Toyo Knitex (CEPZ) Limited announcements
301 Dhaka Stock Exchange announcements for Toyo Knitex (CEPZ) Limited (MITHUNKNIT) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2022 (35).
- Resumption after record date
Trading of the shares of the Company will resume on 29.11.2022 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 28.11.2022.
- 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 23.11.2022 to 27.11.2022. Trading of the shares of the Company will remain suspended on record date i.e., 28.11.2022.
- The Board of Directors has recommended No Dividend for the year ended June 30, 2022. Date of AGM: 20.12.2022, Time: 03:0
The Board of Directors has recommended No Dividend for the year ended June 30, 2022. Date of AGM: 20.12.2022, Time: 03:00 PM, Venue: South Avenue Tower (6th Floor), House No. 50, Road No. 3, Gulshan Avenue, Gulshan-1, Dhaka-1212. Record Date: 28.11.2022. The company has noticed BSEC, DSE, CSE and shareholders regarding suspension of factory since September 20, 2019. Due to the suspension of factory operation, the EPS and NOCFPS were null. (cont.)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (08.11.2022) 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
(Continuation news of MITHUNKNIT): The company has also informed that it is not possible to disclose the NAV per share of the company before a final report of the enquiry committee formed by BSEC has been submitted. (end)
The first part of this announcement is missing from the archive. - 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 07, 2022 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
- Regarding present status of the Company
Refer to their earlier news disseminated by DSE on 18.11.2021 and 15.03.2022 regarding present status of the company in Chittagong EPZ and Material Uncertainty Related to Going Concern, the Company further informed that BEPZA had taken the factory possession from them on February 26, 2019 and they are not yet updated about any selling information of the Company.
- Q1 Financials
(Q1 Un-audited): The Company informed that due to suspension of factory operation, the Earning Per Share and Net Operating Cash Flow Per Share were nil. NAV per share was 3.18 as on June 30, 2021.
- Q2 Financials
(Q2 Un-audited): The Company informed that due to suspension of factory operation, the Earning Per Share and Net Operating Cash Flow Per Share were nil. NAV per share was 3.18 as on June 30, 2021.
- Q3 Financials
(Q3 Un-audited): The Company informed that due to suspension of factory operation, the Earning Per Share and Net Operating Cash Flow Per Share were nil. NAV per share was 3.18 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 May 30, 2022 at 03:00 PM, 4:00 PM and 5:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended September 30, 2021; Second Quarter (Q2) period ended December 31, 2021 and Third Quarter (Q3) period ended March 31, 2022 respectively.
- The auditor of the Mithun Knitting and Dyeing Ltd. has given the \"Qualified Opinion\" & \"Emphasis of Matter\" paragrap
The auditor of the Mithun Knitting and Dyeing Ltd. has given the \"Qualified Opinion\" & \"Emphasis of Matter\" paragraphs in the Auditor\'s Report on the consolidated financial statements for the year ended 30 June, 2021. Basis for Qualified Opinion: We refer to the separate audit reports of two subsidiaries Pure Cotton Knitwears Limited & Toyo Composite Knit Garments Limited for the year ended 30 June, 2021 where material misstatements regarding advance, deposits and prepayments has been reported. (cont.1)
- (Continuation news of MITHUNKNIT): This event have material effect on the consolidated financial statements of Toyo Knit
(Continuation news of MITHUNKNIT): This event have material effect on the consolidated financial statements of Toyo Knitex (CEPZ) Limited. We refer to note no: 1.4 (f) regarding the compliance with regulations and Acts. The company is a listed entity and must comply with listing regulations of both Dhaka & Chittagong stock exchange. As per DSE & CSE listing regulation, delays in holding Annual General Meeting (AGM), Dispatching Annual Audited Accounts, (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): Half Yearly-Quarterly Accounts, Payment of Listing Fees are all subject to penalty. T
(Continuation news of MITHUNKNIT): Half Yearly-Quarterly Accounts, Payment of Listing Fees are all subject to penalty. The company did not disclose or provide for this non compliance. With reference to note no: 6 regarding the suspension of operation notice to Bangladesh Securities and Exchange Commission, the company did not made any public disclosure as per section 43(1) Immediate Public Disclosure of Material Information of chapter-XII of the Listing Regulation of CSF, Limited. (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): We refer to note no: 4(a) of the separate financial statements of Toyo Knitex (CEPZ)
(Continuation news of MITHUNKNIT): We refer to note no: 4(a) of the separate financial statements of Toyo Knitex (CEPZ) Limited regarding investment in subsidiary companies. The company discloses in note no: 2.2 & 2.8 that, it values investment in Fair Value. Despite of significant deviation of both subsidiary company\'s financial performance & position, the parent company did not account for any impaired value of the investment. (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): We further refer to note no: 33 of the consolidated financial statement regarding the
(Continuation news of MITHUNKNIT): We further refer to note no: 33 of the consolidated financial statement regarding the EPS of the company which is negative for both 2019 & 2020 Tk. (4.73) & Tk. (7.11) respectively. Consecutive operating loss of Tk. (152.29 m) in 2019 & Tk. (230.95 m) in 2020. The retained earnings of the company is also negative at an alarming rate in 2020. All these event & conditions cast significant doubt on the ability of the company to run as a going concern. (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): Adequate disclosure is not available throughout these financial statements. Emphasis
(Continuation news of MITHUNKNIT): Adequate disclosure is not available throughout these financial statements. Emphasis of matter: We draw attention to note no: 7 & note no: 8 regarding the claim of Chittagong Export Processing Zone (CEPZ) and the litigation event with Customs, Excise and VAT authority Chittagong. Our opinion is not modified in respect of these matter. (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): Note No. 1.4(f) Potential or Existing Government Regulations: The company operates un
(Continuation news of MITHUNKNIT): Note No. 1.4(f) Potential or Existing Government Regulations: The company operates under Companies Act 1994 and other related regulations, Income Tax Ordinance 1984, Income Tax rules 1984, Value Added Tax Act 1991, CSE & DSE Listing Regulation and Value Added Tax Rules 1991. Any Abrupt changes of the policies made by the regulatory authorities may adversely affect the business of the company. (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): The Annual General meeting is pending for the year 2019 & 2020. Income Tax return & V
(Continuation news of MITHUNKNIT): The Annual General meeting is pending for the year 2019 & 2020. Income Tax return & VAT return is pending due to suspension of operation. Management Perception: The company is planning to prepare the financial statements and comply with all pending regulatory requirements. Note No. 6.00 Event After Reporting date: Suspension of factory operation: (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): The Company through letter ref: MKDL/Share/2019-2248 dated 26 September, 2019 inform
(Continuation news of MITHUNKNIT): The Company through letter ref: MKDL/Share/2019-2248 dated 26 September, 2019 inform the Chairman of Bangladesh Securities and Exchange Commission (BSEC) regarding the suspension of factory operation since 20 September, 2019. The Board of Directors decided to inform all parties regarding the closure of operation in a meeting held on 26 September, 2019. (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): Note No. 4(a) INVESTMENT IN SUBSIDIARIES: Balance of 291,661 Ordinary Shares in MKDL
(Continuation news of MITHUNKNIT): Note No. 4(a) INVESTMENT IN SUBSIDIARIES: Balance of 291,661 Ordinary Shares in MKDL in an exchange ration of 1:1.2 of 349,994 shares of PCKL is BDT 29,166,100.00 as at 30 June 2021 and BDT 29,166,100.00 as at 30 June 2020. Balance of 374,997 Ordinary Shares in MKDL in an exchange ration of 1:2 of 349,994 shares of PCKL is BDT 37,499,700.00 as at 30 June 2021 and BDT 37,499,700.00 as at 30 June 2020. (cont.10)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): Note No. 7.00: CEPZ Claim: Chittagong Export Processing Zone (CEPZ) has informed the
(Continuation news of MITHUNKNIT): Note No. 7.00: CEPZ Claim: Chittagong Export Processing Zone (CEPZ) has informed the Company about their claim amounting USD. 1,214,219.31 (approx BDT. 102,000,000/-) on account of Lease Rentals, Workers Wages & other heads of CEPZ expenses. The letter reference was 03.06.2616.314.33.067.91-985 dated: 09 December, 2018, signed by Md. Ahsan Kabir (General Manager, Investment Promotion, CEPZ). (cont.11)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): CEPZ authority warned the management of the company regarding the early settlement of
(Continuation news of MITHUNKNIT): CEPZ authority warned the management of the company regarding the early settlement of due payment and the possibility of termination of the lease agreement in case of default. Chittagong Export Processing Zone (CEPZ) has further informed the Company about their claim which was increased to USD. 1,271,119.26 (approx BDT. 106,800,000/-) on account of Lease Rentals, Workers\' Wages & other heads of CEPZ expenses. (cont.12)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): The letter reference was 03.06.2616.314.33.067.91-165 dated: 26 February, 2019, signe
(Continuation news of MITHUNKNIT): The letter reference was 03.06.2616.314.33.067.91-165 dated: 26 February, 2019, signed by Md. Ahsan Kabir (General Manager, Investment Promotion, CEPZ). CEPZ cancel the lease agreement and ordered to handover the physical possession of the leased asset. Note No. 8.00 value Added Tax Authority Claim: (cont.13)
The first part of this announcement is missing from the archive. - Qualified Opinion & Emphasis of Matter.
(Continuation news of MITHUNKNIT): delays in holding Annual General Meeting (AGM), Dispatching Annual Audited Accounts, Half Yearly-Quarterly Accounts, Payment of Listing Fees are all subject to penalty. The company did not disclose or provide for this non compliance. With reference to note no:6 regarding the suspension of operation notice to Bangladesh Securities and Exchange Commission, the company did not make any public disclosure as per section 43(1) (cont.2)
The first part of this announcement is missing from the archive. - Material Uncertainty Related to Going Concern.
(Continuation news of MITHUNKNIT): Excise and VAT authority Chittagong, regarding non compliance of the company in deducting & depositing Vat Deducted at Source (VDS) to treasury amounting Tk.6,103,839/-. The company paid 10% of the claimed amount for filing appeal to Honorable Customs, Excise and VAT Tribunal, Dhaka. We also refer to note no: 06 regarding notice to Bangladesh Securities and Exchange Commission (BSEC) regarding the suspension of factory operation. (cont.2)
The first part of this announcement is missing from the archive. - Material Uncertainty Related to Going Concern
(Continuation news of MITHUNKNIT): Customs, Excise and VAT authority Chittagong has submitted a claim of Tk.6,103,839/- through claim no: 46/2018 dated 08 July, 2018 regarding VAT Deducted at Source on different expense heads. An appeal was made against the claim on 04 April, 2018 in Customs, Excise and VAT Appellate Tribunal, Dhaka through paying 10% of the claim amount. (end)
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 23.02.2022 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 22.02.2022.
- 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 16.02.2022 to 20.02.2022. Trading of the shares of the Company will remain suspended on record date i.e., 22.02.2022.
- Dividend Declaration for 2019, 2020 & 2021
(Continuation news of MITHUNKNIT): The Company has also informed that due to suspended of factory operation, the Earning Per Share and Net Operating Cash Flow Per share was null. (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 (01.02.2022) 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 meetings of the Board of Directors will be held on January 31, 2022 at 3:30 PM, 4:30 PM and 5:30 PM respectively to consider, among others, audited financial statements of the Company for the year ended on June 30, 2019, 2020 and 2021.
- Permission to hold AGMs
The Company has informed that they received an order (Company Matter No. 199 of 2021) from the honorable High Court division of Supreme Court of Bangladesh to call, conduct and hold the Annual General Meetings of the Company for the calendar year 2019 and subsequent AGMs.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.