Padma Islami Life Insurance Limited announcements
261 Dhaka Stock Exchange announcements for Padma Islami Life Insurance Limited (PADMALIFE) since 2012: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2016 (23).
- Elected Chairman and Vice Chairman
The Company has informed that Mr. A.F.M Obaidur Rahman has been elected as the Chairman and Dr. Nadera Saberin as the Vice Chairman of the Company for the term (2016-2017).
- Emphasis of Matter
The auditor of the company has given the following 'Emphasis of Matter' paragraph in the audit report of the company prepared for the year ended on 31 December 2015. Emphasis of Matters: 1. As per Fixed Assets schedule of the company, the value of Padma Life Tower was shown including Land & Building value as per agreement which is clear violation of BAS-16 para-58. The value of Land and Building should be shown separately. As result the company understated Life Insurance Fund of taka 14,580,839.00 for charging depreciation on said Land. During the year the company has rectified said errors by necessary adjustment BAS-08. 2. The company made an advance for taka 63,026,037.00 in 2013 and taka 47,255,173.00 in 2014 against 6th - 7th floor of Padma Life Tower which has been treated as fixed assets addition for the respective year instead of showing as advance against Capital Expenditure. As results the company has violated BAS-16 for recognition of Fixed Assets and also the company has understated of life Insurance Fund by taka 8,507,797.00 for charging depreciation on said fixed assets in earlier recognition. During the year the company has rectified said errors by necessary adjustment according to BAS-08.The company made an advance for taka 4,438,000.00 in 2014 against floor space (Chandpur Branch) and treated as assets addition during the year of payment instead of treating as Advance against Capital Expenditure which results understatement of life Insurance Fund by taka 221,900.00 due to charging depreciation on said advance.
- Resumption after record date
Trading of the shares of the Company will resume on 04.12.2016 after record date.
- Suspension for record date
Trading of the shares of the Company will remain suspended on record date i.e., 01.12.2016 for AGMs.
- Spot for AGMs
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 20.11.2016 to 30.11.2016. Trading of the shares of the Company will remain suspended on record date i.e., 01.12.2016 for the 15th AGM and 16th AGM.
- Q3 Financials
Decrease in life revenue account for July-September, 2016 was Tk. 79.40 million as against decrease of Tk. 2.55 million for July-September, 2015. Whereas decrease in life insurance fund for Jan- September, 2016 was Tk. 375.38 million with total life insurance fund of Tk. 2,7464.22 million as against increase of Tk. 10.88 million and Tk. 3,096.53 million respectively for Jan- September, 2015 (Q3 Un-audited): Decrease in life revenue account for July-September, 2016 was Tk. 79.40 million as against decrease of Tk. 2.55 million for July-September, 2015. Whereas decrease in life insurance fund for Jan- September, 2016 was Tk. 375.38 million with total life insurance fund of Tk. 2,7464.22 million as against increase of Tk. 10.88 million and Tk. 3,096.53 million respectively for Jan- September, 2015.
- Q2 Financials
Decrease in life revenue account for Apr-June, 2016 was Tk. 132.09 million with total life insurance fund of Tk. 2,825.62 million as against increase of Tk. 32.72 million and Tk. 3,099.08 million respectively for the same period of the previous year. Decrease in life revenue account for Jan-June,2016 was Tk. 295.98 million with total life insurance fund of Tk. 2,825.62 million as against increase of Tk. 13.43 million and Tk. 3,099.08 million respectively forJan-June,2015. (Q2 Un-audited): Decrease in life revenue account for Apr-June, 2016 was Tk. 132.09 million with total life insurance fund of Tk. 2,825.62 million as against increase of Tk. 32.72 million and Tk. 3,099.08 million respectively for the same period of the previous year. Decrease in life revenue account for Jan-June,2016 was Tk. 295.98 million with total life insurance fund of Tk. 2,825.62 million as against increase of Tk. 13.43 million and Tk. 3,099.08 million respectively forJan-June,2015.
- Q1 Financials
Decrease in life revenue account for Jan-Mar, 2016 was Tk. 163.88 million with total life insurance fund of Tk. 2,957.72 million as against decrease in life revenue account was Tk. 19.29 million and Tk. 3,066.36 million respectively for the same period of the previous year. (Q1 Un-audited): Decrease in life revenue account for Jan-Mar, 2016 was Tk. 163.88 million with total life insurance fund of Tk. 2,957.72 million as against decrease in life revenue account was Tk. 19.29 million and Tk. 3,066.36 million respectively for the same period of the previous year.
- Dividend Declaration
The Board of Directors has recommended No dividend for the year ended on December 31, 2015. Date of 15th AGM and 16th AGM: 15.12.2016, Time of 15th AGM and 16th AGM: 10:30 AM and 11:30 AM respectively, Venue of the AGMs: Padma Life Tower, 115 Kazi Nazrul Islam Avenue, Bangla Motor, Dhaka-1000. Record Date: 01.12.2016.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company on 13.11.2016 following its corporate declaration.
- Board Meeting
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 10, 2016 at 2:40 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended on March 31, 2016, Second Quarter (Q2) period ended on June 30, 2016 and Third Quarter (Q3) period ended on September 30, 2016.
- Board Meeting
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 10, 2016 at 2:40 PM to consider, among others, audited financial statements of the Company for the year ended on December 31, 2015.
- Resumption after record date
Trading of the shares of the Company will resume on 31.07.2016 after record date.
- Suspension news for record date
Trading of the shares of the Company will remain suspended on record date i.e., 28.07.2016.
- 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 17.07.2016 to 27.07.2016. Trading of the shares of the Company will remain suspended on record date i.e., 28.07.2016.
- Dividend Declaration
The Board of Directors has recommended no dividend for the year ended on December 31, 2014. Venue of the AGM: Padma Life Tower, 115 Kazi Nazrul Islam Avenue, Bangla Motor, Dhaka-1000. AGM date to be notified later on (after getting the decision regarding the date of AGM from Honorable High Court). Record Date: 28.07.2016.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (19.06.2016) following its corporate declaration.
- Q1 Financials
As per un-audited quarterly accounts for the 1st quarter ended on 31st March 2015 (Jan'15 to March'15), the Company has reported decrease in life revenue account of Tk. 19.29 million with total life insurance fund of Tk. 3,066.36 million as against an increase of Fund of Tk. 14.83 million and Tk. 3,019.31 million respectively for the same period of the previous year.
- Half-Yearly
As per un-audited half yearly accounts as on 30.06.2015(Jan'15-June'15), the Company has reported an increase in life insurance fund of Tk. 13.43 ml. with total life insurance fund of Tk. 3,099.08 ml. as against Tk. 26.75 ml. and Tk. 3,031.23 ml. respectively for the same period of the previous year. Whereas increase in life insurance fund was Tk. 32.72 ml. for the period of 3 months (Apr'15-June'15) ended on 30.06.2015 as against Tk. 11.93 ml. for the same period of the previous year.
- Q3 Financials
As per un-audited quarterly accounts for the 3rd quarter ended on 30th September 2015 (July'15 to Sep'15), the Company has reported decrease in life insurance fund of Tk. 2.55 million as against an increase of fund of Tk. 26.82 million for the same period of the previous year.Whereas increase in life insurance fund was Tk. 10.88 million for the period of 9 months (Jan'15 to Sep'15) ended on 30.09.2015 as against Tk. 53.57 million for the same period of the previous year.Total life insurance fund stood at Tk. 3,096.53 million as on 30.09.2015 as against Tk. 3,058.05 million as on 30.09.2014.
- 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 June 16, 2016 at 2:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) (January- March, 2015), the Half Yearly (January - June, 2015) and the Third Quarter (Q3) (July - September, 2015).
- Board Meeting
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 June 16, 2016 at 2:30 PM to consider, among others, audited financial statements of the Company for the year ended on December 31, 2014.
- Appointment of Chief Executive Officer
The Company has informed that Mr. Quamrul Hasan has been appointed as the Chief Executive Officer of the Company with effect from February 18, 2016.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.