Prime Islami Life Insurance Limited announcements
319 Dhaka Stock Exchange announcements for Prime Islami Life Insurance Limited (PRIMELIFE) since 2007: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2018 (12).
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 18.12.2018.
- Query Response
In response to a DSE query dated December 13, 2018, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike of shares.
- 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 with cum benefit from 13.12.2018 to 17.12.2018. Trading of the shares of the Company will remain suspended on record date i.e., 18.12.2018.
- Q1 Financials
(Q1 Un-audited): Decrease in life revenue account for Jan-Mar, 2018 was Tk. 405.37 million with total life insurance fund of Tk. 8,061.22 million as against decrease in Tk. 312.32 million and Tk. 7,643.15 million respectively for the same period of the previous year.
- Q2 Financials
(Q2 Un-audited): Decrease in life revenue account for Apr-June, 2018 was Tk. 3.57 m. with total life insurance fund of Tk. 8,057.65 m. as against decrease in Tk. 109.78 m. and Tk. 7,533.38 m. respectively for the same period of the previous year. Decrease in life revenue account for Jan-June, 2018 was Tk. 408.94 m. with total life insurance fund of Tk. 8,057.65 m. as against decrease in Tk. 422.09 m. and Tk. 7,533.38 m. respectively for the same period of the previous year.
- Q3 Financials
(Q3 Un-audited): Increase in life revenue account for July-September, 2018 was Tk. 146.55 million as against Tk. 92.64 million for July-September, 2017. Whereas decrease in life revenue account for Jan- September, 2018 was Tk. 262.39 million with total life revenue account of Tk. 8,204.20 million as against Tk. 329.46 million and Tk. 7,626.02 million respectively for the same period of the previous year.
- Dividend Declaration
The Board of Directors has recommended 15% cash dividend for the year ended on December 31, 2017. Date of AGM: 27.12.2018, Time: 11:00 AM, Venue: Police Convention Hall (1st floor), Eskaton Garden, Ramna, Dhaka. Record Date: 18.12.2018.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (09.12.2018) following its corporate declaration.
- 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 December 08, 2018 at 12:00 noon to consider, among others, audited financial statements of the Company for the year ended on December 31, 2017.
- 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 December 08, 2018 at 12:00 noon to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) periods from January-March 2018, Second Quarter (Q2) periods from April-June 2018 and Third Quarter (Q3) periods from July-September 2018.
- Qualified Opinion
Qualified Opinion: The auditor of the company has given the following "Qualified Opinion" in the audit report of the company for the year ended on 31 December 2017: Basis for Qualified Opinion: 1. According to IAS-19 'Employee benefits' Company has not recognized any provision in the Revenue Accounts and liability in the Balance Sheet against the Gratuity Fund. The Company recognizes the Gratuity payment in accordance with cash basis instead of accrual basis which is not compliance of (cont.1) (Continuation news of PRIMELIFE): However, (Tk. 55,42,24,450 - Tk. 50,28,23,450) Tk. 5,14,01,000, a portion of related advance payment was recognized as cost of said asset and reported against Land under Property Plants & Equipment Tk. 12,02,67,330 reflected in the Statement of Financial Position for the year ended June, 2016, therefore understatement of asset value by Tk. 50,28,23,450. (end) (Continuation news of PRIMELIFE): Bangladesh Accounting Standards (BAS) 16 require that all acquisition and others directly related cost (which, either paid in advance or remains payable) shall be recognized under assets (land) at the time of assets recognition in books of accounts of the company. However, the company did not recognize the said advance payment to the Owner fully. (cont.3) (Continuation news of PRIMELIFE): IAS 19 'Employee benefits'. Therefore, the total fund has overstated and liability against gratuity is understated to that extent. 2. Advances and Deposits (refer to Note: 16) includes an amount of Tk. 502,823,450 which was paid for acquisition of land as advance payment to the Owner between 2013 to 2016. The said land had been registered in 2016, favoring the company. The concerned accounting policies of the company and (cont.2)
- Query Response
In response to a DSE query dated April 15, 2018, the Company has informed that there is no undisclosed price sensitive information of the Company for recent unusual price hike of shares.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.