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 2023 (32).
- The Company has informed that Mr. Md. Rabiul Haque who was a sponsor director of the company passed away on January 15,
The Company has informed that Mr. Md. Rabiul Haque who was a sponsor director of the company passed away on January 15, 2023. His 147,708 shares of the company will be transmitted according to the Court Order against succession case no. 21/2023. As per the Court Order, Mr. Mohammad Wasim Iftekharul Haque (son) will receive 73,854 shares and Mr. Asif Waqfiul Haq (son) will receive 73,854 shares of the company.
- Refer to the earlier news of the company disseminated on 26.10.2023 regarding dividend declaration, the Company has furt
Refer to the earlier news of the company disseminated on 26.10.2023 regarding dividend declaration, the Company has further informed that, due to unavoidable circumstances, the AGM of the Company will be held on December 30, 2023 at 12:00 PM on Virtual Platform instead of earlier declared date December 14, 2023. Link of AGM: https://agmbd.live/toyoknitex2023
- Resumption after record date
Trading of the shares of the company will resume on 21.11.2023.
- Suspension for Record date
Trading of the shares of the company will remain suspended on record date i.e., 20.11.2023.
- 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 15.11.2023 to 19.11.2023 and trading of the shares will remain suspended on record date i.e., 20.11.2023.
- The Board of Directors has recommended No Dividend for the year ended June 30, 2023. Date of AGM: 14.12.2023, Time: 12:0
The Board of Directors has recommended No Dividend for the year ended June 30, 2023. Date of AGM: 14.12.2023, Time: 12:00 PM, Venue: Digital platform. Record Date: 20.11.2023. The company has informed that due to suspend of factory operation since September 20, 2019, the Earnings Per Share and Net Operating Cash Flow Per share were null. Bangladesh Securities and Exchange Commission (BSEC) formed a three-member enquiry committee and subsequently invited management of the company. (cont.)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (26.10.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- Dividend Declaration
(Continuation news of MITHUNKNIT): The company has also mentioned that CEPZ terminated the lease agreement with MKDL which is in effect from 26.02.2019 and informed company management regarding the auction notice of the Non-current assets of the company through a notice dated 16.09.2021. So, it is not possible to disclose the net asset value (NAV) of the company before a final report of the enquiry committee recommended 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 October 25, 2023 at 5:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2023.
- 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. The company has further informed that it could not disclose NAVPS as the final report of the enquiry committee recommended by BSEC is yet to be submitted.
- 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 18, 2023 at 1:50 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2023.
- 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 Tk. 3.18 as on September 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 Tk. 3.18 as on December 31, 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 February 06, 2023 at 4:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended September 30, 2022 and Second Quarter (Q2) period ended December 31, 2022.
- The auditor of the Mithun Knitting and Dyeing Limited has given the \"Qualified Opinion\", \"Going Concern\" and \"Empha
The auditor of the Mithun Knitting and Dyeing Limited has given the \"Qualified Opinion\", \"Going Concern\" and \"Emphasis of Matter\" paragraphs in the Auditor\'s Report for the year ended June 30, 2022. Basis for Qualified Opinion: We refer to the separate audit reports of two subsidiaries Pure Cotton Knitwears Limited and Toyo Composite Knit Garments Limited for the year ended 30 June, 2022 where material (cont.1)
- (Continuation news of MITHUNKNIT): misstatements regarding advance, deposits and prepayments has been reported. This eve
(Continuation news of MITHUNKNIT): misstatements regarding advance, deposits and prepayments has been reported. This event has material impact on the consolidated financial statements of Toyo Knitex (CEPZ) Limited but impact is not given in Financial Statements. 1. We refer to note no: 1.4 (f) regarding the compliance with regulations and Acts. The company is a listed entity and must (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): comply with listing regulations of both Dhaka and Chittagong stock exchange. As per D
(Continuation news of MITHUNKNIT): comply with listing regulations of both Dhaka and Chittagong stock exchange. As per DSE and CSE listing regulation, 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. 2. With reference (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): to note no: 6 regarding the suspension of operation notice to Bangladesh Securities a
(Continuation news of MITHUNKNIT): 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) Immediate Public Disclosure of Material Information of chapter-XII of the Listing Regulation of CSE Limited. 3. We refer to note no: 4(a) of the separate financial statements of Toyo Knitex (CEPZ) (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): Limited regarding investment in subsidiary companies. The company discloses in note n
(Continuation news of MITHUNKNIT): Limited regarding investment in subsidiary companies. The company discloses in note no: 2.2 and 2.8 that, it values investment in Fair Value. Despite of significant deviation of both subsidiary company\'s financial performance and position, the parent company did not account for any impaired value of the investment. 4. We refer to the note no: 19 of the (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): Financial Statements. We note that the Company is not in operations. The amount of Tk
(Continuation news of MITHUNKNIT): Financial Statements. We note that the Company is not in operations. The amount of Tk. 207,446,741 that is 89.54\% of total current assets which is carried forwarded from last year. It indicates there is sufficient doubt about the collectivity of the amount. 5. Cash and Cash Equivalent are presented under note no. 22 of the Financial Statements. We could not confirm the (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): amount as the company is not in operations. There is significant doubt about the exis
(Continuation news of MITHUNKNIT): amount as the company is not in operations. There is significant doubt about the existence of the amount of TK. 2,059,179 that is carried forwarded from last year. 6. We refer to the schedule A that exhibit the detail of Fixed Assets of the parent. The amount (TK 55,627,013) is presented in the Financial Statements is not agreed with schedule as amount is (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): presented at net realizable value. We could not confirm the physical existence of Fix
(Continuation news of MITHUNKNIT): presented at net realizable value. We could not confirm the physical existence of Fixed Assets. 7. Note no: 15 of parent company states that TK 196,950,487 is receivable from export bill. In our opinion, it is not collectable. 8. We also refer to note no: 11 of the consolidated Financial Statements of Toyo Knitex (CEPZ) Limited regarding the composition of Non- (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): Controlling Interest (NCI) Shares in subsidiaries. As per note 11, NCI holds only 06
(Continuation news of MITHUNKNIT): Controlling Interest (NCI) Shares in subsidiaries. As per note 11, NCI holds only 06 Shares in each of the two subsidiaries. But, as per separate Financial Statements of the subsidiaries, parent company holds almost 50\% of (TCKGL) and 84\% of (PCKL). This represents significant anomalies in the Financial Statement. 9. We farther refer to, note no: 4(a) (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): of the separate financial statements of Toyo Knitex (CEPZ) limited, regarding investm
(Continuation news of MITHUNKNIT): of the separate financial statements of Toyo Knitex (CEPZ) limited, regarding investment in subsidiaries. As par note 4(a), the holding company owns 29,166,100 shares in Pure Cotton Knitwears Limited which is almost 50\% of the total shares of the subsidiary. In case of Toyo Composite Knitex Garments Limited, the holding company owns 37,499,700 shares which is (cont.10)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): almost 84\% of the total number of shares of the subsidiary. Both these investment is
(Continuation news of MITHUNKNIT): almost 84\% of the total number of shares of the subsidiary. Both these investment is not in agreement with BSEC consent letter ref; SEC/C1/CPLC/-29/2011/1152 dated:- 05, March, 2012. 10. The company provide evidence which are not considered sufficient and appropriate in connection with investment in subsidiaries and shareholding position of parent and Non-(cont.11)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): Controlling Interest (NCI). Material misstatement is evident in the presentation of c
(Continuation news of MITHUNKNIT): Controlling Interest (NCI). Material misstatement is evident in the presentation of consolidated financial statement. Going Concern: We refer to the note no. 10 of the Financial Statements. We note that Company\'s accumulated retained earnings is Tk. (333,120,253) and current liabilities of the company is TK. 184,696,426. The company is not capable to pay (cont.12)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): the current liabilities as its current assets are not collectible/adjustable. The abo
(Continuation news of MITHUNKNIT): the current liabilities as its current assets are not collectible/adjustable. The above situation indicates that a material uncertainty exists that may cast significant doubt on the Company\'s ability to maintain as a going concern. The Financial Statements do not adequately disclose this matter. Emphasis of Matter: We draw attention to note no: 7 and note no: 8 (cont.13)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): regarding the claim of Chittagong Export Processing Zone (CEPZ) and the litigation ev
(Continuation news of MITHUNKNIT): regarding the claim of Chittagong Export Processing Zone (CEPZ) and the litigation event with Customs, Excise and VAT authority Chittagong. We also refer to note no. 23 regarding the event after reporting period. This is not a modification our opinion. Note 7.00 CEPZ Claim: Chittagong Export Processing Zone (CEPZ) has informed the Company about their claim (cont.14)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): amounting USD. 1,214,219.31 (approx BDT. 102,000,000/- on account of Lease Rentals, W
(Continuation news of MITHUNKNIT): amounting USD. 1,214,219.31 (approx BDT. 102,000,000/- on account of Lease Rentals, Workers Wages and 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). CEPZ authority warned the management of the company (cont.15)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): regarding the early settlement of due payment and the possibility of termination of t
(Continuation news of MITHUNKNIT): 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 and other heads of CEPZ (cont.16)
The first part of this announcement is missing from the archive. - (Continuation news of MITHUNKNIT): expenses. The letter reference was 03.06.2616.314.33.067.91-165 dated: 26 February, 2
(Continuation news of MITHUNKNIT): expenses. 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 8.00 Value Added Tax Authority Claim: Customs, Excise and VAT authority Chittagong has submitted (cont.17)
The first part of this announcement is missing from the archive. - Qualified Opinion, Going Concern and Emphasis of Matter
(Continuation news of MITHUNKNIT): a claim of Tk. 6,103,893/- 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. The tribunal had made temporary solution of the appeal and sent the matter for remand. (end)
The first part of this announcement is missing from the archive.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.