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 2022 (24).
- (Q3 Un-audited): As per life revenue account of the company for July to September, 2022, excess of total expenses over t
(Q3 Un-audited): As per life revenue account of the company for July to September, 2022, excess of total expenses over total income (deficit) was BDT 62.11 million as against excess of total expenses over total income (deficit) BDT 19.97 million in the corresponding previous period ending September 30, 2021. Whereas life revenue account of the company for January to September, 2022, excess of total expenses over total income (Cont.)
- Q3 Financials
(Continuation news of PADMALIFE): (deficit) was BDT 61.79 million as against excess of total expenses over total income (deficit) BDT 26.59 million in the corresponding previous period 2021. Accordingly, Balance of Life Insurance Fund as on September 30, 2022 was BDT 62.84 million as against BDT 104.81 million as on September 30, 2021 resulting a net decrease of BDT 38.97 million. (end)
The first part of this announcement is missing from the archive. - 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 October 27, 2022 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended September 30, 2022.
- (Q2 Un-audited): Decrease in life revenue account for Apr-June, 2022 was Tk. 7.76 million with total life insurance fund
(Q2 Un-audited): Decrease in life revenue account for Apr-June, 2022 was Tk. 7.76 million with total life insurance fund of Tk. 123.95 million as against decrease in Tk. 16.75 million and Tk. 124.78 million respectively for the same period of the previous year. (cont.)
- Q2 Financials
(Continuation news of PADMALIFE): Decrease in life revenue account for Jan-June, 2022 was Tk. 0.68 million with total life insurance fund of Tk. 123.95 million as against decrease in Tk. 6.63 million and Tk. 124.78 million respectively for the same period of the previous year. (end)
The first part of this announcement is missing from the archive. - 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 July 18, 2022 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended June 30, 2022.
- Q1 Financials
(Q1 Un-audited): Increase in life revenue account for Jan-Mar, 2022 was Tk. 7.08 million with total life insurance fund of Tk. 131.71 million as against increase in life revenue account of Tk. 10.12 million and Tk. 141.52 million respectively for the same period of the previous year.
- Resumption after record date
Trading of the shares of the company will resume on 30.05.2022 after record date.
- Suspension for Record date
Trading of the shares of the company will remain suspended on record date i.e. 29.05.2022.
- 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 29, 2022 at 3:00 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended March 31, 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 with cum benefit from 25.05.2022 to 26.05.2022 and trading of the shares will remain suspended on record date i.e, 29.05.2022.
- Reconstruction of Board & elected of Chairman
The Company has informed that Mr. Mohammed Fakrul Islam, has been elected as the Chairman of the Reconstructed Board of Directors of the Company.
- Change of venue of the AGM
The Company has further informed that AGM will be held on June 19, 2022 at 11:00 AM. The AGM will be conducted only digital platform instead of earlier declared Hybrid system.
- The auditor of the Padma Islami Life Insurance Limited has given the \"Other Matter\" paragraphs on the audited financia
The auditor of the Padma Islami Life Insurance Limited has given the \"Other Matter\" paragraphs on the audited financial statements for the year ended December 31, 2021. Other Matter: a) As per section 234 of Bangladesh Labor Act 2006 as amended up to 2013 every company should establish a Workers Profit Participation Fund (WPPF) and Workers Welfare Fund (WWF) within one month of being this chapter applicable if: (cont.1)
- (Continuation news of PADMALIFE): i. The paid-up capital of the company as on the last day of its accounting year is one
(Continuation news of PADMALIFE): i. The paid-up capital of the company as on the last day of its accounting year is one crore taka or more; and ii. The value of the fixed assets of the company at cost on last day of the accounting year is two crore or more. The company is not doing the same as described in said compliance; b) The company reported in Note - 23 as Turnover Tk. 363,025,305.00. Management should present this in VAT exempted column in VAT Return 9.1. Anyway we have verified (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of PADMALIFE): the rest amount through normal audit procedure as well as alternative audit procedure.
(Continuation news of PADMALIFE): the rest amount through normal audit procedure as well as alternative audit procedure. c)As disclosed in note 20.0 SND/STD & CD Accounts with Banks stated Taka 320,658,516.00 of which Taka 206,827,780.00 is continuation from previous years which were not reconciled yet the reporting date and the amount is subject to confirmation, which is the difference amount of actual bank balance and balance as per book and this amount is being (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of PADMALIFE): carry forwarded as bank balance for the last more than five years. We also note that i
(Continuation news of PADMALIFE): carry forwarded as bank balance for the last more than five years. We also note that in December 31, 2018 the number on unreconciled bank account were 528 but during the last three years they have reconciled 402 bank accounts and the remaining 126 bank accounts reconciliation is under process. In this regards our suggestion is management should reconciled the remaining 126 bank accounts as soon as possible; (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of PADMALIFE): d) As per Insurance Act 2010, Section -72 outstanding claim should be paid within 90 d
(Continuation news of PADMALIFE): d) As per Insurance Act 2010, Section -72 outstanding claim should be paid within 90 days from the date on which the payment become due or the claim complies with all formalities, whichever is later but Padma Islami Life Insurance Limited has outstanding claim Tk. 364,262, 135.00 whereas the Life Fund is Tk. 124,630,989.00 & PILIL has not make any provision for interest, e) As disclosed in note 16.0 Advances, Deposits and Prepayments stated Sundry (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of PADMALIFE): Debtors as Taka 46,412,825.00 is subject to confirmation. We also note that this amoun
(Continuation news of PADMALIFE): Debtors as Taka 46,412,825.00 is subject to confirmation. We also note that this amount is being carry forwarded since December 31, 2018; f) In our audit period we observed that the company should maintain solvency margin as per Insurance Act 2010 section 43; g) The management should comply with IFRS 16 \"Leases\" properly in respect of advance for office rent and other advance expenses; (cont.6)
The first part of this announcement is missing from the archive. - Other Matter
(Continuation news of PADMALIFE): h) We refer to the Note 21 reads with Annexure-A, where the company reported Property, Plant and Equipment except Land and Building Tk. 187,410,339.00. Management should develop the tracing number properly in fixed asset register to verify the whereabouts of the said items. (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 (21.04.2022) following its corporate declaration.
- Dividend Declaration
The Board of Directors has recommended 2% cash dividend as final dividend for the year ended December 31, 2021 which is already been paid as interim dividend. Date of AGM: 19.06.2022, Time: 11:00 AM, Venue: Hybrid system: Physical presence: Padma Life Tower, 115, Kazi Nazrul Islam Avenue, Banglamotor, Dhaka and Digital Platform. Record Date: 29.05.2022.
- 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 April 20, 2022 at 3:00 PM to consider, among others, audited financial statements of the Company for the year ended December 31, 2021.
- Revaluation of Asset (Padma Life Tower)
The Company has informed that the Board of Directors has approved the Revaluation of 14 storied Head Office Building of the Company including pertinent land situated at 115, Kazi Nazrul Islam Avenue, Bangla Motor, Dhaka, with effect from 31.12.2021 with an amount of BDT 1,44,52,08,625.00 as per Valuation Report against a Book Value/Written Down Value of BDT 55,55,45,110 on 31.12.2021 posting a Revaluation Gain/Surplus of BDT 88,96,63,515 and its incorporation in the Financial Statements of the year 2021.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.