Eastern Cables Limited announcements
273 Dhaka Stock Exchange announcements for Eastern Cables Limited (ECABLES) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2017 (17).
- Resumption after record date
Trading of the shares of the Company will resume on 03.12.2017 after record date.
- Suspension for Record Date
Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2017.
- Spot News
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 with cum benefit from 28.11.2017 to 29.11.2017. Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2017.
- Query Response (Repeat News)
(Repeat News): In response to a DSE query dated November 19, 2017, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
- Query Response
In response to a DSE query dated November 19, 2017, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
- Sale declaration of a Director
Mr. Khondoker Monir Uddin, one of the Directors of the Company, has expressed his intention to sell 3,47,100 shares out of his total holding of 8,27,100 shares of the Company at prevailing market price (in the Public/Block Market) through Stock Exchanges within next 30 working days.
- Dividend Declaration
The Board of Directors has recommended 10% cash dividend for the year ended on June 30, 2017. Date of AGM: 18.01.2018, Time: 11:00 AM, Venue: Factory Premises of the Company, Patenga, Chittagong. Record Date: 30.11.2017. The Company has also reported EPS of Tk. 1.19, NAV per share of Tk. 30.61 and NOCFPS of Tk. 1.89 for the year ended on June 30, 2017 as against Tk. 1.35, Tk. 30.43 and Tk. 4.44 respectively for the same period of the previous year.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (09.11.2017) following its corporate declaration.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. 0.03 for July-September, 2017 as against Tk. 0.02 for July-September, 2016; NOCFPS was Tk. (9.85) for July-September, 2017 as against Tk. (11.62) for July-September, 2016. NAV per share was Tk. 30.64 as on September 30, 2017 and Tk. 30.61 as on June 30, 2017.
- 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 08, 2017 at 05:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2017
- 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 November 08, 2017 at 5:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2017.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 0.11 for January-March, 2017 as against Tk. 0.27 for January-March, 2016; EPS was Tk. 0.15 for July, 2016-March, 2017 as against Tk. 0.30 for July, 2015-March, 2016. NOCFPS was Tk. (6.73) for July, 2016-March, 2017 as against Tk. (9.03) for July, 2015-March, 2016. NAV per share was Tk. 29.58 as of March 31, 2017 and Tk. 30.43 as of June 30, 2016.
- 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 20, 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.
- Contract Signing to purchase machinery
The Company has informed that it has signed a contract to purchase a High Speed (1+6) Skip Type Stranding Machine, with a price of USD 1,23,307.00, manufactured from M/s. Sarvasv Machinery & Equipment Pvt. Ltd. of New Delhi, India via Local Agent: M/S. Al-Noor Global Trading, Dhaka, Bangladesh.
- Dividend Disbursement
The Company has informed that it has disbursed Cash Dividend for the year ended on June 30, 2016 to the respective shareholders' Bank Accounts and mailing address.
- Q2 Financials
EPS was Tk. 0.02 for October-December, 2016 as against Tk. (0.13) for October-December, 2015; EPS was Tk. 0.04 for July-December, 2016 as against Tk. 0.03 for July-December, 2015. NOCFPS was Tk. (7.11) for July-December, 2016 as against Tk. (4.71) for July-December, 2015. NAV per share was Tk. 30.46 as of December 31, 2016 and Tk. 30.43 as of June 30, 2016.
- Qualified Opinion
The auditor of the company has given the following "Qualified Opinion" in the audit report of the company for the year ended on 30 June 2016: Basis for Qualified Opinion: 1. A sum of Tk. 35,638,827 as on 30.06.2016 has been accounted for on account of leave pay and gratuity. The company ascertained the actual liability of Tk. 430,588,273 to meet the obligation for the employees, if retired on this day. Out of which, Tk. 217,081,253 has been provided till the year under report.Balance amount of the Tk. 213,507,020 is not provided in the financial statements resulting overstatement of profit during the year to that extent. 2.An amount of Tk. 116,899,892 is shown under the head Present Liability (Local), Pre-Liberation, Liabilities, and Liabilities against Sundry Outstanding Expense.The management could not provide us Party-wise Schedule/Subsidiary Ledger to whom the amount to be payable. Hence, we could not verify the said amount (Note-23).An amount of Tk. 21,321,239 payable to various parties has been carried forward since long under the head "Other Financial Liabilities & Provision". No balance confirmation Certificate was made available to us. As such we could not confirm the said amount (Note-24). 4.The company revalued its assets in the year 1987 and the revaluation reserve has been carrying forward since then to the extent of Tk. 18,043,822 without transferring the same into Retained Earnings. The repetition of revaluation reserve with same amount from year after year is impracticable for the effect of IAS-1 or IAS-8 whichever is applicable. 5. As disclosed in note -4 of notes to the financial statements a sum of Tk. 413,599,349 has been shown under the head inventories of stock & stores which includes of obsolete /damage stock as per physical verification. No valuation for damage/obsolete stock has been charged into comprehensive income statement. An amount of Tk. 30,583,985 receivable from various parties shown at management report point 4.01 has been carried forward since long period under the head 'Debtors', 'Current Account-with projects under BSEC Disinvested by Government' and 'Current Accounts with Project under BSEC'. It is very unlikely that these amounts will be recovered. Since the amount was not provided in the financial statements profit has been overstated to the same extent.(Note-6.01, 7.00 & 8.00).7. As disclosed in note-18 of notes to the financial statements, ECL operates a gratuity scheme. But no unfunded actuarial valuation has been done as per BAS-19 and hence it is not possible to confirm whether the year-end provision agree with or approximates to, the provision that would have been required by actuarial valuation.Also, no amount was invested as per section 49 and subsection of section 58 of BS of BAS-19. 8. It appears from Notes 06, 07, 08, and 09 of the financial statements that the disclosure requirement (Ageing Schedule i.e., analysis of the age of financial asset) for Debtors and Advance, Deposits & Prepayments.and other assets have not been made in line with Para Clause 5(A) (iii) & (IV) of schedule-I under Rule 12(2) of the Securities and Exchange Rules, 1987 and the provision of Part-I, Schedule XI, Section 185 of Companies Act 1994, adequate discloser note has been made in the financial statement.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.