has shown an amount of Tk. 42,269,279 as Bills Receivable (note 5.00) and last year balance was shown as 57,028,823. However, during the year bills receivables realized amounting Tk. 14,759,544 which could not be traced in the disclosed/provided bank accounts. No proper (cont.11)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): documents/evidence is provided to us by the management for Bills Receivable (note 5.00)
(Continuation news of APEXWEAV): documents/evidence is provided to us by the management for Bills Receivable (note 5.00) to verify the change in balances. 6. The Company has shown an amount of Tk. 203,630,371 as Trade creditors. The balance increased tk.7,800,649 from the previous year which indicates purchases (i.e. dyes and chemicals), however, no purchase or production was reported during the year and the inventory balance also remains unchanged. No proper (cont.12)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): documents/evidence is provided to us by the management for Trade Creditors (note 11.00)
(Continuation news of APEXWEAV): documents/evidence is provided to us by the management for Trade Creditors (note 11.00) to verify the change in balances. 7. The carrying amount of property, plant and equipment (PPE) stands at Tk. 773,697,866. We were not provided with asset register/any document or information regarding the type of assets nature or the current condition of the assets. The company has not charged depreciation during the year and disclosures (cont.13)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): have been given in note 1.3 that as there was no production, depreciation was not charg
(Continuation news of APEXWEAV): have been given in note 1.3 that as there was no production, depreciation was not charged during the year. The company has not reviewed any assets that could be impaired at the end of the year. Reporting assets without any impairment review shall overstate/understate the fixed assets value as of reporting date. Without proper documents/information/evidence, the physical existence and the rights and (cont.14)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): obligations could not be assessed or confirmed with the reported figure. The property p
(Continuation news of APEXWEAV): obligations could not be assessed or confirmed with the reported figure. The property plant and equipment of the company were carried at cost and no information related to any revaluation of the assets has been provided till the date of reporting so it is not understandable whether the Property, Plant and Equipment is presented at the fair value. Proper documents were not provided for asset addition. Physical verification could not (cont.15)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): be conducted due to management-imposed restrictions, thus, the current condition of the
(Continuation news of APEXWEAV): be conducted due to management-imposed restrictions, thus, the current condition of the assets could be verified. 8. Inventories are being carried forward from the last year at the same value at cost without considering the net realizable value. We were unable to determine the value of inventories reported in the financial statements due to lack of information. The company\'s policy of valuation of inventories as noted in the (cont.16)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): disclosure (note-1.4) indicates that management has stated the value of inventories at
(Continuation news of APEXWEAV): disclosure (note-1.4) indicates that management has stated the value of inventories at lower of cost or net realizable value, however, the company has not disclosed any fair market value except the cost value of inventory amounting Tk. 251,331,375 which represents 20\% of the total assets of the company. No technical status report as on 30 June, 2022 on the quantity, quality and value of inventories has been provided to us by the (cont.17)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): management to identify the valuation method. Physical verification could not be conduct
(Continuation news of APEXWEAV): management to identify the valuation method. Physical verification could not be conducted due to management-imposed restrictions, thus, the current condition/existence of the inventories could not be verified. No relevant evidence/record was provided to us to confirm the existence of the stock as of that date. Considering the current position of the company, the existence of the inventory seems doubtful and of which (cont.18)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): no write-down policy was provided by the management. 9. As the Company incurring losses
(Continuation news of APEXWEAV): no write-down policy was provided by the management. 9. As the Company incurring losses since 2009 and its accumulated loss is Tk. 1,510,582,077 as at 30 June 2022, and the net loss incurred during the year is Tk. 68,774,100 due to the breakdown of plant and machinery and the non- availability of banking facilities for working capital, default in making payments against loans indicates the existence of a material uncertainty that cast significant (cont.19)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): doubt on the company\'s ability to continue as a going concern. The company does not ad
(Continuation news of APEXWEAV): doubt on the company\'s ability to continue as a going concern. The company does not adequately disclose this matter in the financial statements. 10. No proper documents/evidence is provided to us by the management for Advance, Deposit, and Prepayments (note 6.00). Adequate disclosures for Advance Income Tax have not been given. It is also to be noted that no proper explanation or evidence could be provided by the management (cont.20)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): against the Advance Income Tax of amounting Tk. 15,849,738 is note no. 06.01 of the fin
(Continuation news of APEXWEAV): against the Advance Income Tax of amounting Tk. 15,849,738 is note no. 06.01 of the financial statements. 11. No proper documents/evidence is provided to us by the management for L/C Liabilities paid during the year (note 12.00). 12. No proper documents/evidence is provided to us by the management for Sundry Creditors (note 13.00). 13. The Company has shown an amount of Tk. 23,913,827 as an Unclaimed Dividend (cont.21)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): (note 14.00). The separate bank account was not maintained by the company and there is
(Continuation news of APEXWEAV): (note 14.00). The separate bank account was not maintained by the company and there is a shortfall in cash to pay off the unpaid amount. The amount of unclaimed dividend of Tk. 23,913,827 is not segregated year-wise and with details claimants BO A/C as per BSEC directive no. BSEC/CMRRCD/2021-386/03 dated 14 January 2021. 14. No proper documents/evidence is provided to us by the management for Manufacturing (cont.22)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): Overhead (note 20.00) and Administrative and Selling Expenses (note 21.00). 15. Written
(Continuation news of APEXWEAV): Overhead (note 20.00) and Administrative and Selling Expenses (note 21.00). 15. Written representation by the management was provided, however, due to the inconsistency and unavailability of information and that the said inconsistencies remain unresolved, the written representation is not considered reliable. 16. No proper books of accounts were maintained by the management and we were not given access to carry out our (cont.23)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): audit procedures, due to which we are unable to form any opinion on these financial sta
(Continuation news of APEXWEAV): audit procedures, due to which we are unable to form any opinion on these financial statements. Only a few documents were provided, the authenticity of which was also not verifiable due to lack of information. We have carried out analytical procedures that indicate abnormal (cont.24)
The first part of this announcement is missing from the archive. - (Continuation news of APEXWEAV): changes in balances/ratios, however, without appropriate and sufficient supporting docu
(Continuation news of APEXWEAV): changes in balances/ratios, however, without appropriate and sufficient supporting documents or explanation we are not able to draw any conclusion on the activities of the management and the reliability and factual accuracy of the prepared financial statements. (end)
The first part of this announcement is missing from the archive. - 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 18.12.2022 to 19.12.2022. Trading of the shares of the Company will remain suspended on record date i.e., 20.12.2022.
- The Board of Directors has recommended No Dividend for the year ended June 30, 2022. Date of AGM: 31.12.2022, Time: 11:0
The Board of Directors has recommended No Dividend for the year ended June 30, 2022. Date of AGM: 31.12.2022, Time: 11:00 AM, Venue: Digital Platform. Record Date: 20.12.2022. The Company has reported EPS of Tk. (1.77), NAV per share of Tk. (15.62) and NOCFPS of Tk. (1.43) for the year ended June 30, 2022 as against Tk. (4.52), Tk. (16.11) and Tk. (3.05) 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 (30.11.2022) following its corporate decl
There will be no price limit on the trading of the shares of the Company today (30.11.2022) following its corporate declaration
- As per Regulation 17(1) of the Dhaka Stock Exchange (Listing of Small Capital Companies) Regulations, 2019, the Company
As per Regulation 17(1) of the Dhaka Stock Exchange (Listing of Small Capital Companies) Regulations, 2019, the Company has informed that a meeting of the Board of Directors will be held on November 29, 2022 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
- In response to a DSE query dated October 17, 2022, the Company has informed that there is no undisclosed price sensitive
In response to a DSE query dated October 17, 2022, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike of shares.
- In response to a DSE query dated June 20, 2022, the Company has informed that there is no undisclosed price sensitive in
In response to a DSE query dated June 20, 2022, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike and increase in volume of shares.
- In response to a DSE query dated June 07, 2022 regarding clarification on recent news published in the newspaper regardi
In response to a DSE query dated June 07, 2022 regarding clarification on recent news published in the newspaper regarding Inoperative Apex Weaving share zooms 26\% in 3 days, the Company has informed that their factory?s Electricity and Gas lines have been disconnected from 22 and 23 May 2022 respectively due to non-payment of arrears. As a result, the factory is not operative now. (cont.)
- (Continuation news of APEXWEAV): The Company informed that they are trying to arrange the payment and re-connect. The Co
(Continuation news of APEXWEAV): The Company informed that they are trying to arrange the payment and re-connect. The Company also informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike. (end)
The first part of this announcement is missing from the archive. - In response to a DSE query dated April 03, 2022, the Company has informed that there is no undisclosed price sensitive i
In response to a DSE query dated April 03, 2022, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike of shares.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.