Aziz Pipes Limited announcements
320 Dhaka Stock Exchange announcements for Aziz Pipes Limited (AZIZPIPES) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2013 (21).
- In response to a DSE query dated December 09, 2013, the Company has informed that there is no undisclosed price sensitiv
In response to a DSE query dated December 09, 2013, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
- (Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2013 (July'13 to Sep'13), the Com
(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2013 (July'13 to Sep'13), the Company has reported net profit/(loss) after tax of Tk. 0.19 million with EPS of Tk. 0.04 as against Tk. (0.63) million and Tk. (0.13) respectively for the same period of the previous year. Whereas net profit after tax was Tk. 2.13 million with EPS of Tk. 0.44 for the period of nine months (Jan'13 to Sep'13) ended on 30.09.2013 as against Tk. 2.53 million and Tk. 0.52 respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (433.24) million as on 30.09.2013 resulting total shareholders' equity stands at Tk. (201.75) million.
- (Repeat): In response to a DSE query, the Company has further informed that there is no undisclosed price sensitive info
(Repeat): In response to a DSE query, the Company has further informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
- In response to a DSE query, the Company has further informed that there is no undisclosed price sensitive information of
In response to a DSE query, the Company has further informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
- In response to a DSE query, the Company has informed that there is no undisclosed price sensitive information of the Com
In response to a DSE query, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
- (H/Y): As per un-audited half yearly accounts as on 30.06.2013 (Jan'13 to June'13), the Company has reported net profit
(H/Y): As per un-audited half yearly accounts as on 30.06.2013 (Jan'13 to June'13), the Company has reported net profit after tax of Tk. 1.94 million with EPS of Tk. 0.40 as against Tk. 3.15 million and Tk. 0.65 respectively for the same period of the previous year. Whereas net profit/(loss) after tax was Tk. (0.27) million with EPS of Tk. (0.05) for the period of 3 months (Apr'13 to June'13) ended on 30.06.2013 as against Tk. 0.03 million and Tk. 0.01 respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (433.42) million as on 30.06.2013 resulting total shareholders' equity stands at Tk. (201.94) million.
- Audit Observation
(Audit Observation): "Kazi Zahir Khan & Co.", Auditor of the company, has given the following audit observation in the audit report of the company for the year ended 31 December 2012. "(1). Utilization of Production Capacity and ability of the Company to pay Debt: The production capacity utilization position of the Company is very poor. Total Utilization capacity of the Company is only 28.44% which was 32.81% at previous year. The management of the Company opined that the shortfall was made due to reduce demand emanated from general economic downturn & shortage of working capital. In our opinion, production capacity must be utilized at the optimum level to strengthen the financial position of the Company. Further, it is mentioned that as of 31 December, 2012 . the cumulative balance of retained earning stands on negative balance amounting to Tk. 435,360,454 and indebted to the extent of Tk. 629,094,385 consisting of loan fund and current liabilities. All these facts indicate significant uncertainty as to the Company's liability to repay the liabilities. (2). Cost of Goods Sold (COGS): The Cost of Goods Sold represents 90.86% of the total turnover, which is the higher side and it was also 92.26% in the last year. In our opinion for steady profit of the Company the cost of goods sold ratio to turnover should be reduced as much as possible and also sales price of the product should be re-fixed. (3). Deferred Taxation: The company recognized no Deferred Taxation with paragraph-47 of BAS -12. (4). Deferred Revenue Expenditure & Pre-Production Expenses: During the year the Company has been amortized Tk. 500,000 and Tk. 1,000,000 against Deferred Revenue Expenditure & Pre-Production Expenses respectively. We feel that entire rest of the amount should be written off immediately. (5). Loan Fund: The Company has continuously been defaulting in payment of installment against short-term loan and cash credit from Uttara bank Ltd., Dutch Bangla Bank Ltd. and National Bank Ltd., which included in Note-13,14 & 15. The Company is under process of negotiation for restructuring with the Financial Institutions. Both the Company and Uttara Bank Ltd., Dutch Bangla Bank Ltd. and National Bank Ltd. have gone intliability by 10(ten) years. b) Tk. 1.00 crore paid as down payment in two installments (80 lac & 20 lac). c) Freezing of further charging of interest till full adjustment of the liability which also to be treated as waived subject full adjustment of Tk. 13,20,00,000/-. d) Rest of Tk.12.20 Crore will pay in 120 installment within 10 years. e) During the year under Audit Tk. 90.00 lac paid as yearly installment. Note -14 states that Short Term Loan: TK. 57,200,000: This amount represents conversion of short term loan (cash credit hypothecation / pledge) into segregated and blocked term loan A/C by Uttara Bank Ltd., Corporate Branch. As per understanding given by the bank this segregated amount will not attract any interestlitigation to mitigate their respective grievances and such no interest has been charged during the year against those loans. However, the Company management should take pragmatic actions to negotiate the mater as early as possible. Note-13 states that Term Loan: Tk. 84,052,750: This amount represents conversation of overdraft loan in Block Term Loan A/C by Southeast Bank Ltd. principal Branch. As per re-scheduling given by Bank this Term Loan amount will not attract any interest. As per re-scheduling arrangement vide their letter no. HO/CAD/822/2007/ dated 30th December 2007. The terms and condition is given below: a) Aziz Pipes Ltd. will repay Tk. 13,20,00,000 (thirteen crore twenty lac) for final settlement of the and as such has been treated accordingly by the Company. Note -15 states that Cash Credit: TK. 359,535,025: Cash credits are availed from the following Banks and are secured against hypothecation of Fixed & Floating assets i.e. on Raw materials, Work-in-process stores & spares and also personal guarantee of all Directors of the Company. Uttara Bank Ltd. amounting to Tk. 174,264,454, National Bank Ltd. amounting to Tk. 69,819,803 Dutch Bangla Bank Ltd. amounting to Tk. 115,450,768 total amounting to Tk. 359,535,025. All the above Banks have filled cases against the Company for realization of their outstanding loans which is still against the above banks for correction of accounts as well as compensation for the lapsesof the Banks in providing funds timely unsettled. The Company also filled cases against the above banks for correction of accounts as well as compensation for lapses of the Banks in providing funds timely. Since filling of the cases against the Company, the Banks neither charged any interest nor sent any demand from note/statement of interest for the period from 01-01-2012 to 31-12-2012 to the Company. In view of the above, interest has not been shown in the Company's accounts for the said period."
- (Continuation of news of AZIZPIPES): of the Banks in providing funds timely unsettled. The Company also filled cases aga
(Continuation of news of AZIZPIPES): of the Banks in providing funds timely unsettled. The Company also filled cases against the above banks for correction of accounts as well as compensation for lapses of the Banks in providing funds timely. Since filling of the cases against the Company, the Banks neither charged any interest nor sent any demand from note/statement of interest for the period from 01-01-2012 to 31-12-2012 to the Company. In view of the above, interest has not been shown in the Company's accounts for the said period."(end)
The first part of this announcement is missing from the archive. - (Continuation of news of AZIZPIPES): and as such has been treated accordingly by the Company. Note -15 states that Cash
(Continuation of news of AZIZPIPES): and as such has been treated accordingly by the Company. Note -15 states that Cash Credit: TK. 359,535,025: Cash credits are availed from the following Banks and are secured against hypothecation of Fixed & Floating assets i.e. on Raw materials, Work-in-process stores & spares and also personal guarantee of all Directors of the Company. Uttara Bank Ltd. amounting to Tk. 174,264,454, National Bank Ltd. amounting to Tk. 69,819,803 Dutch Bangla Bank Ltd. amounting to Tk. 115,450,768 total amounting to Tk. 359,535,025. All the above Banks have filled cases against the Company for realization of their outstanding loans which is still against the above banks for correction of accounts as well as compensation for the lapses (Cont.-6)
The first part of this announcement is missing from the archive. - (Continuation of news of AZIZPIPES): liability by 10(ten) years. b) Tk. 1.00 crore paid as down payment in two installme
(Continuation of news of AZIZPIPES): liability by 10(ten) years. b) Tk. 1.00 crore paid as down payment in two installments (80 lac & 20 lac). c) Freezing of further charging of interest till full adjustment of the liability which also to be treated as waived subject full adjustment of Tk. 13,20,00,000/-. d) Rest of Tk.12.20 Crore will pay in 120 installment within 10 years. e) During the year under Audit Tk. 90.00 lac paid as yearly installment. Note -14 states that Short Term Loan: TK. 57,200,000: This amount represents conversion of short term loan (cash credit hypothecation / pledge) into segregated and blocked term loan A/C by Uttara Bank Ltd., Corporate Branch. As per understanding given by the bank this segregated amount will not attract any interest (Cont.-5)
The first part of this announcement is missing from the archive. - (Continuation of news of AZIZPIPES): litigation to mitigate their respective grievances and such no interest has been ch
(Continuation of news of AZIZPIPES): litigation to mitigate their respective grievances and such no interest has been charged during the year against those loans. However, the Company management should take pragmatic actions to negotiate the mater as early as possible. Note-13 states that Term Loan: Tk. 84,052,750: This amount represents conversation of overdraft loan in Block Term Loan A/C by Southeast Bank Ltd. principal Branch. As per re-scheduling given by Bank this Term Loan amount will not attract any interest. As per re-scheduling arrangement vide their letter no. HO/CAD/822/2007/ dated 30th December 2007. The terms and condition is given below: a) Aziz Pipes Ltd. will repay Tk. 13,20,00,000 (thirteen crore twenty lac) for final settlement of the (Cont.-4)
The first part of this announcement is missing from the archive. - (Continuous of news of AZIZ PIPES): of BAS -12. (4). Deferred Revenue Expenditure & Pre-Production Expenses: During the
(Continuous of news of AZIZ PIPES): of BAS -12. (4). Deferred Revenue Expenditure & Pre-Production Expenses: During the year the Company has been amortized Tk. 500,000 and Tk. 1,000,000 against Deferred Revenue Expenditure & Pre-Production Expenses respectively. We feel that entire rest of the amount should be written off immediately. (5). Loan Fund: The Company has continuously been defaulting in payment of installment against short-term loan and cash credit from Uttara bank Ltd., Dutch Bangla Bank Ltd. and National Bank Ltd., which included in Note-13,14 & 15. The Company is under process of negotiation for restructuring with the Financial Institutions. Both the Company and Uttara Bank Ltd., Dutch Bangla Bank Ltd. and National Bank Ltd. have gone into (Cont.-3)
The first part of this announcement is missing from the archive. - (Audit Observation): "Kazi Zahir Khan & Co.", Auditor of the company, has given the following audit observation in the a
(Audit Observation): "Kazi Zahir Khan & Co.", Auditor of the company, has given the following audit observation in the audit report of the company for the year ended 31 December 2012. "(1). Utilization of Production Capacity and ability of the Company to pay Debt: The production capacity utilization position of the Company is very poor. Total Utilization capacity of the Company is only 28.44% which was 32.81% at previous year. The management of the Company opined that the shortfall was made due to reduce demand emanated from general economic downturn & shortage of working capital. In our opinion, production capacity must be utilized at the optimum level to strengthen the financial position of the Company. Further, it is mentioned that as of 31 December, 2012 (Cont.-1)
- (Continuous of news of AZIZ PIPES): the cumulative balance of retained earning stands on negative balance amounting to T
(Continuous of news of AZIZ PIPES): the cumulative balance of retained earning stands on negative balance amounting to Tk. 435,360,454 and indebted to the extent of Tk. 629,094,385 consisting of loan fund and current liabilities. All these facts indicate significant uncertainty as to the Company's liability to repay the liabilities. (2). Cost of Goods Sold (COGS): The Cost of Goods Sold represents 90.86% of the total turnover, which is the higher side and it was also 92.26% in the last year. In our opinion for steady profit of the Company the cost of goods sold ratio to turnover should be reduced as much as possible and also sales price of the product should be re-fixed. (3). Deferred Taxation: The company recognized no Deferred Taxation with paragraph-47 (Cont.-2)
The first part of this announcement is missing from the archive. - Normal trading of the shares of the Company will resume on 21.05.2013 after record date.
Normal trading of the shares of the Company will resume on 21.05.2013 after record date.
- Trading of the shares of the Company will remain suspended on record date i.e., 20.05.2013.
Trading of the shares of the Company will remain suspended on record date i.e., 20.05.2013.
- Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be
Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be settled as per Spot settlement cycle from 07.05.2013 to 19.05.2013. Trading of the shares of the Company will remain suspended on record date i.e., 20.05.2013.
- (Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2013 (Jan'13 to Mar'13), the Company
(Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2013 (Jan'13 to Mar'13), the Company has reported net profit after tax of Tk. 2.20 million with EPS of Tk. 0.45 as against Tk. 3.12 million and Tk. 0.64 respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (433.16) million as on 31.03.2013 resulting total shareholders' equity stands at Tk. (201.68) million.
- There will be no price limit on the trading of the shares of the Company today (02.05.2013) following its corporate decl
There will be no price limit on the trading of the shares of the Company today (02.05.2013) following its corporate declaration.
- The Board of Directors did not recommend any dividend for the year ended on December 31, 2012. Date of AGM: 23.06.2013,
The Board of Directors did not recommend any dividend for the year ended on December 31, 2012. Date of AGM: 23.06.2013, Time: 10:00 AM, Venue: Trust Milonayaton, 545, Old Airport Road, Dhaka Cantonment, Dhaka. Record Date: 20.05.2013. The Company has also reported EPS of Tk. 0.39, NAV per share of Tk. (42.04) and NOCFPS of Tk. 1.73 for the year ended on December 31, 2012 as against Tk. (0.99), Tk. (40.88) and Tk. 2.96 respectively for the year ended on December 31, 2011.
- As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will
As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will be held on April 30, 2013 at 3:30 PM to consider, among others, audited financial statements of the Company for the year ended on December 31, 2012.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.