S. S. Steel Limited announcements
134 Dhaka Stock Exchange announcements for S. S. Steel Limited (SSSTEEL) since 2021: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2023 (52).
- The auditor of the company has given the \"Qualified Opinion and Emphasis of Matters\" paragraphs in the Auditor\'s Repo
The auditor of the company has given the \"Qualified Opinion and Emphasis of Matters\" paragraphs in the Auditor\'s Report of the company for the year ended June 30, 2023. To view the details, please visit: https://www.dsebd.org/Auditors_opinion/2023/dec/S_S_Steel_Limited_2023.pdf
- (Q1 Un-audited): Consolidated EPS was Tk. 0.02 for July-September 2023 as against Tk. 0.01 for July-September 2022; Cons
(Q1 Un-audited): Consolidated EPS was Tk. 0.02 for July-September 2023 as against Tk. 0.01 for July-September 2022; Consolidated NOCFPS was Tk. (0.17) for July-September 2023 as against Tk. (3.90) for July-September 2022. Consolidated NAV per share without revaluation was Tk. 21.56 as on September 30, 2023 and Tk. 21.50 as on June 30, 2023; Consolidated NAV per share with revaluation was Tk. 24.01 as on September 30, 2023 and Tk. 23.99 as on June 30, 2023.
- As per Regulation 16(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, the Company has informed that a meeting
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 21, 2023 at 6:30 PM to consider, among others, un-audited financial statements of the Company for the First Quarter (Q1) period ended September 30, 2023.
- Trading of the shares of the company will resume on 06.12.2023.
Trading of the shares of the company will resume on 06.12.2023.
- Trading of the shares of the company will remain suspended on record date i.e., 05.12.2023.
Trading of the shares of the company will remain suspended on record date i.e., 05.12.2023.
- Trading of the shares of the company will be allowed only in the Spot Market and Block transaction will also be settled
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 03.12.2023 to 04.12.2023 and trading of the shares will remain suspended on record date i.e., 05.12.2023.
- The company has informed that it has made a strategic decision to acquire the fixed assets of both Super Steel Limited a
The company has informed that it has made a strategic decision to acquire the fixed assets of both Super Steel Limited and Peninsula Steel Mills Limited, located at Shitakund, Kadamrasul, Chattogram. The fixed assets include Land (164.00 Decimal), Steel Structure Shed, Building, Capital Machinery, and Utility Connection, with a total estimated value of BDT 130.00 Crores. (cont.1)
- (Cont. news of SSSTEEL): This acquisition is part of company\'s commitment to enhancing production capacity, and it will
(Cont. news of SSSTEEL): This acquisition is part of company\'s commitment to enhancing production capacity, and it will result in an additional yearly capacity of 62,400 Metric Tons. With this expansion, the accumulated yearly capacity is expected to reach approximately 442,800 Metric Tons. The anticipated increase in production capacity aligns with the company\'s growth strategy and is projected to contribute significantly to the company\'s revenue. (cont.2)
The first part of this announcement is missing from the archive. - (Cont. news of SSSTEEL): The company estimated an annual revenue of approximately BDT 3,000.00 Crores, which has the pot
(Cont. news of SSSTEEL): The company estimated an annual revenue of approximately BDT 3,000.00 Crores, which has the potential to substantially boost the profitability of the company. To finance this strategic move, the invested amount will be sourced from the company\'s retained earnings and, in part, from financial institutions and banks through the company. (end)
The first part of this announcement is missing from the archive. - The Board of Directors has recommended 2\% Cash dividend to general shareholders other than sponsors and directors for t
The Board of Directors has recommended 2\% Cash dividend to general shareholders other than sponsors and directors for the year ended June 30, 2023. The Sponsors/Directors hold 104,473,775 shares out of total 328,633,200 shares of the company and General Shareholders hold 224,159,425 shares. Cash dividend payable to the General Shareholders is Tk. 44,831,884.91. (cont.1)
- (Continuation news of SSSTEEL): Date of AGM: 31.12.2023, Time: 2:00 PM, Venue: Digital Platform. Record Date: 05.12.2023
(Continuation news of SSSTEEL): Date of AGM: 31.12.2023, Time: 2:00 PM, Venue: Digital Platform. Record Date: 05.12.2023. The Company has reported consolidated EPS of Tk. 0.05, consolidated NAV per share (with revaluation) of Tk. 23.99, consolidated NAV per share (without revaluation) of Tk. 21.50 and consolidated NOCFPS of Tk. (2.46) for the year ended June 30, 2023 as against Tk. 1.87, Tk. 24.05, Tk. 21.41 and Tk. (4.04) respectively for the year ended June 30, 2022. (cont.2)
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 (16.11.2023) following its corporate declaration. However, the floor price shall be applicable accordingly.
- Dividend Declaration
(Continuation news of SSSTEEL): The company has also informed that the significant increase in Cost of Goods Sold (COGS) led to a decline in Earnings Per Share (EPS), mainly due to an increase in raw material prices, increased utility costs and devaluation of local currency. (end)
The first part of this announcement is missing from the archive. - Update of Information
The company has requested the Shareholders to check and update their BOID's Bank A/C details along with their Routing Number to get Dividends online through the BEFTN system. The Company also requested to provide a 12-digit e-TIN to BO A/C and get a tax deduction as per applicable law.
- 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 15, 2023 at 6:30 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2023.
- Emerging Credit Rating Limited (ECRL) has affirmed surveillance rating of the Company as \"A-\" in the long term and \"S
Emerging Credit Rating Limited (ECRL) has affirmed surveillance rating of the Company as \"A-\" in the long term and \"ST-3\" in the short term along with Stable outlook based on audited financial statements of the company up to June 30, 2022; 6 months unaudited financial statements of 2023 and other available information up to the date of rating declaration.
- Dividend Disbursement
The Company has informed that it has disbursed the cash dividend for the year ended June 30, 2022 to the respective shareholders.
- Regarding non-submission of Dividend Distribution Compliance Report
The Company did not submit Dividend Distribution Compliance Report as per Regulation-29 of the Dhaka Stock Exchange (Listing) Regulations, 2015 in connection with disbursement of the declared dividend for the year ended June 30, 2022. However, DSE has issued a query letter to the company in this regard.
- (Q3 Un-audited): Consolidated EPS was Tk. 0.009 for January-March 2023 as against Tk. 0.63 for January-March 2022; Conso
(Q3 Un-audited): Consolidated EPS was Tk. 0.009 for January-March 2023 as against Tk. 0.63 for January-March 2022; Consolidated EPS was Tk. 0.027 for July 2022-March 2023 as against Tk. 2.00 for July 2021-March 2022. Consolidated NOCFPS was Tk. 0.29 for January-March 2023 as against Tk. (0.37) for January-March 2022; Consolidated NOCFPS was Tk. (7.84) for July 2022-March 2023 as against Tk. 0.42 for July 2021-March 2022. (cont.)
- Q3 Financials
(Continuation news of SSSTEEL): Consolidated NAV per share (with revaluation) was Tk. 22.19 as on March 31, 2023 and Tk. 24.05 as on June 30, 2022. Consolidated NAV per share (without revaluation) was Tk. 19.80 as on March 31, 2023 and Tk. 21.41 as on June 30, 2022. (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 April 30, 2023 at 6:30 PM to consider, among others, un-audited financial statements of the Company for the Third Quarter (Q3) period ended March 31, 2023.
- (Q2 Un-audited): Consolidated EPS was Tk. 0.023 for October-December 2022 as against Tk. 0.69 for October-December 2021;
(Q2 Un-audited): Consolidated EPS was Tk. 0.023 for October-December 2022 as against Tk. 0.69 for October-December 2021; Consolidated EPS was Tk. 0.02 for July-December 2022 as against Tk.1.37 for July-December 2021. Consolidated NOCFPS was Tk. (8.13) for July-December 2022 as against Tk. 0.79 for July-December 2021. Consolidated NAV per share (with revaluation) was Tk. 24.09 as on December 31, 2022 and Tk. 24.05 as on June 30, 2022. (cont.)
- Q2 Financials
(Continuation news of SSSTEEL): Consolidated NAV per share (without revaluation) was Tk. 21.48 as on December 31, 2022 and Tk. 21.41 as on June 30, 2022. (end)
The first part of this announcement is missing from the archive. - Q1 Financials
(Q1 Un-audited): Consolidated EPS was Tk. 0.01 for July-September 2022 as against Tk. 0.73 for July-September 2021; Consolidated NOCFPS was Tk. (3.90) for July-September 2022 as against Tk. 0.54 for July-September 2021. Consolidated NAV per share (with revaluation) was Tk. 24.08 as on September 30, 2022 and Tk. 24.05 as on June 30, 2022; Consolidated NAV per share (without revaluation) was Tk. 21.45 as on September 30, 2022 and Tk. 21.41 as on June 30, 2022.
- Q2 Financials (Additional Information)
(Q2 Un-audited): Reason for deviation in NOCFPS: The company has further informed that a significant deviation in NOCFPS is caused by massive changes in working capital. During the period it has made more payments than the cash received.
- 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 March 05, 2023 at 06:30 PM to consider, among others, un-audited financial statements of the company for the First Quarter (Q1) and Second Quarter (Q2) period ended September 30, 2022 and December 31, 2022 respectively.
- The auditor of the S. S. Steel Limited has given the \"Qualified Opinion\" and \"Emphasis of Matter\" paragraphs in the
The auditor of the S. S. Steel Limited has given the \"Qualified Opinion\" and \"Emphasis of Matter\" paragraphs in the Auditor\'s Report for the year ended 30 June 2022. Basis for Qualified Opinion: 1) We refer to note no 21 and 21A of the separate and consolidated financial statements regarding Workers Profit Participation Fund (WPPF). As per the provisions made in section 234 of (cont.1)
- (Continuation news of SSSTEEL): Bangladesh Labour Act-2006 and guideline provided in Rules-2015 the opening (Tk. 83,277,
(Continuation news of SSSTEEL): Bangladesh Labour Act-2006 and guideline provided in Rules-2015 the opening (Tk. 83,277,994.00/-) and closing balance (Tk. 128,768,433.00/-) of WWPF account is not supported by separate bank account. The company does not have any trustee board in place for the maintenance of the account. We failed to trace the opening balance amount as well as current year addition (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): (Tk. 35,913,469.00/-) in this year. That was a departure from section 234 of Bangladesh
(Continuation news of SSSTEEL): (Tk. 35,913,469.00/-) in this year. That was a departure from section 234 of Bangladesh Labour Act-2006. 2) We refer to note no: 15.00 of the financial statements regarding Share Money Deposit which is Tk. 537,600,000.00/- (Tk. 403,000,000.00/- in 2021). The Company is a Public Interest Entity (PIE) as per 2(8) (KA) of Financial Reporting Act-2015 and Financial Reporting Council (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): notification no: 179/FRC/FRM/Proggapon/2020-01 dated 11 March, 2020. As a Public Interes
(Continuation news of SSSTEEL): notification no: 179/FRC/FRM/Proggapon/2020-01 dated 11 March, 2020. As a Public Interest Entity (PIE) the Company did violate Financial Reporting Council (FRC) notification no: 146/FRC/Proshason/Proggapon/2020/01 dated 11 February,2020 by not converting Share Money Deposit into lawful Share Capital within 06 (six) month period from the date of deposit of the amount. This event (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): considered material in respect of departure from applicable regulation and guideline (i.
(Continuation news of SSSTEEL): considered material in respect of departure from applicable regulation and guideline (i.e. Financial Reporting Act-2015 and FRC notification) in preparation and presentation of financial statements for the year ended 30 June, 2020. 3) We refer to note no: 07.00 regarding inventory and the opening balance is not free from material misstatement. The previous auditor did not attain inventory count (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): due to COVID-19 situation and we find no alternative means to ensure the closing value a
(Continuation news of SSSTEEL): due to COVID-19 situation and we find no alternative means to ensure the closing value and quantity held. Absence of appropriate supporting evidence, schedules and sequential documents to arrive at Net Realizable Value (NRV) for the closing inventory amount restrict our audit workings to decide whether there is any adjustment was required to declare the closing inventory free from material (cont.6)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): misstatement. The opening balances of inventory items also have impact on the estimated
(Continuation news of SSSTEEL): misstatement. The opening balances of inventory items also have impact on the estimated cost of goods manufactured. 4) We were unable to satisfy ourselves by alternative means concerning the opening balances regarding the capital Work in Progress (CWIP) note no: 6.00, Compliance with TDS and VDS against expenses. The opening balances are not free from error because last year\'s closing (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): balances were misstated as per auditors\' report. In current year, the company did not d
(Continuation news of SSSTEEL): balances were misstated as per auditors\' report. In current year, the company did not deduct TDS and VDS up to the mark under section 75(A), 108 and 108(A). There is no provision for these expenses in the financial statements either. 5) We refer to note no: 25.00 regarding revenue where the company presented VAT deduction from sales is Tk. 28,474,140.00/-. As per VAT return the company paid (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): the said amount but as per current applicable VAT rate and the quantity sold in current
(Continuation news of SSSTEEL): the said amount but as per current applicable VAT rate and the quantity sold in current year, additional provision is required at Tk. 2,000.00/- per Metric Ton. No provision has been made in respect of the additional amount which results in material understatement of liability. 6) The amount of under provision in tax expense in preceding year had not been adjusted in current year. As a result, the (cont.9)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): opening balance is still not free from error and the amount of under provision is Tk.22,
(Continuation news of SSSTEEL): opening balance is still not free from error and the amount of under provision is Tk.22,540,000.00/-. Emphasis of Matter: We refer to note no: 1.04, 3.28 and 33.01 regarding the new acquisition of Al-Falah Steel and Re-Rolling Mills Ltd., financial proposal made, approval of acquisition in EGM and transfer of consideration for the acquisition in current year. We also refer to note no: 3.23(d) (cont.10)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): regarding company\'s intention to introduce policy guideline for gratuity fund as per La
(Continuation news of SSSTEEL): regarding company\'s intention to introduce policy guideline for gratuity fund as per Labour Act-2006. Our opinion is not modified in respect of these matters. Note 1.04 - Subsidiary Companies: Al-Falah Steel and Re-Rolling Mills Limited: Al-Falah Steel and Re-Rolling Mills Limited (AFSRML), a subsidiary company of S. S. Steel Limited was incorporated on 4th April 2005, (cont.11)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): (incorporation no. C-56521(3204)/05) by the Registrar of Joint Stock Companies and Firms
(Continuation news of SSSTEEL): (incorporation no. C-56521(3204)/05) by the Registrar of Joint Stock Companies and Firms under the Companies Act, 1994. The registered office of the company is located at 84, Shahid Nazrul Islam Sarani, Zamal Iron Building, Dhaka-1100. In an extraordinary general meeting held on 20th February 2022 the board of directors decided to make an equity investment in AFSRML with a view to (cont.12)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): subscribe 99\% of its existing equity shares amounting Tk. 87.46 crore. AFSRML was acqui
(Continuation news of SSSTEEL): subscribe 99\% of its existing equity shares amounting Tk. 87.46 crore. AFSRML was acquired by S. S. Steel Limited on 5th March 2022. Consequently, the new management took the control over the company on the same date. Objective of the acquisition was to accelerate consolidated production of the company. AFSRML is a reputed steel industry in Bangladesh, engaged in the production of (cont.13)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): and selling of steel by its brand name and has capacity of around 64,800 metric tons per
(Continuation news of SSSTEEL): and selling of steel by its brand name and has capacity of around 64,800 metric tons per annum. Saleh Steel Industries Limited: Saleh Steel Industries Ltd. also subsidiary company of S. S. Steel Limited was incorporated as a private limited company vide certificate of incorporation no. C-5953(511)/1978 dated 11th March 1978, by the Registrar of Joint Stock Companies and Firms under the (cont.14)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): Companies Act, 1994. The registered office of the company is located at 85/R and 86/R, N
(Continuation news of SSSTEEL): Companies Act, 1994. The registered office of the company is located at 85/R and 86/R, Nasirabad, Industrial Area, Chittagong. Saleh Steel is acquired by S. S. Steel in 2020 with an objective to enhance its total production capacity. Saleh Steel is engaged in manufacture and sales of M.S. Deformed Bar of various grades (300w/40 Grade. 400w/60 Grade and 500w/TMT) from M.S. Billet, Ingot, (cont.15)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): Angles, Channels, Tees and all kinds of M.S. Structures under are-rolling mills. The Com
(Continuation news of SSSTEEL): Angles, Channels, Tees and all kinds of M.S. Structures under are-rolling mills. The Company produce M.S. Billets from scrap. The company has an annual production capacity of 86,000 metric tons. Note 3.28-Group Structure: Basis of Consolidation: S. S. Steel Limited (SSSL) has 12333101 holdings of share of the subsidiary company Saleh Steel Industries Limited(SSIL), and the percentage of (cont.16)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): holding is 96\%. S. S. Steel Limited (SSSL) has 28572 holdings of share of the subsidiar
(Continuation news of SSSTEEL): holding is 96\%. S. S. Steel Limited (SSSL) has 28572 holdings of share of the subsidiary company Al-Falah Steel and Re-Rolling Mills Limited, and the percentage of holding is 99\%. Subsidiary entity is controlled by S. S. Steel Limited (SSSL). Control exists when SSSL has the power to govern the financial and operating policies of the entity. In assessing control potential voting rights (cont.17)
The first part of this announcement is missing from the archive. - (Continuation news of SSSTEEL): that are presently exercisable are considered. Note 33.01-Goodwill arises from acquisiti
(Continuation news of SSSTEEL): that are presently exercisable are considered. Note 33.01-Goodwill arises from acquisition of Al-Falah Steel and Re-Rolling Mills Limited: The acquirer is S. S. Steel Limited. The acquiree is Al-Falah Steel and Re-Rolling Mills Limited. The date of acquisition is 5th March 2022. The percentage of voting rights is 99\%. The type of consideration is cash. The percentage of non-controlling interest is 1\%. (cont.18)
The first part of this announcement is missing from the archive. - Status of Stock dividend for the year ended June 30, 2022
Refer to their earlier news disseminated by DSE on 01.02.2023 regarding dividend declaration and approval of fund for business expansion, the company has further informed that they have not received any consent yet regarding their declaration of 8% Stock dividend for the year ended June 30, 2022.
- Qualified Opinion and Emphasis of Matter
(Continuation news of SSSTEEL): The amount of goodwill is 0.00. Note 3.23(d) -Gratuity Fund: The employees are entitled to gratuity fund benefit. The preparation and introduction of a detailed comprehensive policy guideline for gratuity fund is under progress. (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 23.02.2023 after record date.
- Suspension for Record date
Trading of the shares of the Company will remain suspended on record date i.e., 22.02.2023.
- 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 with cum benefit from 19.02.2023 to 20.02.2023 and trading of the shares will remain suspended on record date i.e., 22.02.2023.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (01.02.2023) 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 and approval of fund for business expansion
(Continuation news of SSSTEEL): iii) Bonus shares are not declared from capital reserve or revaluation reserve or any unrealized gain or out of profit earned prior to incorporation of the Company or through reducing paid up capital or through doing anything so that the post-divided retained earnings become negative or debit balance. (end)
The first part of this announcement is missing from the archive. - Reschedule of Board Meeting under LR 19(1)
The Company has further informed that, the Board meeting under LR 19(1) of the Dhaka Stock Exchange (Listing) Regulations, 2015, will now be held on January 31, 2023 at 7:00 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.