PRIVATE AND CONFIDENTIAL

JMI HOSPITAL REQUISITEMA]Y U FA C T URI IY G LIM I TE D

?i_!::::!::!:!!:!*::.For the Year ended June 50, 201f

G. KIBRIA & CO.CHARTERED ACCOUNTANTSSADHARAN BIMA SADAN (sTH FLOOR)

24-25, DILKUSHA COMMERCIAL AREADHAKA-1 OOO, BANGLADESH

956807 1, 957 07 17, 957 5324880-2-9553630kibria03@hotmail.comgkibria@gkibriaandco.comwww.gkibriaandco.com

TEL OFFFAXE-mail

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I

d,.$;5."*-*:*& co'

An association oi legally independenl accountlng frms worldwide

IIIDEPENDENT AI]DITORS' REPORTTo

The Shareholders of JMI HOSPITAL REQUISITE MANUFACTURING LTD.

We have audited the accompanying Financial Statement of JMI HOSPITAL REQUISITEMANUFACTURING LTD. ("Tire Company') which comprises the Statement of Financial Positionas at 30 Jurrc2017, and the related Statement of Profit or Loss and Other Comprehensive Income,Statement of Changes in Equity, Statement of Cash Flow for the year then ended, and a summary ofsignificant accounting policies and other explanatory information.

Management's responsibility for the financial statement

Management is responsible for the preparation and fair presentation of these financial statements inaccordance with Bangladesh Accounting Standards @ASs) and Bangladesh Financial ReportingStandards @FRSs), The Companies Act.1994 and other applicable laws and regulations, and for suchintemal control as management determines is necessary to enable the preparation of financialstatements that are free from material misstatement, whether due to fraud or eror.

Auditor's responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. Weconducted our audit in accordance with Bangladesh Standards on Auditing (BSA). Those standardsrequire that we comply with relevant ethical requirement and plan and perform the audit to obtainreasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amount and disclosuresin the financial statements. The procedures selected depend on our judgment, including theassessment of the risks of material misstatement of the financial statements, whether due to fraud orerror. In making those risk assessments, we consider intemal control relevant to the entity'spreparation and fair presentation of the financial statements in order to design audit procedures thatare appropriate in the circumstances, but not for the purpose of expressing an opinion on theeffecfiveness of the entity's intemal control. An audit also includes evaluating the appropriateness of;accounting principles used and the reasonableness of accounfing estimates made by management, as

well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basisfor our opinion.

Opinion

In our opinion, flre financial statements present fairly in all material respect the financial posifion ofJMI HOSPITAL REQUfSITE MANUFACTURING LTD as at 30 June 2017 and its financialperformance and its cash flows for the year than ended in accordance with Bangladesh AccountingStandards @ASs) and Bangladesh Financial Reporting Standards @FRSs), the Companies Act 1994,and other applicable laws and regulations.

Sadharan Bima Sadan (5th Floor), 24-25, Dilkusha Commercial Area , Dhaka-1000, Bangladesh.

Phone: 880-2-9568 07 t, 880-2-9 57 07 17, 880-2-9 57 5324, F ax: 880-2-95 53 630E-mail: kibria03@hotmail.com, gkibria@gkibriaandco.com, Web :gkibriaandco.com

An indcpcndent member ol

An independent membcr ol

G.KIBRIA& CO.Chartered Accountants An assoc ation of legally independent accounting firms worldwlde

We also report that:

a) we have obtained all the information and explanations which to ttre best of our knowledge and

belief were necessary for the purpose of our audit and made due verification thereof;

b) in our opinion, proper books ofaccount as required by law have been kept by the Company so

far as it appeared from our examination of those books;

c) the Company's Statement of Financial Position, Statement of Profit or Loss and OtherComprehensive lncome dealt with notes 1 to 47 by the report are in agreement with the booksof accounts and retums; and

d) the expenditure was incurred for the purposes of the Company's business.

q'&*'G. KIBRIA & CO.Chartered Accountants.

Place:DhakaDate:t 5 ffiT 2017

Sadliaran Bima Sadan (5th Floor), 2,1-25, DilkLrsha CommercialArea . Dhaka-1000, Bangladesh.

Phone: 880-2-95 6807 1, 880-2-9 57 01 17, 880-2-9575 324, F ax : 880-2-9553630E-mail: kibriaO3@lhotmail.con.r, gkibria@gkibriaandco.com. Web :gkibriaandco.com

JMI HOSPITAL REQUISITE MANUFACTURING LTD.7/A, SHANTIBAG, DHAKA-12 17

Statement of Financial PositionAs at Iune 30. 2017

ParticularsASSETS

Non-Current AssetsProperty, Plant & Equipment

Current AssetsInventoriesAdvance, Deposit & PrepaymentsAccounts & Other ReceivableInvesflrent in Shares

Cash & Cash EquivalentsInter Company ReceivableInvestment in Project : SutureTotal Assets

EQUITY& LIABILITIESEqurtyShare Capital

Share PremiumTax Holiday ReserveRevaluation ReserveRetained Earnings

Share Money DepositAdvance Against Equity-lCB

Non-Current LiabilitiesProject LoanTerm LoanDeffered Tax LiabilityLease Finance (Non-current maturity)

Current LiabilitiesLease Finance (Current maturity)WorHng Capital Loan-CC(HypoJLiability Against ImportAccounts & Other PayableLoan from Director's & OthersTax Payables

04

050607

0809

9.01BDT

10

t772

13

l415

t616.01

T7

18

18.0119

20272223

951,338,719440,176,488477,872,065

31,,439,142

4

7,O2o,BO4

795,944,58326,002,356

7,756,976371,076

43O,814,529406,482,091

23,000,4841,954

579,972,056708,067

441,819,922

84,789,79276,776,100

7,756,97627,187,205

,796

BDT _3,M7 eS5,7M_ ___2,filrfl,658

form the integral part of Financial StatementsAs per our report annexed.

-WteAG. KIBRIA & CO.

Chartered Accountants

s ocT 20n

fAmount in BDT'l

TN"t";l

1,572,989,435 1,264,934,702

299360,588,555236,334,687360,680,306

2,998,104335,369,436

73,892,261134,402,950

_j,077255,734

956298,412,705794,269,530295,465,469

7,996,232719,646,743

7

_z,filrg,658_

1,832,881,219750,000,000

540,000,00095,782,736

220,630,382227,068,701

1,171,973,O73480,000,000

48,348,287225,778,5777L8,479,845

6,708299,959,722

Accompanying

Managing Director

Particulars

Sales Revenue

Cost of Goods Sold

Gross Profit/floss)

Operadng Expenses

Adminisffative Expenses

Selling & Distribution Expenses

Total Operating Expenses

Operating Profit

Financial Expense

Net ProfitAfter Financial Expenses

Income From Others Sources

Net Profit Before Taxation

Provision for Income Tax Expense

CurrentTax

Deffered Tax

Net ProfitAfter Taxation

26

27

As per our report annexe

Managing Director

<-;Ir)l-,r_/til u

G. KIBRIA & CO.

Chartered Accountants

JMI HOSPITAT REQUISITE MANUFACTURING LTD.

7/A, SHANTIBAG, DHAKA-1217

Statement of Profit or Loss and Other Comprehensive Income

For the Year Ended June 30. 2017

l;,;;a| ,urr,rrr,ronl

387,937,3O2

| 26,t21,476 |

66,O99,648

fAmount in BDT)

@|,o*r*-l F-r,,*-l823,330,958

1

24

25

321,837,654

(7O3,s29,791)

218,307,863

3,147,328

221,455,192

62,141,95A

8,438,658

LSO,B74,S76

the integral part of this Financial Statements

372,578,399

32,126,8t9

7

s2,tos,9l7

260,472,482

(r24,572,679)

135,899,803

748,942,591

37,434,026

12,262,944

99,241,620

Accompanying notes

73,042,788

IMI HOSPITAT REQUISITE MANUFACTURING LTD.

7/A" SHANTIBAG, DHAKA-1217

Statement of Profit or Loss and Other Comprehensive Income (Production)

For the Year Ended June30,2017

Particulars

Sales Revenue

Cost ofGoods Sold

Gross Profit/(Loss)

Operating Expenses

Administrative Expenses

Selling & Distribution Expenses

Total Operating Expenses

OperatingProfit

Financial Expense

Net Profit after financial Expenses

Income From Others Sources

Net Profit Before Taxation

Provision for Income Tax Expense

CurrentTax

Deffered Tax

Net Profit Affter Taxation

24

25

26

27

383,781,855

199,593,611

184,1814,244

t4,389,966

286,552

L4,676,51IJ

169,511,726

(85,558,124)

83,953,602

117,084,636

25,612,264

8,424,949

83,047,423

83,953,602

14,691,8,8O

12,252,589

57,009,133

StatementsAs per our report annexed.

ffi,*re,G. KIBRIA & CO.

Chartered Accountants

rqwlffTfu;t428,929,347

225,057,

203,A71,597

L7,092,186

837,273

17,923,459

185,948,138

(68,863,502J

1,L7,084,636

integral part of this

Managing Director

29

,MI HOSPITAT REQUISITE MANUFACTURING LTD.

7/A, SHANTIBAG, DHAKA-t217.

Statement of Profit or Loss and Other Comprehensive Income (Trading)

For the Year Ended lune 30,2077

Particulars

Sales Revenue

Cost of Goods Sold

Gross Profit/floss)

Operating Expenses

Administrative Expenses

Selling & Distribution Expenses

Total Operating Expenses

Operating Profit

Financial Expense

Net ProfitAfter Financial Expenses

Income From Otlers Sources

Net Profit Before Taxation

brovision for Income Ta- Expense

Current Tax

Deffered Tax

Net ProfitAfter Taxation

Managing Director

to4,37O,SS6 64,988,988

36,529,694 22,746,146

13,708 10,356

67,A27,754 ____42,23248?_

StatementsAs per our report annexed.

G. KIBRIA & CO.

Chartered Accountants

(Amountin BDTI

@-lGI| ,rr,,,rr,rnr,l

128,390,155

=,4| ,n,un ,rnul

37,4294OO

24

)<

26

27

30th fune-17

581,773,299

,707,594

1B'4,065,705

22,885,985

4A,776,188

13S,889,517

(34,666,289)

1o1,223,229

3,t47,328

90,960,755

(39,014,555J

51,946,200

\3,042,788

Accompanying riotes the integral part of this

JMI HOSPITAL REQUISITE MANUFACTURING LTD.7/A, SHANTIBAG, DHAM-12 17.

STATEMENT OF CHANGES IN EQUITY

For the Year Ended June 30, 2017

STATEMENT OF CHANGES IN EQUITY

For the Year Ended rune 30, 2016

Particulars Share CapitalShare

PremiumTil Holiday

Reserye.Share Money

DepositAdvance

Against EquityRewluation

SurplusRetained Earnings

Total amount inTaka

leginning ofthe Year'01.07.2016) 480,000,000 4534A,241 6,704 299,959,722 225,77a,517 71a,479,A45 1,t71,973,O73

;hare Issued 270,000,000 (299,9s9,722 (29,9s9,722)

levaluation Surplus

qdjustment forlevaluation Reserue

(4,s48,135. 4,548,135

Ia Holiday Reserye 46,833,855 (46,833,8ss

ihare Premium 540,000,000 540,000,000

Retum ofShare Money (6,708" (6,708)

),let Profit during the Year 750,874,576 1so,a74,576

4t tlle End ofthe Year 750,000,000 540,000,000 95,142,136 22O,6303A2 227,O64,701 \a32,AA\219

Particulars Share CapitalTuHoliday

Reserue.Share Mon€y

DepositAdEnce

Against EquityRevaluation

surplusRetainedEamings

Total amount inTaka

Beginning oftheYear

i01.07,2015199,430,000 74,766,440 776,725,508 299,959,722 229,966,O27 4A,O32,756 864,28O,2s3

ihare lssued 380,570,000 [176,118,800] 204,45].,200

Revaluation Surplus

Adjustment forRevaluation Reserue

(4,787,570) 4,7A7,570

Iax Holiday Reservc 33,581,441 [33,S81,441)

lntangible Income

Net Profit duringthe Year 99,241,620 99,241,620

At the End ofthe Year 480,000,000 4€344,247 6,704 299,959,722 225J7A,517 tta,479,a4s 1,177,973,O73

q4-e)G. KIBRIA & CO.

Chartered AccountantsManaging Director ,g'

,MI HOSPITAL REQUISITE MANUFACTURING LTD.7/A, SHANTTB AG, DH ARA- 121.7

Statement of Cash FlowsFor the Year ended June 30, 2017

ParticularsCash flow from operating activitiesCash Receipts from customers

Paid to suppliers and others

Income tax paid

Net cash generated from operating activities

Cash flow from investing activities

Investment in Shares

Acquisition of Non-current Assets

Net cash generated from investing activities

Cash flow from financing activities

Financing cost

Project loan paid

Term Loan received

Lease Finance received/[paid)-net off payment

Working capital loan paid

Cash received on share issue

Net cash generated from financing activities

Net cash Surplus,/(Depicit) for the year

Cash & cash equivalents atthe Beginning ofthe year

Cash & cash equivalents at the end ofthe year

948,635,1,37

(873,880,285J

(27,012,087)

47,742,765

767,298,762

(590,257,762)

(77,666,976)

153,380,624

(1,001,872)

(308,054,733)

(309,056,605)

(591,93 1l

(380,822,872)

(381,414,803)

{30,680,747)

[860,000J

440,015,922

347,709

(441,819,922)

510,0 3 3,5 70

477,O37,132

(12,722,890)

{77,790,000)

1,366,824

(41,741,000)

204,451,200

134,164,734

275,723,292

L19,646,144

(93,870,045J

213,576,L89

335,369,436 719,646,744

G. KIBRIA & co.Chartered

Accompanying notes

Managing Director

part of this Financial Statement

IMI HOSPITAL REQUISITE MANUFACTURING LTD.

7/A, SHANTTBAG, DHAKA-1217Notes to the Financial Statements For the Year ended lune 3O,2O17

1.00 The Company and its Activities:

1.01 AbouttheCompany:|MI Hospital Requisite Mfg. Ltd. flHRML) is a public Limited Company incorporated in Bangladesh under theCompanies Act 1994 on 20.08.2008. IHRML was incorporated as Pvt. Limited Company as on 20.08.2008 andsubsequently it is converted to Public Limited Company as on 30.11.2014. It is a joint venture company withRepublic of South Korea and has set up its plant at Vitikandi, Gazaria, under Munshigonj district It is a modernmedical instruments and hospital equipments manufacturing plant in Bngladesh.

1.02 Nature ofthe Business :

It is a modern medical instruments and hospital equipments manufacturing plant in Bangladesh and besides thatit has trading & distribution business of other medical instmments.

a) Manufacturing products:- IV cannula, scalp vein se! Blood transfusion set, Bulk Needle, IV infusion set, UrineDrainage Bag Drain Bag Priming Se1, Film Making, Plunger, Catheter.

b) Trading Products:- Latex Surgical Gloves, Latex examination gloves, Latex Foley Catheter, Male External Catheter,True Result Meter, True Result Twist Meter, True Balance 25's Strips, True Result 25's Strips, Plastic VacuumBlood Collection Tube, Glass Vacuum Blood Collection Tube, Blood Collection Needle, NIPRO Dialyzer Sureflu&NIPRO Dialyzer Elisio, NIPRO Blood Tubing Se! AVF Fistula Needle, NIPRO Dialysis Machine, Heart Stent-Coronary Stent- BMS, Coronary Stent-DES, PTCA Ballonne Catheter- NC, PTCA Ballonne Catheter- CTO, PTCA

Ballonne Catheter SC etc.

1.03 Registered Office:The registered office ofthe company is situated at 7/A" Shantibag Dhaka1277.

1.04 Factorv:The factory ofthe Company is situated at Vitikandi, Gazari4 Munshigonj, Bangladesh.

1.05 Number of Employees:The number of employee at the end ofthe year was 470.

2.00 Basis of Preoaration of Financial

2.01 Basis of Accounting :

The elements of financial statements have been measured on Historical Cost except Land and Building,which isstated at revalued amount, convention in a going concern concept and on accrual basis in accordance withgenerally accepted accounting principle and practice in Bangladesh in compliance with the Companies Act 1994,International Accounting Standards {lAS) and International Financial Reporting Standard (IFRS) as adopted byThe Institute ofChartered Accountants of Bangladesh (ICAB), being Bangladesh Accounting Standard (BASI andBangladesh Financial Reporting Standard (BFRSl.

2.02 Statement of Compliance:The financial statements have been prepared in compliance with the requirements of the Companies Act 1994,Securities & Exchange Rules 1987 and other relevant local laws as applicable and in accordance with theIntertanional Financial Reporting Standards (lFRSs) as adopted by The Institute of Chartered Accountants ofBangladesh (ICAB) as Bangladesh Financial Reporting Standards (BFRSs).

2.03 Presentation of Financial StatementslThe presentation of Financial Statements is in accordance with guidelines provided by BAS 1: Presentation ofFinancial Statements.The Financial Statements comprises of:

a) a Statement of Financial Position as at fune 30,2017;bJ a Statement of Profit or Loss and Other Comprehensive Income for the period ended June 30, 2017;cJ a Statement ofChanges in Equity for the period ended fune 30,2017;d) a Statement of Cash Flows for the period ended fune 3O,2O77;e) Notes, comprising summary of significant accounting policies and explanatory information.

2.04 ReportingPeriod:The financial statements cover the accounting year from July 01, 2016 to fune 30,2077 .

2,05 Authorization of Issue:

The financial statements have been authorized for issue by the Board of Directors on Odober 25,2017.

2.O7

2.OB

3.O2

3.2.1"

3.2.2

Comparative Information:Comparative Information has been disclosed in respect of the year June 30,2077 for all numerical information inthe financial statements and also the narrative and descriptive information where it is relevant for understandingofthe current period financial statements.Figures for the Comparative year have been re-arranged wherever considered necessary to ensure bettercomparability with the current Year.

Use of Estimates and fudgments:The preparation of financial statements in conformity with the BFRSs including BASs require management tomake judgements, estimates and assumptions that affect the application ofaccounting policies and the reportedamounts of assets, liabilities, income and expenses and for contingent assets and liabilities that require disclosureduring and at the date ofthe financial statements.Actual results may differ from these estimates. Estimates and underllng assumptions are reviewed on an ongoingbasis. Any revision of accounting estimates are recognized in the period in which the estimates is revised and inany future periods affected as required by BAS B: Accounting Policies, Changes in Accounting Estimates and

In particular, the key areas of estimation, uncertainty and critical judgements in applying accounting policies thathave the most significant effect on the amounts recognized in the financial statements include depreciation,inventory valuation, accrued expenses, reserves, contigencies and other payable,

GoingConcern:

The Company has adequate resources to continue in operation for foreseeable future. For this reason, the board ofdirectors continue to adopt going concern basis in preparing the financial statements. The current credit facilitiesand resources of the company provide sufficient funds to meet the present requirements of its existing businessesand oDerations.

Sigrrifi cant Accounting Policies:

The accounting principles and policies in respect of material items offinancial statements set out below have beenapplied consistently to all periods presented in these financial statements.

Revenue Recognition:

In compliance with the requirements of BAS 18: Revenue, revenue receipts from customers against sales isrecognized when products are dispatched to customers, that is, when the significant risk and rewards ofownership have been transferred to the buyer, recovery ofthe consideration is probable, the associated costs andpossible return of goods can be estimated reliably, and there is no continuing management involvement with thegoods.Revenue from sales is exclusive of VAT.Rental income is recognized when accrued on a time proportion basis.Interest income is recognized when accrued on a time proportion basis.

Propert5r, Plant & Equipment:

Recogrrition and Measurement:Property, Plant and Equipment are recognized, when and only when the necessary recognitions criteria set out in

BAS 16: Property, Plant & Equipment are met, means it is probable that future economic benefits associated with

the asset will flow to the Company and cost of the asset can be measured reliably. Items of property, plant and

equipment are measured at cost/revaluation less accumulated depreciation and accumulated impairment losses.

Cost includes expenditure that is directly attributable to the acquisition of the asset. The cost of self-constructedassets includes the cost of materials and direct labour, any other costs directly attributable to bringing the asset toa working condition for its intended use and the cost ofdismantling and removing the items and restoring the siteon which they are located if any.

Gains and losses on disposal of an item of property, plant and equipment are taken into account in face of Profit orLoss Statement by comparing the proceeds from disposal with the carrying amount of property, plant andequipment. When revalued assets are sold or disposed, the relevant amount included in the revaluation reserve istransferred to retained earnings.

Maintenance Activities:The company incurs maintenance costs for all its major items of property, plant and equipment Repair andmaintenance costs are charged as expenses when incurred.

Depreciation:Depreciation has been charged from purchase date on addition of fixed assets. Depreciation is computed using thereducing balance method appllng the rates so as to write off the assets over their expected useful lives. Theannual depreciation rates applicable to the principal categories are:

3.2.3

2.06

3.01

The company's poliry is to transfer excess depreciation of revalued assets are transferred from revaluationsurplus to retained earnings.

3.2,4 Retirements and Disposal:On disposal of fixed assets, the cost and accumulated depreciation are eliminated and gain loss on such disposal isreflected in the income statemen! which is determined with reference to the net book value of the assets and netsales proceeds.

3.3 LeasedAssets:In compliance with BAS 17: 'Leases', Lease in terms of which the company assumes substantiality all the risk andrewards of ownership are classified as finance leases and all other leases are classified as operating lease. Uponinitial recognition, the lease assets is measured at an amount equal to the lower of its fair value and the presentvalue of the minimum lease payment. Subsequent to initial recognition, the assets is accounted for in accordancewith accounting policy applicable to the assets.

3.4 Financiallnstruments:A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability orequity instrument of another entity. The company is recognising financial instrument in its financial statementswhen it becomes a party under the instrument.

3.4.1 FinancialAssets:Financial assets of the company include cash and cash equivalents, accounts receivable and other receivables, Thecompany initially recognizes receivable on the date they are originated. All others financial assets are recognizedinitially on the date at which the company becomes a party to the conffactual provisions of the transaction. Thecompany derecognizes a financial asset when and only when the contractual rights or probabilities ofreceivingthe cash flows from the asset expire or it transfer the rights to receive the contractual cash flows on the financialasset in a transaction in which substantially all the risk and rewards of ownership of the financial asset aretransferred.

3.4.1(a) Accounts Receivable:

Accounts receivable are created at original invoice amount less any provisions for doubtful debts. Provisions aremade where there is evidence of a risk of non-payment, taking into account aging previous experience andgeneral economic conditions. When an accounts receivable is determined to be uncollected it is written off, firstlyagainst any provision available and then to the statement of comprehensive income.

3.4.1(b) Cash and Cash Equivalents:Cash and Cash Equivalents are comprised of cash in hand and cash at bank that are readily convertible to known

amount ofcash and that are subject to an insignificant risk ofchange in value.

3.4.2 FinancialLiability:Financial liabilities are recognized initially on the transaction date at which the company becomes a party to thecontractual provisions of the liability. The company derecognizes a financial liability when its contractualobligations are discharged or cancelled or expire. Financial liabilities include payable for expenses, liability forcapital expenditure and other current liabilities.

3.5 Impairment:

(al FinancialAssets:

Accounts receivable and other receivables are assessed at each reporting date to determine whether there is anyobiective evidence of impairment Financial assets are impaired if objective evidence indicates that a loss eventhas occured after the initial recognition of the asset and that the loss event had a negative effects on theestimated future cash flows of that asset, that can be estimated reliably. Objective evidence that financial assetsare impaired can include default or delinquency by a debtor, indications that a debtor or issuer will enterbankruptcyetc. _z^\

Lar:d'Sevelcpmet

(b) Non-FinancialAssets:

An asset is 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 il 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.

3.6 Inventories:

Inventories are carried at the lower of cost and net realizable value as prescribed by IAS 2: Inventories. Cost isdetermined on weighted average cost basis. The cost of inventories comprises of expenditure incurred in thenormal course of business in bringing the inventories to their present condition and realizable value is based onestimated selling price less any further costs expected to be incurred to make the sale.

3.7 Provisions:

Provisions and accrued expenses are recognozed in the financial statements in line with the BangladeshAccounting Standards (BASJ 37 "Provisions, Contingent Liabilities and ContingentAssets" when:

- The company has a legal or constructive obligation as a result ofpast events.- It is probable that an outflow ofeconomic benefitwill be required to settle the obligations.'- A reliable estimate can be made of the amount of the obligations.

3.8 Income Tax Expenses:

Income tax expenses comprises of current and deferred tax. Income tax expenses is recognized in the Statement ofComprehensive Income and accounted for in accordance with the requirements of BAS 12: Income Tax.

CurrentTax

Current tax is the expected tax payable on the taxable income for the period/year and any adjustrent to taxpayable in respect of previous years.

Deffered Tax

Deferred tax is recognized on differences between the carrying amounts of assets and liabilities in the financialstatements and the corresponding tax bases used in the computation oftaxable profit and are accounted for usingthe balance sheet liability method. Deferred tax liabilities are generally recognized for all taxable temporarydifference. Deferred tax assets are generally recognized for all deductible temporary differences to the extent thatit is probable that taxable profits will be available against which such differences can be utilized. Deferred tax ischarsed or credited to the Statement of Comorehensive Income.

3.9 Interest Income:Interest income is recognized on accrual basis.

3,10 Borrowing Cost:

Interest and other cost incurred by the company in connection with the borrowings of funds are recognized as

expenses in the year in which they are incurred unless such borrowing cost related to acquisition/construction ofassets in progress that are capitalized as per BAS 23: 'Borrowing Costs',

3.11 Employee Benefits:The company maintains defined contribution plan for its eligible permanent employees. The eligibility isdetermined according to the terms and conditions set forth in the respective agreements/trust deeds.

3,42 ForeigrrCurrencyTransaction:

The financial records ofthe company are maintained and the financial statements are stated in Bangladesh Taka.Any foreign currency transactions are recorded at Bangladeshi taka after converting into Taka by the exchangerate rulling on the date of transaction and the year balance at foreign currency are converted into Bangladeshitaka at the exchange rate prevailing on the reporting date as per BAS-21: The effects of exchanges in foreigncurrency rate.

3.13 PayableandAccmals:Liabilities are recognized for amounts to be paid in future date for the goods and services received by theCompany up to fune 30, 2017 and incorporated in the Financial Statements.

3.14 ContingentLiability:

There was no claim against the company not acknowledge as debt as on 30 fune, 2017

3,15 EventsafterReportingPeriod:

Even after the reporting period that provide additional information about the company's position at the date ofStatement of Financial Position or those that indicate that the going concern assumption is not appropriate are

reflected in the financial statements. Events after reporting period that are not adjusting events are disclosed inthe notes when material.

3.16 FinancialRiskManagement

The Board of Directors has overall responsibility for the establishment and oversight ofthe Company's finanancialrisk management The responsibility also includes developing and monitoring the Company's risk managementpolicies. To assist the Board in discharging its oversight responsibility, management has been made responsiblefor identifiring monitoring and managing the Company's financial risk exposures.

3.17 Market Risk

Market risk is the risk that changes in market prices, such as foreign exchange rates, interest rates and equityprices will affect the Company's income or the value of its holdings of financial instruments. The objective ofmarket risk management is to manage and control market risk exposures within acceptable parameters whileoptimizing returns.

3.18 Price Risk

Price risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate because ofchanges in market price (other than those arising from interest rate risk or currency risk), whether those changes

are caused by factors speecific to the individual financial instrument or its issuer, or factors affecting all similarfinancial instruments traded in the market The company does not have any financial instrument that expose theprice risk.

Property, Plant & Equipment Tk 1,572,989,435The details of Fixed Assets Schedule has been shown in Annex- 2A.Factory:Balance as per last accountAdd : Addition during the yearAdd: Borrowing Cost

Less : Accumulated DepreciationSub Total:

The details of Fixed Assets Shedule has been shown in Annex- 1

B.Trading:Balance as per last accountAdd : Addition during the year

Less : Accumulated Depreciation

Sub Total:

Total ( A+B ): Written Down Value

Inventories: Tk 360,588,555The above balances are made up as follows:Raw & Packing MaterialsWork-in-ProcessFinished Goods

30.06.2017Taka

30.06.2016Taka

1,7t1,313,746143,433,900

1,377,095,403109,367,1,88

1,261,72A,2751,567,879,246

1,,915,306 864,480

5,110,189 3,206,447

Year end inventory counting were taken place by the management team as well as in the presence ofauditors and appropriate adjustment were made where applicable.

Advance, Deposit & Prepaymenh Tk 236,334,6A7The above balances are made up as follows:

Advance against Others :

Advance Against Construction MaterialsAdvance Against OthersAdvance Against Security DepositComilla Palli Biddut SamityLC Margin & Immatured LC

Advance Against Purchase

As per assessment ofdirectors, above balances are considered good and realisable within the due courseofoperation, There has no advances to employees, sister concern or related party.

295,465,469 220,390,4851,0t0,702,646 823,330,9581,306,168,115 '1,,043,721,443

945,487,809 748,255,974----360"680-366-----ni@

Subsequently the receivebles have been realized and ageing are as follows:Receiveble Ageing:Receiveble amount 0-30 Days

Receiveble amount 31-60 Days

Receiveble amount 61-90 Days

Receiveble amount 91-180 DaysTotal Receivable Amount 360,680,306 295,465,469

The above amounts are unsecured but good and have been subsequently realized. No provision was madefor bad debt during the year as there has no such requiremenl

-,nis,nAI zs,s+r,sss I

I z,ea+,srz I

I s,rea,soo II t+z,zso,e++ I

| +ez,tga I

_236,33!,687_

J,812,239,435 _Lzil,g3al0z_

f---lllr.-11"646,44?1-6s,s??NI +g,zrs,sze ll 33,3s6,477 I

I ns,zze,ssz ll rga,eze,ase I

_3E9Eg&55L _223,!12ros_

reAll"?::1m%nn41I rez,ssE,zssll $3,642,0441I zz,+e\zzall 26sst,Bs2lI z,zr:,,eoe ll s,goe,sog I

- z,tlol?AI $,zas;o+ I

I zo,sv,eez I

I s.re:,soo I

I De:rg,sea I

I eg,z+o I

_u!26e&_

I-- j-rrr-oet4otlf ---ssii7,N1I :rcsl:t,+to ll 33s,2s1,s84

|

| 35,040,267 ll 41,886,122 |

@f------icZu1I z,gs+,sza ll z,o++,zoo I

7,025,495 4,070,967

5.00

7.00 Accounts Receivable: Tk 360,680,306A/R Balances are made up as follows:Opening Balance

Add: Sales during the periodBalance after additionLess: Realisation during the periodClosing Balance

8.O0 Cash & Cash Equivalents: Tk 335,369,436The above balance are made up as follows:Cash in Hand:Cash in Hand (Factory)Cash in Hand fHead Office)

Cash at Bank:DBBLA/C#339t4lBcB, cD# 001020283Pubali BankCD#01069010993 33Pubali Bank,Factory A/ c #849 0

Pubali Bank Ltd.CD Al C#2905901043904Pubali Bank Ltd. STD A/C No. 2905102001064DBBL A/C # 701.170.42246Standard Bank CD A/C- OO2330122O9Fixed Deposit JBCB- 003044387Fixed Deposit 275678 /3O3 /962Fixed Deposit-0 6547 87 / 06547 88-PBL

9.O0 Inter Company Receivables: Tlc73,892,261

JMI Printing & Packaging Ltd.

Jmi Syringe & Medical Devices Ltd.

JMI Export Import Company Ltd.

JMI Industrial Gas Ltd.

Note: The above balance does not carry interest.

9.01 lnvestment in Proiecu Suture Tk 134,402,950

_335,359,436_ _!!2,5!5,143i) Physical cash counting were taken place by the management team as well as in the presence of auditors.ii') The bank balances reconciliation has been performed with respective bank statements and found in order.

30.06.2017 30.06.2016Taka Taka

l- sgTsr3 I t- ,"34s^0131I rss,qeo | | gs,qae

I

1,O2O,48,3 2,440,979

f loos?sllses,e3-rlI B78,B1B | | 221,012

|l "''',!,2:,221 ll ='12:,2iil

I =,i;illll ,,1:,lz:"l

l'nl;:lt ll,,',,'"zi,iiilI r,zss,ssr ll tzzz,zez

I| 2oo,oo0,000ll I

fJJ"s11"5ooll -lI $z,szs,zostll - |I rs,aso,oooll II ros,rro,szo I

I 4A60"800lreopdI r,zso,ooo I I r,zso,ooo I

fT66p seo oo I l-1 66ps &ooo I

| 4,628,300 | | 4,628,300

|| 12,s00,000 | | 12,s00,000 |

I zoo,osz,eoo | | zoe,ooz,soo

I

| 11,7s0,000 | | 11,7s0,000

|

| 30,800,000 | | 30,800,000

|

| 270,000,000 11 |

| 660,000 | | 660,000 |

702,489,200 432,489,200

____-? s 0,0 0 0,0 0g_ _48o9q9499_....-:l -*,1' .- 1..."':''', :'.,

ri.- - ,-:'rii' ' ,ii,., jir.i . .. ., la . ,.'

r: :,. ,- ' .... ':Ita,i,,

:--,. 1.._.,.j},,'

73,492,261

Investment in Project: Suture 734,402,950 7,034,877

The above amount consists ofvarious payment against development oftechnical, feasibility, scientific, research,

design and implementation ofproject. (Capitalized as per IAS-38)

10.00 Share Capital: Tk 750,000,000a) AuthorizedCanital

150,000,000 OrdinaryShares ofBDT.10/- each 1,500,000,000 1,500,000,000

b) lssued. Subscribed&Paidun Share Capital75,000,000 Ordinary Shares of BDT. l0 /- each fully paid up in each

Share holding statusThe above issued, subscribed and paid up capital of BDT. 750,000,000 has been fully subscribed and paid by thefollowing shareholders:

Foreign SuonsorHoi Kwan Kim

fae So Shim

Local SnonsorMd. Abdur Razzaq

Mrs. Suriya Akter Rina

JMI Builders & Constraction Ltd.

JMI Vaccine Ltd .

fMI Export Import Co.Ltd.

fMI Hollow Block Co.Ltd.

Investment Corporation of Bangaldesh (lCB)

Other Small Investors

47,SaO,AOO 47,510,800

11.00 Tax Holiday Reserve: Tk 95,182,136

This has been provided for as per ofthe Income Tax Ordinance1984 which is arrived as at follows:

Opening BalanceAdd: Addition during the year

____8,18.2.lg9_ __48 3 48,28L

As per section 46 B of the Income Tax Ordinance, 1984 the tax holiday reserve has been made @40o/o onnet profit earned by the Company up to 2017.

12.96 Revaluation Reserve:'lk 220,630 3az

0pening BalanceLess: Adjustment for depreciation on revalued assets

13.00 Retained Earnings: Tk 227 ,068,7Ol

Opening BalanceNet Profit during the yearAdjustment for Tax Holiday ReseweAdjustment for Revaluation Reserve

14.00 Share Money Deposit: NilThe above balance are made up as follows:Opening Balance

Less: Share money deposit/(returnl

1S.00 ICB Loan (Advance against Equity): Nil

The above balance are made up as follows:Opening Balance as on 01.07.15Less: Share issued against advanceLess:lDCPfl nterest during under Const.Period)Add:lnterest payable

[-4BJ4BrB'l f 14J6,rrao1| 46,833,85s ll 33,581,441 |

a-trfr6i1;ll-- ,ni66prl4,548,135 ll 4,787,510 |

___49, 6398 82_ ___22 s,17 8,s 17_

1118,4?rE4lf4f.Jfzjr,q| 150,874,576 ll 99,247,620 I

I r+o,e:E,esstl | (33,s81,441)l

| +,s+e,rssll q,zet,srol

30.06.2017Taka

299,959,722(299,959,722)

(3s,o40,267)+

30.06.2016Taka

299,959,722

(47,886,722)47,886,-1.22

____-2e2gseJ22_

Builders & {onstra*tion Ltd,

As at 3i].G6.?O1? Asat 30.O6.20tr6N*. afShares ori '!la-of Strires *6

!Id" llbdur R-ezzaq '16"605.A0{} 22-140/r 16-6t5,A00 34.6Oor'iEci tr{r*an Kirn 4,.676.fi8{l 6-t70,$ 4.676,f1nn 9,6+0dlae So Shirrr 1.25,OS& &178./e 125,O00 o.26q.(LIrs- Srrrirra Akter Rina "f 62"A3O G"62Dl 442.430 O.g6o,4

1.75G-il{l{t t,670,{ 1-?5n,oft{} 7-6{1qd

ItrlI Taccine Ltd . 20.689.290 27"{8 uri ?0"6s9.29fi *2.9*o,,,;lillI Esuort InrDort Co.Ltd. x"175,tloB 1-57tr4 {.175"OOG z.45q,tIMI flollow Block Co.ttd. 3.fiEO.OOfl 4-t r{.{ 1.fiftn..nftn 6,4?*r'{

Senall Xuvrst*rs 66.O00 *.o9[l 66.DOtl 0.1401Intestrnent {rrporstion of Bsn.galdesh fICB'! 27-tI00.0tJ0 36-O00r{

TotaI 75.O00.o00 10i).t]0s/{ .ts.000.oo0 180.000t

c)

3o.06.2017 30'062016Taka Taka

16.00 Proiect Loan: Tk 440,176,4AA

The above balance are made up as follows:Opening Balance 406,482,091 371,996,100Add: Loan Received during the year

406,482,09t 37t,996,100Add: Interest Charged during the year 46,679,397 52,260,997

4531161,488 424,25?,011Less: Loan Refund 13,000,000 77,790,000

440,767,488 406,467,091Add: Interest PaidAdd: BankCharge 15,000 15,000

_ +4r,-",r* _^",r*,r-

fanata Bank Limited Corporate BranchTerms and conditions on the above facility including security details are as follows:

Sanction Limit : 406,482,000InterestRate : 11.00o/o

Validity : 2077 to2027Installmentsize : Tk. 13,000,000Terms of Repayment : 43 Quarterly Installments starting from 2017.

, NatureofSecurity : Land&Buildings

16.01 Term Loan: Tk477,A72,OGSThe above balance are made up as follows:Opening Balance -

Add: Loan Received during the year 453,984,970453,984,970

Add: Interest Charged duringthe year 38,872,095492,857,065

Less: Loan Refund 15,000,000477,857,065

Add: Bank Charge 15,000

@_fanata Bank Limited Corporate BranchTerms and conditions on the above facility including security details are as follows:

Sanction Limit z 441,819,922Interest Rate : 11% (As per new schedule)validity : 2077 to2o22LoanType : Cash CreditNatureofSecurity : Land&Buildings

17.00 Deffered Tax Liability: Tk 31,439,142

Opening balance 23,000,484 10,737,540Addition during the year: -Depreciation on Accounting Base 35,117,539 36,110,405DepreciationonTaxBase 59,227,989 71,147,389Temporary Difference (24,710,450) (35,036,9841

___31,439 ln_ _23,OOO,484_

18.00 Lease Finance fNon-current Maturity): Tk 1,851,024

The above balance have been represent short term lease loan taken from United Leasing Company Ltd. and Union Captal Ltd.

Non-Current year maturity (payable 2 to 5 years)18.01 Current year maturity (payable within 1 year)

I 1,ssl@ I-j^a3i"es4 I

I r,ozo,ao+ | | zoe,oar I

a) Union Capital LimitedCost of Car (in BDTIInitial DepositLeasing company's investment (in BDT]Interest rateNo. of monthly installmentInstallment size [in BDT)Loan Received/BDInterest chargedRepa5rment

Current year maturity (payable within 1 year) N-18.01Non-Currentyear maturity fpayable 2 to 5 years] N-18.00Non-Currentyear maturity (payable over 5 yearsJ

IPDC of Bangladesh LimitedCost ofCar (in BDT)Initial Deposit fI M AutosJLeasing company's investrnent (in BDT)Interest rateNo. of monthly installmentInstallment size (in BDTJ

Loan Receivedlnterest chargedRepayment

Current year maturity (payable within 1 year) N-18.01Non-Current year maturity (payable 2 to 5 years) N-18.00Non-Current year maturity (payable over 5 years)

United Leasing Company Ltd.

Currentyear maturity (payable within 1 year) N-18.01Non-Currentyear maturity (payable 2 to 5 years)

____JEoES_ _______1817_31!_

2,003,500(403,5001

1,600,00012.85o/o

6036,282

1,600,000239,162

{s44,230)_!a!.e32_

435,384859,54B

447,819,922 423,357,724

30.06.2017Taka

2,743,O00(7r,785)

2,071,27515.00o/o

6048,785

t,977,37 4244,942

[585,4201_!,516..8e6_

585,42099t,476

30.06.2016Taka

2,t43,O00(71,785)

2,07t,21515.00o/o

6048,785

2,t20,000138,869

t34t,495)_L9J1374_

585,420t,331,954

bl

c)

______JA!p32_

722,641

:-!22&!tThe amounts ofcurrent maturity oflong term lease finance obtained from Union Capital Ltd. which arepayable within next 12 (Twelve) months from the date of statement of Financial Position.

19.00 WorkingCapital Loan: NilThe above balance are made up as follows:Opening BalanceAdd: Loan Received duringthe year

Add: Interest Charged during the year

Less: Loan Refund

Add: Bank Charge

Sanction LimitInterest RateValidityLoan TypeNature of Security

44L,879,92272,150,048

453,969,970453,984,970

(15,000)' 15,000

--..

423,357,t2460,788,794

483,545,9224L,747,000

441,804,92215,000

_!41fi1e,922_

fanata Bank Limited Corporate BranchTerms and conditions on the above facility including security details are as follows:

: 447,819,922: 1170 (As per new schedule): 2017 ta2022: Cash Credit: Land & Buildings

30.06.2077Taka

30.06.2016Taka

20.00 Liability fuainst Import Tk 195,944,583The above balance are made up as follows:

Lim PAD LC# 20267Com PAD LC # 10705Com PAD LC # 10655Com PAD LC # 10373Com PAD LC# 10497Com PAD LC#20240Com PAD LC # 10530Com PAD LC # 10531Com PAD LC # 10589Com PAD LC#2OO31Com PAD LC# 10702Com PAD LC # 10103Com PAD LC # 10160Com PAD LC# 20017Com PAD LC# 20007

2l.OO Accounts & Other Payable: Tk 26,002,356This is arrived as at follows:Payment to SuppliersContrabutory provident FundHouse Rent PayableSalary &Allowance PayableVat Payable AccountSalary Tax PayableAudit Fee PayablePayable to Others

- fi%,6oi1l-rjgT?sol| ''r;f:: ll +,zio+lI l',lzg:,zllll ''i;z:zzllI esz.aes I I lzz.sfl I

I rer,ooo I I rro,ooo II s,rzr,rsg | | r,gge,ss+ |

_195944,583_

22.OO Loan from Director & Others: Tk 7,756,976Foreign SponsorHoi Kwan Kim

Income Tax Liability: Tk 62,311,076Production Unit

This has been made up as under:Balance as per AccountAdd: Provision for the year

Less: Advance income taxTax Payable(A)

Trading UnitThis has been made up as under:Balance as per AccountAdd: Provision for the year

Less: Tax paid at Import stageLess:TDS from Interest on FDR

Less:lncome tax paid: 2014-2015Less: Income tax paid,: 2073-2074Tax Payable(B)Total Tax Payable C=(A+B)

26,OO2,356

____JJsSflS_ ______J-J5S21S_

t9,574,552

".9,087,788 6,887,9L8?g,LSL,ttO 12,626,634

25,333,6298,621,939

989,8793BB,652

7,0s5,2891.2,979,268

3,315,9063,300,753

72,086,0614,574,067

30,883,3074,374,661.

72,280,480

B4,789,792

-,626,rr,zl..7Fiii6irI zs,etz,ze+ | | r+,esr,eso I

38,238,898

@,s?111-----n,sl.sl?I ze,szg,es+ ll zzl+al+e I

57,084,26577,642,782

747,4256,734,692

Subsequently Income Tax Tk 2,O9,38,290/= (31-07-2017) has been paid for the income year2OT5-2O16,

33,159,966 74,554,57162,317,076 27,1AL,205

23.OO

JMI HOSPITAL REQUISITE MANUFACTURING LTD.7/4 S HANTI BAG, DH AKA. 1,217

Notes to tlre Income Statement for the Year Ended fune3O,2077

Trading Production

30.06.2017TakaTotal

30.06.2016Taka

24.00 Revenue (Excluding Vat): Tk 7,010,702,646Dialysis MachineLocal Sales

Local Sales fDialyzer)Local Sales I GM & StripsJLocal Sales-(Stent)Revenue From Component

25.O0 Cost of Goods SoId: Tk 622,765,344Opening Stock ofRaw MaterialForeign(ImportJ Purchase-NiproForeign Purchase-PP & PE

Local Purchase Nipro fForeign)Local Purchase(Raw-Materials)Local Purchase-Nipro(StockJLocal Purchase (Solar)Workshop MaterialsPackaging ExpLessr Closing Stock ofRaw MaterialRaw Material ConsumedFactory Overhead Note: 25.01Cost of Goods ManufucuredAdd:Work-in-process:Beginning InventoryLess:Work-in-process:Ending InventoryCost of ProductionAdd:Finished Goods: Beginning InventoryLess:Finished Goods:Ending InventoryCost of Goods Sold

25.01 FactoryOverhead: Tk 108,690,022The above balances are made up as follows:Freight Charge /Carriage InwardSalary&AllowanceSalary & WagesFestival BonusGas & FuelMedical ExpenseLaundry ExpSanitation & Cleaning ExpFooding ExpensesAttendance BonusStaffuniform0vertime ExpensesSupplies ExpensesEntertainmentTravelling & ConveyanceVehicle Repair & MaintenanceSpareparts & OthersFactory ExpensesDiesel ExpensesInternet & Dish BillMobile BillElectricity BillRegistration & RenewalPrinting & StationeryContributory Providend FundRepair & Maintanence ofMachineryRepair & Maintenance-BuildingDepreciation

1O8,690,O22 108,690,022 94,349,844

723,016,55052,635,260

224,761,87338,776,420

1,559,000

253,$7,;gB

80,700,381

44,985,57015,876,810

68,377,381

t2t,270,081

s3,331,657

-

878,3205,877,055

t71,646,447

68,377,381253,331,298121,270,08180,700,38153,331,65744,985,57015,876,810

878,3205,877,055

771,646,447

47,061,,95398,407,940

110,601,05877s,O04,793

1,348,88344,587,992

477,056637,500

2,454,24264.?77 341

106 412,1

76,77439,863,256

t,503,4293,I79,062

143,730171,204298,977132,993

7,509,837284,200377,479

1,482,272399,989337,38759t,423636,957

62,783220,300

4,367,675744,700282,297

t9,o57,927160,850332,440

1,209,5851,028,580

t74,475

76,77439,863,256

'1,,503,429

3,1.79,062t43,730177,204298,977t32,993

1,509,837284,200377,479

7,482,272399,989337,38759t,423636,95762,183

220,3004,367,675

744,700282,297

79,057,927160,850332,440

1,209,5851,028,580

t74,475

95,26534,554,092

1,L53,1972,675,952

11B,BB3

t28,548262,075103,570

\239,497247,200415,797988,181378,018420,690486,158649,073

45,437246,500

3,591,000120,000253,347

13,363,4123

867,026

30.06.2017Taka

30.06.2016Taka

Administrative Expenses: Tk 39,97I,172The above balances are made up asElectricity BillEntertainmentTravelling & ConveyancePostage & CourierGas & FuelFooding ExpensesMiscellaneousOffice ExpensesPrinting & StationaryRepair & MaintenanceTravelling -Overseas & InlandLegal feeOffice RentUtility ExpensesSupplies ExpenseEmployees Tax ExpenseProfessional Fee

Head Office Common ServiceInsurance Premiun-Employee LifeInternet BillTelephone/Mobil BillLicence & Renewal Fee

Contributory Provident FundDirector's RemunerationSalary & AllowanceFestival BonusVehicle Repair & MaintenanceWater & Sewerage BillAudit fee

Bank ChargesCrokeries ExpenseMedical ExpenseSecurity BillDepreciation

Total:

27.OO Selling & Distribution Expenses: Tl< 26,121,47 6The above balances are made up as follows:AdvertisementTour Bill-LocalMobile BillShowroom RentMarketing Salary with BonousPostage & CourierUtilities ExpensesSales incentivePromotional ExpensesTAIDA Allowance (Marketing)Sample ExpensesProduct Enlisted /lnclusion Fee

Tender ExpenseCoverVan ExpensesContributory Providend FundSecurity Guard BillTraining & Development ExpensesFooding ExpensesDelivery Expense

Total:

99,479t12,327

29,O485,635

20,34722,39026,O80

60,76640,450t7,7-95

zt,i_os

10,000

:

2t1,75038,143

6,833,68273,832,460

705,233

147,590724,055

54,10548,3449,967

219,28459,477

t0t,770326,600tt6,88652B,BB3

31,068r,1.51,732

56,Otz

sos,3rz415,000567,542

62,336t7t,s1.577,099

694,00r1,542,9824,656,880

814,188463,47572,786

161,000146,573

r2r,067246,593

247,069236,382

83,15353,97930,308

24t,67485,551

70r,t70386,766757,336s46,67831,068

t,1s1,,732

77,417

sos,3rz425,000567,542

62,33677t,5t5282,249732,L44

8,376,66478,489,340

r,163,557463,47572,786

161,000251,805

t21,067246,593

206,7021.78,474

54,434273,300

68,5722r8,250150,883

93,367323,67316r,0546t3,909

28,9SO801,156506,330

62,832387,542529,000420,500

70,29490,552

161,588756,6-44

602,t8418,677,336

r,836,762398,823

54,829138,0002t0,t36

55,020198,550233,955

t72,180717,062385,822

7,20L,63713,483,520

286,536250,403

2,3t2,4143,464,485

6t8,39280,70094,0r4

842,262554,37097,38975,247

238,63647q 1?4

569,65683,384

761,369

.

16,864

tt2,7BO777,062385,822

1,201,63714,053,176

369,92025O,403

2,473,7833,464,485

618,39280,70094,074

842,262s71,234

97,38975,247

238,636475,134

520,874646,997376,857

1,341,4609,863,091

301.,267298,830427,000

2,494,3567,790,275

460,938450,000

90,200829,874

87,079

@@ru--lrrz2,orl-

30.06.2017 30.06.2016Taka Taka

Financial Expense: Tk 103,529,7 91The above balances are made up aslnterest on PAD LiabilityInterest Expense [Proiect Loan)lnterest on Car LeaseInterest Expense [Term LoanlInterest Expense (Cash Credit-1804)

Total:

29.00 Otherlncome : Tl*-3,147,328The above balances are made up as follows:Interest on FDRHouse Rent-Sub Rental Income INfCLJOthers Income

Total:

626,8282,280,000

240,500

626,8282,280,000

240.500

70,746,2132,173,213

723.362

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30.00 CapitalExpenditure Commitment

There was no contingent liabilities as on 30.06.2017 exceptL/C liabilities.

31.00 Foreign Exchange Earned

Exported in USD.

N/A.

No other income included consultanry fee, royalty, technical expert and professional advisory fee, interest, etc.was incurred or paid in foreign currencies except as stated above.

32.00 Commission, Brokerage or Discount against sales N/A.

No commission was incurred or paid to distributors, agents nor any brokerage or discount was incurred or paidagainst sales.

33.O0 Credit Facility NotAvailed

There was no credit facility available to the company under any contract, but not availed as on 30th June 2017other than trade credit available in the ordinary course ofbusiness.

34.00 SegmentReporting

As there is single business and geographic segment within the company operates as such no segment reportingis felt necessary.

35.00 Attandance Status of Board Meeting of Directors

Duringtheperiodfrom 01.07.2076to30.06.20\7 therewere 10 [TenJ BoardMeetingswereheld.Theattandance status of all the meetings is as follows:

Name of Directors Position Meetine Held AttendedMd. Abdur Razzaq Manasins Director 10 10Mr. Hoi Kwan Kim Director 10 10Mrs. Suriva Akter Rina Director 10 10Mrs. fae So Shim Director 10Mr. Md. Rafiqul Islam Nominee Director- ICB 10 4

For Board Meeting attendance fees were not paid to the Directors ofthe Company.

36.00 DisclosureasperrequirementofScheduleXl,PartlloftheCompanyAcLlgg4

a Disclosure as per requirement ofSchedule XI, Part II, Note 5 ofPara 3

a(i) Employee Position (As at 30th fune 2017 )

Salary Range (Monthly) Officer & Statr Worker Total EmployeeHead Office Factory

Below Tk. 5.000/- Nil Nil Nil NilAbove Tk. 5,000/- 95 335 40 470

Total

b(D

b(ii)

Disclosure as per requirement of Schedule XI, Part Il, Para N/A.

Period ofpaymentto Directors is from lstJuly 2O76to 30th |une 2017.

The above Directors ofthe company did not take any benefit from the company.a. Expense reimbursed to the managing agent -Nilb. Commission or other remuneration payable separately to a managing agent or his associate -Nilc. Commission received or receivable by the managing agent or his associate as selling or buying agent ofotherconcer'ns in respect of contracts entered into such concerns with the company - Nil.d. The money value ofthe contracts for the sale or purchase of goods and materials or supply of services,entered into by the company with the managing agent or his associate during the financial year. N/A.

e. Any other perquisites or benefit in cash or in kind stating - Nilf. Other allowances and commission including guarntee commission - Nil.g. Pensions, etc.-

1J Pensions - Nil2l Gratuities - Nil3l Payment from Provident Fund - Nil4l Compensation for loss of office - Nil5] Consideration in connection with retirement from office - Nil.

Disclosure as per requirement of Schedule XI, Part II, ParaDetails of production capacity utilization

Disclosure as per requirement ofSchedule XI, Part II, Para 8

i) Raw Materials, Spare Parts, PackingMaterials and Capital Machinery

iiJ The Company has not incurred any expenditure in foreign currenry for the period from 1st July 2016 to 30thlune 2017 on account of royalty, know-how, professional fee, consultancy fees and interest.

iiiJ Foreign exchange earning USD N/A. equivalent ofBDT N/A. in respect ofexport has been calculated on FOBiv) The Company has not earned any foreign exchanges for royalty, know-how, professional fees andvl The value of export from the period from 1st July 2076 to 30th fune 2Ot7 . N / A.

Name of Directors Designation Remuneration Festival Bonus Total Payment

Md. Abdur Razzaq ManagingDirector

77,69,768

Mr. Hoi Kwan Kim DirectorMrs. Suriva Akter Rina Director 6.07.496 3,00,000Mrs. Iae So Shim DirectorTotal

Particulars Licence Capacity InstalledCapacity

in MT

Actual Production inMT from 1st fuly 2016

fn ?Oth lnno?o,17

Capacity Utilizationfrom 1st f uly 2016 to

?Oth hrnp ?O1 7

Annual Production CapaciW Not mentioned in 65o/o

Items Purchase in Taka Consumption %o of ConsumptionImport Local Total in Taka oftotal purchase

RawMateriel

As per Income StatementSparePartsPackingMaterialsTotalThe value of imported raw materials is calculated on

Disclosure as per requirement of Schedule XI,

Requirements under conditionNo.

Compliance status of Disclosure of Schedule XI, Part II, Para 3

3(iJ(aJ The turnover 7,070,702,646

3(iJ[bJ Commission paid to sellingasents

N/A.

3(il(c I Brokerage and discount ofsales, other than the usal tradediscount

N/A.

3(DtdltD The value ofthe rawmaterials consumed, giving item-wise as as possible

As per Income Statement

3(D (dl(iil The opening andclosing stocks ofgoods produced

As per Income Statement

3[iJ[e)ln the case oftradingcompanies, the purchase madeand the opening and closing

As per Income Statement

3[i)(fl In the case of Companiesrendering or supplying services,the gross income derived fromservices rendered or supplied

N/A.

3 [iJ (gJ Opening and closingstocks, purchases, sales andconsumption of raw materialswith value and quantity breakupfor the Company, which fallsunder one or more cateqories i.e.

As per Income Statement

3(iJ[hJ In the case ofothercompanies, the gross incomederived under different heads

N/A.

3(iJ[iJ Work-in-progress, whichhave been completed at thecommencement and at the end ofthe accounting period

As per Income Statement

3 (iJIJ Provision for depreciation,renewals or diminution in value olfixed assets

As per Fixed Assets Schedule

3[iJ[kJ Interest on the debenturepaid or payable to the ManagingDirector, Managing Agent and theManager

N/A.

3(iJQ) Charge for income tax andother taxation on profits As per Income Statement

3[i] (ml Reserved for repayment olshare capital and repayment ofloans

N/A.

:(il[n)[i] Amount set aside orproposed to be set aside, toreserves, but not includingprovisions made to meet anyspecific liability, contingenry orcommitmen! know to exist at thedate as at which the balance sheetis made up.

N/A.

3 (il [n](iiJ Amount withdrawnfrom above mentioned reserve N/A.

3(il(ol(il Amount set aside toprovisions made for meetingspecifi c liabilities, contingencies olcommitments.

N/A.

3(il[o][il) Amount withdrawnfrom above mentioned provisions,as no longer required.

N/A.

3(iJ[pJ Expenditure incurred oneach of the following items,

As per Income Statement

separately for each item: [i]Consumption ofstores and spareparts

(iil Power and Fuel [iii] Rent (ivJRepairs of Buildings [vJ Repairs of

Machinery (vi)(11 Salaries, wagesand bonus (2) Contribution toprovident and other funds (3JWorkmen and staff welfareexpenses to the extent notadjusted from any previousprovision or reserve.

37.00 Subsequent Disclosure of Events after the Balance Sheet Date - Under IAS 10

The Board of Directors ofthe company has approved the financial statements were approved as on 25.L0.2077recommended no dividend for the financial year 30 lune 2077 . Except the fact stated above, no circumstanceshave arisen that to be disclosed as note or adjusted in the financial statements.

38.00 Details of Lease Agreement:

There is lease assets. So lease agreement was required or signed.

Disclosure as per requirement of schedule XI, Part - I ( A. Horizontal Form) of Companies Act 1994Accounts ReceivableAccounts Receivable Balance are made up agianst sales from more than 3000 fThree Thousand] Customer's allover the country.( I ) Debt considered good in respect of which the company is fuIly secured :

The debtors occurred in the ordinary course ofbusiness are considered good and secured,

(lI) Debt considered good for which the company hold no securit5r other than the debtors personalsecurit5rThere is no such debt in this respect as on 30 June' 2017.

(III) Debt considered doubtfrrl or badThe company does not make any provision for doubtful debts as on 30 |une'2017, because ofthe fact that localsales are being made on regular basis with flxed maturity dates.

(IV) Debt due by directors or other officers of the companyThere is no such debt in this respect as on 30 June'2017 . N/A.

(V) Debt due by Common Management

There are no amount due form sister company under common management as on 30 fune' 2017.

(VI) The maximum amount due by directors or other officers of the companyThere is no such debt in this respect as on 30 June'2017.

39.00

40.00

41.00 Approval of the financial statements:These financial statements were authorized for issue in accordance with a resolution of the company'sBoard of Directors on 25.70.2017

42.00 General

a Comparative amountsWherever considered necessary previous year's figures have been restate4 in order to conform to currentYear's presentaion

b Presentation currency

The annexed financial statements are presented in Bangladeshi currenry [Taka], which have been rounded offto the nearest Taka.

43.00 Events after the Balance Sheet date:

44.00 Proposed Dividend N/A.

In the board meeting held on25.70.2077 the management proposed to declare no dividend for the year 2017subject to the appoval by the share holders in AGM.

45.00 InternalControl

The following steps have been taken for implementation of an effective internal control procedure of theCompany:A strong internal control and compliance division has been formed with a view to establish a well designatedsystem of internal control.Regular review of internal audit reports with a view to implement the suggestion of internal auditors in respectof internal control technique.To establish an effective management system that includes planning organizing and supervising culture in thefactory as well as at Head Office.

46.00 Deffered Tax:The Company calculated any effect on deffered tax duirng athe period from 01.07.20 76 to 30.06.20!7 .

47.00 General Comments and ObservationsPrevious period's figure have been regrouped/reclassifled whereever considered necessary to confirmed tocurfent period's presentation. Figures have been rounded offto the nearest taka, as the currenry represented inthis financial statement.All shares have been fully called and paid up.

Auditor's are paid only statutory audit fees.No foreign exchange remitted to the relevant shareholders during the period under auditNo amount of moneyservice rendered.

the company for compensating any members of the Board for special

There was no bank guara by the company on behalf of Directors.

Managing Director