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

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

4.2. Included in these are money market placements with different banking institutions as well as other banking institutions. Return on these placements ranges from 5% to 13percent.
5. OPPORTUNITIES throughout the present 12 months, the business offered four federal federal government securities for Rs 182.288 million. The cost that is amortised of government securities had been Rs 159.394 million plus the revenue in the disposal among these securities amounted to Rs 22.894 million.

The management made a decision to offer these securities so that you can realise the gain arising on these securities underneath the interest rate environment that is reduced.

As at June 30, 2003 the staying investment of this business in 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 loss and profit account in respect with this investment. There aren’t any financial assets classified as ‘held to readiness’ at June 30, 2003.

5.1. INFORMATION ON OPPORTUNITIES IN SHARES/CERTIFICATES OF LISTED COMPANIES/MODARABAS 6. THE RETURN ON INDEXED TERM FINANCE CERTIFICATES RANGES FROM 12 percent TO 18 per cent
7. IMPROVEMENTS, BUILD UP, PREPAYMENTS ALONG WITH OTHER RECEIVABLES 7.1. The utmost aggregate amount due through the leader and professionals at the end of any thirty days throughout 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 ANY OTHER RECEIVABLES 8. LOANS that are LONG-TERM CONSIDERED GOOD The above loans consist of a sum of Rs 6,668 (2002: Rs 936,200) outstanding for a time period of significantly more than 36 months.

These loans have now been supplied to employees 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 through the leader and professionals at the conclusion of any thirty days throughout the 12 months 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 aforementioned includes the following Term Finance Certificates issued by Pakland Cement Limited (PCL) under a scheme of arrangement sanctioned by the High Court of Sindh against rent facilities awarded by the business: 9.2. THE INTERIOR 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 designed 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 dates by August 15, 2003.

Along with this a facility that is un-utilised operating finance offered by a commercial bank amounted to Rs 50 million (2002: Nil). The price of mark-up with this finance is Re 0.3014 per Rs 1,000 each day. The purchase price is payable by June 30, 2003.
12. CREDITORS, ACCRUED ALONG WITH OTHER LIABILITIES 12.1. Amount as a result 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 DEPOSITS These express security deposits gotten from lessees under rent agreements and are also adjustable on expiration for the particular rent periods.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up prices on these finances depend on the yield on treasury bills/SBP discount rates and they are modified on half basis that is yearly.

The mark-up prices on these funds are derived from the average that is weighted of final three cut-off prices of this five year Pakistan Investment Bonds (PIBs), and are usually modified on half-yearly foundation.

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

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

14.3. Term Finance Certificates II are guaranteed by an initial and charge that is exclusive certain present and future leased assets and their associated receivables.
15. CERTIFICATES OF INVESTMENT

The organization has given certificates of investment underneath the authorization issued because of the government.

These certificates of investment are for durations including three months to five years and return on these certificates varies from 5.00 to 7.50 per cent per year. Current readiness of long-lasting certificates of investment amounting to Rs. 110,732,000 (2002: Rs 88,163,000) is roofed undercurrent liabilities in 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 reserve happens to be developed in respect associated with need raised by the riches Tax Officer for business resource Tax of Rs 2,000,000 combined with extra income tax of Rs 557,589. The business has filed a writ petition when you look at the tall Court of Sindh from this need.

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

17.3. The reserve for deferred taxation was developed according to certain requirements associated with the Circular No. 16 granted 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 ALONGSIDE CHARGES 23. ADMINISTRATIVE AND OPERATING COSTS 23.1. SALARIES, ALLOWANCES AND BENEFITS INCLUDE RS. 1,533,473 (2002: RS 1,230,807) ACCORDING OF STAFF BENEFITS that are RETIREMENT. DIRECT PRICE OF WORKING LEASES 25. TAXATION

The income tax 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 had been carried out as at June 30, 2003. The reasonable worth regarding the fund’s assets and liabilities in the valuation date that is latest had been the following: Projected Unit Credit Method using the following significant assumptions had been employed for the valuation for the Fund: 26.1. The expense of opportunities created by the staff your your retirement funds operated by the business depending on their accounts that are audited at June 30, 2003 can be follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The amount that is aggregate within these is the reason remuneration including all advantages, into the Chief Executive and Executives is as follows: Certain professionals are given with free usage of business maintained vehicles.

The above mentioned remuneration of leader relates to the Executive Officer that is ex-Chief of business whom ceased to put up workplace w.e.f. 30, 2003 april.

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

Kategorie: Allgemein
Du kannst alle Neuigkeiten zu diesem Beitrag als RSS 2.0 feed abonnieren. Die Kommentarfunktion sowie das Pinging sind derzeit deaktiviert.

Die Kommentarfunktion ist deaktiviert.