Federal Insurance PLC announcements
386 Dhaka Stock Exchange announcements for Federal Insurance PLC (FEDERALINS) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (24).
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 0.25 for July-September, 2023 as against Tk. 0.37 for July-September, 2022; EPS was Tk. 0.96 for January-September, 2023 as against Tk. 1.02 for January-September, 2022. NOCFPS was Tk. 0.20 for January-September, 2023 as against Tk. 1.50 for January-September, 2022. NAV per share was Tk. 12.92 as on September 30, 2023 and Tk. 12.97 as on December 31, 2022.
- 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 October 29, 2023 at 2:45 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended September 30, 2023.
- Dividend Disbursement
The Company has informed that it has disbursed the Cash Dividend for the year ended December 31, 2022 to the respective shareholders.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. 0.30 for April-June 2023 as against Tk. 0.33 for April-June 2022; EPS was Tk. 0.65 for January-June 2023 as against Tk. 0.65 for January-June 2022. NOCFPS was Tk. 0.24 for January-June 2023 as against Tk. 0.64 for January-June 2022. NAV per share was Tk. 13.62 as on June 30, 2023 and Tk. 12.97 as on December 31, 2022.
- 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 July 27, 2023 at 2:45 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended June 30, 2023.
- National Credit Ratings Limited has assigned the surveillance entity rating of the Company as \"AA+\" in the long term a
National Credit Ratings Limited has assigned the surveillance entity rating of the Company as \"AA+\" in the long term and \"ST-2\" in the short term along with Stable outlook based on audited financial statements as on December 31, 2022.
- Resumption after record date
Trading of the shares of the company will resume on 01.06.2023.
- Suspension for Record date
Trading of the shares of the company will be suspended on record date i.e., 31.05.2023
- 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 29.05.2023 to 30.05.2023 and trading of the shares will be suspended on record date i.e., 31.05.2023.
- The auditor of the Federal Insurance Company Ltd. has given the \"Qualified Opinion and Emphasis of Matter\" paragraph i
The auditor of the Federal Insurance Company Ltd. has given the \"Qualified Opinion and Emphasis of Matter\" paragraph in the Auditor\'s Report for the year ended on December 31, 2022. \" Basis for Qualified Opinion: 1. Through our audit procedures we noted that the gratuity liability incurred by the Company as at December 31, 2022, is approximately BDT 5.07 Crore. This is based on the number of employees eligible for gratuity benefit and the number of years (cont.1)
- (Continuation news of FEDERALINS): of service completed. As per note # 7.00 of the financial statements, the Company has
(Continuation news of FEDERALINS): of service completed. As per note # 7.00 of the financial statements, the Company has only recognized a Gratuity Liability of BDT 70 Lacs. Therefore, as at 31 December 2022, the Company\'s recognized liability on the Statement of Financial Position is understated by BDT 4.37 Crore. Emphasis of Matter: 1. We draw the attention to note # 18.00 of the financial statements regarding \"Outstanding Premium\", (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of FEDERALINS): Company is realizing the outstanding amount from service benefit of employees, engage
(Continuation news of FEDERALINS): Company is realizing the outstanding amount from service benefit of employees, engaged in procuring the business, at the time of retirement. Our opinion is not modified on this regard. 2. As disclosed in the note # 20.02 of the financial statements, we draw your attention to the following balances: \"Agent Balance\", \"Collection Control Account\", \"Advance Against Claim Payment\", and note # 20.03 of the financial statements regarding (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of FEDERALINS): \"Deposit & Prepayments\" in respect of \"Prepaid expenses\". Our opinion is not modi
(Continuation news of FEDERALINS): \"Deposit & Prepayments\" in respect of \"Prepaid expenses\". Our opinion is not modified on this regard against which board has decided to write off the amount gradually within 5(five) years. 3. As disclosed in the note # 17.00 of the financial statements regarding \"Deferred tax assets\" the management has disclosed the basis of the calculation. Our opinion is not modified on this regard. (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of FEDERALINS): 4. As disclosed in the note # 11.02.01 of the financial statements regarding \"Provis
(Continuation news of FEDERALINS): 4. As disclosed in the note # 11.02.01 of the financial statements regarding \"Provision for Taxation\" the management has disclosed the basis of the provision kept by the company. Our opinion is not modified on this regard. Note # 18.00 Outstanding Premium: The total Outstanding Premium balance as on 31 December 2022 was Taka 29,071,090. (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of FEDERALINS): Note # 20.02 Advance Against Others: The \"Agent Balance\" as on 31 December 2022 was
(Continuation news of FEDERALINS): Note # 20.02 Advance Against Others: The \"Agent Balance\" as on 31 December 2022 was Taka 118,123,240. The \"Collection Control Account\" balance as on 31 December 2022 was Taka 18,739,571. The \"Advance Against Claim Payment: Misc.\" balance as on 31 December 2022 was Taka 5,859,500. Note # 20.03 Deposit & Prepayments: The total Prepaid expenses as on 31 December 2022 was Taka 77,013,409. (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of FEDERALINS): Deposit and Prepayments consists of long aged advances amounting Tk. 77,013,409 which
(Continuation news of FEDERALINS): Deposit and Prepayments consists of long aged advances amounting Tk. 77,013,409 which is doubtful of recovery. The company made loss allowance for this expected credit losses of Tk. 1,000,000 and balance of this expected credit loss Tk. 76,013,409. The company will make the loss for this expected credit loss within (5) five years commencing from 2023. (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of FEDERALINS): Note # 17.00 Deferred tax assets: The closing balance of Deferred tax assets as on 31
(Continuation news of FEDERALINS): Note # 17.00 Deferred tax assets: The closing balance of Deferred tax assets as on 31 December 2022 was Taka 3,284,238. The management of the company intended to consider deferred tax. In different years litigation is pending in different stages for dispute with National Board of Revenue (NBR) regarding computation of tax liability and tax base assets value. (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of FEDERALINS): As a result the company unable to determine the actual tax base carrying amount of fi
(Continuation news of FEDERALINS): As a result the company unable to determine the actual tax base carrying amount of fixed assets. So the company calculated deferred tax based on the previous tax base carrying amount and considering depreciation rate as per 3rd Schedule of ITO 1984. Note # 11.02.01 Provision for Taxation: The closing balance of Provision for Taxation as on 31 December 2022 was Taka 229,156,260. (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of FEDERALINS): The tax provision represents provision kept by the company in different years. In tho
(Continuation news of FEDERALINS): The tax provision represents provision kept by the company in different years. In those years litigation is pending in different stages for dispute with National Board of Revenue(NBR) regarding computation of tax liability. The management believe that the verdict of those litigation will be favorable of the company, as a result no further provision is required.\" (end)
The first part of this announcement is missing from the archive. - Q1 Financials
(Q1 Un-audited): EPS was Tk. 0.35 for January-March 2023 as against Tk. 0.32 for January-March 2022. NOCFPS was Tk. 0.18 for January-March 2023 as against Tk. 0.30 for January-March 2022. NAV per share was Tk. 13.32 as on March 31, 2023 and Tk. 12.97 as on December 31, 2022.
- Dividend Declaration
The Board of Directors has recommended 10% Cash Dividend for the year ended December 31, 2022. Date of AGM: 27.07.2023, Time: 11:00 AM, Venue: Digital Platform. Record Date: 31.05.2023. The Company has also reported EPS of Tk. 1.03, NAV per share of Tk. 12.97 and NOCFPS of Tk. 0.84 for the year ended December 31, 2022 as against Tk. 1.36, Tk. 12.93 and Tk. 2.71 respectively for the year ended December 31, 2021.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (30.04.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- 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 29, 2023 at 2:30 PM to consider, among others, un-audited financial statements of the company for the First Quarter (Q1) period ended March 31, 2023.
- 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 April 29, 2023 at 2:30 PM to consider, among others, audited financial statements of the company for the year ended December 31, 2022.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.