Premier Leasing & Finance Limited announcements
514 Dhaka Stock Exchange announcements for Premier Leasing & Finance Limited (PREMIERLEA) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2022 (31).
- WASO Credit Rating Company (BD) Ltd. has announced the Entity Rating of the Company as \"BBB2\" for long term and \"ST-3
WASO Credit Rating Company (BD) Ltd. has announced the Entity Rating of the Company as \"BBB2\" for long term and \"ST-3\" for short term along with a stable outlook based on latest audited financial statements of the Company as on December 31, 2020 and other relevant qualitative and quantitative information up to the date of rating issuance.
- (Q1 Un-audited): Consolidated EPS was Tk. (2.42) for January-March 2022 as against Tk. (1.64) for January-March 2021; Co
(Q1 Un-audited): Consolidated EPS was Tk. (2.42) for January-March 2022 as against Tk. (1.64) for January-March 2021; Consolidated NOCFPS was Tk. 2.32 for January-March 2022 as against Tk. 0.44 for January-March 2021. Consolidated NAV per share was Tk. (4.58) as on March 31, 2022 and Tk. 14.38 as on March 31, 2021. (cont.)
- (Q2 Un-audited): Consolidated EPS was Tk. (2.99) for April-June 2022 as against Tk. (1.32) for April-June 2021; Consolid
(Q2 Un-audited): Consolidated EPS was Tk. (2.99) for April-June 2022 as against Tk. (1.32) for April-June 2021; Consolidated EPS was Tk. (5.40) for January-June 2022 as against Tk. (2.96) for January-June 2021. Consolidated NOCFPS was Tk. 4.49 for January-June 2022 as against Tk. (0.02) for January-June 2021. Consolidated NAV per share was Tk. (7.65) as on June 30, 2022 and Tk. 13.13 as on June 30, 2021. (cont.)
- (Q3 Un-audited): Consolidated EPS was Tk. (0.92) for July-September 2022 as against Tk. (3.37) for July-September 2021;
(Q3 Un-audited): Consolidated EPS was Tk. (0.92) for July-September 2022 as against Tk. (3.37) for July-September 2021; Consolidated EPS was Tk. (6.32) for January-September, 2022 as against Tk. (6.33) for January-September, 2021. Consolidated NOCFPS was Tk. 6.11 for January-September 2022 as against Tk. 3.35 for January-September 2021. Consolidated NAV per share was Tk. (8.57) as on September 30, 2022 and Tk. 9.81 as on September 30, 2021. (cont.)
- Q3 Financials
(Continuation news of PREMIERLEA): Reason for deviation in Consolidated EPS: Consolidated EPS has been affected due to impact of COVID-19 Pandemic on the business which has increased the NPL of the Company. As a result, interest income from Loan/ Lease/ Advance has been decreased substantially. (end)
The first part of this announcement is missing from the archive. - Q2 Financials
(Continuation news of PREMIERLEA): Reason for deviation in Consolidated EPS: Consolidated EPS has been decreased due to impact of COVID-19 Pandemic on the business which has increased the NPL of the Company. As a result, interest income from Loan/ Lease/ Advance has been decreased substantially. (end)
The first part of this announcement is missing from the archive. - Resumption after record date
Trading of the shares of the Company will resume on 01.12.2022 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2022.
- 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 November 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, Second Quarter (Q2) period ended June 30, 2022 and Third Quarter (Q3) period ended September 30, 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 from 28.11.2022 to 29.11.2022. Trading of the shares of the Company will remain suspended on record date i.e., 30.11.2022.
- The auditor of the Premier Leasing & Finance Limited has given the \"Qualified Opinion\" paragraph in the Auditor\'s Rep
The auditor of the Premier Leasing & Finance Limited has given the \"Qualified Opinion\" paragraph in the Auditor\'s Report for the year ended June 30, 2020. Basis for Qualified Opinion: 1. Premier Leasing & Finance Limited has lease, loan and advances amounting to BDT 13,103,782,670.00 in which classified loan is of BDT 9,383,571,455.00 and unclassified loan is of BDT 3,720,211,215.00. The required provision against lease, loan and advances amounting to BDT 4,661,393,000.00 (cont.1)
- (Continuation news of PREMIERLEA): as per the requirements of the Bangladesh Bank. However, the entity has maintained a
(Continuation news of PREMIERLEA): as per the requirements of the Bangladesh Bank. However, the entity has maintained a provision amounting to BDT 1,589,991,762.00 under \"Other Liabilities\" in the statement of financial position, which suggests that provision has been under charged of BDT 3,071,401,238.00 against lease, loan and advances. Similarly, with regard to other assets and FDR, the company has not recognized any provision which represents the shortfall of (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): provision of BDT 2,928,641,000.00 since the required provision to be maintained as pe
(Continuation news of PREMIERLEA): provision of BDT 2,928,641,000.00 since the required provision to be maintained as per the requirement of Bangladesh Bank should be to talling BDT 2,928,641,000.00 Under provision may accelerate the risk of default, credit risk and bad loans. Bangladesh bank has issued a letter of approval of deferral ratifying the company\'s provision maintenance which represents a shortfall. However, the letter also expressly state that the company must provide for (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): this shortfall in the next Eight (08) years. Disclosures in line with the letter issu
(Continuation news of PREMIERLEA): this shortfall in the next Eight (08) years. Disclosures in line with the letter issued by Bangladesh Bank has been made in the notes to the financial statements 11.04. 2.There is a shortfall of BDT 6,000,042,580.00 in the provision made during the year, and the Capital Adequacy Ratio of the company stands at -41.71\%. This represents the entity\'s heavy dependence on liquid assets funded from external sources, and increases the (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): operational risk of the company. Moreover, this causes material uncertainty to exist
(Continuation news of PREMIERLEA): operational risk of the company. Moreover, this causes material uncertainty to exist in the company\'s ability to continue as a going concern. Since a negative capital Adequacy Ratio implies that the company may not have sufficient capital to handle certain amount of losses and expose the entity to higher insolvency risk. 3.The entity has a negative Earnings Per Share (EPS) of Tk. 18.44 & negative Net Asset Value (NAV) of BDT 5.79 for the year ended (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): December 31,2021. The net profit after tax stands at a negative 2,451,591,323. Howeve
(Continuation news of PREMIERLEA): December 31,2021. The net profit after tax stands at a negative 2,451,591,323. However, the net provision of BDT 1,052,800,000.00 that has been charged in the Statement of Profit or Loss and Other required provision to be charged should be BDT 7,052,842,580.00. After consideration of the provision of BDT in relation to lease, loans and advances, diminution in value of investments & other provision the entity has a negative EPS (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): of Tk. 62.98 and negative Net Asset Value (NAV) of BDT 50.35. This would therefore re
(Continuation news of PREMIERLEA): of Tk. 62.98 and negative Net Asset Value (NAV) of BDT 50.35. This would therefore result in the simultaneous increase in the provision to be charged and the net loss for the year ended. This is alarming, as the negative EPS & NAV would deteriorate further, sending Comprehensive Income is understated as the adverse 6,000,042,580 signals to the shareholders about the company\'s current financial health and future financial stability. (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): Since at this juncture, having a negative EPS for two consecutive year makes the enti
(Continuation news of PREMIERLEA): Since at this juncture, having a negative EPS for two consecutive year makes the entity\'s income generating capability questionable which could lead to a loss of shareholder\'s confidence. The shortfall in provision of BDT 6,000,042,580.00 mentioned in points 2 & 3 above is as per the approval letter of deferral issued by Bangladesh Bank. 4.The company has maintained a Gratuity Fund for the employees in line with Bangladesh Labour Act 2006. (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): It has yet to receive the approval of the fund from National Board of Revenue (NBR) u
(Continuation news of PREMIERLEA): It has yet to receive the approval of the fund from National Board of Revenue (NBR) under First Schedule Part-C Income Tax Ordinance 1984. In a similar manner, the company yet to incorporate Workers\' Profit Participation Fund (WPPF) in line with Bangladesh Labour Act 2006 u/s 232 & 234. The company have three subsidiary namely Premier Leasing Securities Limited, Premier Leasing Securities Broking Limited, (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): Premier Leasing Capital Management Limited is audited by other auditors whose report
(Continuation news of PREMIERLEA): Premier Leasing Capital Management Limited is audited by other auditors whose report has been furnished to us and our opinion is as so far as it related to the amounts included based on the report. Therefore, we draw attention to the Premier Leasing Securities Limited and Premier Leasing Capital Management Limited Auditors report on following matters. a) The income tax Provision amounting to BDT 7,180,936.00 is presented in the financial statements, (cont.10)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): and the entity has advance income tax of BDT 4,946,499.00. This is resulting in the p
(Continuation news of PREMIERLEA): and the entity has advance income tax of BDT 4,946,499.00. This is resulting in the provision for income tax balance increasing every year due to the non-adjustment of the related advance income tax. b) Premier Leasing Securities Limited has an outstanding long term loan BDT 83,528,633.00. This loan represents a related party transaction under IAS 24 Related Party Disclosures as it has been borrowed from Premier Leasing & Finance Limited (cont.11)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): which is the parent company of Premier Leasing Securities Limited. c) Pre-opening exp
(Continuation news of PREMIERLEA): which is the parent company of Premier Leasing Securities Limited. c) Pre-opening expenditure of BDT 8,059,250.00 is being carried forward every year, instead of being written off. The entity is neither writing this expenditure off charging it as an expense against the profit or loss applying an applicable rate. d) Marketable Securities in Hand is BDT 55,526,580.00 at Book-Value. The fair Market Value of Marketable Securities in Hand is BDT 51,812,687.00. (cont.12)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): In line with FID Circular no: 08 dated 03 August 2002, Bangladesh Bank, the company r
(Continuation news of PREMIERLEA): In line with FID Circular no: 08 dated 03 August 2002, Bangladesh Bank, the company reserves provision BDT 3,713,983.00 in consideration of losses incurred due to difference between Book Value and Fair Value as that is non-observance of IFRS 9. e) Premier Leasing Securities Limited has a suspense A/C amounting to BDT 3,81,373.00 under \"Receivable from Others\" in the statement of financial position. (cont.13)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): This balance is increasing every year due to the non-identification of the correspond
(Continuation news of PREMIERLEA): This balance is increasing every year due to the non-identification of the corresponding increase in liability. f) The company is yet to incorporate Worker\'s Profit Participation Fund (WPPF). Such non-establishment contravenes with section 232 & 234 of the Bangladesh Labor Act 2006. g) Similarly, the company has not yet incorporated employees provident fund which is contravenes the stipulation u/s 264 of Bangladesh Labor Act 2006, (cont.14)
The first part of this announcement is missing from the archive. - (Continuation news of PREMIERLEA): which states private organization should institute a provident fund for its employees
(Continuation news of PREMIERLEA): which states private organization should institute a provident fund for its employees. This also violates the provisions of the First Schedule Part B of the Income Tax Ordinance 1984. h) At present Premier Leasing Securities Limited does not have a gratuity fund. Such non-establishment violates the pursuant of the Bangladesh Labor Act 2006, And First Schedule Part C of the Income Tax Ordinance 1984. (cont.15)
The first part of this announcement is missing from the archive. - Qualified Opinion
(Continuation news of PREMIERLEA): i) Premier Leasing Capital Management Limited has not started its commercial operation as yet. j) Premier Leasing Capital Management Limited has not opened its Bank account yet and according notification no. PLFL/2012/2186, dated September 02, 2012 management of the company inform us that they apply for Merchant Banker Registration but have not been approved yet from Securities and Exchange Commission. (end)
The first part of this announcement is missing from the archive. - The Board of Directors has recommended No dividend for the year ended December 31, 2021. Date of AGM: 22.12.2022, Time:
The Board of Directors has recommended No dividend for the year ended December 31, 2021. Date of AGM: 22.12.2022, Time: 11:00 AM, Venue: Digital Platform. Record Date: 30.11.2022. The Company has reported Consolidated EPS of Tk. (18.18), Consolidated NAV per share of Tk. (2.12) and Consolidated NOCFPS of Tk. 4.59 for the year ended December 31, 2021 as against Tk. (2.93), Tk. 16.03 and Tk. 3.26 respectively for the same period of the previous year. (cont.)
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (09.11.2022) following its corporate declaration. However, as per the BSEC Order No. BSEC/CMRRCD/2001-07/39 dated July 28, 2022, the floor price shall be applicable accordingly.
- Dividend Declaration
(Continuation news of PREMIERLEA): The Company has also informed that the consolidated EPS for the year 2021 has been decreased due to negative impact of COVID-19 Pandemic on the business as well as to buildup required provision against NPL from the income generated from Loan/Lease/Advance of the company and transfer of interest income from NPL to the interest suspense account. (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 November 08, 2022 at 2:30 PM to consider, among others, audited financial statements of the Company for the year ended December 31, 2021.
- Appointment of Managing Director
The Company has informed that Mr. Md. Fazlur Rahman has been appointed as the Managing Director of the Company with effect from March 29, 2022.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.