Jute Spinners Limited announcements
281 Dhaka Stock Exchange announcements for Jute Spinners Limited (JUTESPINN) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2014 (12).
- company news
The Company has informed that the Board of Directors of the Company has taken the following decision: The Mill will set up a sacking unit with 50 Looms and ancillary machines by investing an estimated amount of Tk. 2.00 crore as soon as possible as a step to overcome the rough situation.
- audit report
"Howlader Yunus & Co", Auditor of the company has given the following qualified opinion in the audit report of the company for the year ended on 30 June 2014: Basis for Qualified Opinion 1.During the year the Company has recorded Revenues at the rate prevailing at realization date. As a result, exchange differences have not been separately disclosed by the company. This constitutes a departure from paragraph 21 of BAS 21 "The Effects of Changes in Foreign Exchange Rates" and Paragraph 97 of BAS 1 "Presentation of Financial Statements". Consequently, the aggregate effects of the foreign currency gain or loss have not been determined.According to paragraph 21 of BAS 21: "A foreign currency transaction shall be recorded,on initial recognition in the functional currency, by applying to the foreign currency amount the spot exchange rate between the functional currency and foreign currency at the date of the transaction". According to Paragraph 97 of BAS 1: "When items of income or expense are material, an entity shall disclose their nature and amount separately." 2.As on June 30, 2014 the closing balance of WPP & WF represents an amount of BDT 13,744,387/-. During the year the company transferred an amount of BDT 36,633,694/- from WPP & WF to Gratuity Payable. As a result, as on June 30, 2014 the Deferred Liability is understated by BDT 36,633,694/-3.During the year the Company's Operating Expenses include Gratuity Expenses for an amount of BDT 8,229,316.00. This Balance includes the deficit amount of provision which was required to be maintained as per last year calculation. Previous Auditor has identified the issue and modified their opinion in this regard. However management has not account for the deficit amount in compliance with Bangladesh Accounting Standards, which triggers a departure from Paragraph 43 of BAS 8 "Accounting Policies, Changes in Accounting Estimates and Errors". The Company's records indicate that had management corrected this error retrospectively, operating expenses would have decreased. Accordingly net profit would have increased.4.During the year the Company incurred a Net Loss of BDT 74,182,221/- and the balance of cumulative loss and Share Capital are BDT 159,656,104/- and 17,000,000/- respectively, which indicates a negative position of Shareholder Equity. Despite of the above the Company's financial statements have been prepared on a going concern basis. In absence of any mitigating factors, the above situation indicates a material uncertainty which may cast a significant doubt on the Company's ability to continue as a going concern. 5.During the year the Directors of the Company took loan for various purposes throughout the year which are disclosed in note 5.01 under the head Advance, Deposit and Prepayments, in the Statement of Financial Position. However as on June 30, 2014, the loan of the Directors exceeds their shareholding position, which constitutes a departure from Section 103 of the Companies Act 1994.
- Trade Resume
Normal trading of the shares of the Company will resume on 20.11.2014 after record date. <div id="__if72ru4sdfsdfruh7fewui_once" style="display:none;"></div> <div id="__hggasdgjhsagd_once" style="display:none;"></div>
- Trade Suspended
Trading of the shares of the Company will remain suspended on record date i.e., 19.11.2014. <div id="__if72ru4sdfsdfruh7fewui_once" style="display:none;"></div> <div id="__hggasdgjhsagd_once" style="display:none;"></div>
- Q1 Earning
As per un-audited quarterly accounts for the 1st quarter ended on 30th September 2014 (July'14 to Sep'14), the Company has reported net profit/(loss) after tax of Tk. (18.08) million with EPS of Tk. (10.63) as against Tk. (18.86) million and Tk. (11.10) respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (177.74) million as on 30.09.2014 resulting total shareholders' equity stands at Tk. (160.74) million. <div id="__if72ru4sdfsdfruh7fewui_once" style="display:none;"></div> <div id="__hggasdgjhsagd_once" style="display:none;"></div>
- trade suspension
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 06.11.2014 to 18.11.2014. Trading of the shares of the Company will remain suspended on record date i.e., 19.11.2014.
- did not recommend any dividend
The Board of Directors did not recommend any dividend for the year ended on June 30, 2014. Date of AGM: 20.12.2014, Time: 10:00 AM, Venue: CIRDAP Auditorium, 17 Topkhana Road, Dhaka-1000. Record Date: 19.11.2014. The Company has also reported NAV of Tk. (142.66) million, EPS of Tk. (43.64) and NOCFPS of Tk. (29.72) for the year ended on June 30, 2014.
- meeting of the Board of Directors
As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will be held on October 28, 2014 at 3.00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2014. <div id="__if72ru4sdfsdfruh7fewui_once" style="display:none;"></div> <div id="__hggasdgjhsagd_once" style="display:none;"></div>
- DSE query
In response to a DSE query dated June 26, 2014, 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 31st March 2014 (Jan'14 to March'14), the Compan
(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 31st March 2014 (Jan'14 to March'14), the Company has reported net profit/(loss) after tax of Tk. (18.47) million with EPS of Tk. (10.86) as against Tk. (34.95) million and Tk. (20.56) respectively for the same period of the previous year. Whereas net profit/(loss) after tax was Tk. (55.85) million with EPS of Tk. (32.86) for the period of nine months (July'13 to March'14) ended on 31.03.2014 as against Tk. (46.53) million and Tk. (27.37) respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (140.68) million as on 31.03.2014 resulting total shareholders' equity stands at Tk. (123.68) million.
- H/Y Earnings
As per un-audited half yearly accounts as on 31.12.2013 (July'13 to Dec'13), the Company has reported net profit/(loss) after tax of Tk. (37.39) million with EPS of Tk. (21.99) as against Tk. (11.60) million and Tk. (6.82) respectively for the same period of the previous year. Whereas net profit/(loss) after tax was Tk. (18.61) million with EPS of Tk. (10.94) for the period of 3 months (Oct'13 to Dec'13) ended on 31.12.2013 as against Tk. (12.44) million and Tk. (7.32) respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (122.21) million as on 31.12.2013 resulting total shareholders' equity stands at Tk. (105.21) million.
- (H/Y): As per un-audited half yearly accounts as on 31.12.2013 (July'13 to Dec'13), the Company has reported net profit/
(H/Y): As per un-audited half yearly accounts as on 31.12.2013 (July'13 to Dec'13), the Company has reported net profit/(loss) after tax of Tk. (37.39) million with EPS of Tk. (21.99) as against Tk. (11.60) million and Tk. (6.82) respectively for the same period of the previous year. Whereas net profit/(loss) after tax was Tk. (18.61) million with EPS of Tk. (10.94) for the period of 3 months (Oct'13 to Dec'13) ended on 31.12.2013 as against Tk. (12.44) million and Tk. (7.32) respectively for the same period of the previous year. Accumulated profit/(loss) of the Company was Tk. (122.21) million as on 31.12.2013 resulting total shareholders' equity stands at Tk. (105.21) million.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.