Titas Gas Transmission and Distribution PLC announcements
332 Dhaka Stock Exchange announcements for Titas Gas Transmission and Distribution PLC (TITASGAS) since 2008: results, dividends, board meetings, AGMs, record dates and other price-sensitive information. Showing 2022 (26).
- (Q1 Un-audited): EPS was Tk. 0.33 for July-September 2022 as against Tk. 0.65 for July-September 2021; NOCFPS was Tk. 1.
(Q1 Un-audited): EPS was Tk. 0.33 for July-September 2022 as against Tk. 0.65 for July-September 2021; NOCFPS was Tk. 1.50 for July-September 2022 as against Tk. (0.59) for July-September 2021. NAV per share was Tk. 74.49 as on September 30, 2022 and Tk. 74.16 as on June 30, 2022. (cont.)
- Q1 Financials
(Continuation news of TITASGAS): The company also informed that EPS has been decreased as Bangladesh Energy Regulatory Commission has re-fixed distribution margin and contribution to Pension Fund has been increased of the company. NOCFPS has been increased as collection of gas sales in respect of relative payments against purchase ability was higher than that of the previous year. (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 November 10, 2022 at 6:00 PM to consider, among others, un-audited financial statements of the company for the First Quarter (Q1) period ended September 30, 2022.
- Resumption after record date
Trading of the shares of the Company will resume on 06.11.2022 after record date.
- Suspension for Record date
Trading of the shares of the company will remain suspended on record date i.e., 03.11.2022
- 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 with cum benefit from 01.11.2022 to 02.11.2022 and trading of the shares will remain suspended on record date i.e., 03.11.2022.
- The auditor of the Titas Gas Transmission & Dist. Co. Ltd. has given the \"Qualified Opinion\" paragraphs in the auditor
The auditor of the Titas Gas Transmission & Dist. Co. Ltd. has given the \"Qualified Opinion\" paragraphs in the auditor\'s report for the year ended June 30, 2022. Qualified Opinion: a. Long-term liabilities as disclosed in (Note # 24) to the financial statements include customers\' security deposit of Tk. 2,610.24 crore as on 30 June 2022. The Head Office of the Company maintains control ledgers with the information received from zone offices. (cont.1)
- (Continuation news of TITASGAS): But during our audit at zone /RSO offices we found some differences which yet to be rec
(Continuation news of TITASGAS): But during our audit at zone /RSO offices we found some differences which yet to be reconciled. b. Due to delay in payment of bills by the bulk customers the Company calculates and charges penal interest on the bill amounts of the respective customers. As such a total amount of Tk. 80.98 crore has been recognized as interest income up to 30 June 2022 and included in Trade Receivables shown in (Note# 11). (cont.2)
The first part of this announcement is missing from the archive. - (Continuation news of TITASGAS): On the other hand, the Company accounted for meter rent and demand charges on its custo
(Continuation news of TITASGAS): On the other hand, the Company accounted for meter rent and demand charges on its customer namely, PDB for Tk 163.16 & EGCB Demand charges for Tk. 14.09 crore up to the year 2021-22. Further, the Company accounted for another income of Higher Heating Value (HHV) from its Private Power customers amounting to Tk. 38.84 crore up to the year 2021-22. The Company has been recognizing these income and receivables since the year 2002. (cont.3)
The first part of this announcement is missing from the archive. - (Continuation news of TITASGAS): Out of the said aggregated amount of Tk. 298.07 crore, there is no realization till dat
(Continuation news of TITASGAS): Out of the said aggregated amount of Tk. 298.07 crore, there is no realization till date. On a query we came to know that the said customers are not interested to pay such penal interest as well as meter rent, demand charges and high heating value which remain unrealized for long. As a result, there is a substantial doubt as regards realization of the said penal interest, meter rent and high heating value receivable which require full provision in the accounts. (cont.4)
The first part of this announcement is missing from the archive. - (Continuation news of TITASGAS): c. Receivable from Encashment of FDR (Note# 14) for Tk 58.61 crore as disclosed in inve
(Continuation news of TITASGAS): c. Receivable from Encashment of FDR (Note# 14) for Tk 58.61 crore as disclosed in investment in Fixed Deposit Receipt (FDR) with Padma Bank Limited (formerly known as \"The Farmers Bank Limited\"). Because of weak credit worthiness of the said bank there is a substantial doubt as regards realization of the said investment which require full provision in the accounts. But necessary provision in this regard has not been made in the accounts. (cont.5)
The first part of this announcement is missing from the archive. - (Continuation news of TITASGAS): d. The carrying amount of inventories as shown in the statement of financial position a
(Continuation news of TITASGAS): d. The carrying amount of inventories as shown in the statement of financial position as on 30 June 2022 is Tk. 208.77 crore. But the accounting policies of the Company state that inventories are valued at cost which is a non-compliance with International Accounting Standard (IAS) 2: Inventories. IAS 2 requires valuation of inventories at the lower of cost and net realizable value. Physical verification of inventories done at 30 June 2013 identified dead stock worth (cont.6
The first part of this announcement is missing from the archive. - (Continuation news of TITASGAS): Tk. 10.44 crore and obsolete stock worth Tk. 3.33 crore by the inventory committee at t
(Continuation news of TITASGAS): Tk. 10.44 crore and obsolete stock worth Tk. 3.33 crore by the inventory committee at that time. But the Company did not make any adjustment in the accounts for the said items. Further, the Company conducted physical verification of inventories as on 30 June 2022. It identified huge quantities of dead and obsolete items but could not determine the value of such inventories. As a result, the value of inventories as on 30 June 2022 may include huge quantities (cont.7)
The first part of this announcement is missing from the archive. - (Continuation news of TITASGAS): of dead and obsolete items which could not be quantified thereof due to lack of informa
(Continuation news of TITASGAS): of dead and obsolete items which could not be quantified thereof due to lack of information. Thus, the carrying amount of inventories of the Company as on 30 June 2022 appears to be overstated. e. As per subsidiary loan agreement (SLA) between the Government of the Republic of Bangladesh and Titas Gas Transmission and Distribution Company Limited (TGTDCL), the Company has received Tk. 52.18 crore as equity and recognized (cont.8)
The first part of this announcement is missing from the archive. - (Continuation news of TITASGAS): it as share money deposit. As per Gazette Notification No. 146/FRC/Adm./SRO/2020/01 dat
(Continuation news of TITASGAS): it as share money deposit. As per Gazette Notification No. 146/FRC/Adm./SRO/2020/01 dated 02 March 2020 by Financial Reporting Council (FRC), the capital received as share money deposit or whatever the name which is included in the Equity part of any company that cannot be refunded and the said amount shall be converted into share capital within 06 (six) months from the date of such receipt. (cont.9)
The first part of this announcement is missing from the archive. - Dividend Declaration
The Board of Directors has recommended 10% cash dividend for the year ended June 30, 2022. Date of AGM: 29.11.2022. Time: 03:30 PM, Venue: Digital Platform. Record Date: 03.11.2022. The Company has also reported EPS of Tk. 3.21, NAV per share of Tk. 74.16 and NOCFPS of Tk. 0.30 for the year ended June 30, 2022 as against Tk. 3.50, Tk. 72.57 and Tk. (1.11) respectively for the same period of the previous year.
- Price Limit Open
There will be no price limit on the trading of the shares of the Company today (13.10.2022) following its corporate declaration.
- Qualified Opinion
(Continuation news of TITASGAS): Further, such share money deposit shall be considered in calculation of Earnings per share. However, the outstanding amount of such share money deposit stands at Tk. 257.97 crore as at 30 June 2022. But the company has not converted this Share Money Deposit into the share capital of the company as per the instruction given by FRC. (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 October 12, 2022 at 3:15 PM to consider, among others, audited financial statements of the Company for the year ended June 30, 2022.
- Regarding Distribution and Transmission Charges (Correction)
(Correction): Refer to their earlier news disseminated by DSE on 30.06.2022 regarding Distribution and Transmission Charges, the Transmission charge would be BDT 0.4778 instead of BDT 04778 for per cubic meter. Other information will remain unchanged.
- Regarding Distribution and Transmission Charges
The Company has informed that Bangladesh Energy Regulatory Commission has issued a Directive (No. 2022/09 dated June 04, 2022) mentioning that Distribution charge has been determined BDT. 0.1300 for per cubic meter (Price Rate Directive No. 8.5) and Transmission charge has been determined BDT. 04778 for per cubic meter (Price Rate Directive No. 8.6, Annexure- Kha) applicable for its consumers.
- Q3 Financials
(Q3 Un-audited): EPS was Tk. 0.62 for January-March 2022 as against Tk. 0.69 for January-March 2021; EPS was Tk. 2.07 for July 2021-March 2022 as against Tk. 2.12 for July 2020-March 2021. NOCFPS was Tk. (3.45) for July 2021-March 2022 as against Tk. (4.41) for July 2020-March 2021. NAV per share was Tk. 72.82 as on March 31, 2022 and Tk. 72.57 as on June 30, 2021. Significant change in NOCFPS due to relative payments against purchase liability was lower than that of the previous period.
- 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 26, 2022 at 2:30 PM to consider, among others, un-audited financial statements of the company for the Third Quarter (Q3) period ended March 31, 2022.
- Q2 Financials
(Continuation news of TITASGAS): The Company has also informed that the significant change in NOCFPS is basically due to the relative payments against purchase liability was lower than that of previous period. (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 January 30, 2022 at 7:00 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period ended December 31, 2021.
- Dividend Disbursement
The Company has informed that it has disbursed the cash dividend for the year ended on June 30, 2021 to the respective shareholders.
Source: Dhaka Stock Exchange announcements. Some posts before 2014 have no title, and 2014–2020 coverage is incomplete.