Phoenix Insurance PLC. announcements
366 Dhaka Stock Exchange announcements for Phoenix Insurance PLC. (PHENIXINS) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (30).
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 0.77 for July-September 2023 as against Tk. 0.57 for July-September 2022; EPS was Tk. 1.77 for January-September 2023 as against Tk. 1.96 for January-September 2022. NOCFPS was Tk. 1.44 for January-September 2023 as against Tk. 1.58 for January-September 2022, NAV per share was Tk. 36.66 as on September 30, 2023 and Tk. 37.10 as on December 31, 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 October 22, 2023 at 4:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended September 30, 2023.
- Appointment of Independent Director
The company has informed that Mr. Javed Hosein has been appointed as an Independent Director of the company with immediate effect.
- (Q2 Un-audited): EPS was Tk. 0.33 for April-June 2023 as against Tk. 0.57 for April-June 2022; EPS was Tk. 1.00 for Janu
(Q2 Un-audited): EPS was Tk. 0.33 for April-June 2023 as against Tk. 0.57 for April-June 2022; EPS was Tk. 1.00 for January-June 2023 as against Tk. 1.39 for January-June 2022. NOCFPS was Tk. 0.72 for January-June 2023 as against Tk. 1.34 for January-June 2022. NAV per share was Tk. 35.89 as on June 30, 2023 and Tk. 37.10 as on December 31, 2022. (cont.)
- Q2 Financials
(Continuation news of PHENIXINS): Reasons for deviation in EPS, NOCFPS and NAVPS: EPS has been decreased due to decrease in gross premium and other income. NOCFPS has been decreased due to decrease in collection from premium and other income. NAVPS has been decreased due to decrease in cash and cash equivalents. (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 30, 2023 at 5:30 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended June 30, 2023.
- Dividend Disbursement
The Company has informed that it has disbursed the cash dividend for the year ended December 31, 2022 to the respective shareholders.
- Share Transmission Completion of Deceased Director
The Company has further informed that 11,67,859 shares of Late Deen Mohammad, a former director of the company, has been transmitted to Mohammed Shoeb, one of the Directors of the company, according to the news of the company disseminated by DSE on May 29, 2023.
- The Company has informed that Deen Mohammad who was a director of the company passed away on 27.04.2021. His total holdi
The Company has informed that Deen Mohammad who was a director of the company passed away on 27.04.2021. His total holding of 11,67,859 shares of the company will be transmitted according to the Succession Certificate issued by the Honorable Court. As per the succession certificate, Mst. Rokshana Begum (wife) will receive 1,45,982 shares, Meherun Haque (daughter) will receive 2,55,469 shares, (cont.)
- Transmission of shares and receipts of the shares by a director
(Continuation news of PHENIXINS): Evana Fahmida Mohammad (daughter) will receive 2,55,469 shares and Mohammed Shoeb (son) will receive 5,10,939 shares. The Court also ordered to transfer all shares to Mohammed Shoeb on behalf of the successors. As such, Mohammed Shoeb, one of the Directors of the Company, will receive 11,67,859 shares from his father Late Deen Mohammad. (end)
The first part of this announcement is missing from the archive. - The auditor of the Phoenix Insurance Company Ltd. has given the \"Qualified Opinion & Emphasis of Matter\" paragraph in
The auditor of the Phoenix Insurance Company Ltd. has given the \"Qualified Opinion & Emphasis of Matter\" paragraph in the Auditor\'s Report for the year ended on December 31, 2022. \"Basis for Qualified Opinion: 1. As per Section 181 of the Companies Act, 1994 every Company has to maintain proper books of account which is necessary to give a true and fair view opinion on the state of the affairs of the company and to explain its transactions. (cont.1)
- (Continuation news of PHENIXINS): But Phoenix Insurance Company Ltd., has shortcomings in the maintenance of such books
(Continuation news of PHENIXINS): But Phoenix Insurance Company Ltd., has shortcomings in the maintenance of such books of accounts. The regular operation related transactions should have been properly and adequately documented and clarified which left us a scope limitation for conducting our audit in some of the areas of the financial statements. 2. In reference to the Note no:- 8, the company is showing Tk. 10,000,000 as the Gratuity provision in the current year (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of PHENIXINS): which has been calculated on a lump-sum basis violating the Section 2(10) the Banglade
(Continuation news of PHENIXINS): which has been calculated on a lump-sum basis violating the Section 2(10) the Bangladesh Labour Act, 2006 (amended 2018), \"The wages of at least 30 (thirty) days, at the rate of the wages a worker received last for every completed year of his service or for a period of his service exceeding 06(six) months or, in the case of his service of more than 10 (ten) years, the wages of 45 (forty-five) days at the rate of the wages he received last, (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of PHENIXINS): which is payable to such worker on the termination of his employment.\" In this proces
(Continuation news of PHENIXINS): which is payable to such worker on the termination of his employment.\" In this process the company is keeping lower amount of provision than the required amount for the Gratuity expenses. Emphasis of Matter: 1. The Insurance Development and Regulatory Authority (IDRA) issued a SRO no. 280-Law/2018 dated 26 September, 2018 for good governance about Management expense. (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of PHENIXINS): By the said SRO IDRA prescribed a limit of management expense. As disclosed in the Not
(Continuation news of PHENIXINS): By the said SRO IDRA prescribed a limit of management expense. As disclosed in the Note # 29 the company incurred the said Management Expense amounting TK. 219,766,328 during the year. During the audit operation we found that the Management Expenses of the company exceeds by Tk. 9,561,123 than the prescribed limit as per the SRO no. 280-Law/2018 dated 26 September, 2018. (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of PHENIXINS): 2. As per note no. 18.02 of the Financial Statements, Phoenix Insurance Co. Limited is
(Continuation news of PHENIXINS): 2. As per note no. 18.02 of the Financial Statements, Phoenix Insurance Co. Limited is showing total cost of Quoted Share Tk. 178,147,386 which fair value is Tk. 474,391,403 which leads to the unrealized gain Tk. 296,244,017. As per the portfolio statements maximum unrealized gain for the quoted shares should be Tk. 200,235,617. (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of PHENIXINS): But the company is showing the accumulated Fair value reserve in the Note 5 Tk. 264,96
(Continuation news of PHENIXINS): But the company is showing the accumulated Fair value reserve in the Note 5 Tk. 264,963,598 (although this includes the fair value of the unquoted shares also). This leaves a difference between the fair value between the portfolio statements and the financial statements. (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of PHENIXINS): As per the statements of the company the difference has been arisen due to differences
(Continuation news of PHENIXINS): As per the statements of the company the difference has been arisen due to differences between the cost prices of the paper shares of The City Bank Ltd., and Phoenix Finance & Investment Ltd. as per their record and as per the portfolio statements. Our opinion is not modified in these regards.\" (end)
The first part of this announcement is missing from the archive. - (Q1 Un-audited): EPS was Tk. 0.67 for January-March 2023 as against Tk. 0.80 for January-March 2022. NOCFPS was Tk. 0.60
(Q1 Un-audited): EPS was Tk. 0.67 for January-March 2023 as against Tk. 0.80 for January-March 2022. NOCFPS was Tk. 0.60 for January-March 2023 as against Tk. 0.82 for January-March 2022. NAV per share was Tk. 37.52 as on March 31, 2023 and Tk. 37.10 as on December 31, 2022. (cont.)
- Q1 Financials
(Continuation news of PHENIXINS): Reasons for deviation in EPS, NOCFPS and NAVPS: EPS has been decreased due to decrease in gross premium and other income. NOCFPS is lower due to decrease in collection from premium and other income. NAVPS has been increased due to decrease in fund accounts. creditors and accruals. (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 May 10, 2023 at 4:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended March 31, 2023.
- Credit Rating Information and Services Limited (CRISL) has assigned the rating of the Company as \"CPA AA\" in the long
Credit Rating Information and Services Limited (CRISL) has assigned the rating of the Company as \"CPA AA\" in the long term along with Stable outlook in consideration of audited financials of the Company up to December 31, 2022; unaudited financials up to March 31, 2023 and other relevant quantitative as well as qualitative information up to the date of rating declaration.
- Resumption after record date
Trading of the shares of the company will resume on 18.04.2023.
- Suspension for record date
Trading of the shares of the company will remain suspended on record date i.e., 17.04.2023.
- 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 with cum benefit from 13.04.2023 to 16.04.2023 and trading of the shares will remain suspended on record date i.e., 17.04.2023.
- The Board of Directors has recommended 15\% cash dividend for the year ended December 31, 2022. Date of AGM: 31.05.2023,
The Board of Directors has recommended 15\% cash dividend for the year ended December 31, 2022. Date of AGM: 31.05.2023, Time: 2:30 PM, Venue: Digital Platform. Record Date: 17.04.2023. The Company has reported EPS of Tk. 2.02, NAV per share of Tk. 37.10 and NOCFPS of Tk. 1.37 for the year ended December 31, 2022 as against Tk. 2.20, Tk. 39.90 and Tk. 4.06 respectively for the year ended December 31, 2021. (cont.)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (21.03.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- Dividend Declaration
(Continuation news of PHENIXINS): The company has also informed that EPS decreased as dividend income and other income have been decreased from last year. Maximum amount of investment in share price has reduced as a result NAV per share has been decreased from last year. NOCFPS is lower as premium deposit and other income have been decreased from last year. (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 March 20, 2023 at 5:00 PM to consider, among others, audited financial statements of the company for the year ended December 31, 2022.
- Resignation of an Independent Director
The company has informed that one of the independent directors, Mr. Md. Faizur Rahman has resigned from the Board of Directors of the company.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.