Khulna Power Company Ltd. announcements
314 Dhaka Stock Exchange announcements for Khulna Power Company Ltd. (KPCL) since 2010: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2014 (24).
- Credit Rating
Credit Rating Information and Services Limited (CRISL) has rated the Company as "AA" in the long term and "ST-1" in the short term in consideration of audited financials of the Company up to December 31, 2013, unaudited financials up to September 30, 2014 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
- trade resume
Normal trading of the shares of the Company will resume on 25.11.2014 for EGM.
- trade suspension
Trading of the shares of the Company will remain suspended on record date i.e., 24.11.2014 for EGM.
- Spot Market and Block/Odd lot transactions
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 20.11.2014 to 23.11.2014. Trading of the shares of the Company will remain suspended on record date i.e., 24.11.2014 for EGM. <div id="__if72ru4sdfsdfruh7fewui_once" style="display:none;"></div> <div id="__hggasdgjhsagd_once" style="display:none;"></div>
- (news disseminated by DSE on November 05, 2014
With reference to the Company's earlier news (news disseminated by DSE on November 05, 2014) the company has further informed that the Board of Directors has decided to hold an EGM on December 17, 2014 at 11:00 AM at Trust Milonayaton, 545 Old Airport Road, Dhaka Cantonment, Dhaka to pass the following resolution as special resolution with such modification, if any, as the EGM may decide: "Resolved that Draft Scheme of Amalgamation of Khanjahan Ali Power Company Ltd. & Khulna Power Company Unit II Ltd. (Transferor Companies) with Khulna Power Company Ltd. (Transferee Company) be and is hereby approved and subject to sanction of the Scheme by the Hon'ble High Court Division of the Supreme Court of Bangladesh in accordance with the provisions of Section 228 and 229 of the Companies Act, 1994 and approval of the same Scheme by the Members of Khanjahan Ali Power Company Ltd. and Khulna Power Company Unit II Ltd. in the similar manner, let Khanjahan Ali Power Company Ltd. and Khulna Power Company Unit II Ltd. be amalgamated with Khulna Power Company Ltd. in terms of the Scheme. Record date for EGM: 24.11.2014.
- Directors' Decisions
The Company has informed that the Board of Directors has decided the following: (i) subject to compliance with prescribed procedure under the Companies Act, 1994 amalgamation of the subsidiary companies of the Company namely Khulna Power Company Unit II Ltd. and Khanjahan Ali Power Company Ltd. (the "Transferor Companies"), with the Company, has been approved. This amalgamation of the Transferor Companies with the Company will boost the Company to grow its business and better utilize its assets and thereby maximizing profits and (ii) To approve the above matters by the Hon'ble High Court Division, an application will be filed in due course under section 228 and 229 of the Companies Act, 1994 and an EGM of shareholders will be held under the supervision of the Hon'ble Court.
- Q3 earnings
(Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2014 (July'14 to Sep'14), the Company has reported consolidated net profit after tax (excluding non-controlling interests) of Tk. 563.83 million with consolidated EPS of Tk. 1.56 as against Tk. 445.46 million and Tk. 1.23 respectively for the same period of the previous year. Whereas consolidated net profit after tax (excluding non-controlling interests) was Tk. 1,722.63 million with consolidated EPS of Tk. 4.77 for the period of nine months (Jan'14 to Sep'14) ended on 30.09.2014 as against Tk. 1,519.59 million and Tk. 4.21 respectively for the same period of the previous year.
- CSE query
In response to a CSE query, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike. <div id="__if72ru4sdfsdfruh7fewui_once" style="display:none;"></div> <div id="__hggasdgjhsagd_once" style="display:none;"></div>
- H/Y Earnings
(H/Y): As per un-audited half yearly accounts as on 30.06.2014 (Jan'14 to June'14), the Company has reported consolidated profit after tax (excluding non-controlling interests) of Tk. 1,158.80 million with consolidated EPS of Tk. 3.21 as against Tk. 1,074.13 million and Tk. 2.97 respectively for the same period of the previous year. Whereas consolidated profit after tax (excluding non-controlling interests) was Tk. 467.92 million with consolidated EPS of Tk. 1.30 for the period of 3 months (Apr'14 to June'14) ended on 30.06.2014 as against Tk. 490.41 million and Tk. 1.36 respectively for the same period of the previous year.
- credited the bonus shares
The Company has informed that it has credited the bonus shares for the year ended on December 31, 2013 to the respective shareholders' BO Accounts on June 23, 2014. The Company has also informed that the cash dividend including the payment of sale proceeds of fractional shares will be disbursed to the respective bank account of the shareholders and whose bank accounts are not found, dividend warrants will be issued and dispatched to the registered address of the shareholders through courier within stipulated time.
- Q1 Earnings
As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2014 (Jan'14 to March'14), the Company has reported consolidated net profit after tax (excluding non-controlling interest) of Tk. 690.88 million with consolidated basic EPS of Tk. 2.01 as against Tk. 583.72 million and Tk. 1.70 respectively for the same period of the previous year. However, considering proposed bonus share @ 5% for the year 2013, consolidated restated basic EPS will be Tk. 1.91 as on 31.03.2014 and Tk. 1.62 as on 31.03.2013.
- (Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2014 (Jan'14 to March'14), the Compan
(Q1): As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2014 (Jan'14 to March'14), the Company has reported consolidated net profit after tax (excluding non-controlling interest) of Tk. 690.88 million with consolidated basic EPS of Tk. 2.01 as against Tk. 583.72 million and Tk. 1.70 respectively for the same period of the previous year. However, considering proposed bonus share @ 5% for the year 2013, consolidated restated basic EPS will be Tk. 1.91 as on 31.03.2014 and Tk. 1.62 as on 31.03.2013.
- Qualified Opinion
The auditor of the company has given the following qualified opinion paragraph in the audit report of the company for the year ended on 31 December 2013: Basis of qualified opinion: Khulna Power Company Unit II has adjusted all exchange differences shown in Note 2.1 arising on outstanding foreign currency loans against the property, plant and equipment for which such foreign currency borrowing took place in accordance with Schedule XI of the Companies Act 1994. This treatment is not in accordance with BAS 21: The Effects of Changes in Foreign Exchange Rates, which requires all exchange differences arising from foreign exchange transactions to be recognised in the statement of comprehensive income. Had BAS 21 been followed, the profit for the year would have increased by Tk. 84,420,821. Emphasis of Matters Without further qualifying our opinion, we draw attention to the following as matters of emphasis: (i) We draw attention to Note 2.7 to the financial statements where management explains how they will continue in operational existence for the foreseeable future of Khanjahan Ali Power Company Limited in spite of having net current liabilities as at the balance sheet date. (ii) We draw attention to note 7.3 to the financial statements where management explains in Khulna Power Company Unit II why BPDB's deductions of Tk. 206,918,350 due to liquidated damages have not been provided for in these statements. Note 2.7 "Going concern assumption" The financial statements of the company/the group have been prepared on going concern basis. In spite of the net current liabilities amounting Tk. 200,359,680 of Khanjahan Ali Power Company Limited, a subsidiary of the company, is a going concern as the directors believe to be appropriate for the following reason. This subsidiary company for its working capital on fund provided to it by Khulna Power Company Limited has indicated that for at least 12 months from the date of approval of the financial statements will continue to make available required fund needed for Khanjahan Ali Power Company Limited will not seek repayment of the same till the date its cash flow permit such repayment. The directors consider that this should enable Khanjahan Ali Power Company Limited to continue in operational existence for the foreseeable future. Note 7.3 states that Included in consolidation accounts receivable of Khulna Power Company Unit II Limited Tk. 206,918,350 as deduction for liquidated damage for the year 2011. These amounts under references have been deducted by BPDB from the monthly invoices of this company. The company is in discussion with BPDB to realize the same and strongly feels that these amounts are recoverable.
- (Qualified Opinion): The auditor of the company has given the following qualified opinion paragraph in the audit report
(Qualified Opinion): The auditor of the company has given the following qualified opinion paragraph in the audit report of the company for the year ended on 31 December 2013: Basis of qualified opinion: Khulna Power Company Unit II has adjusted all exchange differences shown in Note 2.1 arising on outstanding foreign currency loans against the property, plant and equipment for which such foreign currency borrowing took place in accordance with Schedule XI of the Companies Act 1994. This treatment is not in accordance with BAS 21: The Effects of Changes in Foreign Exchange Rates, which requires all exchange differences arising from foreign exchange transactions to be recognised in the statement of comprehensive income. (cont.-1)
- (continuation of news of KPCL): Had BAS 21 been followed, the profit for the year would have increased by Tk. 84,420,821
(continuation of news of KPCL): Had BAS 21 been followed, the profit for the year would have increased by Tk. 84,420,821. Emphasis of Matters Without further qualifying our opinion, we draw attention to the following as matters of emphasis:(i) We draw attention to Note 2.7 to the financial statements where management explains how they will continue in operational existence for the foreseeable future of Khanjahan Ali Power Company Limited in spite of having net current liabilities as at the balance sheet date.(ii) We draw attention to note 7.3 to the financial statements where management explains in Khulna Power Company Unit II why BPDB's deductions of Tk. 206,918,350 due to liquidated damages have not been provided for in these statements. (cont.-2)
The first part of this announcement is missing from the archive. - (continuation of news of KPCL): Note 2.7 "Going concern assumption" The financial statements of the company/the group ha
(continuation of news of KPCL): Note 2.7 "Going concern assumption" The financial statements of the company/the group have been prepared on going concern basis. In spite of the net current liabilities amounting Tk. 200,359,680 of Khanjahan Ali Power Company Limited, a subsidiary of the company, is a going concern as the directors believe to be appropriate for the following reason. This subsidiary company for its working capital on fund provided to it by Khulna Power Company Limited has indicated that for at least 12 months from the date of approval of the financial statements will continue to make available required fund needed for Khanjahan Ali Power Company Limited will not seek repayment of the same till the date its cash flow permit such repayment. (cont.-3)
The first part of this announcement is missing from the archive. - (continuation of news of KPCL): The directors consider that this should enable Khanjahan Ali Power Company Limited to co
(continuation of news of KPCL): The directors consider that this should enable Khanjahan Ali Power Company Limited to continue in operational existence for the foreseeable future.Note 7.3 states that Included in consolidation accounts receivable of Khulna Power Company Unit II Limited Tk. 206,918,350 as deduction for liquidated damage for the year 2011. These amounts under references have been deducted by BPDB from the monthly invoices of this company. The company is in discussion with BPDB to realize the same and strongly feels that these amounts are recoverable.(end)
The first part of this announcement is missing from the archive. - Normal trading of the shares of the Company will resume on 15.05.2014 after record date.
Normal trading of the shares of the Company will resume on 15.05.2014 after record date.
- Trading of the shares of the Company will remain suspended on record date i.e., 14.05.2014.
Trading of the shares of the Company will remain suspended on record date i.e., 14.05.2014.
- Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be
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 with cum benefit from 11.05.2014 to 12.05.2014. Trading of the shares of the Company will remain suspended on record date i.e., 14.05.2014.
- The Board of Directors has recommended 25% cash dividend and 5% stock dividend for the year ended on December 31, 2013.
The Board of Directors has recommended 25% cash dividend and 5% stock dividend for the year ended on December 31, 2013. Date of AGM: 18.06.2014, Time: 11:00 AM, Venue: Bashundhara Convention Center, Block-C, Umme Kulsum Road, Bashundhara R/A, Baridhara, Dhaka-1229. Record Date: 14.05.2014. The Company has also reported EPS of Tk. 5.62, NAV per share of Tk. 20.37 and NOCFPS of Tk. 5.82 for the year ended on December 31, 2013.
- There will be no price limit on the trading of the shares of the Company today (30.04.2014) following its corporate decl
There will be no price limit on the trading of the shares of the Company today (30.04.2014) following its corporate declaration.
- As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will
As per Regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of the Board of Directors will be held on April 29, 2014 at 6:00 PM to consider, among others, audited financial statements of the Company for the year ended on December 31, 2013.
- The Company has informed that the Government of Bangladesh (GOB) has approved the extension of the contract period of th
The Company has informed that the Government of Bangladesh (GOB) has approved the extension of the contract period of the Power Purchase Agreement (PPA) signed between Bangladesh Power Development Board (BPDB) and Khulna Power Company Ltd. (KPCL), 110 MW Barge Mounted Power Plant for another 5 years with effect from 12th October 2013.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.