eighth icb mutual fund · 2017-11-09 · third icb mutual fund 19 may 1985 100.00 07 march 2016...

2015-16Annual Report

Eighth ICBMutualFund

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Annual Report 2015-16

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ICB Mutual Fund

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Managed by: Investment Corporation of Bangladesh

mvaviY Z_¨vejx General Information

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8, ivRDK A¨v‡fwbD, XvKv-1000

†cv÷ e· bs-2058

†Kej : INVESTCORP

†dvb : 9563455 (A‡Uv nvw›Us)

d¨v· : 880 2 9563313

B-‡gBj : [email protected] [email protected]

I‡qe mvBU : www.icb.gov.bd

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‡dvb: 9662057, 01716-736389

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kZvãx †m›Uvi (7g Zjv)

292, Bbvi mvK©yjvi †ivW

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‡dvb : +880-2-7192098

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Head Office: BDBL Bhaban (Level 14-17) 8, Rajuk Avenue, Dhaka-1000 Post Box no. 2058 Cable : INVESTCORP Phone : 9563455 (auto hunting) Fax : 880 2 9563313

E-mail : [email protected] [email protected] web site : www.icb.gov.bd

Auditors: Khan Wahab Shafique Rahman & Co. Chartered Accountants Rupali Bima Bhaban (5th Floor)

7, RAJUK Avenue, Motijheel Dhaka-1000

Rahman Mostafa Alam & CO. Chartered Accountants Paramount Heights (7th floor, D2) Box Culvert Road 65/2/1, Purana Paltan Dhaka-1000 Legal Adviser: Dr. Kamal Uddin Bhuiyan LL.B (Hon's), LL.M, Ph.D Advocate, Bangladesh Supreme Court Room No-4020 (Annex) Supreme Court Bar Association Building Shahbag, Dhaka-1000

Phone : 9662057, 01716-736389 Income Tax Adviser: Shafiq Basak & Co. Chartered Accountants Shatabdi Centre (6th Floor) 292, Inner Circular Road Fakirapool, Motijheel, Dhaka Phone : 88-2-7192098

Bankers : IFIC Bank Ltd. Agrani Bank Ltd.

Dhaka Bank Ltd. Dutch-Bangla Bank Ltd. City Bank NA Basic Bank Ltd.

2

ANNUAL REPORT 2015-16 | ICB Mutual Fund

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Contents

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04 Board of Directors of ICB 04

Kvh©µ‡gi msw¶ßmvi 05 Operational Highlights 05

e¨e¯’vcbv cÖwZ‡e`b I wnmve 06 Management Report and Accounts 06

AvBwmwe wgDPy¨qvj dvÛmg~n 08 ICB Mutual Funds 08

K…ZÁZv ¯xKvi 11 Acknowledgement 11

Aóg AvBwmwe wgDPy¨qvj dvÛ 12 Eighth ICB Mutual Fund 12

AvBwmwei Awdmmg~n 37 Offices of ICB 37

3


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Board of Directors

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Chairman Dr. Mojib Uddin AhmedProfessor Department of Tourism and Hospitality ManagementUniversity of Dhaka Managing Director

Md. Iftikhar-uz-zaman Directors

Muhammad Alkama Siddiqui Additional Secretary Economic Relations Division, Ministry of Finance Government of the People's Republic of Bangladesh Md. Shafiqul Islam Additional Secretary Ministry of Commerce Government of the People's Republic of Bangladesh S. M. Moniruzzaman Executive Director Bangladesh Bank Manjur Ahmed Managing Director Bangladesh Development Bank Ltd. Md. Obayed Ullah Al Masud Managing Director & CEO Sonali Bank Ltd. Mohammad Shams-Ul Islam Managing Director & CEO Agrani Bank Ltd. Md. Abdus Salam Managing Director & CEO Janata Bank Ltd. Syed Shahriyar Ahsan Managing Director Sadharan Bima Corporation Secretary Dipika Bhattacharjee General Manager


4

Operational Highlights Launching & Conversion/Liquidation

Name of the Fund Date of Launching Capital Fund (Taka in lac)

Effective date of Conversion to

open end Unit Fund

First ICB Mutual Fund 25 April 1980 75.00 29 October 2015

Second ICB Mutual Fund 17 June 1984 50.00 30 November 2015

Third ICB Mutual Fund 19 May 1985 100.00 07 March 2016

Fourth ICB Mutual Fund 06 June 1986 100.00 03 march 2016

Fifth ICB Mutual Fund 08 June 1987 150.00 29 February 2016

Sixth ICB Mutual Fund 16 May 1988 500.00 28 April 2016

Seventh ICB Mutual Fund 30 June 1995 300.00 - Eighth ICB Mutual Fund 23 July 1996 500.00 -

Total 1775.00

Last five Years Comparison of 8th ICB Mutual Fund Regarding Net Income, Dividend Percentage and Dividend Amount

Net Income Dividend Percentage

Dividend Amount

6.48 6.24 6.828.63 8.71

02468

10

Fiscal Year

0%

50%

100%

150%

200%

250%

Fiscal Year

5.00

5.50

6.00

7.00

10.00

0.00 2.00 4.00 6.00 8.00 10.00 12.00

2011-12

2012-13

2013-14

2014-15

2015-16

Tk. in Crore

5


Operational Results (FY 2015-16)

Meeting for declaration of dividend of ICB Mutual Fund for FY 2015-16 is in progress

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Management Report and Accounts

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Dc-wewa Abyhvqx K‡c©v‡ikb Avb‡›ì mv‡_ 8g AvBwmwe

wgDPz¨qvj dv‡Ûi 30 Ryb 2016 Zvwi‡L mgvß A_©eQ‡ii

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In terms of the sub-regulation (vii) of Regulation 29-B of ICB (General) Regulations 1977, the Corporation is pleased to present herewith the Annual Management Report and Audited Accounts of its 8th ICB Mutual Fund for the year ended 30 June 2016.


6

wgDPy¨qvj dvÛ Mutual Fund

wgDPy¨qvj dvÛ Trust Act 1882 (II of 1882)-Gi Aax‡b

U«v÷ AvKv‡i MwVZ Ges ÔÔwmwKDwiwUR I G·‡PÄ Kwgkb

(wgDPy¨qvj dvÛ) wewagvjv, 2001ÕÕ Abymv‡i cwiPvwjZ n‡q _v‡K|

D‡`¨v³v KZ©…K cÖ Ë Ges Rbmvavi‡Yi wbKU BDwbU weµ‡qi

gva¨‡g msM„nxZ A_© Øviv wgDPy¨qvj dvÛ MwVZ nq| wgDPy¨qvj

dv‡Ûi †cvU©‡dvwjI †ckv`vwi‡Z¡i mv‡_ cwiPvwjZ nq Ges

wewb‡qvMKvixMY A‡c¶vK…Z ¯í SyuwK enb K‡i eûgyLx cÎ‡Kvl

(Diversified Portfolio)-G wewb‡qv‡Mi my‡hvM jvf K‡ib|

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cuywRevRv‡ii w ’wZkxjZv eRvq ivL‡Z wgDPy¨qvj dvÛ ¸iæZ¡c~Y©

f~wgKv cvjb K‡i _v‡K|

Mutual Funds are formed under Trust Act 1882 (II of 1882) as trust and managed by “Securities and Exchange Commission (Mutual Fund) Rules, 2001”. Mutual fund is formed by the money given by the sponsor and sale proceeds of the unit sold to the public. The portfolio of the mutual fund is managed professionally and the investors get a chance to invest in a diversified portfolio with relatively lower risk.

Mutual Fund accelerates the industrialization by expanding the scope of capital collection of public limited companies including the infrastructure development of the country as a secure investment instrument. Due to the fewness of mutual funds and institutional investors the market situation becomes unstable very often. Mutual Funds help to improve the stability of the market and sustainable development by supplying securities and increasing demand. Mutual funds play an important role in increasing national savings and investment and also in capital market stability including economic development.

wgDPy¨qvj dvÛ wewagvjv Mutual Funds Rules

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RyjvB 2001 Zvwi‡L †M‡RU †bvwUwd‡Kkb-Gi gva¨‡g

"wmwKDwiwUR I G·‡PÄ Kwgkb (wgDPy¨qvj dvÛ) wewagvjv,

2001Ó Rvwi Kiv nq| D³ wewagvjv †gvZv‡eK †h †Kvb

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wewagvjv Abymv‡i wgDPy¨qvj dv‡Ûi evwl©K jv‡fi b~¨bZg 70%

wewb‡qvMKvix‡ì gv‡S jf¨vsk wn‡m‡e weZiY Kivi weavb

i‡q‡Q|

“Securities and Exchange Commission (Mutual Fund) Rules, 2001” was circulated by Bangladesh Securities and Exchange Commission (BSEC) through gazette notification on 10 July 2001. As per the regulation all incomes of mutual funds are tax-free. According to the rule it is mandatory to distribute at least 70% of the annual profit among the shareholders as dividend.

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welqwU wb¤œiƒ‡c ewY©Z n‡q‡Q-

(1) cÖ‡Z¨K wgDPz¨qvj dvÛ Zvi cÖ‡Z¨KwU w¯‹‡gi BDwbU cÖwZ

wbU m¤ú` g~j¨ (c„_Kfv‡e µq g~j¨ I PjwZ evRvi g~j¨ Gi

wfwË‡Z) wb¤œewY©Z c×wZ‡Z wbY©q Ki‡e, h_vt-

†gvU wbU m¤ú` g~j¨ (NAV) = dv‡Ûi †gvU m¤ú‡ì cwigvY -

dv‡Ûi †gvU `v‡qi cwigvY

The matter of net asset value per share has been stated in the paragraph no. 60 of the rule as follows: (1) All scheme of each mutual fund will calculate its net asset value per share (separately at cost and market price) of all scheme by the following method:

Total net asset value (NAV) = Total Asset of the fund - Total liability of fund

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m¤ú‡ì g~j¨ =

†gvU wbU m¤ú` g~j¨ (NAV)

†gvU Acwi‡kvwaZ (un-redeemed)

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Net asset value per unit =

Total Net Asset Value (NAV) Total no. of un-redeemed unit

7


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LiP|

Total asset will include the following assets: a) Value of all securities under custody, value of all

securities mortgaged, cash in hand and at bank value of all securities receivable, value of all receivable investments, recoverable dividend excluding income tax, recoverable interest excluding income tax, issue expense excluding amortization, printing and stationery expenses excluding amortization.

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(2) wgDPz¨qvj dv‡Ûi mKj w¯‹g cÖwZ mßv‡n Gi wbU m¤ú`

g~j¨ wbY©q Ki‡e|

(3) cÖ‡Z¨KwU w¯‹‡gi wbY©qK…Z wbU m¤ú` g~j¨ (µq g~j¨ I

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†Kv¤úvwbi Kvh©vj‡qi †bvwUk †evW© I I‡qe-mvB‡U (Website)

Zv cÖKvk Ki‡Z n‡e Ges †cÖm wiwjR AvKv‡i D³ Z_¨

cuywRevRvi m¤úK©xq msev` cwi‡ekbKvix AšÍZt GKwU RvZxq

ˆ`wbK cwÎKvq cÖKvk Ki‡Z n‡e|

b) Total liabilities of the fund will includes- value of all securities payable, cost of all payable investment, brokerage and custodian charge, printing expenses, publication and stationery, due late fees (trustee fee, annual fee, audit fee, guarantee fee).

(2) Schemes of mutual fund will calculate its net asset value in each week.

(3) The calculated net asset value of every scheme (at cost and market price) has to be informed to the commission and the stock exchanges at the first working day of the week prior to the trading hour. Simultaneously, it has to be published in the notice board and website of the asset management company and in at least one national newspaper as press release which presents capital market news.

AvBwmwe wgDPy¨qvj dvÛmg~n ICB Mutual Funds

AvBwmwe evsjv‡`‡k wgDPy¨qvj dvÛ BÛvw÷« cÖeZ©‡b cw_K…r Gi

f~wgKv cvjb K‡i| 25 GwcÖj 1980 Zvwi‡L †`‡ki cÖ_g

†gqvw` (Closed-end) wgDPy¨qvj dvÛ ÔÔcÖ_g AvBwmwe

wgDPy¨qvj dvÛÕÕ evRviRvZ Kiv nq| Gi ci †_‡K eQi

cwiµgvq 1996 mvj ch©šÍ AvBwmwe me©‡gvU 17.50 †KvwU

(eZ©gv‡b 17.75 †KvwU) UvKv g~jab msewjZ 8wU †gqvw`

wgDPy¨qvj dvÛ evRviRvZ K‡i| evsjv‡`k wmwKDwiwUR I

G·‡PÄ Kwgkb (weGmBwm) KZ©…K 10 RyjvB 2001 Zvwi‡L

†M‡RU †bvwUwd‡Kkb-Gi gva¨‡g ÒwmwKDwiwUR I G·‡PÄ

Kwgkb (wgDPy¨qvj dvÛ) wewagvjv, 2001Ó Rvwi Kiv nq|

DwjøwLZ mg‡q ïaygvÎ AvBwmwe cwiPvwjZ Av‡jvP¨ 08 (AvU)

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wgDPy¨qvj dvÛ GKB bxwZgvjvi AvIZvq cwiPvjbvi gva¨‡g

wewb‡qvMKvixM‡Yi ¯v_© i¶vi wbwgË 2007 mv‡j weGmBwm

AvBwmwe wgDPy¨qvj dvÛmg~n Av‡jvP¨ wewagvjvi AvIZvq

cwiPvjbvi †¶‡Î KwZcq kZ© Av‡ivc Ges KwZcq wewa

cwicvj‡b Ae¨vnwZ cÖ vb K‡i|

ICB is the pioneer organization of initiating mutual fund industry in Bangladesh. The country’s first closed-end mutual fund, the “First ICB Mutual Fund” was launched on 25 April 1980. Since then ICB had floated 8 closed-end mutual funds of total capital of Tk. 17.50 crore (which is now Tk. 17.75 crore) up to 1996. “Securities and Exchange Commission (Mutual Fund) Rules, 2001” was circulated by Bangladesh Securities and Exchange Commission (BSEC) through gazette notification. At that time the aforementioned eight mutual funds managed by ICB was listed in the stock exchanges.

For the interest of investors by bringing all existing and forthcoming mutual funds under the same rules, some conditions are imposed and exemption are given from executing some rules by BSEC in 2007 to operate the ICB mutual funds.


8

weGmBwm KZ…©K 07 †deªæqvwi 2007 Zvwi‡Li c‡Îi gva¨‡g

wgDPz¨qvj dvÛ wewagvjv cÖYq‡bi A‡bK c~‡e© AvBwmwe dvÛmg~n

Pvjy Kivi Kvi‡Y Uªvw÷, Kv‡÷vwWqvb Ges D‡`¨v³v wb‡qv‡Mi

kZ© †_‡K AvBwmwe‡K Ae¨vnwZ cª vb K‡i AvBwmwei cwiPvjbv

†evW©‡K dvÛmg~n cwiPvjbvi Aby‡gv`b †`Iqv n‡q‡Q|

BSEC exempted ICB from the condition of appointing Trustee, Custodian and sponsor by their letter dated 7th February 2007 because the funds were floated long before of the present mutual fund rules.

evRvi cwiw ’wZmn mvwe©K we‡ePbvq AvBwmwei Aby‡iv‡ai

†cÖw¶‡Z weGmBwm KZ©…K AvBwmwe cwiPvwjZ 8wU †gqvw`

wgDPy¨qvj dv‡Ûi Aemvqb/iƒcvšÍ‡ii †gqv` ch©vqµ‡g 31

wW‡m¤i 2015 †_‡K 31 wW‡m¤i 2016 ch©šÍ wba©viY Kiv nq|

D‡jøL¨ †h, 30 Ryb 2016 ZvwiL ch©šÍ †gqvw` 8wU AvBwmwe

wgDPy¨qvj dvÛ-Gi g‡a¨ 6wU AvBwmwe wgDPy¨qvj dvÛ‡K (1g

AvBwmwe wgDPy¨qvj dvÛ n‡Z 6ô AvBwmwe wgDPy¨qvj dvÛ) †e-

†gqvw` wgDPy¨qvj dvÛ-G iƒcvšÍi Kiv n‡q‡Q| GQvov, 7g I

8g AvBwmwe wgDPy¨qvj dvÛ-Gi †¶‡ÎI weGmBwm KZ„©K

wba©vwiZ mgq A_©vr h_vµ‡g 30 †m‡Þ¤i 2016 Ges 31

wW‡m¤¦i 2016 Zvwi‡Li g‡a¨ Aemvqb/iƒcvšÍi Kvh©µg m¤úbœ

Kivi wb‡ ©kbv i‡q‡Q|

Considering the overall environment including the market situation, liquidation or conversion of ICB managed 8 mutual funds has been scheduled as per BSEC’s instruction, from 31 December 2015 to 31 December 2016.

Mentionable that, among the 8 closed-end ICB managed Mutual Funds, 6 closed-end Mutual Funds (1st ICB Mutual Fund to 6th ICB Mutual Fund) have already transformed into the 6 open-end Mutual Funds up to 30 June 2016. Besides this, according to the direction of BSEC, the 7th and 8th ICB Mutual Fund will also be transformed/liquidated within the time frame set by the BSEC i.e. 30 September 2016 and 31 December 2016 respectively.

AvBwmwe cwiPvwjZ cÖ_g n‡Z lô AvBwmwe wgDPy¨qvj dv‡Ûi iƒcvšÍi/Aemvqb msµvšÍ cÖ‡qvRbxq Z_¨vw` wb‡¤œ Dc¯’vcb Kiv nj t-

weeiY

cÖ_g AvBwmwe

wgDPy¨qvj dvÛ

wØZxq AvBwmwe

wgDPy¨qvj dvÛ

Z„Zxq AvBwmwe

wgDPy¨qvj dvÛ

PZy_© AvBwmwe

wgDPy¨qvj dvÛ

cÂg AvBwmwe

wgDPy¨qvj dvÛ

lô AvBwmwe

wgDPy¨qvj dvÛ

cÖm‡c±vm cÖKv‡ki ZvwiL 03.03.2016 10.04.2016 10.05.2016 10.05.2016 10.05.2016 29.06.2016

ïiæi ZvwiL 25.04.1980 17.06.1984 19.05.1985 06.06.1986 08.06.1987 16.05.1988

AwfwnZ g~j¨ (UvKvq) 10.00 10.00 10.00 10.00 10.00 10.00

cwi‡kvwaZ g~jab

(j¶ UvKvq)

75.00 50.00 100.00 100.00 150.00 500.00

BDwbU msL¨v 7,50,000 5,00,000 10,00,000 10,00,000 15,00,000 50,00,000

iƒcvšÍi/Aemvq‡bi mgqmxgv 31.12.2015 31.01.2016 28.04.2016 25.04.2016 30.04.2016 30.06.2016

‡iKW© †WU 28.10.2015 29.11.2015 06.03.2016 02.03.2016 28.02.2016 27.04.2016

BDwbU gvwjKM‡Yi we‡kl mfvi ZvwiL 18.11.2015 09.12.2015 16.03.2016 13.03.2016 09.03.2016 09.05.2016

iƒcvšÍi msµvšÍ †iKW© †W‡Ui wfwË‡Z wbU

A¨v‡mU f¨vjy (UvKvq)

140,74,63,401 17,24,16,289 43,33,73,929 31,19,27,256 45,69,10,231 29,58,72,490

iƒcvšÍi msµvšÍ †iKW© †W‡Ui wfwË‡Z BDwbU

cÖwZ wbU A¨v‡mU f¨vjy (UvKvq)

1876.62 344.83 433.37 311.93 304.61 59.17

1wU wgDPy¨qvj dv‡Ûi wecix‡Z cÖvß BDwbU

msL¨v

187.66wU 34.48wU 43.34wU 31.19wU 30.46wU 5.92wU

mvemwµckb ïiæi ZvwiL 08.03.2016 15.04.2016 15.05.2016 15.05.2016 15.05.2016 10.07.2016

9


Meeting for conversion of ICB managed Mutual Funds (1st-6th) from Closed-end Mutual Funds to Open-end Mutual Funds is in progress.

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SyuwK wbwðZ Kivi Rb¨ wgDPy¨qvj dvÛmg~‡ni †cvU©‡dvwjI

weP¶YZv I `¶Zvi mv‡_ cwiPvjbv Kiv nq| wgDPy¨qvj

dvÛmg~‡ni Avw_©K weeiYx‡Z c~Y©v½ Z_¨ cÖKvk I AwaKZi

¯”QZv I Revew`wnZv wbwðZ Kivi j‡¶¨ wbixw¶Z evwl©K P~ovšÍ

wnmv‡ei mv‡_ µqg~j¨ I evRvig~j¨mn wewb‡qvM †cvU©‡dvwjIi

we ÍvwiZ weeiYx, evwl©K jf¨vsk/my` Av‡qi weeiYx, evwl©K

g~jabx gybvdvi weeiYx BZ¨vw` cÖKvk Kiv nq| 30 Ryb 2016

ZvwiL ch©šÍ AvBwmwe cwiPvwjZ 8wU †gqvw` wgDPy¨qvj dvÛ-Gi

g‡a¨ 6wU wgDPy¨qvj dvÛ †e-†gqvw` wgDPy¨qvj dvÛ-G

iƒcvšÍwiZ n‡q‡Q Ges 7g AvBwmwe wgDPz¨qvj dvÛ Aemvqb/

iƒcvšÍ‡ii j‡ÿ¨ cÖwµqvaxb i‡q‡Q| AvBwmwe KZ©…K cwiPvwjZ

8g wgDPy¨qvj dv‡Ûi 2011-12 n‡Z 2015-16 A_©eQ‡ii

Kvh©dj-Gi msw¶ß weeiY wb‡¤œ Dc ’vcb Kiv njt

The portfolios of all the mutual funds were managed with diligence and prudence to ensure maximization of return and minimization of risk for the interest of investors. Statement of Marketable Securities including cost and market price, Statement of dividend/interest income during the year, Statement of Profit on Sale of Securities during the year etc. are expressed publicly for more transparency and accountability and to publish complete information in the statements of mutual funds. Due to conversion of first 6 closed-end mutual funds to open end mutual funds among 8 closed-end mutual funds managed by ICB and liquidation/conversion of 7th ICB MF was being processed within 30 June 2016. The performance of 8th ICB MF for FY 2011-12 to FY 2015-16 is presented here:

Table-1. Financial aggregate of 8th ICB Mutual Fund managed by ICB from FY 2011-12 to FY 2015-16

(Tk. in crore) Particulars 2011-12 2012-13 2013-14 2014-15 2015-16

Income 6.91 6.57 7.33 9.46 9.45 Expenditure 0.16 0.33 0.51 0.83 0.73 Provision 0.26 - - - - Net Income 6.48 6.24 6.82 8.63 8.71 Dividend 5.00 5.50 6.00 7.00 10.00 Paid up capital 5.00 5.00 5.00 5.00 5.00 Net asset value at cost (Tk.) 33.52 35.99 38.63 43.89 47.36 Net asset value at market price (Tk.) 78.96 70.07 80.29 71.89 59.27


10

K…ZÁZv ¯xKvi

Acknowledgement

PjwZ A_©eQ‡ii wewfbœ mg‡q AvBwmwei †kqvigvwjKe„›`, A_©

gš¿Yvjq, wkí gš¿Yvjq, evwYR¨ gš¿Yvjq, evsjv‡`k e¨vsK,

evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgkb, evwYwR¨K

e¨vsKmg~n, exgv K‡c©v‡ikbmg~n, evsjv‡`k †W‡fjc‡g›U e¨vsK

wjt, XvKv ÷K G·‡PÄ wjt, PÆMÖvg ÷K G·‡PÄ wjt, †m›Uªvj

wW‡cvwRUwi evsjv‡`k wjt, evsjv‡`k Bb‡f÷‡g›U †W‡fjc‡g›U

A_wiwU, mswkøó mKj gš¿Yvjq I cÖwZôvb, msev` gva¨g Ges

we‡kl K‡i m¤§vwbZ MÖvnKMY n‡Z AvBwmwe †h mn‡hvwMZv I

AvšÍwiKZv †c‡q‡Q Zvi Rb¨ cwiPvjbv †evW© Mfxi K…ZÁZv

cÖKvk Ki‡Q| cwiPvjbv †evW© Zuv‡ì Ae¨vnZ mn‡hvwMZv

cÖ v‡bi Rb¨ abëv` Rvbv‡”Q Ges fwel¨‡ZI Zuv‡ì mn‡hvwMZv

Kvgbv Ki‡Q|

cwiPvjbv †evW© AvBwmwei Kg©KZ©v Ges Kg©PvwiMY‡K G dvÛ

`¶fv‡e cwiPvjbvi †¶‡Î Zv‡ì KZ©e¨wbôv I wbijm cÖ‡Póvi

Rb¨ abëv` Rvbv‡”Q|

ˆmq` kvnwiqvi Avnmvb

cwiPvjK

†gvt Ave`ym mvjvg

cwiPvjK

†gvn¤§` kvgm&-Dj Bmjvg

cwiPvjK

†gvt Iev‡q` Djøvn Avj gvmy`

cwiPvjK

gbRyi Avng`

cwiPvjK

Gm, Gg, gwbiæ¾vgvb

cwiPvjK

†gvt kwdKzj Bmjvg

cwiPvjK

gynv¤§` AvjKvgv wmwÏKx

cwiPvjK

†gvt BdwZLvi-DR-Rvgvb

eë¯’vcbv cwiPvjK

W. gwRe DwÏb Avn‡g`

†Pqvig¨vb

The Board of Directors puts on record with profound gratitude the assistance and co-operation received by ICB during the year from the shareholders, Ministry of Finance, Ministry of Industries, Ministry of Commerce, Bangladesh Bank, Bangladesh Securities and Exchange Commission, different Commercial Banks, Insurance Corporations, Bangladesh Development Bank Ltd., Dhaka Stock Exchange Ltd., Chittagong Stock Exchange Ltd., Central Depository Bangladesh Ltd., Bangladesh Investment Development Authority, all concerned ministries/ agencies, print and electronic media and particularly from its valued clients. The Board of Directors also thanks them for their unwavering and resolute co-operation and hope that their persistent support will continue in future.

The Board of Directors deeply appreciates the officers and employees of ICB for their excellent performance, sincere and devoted efforts in efficient management of this fund.

Syed Shahriyar Ahsan Director

Md. Abdus Salam Director

Mohammad Shams-Ul Islam Director

Md. Obayed Ullah Al Masud Director

Manjur Ahmed Director

S. M. Moniruzzaman Director

Md. Shafiqul Islam Director

Muhammad Alkama Siddiqui Director

Md. Iftikhar-uz-zaman Managing Director

Dr. Mojib Uddin Ahmed Chairman

11


Aóg AvBwmwe wgDPz¨qvj dvÛ

Eighth ICB Mutual Fund


12

Aóg AvBwmwe wgDPy¨qvj dvÛ


jf¨vsk I my` Avq

2015-16 A_©eQ‡i G dvÛ †gvU 111wU wmwKDwiwUR n‡Z

144.03 j¶ UvKv jf¨vsk I my` eve` Avq K‡i‡Q| GB

dvÛ 2014-15 A_©eQ‡i jf¨vsk I my` eve` Avq K‡iwQj

146.65 j¶ UvKv| 2015-16 A_©eQ‡ii †Kv¤úvwb wfwËK

cÖvc¨ jf¨vsk Ges jf¨vsk Av‡qi we ÍvwiZ weeiY h_vµ‡g

cwiwkó-we Ges cwiwkó-wm G †`Lv‡bv n‡q‡Q|

g~jabx gybvdv

2015-16 A_©eQ‡i G dvÛ 36wU †Kv¤úvwbi wmwKDwiwUR

weµq K‡i 778.93 j¶ UvKv g~jabx gybvdv AR©b K‡i‡Q

hv c~e©eZ©x A_©eQ‡ii Zyjbvq 1.05 kZvsk †ewk|

2014-15 A_©eQ‡i G dvÛ 770.83 j¶ UvKv g~jabx

gybvdv AR©b K‡iwQj| g~jabx gybvdv AR©‡bi we ÍvwiZ

weeiY cwiwkó-wW G †`Lv‡bv n‡q‡Q|

Dividend and Interest Income The Fund has earned an amount of Tk. 144.03 Lac as dividend and interest from investment in securities of 111 companies during 2015-16. In 2014-15 the fund earned an amount of Tk. 146.65 lac as dividend income. Details of dividend receivables & dividend income in the FY 2015-16 are shown in Annexure-B and Annexure-C respectively.

Capital Gain

During 2015-16, the Fund has earned Tk. 778.93 lac as capital gain by selling securities of 36 companies which is 1.05 percent higher than previous year. During 2014-15 it earned Tk. 770.83 lac as capital gains. Details of capital gains are shown in Annexure-D.

Avq, e¨q I eÈb‡hvM¨ gybvdv

†kqvi/e‡Û wewb‡qvM n‡Z jf¨vsk I my` eve` Avq 144.03

UvKv, e¨vsK Avgvb‡Zi Dci my` 21.72 j¶ UvKv, g~jabx

gybvdv 778.93 j¶ UvKv Ges Ab¨vb¨ Avqmn Av‡jvP¨ A_©eQ‡i

G dv‡Ûi †gvU Av‡qi cwigvY uvovq 944.68 j¶ UvKv|

e¨e ’vcbv wd, Kv‡÷vwWqvb wd, wjw÷s wd, AwWU wd, e¨vsK PvR©

Ges Ab¨vb¨ LiP eve` †gvU 73.38 j¶ UvKv ev` †`qvi ci

dv‡Ûi wbU Avq uvovq 871.31 j¶ UvKv| c~e©eZ©x eQ‡ii

Aew›UZ gybvdv 996.56 j¶ UvKv †hvM Kivi ci 30 Ryb 2016

Zvwi‡L dv‡Ûi wbU e›Ub‡hvM¨ Av‡qi cwigvY uvovq 1867.87

j¶ UvKv Ges mvwU©wd‡KU cÖwZ e›Ub‡hvM¨ gybvdvi cwigvY

`uvovq 37.36 UvKv|

Income, Expenses and Distributable Income

During the year under review, the Fund has earned a gross income of Tk. 944.68 lac by way of dividend and interest income from investment of shares/bonds amounting to Tk. 144.03 lac, Tk. 21.72 lac as interest on bank deposits, Tk. 778.93 lac as capital gains and other income. After deducting the total expenses of Tk. 73.38 lac incurred as management fee, custodian fee, listing fee, audit fee, bank charges and other expenses the net income of the Fund stood at Tk. 871.31 lac. Taking into account the previous year’s undistributed income of Tk. 996.56 lac, the Fund had a net distributable total income of Tk. 1867.87 lac and per certificate income of Tk. 37.36 as on 30 June 2016.

jf¨vsk †NvlYv

Av‡jvP¨ dvÛ 2015-16 A_©eQ‡i cÖwZwU 10.00 UvKv

g~j¨gv‡bi mvwU©wd‡K‡Ui Rb¨ 200.00 kZvsk nv‡i jf¨vsk

†NvlYv K‡i‡Q hv c~e©eZx© eQ‡i wQj 140.00 kZvsk|

jf¨vsk cÖ v‡bi Rb¨ †gvU 1000.00 j¶ UvKvi ms¯’vb

ivLvi ci dv‡Û 867.67 j¶ UvKv Aew›UZ gybvdv i‡q‡Q|

wb‡¤œi mviwYi gva¨‡g G dv‡Ûi eQiIqvix jf¨vs‡ki nvi

cÖ wk©Z njt

Dividend Declaration

The Fund declared dividend at the rate of 200.00 percent per certificate of Tk. 10.00 each for the year 2015-16, which was 140.00 percent per certificate in the previous year. After making provision of Tk. 1000.00 lac for payment of dividend the Fund has an undistributed income of Tk. 867.67 lac The Year-wise dividend performance of the Fund is shown through the following Table:

13


Table: Year-wise dividend performance

Financial year Dividend percentage Financial year Dividend percentage

1996-97

1997-98

1998-99

1999-00

2000-01

2001-02

2002-03

2003-04

2004-05

2005-06

18.00

12.00

12.00

12.50

13.00

13.50

13.50

14.00

15.00

15.00

2006-07

2007-08

2008-09

2009-10

2010-11

2011-12

2012-13

2013-14

2014-15

2015-16

18.00

25.00

32.00

65.00

90.00

100.00

110.00

120.00

140.00

200.00

†cvU©‡dvwjI

†m‡KÛvwi gv‡K©‡U 2015-16 A_©eQ‡i G dvÛ wewfbœ LvZwfwËK

wmwKDwiwUmg~‡n 347.84 j¶ UvKv wewb‡qvM K‡i‡Q| 30 Ryb,

2016 Zvwi‡L G dv‡Ûi †cvU©‡dvwjI‡Z 3481.97 j¶ UvKv

µqg~‡jï 192 wU †Kv¤úvwb Ges 24 wU wgDPy¨qvj dv‡Ûi

wmwKDwiwUR wQj hvi evRvig~j¨ wQj 4077.51 j¶ UvKv| 30

Ryb 2016 Zvwi‡L dv‡Ûi †cvU©‡dvwjIi we ÍvwiZ weeiY

cwiwkó-G †Z cÖ wk©Z n‡q‡Q|

30 Ryb 2016 Zvwi‡L cÖwZwU 10.00 UvKv g~j¨gv‡bi Aóg

AvBwmwe wgDPy¨qvj dvÛ mvwU©wd‡K‡Ui jf¨vsk cieZx© wbU

m¤ú`g~j¨ ùvovq 39.27 UvKv| XvKv ÷K G·‡PÄ wjt-G 2015-16 A_©eQ‡i 10.00 UvKv

g~j¨gv‡bi Aóg AvBwmwe wgDPy¨qvj dv‡Ûi mvwU©wd‡KU cÖwZ

cÖviw¤¢K I mgvcYx evRvi g~j¨ wQj h_vµ‡g 66.40 UvKv I

67.80 UvKv|

30 Ryb 2016 Zvwi‡L dv‡Ûi mvwU©wd‡KU †nvìvi‡ì msL¨v wQj

5646 Rb|

Portfolio During 2015-16 the Fund invested of Tk. 347.84 lac in securities of different sectors in Secondary Market. As on 30 June 2016 the Fund had securities of 192 companies and 24 mutual funds in its portfolio with a total cost of Tk. 3481.97 lac, the market value of which was Tk. 4077.51 lac. Details of the portfolio of the Fund as on 30 June 2016 are given in Annexure-A. The ex-dividend net asset value per certificate of Tk. 10.00 each of Eighth ICB Mutual Fund stood at Tk. 39.27 as on 30 June 2016.

During 2015-16 the opening and closing market price per certificate of the Eighth ICB Mutual Fund of Tk. 10.00 each was Tk. 66.40 and Tk. 67.80 respectively at DSE. The number of Certificate holders of the Fund was 5646 as on 30 June 2016.


14

Auditors’ Report To the Certificate Holders’ of Eighth ICB Mutual Fund

We have audited the accompanying financial statements of Eighth ICB Mutual Fund (the “Fund”), which comprise the Statement of Financial Position as at June 30, 2016 and the related Statement of Profit or Loss and Other Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows for the year then ended and a summary of significant accounting policies and other explanatory information disclosed in note 1 to 25 and annexure A to D. Management’s Responsibility for the Financial Statements

Management of the fund is responsible for the preparation and fair presentation of these financial statements in accordance with Bangladesh Financial Reporting Standards (BFRS), and for such internal control as management determines is necessary to enable the preparation of Financial Statements that are free from material misstatement, whether due to fraud or error.

Auditors’ Responsibility

Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with Bangladesh Standards on Auditing (BSA). Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosure in the Financial Statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risk of material misstatement of the Financial Statements, whether due to the fraud or error. In making those risk assessments, the auditors consider internal control relevant to the fund’s preparation and fair presentation of the Financial Statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the fund’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and reasonableness of accounting estimates made by management of the fund, 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 basis for our audit opinion. Opinion

In our opinion, the financial statements presents fairly, give a true and fair view of the financial position of Eighth ICB Mutual Fund as at June 30, 2016 and their financial performance and Cash Flows for the year then ended in accordance with Bangladesh Financial Reporting Standards (BFRS) and comply with ICB Ordinance 1976, Investment Corporation of Bangladesh ACT-2014 and Securities and Exchange Commission Rules 1987 and other applicable rules and regulations.

15


Emphasis of Matter

1. Provision for loss on value of investment, possible fluctuation of price of investment and provision against investment in Non-CDS shares totaling Tk. 128,908,283.00 shown in financial statements although entity has unrealized gain of Tk. 59,554,441.32 on salable securities which has been disclosed in Note No. - 24.

2. We also draw attention to Note No. - 23 of the financial statements which describes the deviation of few requirements of BAS/BFRS due to considering volatile stock market scenario and conservative policy of management.

3. While checking, we found a difference of total quantity of 177,578 shares between Individual share portfolio statement of Central Accounts with CDBL share portfolio statement. Reportedly the reconciliation is under process. Our opinion is not qualified for the matters discussed in preceding paragraph 1 to 3.

We also report that:

(a) we have obtain all the information and explanations which to the best of our knowledge and belief where necessary for the purposes of our audit and made due verification thereof;

(b) in our opinion, proper books of account as required by the law have been kept by the Fund so far as it appeared from our examination of those books;

(c) the Statement of Financial Position and Statement of Profit or Loss and Other Comprehensive Income dealt with by the report are in agreement with books of account ; and

(d) the expenditure incurred was for the purpose of the Fund’s business.

Khan Wahab Shafique Rahman & Co. Rahman Mostafa Alam & Co.Chartered Accountants Chartered Accountants Dated: Dhaka July 27, 2016


16


Statement of Financial Position As at June 30, 2016

Particulars Notes Amount (In Taka)

30.06.2016 30.06.2015 Assets Investments at Cost 4 348,197,034 343,907,667 Cash at Bank 5 72,692,710 51,729,167 Dividend and Interest Receivable 6 1,381,475 2,505,239 Installments Receivable of Investments 7 4,448,305 4,956,376

Total Assets 426,719,524 403,098,449

Liabilities Accrued Expenses 8 62,925 46,925 Unclaimed Dividend 9 49,852,877 43,056,776 Provision for dividend & interest receivable 10 1,611,048 2,113,758 Provision for Loss on value of investments 11 64,323,283 64,323,283 Provision for possible fluctuation of investment 12 48,345,259 64,585,000 Provision against investment in Non-CDS Shares 12.a 16,239,741 - Other Liabilities 13 9,497,637 9,518,579

Total Liabilities 189,932,770 183,644,321

Net Assets 236,786,754 219,454,128

Net assets consists of Capital Fund 14 50,000,000 50,000,000 Distributable Income 15 186,786,754 169,454,128

236,786,754 219,454,128 Net Asset Value (NAV) per share:

Net assets-at cost 236,786,754 219,454,128 Net assets-at market value 296,341,195 359,451,019 Share of capital stock outstanding 5,000,000 5,000,000 Net asset value-at cost 47.36 43.89 Net asset value-at market value 59.27 71.89

The annexed notes 1 to 25 and annexure A to D form an integral part of these financial statements.

Mojib Uddin Ahmed Ph.D

Chairman Manjur Ahmed

Director Md. Iftikhar-uz-zaman

Managing Director

Md. Emdad Hossain Mollah

Chief Financial Officer Dipika Bhattacharjee

Company Secretary

Signed in terms of our separate report of even date.

Khan Wahab Shafique Rahman & Co. Rahman Mostafa Alam & Co. Chartered Accountants Chartered Accountants Dhaka, 27 July, 2016

17



Statement of Profit or Loss & Other Comprehensive Income For the year ended 30 June, 2016

Particulars Notes Amount (In Taka)

2015-2016 2014-2015 Income

Dividend and Interest 16 14,403,861 14,665,233 Interest on Bank Deposits 17 2,171,577 2,817,896 Net realized gain on Investment (Details are shown in Annexure-D) 18 77,893,051 77,083,094 Others Income - 5,518 94,468,489 94,571,742

Expenses Management Fee 19 6,056,381 7,058,058 Custodian Fee 20 442,508 491,852 Listing Fee 21 100,000 60,000 Audit Fee 30,000 14,000 Bank Charges 5,750 19,908

Others Expenses 22 702,973 620,846 7,337,612 8,264,664

Net Income before Provision 87,130,876 86,307,078

Provision: Provision for Loss on value of investments - - Provision for possible fluctuation of investment - - - -

Net Income for the year 87,130,876 86,307,078 Undistributed Income from previous year 99,655,878 83,147,050 Distributable income carried to Statement of Financial Position 186,786,754 169,454,128

Earning per certificate during the year 17.43 17.26

The annexed notes 1 to 25 and annexure A to D form an integral part of these financial statements.




Managing Director



Company Secretary

Signed in terms of our separate report of even date.

Khan Wahab Shafique Rahman & Co. Rahman Mostafa Alam & Co. Chartered Accountants Chartered Accountants Dhaka, 27 July, 2016


18

Eighth ICB Mutual FundStatement of Changes in Equity

For the year ended 30 June, 2016

Particulars Capital Fund

General Reserve

Distributable Income Total

Balance as at 01 July 2014 50,000,000 - 143,147,049 193,147,049 Net income for the period - - 86,307,078 86,307,078 Dividends - - (60,000,000) (60,000,000) Balance as at 01 July 2015 50,000,000 - 169,454,127 219,454,127 Net income for the period - - 87,130,877 87,130,877 Dividends - - (70,000,000) (70,000,000) Prior Year Adjustment - - 201,750 201,750 Balance as at 01 July 2016 50,000,000 - 186,786,754 236,786,754




Managing Director



Company Secretary

Dated: Dhaka July 27, 2016

19


Eighth ICB Mutual Fund Statement of Cash Flows

For the year ended June 30, 2016

Particulars Amount (In Taka) 2015-2016 2014-2015

Cash Flows from Operating Activities:

Net Income before provision 87,130,876 86,307,078 Add: Prior Year Adjustment 201,750 - Adjustment for: Share Application Money - 1,496,800 Dividend and Interest Receivable 1,123,764 86,066 Other Liabilities (523,652) (14,525) Accrued Expenses 16,000 (2,100) Sale/(Purchase) of Marketable Investments (net) (3,781,296) (43,435,625) Net Cash inflows from operating activities 84,167,442 44,437,694 Cash Flows from Financing Activities: Dividend Paid (60,504,803) (53,026,964) Tax at Source (2,699,096) (1,954,932) Net Cash Outflows from Financing Activities (63,203,899) (54,981,896) Net Increase/(Decrease) in Cash 20,963,543 (10,544,202) Cash and cash equivalents at beginning of the year 51,729,167 62,273,369 Cash and cash equivalents at end of the year 72,692,710 51,729,167




Managing Director



Company Secretary

Dated: Dhaka July 27, 2016


20


Notes to the Financial Statements

As at and for the year ended June 30, 2016

1. The Fund and its activities: 1.1 Status of the fund:

Investment Corporation of Bangladesh (ICB) was established in 1976 with the objectives of accelerating industrialization and economic development of the country through development of capital market by mobilizing savings and encouraging and improving the investment climate in the country with particular emphasis placed on broadening the base and scope of investments as well as tapping marginal investors. Keeping in line with these objectives, the Eighth ICB Mutual Fund (the Fund) was established in July 1996, under Regulation 29A of ICB (General) Regulations with a total capital of Tk. 500,00,000.00 divided into 50,00,000 Certificates of Tk. 10 each. The management of the Fund is vested with ICB.

1.2 Nature of Business: The business of the Fund is to mobilize savings from the investors by way of selling certificates and investing the funds in securities so as to ensure maximum return for certificate holders. This is a close-end Fund invested in securities as a single account. Income, net of expenses, is distributable to certificate holders on a yearly basis.

2. Basis of preparation: 2.1 Statement of compliance:

The financial statements have been prepared accordance with Bangladesh Accounting Standards (BAS) and Bangladesh Financial Reporting Standards (BFRS) and other applicable laws and regulations. The financial statements have been approved by the Board of Directors of Investment Corporation of Bangladesh in its meeting held on July 27, 2016.

2.2 Basis of accounting:

The annexed financial statements have been prepared under historical cost convention. 2.3 Functional and presentation currency:

These financial statements are prepared in Bangladeshi Taka which is the Fund’s functional currency. All financial information presented in Taka and has been rounded off to the nearest integer.

2.4 Use of estimates and judgments:

The preparation of financial statements requires management to make judgment, estimates and assumptions that affect the application of Accounting policies and the reported amounts of assets, liabilities, income and expenses.

2.5 Reported period:

These financial statements covers one year from July 01 to June 30 and followed consistently.

21


3. Significant Accounting Policies: 3.1 Marketable Investments:

(i) Shares and redeemable value of debentures are stated at average cost price for purchases from primary and secondary markets.

(ii) Profit / Loss on sale of shares are accounted for based on difference between average cost price and selling price.

(iii) Dividend income from stock is recognized when shareholders’ right is established.

(iv) Bonus shares i.e. stock dividend received or receivable from various companies is not accounted

for income as per BAS, however, included in the portfolio and as such the average cost price per share of portfolio has been reduced.

3.2 Taxation:

The Fund’s income is exempted from income tax vide Ministry of Finance SRO no. 88-L/ 80 of April 01, 1980.

3.3 Cash and Bank: Cash and bank balance are carried at fair value. 3.4 General:

(i) Except for certain expenses reflected in these financial statements all other expenses including premises and equipment expenses are borne by ICB and, therefore, not reflected in these financial statements.

(ii) Management fee at the rate of 1% - 2.50% based on amount of capital fund is paid to ICB for management services and support received from the Corporation.

(iii) Figures in these financial statements have been rounded off to the nearest Taka. Previous year's figures have been rearranged wherever found necessary to conform to current year's presentation.


22

Amount (In Taka) 30.06.16 30.06.15 4.00 Marketable Investments at Cost 348,197,034 343,907,667

The market value of investments was Tk. 407,751,475.65 at the close of business on June 30, 2016 which indicates a surplus of Tk. 59,554,441.32 between market price and cost. (See Annexure-A for details)

5.00 Cash at Bank

Agrani Bank (Amin Court Branch), STD A/c-875829 2,136 3,173 Agrani Bank (Amin Court Branch), STD A/c-853894 72,997 71,486 IFIC Bank (Federation Branch), STD A/c-863001187 9,300 8,827 IFIC Bank (Federation Branch), STD A/c-863001336 5,935 5,633 IFIC Bank (Federation Branch), STD A/c-863001451 105,039 99,702 IFIC Bank (Federation Branch), STD A/c-863001583 - 0 IFIC Bank (Federation Branch), STD A/c-863001749 10,372 9,845 IFIC Bank (Federation Branch), STD A/c-863001914 24,267 23,034 IFIC Bank (Federation Branch), STD A/c-863002103 10,828 10,278 IFIC Bank (Federation Branch), STD A/c-1008-000125-041 19,294 18,314 IFIC Bank (Federation Branch), STD A/c-1008-000229-041 43,974 390 IFIC Bank (Federation Branch), STD A/c-1008-000261-041 240,042 305,364 IFIC Bank (Federation Branch), STD A/c-1008-000351-041 793,972 815,125 IFIC Bank (Federation Branch), STD A/c-1008-000441-041 3,318,219 3,249,150 IFIC Bank (Motijheel Branch), Current A/c-88936 163,114 3,381,566 IFIC Bank (Motijheel Branch), STD A/c-2803 60,147,873 35,979,521 IFIC Bank (Federation Branch), SND A/c-1008-000583-041 3,387,195 3,505,493 IFIC Bank (Federation Branch), SND A/c-1008-000515-041 4,289,973 4,242,264 IFIC Bank (Federation Branch), SND A/c-1008-666-041 48,180 - Total: 72,692,710 51,729,167

6.00 Dividend and Interest Receivable

Dividend Receivable for more than one year 428,481 428,481 Interest on Debenture Receivable for more than one year - 502,710 Dividend Receivable for less than one year 952,995 1,574,048 Total: 1,381,475 2,505,239

(See Annexure-B for details)

6.01 Movement of Dividend and Interest Receivable Opening Balance 2,505,239 2,591,305 Add: Receivable during the year 952,995 1,574,048 Less: Received during the year (2,076,759) (1,660,114) Closing Balance 1,381,475 2,505,239

23


Amount (In Taka)

30.06.16 30.06.15 7.00 Installments Receivable of Investments

Opening Balance 4,956,376 4,956,376 Less: Installments received during the period 508,071 -

4,448,305 4,956,376

7.01 Installments received during the period 1. Bextex Ltd. (10th Installment) 156,943 - 2. Bextex Ltd. (11th Installment) 328,154 - 3. Beximco Ltd. (10th Installment) 7,658 - 4. Beximco Ltd. (11th Installment) 7,658 - 5. Beximco Ltd. (11th Installment) 7,658 -

508,071 -

8.00 Accrued Expenses Opening Balance 46,925 49,025 Add : Payable During the Year - Audit Fee 30,000 14,000 CDBL Charges - - Others/Advertisement bill - - Less : Adjustment During the Year 14,000 16,100 Total: 62,925 46,925

9.00 Unclaimed Dividend

Opening Balance 43,056,776 38,038,672 Add: Dividend Declared during the year 70,000,000 60,000,000 Less: Dividend paid during the year (60,504,803) (53,026,964) Less: Tax deducted at source during the year (2,699,096) (1,954,932) Closing balance 49,852,877 43,056,776

10.00 Provision for dividend & interest receivable 2,113,758 2,113,758 Less: Adjustment made during the year (502,710) -

1,611,048 2,113,758 11.00 Provision for Loss on value of investments

Opening balance 64,323,283 64,323,283 Add: Provision during the year - - Closing Balance 64,323,283 64,323,283

12.00 Provision for possible fluctuation of investment

Opening balance 64,585,000 64,585,000

Less: Provision transferred to Provision against investment in Non-CDS Shares (16,239,741) -

Closing Balance 48,345,259 64,585,000

12.a Provision against investment in Non-CDS shares 16,239,741 -

24


Amount (In Taka) 2015-2016 2014-2015

13.00 Other Liabilities

Opening balance 9,518,579 9,533,104 Less: Adjustment during the year (20,942) (14,525)Closing Balance 9,497,637 9,518,579

14.00 Capital Fund 50,000,000 50,000,000

The Capital Fund is divided into 5,000,000 certificates of Tk. 10 each fully paid up in cash.

15.00 Distributable Income

Opening Balance 169,454,128 143,147,049 Less: Dividend Declared (70,000,000) (60,000,000)

99,454,128 83,147,049 Add: Net Income 87,130,876 86,307,078 Add: Prior Year Adjustment 201,750 - Closing Balance 186,786,754 169,454,128

16.00 Dividend & Interest

Dividend 14,398,158 14,665,233 Interest 5,703 - Total: 14,403,861 14,665,233

16.01 Dividend Dividend Received During the Year 13,445,163 14,665,233 Dividend Receivable During the Year 952,995 -

14,398,158 14,665,233 (See Annexure- B & C for details)

17.00 Interest on Bank Deposits 2,171,577 2,817,896

18.00 Other Income Re-issuance charge - 5,518 Splitting Charge Refunded - - Prior Year Adjustment - -Total: - 5,518

19.00 Management Fee 6,056,381 7,058,058 Management fee calculated as per BSEC rules is paid to ICB for management services and support

received from the Corporation.

25


Amount (In Taka) 2015-2016 2014-2015

20.00 Custodian Fee 442,508 491,852 Custodian fee calculated as per BSEC rules is paid to ICB for the services as Custodian. 100% of the

Fees has been charged during the FY 2015-16 as per the decision of the Board of Directors. 21.00 Listing Fee Dhaka Stock Exchange 50,000 30,000 Chittagong Stock Exchange 50,000 30,000 Total: 100,000 60,000 22.00 Other Expenses Stock exchange charge 285,286 394,845 Miscellaneous 2,550 3,450 CDBL charge 51,060 48,903 SEC yearly fees 276,427 105,161 Advertisement expenses 50,000 50,000 Excise Duty 37,650 18,300 Tax on Interest - 186 Vat - - Total: 702,973 620,846 23.00 Disclosure of deviations from few requirements of BAS/BFRS

There have been few deviations from the requirements of BAS/BFRS which are shown below along with financial impact where applicable:

(a) Investments in quoted and unquoted shares are revalued at year-end at cost price. However, adequate provision are kept when market value is lower than cost price. Investments have not been accounted in market value (MV) which is a very newly adopted accounting standard in Bangladesh. In the Financial Statement this standard has not been considered due to volatile stock market scenario, conservative policy of fund management and prevailing dividend policy of mutual fund. At the year-end market value (for quoted shares) and book value (for unquoted shares) are higher than cost price by Tk. 59,554,441.32.

(b) Some disclosure and presentation requirements as per BFRS 7 and BAS 32 regarding risk management have not been made in the financial statements. However, management of the fund is prudent in risk management which is evident from steady growth of the fund. The fund is not exposed to any foreign currency and interest rate risk.

26


24.00 Investments have been valued on aggregate portfolio basis and provision is required to be made considering overall decrease in the value of investment. The fund maintains provision for loss on value of investment, provision for possible price fluctuation and provision against investment in Non-CDS Shares which is shown in Statement of Financial Position under liabilities amounting to Tk. 128,908,283.00.

25.00 Event after the reporting date

The Board of Directors of Investment Corporation of Bangladesh declared cash dividend of Tk. 20 per certificate for the year ended 30 June 2016 in its meeting held on 27th July, 2016.




Managing Director



Company Secretary

27



Individual Portfolio Report As on 30 June, 2016

1 AB Bank Ltd. 132,516 10.00 12.84 1,700,985.65 15.70 2,080,501.20 2 Al Arafa Islami Bank Ltd. 20,553 12.85 12.87 264,092.08 13.20 271,299.60 3 Bank Asia Limited 123,040 10.00 15.91 1,957,358.55 16.00 1,968,640.00 4 BRAC Bank Ltd. 392 10.00 12.90 5,057.30 53.00 20,776.00 5 City Bank Ltd. 25,000 10.00 21.90 547,500.00 24.00 600,000.00 6 Dhaka Bank Ltd. 29,819 10.00 9.09 271,028.50 15.00 447,285.00 7 Dutch Bangla Bank Limited 70 10.00 11.28 789.83 104.90 7,343.00 8 Eastern Bank Ltd. 58,940 10.00 28.31 1,662,973.60 29.20 1,721,048.00 9 Exim Bank Of Bangladesh Ltd. 33,318 10.00 7.23 240,747.25 8.00 266,544.00

10 First Security Bank Ltd. 240,495 10.00 7.43 1,786,902.29 8.20 1,972,059.0011 I.F.I.C. Bank Ltd. 172,242 10.00 22.42 3,861,718.75 15.90 2,738,647.80 12 Islami Bank Ltd. 165,450 10.00 16.29 2,694,980.38 29.20 4,831,140.00 13 Jamuna Bank Limited 99,311 10.00 20.00 1,986,700.00 11.90 1,181,800.90 14 Mercantile Bank Limited 15,732 10.00 6.81 107,125.77 10.00 157,320.00 15 Mutual Trust Bank Ltd. 136,707 10.00 16.80 2,297,098.14 17.20 2,351,360.40 16 N C C Bank Ltd. 98,342 10.00 2.71 266,856.36 8.70 855,575.40 17 National Bank Ltd. 1,941 10.00 0.05 92.53 8.00 15,528.00 18 One Bank Limited 40,668 10.00 4.68 190,509.87 13.00 528,684.00 19 Premier Bank Limited 804 10.00 2.21 1,774.85 6.90 5,547.60 20 Prime Bank Limited 125,836 10.00 34.83 4,383,125.00 15.80 1,988,208.80 21 Pubali Bank Ltd. 33,016 10.00 6.72 221,996.60 20.10 663,621.60 22 Shahjalal Islami Bank Ltd. 36,864 10.00 4.61 169,921.46 11.50 423,936.00 23 Social Islami Bank Limited 34,294 10.00 10.93 374,894.17 13.00 445,822.00 24 Southeast Bank Limited 124,160 10.00 11.92 1,479,630.57 15.90 1,974,144.00 25 Standard Bank Limited 276,941 10.00 5.27 1,460,149.16 8.30 2,298,610.30 26 Trust Bank Ltd. 295,186 10.00 6.82 2,013,648.19 18.50 5,460,941.00 27 United Comercial Bank Ltd. 25,000 10.00 16.00 400,000.00 16.80 420,000.00 28 Uttara Bank Ltd. 17,000 10.00 19.49 331,349.00 20.20 343,400.00 29 Confidence Cement Ltd. 11,821 10.00 73.74 871,646.58 80.70 953,954.70 30 Heidelberg Cement Bd. Ltd. 19,610 10.00 276.12 5,414,634.74 522.10 10,238,381.00 31 Lafarge Surma Cement Ltd. 176,550 10.00 51.41 9,076,333.03 79.10 13,965,105.00 32 M.I. Cement Factory Limited 15,000 10.00 82.85 1,242,800.00 74.90 1,123,500.00 33 Meghna Cement Mills Ltd. 44,653 10.00 114.90 5,130,762.20 86.60 3,866,949.80 34 Fu-Wang Ceramics Inds.Ltd. 12,516 10.00 10.81 135,250.59 16.20 202,759.20 35 Monno Ceramic Industries Ltd. 3,260 10.00 15.73 51,272.10 36.80 119,968.00 36 Rak Ceramics(Bangladesh) Ltd. 16,418 10.00 42.11 691,280.30 60.90 999,856.20 37 Shinepukur Ceramics Ltd. 36,104 10.00 53.54 1,933,180.62 8.80 317,715.20 38 Standard Ceramic Ltd. 1,050 10.00 13.81 14,505.55 45.30 47,565.00 39 Mudaraba Perpetual Bond 7,185 1,000.00 999.60 7,182,110.00 988.75 7,104,168.75 40 Aftab Automobiles Ltd. 22,062 10.00 65.25 1,439,551.15 48.90 1,078,831.80 41 Bangladesh Building System Ltd 7,596 10.00 28.45 216,100.00 40.90 310,676.4042 Bengal Windsor Thermoplastics Ltd. 2,103 10.00 21.05 44,259.50 50.00 105,150.00 43 Bsrm Limited 40 10.00 0.00 0.00 147.80 5,912.00 44 Bsrm Steels Limited 20,274 10.00 73.17 1,483,445.80 92.30 1,871,290.20 45 Eastern Cables Ltd. 1,100 10.00 31.95 35,140.38 135.00 148,500.00 46 Golden Son Ltd. 444 10.00 12.95 5,750.00 23.90 10,611.60 47 Navana Cng Limited 82,150 10.00 47.05 3,865,411.30 46.20 3,795,330.00 48 Singer Bangladesh Ltd. 51,301 10.00 145.85 7,482,415.30 153.30 7,864,443.30 49 Western Marine Shipyard Ltd. 7,150 10.00 31.82 227,500.00 26.50 189,475.00 50 Wonderland Toys Limited 27,000 100.00 10.00 270,000.00 68.25 1,842,750.00 51 B A T B C 25 10.00 121.69 3,042.14 2,700.00 67,500.00 52 Bangas Ltd. 1,586 10.00 2.33 3,699.25 162.90 258,359.40 53 Fine Foods Limited 33 10.00 0.00 0.00 7.70 254.10 54 Fu-Wang Foods Limited 2,943 10.00 6.02 17,728.65 14.00 41,202.0055 Gemini Sea Food Ltd. 278 10.00 12.07 3,355.17 909.50 252,841.00 56 Golden Harvest Agro Ind. Ltd. 46,545 10.00 22.50 1,047,150.11 27.20 1,266,024.00 57 National Feed Mill Ltd 2,750 10.00 9.09 25,000.00 22.40 61,600.0058 Olympic Industries Ltd. 52 10.00 41.03 2,133.79 345.30 17,955.60 59 Rangpur Dairy & Food Prod Ltd. 2,710 10.00 13.28 36,000.00 13.50 36,585.00 60 Bangladesh Welding Electrodes 1,087 10.00 8.56 9,300.00 10.10 10,978.70

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61 Baraka Power Limited. 10,000 10.00 29.80 298,000.00 29.00 290,000.00 62 Dhaka Electric Supply Co. Ltd. 21,880 10.00 43.36 948,759.87 50.10 1,096,188.00 63 Gbb Power Limited 75,118 10.00 19.21 1,443,205.93 14.40 1,081,699.20 64 Jamuna Oil Company Ltd. 15,330 10.00 108.57 1,664,338.48 181.80 2,786,994.00 65 Khulna Power Company Ltd. 16,673 10.00 66.50 1,108,714.07 64.90 1,082,077.70 66 Linde Bangladesh Ltd. (Boc) 7,300 10.00 130.17 950,235.23 1,437.00 10,490,100.00 67 Meghna Petroleum Ltd. 44,856 10.00 80.40 3,606,490.93 172.30 7,728,688.80 68 Mjl Bangladesh Limited 197,375 10.00 105.67 20,857,008.20 96.30 19,007,212.50 69 Power Grid Co. Bd. Ltd. 116,675 10.00 46.14 5,383,613.45 58.10 6,778,817.50 70 Summit Power Ltd. 109,341 10.00 30.94 3,383,403.52 33.90 3,706,659.90 71 Summit Purbanchol Power Co Ltd 131,070 10.00 52.96 6,941,650.70 40.60 5,321,442.00 72 Titas Gas Transmission & D.C.L 272,970 10.00 73.27 20,001,688.48 48.30 13,184,451.0073 Anlima Yarn Dyeing Ltd. 1,500 10.00 10.10 15,151.74 28.30 42,450.00 74 Apex Spinning & Knitting 1,600 10.00 20.19 32,311.30 93.20 149,120.00 75 Apex Weaving & Finishing Mills 268,500 10.00 9.25 2,484,314.60 15.67 4,207,395.00 76 Delta Spinners Ltd. 90,000 10.00 8.62 775,573.46 8.20 738,000.00 77 Envoy Textiles Ltd. 9,914 10.00 24.21 240,000.00 35.00 346,990.00 78 Generation Next Fashions Ltd. 5,905 10.00 5.45 32,176.20 7.30 43,106.50 79 H.R.Textile Mills Ltd. 2,421 10.00 6.43 15,562.53 22.70 54,956.70 80 Hamid Fabrics Limited 8,746 10.00 17.47 152,768.00 17.70 154,804.20 81 Hamid Fabrics Ltd. 1,320 10.00 31.82 42,000.00 31.82 42,000.00 82 Maksons Spinning Mills Ltd. 660,009 10.00 14.29 9,434,675.15 7.30 4,818,065.70 83 Malek Spinning Mills Ltd. 155,800 10.00 23.96 3,732,300.00 16.90 2,633,020.00 84 R. N. Spinning Mills Limited 84,373 10.00 28.82 2,431,865.13 18.30 1,544,025.90 85 Safko Spinning Mills Ltd. 3,023 10.00 9.43 28,500.00 12.50 37,787.50 86 Saiham Cotton Mills Ltd. 11,000 10.00 21.93 241,200.00 13.10 144,100.00 87 Saiham Textile Mills Ltd. 24,725 10.00 11.87 293,503.79 14.10 348,622.50 88 Sajib Knitwear & Garments Ltd. 17,900 100.00 44.09 789,212.50 37.00 662,300.00 89 Shasha Denims Ltd 4,370 10.00 30.43 133,000.00 34.60 151,202.00 90 Square Textiles Ltd 30,339 10.00 47.40 1,438,163.89 70.80 2,148,001.20 91 Tallu Spinning Mills Ltd. 270,812 10.00 8.26 2,235,960.39 14.70 3,980,936.40 92 Aamra Technologies Ltd. 225,751 10.00 33.40 7,541,087.82 23.40 5,282,573.40 93 Bdcom Online Limited 90 10.00 0.00 -0.02 22.30 2,007.00 94 Agrani Insurance Co. Ltd. 40,855 10.00 16.05 655,607.60 13.10 535,200.50 95 Asia Insurance Limited 18,066 10.00 10.09 182,323.30 12.50 225,825.00 96 Asia Pacific General Insurance 15,980 10.00 14.05 224,529.56 13.50 215,730.00 97 Bangladesh Gen. Insurance Co. 66,926 10.00 11.88 795,236.89 14.30 957,041.80 98 City General Insurance Co. Ltd 96,503 10.00 6.98 673,954.19 10.80 1,042,232.40 99 Continental Insurance Ltd. 37,678 10.00 8.64 325,525.94 11.80 444,600.40

100 Dhaka Insurance Limited 14,712 10.00 0.00 -0.10 14.90 219,208.80 101 Eastern Insurance Co.Ltd. 37,096 10.00 17.18 637,130.00 22.20 823,531.20 102 Eastland Insurance Co.Ltd. 76,969 10.00 2.61 200,818.38 17.70 1,362,351.30 103 Fareast Islami Life Insurance 3,162 10.00 124.60 394,000.00 68.60 216,913.20104 Global Insurance Ltd. 25,086 10.00 9.74 244,341.06 10.80 270,928.80 105 Green Delta Insurance 5,272 10.00 74.87 394,690.00 45.30 238,821.60 106 Islami Insurance Bd Ltd. 31,885 10.00 4.86 155,000.00 15.70 500,594.50 107 Mercantile Insurance Co. Ltd 62,979 10.00 13.23 832,956.36 10.70 673,875.30 108 Nitol Insurance Company Ltd. 14,563 10.00 15.41 224,350.00 23.00 334,949.00 109 Northern General Insurance Co 10,330 10.00 3.87 40,000.00 14.90 153,917.00 110 Padma Islami Life Insurance 2,160 10.00 9.26 20,000.00 24.70 53,352.00 111 Paramount Insurance Co. Ltd. 52,532 10.00 6.66 349,804.23 10.70 562,092.40 112 Phoenix Insurance Co.Ltd. 27,332 10.00 2.21 60,438.91 19.70 538,440.40 113 Pioneer Insurance Company Ltd 104,975 10.00 29.06 3,050,891.70 30.70 3,222,732.50 114 Pragati Insurance Ltd. 6,451 10.00 22.20 143,212.85 23.50 151,598.50 115 Prime Insurance Company Ltd. 96,862 10.00 6.95 673,596.55 14.30 1,385,126.60 116 Prime Islami Life Insurance Lt 22,326 10.00 2.44 54,468.18 60.70 1,355,188.20 117 Provati Insurance Company Ltd. 24,282 10.00 5.35 130,000.00 11.10 269,530.20 118 Reliance Insurance Co. Ltd 19,622 10.00 2.48 48,600.00 43.00 843,746.00 119 Republic Insurance Co. Ltd. 10,420 10.00 4.80 50,000.00 12.00 125,040.00 120 Rupali Insurance Company Ltd 122,124 10.00 8.22 1,004,236.09 13.10 1,599,824.40 121 Rupali Life Insurance Co. Ltd. 29,581 10.00 15.69 464,180.00 34.70 1,026,460.70 122 Sandhani Life Insurance Co.Ltd 70,903 10.00 0.28 19,846.00 35.40 2,509,966.20 123 Sonar Bangla Insurance Ltd. 54,131 10.00 7.51 406,266.50 13.40 725,355.40124 Standard Insurance Ltd. 15,770 10.00 5.07 80,000.00 11.30 178,201.00

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125 Sunlife Insurance Co. Ltd. 6,426 10.00 8.56 55,000.00 27.90 179,285.40 126 Takaful Islami Insurance Ltd. 11,135 10.00 4.16 46,278.00 13.40 149,209.00 127 United Insurance Ltd. 24,410 10.00 3.97 96,879.08 20.70 505,287.00 128 Dbh First Mutual Fund 29,000 10.00 10.00 290,000.00 6.00 174,000.00 129 Ebl First Mutual Fund 99,726 10.00 8.62 860,000.00 4.90 488,657.40 130 Exim Bank 1st Mutual Fund 118,122 10.00 8.47 1,000,000.00 5.40 637,858.80 131 First Janata Bank Mutual Fund 178,432 10.00 7.67 1,368,700.00 5.00 892,160.00 132 Grameen One : Scheme Two 13,617 10.00 7.34 100,000.00 10.80 147,063.60 133 Green Delta Mutual Fund 153,000 10.00 8.80 1,346,100.00 5.80 887,400.00 134 Icb Amcl First Mutual Fund 11,000 10.00 10.00 110,000.00 24.60 270,600.00 135 Icb Amcl First Nrb Mutual Fun 50,000 10.00 10.00 500,000.00 18.90 945,000.00 136 Icb Amcl Islamic Mutual Fund 100 10.00 15.50 1,550.00 15.50 1,550.00 137 Icb Amcl Second Mutual Fund 311,000 10.00 11.56 3,595,300.00 5.30 1,648,300.00 138 Icb Amcl Second Nrb M.F. 127,000 10.00 9.93 1,261,000.00 8.10 1,028,700.00 139 Icb Amcl Sonali Bank 1st Mf 520,500 10.00 9.97 5,191,800.00 6.20 3,227,100.00140 Icb Amcl Third Nrb Mutual Fund 172,000 10.00 9.47 1,628,500.00 4.60 791,200.00 141 Icb Employees Prov.M.F.One:S.O 219,500 10.00 9.92 2,177,200.00 6.50 1,426,750.00 142 Ific Bank 1st Mf 51,697 10.00 7.83 405,000.00 4.80 248,145.60 143 Ifil Islamic Mutual Fund-1 594,000 10.00 7.15 4,245,800.00 6.80 4,039,200.00 144 Mbl 1st Mutual Fund 85,500 10.00 10.00 855,000.00 5.80 495,900.00 145 Nccbl Mutual Fund-1 45,751 10.00 9.22 421,660.60 6.10 279,081.10 146 Phoenix Finance 1st Mf 37,000 10.00 9.43 348,850.00 4.80 177,600.00 147 Popular Life First Mutual Fund 206,557 10.00 8.04 1,660,000.00 4.60 950,162.20 148 Prime Bank 1st Icb Amcl M Fund 66,000 10.00 9.25 610,800.00 4.90 323,400.00 149 Prime Finance First Mutual Fun 1,000 10.00 10.90 10,900.00 8.40 8,400.00 150 Trust Bank 1st Mutual Fund 248,706 10.00 9.58 2,382,166.40 5.10 1,268,400.60 151 Aramit Limited 4,100 10.00 35.43 145,263.35 407.90 1,672,390.00 152 Bangladesh Shipping Corp.(Bsc) 28,148 100.00 356.63 10,038,283.60 335.40 9,440,839.20 153 Beximco Limited(Share) 177,151 10.00 67.52 11,960,867.18 24.00 4,251,624.00 154 Khan Brothers Pp Woven Bag Ind 35,000 10.00 23.90 836,500.00 27.60 966,000.00 155 Miracle Industries Ltd. 557 10.00 4.67 2,600.75 27.80 15,484.60 156 Olympic Accessories Ltd 2,140 10.00 9.35 20,000.00 26.30 56,282.00 157 Bangladesh Fin. & Inv. Co. Ltd 30,488 10.00 5.92 180,405.25 11.30 344,514.40 158 Bangladesh Inds. Finance Co. 46,768 10.00 8.68 406,149.42 7.70 360,113.60 159 Bay Leasing & Investment Ltd. 4,830 10.00 3.89 18,787.77 15.40 74,382.00 160 Delta Brac Housing Finance Cor 8,344 10.00 4.89 40,819.26 106.70 890,304.80 161 Fareast Finance & Investment 116,275 10.00 8.15 947,700.00 7.90 918,572.50 162 FAS Finance And Investment Ltd 89,418 10.00 10.53 941,162.04 8.70 777,936.60 163 First Finance Limited. 39,876 10.00 4.71 187,633.40 6.50 259,194.00 164 Gsp Finance Company (Bd) Ltd. 14,272 10.00 11.39 162,500.00 12.60 179,827.20 165 I P D C 15 10.00 23.94 359.11 24.40 366.00 166 I.D.L.C 10,911 10.00 51.53 562,216.50 58.70 640,475.70 167 Intl. Leasing & Fin. Services 11,421 10.00 -5.32 -60,743.21 7.70 87,941.70 168 Islamic Finance And Investment 3,035 10.00 4.57 13,880.00 12.60 38,241.00 169 Lankabangla Finance Ltd. 23,943 10.00 24.63 589,740.00 28.20 675,192.60 170 Peoples Leasing & Fin. Servic 103 10.00 6.89 709.64 8.70 896.10171 Phoenix Finance & Inv. Ltd 103,271 10.00 6.06 625,440.26 16.70 1,724,625.70 172 Premier Leasing International 100,186 10.00 8.23 824,857.77 8.40 841,562.40 173 United Finance Ltd. 62,920 10.00 2.94 185,230.41 17.50 1,101,100.00 174 Uttara Finance & Invest. Ltd 63,107 10.00 52.62 3,320,942.79 52.90 3,338,360.30 175 Aci Formulations Limited 1,300 10.00 76.63 99,621.40 155.00 201,500.00 176 Aci Limited 18,213 10.00 26.63 484,950.19 455.10 8,288,736.30 177 Active Fine Chemicals Limited 2,808 10.00 4.03 11,304.30 47.90 134,503.20 178 Beacon Pharmaceuticals Ltd. 84,425 10.00 9.52 804,048.00 17.30 1,460,552.50 179 Beximco Pharmaceuticals Ltd. 320,539 10.00 42.46 13,610,746.71 83.50 26,765,006.50 180 Beximco Synthetics(Share) 1,403 10.00 3.89 5,462.86 6.30 8,838.90 181 Global Heavy Chemicals Ltd. 4,000 10.00 20.00 80,000.00 39.00 156,000.00 182 Imam Button Industries Ltd. 4,950 10.00 5.73 28,376.79 9.60 47,520.00 183 Keya Cosmetics Limited 66,240 10.00 18.87 1,250,050.00 11.90 788,256.00184 Orion Infusions Ltd(Mala) 200 10.00 13.28 2,655.73 72.10 14,420.00 185 Orion Pharma Limited 111,600 10.00 57.08 6,370,242.16 36.80 4,106,880.00 186 Reckitt Benckiser (Bd) Ltd. 5,447 10.00 140.39 764,698.79 1,575.20 8,580,114.40187 Salvo Chemical Industry Ltd. 1,565 10.00 6.39 10,000.00 11.80 18,467.00 188 Square Pharmaceuticals Ltd. 65,443 10.00 47.91 3,135,534.58 265.70 17,388,205.10

30


189 Wata Chemicals Ltd. 55,903 10.00 12.10 676,416.44 131.80 7,368,015.40 190 Eastern Housing Limited(Share) 18,061 10.00 8.92 161,129.19 36.20 653,808.20 191 Samarita Hospital Ltd. 8,121 10.00 7.29 59,190.85 70.50 572,530.50 192 Summit Alliance Port Ltd. 1,397 10.00 9.56 13,352.93 41.60 58,115.20 193 Bata Shoes (Bd) Ltd. 500 10.00 98.48 49,240.00 1,205.40 602,700.00 194 Bangladesh Submarine Cable Co. 63,211 10.00 107.90 6,820,641.66 110.20 6,965,852.20 195 Grameenphone Ltd. 163,381 10.00 197.29 32,233,816.10 254.70 41,613,140.70196 Unique Hotel & Resorts Limited 84,225 10.00 61.32 5,164,634.40 46.70 3,933,307.50 197 United Airways (Bd) Limited 526,350 10.00 14.21 7,479,000.00 6.50 3,421,275.00 198 Aramit Cement Ltd. (Deb) 730 2,500.00 190.99 139,426.25 190.99 139,426.25 199 Bengal Fine Ceramics Ltd. 450 100.00 100.89 45,400.00 60.00 27,000.00 200 Meghna Shrimp Ltd. 3,320 100.00 82.89 275,185.00 115.75 384,290.00 201 Bangladesh Zipper Inds.Ltd 8,900 100.00 92.50 823,209.50 43.75 389,375.00 202 Chic Tex Limited 135,300 10.00 10.00 1,353,000.00 2.70 365,310.00 203 M.H.Garments Washing & Dying 10,000 100.00 100.00 1,000,000.00 34.75 347,500.00 204 Mita Textiles Ltd. 7,700 100.00 84.60 651,450.00 61.75 475,475.00 205 Bd Luggage Ind.(Share) 2,150 100.00 119.95 257,900.00 28.25 60,737.50 206 Maq Enterprises Ltd. 10,675 100.00 99.71 1,064,450.00 37.75 402,981.25 207 Maq Paper Industries Ltd. 11,920 100.00 142.07 1,693,495.00 42.75 509,580.00 208 Perfume Chemical(Manola) In Ld 8,000 100.00 80.45 643,637.50 70.00 560,000.00209 Excelsior Shoes Limited 25,000 100.00 84.65 2,116,225.00 69.25 1,731,250.00 210 Bd. Welding Electrodes (Deb) 92 2,500.00 600.00 55,200.00 600.00 55,200.00 211 Jago Corporation Limited 9,950 100.00 100.00 995,000.00 100.00 995,000.00 212 Icb Amcl Conv. First Unit Fund 27,302 10.00 4.03 110,000.00 4.03 110,000.00 213 Dhaka Vegetable Oil Inds.Ltd. 190 100.00 90.00 17,100.00 23.00 4,370.00 214 Meghna Vegetable Oil Ind.Ltd. 4,350 100.00 90.61 394,150.00 33.25 144,637.50 215 Mark Bd. Shilpa And Eng 10,895 100.00 200.00 2,179,000.00 17.00 185,215.00 216 Paragon Leather & Footwear Ltd 50,350 100.00 53.55 2,696,100.00 16.00 805,600.00 13,395,266 348,197,034.33 407,751,475.65

31


Eighth ICB Mutual Fund Statement of Dividend and Interest Receivable for FY 2015-2016

1 Anlima Yarn Dyeing Ltd. 67,050.00 2 Anlima Yarn Dyeing Ltd. 510.00 3 Apex Weaving & Finishing Mills Ltd. 212.50 4 Bangladesh Zipper Ind. Ltd. 6,900 100 3.0% 17,595.00 5 BD. Luggage 2,150 100 3.0% 5,482.50 6 BD. Zipper 6,900 100 5.0% 29,325.007 Chick Textiles Ltd. 135,300 10 3.0% 34,501.50 8 DeltaMillers Ltd. 10,660 100 10.0% 42,500.00 9 Eastern Cables Ltd. 10,000 100 10.0% 85,000.00 10 Eastern Cables Ltd. 100 100 10.0% 1,000.00 11 Fahad Industries Ltd. 100,000 10 5.0% 50,000.00 12 M.H Garments Washing 10,000 100 5.0% 42,500.00 13 Meghna Shrimp 3,320 100 12.0% 33,864.00 14 Singer BD. Ltd. 91,032 10 10.0% 10,500.00 15 Beximco Pharma Ltd. 91,032 10 10.0% 1,564.00 16 First Lease Int. Ltd. 1,226 100 10.0% 6,776.0017 Shinpukur Ceramics Ltd. 600 10 10.0% 100.00

Dividend Receivable for less than one year :

SL. No. Name of the Company No. of

Shares Held Par Value

(TK.)

Rate of Dividend Declared

(%)

Amount (TK.)

1 Provati Insurance Co. Ltd. 22,908 10 6.0% 13,744.802 Dhaka Insurance Co. Ltd. 14,712 10 12.5% 18,390.00 3 Mercentile Insurance Co. Ltd. 62,979 10 10.0% 62,979.00 4 BD. General Insurance Co. Ltd. 66,926 10 11.0% 73,618.60 5 Pragati Insurance Co. Ltd. 6,451 10 10.0% 6,451.00 6 Continental Insurance Co. Ltd. 35,884 10 5.0% 17,942.00 7 Asia Insurance Co. Ltd. 18,066 10 10.0% 18,066.00 8 Pioneer Insurance Co. Ltd. 104,975 10 15.0% 157,462.50 9 Agrani Insurance Co. Ltd. 38,910 10 5.0% 19,455.00 10 Eastland Insurance Co. Ltd. 69,972 10 10.0% 69,972.00 11 Lafarge Surma Cement Ltd. 176,550 10 5.0% 88,275.00 12 Reckit Benckiser (BD.) Ltd. 5,740 10 150.0% 86,100.00 13 Beximco Pharma. Ltd. 320,539 10 10.0% 320,539.00

32


Eighth ICB Mutual Fund Statement of Dividend Received During FY 2015-2016

Annexure-CSL. No. Name of Company No. of Shares

Held Par Value

(TK.)


Amount (TK.)

1 Eastern Insurance Co Ltd. 37,096 10 20.0% 74,192.00

2 Shasha Denims Ltd 4,370 10 10.0% 4,370.00

3 Prime Islami Life Insurance Ltd 24,842 10 15.0% 37,263.00

4 Asia Pacific General Insurance Ltd 15,980 10 10.0% 15,980.00

5 Fareast Islami Life Insurance Ltd 2,875 10 35.0% 10,062.50

6 ICB AMCL1st NRB Mutual Fund 50,000 10 32.0% 160,000.00

7 ICB AMCL2nd NRB Mutual Fund 127,000 10 10.0% 127,000.00

8 ICB AMCL2nd Mutual Fund 311,000 10 5.0% 155,500.00

9 ICB Employees Provident Mutual Fund 1 219,500 10 7.5% 164,625.00

10 Prime Bank 1st ICB AMCL Mutual Fund 66,000 10 7.0% 46,200.00

11 Phoenix Finance 1st Mutual Fund 37,000 10 5.0% 18,500.00

12 ICB AMCL 3rd NRB Mutual Fund 172,000 10 5.0% 86,000.00

13 IFIL Islamic Mutual Fund-1 594,000 10 10.0% 594,000.00

14 ICB AMCL Sonali Bank 1st Mutual Fund 520,500 10 10.0% 520,500.00

15 Green Delta Mutual Fund 153,000 10 4.5% 68,850.00

16 DBH 1st Mutual Fund 29,000 10 4.0% 11,600.00

17 Linde BD Ltd 16,050 10 200.0% 321,000.00

18 Reckitt Benckiser(BD) Ltd 5,800 10 500.0% 290,000.00

19 ICB AMCL Convertible First Unit Fund 27,302 10 5.0% 13,651.00

20 Meghna Cement Mills Ltd 2,000 10 15.0% 3,000.00

21 Global Heavy Chemical Ltd. 4,000 10 10.0% 4,000.00

22 Sonar Bangla Insurance Ltd. 51,067 10 6.0% 30,640.20

23 Uttara Finance and Investment Ltd 57,370 10 20.0% 114,740.00

24 Asia Insurance Co.Ltd 18,066 10 10.0% 18,066.00

25 Grameen Phone Ltd 163,381 10 80.0% 1,307,048.00

26 Lafarge Surma Cement Ltd 201,550 10 5.0% 100,775.00

27 Square Pharmaceuticals Ltd. 183,122 10 30.0% 549,366.00

28 Grameen M/F One-Scheme Two 12,650 10 10.0% 12,650.00

29 Apex Spinning & Knitting Mills Ltd. 1,600 10 20.0% 3,200.00

30 Saiham Cotton Mills Ltd. 10,000 10 5.0% 5,000.00

31 Eastern Housing Ltd. 24,820 10 15.0% 37,230.00

32 Delta Brac Housing Finance Corporation 13,639 10 30.0% 40,917.00

33 Bata Shoe Company Bangladesh Ltd. 500 10 215.0% 10,750.00

34 Aamra Technologies Ltd. 211,751 10 10.0% 211,751.00

35 Gemini Sea Food 890 10 15.0% 1,335.00

36 MI. Cement Factory Ltd. 15,000 10 25.0% 37,500.00

37 Olympic Accessories Ltd. 2,000 10 5.0% 1,000.00

38 Titas Gas Transmission & Distribution Co.Ltd. 272,970 10 15.0% 409,455.00

33


SL. No. Name of Company No. of Shares

Held Par Value

(TK.)


Amount (TK.)

39 Orion Infusion Ltd. 200 10 13.0% 260.00

40 Standard Ceramic Industries Ltd. 1,050 10 10.0% 1,050.00

41 Olympic Industries Ltd. 7,460 10 30.0% 22,380.00

42 Envoy Textiles Ltd. 9,442 10 17.0% 16,051.40

43 Anlima Yarn Dyeing Ltd. 10,500 10 10.0% 10,500.00

44 Malek Spinning Mills Ltd. 155,800 10 12.0% 186,960.00

45 Samorita Hospital Ltd. 22,801 10 20.0% 45,602.00

46 Aftab Automobiles Ltd. 14,062 10 16.0% 22,499.20

47 Monno Ceramic Ltd. 3,260 10 5.0% 1,630.00

48 BDCOM Online Ltd. 84 10 7.0% 58.80

49 Hamid Fabrics Ltd. 1,320 10 15.0% 1,980.00

50 Eastern Lubricants Blenders Ltd 2,850 10 30.0% 8,550.00

51 Dhaka Electric Supply Company Ltd 20,839 10 10.0% 20,839.00

52 Power grid Company of Bangladesh 116,675 10 15.0% 175,012.50

53 Eastern Cables Ltd 1,900 10 12.0% 2,280.00

54 Delta Spinners Ltd. 90,000 10 5.0% 45,000.00

55 Prime Finance 1st Mutual Fund 1,000 10 5.0% 500.00

56 Meghna Petroleum Ltd. 60,134 10 105.0% 631,407.00

57 Jamuna Oil Company Ltd 15,330 10 100.0% 153,300.00

58 Dutch Bangla Bank Ltd 4,920 10 40.0% 19,680.00

59 Green Delta Insurance Company Ltd 5,272 10 25.0% 13,180.00

60 One Bank Ltd 22,816 10 12.5% 28,520.00

61 Grameen Phone Ltd 163,381 10 60.0% 980,286.00

62 NCCBL Mutual Fund-1 45,751 10 6.5% 29,738.15

63 Bangladesh Steel Re-Rolling Mills Ltd. 400 10 5.0% 200.00

64 BSRM Steels Ltd 30,274 10 30.0% 90,822.00

65 IDLC Finance Ltd 10,911 10 25.0% 27,277.50

66 Lanka Bangla Finance Ltd 3,429 10 15.0% 5,143.50

67 Reliance Insurance Ltd. 17,063 10 15.0% 25,594.50

68 H.R Textiles Mills Ltd 2,421 10 10.0% 2,421.00

69 Prime Insurance Company Ltd 96,862 10 12.5% 121,077.50

70 Prime Bank Ltd. 115,336 10 15.0% 173,004.00

71 Al-Arafah Islami Bank Ltd 527 10 10.0% 527.00

72 Summit Purbanchal Power Company Ltd 131,070 10 25.0% 327,675.00

73 Summit Power Ltd 103,152 10 12.0% 123,782.40

74 First Security Islami Bank Ltd 225,495 10 10.0% 225,495.00

75 Pubali Bank Ltd 23,816 10 12.0% 28,579.20

76 Uttara Bank Limited 10,000 10 20.0% 20,000.00

77 Bank Asia Ltd 103,848 10 15.0% 155,772.00

78 Linde BD.Ltd 16,050 10 110.0% 176,550.00

79 United Finance Ltd 84,473 10 5.0% 42,236.50

34


SL. No. Name of Company No. of Shares

Held Par Value

(TK.)


Amount (TK.)

80 South-East Bank Ltd 109,160 10 15.0% 163,740.00

81 BATBC 225 10 550.0% 12,375.00

82 Heidelberg Cement Bd. Ltd 28,110 10 300.0% 843,300.00

83 RAK Ceramics Bd. Ltd 16,418 10 25.0% 41,045.00

84 Mercentile Bank Ltd 6,732 10 12.0% 8,078.40

85 Eastern Bank LTD 42,383 10 20.0% 84,766.00

86 United Insurance Company Ltd 23,248 10 6.0% 13,948.80

87 Social Islami Bank Ltd 25,042 10 15.0% 37,563.00

88 GSP Finance Company (BD) Ltd 14,272 10 15.5% 22,121.60

89 Takaful Islami Insurance Ltd 10,605 10 5.0% 5,302.50

90 Trust Bank Ltd 197,822 10 7.0% 138,475.40

91 Khulna Power Company ltd. 16,673 10 40.0% 66,692.00

92 Dhaka Bank Ltd 27,109 10 6.0% 16,265.40

93 Uttara Finance and Investment Ltd 63,107 10 30.0% 189,321.00

94 Phoenix Finance and Investment Ltd 129,271 10 20.0% 258,542.00

95 Islami Bank Bd Ltd. 120,450 10 20.0% 240,900.00

96 Islamic Finance & Investment Ltd. 3,035 10 13.0% 3,945.50

97 ACI Ltd. 18,213 10 115.0% 209,449.50

98 ACI Formulations Ltd. 1,300 10 35.0% 4,550.00

99 IBBL Mudaraba Perpetual Bond 7,185 1000 10.3% 742,929.00

100 MBL 1st Mutual Fund 85,500 10 10.0% 85,500.00

101 Rupali Insurance Company Ltd 116,309 10 10.0% 116,309.00

102 BRAC Bank Ltd 11,892 10 25.0% 29,730.00

103 Bata Shoe Company (BD) Ltd. 500 10 105.0% 5,250.00

104 Jamuna Bank Ltd 99,311 10 19.5% 193,656.45

105 Bay Leasing and Investment Ltd 4,830 10 15.0% 7,245.00

106 Aramit Ltd. 4,100 10 50.0% 20,500.00

107 GBB Power Ltd 75,118 10 10.0% 75,118.00

108 NCC Bank Ltd 93,342 10 12.8% 119,011.05

109 Phoenix Insurance Co. Ltd 27,332 10 18.0% 49,197.60

110 Shahjalal Islami Bank Ltd 36,864 10 13.0% 47,923.20

111 Fareast Finance and Investment Ltd 11,275 10 10.0% 11,275.00

Total 6,838,398 13,445,163.25

35



Statement of Profit on Sale of Securities During FY 2015-2016

Annexure-D

1 Delta Brac Housing Finance Corp. 5,295 4.89 107.32 25,903 568,270 542,3672 Phoenex Finance & Inv. Ltd 26,000 6.06 17.09 157,464 444,400 286,936

3 United Finance Ltd 30,000 3.4 17.43 102,012 522,800 420,788

4 BRAC Bank Ltd 20,500 12.9 45.86 264,475 940,050 675,575

5 Dutch Bangla Bank Ltd 5,350 11.28 103.78 60,360 555,215 494,855

6 IFIC Bank Ltd 100,000 22.54 22.6 2,253,790 2,260,000 6,210

7 Islami Bank Bangladesh Ltd. 253,116 13.27 30.32 3,358,024 7,674,726 4,316,702

8 Bengal Windsor Thermoplastics Ltd. 5,000 23.15 82.7 115,741 413,500 297,760

9 BSRM Ltd. 400 35 177 14,000 70,800 56,800

10 BSRM Steels Ltd. 12,500 72.6 100.14 907,459 1,251,750 344,292

11 Eastern Cables Ltd 2,800 31.95 139.71 89,448 391,190 301,74212 BATBC 225 121.69 2701.38 27,379 607,810 580,43113 Bangas Ltd. 1,349 2.33 164.13 3,147 221,409 218,262

14 Gemini Sea Food Ltd. 1,112 12.07 578.6 13,421 643,400 629,979

15 Olympic Industries Ltd. 12,900 43.58 296.29 562,168 3,822,100 3,259,932

16 Eastern Lubricants 2,850 107.54 1213.07 306,492 3,457,250 3,150,758

17 Jamuna Oil Co. Ltd. 10,000 108.57 209.9 1,085,674 2,099,000 1,013,326

18 Linde Bd Lid. ( BOC) 8,750 130.17 1415.99 1,138,981 12,389,920 11,250,940

19 Meghna Petrolium Ltd. 15,278 80.4 169.66 1,228,374 2,592,082 1,363,708

20 Anlima Yarn Dyeing Ltd 9,000 10.1 27.72 90,910 249,500 158,590

21 Square Textiles Ltd 3,778 47.4 76.5 179,089 289,017 109,928

22 Tamizuddin Textiles Ltd 28,600 4.23 20 121,004 572,000 450,99623 ACI Ltd. 6,600 26.63 507.71 175,736 3,350,900 3,175,16424 Beximco Pharmacuticals Ltd. 121,400 42.46 83.95 5,154,899 10,191,120 5,036,221

25 Central Pharmacuticals Ltd. 10,580 7.56 30.4 80,000 321,632 241,632

26 Ibne Sina Pharma Ltd. 12,474 18.35 119.86 228,934 1,495,138 1,266,204

27 Orion Infusions Ltd(Mala) 34,400 1328 55.27 456,692 1,901,140 1,444,44828 Reckitt Benckiser Bd Ltd. 353 140.39 1545.62 49,557 545,603 496,04629 Square Pharmacuticals Ltd. 145,569 49.72 253.55 7,237,842 36,909,640 29,671,79830 Eastern Housing Ltd (Share) 9,000 8.97 36.13 80,739 325,200 244,46131 Samarita Hospital Ltd 14,680 7.29 71.78 106,997 1,053,774 946,77732 Heidelberg Cement Ltd 8,500 276.12 528.98 2,346,986 4,496,290 2,149,30433 Lafarge Surma Cement Ltd 25,000 51.41 121.2 1,285,235 3,030,000 1,744,76534 Apex Tannery Ltd 5,000 18.44 163.4 92,222 817,000 724,77835 Rak Ceramics(Bd)Ltd 15,000 42.11 76.67 631,576 1,150,000 518,42436 Prime Islami Life Insurance Ltd 5,000 2.44 62.87 12,199 314,350 302,152

36


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Head Office BDBL Bhaban (Level 14-17) 8, Rajuk Avenue, Dhaka-1000 Post Box no. 2058 Cable-INVESTCORP

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Sylhet Branch Ananda Tower & Shopping Complex (2nd floor) Dhupadighir Uttarpar, Jail Road, Sylhet Phone : (0821) 714703, 2830458 E-mail : [email protected]

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‡dvb : (051) 66940, 66860


Bogra Branch Afsar Ali Complex (4th floor) Raja Bazar Road, Borogola, Bogra Phone : (051) 66940, 66860 E-mail : [email protected]

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†dvb : (02) 9343288, 8360815

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Local Office Kashphia Plaza (1st floor) 35/C, Nayapaltan, VIP Road, Dhaka-1000 Phone : (02) 9343288, 8360815 E-mail : [email protected]

37



Note:

BDBL Bhaban (14-17th Level)8, Rajuk Avenue, Dhaka-1000, Bangladesh.Tel: PABX 9563455, Fax: 88-2-9563313E-mail: [email protected], [email protected]: www.icb.gov.bd

eighth icb mutual fund · 2017-11-09 · third icb mutual fund 19 may 1985 100.00 07 march 2016...

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