Read more Eggs >>


Reviewed by
(0)

"Which associated with the after are assets of commercial? banking institutions? I. Reserves. Ii. Loans. Iii. Deposits."

Location : | Business :

RECORDS TO YOUR REPORTS FOR THE ENDED JUNE 30, 2003
3 year. MONEY AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS REPORTS IS RECEIVED AT RATES WHICH RANGE FROM 2 percent TO 5 percent
4. SHORT-TERM LOANS 4.1. These loans that are represent customers for a time period of as much as 12 months on mark-up basis and are usually guaranteed by means of lien on Certificates of Investment. The rate of mark-up ranges from 14% to 21.5percent per year.

4.2. These generally include cash market placements with different banking institutions as well as other institutions that are financial. Return on these placements ranges from 5% to 13per cent.
5. ASSETS throughout the current 12 months, the business offered four government securities for Rs 182.288 million. The amortised price of these federal federal government securities ended up being Rs 159.394 million as well as the revenue in the disposal of those securities amounted to Rs 22.894 million.

The administration made a decision to offer these securities to be able to realise the gain arising on these securities underneath the reduced rate of interest environment.

As at June 30, 2003 the staying investment of this business in federal federal government securities amounted to Rs 52.634 million.

This investment has been reclassified as ‘held for trading’ and it is calculated at reasonable value. An increase of Rs 12.946 million happens to be credited to your revenue and loss account in respect of the investment. There aren’t any assets that are financial as ‘held to readiness’ at June 30, 2003.

5.1. INFORMATION ON ASSETS IN SHARES/CERTIFICATES OF LISTED COMPANIES/MODARABAS 6. THE RETURN ON INDEXED TERM FINANCE CERTIFICATES RANGES FROM 12 per cent TO 18 percent
7. IMPROVEMENTS, BUILD UP, PREPAYMENTS ALONG WITH OTHER RECEIVABLES 7.1. The utmost aggregate amount due through the chief executive and professionals at the conclusion of any thirty days through the year ended up being Rs 873,685 (2002: Rs 623,685) and Rs 81,302 (2002: Rs 229,232) correspondingly.
7.2. SUPPLY FOR OTHER RECEIVABLES 8. LONG-TERM LOANS – CONSIDERED GOOD The above loans consist of a quantity of Rs 6,668 (2002: Rs 936,200) outstanding for a time period of significantly more than 36 months.

These loans have already been supplied to workers for sale of cars and buy of household and therefore are repayable between three to a decade. Mark-up on these loans is charged at prices including 2 percent to 6 per cent per year.

The utmost aggregate amount due from the executive that is chief professionals at the conclusion of any month through the year had been Rs 864,200 (2002: Rs 1,728,200) and Rs 398,847 (2002: Rs 172,538) correspondingly.
9. Web INVESTMENT IN LEASES 9.1. The above mentioned includes the term that is following Certificates issued by Pakland Cement Limited (PCL) under a scheme of arrangement sanctioned by the tall Court of Sindh against rent https://guaranteedinstallmentloans.com facilities provided because of the business: 9.2. THE INNER PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE CHIEFLY CONSIST OF 9% TO 20per cent PER YEAR
9.3. MINIMAL LEASE PAYMENTS RECEIVABLE 9.4. PROVISION FOR POTENTIAL LEASE LOSSES 10. FIXED ASSETS 11. FUNDS BELOW MARK UP ARRANGEMNETS 11.1. The facilities readily available for short-term finance amounted to Rs 85 million (2002: Rs 75 million) and carry mark-up which range from Re 0.0890 to Re 0.0945 per Rs 1,000 each day. These facilities are repayable on different times by August 15, 2003.

As well as this an un-utilised center for operating finance offered by a commercial bank amounted to Rs 50 million (2002: Nil). The price of mark-up about this finance is Re 0.3014 per Rs 1,000 each day. The purchase pricing is payable by June 30, 2003.
12. CREDITORS, ACCRUED AS WELL AS OTHER LIABILITIES 12.1. Amount because of Saudi Pak Industrial and Agricultural Investment Company (Private) Limited, an undertaking that is associated at the season end amounted to Rs 3,940 (2002: Rs 514,783).
13. LONG-TERM BUILD UP These represent security deposits gotten from lessees under rent agreements and they are adjustable on expiration regarding the particular rent durations.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up prices on these funds depend on the yield on treasury bills/SBP discount rates and therefore are modified on half annual foundation.

The mark-up rates on these funds depend on the weighted average of this final three cut-off prices of this five 12 months Pakistan Investment Bonds (PIBs), and are also modified on half-yearly foundation.

14.1. The facilities are guaranteed by hypothecation of particular leased assets and associated rent rentals. The facilities had been utilised for disbursement against leasing contracts executed by the organization.

14.2. LIABILITY ACCORDING OF TERM FINANCE Transaction expense incurred on dilemma of Term Finance Certificates II happens to be modified through the associated liability prior to the requirements for initial recognition of monetary liabilities specified in Global Accounting Standard 39, ‘Financial Instruments: Recognition and Measurement’.

14.3. Term Finance Certificates II are guaranteed by a primary and exclusive fee over certain present and future leased assets and their associated receivables.
15. CERTIFICATES OF INVESTMENT

The business has released certificates of investment beneath the authorization given because of the authorities.

These certificates of investment are for durations which range from a couple of months to five years and return on these certificates varies from 5.00 to 7.50 per cent per annum. Present readiness of long-lasting certificates of investment amounting to Rs. 110,732,000 (2002: Rs 88,163,000) is roofed liabilities that are undercurrent short-term certificates of investment.
16. ISSUED, SUBSCRIBED AND PAID-UP-CAPITAL The Authorised Share Capital as at June 30, 2003 quantities to Rs. 400,000,000 (2002: 400,000,000) split into 40,000,000 (2002: 40,000,000) ordinary stocks of Rs. 10 each.
17. RESERVES 17.1. The contingency book is produced in respect regarding the need raised by the riches Tax Officer for business resource Tax of Rs 2,000,000 together with the extra income tax of Rs 557,589. The organization has filed a writ petition into the tall Court of Sindh from this demand.

17.2. Statutory reserve represents earnings put aside to adhere to the Prudential Regulations for NBFCs undertaking the company of Leasing.

17.3. The reserve for deferred taxation is developed according to what’s needed associated with the Circular No. 16 given by the Securities and Exchange Commission of Pakistan on September 9,1999.

The liability that is unrecognised of business for deferred taxation as at June 30, 2003 quantities to Rs Nil (2002: Rs 16.284 million).
18. COMMITMENTS 19. MONEY FROM FINANCE LEASE OPERATIONS 20. MONEY ON OPPORTUNITIES 21. DIFFERENT MONEY 22. FINANCIAL AS WELL AS OTHER CHARGES 23. ADMINISTRATIVE AND OPERATING COSTS 23.1. SALARIES, ALLOWANCES AND BENEFITS INCLUDE RS. 1,533,473 (2002: RS 1,230,807) IN RESPECT OF STAFF RETIREMENT ADVANTAGES
24. DIRECT PRICE OF WORKING LEASES 25. TAXATION

The taxation cost when it comes to year that is current minimal cost at 0.5% of revenues.
26. STAFF PENSION GRATUITY

The most recent valuation that is actuarial of gratuity investment was performed as at June 30, 2003. The fair worth of this fund’s assets and liabilities in the valuation date that is latest were the following: Projected Unit Credit Method using the next significant assumptions had been employed for the valuation for the Fund: 26.1. The cost of opportunities produced by the employees your your retirement funds operated by the business according to their audited records as at June 30, 2003 is really as follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The aggregate quantity charged within these makes up about remuneration including all advantages, towards the Chief Executive and Executives is really as follows: Certain executives are given with free usage of business maintained automobiles.

The aforementioned remuneration of leader relates to the ex-Chief Executive Officer of this business whom ceased to keep workplace w.e.f. April 30, 2003.

Keep encashment can be payable to him according to the regards to their work agreement.
29. EARNINGS PER SHARE 30. MONEY GENERATED FROM OPERATIONS 31. CASH AND MONEY EQUIVALENTS

Comments are closed.

Trust level : 0 (Vote now)
Agree (0)   /   Disagree (0)
Toggle Footbar