Matin Spinning Mills PLC announcements
196 Dhaka Stock Exchange announcements for Matin Spinning Mills PLC (MATINSPINN) since 2014: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2018 (17).
- Emphasis of Matters (Revised)
(Revised Emphasis of Matters): The auditor of the company has given the following "Emphasis of Matters" paragraph in the audit report of the company prepared for the year ended on 30 June 2018. Emphasis of Matters: Without qualifying our opinion, we draw our attention to the note #3.07 to the financial statements wherein the company disclosed the methods of charging depreciation on Property, Plant and Equipment. 3.07 Property, plant and equipment. A. Recognition and Measurement: (cont. 1) (Continuation news of MATINSPINN): of depreciation. However, para-62 specifies three methods of which diminishing balance has been used by the company consistently considering reducing future economic benefit of the assets. C. Impairment: If the recoverable amount of an asset is less than its carrying amount, the carrying amount of the asset should be reduced to its recoverable amount. That reduction is an impairment loss. An impairment loss is recognized as an expense in the income statement. (end) (Continuation news of MATINSPINN): difference between the sale proceeds and the carrying amount of the asset and is recognized in the income statement. Itemized depreciation rates are as follows: Land and land development (Nil), Factory building 5%, Godown 10%, Plant and machinery 10%, Furniture and fixtures 10%, Sub Station (Machinery) 15%, Gas Generator 15%, Office equipment 15%, Electric installation 15% and Vehicles 20%. Para-60 of BAS - 16 does not specify any specific method of calculation (cont. 4) (Continuation news of MATINSPINN): B. Depreciation: Depreciation is calculated and charged under diminishing balance method on all fixed assets other than land and land development. Depreciation on current year's addition is charged on day basis as and when the assets are ready for operation. The costs of the day-to-day servicing of Property, Plant and Equipment are recognized in the income statement as incurred. The gain or loss arising on the disposal of an asset is determined as (cont. 3) (Continuation news of MATINSPINN): The cost of an item of property, plant and equipment shall be recognized as an asset if and only if it is probable that the future economic benefit associated with the item will flow to the entity, and the cost of the item can be measured reliably. Fixed assets have been accounted for at cost less accumulated depreciation. Cost includes expenditure that is directly attributable to the acquisition of the items. (cont. 2)
- Emphasis of Matters
(Emphasis of Matters): The auditor of the company has given the following "Emphasis of Matters" paragraph in the audit report of the company prepared for the year ended on 30 June 2018. Emphasis of Matters: Without qualifying our opinion, we draw our attention to the note #3.07 to the financial statements wherein the company disclosed the methods of charging depreciation on Property, Plant and Equipment.
- Resumption after record date
Trading of the shares of the Company will resume on 02.12.2018 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 29.11.2018.
- 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 with cum benefit from 27.11.2018 to 28.11.2018. Trading of the shares of the Company will remain suspended on record date i.e., 29.11.2018.
- Dividend Declaration
The Board of Directors has recommended 17% cash dividend for the year ended on June 30, 2018. Date of AGM: 13.12.2018, Time: 11:00 AM, Venue: Factory Premises of Matin Spinning Mills Ltd. at Sardaganj, Kashimpur, Gazipur. Record date: 29.11.2018. The Company has also reported EPS of Tk. 3.10, NAV per share with revaluation reserve of Tk. 43.63, and NOCFPS of Tk. 5.64 for the year ended on June 30, 2018 as against Tk. 2.68, Tk. 41.99 and Tk. 2.50 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 (05.11.2018) following its corporate declaration.
- Q1 Financials
(Q1 Un-audited): EPS was Tk. 0.59 for July-September 2018 as against Tk. 0.54 for July-September 2017; NOCFPS was Tk. 1.22 for July-September 2018 as against Tk. (1.17) for July-September 2017. NAV per share (with Revaluation reserves) was Tk. 44.19 as on September 30, 2018 and Tk. 43.63 as on June 30, 2018.
- Decision to purchase Gas Generators
The Company has informed that the Board of Directors has approved purchase of 03 (three) Gas Generators for increasing captive power generation using the expected additional supply of Gas for saving over existing power cost. Total cost of Generators and installation cost is estimated at Tk. 23,15,40,000.00. After installation of the new Generators, the company is expected to save Tk. 7.50 crore (approx.) per year.
- 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 November 04, 2018 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended on June 30, 2018.
- 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 04, 2018 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on September 30, 2018.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 0.95 for January-March 2018 as against Tk. 0.64 for January-March 2017; EPS was Tk. 2.40 for July 2017-March 2018 as against Tk. 1.56 for July 2016-March 2017. NOCFPS was Tk. 6.49 for July 2017-March 2018 as against Tk. 0.85 for July 2016-March 2017. NAV per share (with revaluation reserve) was Tk. 42.89 as on March 31, 2018 and Tk. 41.99 as on June 30, 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 April 25, 2018 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, 2018.
- Dividend Disbursement
The Company has informed that it has disbursed the Cash dividend for the year ended on June 30, 2017 to the respective shareholders.
- Q2 Financials
(Q2 Un-audited): EPS was Tk. 0.90 for October-December, 2017 as against Tk. 0.48 for October-December, 2016; EPS was Tk. 1.44 for July-December, 2017 as against Tk. 0.92 for July-December, 2016. NOCFPS was Tk. 7.51 for July-December, 2017 as against Tk. (0.57) for July-December, 2016. NAV per share (with Revaluation reserves) was Tk. 43.43 as on December 31, 2017 and Tk. 41.99 as on June 30, 2017.
- Emphasis of Matter
The auditor of the company has given the following "Emphasis of Matter" Paragraphs in the audit report of the company for the year ended on 30 June 2017. Emphasis of Matter: Without qualifying our opinion, we draw attention to Note # 3.07 (b) to the financial statements wherein the company discloses its policy relating to (cont.) (Continuation news of MATINSPINN): depreciation of property, plant & equipment. The method of calculation of depreciation stated therein and the consequential depreciation rates on Factory Building, Godown, Furniture & Office Equipment are not in compliance with Para-60 of Bangladesh Accounting Standard (BAS)-16. (end)
- 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 27, 2018 at 2:30 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended on December 31, 2017.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.