Khulna Printing & Packaging Ltd. announcements
266 Dhaka Stock Exchange announcements for Khulna Printing & Packaging Ltd. (KPPL) since 2014: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2017 (17).
- Resumption after record date
Trading of the shares of the Company will resume on 26.11.2017 after record date.
- Suspension for record date
Trading of the shares of the Company will remain suspended on record date i.e., 23.11.2017.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. (0.34) for July-September, 2017 as against Tk. (0.06) for July-September, 2016; NOCFPS was Tk. (0.001) for July-September, 2017 as against Tk. 0.15 for July-September, 2016. NAV per share was Tk. 15.56 as on September 30, 2017 and Tk. 17.05 as on September 30, 2016.
- Spot News
Trading of the shares of the Company will be allowed only in the Spot Market and Block transactions will also be settled as per Spot settlement cycle from 12.11.2017 to 22.11.2017. Trading of the shares of the Company will remain suspended on record date i.e., 23.11.2017.
- 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, 2017 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2017.
- Dividend Declaration
The Board of Directors has recommended No dividend for the year ended on June 30, 2017. Date of AGM: 31.12.2017, Time: 10:00 AM, Venue: Corporate Office: Khulna Mongla Road, Katakhali, Shambagath, Lockpur, Fakhirhat, Bagerhat. Record Date: 23.11.2017. The Company has also reported EPS of Tk. (1.22), NAV per share of Tk. 15.89 and NOCFPS of Tk. 0.15 for the year ended on June 30, 2017 as against Tk. 0.33, Tk. 17.12 and Tk. (1.62) respectively for the same period of the previous year.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (30.10.2017) following its corporate declaration.
- 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 29, 2017 at 4:30 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2017.
- 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.
- Enquiry Committee formed by BSEC
BSEC NEWS: Bangladesh Securities and Exchange Commission (BSEC) has formed an enquiry committee to investigate into unusual movement of price and volume of shares of Khulna Printing & Packaging Limited in the Stock Exchanges (BSEC Order No. BSEC/Surveillance/2017-0895/813 dated July 24, 2017).
- Query Response
In response to a DSE query dated June 21, 2017, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. (0.17) for January-March, 2017 as against Tk. 0.08 for January-March, 2016; EPS was Tk. (0.27) for July, 2016-March, 2017 as against Tk. 0.30 for July, 2015-March, 2016. NOCFPS was Tk. 0.14 for July, 2016-March, 2017 as against Tk. (1.52) for July, 2015-March, 2016. NAV per share was Tk. 16.85 as of March 31, 2017 and Tk. 17.12 as of June 30, 2016.
- 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, 2017 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended on March 31, 2017.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. (0.02) for October-December, 2016 as against Tk. 0.07 for October-December, 2015; EPS was Tk. (0.10) for July-December, 2016 as against Tk. 0.22 for July-December, 2015. NOCFPS was Tk. 0.10 for July-December, 2016 as against Tk. (0.88) for July-December, 2015. NAV per share with revaluation surplus was Tk. 17.01 as of Dec. 31, 2016 and Tk. 17.12 as of June 30, 2016. NAV per share without revaluation surplus was Tk. 14.94 as of Dec. 31, 2016 and Tk. 15.01 as of June 30,2016.
- 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 31, 2017 at 3:30 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2016.
- Letter from NBR concerning KPPL's statement on status of their production
With reference to their earlier news disseminated on 03.01.2017 with regard to "Decision to stop production temporally", National Board of Revenue (NBR) has informed that the news provided by the Company was not true. Justifications provided by NBR are as follows: It is to be mentioned that Khulna Printing & Packaging Limited is a company with high degree of tax evasion. Based on a complaint against this Company for evading tax of Tk. 271,72,44,100 which was placed to full bench of the Appellate Division of the Supreme Court of Bangladesh led by the Chief Justice, the Appellate Division directed NBR to collect Tk. 271,72,44,100 as tax from the company which they have evaded.NBR, upon receiving order from the Honorable Court to collect the evaded amount of tax from Khulna Printing & Packaging Limited, instructed the Customs Bond Commissionerate, Dhaka to take appropriate legal measures regarding this matter. Accordingly, after following all necessary legal procedures in relation to case of tax evasion by the Khulna Printing & Packaging Limited, the Customs Bond Commissionerate, Dhaka has issued an Order directing the Company to deposit a total of Tk. 371,72,44,100 (including Tk. 100.00 Crore as fine imposed on them for evading tax) to Govt. treasury. Khulna Printing & Packaging Limited has made an Appeal Application before Customs, Excise and VAT Appellate Tribunal, Dhaka against the Order made by the Customs Bond Commissionerate, which is still pending (sub-judice).It is also mentionable that this is one of the largest tax evasions in the recent periods that has come in the observation of NBR. It is also noted that the company mentioned in the 2nd and 3rd paragraph of their letter sent to BSEC that despite having Order of the Hob'ble High Court Division of the Supreme Court of Bangladesh, NBR and customs authority did not renew the license of the Company which caused the imported raw materials of the company to be locked and unreleased and that's why the Company had to stop its production for shortage of raw materials. However, the statement of the Company is prevaricated and complete misrepresentation of the Order made by the highest bench of the Appellate Division of the Supreme Court of Bangladesh.The highest bench of the Appellate Division of the Supreme Court of Bangladesh led by the Chief Justice had instructed NBR on 01.11.2015 to take necessary legal actions to collect the evaded tax of Tk. 271,72,44,100 from Khulna Printing & Packaging Limited.
- Decision to stop production temporally
The Company has informed that the Board of Directors in its meeting held on 02.01.2017 decided to stop production temporarily until the situation improves. The company mentioned the reasons as follows: "Due to non co-operation of NBR and suspension of bond license and Bin Lock by Customs authority (by a decision dated 26.08.2015), the company challenged the same with a prayer for release the raw materials of the company lying in the Chittagong Port before Hon'ble High Court Division (by filing a writ petition No. 11277 of 2015) and the High Court Division (by a Judgment and order dated 27.01.2016) declared that the said decision of the customs authority is illegal and without lawful authority and also directed the customs authority to released the imported goods (approximate value of Tk. 24.00 crore) and the raw materials in stock in the Bond warehouse (amounting To Tk. 53.00 crore). The mentioned entire raw materials are losing its quality gradually. The customs authority against the dated Judgment and Order dated 27.01.2016 moved before the appellate division of the Supreme Court by filling a civil petition for leave to appeal no. 660 of 2016 and the appellate division by a Judgment and order dated 24.07.2016 affirmed the order of the High Court Division. In spite of order of the High Court Division as well as appellate Division and the decision of the office of the Hon'ble Prime Minister, the NBR & Customs authority neither releases the goods nor renews the Bond license and the company incurred huge financial losses due to non co-operation & disobey the order of the court by NBR and Customs. In view of the above situation, the company has no other alternative way but to temporarily stop the production due to shortage of raw materials and the reasons mentioned above".
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.