Bangladesh Welding Electrodes Ltd. announcements
317 Dhaka Stock Exchange announcements for Bangladesh Welding Electrodes Ltd. (BDWELDING) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2017 (36).
- (Basis for Qualified Opinion and Emphasis of Matter): The auditor of the company has given the following "Basis for Qual
(Basis for Qualified Opinion and Emphasis of Matter): The auditor of the company has given the following "Basis for Qualified Opinion" and "Emphasis of Matter" Paragraphs in the audit report of the company for the year ended on 30 June 2017: Basis of Qualified Opinion: a) The carrying amount of property, plant and equipment as reported in the financial position as at 30 June 2017 is Tk. 174,207,903.00. The company is shifting its factory from Chittagong to Dhaka. Therefore, the operation (cont.1)
- (Continuation news of BDWELDING): of the company is suspended till completion of shifting. Bangladesh Accounting Standar
(Continuation news of BDWELDING): of the company is suspended till completion of shifting. Bangladesh Accounting Standards (BASs) 36 requires impairment test of property, plant and equipment and necessary disclosure in this regard, but no such test was carried out by the company. b) The evidence with respect to inventory having a carrying amount of Tk. 205,838,257.00 was limited because we could not observe the counting of physical inventory as of 30 June 2017 as well as no proper (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of BDWELDING): inventory record was provided to us during audit. As a result, physical existence of i
(Continuation news of BDWELDING): inventory record was provided to us during audit. As a result, physical existence of inventory could not be verified. c) Deferred tax has been calculated only on re-valuation surplus and accounted for in the financial statements without taking into consideration the temporary difference amount. d) Unclaimed dividend as per financial statements is Tk. 32,68,007 but no fund exists as such in the financial statements to meet this liability. Emphasis of matter: (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of BDWELDING): Without qualifying our opinion, we draw attention to a) note # 2.04 to the financial s
(Continuation news of BDWELDING): Without qualifying our opinion, we draw attention to a) note # 2.04 to the financial statements in which the management of the company explained its position as to why the financial statements have been prepared on going concern basis. b) note # 22.04, 22.05 & 22.06 to the financial statements in which the management of the company explained the reasons as to why provisions have been made for inventories, receivables and registration and mutation purposes. (end)
The first part of this announcement is missing from the archive. - (Q1 Un-audited): EPS was Tk. (0.15) for July-September, 2017 as against Tk. (0.29) for July-September, 2016; NOCFPS was
(Q1 Un-audited): EPS was Tk. (0.15) for July-September, 2017 as against Tk. (0.29) for July-September, 2016; NOCFPS was Tk. (0.42) for July-September, 2017 as against Tk. (0.27) for July-September, 2016. NAV per share was Tk. 11.89 as on September 30, 2017 and Tk. 12.59 as on September 30, 2016.
- Trading of the shares of the Company will resume on 10.12.2017 after record date.
Trading of the shares of the Company will resume on 10.12.2017 after record date.
- Trading of the shares of the Company will remain suspended on record date i.e., 07.12.2017.
Trading of the shares of the Company will remain suspended on record date i.e., 07.12.2017.
- 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 06, 2017 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2017.
- In response to a DSE query dated November 26, 2017, the Company has informed that there is no undisclosed price sensitiv
In response to a DSE query dated November 26, 2017, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike of shares.
- 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 26.11.2017 to 06.12.2017. Trading of the shares of the Company will remain suspended on record date i.e., 07.12.2017.
- The Board of Directors has recommended No Dividend for the year ended on June 30, 2017. Date of AGM: 27.12.2017. Time: 1
The Board of Directors has recommended No Dividend for the year ended on June 30, 2017. Date of AGM: 27.12.2017. Time: 10:30 AM. Venue: Shahid Commissioner Sayedur Rahman Newton Community Center (8 No. Ward), Chiriakhana Road, Mirpur-1, Dhaka. Record Date: 07.12.2017. The Company has also reported EPS of Tk. 1.95, NAV per share of Tk. 12.04 and NOCFPS of Tk. (0.73) for the year ended on June 30, 2017 which was Tk. (3.13), Tk. 12.87 and Tk. (1.26) 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 (19.11.2017) following its corporate decl
There will be no price limit on the trading of the shares of the Company today (19.11.2017) following its corporate declaration.
- The Company has further informed that meeting of the Board of Directors of the Company as per Regulation 19(1) of the Dh
The Company has further informed that meeting of the Board of Directors of the Company as per Regulation 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, will now be held on November 16, 2017 at 5:00 PM instead of October 31, 2017 at 5:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2017.
- The Company has further informed that the scheduled Board Meeting, as per Regulation 19(1) of the DSE (Listing) Regulati
The Company has further informed that the scheduled Board Meeting, as per Regulation 19(1) of the DSE (Listing) Regulations, 2015, started on 31.10.2017 in due time but adjourned as the accounting treatments in the Financial Statements for the year ending 30.06.2017 required some revision/rectification due to sale of Chittagong Factory Land and shifting process of the same to Dhaka. The resumption date and time of the meeting will be notified shortly.
- 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 October 31, 2017 at 5:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2017.
- The Company has informed that the Registered Office of the Company has been shifted to its own building at Mukto Bangla
The Company has informed that the Registered Office of the Company has been shifted to its own building at Mukto Bangla Shopping complex, Space No. 189-192, 7th Floor (Lift-7) East Corner, Mirpur Section -1, Dhaka-1216 with effect from October 01, 2017.
- The Company has informed that, in pursuant to the approval of shareholders in the EGM held on December 05, 2016, the Boa
The Company has informed that, in pursuant to the approval of shareholders in the EGM held on December 05, 2016, the Board of Directors of the Company in its meeting held on July 29, 2017 considered the following: "The Company has acquired 209.65 decimal lands through saf-kabla and binanama at Dhamrai, Dhaka at a cost of approximately Tk. 7.00 crore. Due to project shifting, the Production will remain suspended."
- BSEC NEWS: Bangladesh Securities and Exchange Commission (BSEC) has formed an enquiry committee to investigate into unus
BSEC NEWS: Bangladesh Securities and Exchange Commission (BSEC) has formed an enquiry committee to investigate into unusual movement of price and volume of shares of Bangladesh Welding Electrodes Ltd. in the Stock Exchanges (BSEC Order No. BSEC/Surveillance/2017-0895/813 dated July 24, 2017).
- 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.
- With reference to the earlier news disseminated by DSE dated October 26, 2016 the company has further informed that the
With reference to the earlier news disseminated by DSE dated October 26, 2016 the company has further informed that the Board of Directors has decided the following: (1) Accepted the Sanction Advice of Southeast Bank Ltd. for the full and final settlement of loan liability to be paid to them from the sale proceeds of the factory land. (2) The factory land of Bangladesh Welding Electrodes Ltd. Situated at D-4 Sholashahar Industrial area, (cont.1)
- (Continuation news of BDWELDING) (3) Chittagong be sold to Bangladesh Steel Re-Rolling Mills Limited, Chittagong as per
(Continuation news of BDWELDING) (3) Chittagong be sold to Bangladesh Steel Re-Rolling Mills Limited, Chittagong as per MOU signed between the parties A letter of Comfort has been issued by the Southeast Bank Ltd. Bangshal Branch, Dhaka favoring the purchaser Bangladesh Steel Re-Rolling Mills Limited, Chittagong to get the redemption executed for the factory land mortgaged with the bank on payment of the loan amount directly to the Southeast Bank on the day of redemption. (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of BDWELDING) (4) Escrow Account in the name of the Company has been opened with IFIC Bank Ltd., Prin
(Continuation news of BDWELDING) (4) Escrow Account in the name of the Company has been opened with IFIC Bank Ltd., Principal Branch, IFIC Tower, 61 Purana Paltan, Dhaka-1000 to be operated under the joint signature of the Managing Director and one Director from ICB to utilize the sales proceeds to buy the factory land at Dhamrai, Dhaka and to meet other related expenses. (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of BDWELDING): The Escrow Account details have been communicated to the purchaser of the factory land
(Continuation news of BDWELDING): The Escrow Account details have been communicated to the purchaser of the factory land BSRM Ltd. to deposit the initial amount as agreed by and between the parties. (5) The purchase of factory land at Dhamrai, Dhaka will be started on receipt of the sales proceeds of the Chittagong factory land from the purchaser of the land. (end)
The first part of this announcement is missing from the archive. - (Q3 Un-audited): EPS was Tk. (0.17) for January-March, 2017 as against Tk. (0.38) for January-March, 2016; EPS was Tk. (
(Q3 Un-audited): EPS was Tk. (0.17) for January-March, 2017 as against Tk. (0.38) for January-March, 2016; EPS was Tk. (0.72) for July, 2016-March, 2017 as against Tk. (2.58) for July, 2015-March, 2016. NOCFPS was Tk. (0.43) for July, 2016-March, 2017 as against Tk. (1.20) for July, 2015-March, 2016. NAV per share was Tk. 12.16 as on March 31, 2017 and Tk. 12.87 as on June 30, 2016.
- 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 May 04, 2017 at 5:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2017.
- (Q2 Un-audited): EPS was Tk. (0.26) for October-December, 2016 as against Tk. (1.92) for October-December, 2015; EPS was
(Q2 Un-audited): EPS was Tk. (0.26) for October-December, 2016 as against Tk. (1.92) for October-December, 2015; EPS was Tk. (0.55) for July-December, 2016 as against Tk. (2.33) for July-December, 2015. NOCFPS was Tk. (0.38) for July-December, 2016 as against Tk. (1.08) for July-December, 2015. NAV per share was Tk. 12.32 as of December 31, 2016 and Tk. 12.87 as of June 30, 2016.
- 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 31, 2017 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, 2016.
- (Qualified Opinion and Emphasis of Matter): The auditor of the company has given the following qualified opinion and emp
(Qualified Opinion and Emphasis of Matter): The auditor of the company has given the following qualified opinion and emphasis of matter in the audit report of the company for the year ended on 30 June 2016: Basis of Qualified Opinion: a) The carrying amount of property, plant and equipment as reported in the financial position as at 30 June 2016 is Tk. 49,30,66,335. In absence of updated fixed assets register, we could not verify the property, plant and equipment including additions (cont. 1)
- (continuation news of BDWELDING): during the year with reference to their specifications, code, location, quantity and v
(continuation news of BDWELDING): during the year with reference to their specifications, code, location, quantity and value thereof. In addition during audit we were not provided sufficient appropriate evidence in support of additions to property, plant and equipment for Tk. 1,58,61,262. Moreover during physical verification in factory we observed that a significant part of machinery was fully unusable. Bangladesh Accounting Standards (BASs) 36 (cont. 2)
The first part of this announcement is missing from the archive. - (continuation news of BDWELDING): requires impairment test of property, plant and equipment and necessary disclosure in
(continuation news of BDWELDING): requires impairment test of property, plant and equipment and necessary disclosure in this regard. The company has no laid down policy and procedure in regard to impairment test, and no such test was carried out. b) The evidence with respect to inventory having a carrying amount of Tk. 21,00,77,780 was limited because we did not observe the counting of physical inventory as of 30 June 2016 as well as no inventory record was provided to us during audit. (cont. 3)
The first part of this announcement is missing from the archive. - (continuation news of BDWELDING): As a result, physical existence of inventory could not be verified. We had no other pr
(continuation news of BDWELDING): As a result, physical existence of inventory could not be verified. We had no other practical alternative audit procedure that we could not apply to authenticate the physical existence as well as the value thereof as on 30 June 2016. c) The company has reported an amount of Tk. 22,79,54,578 as receivable from customers. During audit we were provided a partial list of receivables and from which ten (10) customers were sent balance confirmation letter (cont. 4)
The first part of this announcement is missing from the archive. - (continuation news of BDWELDING): with a view to confirm the balance as on 30 June 2016 but no response yet received. As
(continuation news of BDWELDING): with a view to confirm the balance as on 30 June 2016 but no response yet received. As a result, we could not confirm the amount receivables reported in the financial statements. d) Deferred tax has been calculated only on revaluation surplus and accounted for in the financial statements without taking into consideration the temporary difference in the financial statements the operational results for the year and financial position at the end of the year (cont. 5)
The first part of this announcement is missing from the archive. - (continuation news of BDWELDING): of the company could have been changed. We could not calculate the amount of deferred
(continuation news of BDWELDING): of the company could have been changed. We could not calculate the amount of deferred tax for want of necessary information. e) Unclaimed dividend as per financial statements is Tk. 32,68,007 but no fund exists as such in the financial statements. The company could not provide any bank statement or bank certificate wherein this fund was kept reserved in favour of this unclaimed dividend which indicates that the company (cont.6)
The first part of this announcement is missing from the archive. - (continuation news of BDWELDING): does not have sufficient arrangements to meet this liability. Emphasis of matter: In a
(continuation news of BDWELDING): does not have sufficient arrangements to meet this liability. Emphasis of matter: In addition our qualified opinion we also mention that the company has incurred a substantial amount of loss compared with profit of previous year. Due to such loss the company was unable to repay the bank loan with interest as per loan agreement. Consequently the loan has been classified as overdue and all banking facilities have been postponed by the lending bank. (cont. 7)
The first part of this announcement is missing from the archive. - (continuation news of BDWELDING): We draw attention to the note no.2.04 to the financial statements where management has
(continuation news of BDWELDING): We draw attention to the note no.2.04 to the financial statements where management has explained how they will continue in operational existence for the foreseeable future in spite the position as explained above. However we are not qualifying our opinion for this issue. (End)
The first part of this announcement is missing from the archive. - In response to a DSE query dated January 01, 2017 regarding unusual price hike of shares, the Company has given, among o
In response to a DSE query dated January 01, 2017 regarding unusual price hike of shares, the Company has given, among others, the following response: "We do not have any undisclosed material decision/information right at this moment; rather we are facing tremendous difficulty in running the business of the Company in the absence of Banking Loan facility and not getting the insurance claim for the flood loss occurred on July 2015."
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.