Islami Commercial Insurance PLC. announcements
81 Dhaka Stock Exchange announcements for Islami Commercial Insurance PLC. (ICICL) since 2022: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (21).
- Appointment of CEO (acting) and Company Secretary (acting)
The company has informed that the Board of Directors of the company has decided to appoint Mr. Md. Akhtaruzzaman, Company Secretary as acting Chief Executive Officer. In addition, Mr. A.B.M Fazla Mukith Khan, Head of Administration Department has been given the responsibility of Company Secretary as an additional responsibility in addition to his duties.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 0.18 for July-September 2023 as against Tk. 0.58 for July-September 2022; EPS was Tk. 0.69 for January-September 2023 as against Tk. 1.05 for January-September 2022. NOCFPS was Tk. 0.54 for January-September 2023 as against Tk. 1.63 for January-September 2022. NAV per share was Tk. 16.70 as on September 30, 2023 and Tk. 17.01 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 25, 2023 at 5:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended September 30, 2023.
- Category Change
The Company will be placed in 'A' category from existing 'N' category with effect from October 04, 2023 as the Company has reported disbursement of 10% Cash Dividend for the year ended December 31, 2022.
- 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. 0.27 for April-June 2023 as against Tk. 0.45 for April-June 2022; EPS was Tk. 0.51 for January-June 2023 as against Tk. 0.77 for January-June 2022. NOCFPS was Tk. 0.46 for January-June 2023 as against Tk. 1.24 for January-June 2022. NAV per share was Tk. 17.51 as on June 30, 2023 and Tk. 17.01 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 30, 2023 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended June 30, 2023.
- Resumption after record date
Trading of the shares of the company will resume on 24.07.2023.
- Suspension for Record date
Trading of the shares of the company will be suspended on record date i.e., 23.07.2023.
- 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 19.07.2023 to 20.07.2023, and trading of the shares will be suspended on record date i.e., 23.07.2023.
- Emerging Credit Rating Limited (ECRL) has assigned Surveillance rating of the Company as \"AA-\" in the long term and \"
Emerging Credit Rating Limited (ECRL) has assigned Surveillance rating of the Company as \"AA-\" in the long term and \"ST-2\" in the short term along with Stable outlook based on the audited financial statements up to December 31, 2022 and other available information up to the date of rating declaration.
- The auditor of Islami Commercial Insurance Company Limited has given the \"Emphasis of Matter\" paragraphs in the Audito
The auditor of Islami Commercial Insurance Company Limited has given the \"Emphasis of Matter\" paragraphs in the Auditor\'s Report for the year ended December 31, 2022. \"Emphasis of Matter: 1. As disclosed to the financial statement, initial application of IFRS-16 leases which came into effect from 1st January 2019 was not complied by the company. IFRS-16 introduce new or amended requirement with respect to lease accounting. (cont.1)
- (Continuation news of ICICL): It introduces significant change to lessee accounting by removing the distinction between
(Continuation news of ICICL): It introduces significant change to lessee accounting by removing the distinction between operating and finance lease and requiring the recognition of a right-of-use asset and a lease liability at commencement for all leases, except for short-term leases and leases of low value assets. Considering the complexities of the said standards the company is updating their accounting policies and trying to implement the standard in the upcoming periods. (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of ICICL): 2. The Insurance Development and Regulatory Authority (IDRA) issued a SRO no. 280-Law/2018
(Continuation news of ICICL): 2. The Insurance Development and Regulatory Authority (IDRA) issued a SRO no. 280-Law/2018 dated 26 September, 2018 for good governance about Management expense. By the said SRO IDRA prescribed a limit of management expense. As disclosed in the Note # 21 the showed Management Expense amounting TK. 216,106,269.00. During the audit procedure, we found that the Management Expenses of the company Exceeds (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of ICICL): by Tk. 51,928,609.00 which is higher than the limit allowable as prescribed in SRO no. 280
(Continuation news of ICICL): by Tk. 51,928,609.00 which is higher than the limit allowable as prescribed in SRO no. 280-Law/2018 dated 26 September, 2018 of gross premium during the year. 3. As per our audit procedure we observed that, Islami Commercial Insurance Company Limited paid advances to their agents time to time. However they are trying to regularize this issue. Our opinion is not modified in these regards.\" (end)
The first part of this announcement is missing from the archive. - Dividend Declaration
The Board of Directors has recommended 10% Cash Dividend for the year ended December 31, 2022. Date of AGM: 23.08.2023, Time: 11:30 AM, Venue: Digital Platform. Record Date: 23.07.2023. The Company has also reported EPS of Tk. 1.03, NAV per share of Tk. 17.01 and NOCFPS of Tk. 1.55 for the year ended December 31, 2022 as against Tk. 1.82, Tk. 20.96 and Tk. 3.33 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 (15.06.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. 0.26 for January-March 2023 as against Tk. 0.34 for January-March 2022. NOCFPS was Tk. 0.18 for January-March 2023 as against Tk. 0.89 for January-March 2022. NAV per share was Tk. 17.26 as on March 31, 2023 and Tk. 21.30 as on March 31, 2022.
- 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 June 14, 2023 at 4:00 PM to consider, among others, audited financial statements of the company for the year ended 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 June 14, 2023 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended March 31, 2023.
- Query Response
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 and increase in volume of shares.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.