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Tue, Jul 25th 2017, 15:56,    DSE NEWS    
(Continuation news of BIFC): capital of the company is Tk. 1,006,799,440.00 indicates doubtful as a going concern entity and there cast a doubt to see company as going concern in the foreseeable future. 2. Out of total outstanding amount of Tk. 8,773,730,633.00 an amount of Tk. 7,533,878,259.00 is c
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Tue, Jul 25th 2017, 15:56,    DSE NEWS    
(Continuation news of BIFC): Tk. 316,716,841.00 which is 60.75% of total equity. 8. As per Bangladesh Bank DFIM Circular no-13, Dated 26 October 2011; Every Financial Institution has to conduct minimum four (04) audit committee meetings in a financial year. But during the year the company did not fo
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Tue, Jul 25th 2017, 15:56,    DSE NEWS    
(Continuation news of BIFC): institution. Provided that any financial institution may subject to its application and on consent of Bangladesh Bank, expend or use up to 50% of its paid-up capital and reserves for the acquisition and holding of the above mentioned kind of shares. But the company did n
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Tue, Jul 25th 2017, 15:56,    DSE NEWS    
(Continuation news of BIFC): in FID circular No-6, dated 06 November 2003 and FID Circular-2, Dated: 10 November 2004 as on 2,3,4,5,7,9,10,11,12,14 November 2016. 7. Violation of Financial Institution Act-1993. As per Financial Institution Act-1993, Section-16; No Financial Institution shall expend
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Tue, Jul 25th 2017, 15:56,    DSE NEWS    
(Continuation news of BIFC): basis of their total term deposit for the month of November 2016 (1st two weeks, 2nd two weeks) and December 2016 (1st two weeks, 2nd two weeks) with a provision of minimum 2.0% on daily basis of the same total term deposit as on 24, 27 and 28 September as well as 30 and
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Tue, Jul 25th 2017, 15:56,    DSE NEWS    
(Continuation news of BIFC): securities documents etc. for verification. 4. Taxation: Deferred Tax: The company did not calculate the deferred tax on revaluation reserve as per BAS 12 "Income Tax" Paragraph 15 and 20. Asset revaluation reserve came to Taka 403,425,667.00. As a resu
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Tue, Jul 25th 2017, 15:56,    DSE NEWS    
(Continuation news of BIFC): represents 71.04% of total outstanding balance. All of these loans/leases are classified as Bad loss. (B) The company disbursed Loans and Advances Tk. 163,446,424.00 to various concerns of Biswas Group which stood at Taka 208,419,131.00 as on 31 December 2016. This amoun
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Tue, Jul 25th 2017, 15:56,    DSE NEWS    
(Continuation news of BIFC): having a shortfall of Tk. 271,952,110.00 and a consequent effect in the EPS and NAV. 3. Loans and Advances: (A) The company has allowed loans and advances to various concerns of Sunman group during the year without following the rules and regulations of loan granting pol
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Tue, Jul 25th 2017, 15:56,    DSE NEWS    
(Continuation news of BIFC): in financial statements of the company. This less provision has been made defying FID circular No. 06 dated 20 August 2006. The effect of such short provision overstated profit and adverse on EPS. 2. Interest Suspense: According to FID circular No. 06 dated 20 August 20
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Tue, Jul 25th 2017, 15:56,    DSE NEWS    
(Basis for Qualified Opinion and Emphasis of Matter): The auditor of the company has given the following "Basis for Qualified Opinion and Emphasis of Matter" in the audit report of the company for the year ended on 31 December 2016: Basis for Qualified Opinion: 1. Short Provision a
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Tue, Jul 25th 2017, 15:40,    DSE NEWS    
(Continuation news of MIDASFIN): to retained earnings from statutory reserve account, which if not been transferred, the balance in retained earnings/(loss) account would have been Taka (247.35) million instead of existing Taka (127.35) million. (end)

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Tue, Jul 25th 2017, 15:40,    DSE NEWS    
(Emphasis of Matter): The auditor of the company has given the following "Emphasis of Matter" paragraph in the audit report of the company for the period ended on 31 December 2016 (18 months period) Emphasis of Matter: We draw attention to the following matters though our opinion i
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Tue, Jul 25th 2017, 15:37,    DSE NEWS    
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 August 03, 2017 at 2:35 PM to consider, among others, un-audited financial statements of the Company for the Second Quarter (Q2) period e
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Tue, Jul 25th 2017, 15:33,    DSE NEWS    
Withdrawal of Authorized Representative: HAC Securities Ltd. (DSE TREC No. 74) has withdrawn one of its Authorized Representatives, Mr. Md. Daloaer Zahan, with immediate effect.

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Tue, Jul 25th 2017, 15:29,    DSE NEWS    
(Emphasis of Matter): the auditor of the company has given the following "Emphasis of Matter" paragraph in the audit report of the company for the year ended on 31 December 2016: Emphasis of Matter: The management needs to establish the Workers Profit Participation Fund (WPPF) comp
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