Khan Brothers PP Woven Bag Industries Ltd announcements
187 Dhaka Stock Exchange announcements for Khan Brothers PP Woven Bag Industries Ltd (KBPPWBIL) since 2014: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2022 (36).
- The auditor of the Khan Brothers PP Woven Bag Industries Limited has given the \"Disclaimer of Opinion\" & \"Matter of E
The auditor of the Khan Brothers PP Woven Bag Industries Limited has given the \"Disclaimer of Opinion\" & \"Matter of Emphasis\" paragraph in the Auditor\'s Report for the year ended June 30, 2022. Basis for Disclaimer of Opinion: 1. The financial statement shows Inventories of Raw Materials Tk. 553,314,755, as shown in note # 5.00, which is being carried forward since last couple of years. Management of the company reasoned it as a consequence of cancellation of (cont.1)
- (Continuation news of KBPPWBIL): export orders from the buyers\' end due to the global business disruption created durin
(Continuation news of KBPPWBIL): export orders from the buyers\' end due to the global business disruption created during Covid-19 pandemic. Whereas we were not provided with satisfactory evidence and scope to verify and confirm the quantity and value of inventories shows in note # 21.06 due to the inadequate inventory recording system and disorganized inventory management system. We were also unable to obtain sufficient appropriate audit evidence in alternative (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): approach to satisfy ourselves to provide our opinion and conclude that there are no und
(Continuation news of KBPPWBIL): approach to satisfy ourselves to provide our opinion and conclude that there are no undetected material misstatements in the financial statement in this regard due to the scope limitation. 2. The financial statement includes Inventories of Finished Goods Tk. 44,145,422 as shown in note # 05 of which Tk. 26,220,200 has been carried forward from last year and Tk. 17,925,222 has been finished from Work in Progress during the year under audit, (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): which have been preserving by the company due to held up the shipment by buyers in cons
(Continuation news of KBPPWBIL): which have been preserving by the company due to held up the shipment by buyers in consequence of global business disruption due to Covid-19 pandemic, as stated by the management against which no provision for impairment loss have been recognized by the company. Whereas we were not provided with satisfactory evidence to assuring the shipment in future as well as to verify the inventories due to the inadequate inventory (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): lying with Peoples Leasing and Financial Services Ltd. since long in. The scam of that
(Continuation news of KBPPWBIL): lying with Peoples Leasing and Financial Services Ltd. since long in. The scam of that NBFI is widely known to all depositors and to the peoples in home and abroad, few months back it was circulated in the media that the liquidation proposal of Peoples Leasing and Financial Services Ltd. has approved by the Government. As such probability of realization of the amount is remote but no provision for Impairment loss of the (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): financial instrument have been recognized by the company as per IFRS-9. 4. The financia
(Continuation news of KBPPWBIL): financial instrument have been recognized by the company as per IFRS-9. 4. The financial statement shows Export Bills Receivable Tk. 62,212,203 as on 30 June 2022 in note # 06, which have been carried forward from last year, against which no provision for bad debts have been created in the financial statements. The management of the company elucidated that the proceeds have been retained by the buyers due to their business (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): loss in consequence of the business disruption for Covid-19 pandemic, but they are high
(Continuation news of KBPPWBIL): loss in consequence of the business disruption for Covid-19 pandemic, but they are highly expecting to realize that shortly. Whereas we were not produced with any satisfactory evidence to authenticate realization of the same and we were also unable to obtain sufficient appropriate audit evidence in alternative approach to satisfy ourselves to provide our opinion, (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): and conclude that there are no undetected material misstatements in the financial state
(Continuation news of KBPPWBIL): and conclude that there are no undetected material misstatements in the financial statement in this regard. 5. The financial statement shows turnover of 91,064,046 during the year whereas bank statement produced to us by the company shows deposits of Tk. 37,770,000 only in company\'s bank accounts during the year under audit. Moreover, we were not provided with satisfactory evidence to verify those transactions and (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): we were also unable to obtain sufficient appropriate audit evidence in alternative appr
(Continuation news of KBPPWBIL): we were also unable to obtain sufficient appropriate audit evidence in alternative approach to satisfy ourselves to provide our opinion, and conclude that there are no undetected material misstatements in the financial statement in this regard. Matter of Emphasis: 1. The financial statement shows turnover of Tk. 91,064,046 as local sell and Sub Contact Revenue during the year under audit but VAT returns have been submitted (cont.10)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): showing Zero value without paying any VAT for which we were not provided with any satis
(Continuation news of KBPPWBIL): showing Zero value without paying any VAT for which we were not provided with any satisfactory evidence to justify the reasons. This is simply a non-compliance of the VAT rules and aviation of VAT. 2. The financial statement shows Tk. 140,887,199 against value of 4.615 acres\' of factory land under Land and Development. During our visit to factory we observed that there is no separate periphery/demarcation of the factory (cont.11)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): premises of the company. We observed that three (3) factory namely i) Khan Brothers PP
(Continuation news of KBPPWBIL): premises of the company. We observed that three (3) factory namely i) Khan Brothers PP Woven Bag Industries Ltd., ii) Khan Brothers Bag Industries Ltd. And iii) Khan Brothers Marble & Granite Ltd are established within the common boundary. As such we were unable to confirm whether the physical possession of the said land is lying to the company or not. We were also not shown the original copies of the land ownership documents, (cont.12)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): charge document, khazna receipts etc to ensure complete ownership of the land. 3. To th
(Continuation news of KBPPWBIL): charge document, khazna receipts etc to ensure complete ownership of the land. 3. To the best of our understanding the company is running through subcontract works on cancellation of export orders. Recovery from the finished goods and raw materials as showing in the financial statements is looking very remote and insignificant. The company is suffering from severe working capital crisis which has laid down the company\'s (cont.13)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): dependency on the related party subcontract works. All those have ultimately created go
(Continuation news of KBPPWBIL): dependency on the related party subcontract works. All those have ultimately created going concern threats to the company though the financial statement of the company has prepared considering it as a going concern, but we were not provided with any written management plan to effectuate and ensuring this. (cont.14)
The first part of this announcement is missing from the archive. - (Continuation news of KBPPWBIL): Notwithstanding our opinion on the financial statements, we would recommend to set up p
(Continuation news of KBPPWBIL): Notwithstanding our opinion on the financial statements, we would recommend to set up proper management plan in this regard ensuring going concern of the entity.(end)
The first part of this announcement is missing from the archive. - Disclaimer of Opinion & Matter of Emphasis
(Continuation news of KBPPWBIL): recording system and disorganized inventory management system. We were also unable to obtain sufficient appropriate audit evidence in alternative approach to satisfy ourselves to provide our opinion, and conclude that there are no undetected material misstatements in the financial statement in this regard. 3. Cash and Cash Equivalent of the financial statement shows Fixed Deposits of Tk. 30,000,000 in Note # 08, (cont.5)
The first part of this announcement is missing from the archive. - Resumption after record date
Trading of the shares of the Company will resume on 01.12.2022 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2022.
- 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 from 28.11.2022 to 29.11.2022. Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2022.
- Revised NOCFPS for the year ended June 30, 2022
(Dividend Declaration): Refer to their earlier news disseminated by DSE on 13.11.2022 regarding Dividend Declaration, the Company has further informed that NOCFPS would be Tk. 0.50 instead of Tk. 0.57 for the year ended June 30, 2022. Other information of the earlier disclosure will remain unchanged.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. (0.01) for July-September 2022 as against Tk. (0.07) for July-September 2021; NOCFPS was Tk. 0.01 for July-September 2022 as against Tk. (0.08) for July-September 2021. NAV per share (including revaluation surplus) was Tk. 11.92 as on September 30, 2022 and Tk. 11.94 as on June 30, 2022.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (13.11.2022) following its corporate declaration. However, as per the BSEC Order No. BSEC/CMRRCD/2001-07/39 dated July 28, 2022, the floor price shall be applicable accordingly.
- Dividend Declaration
The Board of Directors has recommended total 2% cash dividend as final dividend for the year ended June 30, 2022 which has already been paid as interim dividend. Date of AGM: 22.12.2022, Time: 10:30 AM, Venue: Digital Platform. Record date: 30.11.2022. The Company has also reported EPS of Tk. (0.18) (Restated), NAV per share of Tk. 11.94 and NOCFPS of Tk. 0.57 for the year ended June 30, 2022 as against Tk. (0.15) (Restated), Tk. 12.26 and Tk. 0.40 respectively for the same period of the previous year.
- 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 13, 2022 at 3:00 PM to consider, among others, un-audited financial statements of the company for the First Quarter (Q1) period ended September 30, 2022.
- Reschedule of Board Meeting under LR 19(1)
The Company has further informed that, the Board meeting under LR 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, will be held on November 10, 2022 at 2:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
- Postponement of Board Meeting under LR 19(1)
The Company has further informed that, due to unavoidable circumstances, the Board meeting as per LR 19(1), scheduled to be held on October 27, 2022 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022, has been postponed. New date and time of the meeting will be notified later on.
- 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 October 27, 2022 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
- Interim Dividend Disbursement
The Company has informed that it has disbursed Interim Cash Dividend based on 6 months financials for the period ended December 31, 2021 to the respective shareholders.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. (0.04) for January-March 2022 as against Tk. (0.03) for January-March 2021; EPS was Tk. (0.16) for July 2021-March 2022 as against Tk. (0.12) for July 2020-March 2021. NOCFPS was Tk. 0.51 for July 2021-March 2022 as against Tk. 0.52 for July 2020-March 2021. NAV per share was Tk. 11.96 as on March 31, 2022 and Tk. 12.26 as on June 30, 2021.
- 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 27, 2022 at 2:15 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2022.
- Resumption after record date
Trading of the shares of the Company will resume on 27.02.2022 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 24.02.2022 for entitlement of interim dividend.
- Spot News
Trading of the shares of the company will be allowed only in the Spot Market and Block/Odd transaction will also be settled as per spot settlement cycle with cum benefit from 22.02.2022 to 23.02.2022 and trading of the shares will remain suspended on record date i.e, 24.02.2022 for entitlement of interim cash dividend.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. (0.05) for October-December 2021 as against Tk. (0.03) for October-December 2020; EPS was Tk. (0.12) for July-December 2021 as against Tk. (0.09) for July-December 2020. NOCFPS was Tk. (0.05) for July-December 2021 as against Tk. 0.07 for July-December 2020. NAV per share was Tk. 12.14 as on December 31, 2021 and Tk. 12.26 as on June 30, 2021.
- Interim Dividend Declaration
(Continuation news of KBPPWBIL): The Sponsors and Directors hold 2,95,49,807 shares out of total 9,80,79,877 shares of the Company and the cash dividend to be payable to the public shareholders is Tk. 13,706,014.00. Record date for entitlement of interim cash dividend: 24.02.2022. (end)
The first part of this announcement is missing from the archive. - Price Limit Open
There will be no price limit on the trading of the shares of the Company today (31.01.2022) following its corporate declaration.
- 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 January 30, 2022 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended December 31, 2021.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.