annual report 2016 annual report 2016 03.02 market value cost a. southeast bank capital services...

Annual Report 2016105

1.31 Contingent Liabilities and Contingent Assets:A Contingent asset is disclosed when it is a possible asset that arises from the past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. A contingent liability is disclosed when it is a possible obligation that arises from the past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity. The company has contingent liabilities which have been disclosed under note no. 16 as per BAS-37: Contingent assets and contingent liabilities. A contingent assets is disclosed as per BAS-37, where an inflow of or economic benefits is probable. A contingent liability is disclosed unless the possibility of an outflow of resources embodying economic benefits is remote. The Company has no such contingent asset need to disclose as per BAS-37.

1.32 Impairment

(a) Financial AssetsAccount receivable and other receivables & advances are assessed at each reporting date to determine whether there is any objective evidence of impairment. Financial assets are impaired if objective evidence indicates that a loss event has occurred after the initial recognition of the asset and that the loss event had a negative effects on the estimated future cash flows of that asset, that can be estimated reliably. Objective evidence that financial assets are impaired can include default or delinquency by a debtor, indications that a debtor or issuer will enter bankruptcy. In financial assets, there are no indications of impairment in accordance with "Para - 12, BAS - 36".

(b) Non-Financial AssetsAn asset impaired when its carrying amount exceeds its recoverable amount. The company assesses at each reporting date whether there is any indication that an asset may be impaired. If any such indication exists, the company estimates the recoverable amount of the asset. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use. Carrying amount of the assets is reduced to its recoverable amount by recognizing an impairment loss if, and only if, the recoverable amount of the asset is less than its carrying amount. Impairment loss is recognized immediately in profit or loss, unless the asset is carried at revalued amount. Any impairment loss of a revalued asset shall be treated as a revaluation decrease. In non-financial assets, there are no minimum indications of impairment in accordance with "Para - 12, BAS - 36".

1.33 Research, Development and Experimental Costs:In compliance with the requirements of BAS-38 "Intangible Assets" research, development and experimental costs are usually absorbed as revenue charges as and when incurred, as being not that much material in the company's and /local context.

1.34 Events after reporting period:Events after the reporting period that provide additional information about the company's position at the date of Statement of Financial Position or those that the going concern assumption is not appropriate are reflect in the financial statements. Event after reporting period that are not adjustment events are disclosed in the notes when material.

Annual Report 2016 106

2015-2016 2014-2015

02.00 Property, Plant and Equipment :A) At Historical Cost Opening Balance (At Cost) 483,595,929 474,254,253 Add: Addition during the year 4,294,864 9,341,676

Closing balance (At cost) 487,890,793 483,595,929 Less: DepreciationOpening Balance of Depreciation 307,870,444 285,921,964 Charged during the year 21,410,383 21,948,480

Accumulated depreciation 329,280,827 307,870,444

Written down value as on 30.06.2016 158,609,966 175,725,485

B) At Revaluation Opening Balance 166,981,322 166,981,322 Add: Addition during the year - -

Closing balance 166,981,322 166,981,322 Less: DepreciationOpening Balance of Depreciation 5,875,124 4,895,937 Charged during the year 979,187 979,187

Accumulated depreciation 6,854,312 5,875,124

Written down value as on 30.06.2016 160,127,010 161,106,198

Total Carrying Value (A+B) 318,736,976 336,831,683

03.00 Investment :Investment in Non-quoted Shares (Note - 03.01) 16,825,396 106,825,396 Investment in Marketable Securities (Note - 03.02) 47,383,926 16,270,913 Fixed Deposit (FDR), Agrani Bank, WASA Branch 280,775 266,716

64,490,097 123,363,025 The above Investments has been considered as good by Directors.

03.01 Investment in Non-quoted Shares

C & A Textiles Ltd. - 50,000,000 - 40,000,000

16,825,396 16,825,396

16,825,396 106,825,396

ICB Islamic Bank Ltd.

Amount in Taka

Property, Plant and Equipment are disclosed at cost/revalued amount less accumulated depreciationconsistently. ATA Khan & Co. Chartered Accountants, 67 Motijheel C/A,Dhaka -1000 revalued the Land &Land Development and Building of the company as on June 30, 2009 to reflect the fair value (prevailingmarket price) of those classes of assets. They applied “Current Cost Method” to determine the fair value ofthose assets which are in compliance with BAS-16 Property, Plant and Equipment”.

Olympic Accessories Ltd.


03.02 Market Value CostA. Southeast Bank Capital Services Ltd.Green Delta 1st Mutual Fund 5,800,000 10,000,000 Bangladesh Submarine Cable 15,208 3,471 Sub -Total: 5,815,208 10,003,471

B. Bank Asia Securities Ltd.Ambe Pharma Ltd. 182,448 173,445 Fine Foods Ltd. 66,520 867,356

135,388 460,506 541,000 802,960 163,930 277,129

National Tubes Ltd. 115,200 155,981 138,068 191,215 612,716 3,412,695 104,000 463,400 22,368 23,586 287,100 698,610 223,980 213,798

2,592,718 7,740,682

C. Jahan Securities Ltd.

C & A Textiles Ltd. 38,976,000 36,036,050

38,976,000 36,036,050

47,383,926 53,780,203

2015-2016 2014-201504.00 Inventories:

Raw Materials 10,793,832 12,037,514 Packing Materials 19,044,162 18,548,916 Work - in - process 4,160,483 2,817,377 Finished Goods 17,686,699 16,318,030 Promotional Materials 3,840,306 3,317,224 Printing & Stationery 660,258 515,978 Goods in transit 19,559,069 14,109,327

75,744,809 67,664,366 05.00 Accounts Receivables & others

123,860,821 114,561,139 Other Receivables 41,770,031 -

165,630,852 114,561,139

Accounts Receivables

Amount in Taka

Grand Total:

Sub - Total:

Peoples Leasing & Financial Services Ltd.

Megna Pet Industries

Sub - Total:

Apex Spining & Kniting Ltd.

Rahima Food Ltd.

Pragati Insurance

Styelcraft Limited

Malek Spinning Mills Limited

30.06.2016Investment in Marketable Securities:

Mithun Knitting

Eastern Housing Ltd.

The above investment in traded shares that are held for long term investment purpose and classified as available for sale financial assets by the management. Initially these are recognised at cost which are their fair value at the transaction date and subsequently these are measured at fair value and presented as non-current asset. Any fair value changes are unrealized gain/(loss) from the above investments are recognized in other comprehensive income.

Aging of the above balance is as follows:Below 180 days 123,860,821 114,561,139 Above 180 days - -

123,860,821 114,561,139

This is unsecured, considered good and is falling due within one year. Classification schedule as required by schedule XI of Companies Act 1994 are as follows:


2015-2016 2014-2015

123,860,821 114,561,139

- -

- -

- -

- -

- -

123,860,821 114,561,139

(i) The company did not make any provision against accounts receivable as accounts receivable aregood and the amount is not a material item.

(ii) There was no amount due by the Directors (including Managing Director), Managing Agent of the company and any of them severally or jointly with any other person.

(iii) There was also no other amount due by associate undertakings.

II. Accounts Receivable considered good in respect of which the company holds no security other than the debtor personal security

III. Accounts Receivable considered doubtful or bad

VI. The maximum amount of receivable due by any director or other officer of the company

Total

V. Accounts Receivable due by Common management

I. Accounts Receivable considered good in respect of which the company is fully secured

Amount in Taka

IV.Accounts Receivable due by any director or other officer of the company


06.00 Advances, Deposits & Prepayments : 2015-2016 2014-2015The amount consists as follows :Advances :Travel and Other Advances 175,553 229,249 Advance paid to Suppliers 1,535,237 1,699,497 Motor Cycle Advance 4,640,449 3,509,176

Advance Against Cash Purchase 877,771 661,751 Advance Income Tax Note 06.01 50,063,323 49,953,901

Sub-Total: 57,292,333 56,053,574 Deposits :VAT Deposit 481,163 38,093 Security Deposit 6,024,023 8,271,626 Earnest Money 1,070,125 807,660 Collection & Other Advance 7,340,010 4,597,751

Sub-Total: 14,915,321 13,715,130

Grand Total: 72,207,654 69,768,704

06.01 Advance Income Tax :Opening Balance 49,953,901 45,854,447

raey eht gnirud ecruos ta detcuded dna diap xat emocnI 14,933,839 15,006,841 Adjustment for assessment year 2014-2015 (14,824,417) (10,907,387) Closing Balance 50,063,323 49,953,901

07.00 Cash and Cash Equivalents:

The amount consists as follows:( a) Cash in Hand/Imprest Cash 987,237 973,911 ( b) Balance at Brokerage House 29,776 27,860 ( c) Cash at Bank (Annexure - "B") 9,759,159 6,005,678 Current Account (Main) 2,973,531 2,677,009 Current Account (Collection) 1,132,298 2,457,109 Short Term Deposit Account 5,653,330 871,560

Total 10,776,173 7,007,449

Amount in Taka

The receivables are unsecured but considered good. No amount was due by the Directors,Managing Agent, Managers and any other officers of the company and any of them severally orjointly liable with any other person except Motor cycle advance, travel and other advance.


2015-2016 2014-2015

08.00 Share Capital :

a) Authorized Capital :100,000,000 Ordinary Shares of Taka 10/- each 1,000,000,000 1,000,000,000

b) Issued, Subscribed and Paid-up Capital:

20,359,760 Ordinary Shares of Taka 10/- each 203,597,600 203,597,600

c) Distribution Schedule:

No. of

Shareholders

Up to 500 shares 2,513 1,015,952 4.99% 5.85%501 to 5,000 shares 1,991 1,622,673 7.97% 9.19%5,001 to 10,000 shares 308 1,427,219 7.01% 10.66%10,001 to 20,000 shares 102 2,060,408 10.12% 7.25%20,001 to above 118 14,233,508 69.91% 67.05%

Total 5,032 20,359,760 100% 100%

d) Shareholding Position as on 30 June 2016 is as follows:

Sponsors 4 8,268,400 40.61% 40.61%Foreign Investors 23 743,131 3.65% 0.03%Institutional 191 6,610,814 32.47% 23.63%General Public 4,814 4,737,415 23.27% 35.72%

Total 5,032 20,359,760 100% 100%

Amount in Taka

Range of holding in number of shares

The detailed schedule showing the number of shareholders and their shareholding inpercentage has been disclosed below as a requirement of the Regulation 37(3) of Dhaka StockExchange and Chittagong Stock Exchange.

Percentage of Shareholding

30.06.2016


30.06.2015

Composition of Shareholding

Number of Shares held


30.06.2016


30.06.2015

Nos. of Shareholders

Number of Shares held


2015-2016 2014-201509.00 Reserves:

148,499,160 149,233,550 Fair value changes in investment (note: 09.02) (6,396,277) (2,258,136)

142,102,884 146,975,414

09.01Opening Balance 149,233,550 149,967,941

(979,187) (979,187)Adjustment for deferred tax on Revaluation Surplus 244,797 244,797 Closing Balance 148,499,160 149,233,550

09.02Opening Balance (2,258,136) (10,206,609)Fair Value adjustment for sale of Securities (8,757,281) (1,137,445)Fair Value Gain/(Loss) on Marketable Securities 4,619,140 9,085,918 Closing Balance (6,396,277) (2,258,136)

10.00 Liabilities for Other Finance :

Orion Pharma Ltd. - 32,839,122 Kohinoor Chemical Company (BD) Ltd. 3,655,021 5,824,876

3,655,021 38,663,998

11.00 Deferred Tax Liabilities :

Opening Balance 8,468,493 26,344,144 Prior year adjustment (100,350) (14,972,463) Restated Opening Balance 8,368,143 11,371,681 Addition / Adjustment during the year (1,949,968) (2,658,391)

(244,797) (244,797) Closing Balance 6,173,378 8,468,493

Reconciliation of Deferred tax liabilities/(assets):

Tax base

Taxable/ (Deductible)

temporary difference

Taka Taka(a) As at 30 June 2016

Property, plant and equipment 89,996,006 57,135,914 Unabsorbed depreciation 74,547,457 (74,547,457) Net taxable temporary difference (17,411,543)

(4,352,886)

Property, plant and equipment - 42,105,056 Net taxable temporary difference 42,105,056

10,526,264 6,173,378

Deferred tax liabilities/(asset) @ 25%


Revaluation surplus on Property, Plant and Equipment (Note: 09.01)

Revaluation surplus on Property, plant and equipment

Depreciation on revalued asset

Amount in Taka

Fair value changes in investment

Carrying amount on the date of statement of

financial position

Taka

-

Adjustment with revalution Surplus on PPE

At Historical Cost 147,131,920

At Revaluation42,105,056


Tax base

Taxable/ (Deductible)

temporary difference

Taka Taka(a) As at 30 June 2015

Property, plant and equipment 98,910,252 65,337,187

Unabsorbed depreciation 74,547,457 (74,547,457) Net taxable temporary difference (9,210,270)

(2,302,568)

Property, plant and equipment - 43,084,244 Net taxable temporary difference 43,084,244

10,771,061 8,468,493

12.00 Provision for current tax 2015-2016 2014-2015

Opening Balance 41,297,084 45,280,358 Add: Provision made during the year (Note: 23.01) 13,499,601 8,530,648

(15,892,906) (12,513,922) Closing Balance 38,903,779 41,297,084

13.00 Short Term Borrowings (Secured) :

The amount consists as follows :

- 24,057,323

168,013,240 207,391,342 57,372,000 8,310,385

- 280,843 105,181,116 127,147,539

330,566,356 367,187,432

14.00 Trade Creditors :

29,376,503 28,545,833

29,376,503 28,545,833

Taka

Agrani Bank C.C. (Pledge) - 554570, WASA Branch

Suppliers

-

Carrying amount on the date of statement of

financial position

43,084,244 At Revaluation

Amount in Taka

Less: Adjustment for assessment year 2014-2015


Agrani Bank (LTR), WASA Branch- 4786Agrani Bank C.C. (Hypothecation) - 54566, WASA Branch

Loan Against Purchase of Marketable SecuritiesBangladesh Finance & Investment Co. Ltd.

At Historical Cost 164,247,439


The deferred tax liability includes deferred tax implications on revaluation surplus of Non Current Assets. The company has unabsorbed tax depreciation balances and the management believes that the company will be able to utilize these in near future. An amount of taka 1,00,350 has adjusted as prior year adjustment for depreciation rate change of office equipments.

The management of the entity intends to settle the amount on a net basis and the amount of the taxes originates from the same authority which is in compliance with BAS-12 "Income taxes"

These loans are secured by mortgage on land and building, hypothecation of plant and machinery, raw and packing materials, work-in-process, finished stocks and book debts respectively. The interest rate of C.C (Hypo) is 15%.


2015-2016 2014-201515.00 Accrued Expenses :

This consists as follows :

Utilities 1,031,435 229,957 Salary and Wages 15,235,775 20,719,828 Workers' Profit Participation Fund 5,926,725 1,535,573 Audit Fee 172,500 115,000 Dividend Payable 5,651,271 17,223,925 Others Payable 6,704,544 7,744,163

34,722,250 47,568,446

16.00 Contingent Liabilities : 37,798,752 37,798,752

Amount in Taka

The balance is as per last accounts. The above claim has been raised by the VAT authority against the company for Value Added Tax (VAT) amounting to Tk. 37,798,752. In this respect the Company filed a Writ Appeal against the said claim to the High Court Division which is awaiting for final decision.


2015-2016 2014-201517.00 Revenue :

Gross Sales 858,263,809 780,599,209 Less: VAT Payment 128,137,178 117,762,093 Net Sales 730,126,631 662,837,116

18.00 Cost of Goods Sold :The amount consists as follows :

Raw Materials Consumed Note- 18.01 115,527,465 104,301,626 Packing Materials Consumed Note- 18.02 230,313,745 210,817,978

345,841,210 315,119,605 Work in process-Opening 2,817,377 1,832,065 Work in process-Closing (4,160,483) (2,817,377) Total Consumption 344,498,104 314,134,293 Manufacturing Overhead Note- 18.03 103,469,811 92,033,398 Cost of Production 447,967,914 406,167,691 Finished Goods-Opening 16,318,030 16,423,689 Finished Goods-Closing (17,686,699) (16,318,030)

446,599,245 406,273,350 Cost of Physician Sample (4,925,259) (4,587,121)

Cost of Goods Sold 441,673,986 401,686,229

18.01 Raw Materials Consumed :The amount consists as follows :

Opening Stock 12,037,514 13,525,878 Add : Purchase 114,283,783 102,813,262 Less : Closing Stock (10,793,832) (12,037,514)

115,527,465 104,301,626

18.02 Packing Materials Consumed :The amount consists as follows :Opening Stock 18,548,916 23,255,908 Add : Purchase 230,808,991 206,110,986 Less : Closing Stock (19,044,162) (18,548,916)

230,313,745 210,817,978

Amount in Taka

This represents sale of 8,658,409 units consisting of 36 products in 2015-2016, as against 9,090,159 units in 2014-2015 of 36 products.


2015-2016 2014-201518.03 Manufacturing Overhead :

The amount consists as follows :Wages, Allowances and Bonus 39,665,275 33,640,339 Contributory Provident Fund 1,140,197 1,083,267 Spare parts 1,849,577 2,622,383 Gas 7,401,780 5,378,164 Electricity 511,774 646,243 Fuel and Lubricant 746,581 664,915 Security Guard Expenses 592,422 591,470 Repair & Maintenance 11,422,551 10,758,873 Research, Test and Analysis Expenses 36,889 28,795 Uniform & Liverise 475,006 35,275 Nitrogen Gas 1,989,500 2,331,050 Travelling & Conveyance 2,034,092 1,642,751 Entertainment 1,036,999 293,086 Workers Food Expenses 7,672,798 7,128,837 Misc. Expenses 745,466 716,234 Fees & Taxes 159,049 78,657 Newspaper & Preiodicals 6,468 6,216 Telephone, Postage & Courier 463,788 431,389 Insurance Premium 626,175 939,263 Carriage Inwards 528,947 512,889 Printing & Stationery 2,558,618 2,498,435 Reagent and QC Chemical 1,607,173 - Depreciation 20,198,687 20,004,867

Total: 103,469,811 92,033,398 19.00 Administrative Expenses :

The amount consists as follows :Salaries, Allowances and Bonus 17,397,329 16,308,156 Contributory Provident Fund 627,011 594,168 Postage, Telephone and Telegram 101,445 117,963 Printing & Stationery 198,922 186,058 Fuel & Vehicle Maintenance 108,930 290,745 Advertisement & Publicity 1,438,884 2,671,560 Travelling & Conveyance #REF! 1,214,418 1,107,542 Repair & Maintenance 24,126 16,138 Bank Charges & Commission 202,875 167,450 News Paper & Periodicals 6,180 6,643 Software & IT Consultancy 1,836,750 1,039,775 Entertainment 771,824 366,357 Audit Fee 115,000 57,500 Corporate governance audit fees 57,500 57,500 Rent, Rates and Taxes 1,025,735 440,255 Sundry Expenses 341,880 415,332 Insurance Premium 334,066 307,229 A.G.M. Expenses 1,414,853 1,319,400 Uniform & Liverise 46,320 159,220 Gas bill 147,958 88,483 Renewal and registration 10,491 7,865 Depreciation 450,269 436,320

Total: 27,872,767 26,161,659

Amount in Taka

Annexure - "A"

Annexure - "A"

Habib Habib

.


20.00 Selling and Distribution Expenses : 2015-2016 2014-2015The amount consists as follows :Salary, Allowances and Bonus 117,945,613 102,261,684 Contributory Provident Fund & Gratuity 3,298,698 3,461,949 Carrying and Delivery Expenses 11,564,845 11,737,416 Sales Force Expenses 4,704,489 5,766,312 Postage, Telephone and Telegram 549,413 519,050 Training & Conference Expenses 1,949,224 1,908,508 Office Rent-Depot 5,552,549 4,782,143 Printing & Stationery 2,343,222 2,248,085 Product Development Expenses 23,589 62,513 Fuel & Vehicle Maintenance 1,030,115 820,397 Travelling & Conveyance 2,010,550 2,328,448 Product Sample 4,925,259 4,587,121 Promotional Expenses (Pad & Literature) 3,354,360 5,491,694 Entertainment 767,413 73,271 Bank Charges & Commission 1,207,630 963,094 Renewal and registration 364,294 295,751 Depreciation 1,740,614 2,486,480

Total: 163,331,878 149,793,916

21.00 Financial Expenses :

The amount consists as follows :

29,374,685 30,827,013

336,213 7,190,694 6,758,957 -

LIM, Agrani Bank Ltd. (WASA Corpt. Branch, Dhaka) - 158,279 Interest & Charge on Marketable Securities - 84,684 Interest on BD Finance Loan 17,949,827 12,402,918

Total: 54,419,682 50,663,589

22.00 Non Operating Income :The amount consists as follows :

Sale of Scrap 558,704 2,359,897 Bank Interest 68,121 33,794 Interest on FDR 16,177 35,295 Capital Gain/(Loss) on Marketable Securities 80,496,869 (1,136,897)Dividend Income 493,047 6,216

Total: 81,632,918 1,298,304

Cash Credit (H)-147, Agrani Bank Ltd. (WASA Corpt. Branch, Dhaka)Cash Credit (P)-543, Agrani Bank Ltd. (WASA Corpt. Branch, Dhaka)

Amount in Taka

Interest on LTR Loan, Agrani Bank Ltd.

Annexure - "A"


23.00 Income tax provisionThe amount consists as follows :

Current Tax Note- 23.01 (13,499,601) (8,530,648) Defferred tax 1,949,968 2,658,391

(11,549,634) (5,872,257)

23.01 Current TAX

25 % tax on taxable profit 37,544,594 9,386,149 8,529,405 5 % on gain on sale of markeatable securities 80,496,869 4,024,843 - 20 % tax on dividend income 493,047 88,609 1,243

Total: 118,534,510 13,499,601 8,530,648

Minimum tax

Calculation of gross receiptRevenue:Local 730,126,631 662,837,116

Other incomeSale of Scrap 558,704 2,359,897 Interest income 68,121 33,794 Interest on FDR 16,177 35,295 Capital Gain/(Loss) on Marketable Securities 80,496,869 - Dividend Income 493,047 6,216 Total Gross Receipts 811,759,549 665,272,317

Minimum Tax (.60% On Total Gross Receipts) 4,870,557 1,995,817

Income tax provision to be higher between tax at regular rate on income and minimum tax on grossreceipts (U/S 82C of ITO 1984). Hence tax at regular rate has accounted for as it is higher than theminimum tax.

2015-2016 2014-2015Amount in Taka


2015-2016 2014-2015

24.00 Earning Per Share (EPS):The computation is given below:

Basic Earning Per ShareNet Profit After Tax 106,984,876 28,251,578 Ordinary shares outstanding during the year 20,359,760 20,359,760

5.25 1.39

25.00 Production Capacity and Yearly Production in 2015-2016

2015-2016 2014-2015 2015-2016 2014-2015 2015-2016

Intravenous Fluids and Injections

11.14 12.00 9.23 9.22 82.85%

26.00 Events After Reporting Period:

The Board of Directors Meeting held on 08 November 2016 had recommended dividend ……….

% ………… for the year ended 30 June 2016 for placement before the shareholder for approval at33rd AGM of the company.

Except the fact above, there is no material events after the reporting date that are not adjusting

events came to management attention which may be needful for the stakeholders.

2014-2015

76.83%

Item

Amount in Taka

During the year no share was issued, hence calculation of weighted average number of share was not required.

Quantity in million

Capacity UtilizedProduction Capacity Yearly Production


27.00

Name of Related Party Relationship Nature of Transaction

Opening Balance as on

01.07.2015

Addition during the

year

Adjustment during the

year

Closing Balance as on

30.06.2016

Orion Pharma LimitedCommon Director/

Shareholder

Inter company

loan/ Receivable

(32,839,122) - 74,609,031 41,770,031

Kohinoor Chemical Co. (BD) Ltd. Sister Concern

Inter company

loan(5,824,876) (507,520) 2,677,375 (3,655,021)

(38,663,998) (507,520) 77,286,406 38,115,010

28.00 General:

28.01

28.02 Claims not Acknowledged:

28.03 Credit Facilities not Availed:

28.04 Commission, Brokerage or Discount Agents Sales:

28.05 Directors Responsibility Statements:

28.06 Directors Remuneration:

28.07 Employee Details:

28.08 Share based payments:

28.09 Rounding off :

There is no credit facilities available to the Company but not availed as on 30.06.2016 under any contract, other than trade credit available in the ordinary course of business.

ii) At the end of the year, there were 794 employees in the company.

No commission, brokerage or discount was incurred or paid by the Company against sales during the period from 1, July 2015 to 30 June 2016.

During the year total remuneration paid to directors is NIL

The Board of Directors takes the responsibility for the preparation and presentation of these financial statements.

i) During the year there were 712 employees employed for the full year and 111 employees less than the full year at aremuneration of Taka 3,000 per month and above.

No share based payments has been made during the year.

There is no claim against the Company not acknowledged as debt as on 30.06.2016

Related Party Transactions:

There was no capital expenditure contracted but not incurred or provided as on 30.06.2016

The Company has entered into transactions with other entities that fall within the definition of related party as contained

in BAS-24 "Related Party Disclosures". The Company opines that terms of related party transactions do not signigicantly

differ from those that could have been obtained from third parties. Total transactions of the significant related parties as

at 30 June 2016 were as follows:

Total:

There is no material capital expenditure authorized by the board but not contracted for as on 30.06.2016

Capital Expenditure Commitment:

Amounts appearing in these financial statements have been rounded off to the nearest Taka and, wherever considerednecessary.

Sd/- Sd/- Sd/- Sd/-Chief Financial Officer Company SecretaryDirectorManaging Director


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30

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2016

As

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0 Ju

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016


30.06.2016 30.06.2015 Current Account (Main)

1 Agrani Bank, WASA Branch A/C 10067/797459 1,161,457 1,018,334 2 National Bank, Mohakhali Branch A/C 8769 20,382 292,507 3 Rupali Bank, TCB Bhaban Branch A/C 10-707-6/7073 68,731 70,376 4 Sonali Bank, Farmgate Branch A/C 10902 1,414,361 982,292 5 Sonali Bank, Tejgaon Branch A/C 2765/69 82,408 83,708 6 Social Islami Bank Ltd. Principle Branch A/C 39415 31,937 33,812 7 Rupali Bank, Vulta branch A/C 130 6,780 8,505 8 First Security Bank, Gulshan Br. A/C 1160 187,475 187,475

2,973,531 2,677,009 Current Account (Collection)

9 Agrani Bank, Chittagong Branch A/C 621 3,150 3,150 10 Agrani Bank, Bogra Branch A/C 1234 1,277 1,277 11 Agrani Bank, Barisal Branch A/c 1803 249 249 12 Agrani Bank, Rangpur Branch A/C 4406 877 877 13 Agrani Bank, Comilla Branch A/C 53032 70 70 14 Agrani Bank, Faridpur Branch A/C 00184023 73,767 21,763 15 National Bank, Bogra Branch A/C 443/1566 163,659 473,105 16 National Bank, Barisal Branch A/C 28582/0381 26,049 20,162 17 National Bank, Sylhet Branch A/C 0067191 22,222 44,015 18 National Bank, Mymensingh Branch A/C 2994/2958 142,387 218,111 19 National Bank, Rangpur Branch A/C 39455/6654 95,051 334,094 20 National Bank, Faridpur Branch A/C 1233 869 869 21 Agrani Bank, Chaumuhani Branch A/C 679075 133,456 172,227 22 Agrani Bank, Khulna Branch A/C 3229/0684 1,347 299,207 23 National Bank, Dinajpur Branch A/C 8725/3677 94,358 118,490 24 National Bank, Tangail A/C 3241/2606 29,018 189,937 25 National Bank Moulvibazar A/C 247152/1748 79,629 10,153 26 Agrani Bank Kustia A/C 2982 (1179) 4,202 1,247 27 Agrani Bank N.Gonj A/C 6747 (1647) 41,637 65,292 28 National Bank Cox's Bazar A/C 3979/23480 82,323 86,776 29 Agrani Bank, BSCIR Br. Comilla A/C 4596634 11,614 149,140 30 National Bnk,CDA Avenue Br.Chittagong A/C 96172 53,847 162,523 32 Sonali Bank Rajshahi Branch A/C 1449 71,241 84,376

1,132,298 2,457,109 Short Term Deposit Account

33 Agrani Bank, WASA Branch A/C 798900 5,420,260 479,476 34 Shahjalal Bank Ltd.Main Branch. Dilkusha Br. A/C 00821 67,464 21,559 35 National Bank A/C 727/728/729 15,000 15,000 36 Bank Asia A/C 0039 150,606 355,525

5,653,330 871,560

9,759,159 6,005,678

ORION INFUSION LIMITEDSCHEDULE OF CASH AT BANK

For the Year Ended 30 June 2016

Annexure - "B"

Total:

Amount in TakaSl. No.

Name of the Bank & Branch Account No.


ORION INFUSION LIMITED153-154, Tejgaon Industrial Area, Dhaka-1208.

PROXY FORM

l/We _________________________of ___________________________________________being a member of Orion Infusion

Limited hereby appoint Mr ./Mrs.________________________ of _______________________as my proxy to attend and vote for me/us on my/our behalf at the 33rd Annual General Meeting of the Company to be held on Tuesday, the 20th December, 2016 at 11:00 a.m. at Officers Club, 26, Baily Road, Ramna, Dhaka. and at any adjournment thereof.

As witness my/our hand this________________________________ day of _____________________________2016 signed by the said in presence of ______________________________

___________________(Signature of the Proxy)

____________________________Signature of the Shareholder(s)

_________________ Register Folio/BO No. _______________________Signature of Witness Dated ______________________________________

Note: A member entitled to attend and vote at the General Meeting may appoint a proxy to attend and vote in his/her stead. The proxy form, duly stamped, must be deposited at the Registered Office of the Company not later than 48 hours before the time appointed for the meeting.

Signature Verified

__________________ Authorised Signatory

ORION INFUSION LIMITEDSHAREHOLDERS' ATTENDANCE SLIP

l/We hereby record my attendance at the 33rd Annual General Meeting of the Company to be held on Tuesday, the 20th December, 2016 at 11:00 a.m. at Officers Club, 26 Baily Road, Ramna, Dhaka.

Name of Member(s)_________________________________ Register Folio / BO No.__________________________________

holding of _________________________________________ ordinary Shares of Orion Infusion Limited.

______________________ ____________________________ (Signature of the Proxy) Signature of the Shareholder(s)

N.B.1. Please note that AGM can only be attended by the honourable shareholder or properly constituted proxy. Therefore,

any friend or children accompanying with honourable shareholder or proxy cannot be allowed into the meeting. 2. Please present this slip at the reception Desk.

RevenueStamp

Tk. 20.00/-

annual report 2016 annual report 2016 03.02 market value cost a. southeast bank capital services...

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