DSE:POWERGRID

Power Grid Bangladesh PLC. announcements

330 Dhaka Stock Exchange announcements for Power Grid Bangladesh PLC. (POWERGRID) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2011 (28).

  1. Normal trading of the shares of the Company will resume on 27.12.2011 after record date.

    Normal trading of the shares of the Company will resume on 27.12.2011 after record date.

  2. Trading of the shares of the Company will remain suspended on record date i.e., 26.12.2011.

    Trading of the shares of the Company will remain suspended on record date i.e., 26.12.2011.

  3. Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be

    Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be settled as per Spot settlement cycle with cum benefit from 20.12.2011 to 22.12.2011. Trading of the shares of the Company will remain suspended on record date i.e., 26.12.2011.

  4. (Q1): As per un-audited quarterly accounts for the 1st quarter ended on 30th September 2011 (July'11 to Sep'11), the Com

    (Q1): As per un-audited quarterly accounts for the 1st quarter ended on 30th September 2011 (July'11 to Sep'11), the Company has reported profit after tax of Tk. 428.55 million with EPS of Tk. 1.02 as against Tk. 485.61 million and Tk. 1.16 respectively for the same period of the previous year.

  5. - Auditor Qualification...

    (Auditor Qualification): At the time of assessment of Audit Report of the Company, it has been revealed that "ACNABIN", Auditor of the Company, has opined the following in the 'Qualified Opinion' section of the audit report of the Company for the year ended on 30th June 2011: "Basis for Qualified Opinion: (1) Exchange rate fluctuation loss amounting to Tk. 1,344,850,002.00 relating to the outstanding principal amount of loan as on 30 June 2011 of the completed projects that are now in operation has been capitalized and included in Property, plant and equipment as addition instead of recognizing such loss in Profit and Loss Account; and consequently the comparative figures of exchange rate fluctuation loss (net-off gain and depreciation expense retained back) (cont.-1)

  6. (continuation of news of POWERGRID): Tk. 8,641.00 (debit balances) and Tk. 4,727,427.00 on account of BPDB, project Proj

    (continuation of news of POWERGRID): Tk. 8,641.00 (debit balances) and Tk. 4,727,427.00 on account of BPDB, project Project-1, TSS and Project-2 respectively as on 30 June 2011. As disclosed in Note# 12.3, Note# 12.4(A) and Note#16 PGCBL owes Tk. 8,003,670.00, Tk. 9,230,780,252.00 and Tk. 881,647,500.00 to BPDB respectively. No balance confirmation has been received from BPDB with respect to above." (end)

    The first part of this announcement is missing from the archive.
  7. (continuation of news of POWERGRID): We had no other practical alternative auditing procedure that we could apply to aut

    (continuation of news of POWERGRID): We had no other practical alternative auditing procedure that we could apply to authenticate the physical existence as well as the value thereof as on 30 June 2011. (4) As disclosed in Note#14 to the financial statements, the Company operates an unfunded gratuity scheme and makes provision as per company policy. But no actuarial valuation has been done as per BAS-19. (5) As disclosed in Note#19 to the financial statements, liabilities for other finance include an amount owed to BPDB Tk. 3,765,000.00 and as disclosed in Note#19.4, liabilities for other finance include account current with corporations and other offices amounting to Tk. 115,286,586.00 comprising balances of Tk. 112,990,367.00, Tk. 2,422,567.00 (debit balances), (cont.5)

    The first part of this announcement is missing from the archive.
  8. (continuation of news of POWERGRID): time during the period under audit. Bangladesh Accounting Standard (BAS) 36 require

    (continuation of news of POWERGRID): time during the period under audit. Bangladesh Accounting Standard (BAS) 36 requires impairment test of property, plant and equipment and necessary disclosure in this regard. The Company has not laid down policy and procedure in regard to impairment test, and no such test was carried out. (3) As disclosed in Note#6 to the financial statements, the Company has reported an amount of Tk. 1,339,656,762.00 as inventories. The Company did not carry out any physical verification of inventory as at 30 June 2011 or any time during the period under audit. Movement of inventories is not properly recorded in the accounts maintained at the cost centres we visited. As a result, physical existence of inventory could not be verified. (cont.4)

    The first part of this announcement is missing from the archive.
  9. (Auditor Qualification): At the time of assessment of Audit Report of the Company, it has been revealed that "ACNABIN",

    (Auditor Qualification): At the time of assessment of Audit Report of the Company, it has been revealed that "ACNABIN", Auditor of the Company, has opined the following in the 'Qualified Opinion' section of the audit report of the Company for the year ended on 30th June 2011: "Basis for Qualified Opinion: (1) Exchange rate fluctuation loss amounting to Tk. 1,344,850,002.00 relating to the outstanding principal amount of loan as on 30 June 2011 of the completed projects that are now in operation has been capitalized and included in Property, plant and equipment as addition instead of recognizing such loss in Profit and Loss Account; and consequently the comparative figures of exchange rate fluctuation loss (net-off gain and depreciation expense retained back) (cont.-1)

  10. (continuation of news of POWERGRID): WPPF, net profit after tax, fixed assets and shareholders equity would have been re

    (continuation of news of POWERGRID): WPPF, net profit after tax, fixed assets and shareholders equity would have been reduced by Tk. 77,773,149.00, Tk. 40,484,467.00, Tk. 1,226,592,386.00, Tk. 1,267,076,853.00 and Tk. 2,727,122,176.00 respectively. (2) The carrying amount of property, plant and equipment as reported on the Balance Sheet is Tk. 35,676,781,529.00. The Company does not maintain proper register for property, plant and equipment. Valuation of plant and machinery transferred from Bangladesh Power Development Board (BPDB, previously PDB) and Dhaka Power Development Company (DPDC, previously DESA) was not done properly. The Company did not conduct any physical verification of its property, plant and equipment as at 30 June 2011 or any (cont.-3)

    The first part of this announcement is missing from the archive.
  11. (continuation of news of POWERGRID): Tk. 1,500,529,790.00 relating to prior years have been restated, thus increasing th

    (continuation of news of POWERGRID): Tk. 1,500,529,790.00 relating to prior years have been restated, thus increasing the retained earnings at the beginning of the year 2010-2011 by the same amount. Para-28 of BAS-21 requires that the said exchange rate fluctuation loss shall be recognized in Profit and Loss account, and accordingly the Company had been consistently charging such exchange rate fluctuation loss (gain) in Profit and Loss account in the previous years from the very beginning. Had the said exchange rate fluctuation loss been charged in profit and loss account of the current year, the finance expenses would have been increased by Tk. 1,344,850,002.00 and depreciation expense, contribution to (cont.-2)

    The first part of this announcement is missing from the archive.
  12. In reference to their letter dated December 08, 2011 (news disseminated by DSE on December 11, 2011), wherein NAV per sh

    In reference to their letter dated December 08, 2011 (news disseminated by DSE on December 11, 2011), wherein NAV per share has been mentioned as Tk. 4.72, the Company has further informed that it would be Tk. 47.21 per share of Tk. 10.00.

  13. There will be no price limit on the trading of the shares of the Company today (11.12.2011) following its corporate decl

    There will be no price limit on the trading of the shares of the Company today (11.12.2011) following its corporate declaration.

  14. The Board of Directors has recommended cash dividend @ 15% (i.e. Tk. 1.50 per share of Tk. 10.00 each) for the year ende

    The Board of Directors has recommended cash dividend @ 15% (i.e. Tk. 1.50 per share of Tk. 10.00 each) for the year ended on June 30, 2011. Date of AGM: 18.02.2012, Time: 10:30 AM, Venue: "Trust Milonayaton", 545, Old Airport Road, Tejgaon, Dhaka-1206. Record date: 26.12.2011. The Company has also reported EPS of Tk. 2.21, NAV per share of Tk. 4.72 and NOCFPS of Tk. 3.98 for the year ended on June 30, 2011.

  15. In connection with their news disseminated by DSE on December 05, 2011, the Company has further informed that due to una

    In connection with their news disseminated by DSE on December 05, 2011, the Company has further informed that due to unavoidable circumstances, the meeting of Board of Directors of the Company which was held on December 07, 2011 has been adjourned up to 4:00 p.m. of December 08, 2011.

  16. As per regulation 30 of DSE Listing Regulations, the Company has further informed that a meeting of Board of Directors o

    As per regulation 30 of DSE Listing Regulations, the Company has further informed that a meeting of Board of Directors of the Company will be held on December 07, 2011 at 5:30 p.m. to consider, among others, audited financial statements of the Company for the year ended on June 30, 2011.

  17. Following the change of denomination, normal trading of the shares of the Company will resume on 04.12.2011 after record

    Following the change of denomination, normal trading of the shares of the Company will resume on 04.12.2011 after record date with new face value of Tk. 10.00 per share, market lot of 500 shares and adjusted open price of Tk. 71.70 per share.

  18. The Company has further informed that the meeting which was scheduled to be held today (13.11.2011) has been postponed.

    The Company has further informed that the meeting which was scheduled to be held today (13.11.2011) has been postponed. The new schedule and time will be notified later.

  19. As per regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of Board of Directors of the Co

    As per regulation 30 of DSE Listing Regulations, the Company has informed that a meeting of Board of Directors of the Company will be held on November 13, 2011 at 5:30 p.m. to consider, among others, audited financial statements of the Company for the year ended on June 30, 2011.

  20. Normal trading of the shares of the Company will resume on 24.10.11 after record date for EGM.

    Normal trading of the shares of the Company will resume on 24.10.11 after record date for EGM.

  21. Trading of the shares of the Company will remain suspended on record date i.e., 23.10.11 for EGM.

    Trading of the shares of the Company will remain suspended on record date i.e., 23.10.11 for EGM.

  22. Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be

    Trading of the shares of the Company will be allowed only in the Spot Market and Block/Odd lot transactions will also be settled as per Spot settlement cycle from 18.10.11 to 20.10.11. Trading of the shares of the Company will remain suspended on record date i.e., 23.10.11 for EGM.

  23. The Company has informed that in compliance with SEC's Order dated 15.09.2011, the Board of Directors of the Company has

    The Company has informed that in compliance with SEC's Order dated 15.09.2011, the Board of Directors of the Company has decided to change the denomination of face value of shares from Tk. 100.00 to Tk. 10.00 each and to change market lot of the shares from 50 to 500 shares. Necessary amendments will also be made in the Memorandum and Articles of Association of the Company in this respect. Date of EGM: 19.11.2011, Venue: Engineers Institution Bangladesh Auditorium, 8/A, Ramna, Dhaka-1000. Record date for EGM: 23.10.2011. The Company did not inform the time of the EGM.

  24. (Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 31st March 2011 (Jan'11 to March'11), the compan

    (Q3): As per un-audited quarterly accounts for the 3rd quarter ended on 31st March 2011 (Jan'11 to March'11), the company has reported profit after tax of Tk. 318.68 million with EPS of Tk. 7.61 as against Tk. 335.27 million and Tk. 8.00 (restated) respectively for the same period of the previous year. Whereas profit after tax was Tk. 837.80 million with EPS of Tk. 19.99 for the period of nine months (July'10 to March'11) ended on 31.03.2011 as against Tk. 1,068.53 million and Tk. 25.50 (restated) respectively for the same period of the previous year.

  25. (continuation of news of POWERGRID-H/Y) : Whereas profit after tax was Tk. 33.51 million with basic EPS of Tk. 0.92 for

    (continuation of news of POWERGRID-H/Y) : Whereas profit after tax was Tk. 33.51 million with basic EPS of Tk. 0.92 for the period of 3 months (Oct' 10 to Dec' 10) ended on 31.12.10 as against Tk. 366.57 million and Tk. 10.06 respectively for the same period of the previous year. However considering proposed bonus share @ 15% for the year 2009-10, restated EPS will be Tk. 0.80 as on 31.12.10 (Oct' 10 to Dec' 10) and Tk. 8.75 for the same period of the previous year.

    The first part of this announcement is missing from the archive.
  26. As per un-audited half yearly accounts as on 31.12.10 (July' 10 to Dec' 10), the company has reported profit after tax o

    As per un-audited half yearly accounts as on 31.12.10 (July' 10 to Dec' 10), the company has reported profit after tax of Tk. 519.12 million with basic EPS of Tk. 14.25 as against Tk. 733.25 million and Tk. 20.12 respectively for the same period of the previous year. However considering proposed bonus share @ 15% for the year 2009-10, restated EPS will be Tk. 12.39 as on 31.12.10 (July' 10 to Dec' 10) and Tk. 17.50 for the same period of the previous year. (cont.)

  27. (Correction): The company has informed that an embezzlement of TK. 63.75 crore had occurred in Ishwardi-Baghabari-Sirajg

    (Correction): The company has informed that an embezzlement of TK. 63.75 crore had occurred in Ishwardi-Baghabari-Sirajgonj-Bogra 230 KV Transmission Line Project and Sylhet-Shahajibazar-Brahmanbaria 230 KV Transmission Line Project of the secretariat of General Manager (Project) of Power Grid Company of Bangladesh Ltd. Two separate investigation committees had been formed by the Management and Directors of the company in this regard. The matter of taking necessary disciplinary action against the responsible persons based on the investigation report is under process. Besides, a complaint had been filed with the Anti Corruption Commission of Bangladesh to take necessary action against the responsible persons for the said embezzlement.

  28. The company has informed that an embezzlement of TK. 63.75 had occurred in Ishwardi-Baghabari-Sirajgonj-Bogra 230 KV Tra

    The company has informed that an embezzlement of TK. 63.75 had occurred in Ishwardi-Baghabari-Sirajgonj-Bogra 230 KV Transmission Line Project and Sylhet-Shahajibazar-Brahmanbaria 230 KV Transmission Line Project of the secretariat of General Manager (Project) of Power Grid Company of Bangladesh Ltd. Two separate investigation committee had been formed by the Management and Directors of the company in this regard. The matter of taking necessary disciplinary action against the responsible persons based on the investigation report is under process. Besides, a complaint had been filed with the Anti Corruption Commission of Bangladesh to take necessary action against the responsible persons for the said embezzlement.

Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.