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

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

RECORDS TO YOUR REPORTS FOR THE ENDED JUNE 30, 2003
3 year. MONEY AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS REPORTS IS MADE AT RATES INCLUDING 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 they are guaranteed by means of lien on Certificates of Investment. The price of mark-up ranges from 14% to 21.5percent per annum.

4.2. Included in these are money market placements with different banking institutions along with other banking institutions. Return on these placements ranges from 5% to 13percent.
5. ASSETS through the year that is current the organization offered four federal government securities for Rs 182.288 million. The cost that is amortised of federal federal government securities was Rs 159.394 million plus the revenue regarding the disposal of the securities amounted to Rs 22.894 million.

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

As at June 30, 2003 the staying investment associated with business in government securities amounted to Rs 52.634 million.

This investment has now been reclassified as ‘held for trading’ and it is calculated at reasonable value. An increase of Rs 12.946 million is credited into the revenue and loss account in respect of the investment. There are no assets that are financial as ‘held to readiness’ at June 30, 2003.

5.1. INFORMATION ON ASSETS IN SHARES/CERTIFICATES OF LISTED COMPANIES/MODARABAS 6. THE RETURN ON LISTED TERM FINANCE CERTIFICATES RANGES FROM 12 per cent TO 18 percent
7. ADVANCES, BUILD UP, PREPAYMENTS ALONGSIDE RECEIVABLES 7.1. The utmost aggregate amount due through the executive that is chief executives at the conclusion 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. LONG-TERM LOANS – CONSIDERED GOOD The above loans consist of a quantity of Rs 6,668 (2002: Rs 936,200) outstanding for a time period of a lot more than three years.

These loans happen supplied to workers for sale of cars and get of home and therefore are repayable between three to 10 years. Mark-up on these loans is charged at rates which range from 2 percent to 6 percent per year.

The utmost aggregate amount due through the executive that is chief professionals by the end of any month 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 above mentioned includes the following Term Finance Certificates issued by Pakland Cement Limited (PCL) under a scheme of arrangement sanctioned by the tall Court of Sindh against rent facilities awarded by the business: 9.2. THE INNER PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE CHIEFLY ARE PRICED BETWEEN 9% TO 20per cent PER YEAR
9.3. MINIMAL LEASE PAYMENTS RECEIVABLE 9.4. SUPPLY 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 times by 15, 2003 august.

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 on this finance is Re 0.3014 per Rs 1,000 each day. The acquisition pricing is payable by June 30, 2003.
12. CREDITORS, ACCRUED ALONG WITH OTHER LIABILITIES 12.1. Amount because of Saudi Pak Industrial and Agricultural Investment Company (Private) Limited, an associated undertaking, at the season end amounted to Rs 3,940 (2002: Rs 514,783).
13. LONG-TERM BUILD UP These express security deposits received from lessees under rent agreements and tend to be adjustable on expiration associated with particular rent durations.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up prices on these funds are derived from the yield on treasury bills/SBP discount rates and generally are modified on half yearly foundation.

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

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

14.2. LIABILITY IN RESPECT OF TERM FINANCE Transaction price incurred on problem of Term Finance Certificates II happens to be modified through the associated liability according to the requirements for initial recognition of economic liabilities specified in Overseas Accounting Standard 39, ‘Financial Instruments: Recognition and Measurement’.

14.3. Term Finance Certificates II are secured by a primary and charge that is exclusive certain current and future leased assets and their associated receivables.
15. CERTIFICATES OF INVESTMENT

The business has granted certificates of investment beneath the authorization issued by the authorities.

These certificates of investment are for durations which range from a few months to 5 years and return on these certificates varies from 5.00 to 7.50 percent per year. Present readiness of long-lasting certificates of investment amounting to Rs. 110,732,000 (2002: Rs 88,163,000) is roofed liabilities that are undercurrent short-term certificates of investment.
16. ISSUED, SUBSCRIBED AND PAID-UP-CAPITAL The Authorised Share Capital as at June 30, 2003 amounts to Rs. 400,000,000 (2002: 400,000,000) split into 40,000,000 (2002: 40,000,000) ordinary stocks of Rs. 10 each.
17. RESERVES 17.1. The contingency book happens to be developed in respect associated with the demand raised by the riches Tax Officer for business resource Tax of Rs 2,000,000 together with the tax that is additional of 557,589. The organization has filed a writ petition within the tall Court of Sindh from this demand.

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

17.3. The reserve for deferred taxation is developed depending on what’s needed associated with the no. This is certainly circular released by the Securities and Exchange Commission of Pakistan on September 9,1999.

The unrecognised obligation associated with the business for deferred taxation as at June 30, 2003 quantities to Rs Nil (2002: Rs 16.284 million).
18. COMMITMENTS 19. INCOME FROM FINANCE LEASE OPERATIONS 20. MONEY ON ASSETS 21. DIFFERENT INCOME 22. FINANCIAL ALONG WITH OTHER CHARGES 23. ADMINISTRATIVE AND OPERATING COSTS 23.1. SALARIES, ALLOWANCES AND BENEFITS INCLUDE RS. 1,533,473 (2002: RS 1 payday loans installment payments,230,807) ACCORDING OF STAFF RETIREMENT BENEFITS
24. DIRECT COST OF WORKING LEASES 25. TAXATION

The tax fee for the present 12 months represents minimal cost at 0.5per cent of gross income.
26. STAFF PENSION GRATUITY

The most recent valuation that is actuarial of gratuity investment had been completed as at June 30, 2003. The reasonable value of this fund’s assets and liabilities during the latest valuation date had been the following: Projected Unit Credit Method using listed here significant assumptions had been employed for the valuation regarding the Fund: 26.1. The price of assets created by the employees your your retirement funds operated by the organization depending on their accounts that are audited at June 30, 2003 is really as 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, to your Chief Executive and Executives is really as follows: Certain professionals are given with free utilization of business maintained automobiles.

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

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

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