prospectus - imperialcapital.org prospectus-ypl.pdf · imperial capital limited saiham sky view...
TRANSCRIPT
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“Investment in capital market involves certain degree of risks. The investors are required to read the prospectus and risk factors carefully, assess their own financial conditions and risk taking ability before making their investment decisions.”
PUBLIC ISSUE OF 20,000,000 (TWO CRORE)
OPENING AND CLOSING DATE OF SUBSCRIPTION:
OClosing d
IMPERIAL CAPITAL LIMITED
Saiham Sky View Tower (3rdFloor), 45 Bijoy Nagar, Dhaka-1000. Tel: +88-02-9361870 Fax: +88-02-9361870 (Ext.-102) E-mail: [email protected]: www.imperialcapital.org
ISSUE DATE OF THE PROSPECTUS:
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nvolves certain degree of risks. The investors are required to read the ully, assess their own financial conditions and risk taking ability before ”
PROSPECTUS
of
Yeakin Polymer Limited
ISSUE SIZE:
WO CRORE) ORDINARY SHARESOF TK.10.00 EACH AT PAR OF TK. 200,000,000.00 (TWENTY CRORE).
NING AND CLOSING DATE OF SUBSCRIPTION:
pening date of subscription: July 10, 2016 date of subscription (Cut-off date): July 20, 2016
MANAGERS TO THE ISSUE:
AL LIMITED FAS CAPITAL MANAGEMENT LIMITED
Zahed Plaza (5th Floor), 30 Gulshan Avenue North C/A, DhakaTel: +88-02-8834253-4 Fax: +88-02-8834456 E-mail: [email protected] Web:www.fcmlbd.com
E DATE OF THE PROSPECTUS: June 13, 2016
Page | 1
Ki~b|”
required to read the k taking ability before
AT PAR OF TOTALING
GEMENT LIMITED
ka-1212.
Preliminary Information and Declarations:
NAME & ADDRESSISSUER
YEAKIN POLYMER LIMITED (YPL)83, Siddheswari Circular Road, Manhattan To(6thFloor) Malibagh, Dhaka-1217.
ISSUE MANAGERS
IMPERIAL CAPITAL LIMITEDSaiham Sky View Tower (3rd Floor),45 Bijoy Nagar, Dhaka-1000
FAS CAPITAL MANAGEMENT LIMITEDZahed Plaza (5th Floor),30 Gulshan Avenue North C/A, Dhaka-1212.
UNDERWRITERS
BMSL INVESTMENT LIMITEDSadharan Bima Tower (7th Floor),37/A Dilkusha C/A, Dhaka-1000.
AIBL Capital Management LimitedPeoples Insurance Bhaban (7th Floor),36 Dilkusha C/A, Dhaka-1000.
GRAMEEN CAPITAL MANAGEMENT LIMITEDGrameen Bank Complex (10th Floor),Mirpur-2, Dhaka-1216
AUDITORArtisanChartered AccountantsBSEC Bhaban (Level-10), 102, Kazi Nazrul Islam AvKawran Bazar, Dhaka-1215
A person interested to get a prospectus may obtain from t
“If you have any query a
CONTACT PERSON TELEPHONE &
ower Md. AkhtaruzzamanCompany Secretary
Md. Salauddin Sikder FCMACEO & Managing Director
Md. Shahidul AlamChief Executive Officer (C.C.)
Md. Riyad MatinManaging Director
Md. Golam Sarwar BhuiyanChief Executive Officer
Tel:
Mohammed Ahsan UllahManaging Director
venueA F M Alamgir FCA
Chief Executive Partner
the issuer and the issue managers.
about this document, you may consult the issuer, issue manager and underw
Page | 2
FAX NUMBER, E-MAIL, WEB ADDRESS
Tel: +88-02-8314498Fax: +88-02-9359526
Email: [email protected]: www.yeakingroupbd.com
Tel: +88-02-9361870Fax: +88-02-9361870 (Ext.-102)
E-mail: [email protected]: www.imperialcapital.org
Tel: +88-02-8834253-4Fax: +88-02-8834456
E-mail:[email protected]:www.fcmlbd.com
Tel: +88-02-7169428Fax: +88-02-9570624
Email: [email protected]: www.bmslinvestment.com
+88-02-9560198, +88-02-9515071Fax: +88-02-7170391
E-mail: [email protected]: www.al-arafahbank.com
Tel: +88-02-9004923Fax: +88-02-8057618
Email: [email protected]: www.grameencapitalbd.org
Tel: +88-02-8189883Fax: +88-02-8180187
Email:[email protected]: www.artisan-ca.com
writer”
“CONSENT OF THE BANGLADESH SECURITIES AND EXCHANGE COMMISSION HAS BEEN OBTAINED TO THE ISSUE/OFFER OF THESE SECURITIES UNDER THE SECURITIES AND EXCHANGE ORDINANCE, 1969, AND THE BANGLADESH SECURITIES AND EXCHANGE COMMISSION (PUBLIC ISSUE) BE DISTINCTLY UNDERSTOOD THAT IN GIVING THIS CONSENT THE COMMISSION DOES NOT TAKE ANY RESPONSIBILITY FOR THE FINANCIAL SOUNDNESS OF THE ISSUER COMPANY, ANY OF ITS PROJECTS OR THE ISSUE PRICE OF ITS SECURITIES OR FOR THE CORRECTNESS OF OPINION EXPRESSED WITH REGARD TO THEM. SUCH RESPONSIBILITY LIES WITH THE ISSUER, ITS DIRECTORS, CHIEF EXECUTIVE OFSECRETARY, ISSUE MANAGER, AUDITOR(S), VALUER AND/OR CREDIT RATING COMPANY
"This being the first issue of the issuer, there has been no formal market for the securities of the issuer. The face value of the securities is tk. 10.00 (ten) and the price has been determined and justified by the issuer and the issue managers as stated under the paragraph on “justification of issue price” should not be taken to be indicative of the market priclisting. No assurance can be given regarding an active or sustained trading of the securities or the price after listing."
"Investment in securities involves a degree of risk and investors should not invest any funds in this offeunless they can afford to take the risk of losing their investment. Investors are advised to read the risk factors carefully before taking an investment decision in this offer. For taking an investment decision, investors must rely on their own examination of the issuer and the offer including the risks involved. The securities have not been recommended by the Bangladesh Securities and Exchange Commission (BSEC) nor does BSEC guarantee the accuracy or adequacy of this document. Specific attention of invesfactors’ given on page number(s) 1
"The issuer, having made all reasonable inquiries, accepts responsibility for and confirms that this prospectus contains all material information with regard to the issuerprospectus are true, fair and correct in all material aspects and are not misleading in any respect, that the opinions and intentions expressed herein are honestly held and that there are no other factswhich make this document as a whole or any of such information or the expression of any such opinions or intentions misleading in any material respect."
H SECURITIES AND EXCHANGE COMMISSION HAS BEEN OBTAINED TO URITIES UNDER THE SECURITIES AND EXCHANGE ORDINANCE, 1969, ES AND EXCHANGE COMMISSION (PUBLIC ISSUE) R
HAT IN GIVING THIS CONSENT THE COMMISSION DOES NOT TAKE ANY CIAL SOUNDNESS OF THE ISSUER COMPANY, ANY OF ITS PROJECTS OR IES OR FOR THE CORRECTNESS OF ANY OF THE STATEMENTS MADE OR
GARD TO THEM. SUCH RESPONSIBILITY LIES WITH THE ISSUER, ITS FFICER, MANAGING DIRECTOR, CHIEF FINANCIAL OFFICER,
ISSUE MANAGER’S CHIEF EXECUTIVE OFFICER,UNDERWRITERS, REDIT RATING COMPANY." (IF ANY)
suer, there has been no formal market for the securities of the issuer. The 0.00 (ten) and the issue price is tk. 10.00, i.e. of the face value. The issue stified by the issuer and the issue managers as stated under the paragraph ould not be taken to be indicative of the market priceregarding an active or sustained trading of the securities or the price after
a degree of risk and investors should not invest any funds in this offerisk of losing their investment. Investors are advised to read the risk factors ent decision in this offer. For taking an investment decision, investors must he issuer and the offer including the risks involved. The securities have not desh Securities and Exchange Commission (BSEC) nor does BSEC guarantee document. Specific attention of investors is invited to the statement of ‘risk 04-110"
nable inquiries, accepts responsibility for and confirms that this prospectus with regard to the issuer and the issue, that the information contained in the ect in all material aspects and are not misleading in any respect, that the herein are honestly held and that there are no other factshole or any of such information or the expression of any such opinions or ial respect."
Page | 3
S BEEN OBTAINED TO E ORDINANCE, 1969, RULES, 2015. IT MUST DOES NOT TAKE ANY
Y OF ITS PROJECTS OR TATEMENTS MADE OR ITH THE ISSUER, ITS
L OFFICER, COMPANY FICER,UNDERWRITERS,
rities of the issuer. The e face value. The issue d under the paragraph e of the securities after rities or the price after
any funds in this offerto read the risk factors ecision, investors must The securities have not
or does BSEC guarantee o the statement of ‘risk
ms that this prospectus mation contained in the n any respect, that the r facts, the omission of f any such opinions or
AVAILABILITY OF PROSPECTUS
The Prospectus and abridged version prospectus in hard a
NAME & ADDRESSISSUER
YEAKIN POLYMER LIMITED (YPL)83, Siddheswari Circular Road, Manhattan To(6thFloor)Malibagh, Dhaka-1217.
ISSUE MANAGERS
IMPERIAL CAPITAL LIMITEDSaiham Sky View Tower (3rd Floor),45 Bijoy Nagar, Dhaka-1000.
FAS CAPITAL MANAGEMENT LIMITEDZahed Plaza (5th Floor),30 Gulshan Avenue North C/A, Dhaka-1212.
STOCK EXCHANGES
DHAHA STOCK EXCHANGE LIMITEDDSE LIBREY,9/F Motijheel C/A, Dhaka-1000
CHITTAGONG STOCK EXCHANGE LIMITEDCSE LIBREY,CSE Building, 1080, Sheikh Mujib Road AgraChittagong- 4100.
Prospectus would also be available on the web sites of BSEfor reading and studying.
Names and dates of the newspapers where abridged versiSl. No.
1234
and soft forms of the Company shall be obtained from the following addres
CONTACT PERSON TELEPHONE &
ower Md. AkhtaruzzamanCompany Secretary
Md. Salauddin Sikder FCMACEO & Managing Director
Md. Shahidul AlamChief Executive Officer (C.C.)
Afzalur RahamanManager
Fax:
abad,Mohammed Jabed Sarwar
Assistant Manager
EC (www.secbd.org) at the Public Reference Room of the Bangladesh Secur
ion of prospectus was published:Newspaper Name
THE FINANCIAL EXPRESSNEWAGE
BONIK BARTASHARE BIZ KORTCHA
Page | 4
sses:
& FAX NUMBER, E-MAIL, WEB ADDRESS
Tel: +88-02-8314498Fax: +88-02-9359526
Email: [email protected]: www.yeakingroupbd.com
Tel: +88-02-9361870Fax: +88-02-9361870 (Ext.-102)
E-mail: [email protected]: www.imperialcapital.org
Tel: +88-02-8834253-4Fax: +88-02-8834456
E-mail:[email protected]:www.fcmlbd.com
Tel: +88-02-9564601, 9576210-18+88-02-9564727, +88-02-9569755
E-mail: [email protected]:www.dsebd.org
Tel: 031-714632-3Fax: 031-714101
E-mail: [email protected]: www.cse.com.bd
rities and Exchange Commission (BSEC)
Date12.06.201612.06.201612.06.201612.06.2016
D
AAGM Annual General MeetingAllotment Allotment of shares
BBAS Bangladesh Accounting Standards
BDT Bangladeshi Taka
BO A/C Beneficiary Owner's AccountBOI Board of Investment
BPGMEA Bangladesh Plastic Goods Exporters Association
BB Bangladesh Bank
BSEC Bangladesh Securities and Exchange Commission
CCommission Bangladesh Securities and
Commission
CDBL Central Depository Bangladesh Limited
CFO Chief Financial OfficerCIB Credit Information Bureau
CSE Chittagong Stock Exchange
Certificate Share Certificate
DDSE Dhaka Stock Exchange Limited
EEPB Export Promotion Bureau
EU European Union
ETP Effluent Treatment PlantExchanges Stock Exchanges
FFCML FAS Capital Management Limited
FC A/C Foreign Currency Account
FDR Fixed Deposit Receipt
FOB Free on BoardFY Fiscal Year
FIBC Flexible Intermediate Bulk Container
GGBP Great Britain Pound
GOB Government of Bangladesh
Definitions and Acronyms/Elaborations
Ieeting IBBL Islami Bank Bangladesh Ltd.
ICL Imperial Capital LimitedIPO Initial Public OfferingIssue Managers Imperial Capital Limited
Capital Management Limitednting Standards Issuer Yeakin Polymer Limited
Ls Account L/C Letter of Credit
nt L.S. Lump-Sumoods Manufacturers &
Nies and Exchange NAV Net Asset Value
NBR National Board of Revenue
NRB Non Resident Bangladeshi
ies and Exchange NBFI Non-Banking Financial Institution
Bangladesh Limited Oicer Offering Price Price of the Securities of YPLBureau
xchange Limited PPE Price to EarningsPP Polypropylene
nge Limited RRegistered Office Registered Office of YPL
RJSC Registrar of Joint Stock Companies and Firms
Bureau
SPlant Sponsors The sponsor shareholders of YPL
STD A/C Short Term Deposit Account
ement Limited TAccount TPMC Thermo Plastic Molding Compound
pt UUSD United States Dollar
te Bulk Container VVAT Value Added Tax
d Yngladesh YPL Yeakin Polymer Limited
Page | 5
k Bangladesh Ltd.apital Limitedic Offeringapital Limited & FAS nagement Limitedymer Limited
reditm
Value
oard of Revenue
ent Bangladeshi
ng Financial Institution
e Securities of YPL
rningsene
Office of YPL
f Joint Stock Companies
or shareholders of YPLm Deposit Account
astic Molding Compound
es Dollar
ed Tax
ymer Limited
CHAPTER (I): EXECUTIVE SUMMARY
(a) About the industry: ................................
(b) About the Issuer: ................................
(c) Financial Information:
(d) Features of the issue and its objects:
(e) Legal and other Information:
(f) Promoters’ background:
(g) Capital structure and history of capital raising:
(h) Summary of Valuation Report of securities:
CHAPTER (II): CONDITIONS IMPOSED BY THE COMMISSION IN THE CONSENT LETTER
CHAPTER (III): DECLARATION AND DUE DILIGENCE CERTIFICATES
CHAPTER (IV): ABOUT THE ISSUER
CHAPTER (V): CORPORATE DIRECTORY OF THE ISSUER
CHAPTER (VI): DESCRIPTION OF THE ISSUER
(a) Summary: ................................
(b) General Information: .
(c) Capital Structure: ................................
(d) Description of Business:
(e) Description of Property:
(f) Plan of Operation and Discussion of Financial Condition:
CHAPTER (VII): MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULT OF OPERATIONS ................................
CHAPTER (VIII): DIRECTORS AND OFFICERS
CHAPTER (IX): CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
CHAPTER (X): EXECUTIVE COMPENSATION
CHAPTER (XI): OPTIONS GRANTED TO DIRECTORS, OFFICERS AND EMPLOYEES
CHAPTER (XII): TRANSACTION WITH THE DIRECTORS AND SUBSCRIBERS TO THE MEMORANDUM ................................
CHAPTER (XIII): OWNERSHIP OF THE COMPANY’S SECURITIES
CHAPTER (XIV): CORPORATE G
CHAPTER (XV): VALUATION REPORT OF SECURITIES PREPARED BY THE ISSUE MANAGERS
CHAPTER (XVI): DEBT SECURITIES
CHAPTER (XVII): PARTIES INVOLVED AND THEIR RESPONSIBILITIES
CHAPTER (XVIII): MATERIAL CONTRACTS
CHAPTER (XIX): OUTSTANDING LITIGATIONS, FINE OR PENALTY
CHAPTER (XX): RISK FACTORS AND MANAGEMENT’S PERCEPTIONS ABOUT THE RISKS
Table of Contents
MARY ................................................................................................
............................................................................................
........................................................................................
: ................................................................................................
nd its objects: ................................................................
mation: ................................................................................................
nd:................................................................................................
history of capital raising:................................................................
n Report of securities: ................................................................
MPOSED BY THE COMMISSION IN THE CONSENT LETTER
AND DUE DILIGENCE CERTIFICATES................................
UER................................................................................................
RECTORY OF THE ISSUER ................................................................
OF THE ISSUER................................................................
.............................................................................................................
................................................................................................
..........................................................................................
ss:................................................................................................
ty:................................................................................................
d Discussion of Financial Condition:................................
T’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND ......................................................................................
ND OFFICERS ................................................................
IONSHIPS AND RELATED TRANSACTIONS ................................
MPENSATION................................................................
TED TO DIRECTORS, OFFICERS AND EMPLOYEES
ON WITH THE DIRECTORS AND SUBSCRIBERS TO THE ........................................................................................................
OF THE COMPANY’S SECURITIES ................................
GOVERNANCE ................................................................
EPORT OF SECURITIES PREPARED BY THE ISSUE MANAGERS
IES ................................................................................................
OLVED AND THEIR RESPONSIBILITIES................................
ONTRACTS................................................................
G LITIGATIONS, FINE OR PENALTY................................
AND MANAGEMENT’S PERCEPTIONS ABOUT THE RISKS
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................................ 8
....................................... 8
....................................... 8
....................................... 8
....................................... 9
....................................... 9
.................................... 10
.................................... 11
.................................... 11
NT LETTER.............. 12
.............................. 18
.............................. 25
.............................. 27
.............................. 28
.................................... 28
.................................... 28
.................................... 32
.................................... 40
.................................... 48
.................................... 59
AL CONDITION AND .............................. 72
.............................. 76
.............................. 82
.............................. 84
ES........................... 85
SCRIBERS TO THE .............................. 85
.............................. 86
.............................. 95
MANAGERS ....... 100
............................ 101
............................ 102
............................ 102
............................ 103
THE RISKS............ 104
CHAPTER (XXI): DESCRIPTION OF THE ISSUE
CHAPTER (XXII): USE OF PROCEEDS
CHAPTER (XXIII): LOCK-IN ................................
CHAPTER (XXIV): MARKETS FOR THE SECURITIES BEING OFFERED
SECTION (XXV): DESCRIPTION OF SECURITIES OUTSTANDING OR BEING OFFERED
CHAPTER (XXVI): FINANCIAL S
CHAPTER (XXVII): PUBLIC ISSUE APPLICATION PROCEDURE
CHAPTER (XXVIII): OTHERS ................................
OF THE ISSUE................................................................
CEEDS................................................................................................
...........................................................................................
R THE SECURITIES BEING OFFERED................................
OF SECURITIES OUTSTANDING OR BEING OFFERED
STATEMENTS ................................................................
UE APPLICATION PROCEDURE................................
............................................................................................
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............................ 111
............................ 116
............................ 130
............................ 132
ERED ................... 133
............................ 134
............................ 173
............................ 177
CHAPTER (I): EXECUTIVE SUMMARY
(a) About the industry:
According to annual report (2014Association (BPGMEA), Bangladesh has around 5000 small, medium and large size plastic goods manufacturing units with around 1 million workforces directly or indirectly employed in this sector. In Bangladesh a number of industries are now engaged in manufacturing PP Woven fabric for manufacturing PP Woven bag, FIBC bag, recyclable & reusable shopping bag, tarpaulin ouse for bagging of cement, poultry & aqua feed, food grain, seed, bulk carrier (i.e. spdetergent, tea, confectionery, others), riverbank embankment bag, fashionable shopping bag, etc. all over the world. The woven-bag indlabor in the world.
At present, Bangladesh annually earn foreign exchange revenue of nearly US$ 100country, as per the BPGMEA data.The overall investment inhas approx. Tk. 70 billion. Currently, the sector is growing at 20 percent
(b) About the Issuer:
Yeakin Polymer Limited is a (former Yeakin Business Limited) was Limited Company. It May be noted here that the company was converted into a Private Limited Company on 10thNovember, 2003 and again it was reThe Name of the Company was changed on 15Polymer Limited
The principal activities of the company are to carry on the business of manufacturing and marketing (local & export) of PP woven regular bags [laminated & unattach bag, Jumbo/FIBC bag and HDPE/LDPE liner in differentused for bagging, food grain, onion, potato, pulse, dates, powderand other customer items.
The registered office of the coManhattan Tower (6th Floor) Malibagh, DhakaSatkhira, Khulna in the southwest region of Bangladeshat House#291, Road: Sonadanga, R/A (2
We have been using state of the art plantChina, Taiwan throughout the whole process.
The bags and sacks as well as our woven fabric are very strong, durable, attractive, and are offered with the most competitive price. We are already specification of the products for size, capacity, mesh, gusset, denier, c
Our company also obtained certificate ISO 14001:2004 and ISO 9001:2008 from Bureau of AssessmenServices.
(c) Financial Information:
Major financial information of
Sl. No. Particulars1 Sales Revenue2 Gross Profit3 Net profit before tax4 Net Profit after tax5 Total Assets6 Share Capital7 Retained Earnings8 No. of Shares9 Face Value
10 NAV Per Share11 Earnings per Share (EPS)
MARY
(2014-15) of Bangladesh Plastic Goods Manufacturers & Exporteladesh has around 5000 small, medium and large size plastic goods und 1 million workforces directly or indirectly employed in this sector. In ndustries are now engaged in manufacturing PP Woven fabric for , FIBC bag, recyclable & reusable shopping bag, tarpaulin oultry & aqua feed, food grain, seed, bulk carrier (i.e. spothers), riverbank embankment bag, fashionable shopping bag, etc. all over ustry is flourishing fast as Bangladesh is one of the prime sources of cheap
ally earn foreign exchange revenue of nearly US$ 100ata.The overall investment in Bangladesh’s WPP bags manufacturrently, the sector is growing at 20 percent per year.
Polypropylene (PP) Woven bagging industry. Yeakin Polymer Limited ited) was incorporated in Bangladesh on 8thFebruary, 2001 as a Public oted here that the company was converted into a Private Limited Company gain it was re-converted into a Public Limited Company on 15s changed on 15thDecember, 2010 from Yeakin Business Limited
company are to carry on the business of manufacturing and marketing n regular bags [laminated & un-laminated], BOPP film/Sack and HDPE/LDPE liner in different size, color, denier, mash. onion, potato, pulse, dates, powder milk, flex, fruits, poultry and fish feeds
ompany is located in a rented premises at 83, SiddhMalibagh, Dhaka-1217. Our manufacturing unit is situated at
west region of Bangladesh and our local office located ga, R/A (2nd Phase), Khulna-9000.
the art plants and machinery from companies of India (Lohia Starliwhole process.
our woven fabric are very strong, durable, attractive, and are offered with We are already being named with a reputation of meeting up the customer or size, capacity, mesh, gusset, denier, color, printing, auto
ertificate ISO 14001:2004 and ISO 9001:2008 from Bureau of Assessmen
f Yeakin Polymer Limited (YPL) is as follows.
30-Jun-15 30-Jun-14 30-Jun-13 30-J419,920,083 316,742,010 223,921,340 151,270,156112,987,168 83,648,876 60,164,592 34,594,481
84,729,263 60,085,193 41,256,916 18,391,28555,074,021 36,953,428 25,785,572 11,494,553
740,488,306 505,104,150 394,346,304 238,060,614390,000,000 240,000,000 169,590,000 96,100,000147,403,482 97,759,461 65,575,283 48,763,250
39,000,000 24,000,000 16,959,000 9,610,00010.00 10.00 10.0014.61 15.43 15.78
1.98 1.64 1.96
Page | 8
facturers & Exporters rge size plastic goods loyed in this sector. In
PP Woven fabric for paulin other bag which
spinning cone carrier, pping bag, etc. all over prime sources of cheap
100.00 million for the s manufacturing sector
eakin Polymer Limited ary, 2001 as a Public ivate Limited Company any on 15thMay, 2012. iness Limited to Yeakin
cturing and marketing film/Sack Kraft paper
er, mash. The bags are poultry and fish feeds
heswari Circular Road, is situated at Labsha,
ed in a rented premises
ndia (Lohia Starlinger),
e, and are offered with eeting up the customer , auto-filling.
m Bureau of Assessment
Jun-12 30-Jun-11270,156 148,427,415594,481 29,614,807391,285 17,023,225494,553 10,639,516060,614 182,549,066100,000 60,000,000763,250 46,878,697610,000 6,000,000
10.00 10.0017.59 21.84
1.20 1.77
(d) Features of the issue and its objects
The principal activities of the company are to carry on the business of manufacturing and marketing (local & export) of PP woven regular bags [laminated & unattach bag, Jumbo/FIBC bag and HDPE/LDPE liner in different
The Company intends to issue 2public offering (IPO) totaling to Tk. Initial Public Offering (IPO) wIPO Expenses.
(e) Legal and other Information:
SLName of
Certificate/license/Registration/ NOC
L
1 Incorporation
2Certificate of Commencement of Business
3 Trade License Dhaka South City Corporation
4 TIN Certificate National Board of Revenue
5 VAT Reg. No. Customs, Excise & VAT Commissionerate, Khulna
6 Export Registration Certificate (ERC) Controller of Import &
Export, Government of Bangladesh 7 Import Registration
Certificate (IRC)
8 BPGMEA Bangladesh Plastic Goods Manufacturers & Exporters Association
9 Fire License Bangladesh Fire Services and Civil Defense
10 BOI License Board of Investment Bangladesh
11 Environment Clearance Certificate
Department of Environment
12 Trade License from local authority
Labsha Union Parishad, Satkhira
13 Factory License Department of Factory
14 ISO 14001: 2004 Bureau of Assessment Services
15 ISO 9001: 2008 Bureau of Assessment Services
bjects:
e company are to carry on the business of manufacturing and marketing n regular bags [laminated & un-laminated], BOPP film/Sack and HDPE/LDPE liner in different size, color, denier, mash.
ue 20,000,000 ordinary shares of Tk. 10.00 each g to Tk. 200,000,000.00 subject to regulatory approvals. will be used for acquisition of Machinery, Construction
Yeakin Polymer Limited
License Issuer/Issuing Authority
Certificate / License No. E
RJSC
Public Limited Company dated
February 8, 2001 & C-
42423/(1782)/2001
RJSC July 15, 2003
haka South City rporation 0103849 3
tional Board of Revenue 844035540611stoms, Excise & VAT mmissionerate, Khulna 15071023377
ntroller of Import & port, Government of ngladesh
R 0094487 3
M 132366 3
ngladesh Plastic Goods anufacturers & porters Association
103 3
ngladesh Fire Services d Civil Defense Khulna/3462/04-05 3
ard of Investment ngladesh L-39010106247-H
partment of vironment 2186/2008 0
bsha Union Parishad, tkhira 26 3
partment of Factory 365/Khulna 3reau of Assessment rvices AE-BAS-E0001798 2
reau of Assessment rvices AE-BAS-Q0001797 2
Page | 9
cturing and marketing film/Sack Kraft paper mash.
at par through Initial provals. Proceeds from ion of Building and for
Expiry Date Remarks
N/A -
N/A -
30.06.2016 -
N/A -
N/A -
30.06.2016 -
30.06.2016 -
31.12.2016 -
30.06.2016 -
N/A -
08.06.2016 -
30.06.2016 -
30.06.2017 -
27.07.2016 -
27.07.2016 -
(f) Promoters’ background:
When the Company was incorporationmemorandum:
Sl. No.01 S.M. Akter Kabir02 Md. Rezaul Islam Chowdhury03 Sk. Jamil Hossain04 Quazi Anwarul Haque05 Mrs. Maliha Parvin06 Engg. Quazi Shafiqul Haque07 Quazi Emdadul Haque
Their background is stated below
S.M. Akter Kabir:
S.M Akter Kabir, S/o- Late Khalilur Rahman, Address: 23, R.K Mission Road, Wari, Motijheel, Dhaka, is a Bangladeshi national and was born on 08.07.1959. He completed M.Com (Accounting) degree from Dhaka University. He has been engaged in trading and manuftravelled India, Malaysia, Singapore,
Md. Rezaul Islam Chowdhury
Reajul Islam Chowdhury, S/O-01, 1stFloor, Malibagh. After Completion Master in Commerce degree in Marketing he joined in Miracle Industries Limited as Marketing Executive. In 2001 he resigned from service of Miracle Industries and involved with the Yeakin Polymer Limited as
Sk. Jamil Hossain:
Sk. Jamil Hossain, S/O- Sk. Abdul Majed of Address: Vill: Jhikra, P.O & P.S: Kalaroa, Satkhira. He completed Bachelor Arts degree from Satkhira. He served 7 years in German & Kuwait.
Quazi Anwarul Haque:
Quazi Anwarul Haque, S/O-QDhaka. He is a Bangladeshi National and was born on 25.01.1962. He completed his M.Com (Accounting) degree from Dhaka University and passed BPGMEA; Chairman of pp woven sack manufactures standing committee under BPGMEA, member National Jute act advisory committee, member FBCCI, Director HARDCO International School. From the inception he is the chairman of Yeakin Polymer Ltd. and under his leadership established other three organizations Satkhira Feed Industries Ltd. for production of fish, shrimp & poultry feed, Yeakin Agro Products Ltd. fish culture & boiler chicken rMr. Haque has visited several times to India, Singapore, Thailand, Hong Kong, Taiwan, China, Malaysia, South Korea, Japan, Europe and UAE
Mrs. Maliha Parvin
Ms. Maliha Parvin, W/O-Mohammadpur, Dhaka. Nationality: Bangladeshi. She is a B.A Degree holder and engaged with Business with her husband from 2001 from inception of Yeakin Polymer Ltd. She is one of the shareholders of thecompany. Engg.Quazi Shafiqul Haque
Engineer Shafiqul Haque S/OLimited Shamoly, Dhaka-1207. Shafiqul Haque got the Diploma in Mechanical Engineering degree from Khulna Ploy Technical Institute. After obtained the Diploma degree he went to BSc Engineering on mechanicalservice at California, USA. In 2001 he came to Bangladesh and involved withpromoters. In 2005 he transferred
Quazi Emdadul Haque
Quazi Emdadul Haque S/O-Bachelor in Commerce degree he started business on motor parts and involved with Yeakin polymer limited as the promoter.
incorporation time following persons were the subscribers to the
Name of
Chowdhury
Haquevinfiqul HaqueHaque
ow:
alilur Rahman, Address: 23, R.K Mission Road, Wari, Motijheel, Dhaka, is a s born on 08.07.1959. He completed M.Com (Accounting) degree from en engaged in trading and manufacturing business for a long time.apore, Thailand, UAE, and Vietnam in connection with his business.
- Ahmed Hossain Chodhury Address: 169/1, Malibagh Bazar Road, Completion Master in Commerce degree in Marketing he joined in Miracle ng Executive. In 2001 he resigned from service of Miracle Industries and mer Limited as a promoter. In 2005 he transferred his shares.
Abdul Majed of Address: Vill: Jhikra, P.O & P.S: Kalaroa, Satkhira. He ee from Satkhira. He served 7 years in German & Kuwait.
Quazi Rahmatul Haque, Addres: 3/A, 13/19, Sir Syed Road, Mohammadpur i National and was born on 25.01.1962. He completed his M.Com
haka University and passed C.A (Inter) from ICAB. Hwoven sack manufactures standing committee under BPGMEA, member mmittee, member FBCCI, Director HARDCO International School. From the
of Yeakin Polymer Ltd. and under his leadership established other three ndustries Ltd. for production of fish, shrimp & poultry feed, Yeakin Agro oiler chicken rearing house, RR Enterprise – an indenting & trading house. times to India, Singapore, Thailand, Hong Kong, Taiwan, China, Malaysia, d UAE in connection with the business.
Quazi Anwarul Haque, Address: Flat 3/A, 13/19 Sir Syed Road, nality: Bangladeshi. She is a B.A Degree holder and engaged with Business from inception of Yeakin Polymer Ltd. She is one of the shareholders of the
O- Quazi Rahmatul Haque Address: 54/Kh, PC Culture Housing Society 7. Shafiqul Haque got the Diploma in Mechanical Engineering degree from te. After obtained the Diploma degree he went to Singaporeal and fly USA under L-1 Category visa with confirmation of 2001 he came to Bangladesh and involved with Yeakin Polymer Limited as rredhis entire share.
Quazi Rahmatul Haque Vill- Labsha, P.O/P.S- Satkhira.e he started business on motor parts and involved with Yeakin polymer
Page | 10
e subscribers to the
, Motijheel, Dhaka, is a counting) degree from ss for a long time. He th his business.
gh Bazar Road, Plot no: ng he joined in Miracle Miracle Industries and s shares.
Kalaroa, Satkhira. He wait.
d Road, Mohammadpur completed his M.Com He is Vice President of der BPGMEA, member ional School. From the established other three ltry feed, Yeakin Agro nting & trading house. iwan, China, Malaysia,
3/19 Sir Syed Road, engaged with Business the shareholders of the
ulture Housing Society ngineering degree from ngapore and completed rmation of engineering kin Polymer Limited as
ira. After obtaining the with Yeakin polymer
Mentionable here that out of above 07 (Seven) proshareholders of the company. Rest 02 (Two) transferred their all of the shares.
(g) Capital structure and history of capital raising
The Company intends to issue 2public offering (IPO) totaling to Tk. 2
Particulars
Authorized Capital
Before IPO:Paid up capital
After IPO:To be issued as IPOPaid up capital (Post IPO)
The Company has raised its paid-up capital in
Particulars of Allotment
First (subscription to the Memorandum & Articles of Association at the time of incorporation)
2nd
3rd
4th
5th
6th
7th
8th
9th
10th
11th
12th
13th
14th
15th
16th
17th
18th
Total
(h) Summary of Valuation Report of securities
Method 1: Net Asset Value (NAV) per share/Equity based value per sharePrice based on Net Asset Value per shareMethod 2: Historical Earnings based value per shareEarnings based Value per share based on Overall MarketMethod 3: Average market price per share of similar stocks:
of above 07 (Seven) promoters presently 05 (Five) promoters are still Rest 02 (Two) Md. Rezaul Islam Chowdhury& Engg. Quazi Shafiqul Haque res.
of capital raising:
ue 20,000,000 ordinary shares of Tk. 10.00 each to Tk. 200,000,000.00 subject to regulatory approvals.
No of Shares Face Value (Tk.)
100,000,000 10.00
39,000,000 10.00
20,000,000 10.0059,000,000 10.00
p capital in following phases:
Date of Allotment Number of shares issued
Consideration in Cash
Consideration other than Cash
he of of 8.02.2001 100,000 -
10.07.2002 10,000 -30.08.2003 890,000 -20.11.2004 1,200,000 -31.10.2010 2,100,000 -29.04.2011 800,000 -29.04.2011 650,000 -29.04.2011 250,000 -06.03.2012 1,000,000 -14.03.2012 675,500 -10.04.2012 671,500 -30.04.2012 1,253,000 -12.05.2012 10,000 -02.01.2013 1,214,500 -06.01.2013 5,164,500 -09.01.2013 970,000 -18.09.2013 7,041,000 -30.03.2015 15,000,000 -
39,000,000
t of securities:Particulars
V) per share/Equity based value per shareper sharebased value per share
based on Overall Market P/Ece per share of similar stocks:
Page | 11
e) promoters are still Quazi Shafiqul Haque
at par through Initial als.
Amount in Taka
1,000,000,000
390,000,000
200,000,000590,000,000
d Amount in Taka n other
sh
1,000,000
100,0008,900,000
12,000,00021,000,000
8,000,0006,500,0002,500,000
10,000,0006,755,0006,715,000
12,530,000100,000
12,145,00051,645,000
9,700,00070,410,000
150,000,000390,000,000
Amount (in Tk.)
14.61
14.8918.80
CHAPTER (II): CONDITIONS IMPOSED BY THE COMMISSION IN THE CONSENT LETTER
DISCLOSURE IN RESPECT OF ISSUANCE OF SECURITY IN DEMAT FORM
As per provision of the Depository Act,dematerialized condition. All transfer/transmission/splitting will take place in the Central Depository Bangladesh Ltd. (CDBL) system and any further issuance of shares (rights/bonus) will be dematerialized form only. CONDITIONS UNDER 2CC OF THE SECURITIES AND EXCHANGE ORDINANCE, 1969
1. The Company shall go for Initial Public Offer (IPO) for par totaling to Tk.200,000,000.00 Ordinance, 1969, the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015, the Depository Act, 1999 and rules made thereunder.
2. The abridged version of the prospectus, as approvein 4 (Four) national daily newspapers (two in Bangla and two in English), within of issuance of this consent letter. The issuer shall post the full prospectus, vetted by the issuer’s website and shall also put on the websites of the Commission, stock exchanges, and the issue manager, within 3 (three) working daystill the closure of the subscription the issue manager a diskette containing the text of the vetted prospectus in “MS
3. The company shall submit 40 (Forty)record within 5 (Five) working daysprospectus in the newspaper.
4. The issuer company and the issue manager shall ensure transmission of the prospectus and its abridged version for NRBs through email to the Bangladesh Embassies and Missions abroad within working days from the date of publication of the abridged version of the prospectus in the newspaper. A compliance report shall be submitted in this respect to the CommissionManager within 02 (Two) working
5. The following declaration shall be made by the company in the prospectus, namely:
“Declaration about Listing of Shares with
None of the stock exchange(s), if for any reason, grants listing within closure of subscription, any allotment in terms of this prospectus shall be void and the company shall refund the subscription money within exchanges, or from the date of expiry
In case of non-refund of the subscription money within the aforesaid the company, in addition to the issuer company, shall be collectively and severally liable for refund of the subscription money, with interest at the rate of concerned.
The issue manager, in addition to the issuer company, shall ensure due compliance of the above mentioned conditions and shall submit compliance report thereon to the Commission within days of expiry of the aforesaid money.”
6. All applicants shall apply for a minimum lot of 500 shares worth Taka 5,000/or its multiples.
7. The IPO shall stand cancelled in case of under subscription in any category above 35%. In suthe issuer and issue manager shall inform the Commission within subscription money within 10 (ten) working days after receiving verification report from CDBL and the information from exchanges regarding sub
8. 20% of the securities reserved for other general public shall be reserved for of under-subscription under any of sub categories of eligible investors category or general public category, the unsubscribed porti
MPOSED BY THE COMMISSION IN THE CONSENT LETTER
ANCE OF SECURITY IN DEMAT FORM
ry Act, 1999 and regulation made there under, shares will be issued in nsfer/transmission/splitting will take place in the Central Depository and any further issuance of shares (rights/bonus) will be
E SECURITIES AND EXCHANGE ORDINANCE, 1969
PART–A
ial Public Offer (IPO) for 20,000,000 ordinary shares of Tk. 10.00 each at 000.00 (Taka Twenty Crore) following the Securities and Exchange desh Securities and Exchange Commission (Public Issue) Rules, 2015, the s made thereunder.
rospectus, as approved by the Commission, shall be published by the issuer spapers (two in Bangla and two in English), within 0ter. The issuer shall post the full prospectus, vetted by also put on the websites of the Commission, stock exchanges, and the issue rking days from the date of issuance of this letter and shall remain posted ion list. The issuer shall submit to the Commission, the stock exchanges and ontaining the text of the vetted prospectus in “MS -W
0 (Forty) copies of the printed prospectus to the Commissionking days from the date of publication of the abridged version of the
ssue manager shall ensure transmission of the prospectus and its abridged mail to the Bangladesh Embassies and Missions abroad within f publication of the abridged version of the prospectus in the newspaper. A bmitted in this respect to the Commission jointly by the issuer and the Issue rking days from the date of said transmission of the prospectus.
l be made by the company in the prospectus, namely:
n about Listing of Shares with the stock exchange (s):
), if for any reason, grants listing within 75 (Seventy Five) daysllotment in terms of this prospectus shall be void and the company shall y within 15 (Fifteen) days from the date of refusal for listing by the stock expiry of the said 75 (Seventy Five) days, as the case may be.
ubscription money within the aforesaid 15 (Fifteen) dayse issuer company, shall be collectively and severally liable for refund of the rest at the rate of 2% (two percent) above the bank rate, to the subscribers
ion to the issuer company, shall ensure due compliance of the above ll submit compliance report thereon to the Commission within id 15 (Fifteen) days time period allowed for refund of the subscription
minimum lot of 500 shares worth Taka 5,000/- (Taka five thousand only)
in case of under subscription in any category above 35%. In sushall inform the Commission within 2 (two) working days(ten) working days after receiving verification report from CDBL and the
egarding subscription.
for other general public shall be reserved for ¶wZMÖ ’ any of sub categories of eligible investors category or general public
rtion shall be added to other sub category of the same category. In case of
Page | 12
NT LETTER
hares will be issued in he Central Depository us) will be issued in
es of Tk. 10.00 each at urities and Exchange ssue) Rules, 2015, the
published by the issuer 02 (two) working daysby the Commission, in
xchanges, and the issue nd shall remain posted he stock exchanges and
Word” format.
ommission for official ridged version of the
pectus and its abridged broad within 5 (Five) us in the newspaper. A he issuer and the Issue rospectus.
: -
nty Five) days from the and the company shall for listing by the stock may be.
days, the Directors of liable for refund of the rate, to the subscribers
mpliance of the above sion within 07 (Seven) nd of the subscription
aka five thousand only)
35%. In such an event, ng days and release the ort from CDBL and the
’ ¶z ª wewb‡qvMKvix. In case ory or general public me category. In case of
over subscription in the general public category, the issuer and the issue manager shall jointly conduct an open lottery. In case of over subscription in the eligible investors categoon pro-rata basis. No eligible investor shall apply for more than 10 %( ten percent) of the total securities reserve for the other eligible investors.
9. An applicant cannot submit more than two applications, one in his/her owith another person. In case, an applicant submits more than two applications, all applications will be treated as invalid and will not be considered for allotment purpose. In addition, 15% (fifteen) of the application money will be forfeited by the Commission and the balance amount will be refunded to the applicant.
10. The applicants who have applied for more than two applications using same bank account, their application will not be considered for lottery and the Commission wimoney.
11. Making of any false statement in the application or supplying of incorrect information therein or suppressing any relevant information in the application shall make the application liable to rejection and subject to forfeiture of 25% of the application money and/or forfeiture of share (unit) before or after issuance of the same by the issuer. The said forfeited application money or share (unit) will be deposited in account of the Bangladesh Securities and Exchangother penalties as may be provided for by the law.
12. The company shall furnish the list of allotees to the Commission and the stock exchange(s) simultaneously in which the shares will be listed, within 24 (Tw
13. Shares not allotted at the time of according this consent, but allotted after listing, in favor of sponsors, directors or shareholders having 5% or more shares through stock dividends, shall be subject to a lockperiod of 02(two) years from the date of issuance of the prospectus.
14. If any share of Sponsors/Directors/Promoters is in paper format, it shall be handed over to securities custodian registered with the Commission and shall remain held till completion of lockname of the securities custodian shall be furnished to the Commission jointly by the issuer and issue manager, along with a confirmation thereof from the custodian, within one week of listing of the shares with the stock exchange(s). Or theyremain in lock-in under CDBL system and issuer shall submit a dematerialization confirmation report generated by CDBL and attested by Managing Director of the company along with the lockconfirmation to the Commission within one week of listing of the shares with the stock exchange(s). In respect of shares other than Sponsors/Directors/Promoters the issuer will ensure their lockshares and submit a statement to this effect to
15. The company shall not declare any dividend/bonus shares before listing of its capital with any Exchange from the date of this consent for raising of capital.
16. The company shall not engage itself into any merger/ amalgamation or acquisitiotaking “No Objection” from the Commission, on the scheme of the said merger/ amalgamation or acquisition, as recommended by the Board of Directors, before approval by the shareholders in General Meeting.
17. The company shall not produce
ral public category, the issuer and the issue manager shall jointly conduct er subscription in the eligible investors category, securities shall be allotted investor shall apply for more than 10 %( ten percent) of the total securities nvestors.
more than two applications, one in his/her own name and the other jointly an applicant submits more than two applications, all applications will be
ot be considered for allotment purpose. In addition, 15% (fifteen) of the feited by the Commission and the balance amount will be refunded to the
pplied for more than two applications using same bank account, their ered for lottery and the Commission will forfeit 15% of their subscription
nt in the application or supplying of incorrect information therein or rmation in the application shall make the application liable to rejection and of the application money and/or forfeiture of share (unit) before or after suer. The said forfeited application money or share (unit) will be deposited
Securities and Exchange Commission (BSEC). This is in addition to any ided for by the law.
the list of allotees to the Commission and the stock exchange(s) hares will be listed, within 24 (Twenty Four) hours of allotment.
e of according this consent, but allotted after listing, in favor of sponsors, ng 5% or more shares through stock dividends, shall be subject to a lockhe date of issuance of the prospectus.
ectors/Promoters is in paper format, it shall be handed over to securities Commission and shall remain held till completion of lockian shall be furnished to the Commission jointly by the issuer and issue
mation thereof from the custodian, within one week of listing of the shares r they (share of Sponsors/ Directors/ Promoters) can be demated and shall L system and issuer shall submit a dematerialization confirmation report ested by Managing Director of the company along with the lockon within one week of listing of the shares with the stock exchange(s). In ponsors/Directors/Promoters the issuer will ensure their lockto this effect to the Commission.
e any dividend/bonus shares before listing of its capital with any Exchange or raising of capital.
ge itself into any merger/ amalgamation or acquisitiothe Commission, on the scheme of the said merger/ amalgamation or by the Board of Directors, before approval by the shareholders in General
e any product prohibited by the Government.
Page | 13
er shall jointly conduct urities shall be allotted t) of the total securities
me and the other jointly all applications will be n, 15% (fifteen) of the will be refunded to the
e bank account, their % of their subscription
nformation therein or n liable to rejection and e (unit) before or after (unit) will be deposited s is in addition to any
he stock exchange(s) f allotment.
g, in favor of sponsors, be subject to a lock-in
nded over to securities lock-in period and the
by the issuer and issue of listing of the shares
n be demated and shall on confirmation report ong with the lock-in e stock exchange(s). In e their lock-in of those
ital with any Exchange
ition activities without ger/ amalgamation or hareholders in General
Application Process
Step-1 (Applicant) 1. An applicant for public issue of securities shall submit application/buy instruction to the Stockbroker/
Merchant Banker where the applicant maintains customer account, within the cutsubscription closing date), which shall be the publication of abridged version of prospectus.
2. The application/buy instruction may be submitted in prescribed paper or electronic form, which shall contain the Customer ID, Name, BO Account Number, Number of and Category of the Applicant. At the same time:a) Other than non-resident Bangladeshi (NRB) and Foreign applicants shall make the application money
and service charge available in respective customer account maintained wStockbroker/Merchant Banker. No margin facility, advance or deferred payment is permissible for this purpose. In case the application is made through a margin account, the application money shall be deposited separately and the Stockbroker/Merchantfrom the margin account, which shall be refundable to the applicant, if become unsuccessful.
b) Non-resident Bangladeshi (NRB) and Foreign applicants shall submit bank drafts (FDD), issued in favor of the Issuer for anconcerned Stockbroker/Merchant Banker. A Nonmay also submit a single draft against 02(two) applications made by him/her, i.e. one name and the other jointly with another person. The draft (FDD) shall be issued by the Bank where the applicant maintains NITA/Foreign Currency account debiting the same account. No banker shall issue more than two drafts from any NITA/Foreisame time, the applicant shall make the service charge available in respective customer account maintained with the Stockbroker/Merchant Banker.
Step-2 (Intermediary)
3. The Stockbroker/Merchant Banker shall “Public Issue Application Account”. The Stockbroker/Merchant Banker shall:
a) post the amount separately in the customer account (other than NRB and Foreign applicants), and upon availability of fund, block the amount equivalent to the application money;
b) accumulate all the application/buy instructions received up to the cutthe “Public Issue Application Account” maintained with its bank within the first bannext working day of the cutMerchant Banker’s own portfolio, the application amount should also be transferred to the “Public Issue Application Account”;
c) instruct the banker to block the account for an amount equivalent to the aggregate application money and to issue a certificate in this regard.
4. Banker of the Stockbroker/Merchant Banker shall block the account as requested for, issue a certificate confirming the same and handover it to the respective Stockbroker/Merchant Banker.
5. For Non-resident Bangladeshi (NRB) and Foreign applicants, the Stockbroker/Merchant Banker shall prepare a list containing the draft information against the respective applicant’s particulars.
6. The Stockbroker/Merchant Banker shall prepare category wise lists of the applicants containing Customer ID, Name, BO Account Number and Number of Securities applied for, and working days from the cut-off date, send to the respective Exc(text format with tilde ‘~’ separator) format, the certificate(s) issued by its banker, the drafts received from Nonresident Bangladeshi (NRB) and Foreign applicants and a copy of the list containing the draft information.
7. On the next working day, the Exchanges shall provide the Issuer with the information received from the Stockbroker/Merchant Bankers, the drafts submitted by Nonapplicants and the list containing the drafcertificates in their custody.
PART–B
of securities shall submit application/buy instruction to the Stockbroker/ applicant maintains customer account, within the cut
which shall be the 25th (twenty fifth) working dayn of prospectus.
on may be submitted in prescribed paper or electronic form, which shall me, BO Account Number, Number of Securities applied for, Total Amount
At the same time:Bangladeshi (NRB) and Foreign applicants shall make the application money available in respective customer account maintained wanker. No margin facility, advance or deferred payment is permissible for application is made through a margin account, the application money shall nd the Stockbroker/Merchant Banker shall keep the amount segregated which shall be refundable to the applicant, if become unsuccessful.
(NRB) and Foreign applicants shall submit bank drafts (FDD), issued in amount equivalent to the application money, with their application to the
Merchant Banker. A Non-resident Bangladeshi (NRB) and Foreign applicant draft against 02(two) applications made by him/her, i.e. one y with another person. The draft (FDD) shall be issued by the Bank where ITA/Foreign Currency account debiting the same account. No banker shall
fts from any NITA/Foreign Currency account for any public issue. At the shall make the service charge available in respective customer account
broker/Merchant Banker.
anker shall maintain a separate bank account only for this purpose namely unt”. The Stockbroker/Merchant Banker shall:
ly in the customer account (other than NRB and Foreign applicants), and block the amount equivalent to the application money;
tion/buy instructions received up to the cut-off date, deposit the amount in tion Account” maintained with its bank within the first bancut-off date. In case of application submitted by the Stock
portfolio, the application amount should also be transferred to the “Public ”;
ock the account for an amount equivalent to the aggregate application ficate in this regard.
erchant Banker shall block the account as requested for, issue a certificate dover it to the respective Stockbroker/Merchant Banker.
i (NRB) and Foreign applicants, the Stockbroker/Merchant Banker shall raft information against the respective applicant’s particulars.
Banker shall prepare category wise lists of the applicants containing unt Number and Number of Securities applied for, and f date, send to the respective Exchange, the lists of applicants in electronic parator) format, the certificate(s) issued by its banker, the drafts received i (NRB) and Foreign applicants and a copy of the list containing the draft
Exchanges shall provide the Issuer with the information received from the rs, the drafts submitted by Non-resident Bangladeshi (NRB) and Foreign ing the draft information. Exchanges shall verify and preserve the bankers’
Page | 14
on to the Stockbroker/ e cut-off date (i.e. the day from the date of
onic form, which shall lied for, Total Amount
the application money maintained with the ment is permissible for pplication money shall he amount segregated e unsuccessful.
drafts (FDD), issued in their application to the and Foreign applicant
i.e. one in his/her own ued by the Bank where count. No banker shall ny public issue. At the tive customer account
or this purpose namely
oreign applicants), and y;
, deposit the amount in first banking hour of
he Stock-dealer or the nsferred to the “Public
aggregate application
d for, issue a certificate ker.
Merchant Banker shall rticulars.
applicants containing and within 03 (three)
applicants in electronic ker, the drafts received st containing the draft
ation received from the shi (NRB) and Foreign d preserve the bankers’
8. The application/buy instructions shall be preserved by the Stockbroker/Merchant Bankers up to 6 months from listing of the securities with exchange.
Step-3 (Issuer)
9. The Issuer shall prepare consolidated list of the applications and send the applicants’ BOIDs in electronic (text) format in a CDROM to CDBL for verification. The Issuer shall post the consolidated list of applicants on its website and websites ofBO accounts of the applicants are active or not.
10. On the next working day, CDBL shall provide the Issuer with an updated database of the applicants containing BO Account Number, Name, Addresses,information along with the verification report.
11. After receiving verification report and information from CDBL, the Issuer shall scrutinize the applications, prepare category wise consolidated lists of valid of final status of subscription to the Commission and the Exchanges the date of receiving information from the Exchanges.
12. The Issuer and the issue manager shall conduct category03 (three) working days from the date of reporting to the Commission and the Exchanges, if do not receive any observation from the Commission or the Exchanges.
13. The Issuer and issue manager shall arrange posting the lottery result on their websites within hours and on the websites of the Commission and Exchanges within
14. Within 02 (two) working days
a) send category wise lists of the successful and unsuccessful applicants in electronic (text format with tilde ‘~’ separator) format to the respective Exchange.
b) send category wise lists of unsuccessful applicants who are subject to penal proconditions of the Consent Letter issued by the Commission in electronic (text format with tilde ‘~’ separator) format to the Commission and Exchanges mentioning the penalty amount against each applicant.
c) issue allotment letters in the namessignatures and send those to respective Exchange in electronic form.
d) send consolidated allotment data (BOID and number of securities) in electronic text format in a CDROM to CDBL to credit the al
Step-4 (Intermediary)
15. On the next working day, EStockbroker/Merchant Bankers concerned in electronic format and instruct them to:
a) remit the amount of successful (other than NRB and Foreign) applicants to the Issuer’s respective Escrow Account opened for subscription purpose, and unblock the amount of unsuccessful applicants;
b) send the penalty amount of other than NRB and Foreign appprovisions to the Issuer’s respective Escrow Accounts along with a list and unblock the balance application money;
16. On the next working day of receiving the documents from the Exchanges, the Stockbrokers/Merchant
Banker shall request its banker to:
a) release the amount blocked for unsuccessful (other than NRB and foreign) applicants;
b) remit the aggregate amount of successful applicants and the penalty amount of unsuccessful applicants (other than NRB and foreign) who are sub‘Escrow’ accounts of the Issuer opened for subscription purpose.
ions shall be preserved by the Stockbroker/Merchant Bankers up to 6 urities with exchange.
lidated list of the applications and send the applicants’ BOIDs in electronic to CDBL for verification. The Issuer shall post the consolidated list of websites of the Exchanges. CDBL shall verify the BOIDs as to whether the are active or not.
DBL shall provide the Issuer with an updated database of the applicants ber, Name, Addresses, Parents’ Name, Joint Account and Bank Account
rification report.
report and information from CDBL, the Issuer shall scrutinize the wise consolidated lists of valid and invalid applications and submit report
to the Commission and the Exchanges within 10 (ten) working dayson from the Exchanges.
ager shall conduct category wise lottery with the valid applications m the date of reporting to the Commission and the Exchanges, if do not he Commission or the Exchanges.
r shall arrange posting the lottery result on their websites within he Commission and Exchanges within 12 (twelve) hours
of conducting lottery, the Issuer shall:
f the successful and unsuccessful applicants in electronic (text format with to the respective Exchange.
of unsuccessful applicants who are subject to penal proLetter issued by the Commission in electronic (text format with tilde ‘~’
Commission and Exchanges mentioning the penalty amount against each
n the names of successful applicants in electronic format with digital to respective Exchange in electronic form.
ent data (BOID and number of securities) in electronic text format in a the allotted shares to the respective BO accounts.
Exchanges shall distribute the information and allotment letters to the rs concerned in electronic format and instruct them to:
cessful (other than NRB and Foreign) applicants to the Issuer’s respective for subscription purpose, and unblock the amount of unsuccessful
t of other than NRB and Foreign applicants who are subject to penal respective Escrow Accounts along with a list and unblock the balance
receiving the documents from the Exchanges, the Stockbrokers/Merchant r to:
d for unsuccessful (other than NRB and foreign) applicants;
ount of successful applicants and the penalty amount of unsuccessful NRB and foreign) who are subject to penal provisions to the respective ssuer opened for subscription purpose.
Page | 15
hant Bankers up to 6
nts’ BOIDs in electronic he consolidated list of OIDs as to whether the
base of the applicants unt and Bank Account
shall scrutinize the ions and submit report en) working days from
lid applications within e Exchanges, if do not
ebsites within 06 (six) ours of lottery.
ronic (text format with
enal provisions as per t format with tilde ‘~’
y amount against each
c format with digital
ronic text format in a
llotment letters to the o:
the Issuer’s respective mount of unsuccessful
o are subject to penal d unblock the balance
tockbrokers/Merchant
licants;
mount of unsuccessful ions to the respective
17. On the next working day of receiving request from the Stockbrokers/Merchant Bankers, their bankers shall unblock the amount blocked in the account‘Escrow’ account.
18. Simultaneously, the stockbrokers/Merchant Bankers shall release the application money blocked in the customer accounts; inform the successful applicants about allotment of securitapplicants about releasing their blocked amounts and send documents to the Exchange evidencing details of the remittances made to the respective ‘Escrow’ accounts of the Issuer. The unblocked amounts of unsuccessful applicants shall bbe entitled to recover the withdrawal charges, if any, from the applicant who wants to withdraw the application money, up to an amount of Tk. 5.00 (five) per withdrawal.
19. All drafts submitted by NRB or Foreign applicants shall be deposited in the Issuer’s respective ‘Escrow’ accounts and refund shall be made by the Issuer by refund warrants through concerned stockbroker or merchant banker or transfer to the applicant’s bank accounworking days from the date of lottery.
Miscellaneous:
20. The Issuer, Issue Manager(s), Stockbrokers and Merchant Bankers shall ensure compliance of the above.
21. The bank drafts (FDD) shall be issued considering TT Clean exchange rate of Sonali Bank Ltd. on the date of publication of abridged version of prospectus.
22. Amount deposited and blocked in the “Public Issue Application Account” shall not be withdrawn or transferred during the blocking period. Amount deposited by the applicants shall not be used by the Stockbrokers/Merchant Bankers for any purpose other than public issue application.
23. The Issuer shall pay the costs related to data transmission, if claimed byamount of Tk.2,00,000.00 (taka two lac) for a public issue.
24. The Stockbroker/Merchant Bankers shall be entitled to a service charge of Tk.5.00 (taka five) only per application irrespective of the amount or category. The serthe time of submitting application.
25. The Stockbroker/Merchant Banker shall provide the Issuer with a statement of the remittance and drafts sent.
26. The Issuer shall accumulate the penalty amount recovered and sdraft/payment order issued in favor of the Bangladesh Securities and Exchange Commission.
27. The concerned Exchange are authorized to settle any complaints and take necessary actions against any Stockbroker/Merchant Banker in case of violation of any provision of the public issue application process with intimation to the Commission.
1. The issue manager shall carefully examine and compare the published prospectus and its abridged version on the date of publication with the copies vetted by the Commission. If any discrepancy is found, both the issuer and the issue manager shall jointly publish a corrigendum immediately in the same newspapers concerned, simultaneously endorsing copies thereof to the Commisexchanges concerned. In this regard, the issue manager shall submit a compliance report to the Commission within 5 working days from the date of such publications.
2. The fund collected through Public Offering shall not be utilized prior tutilization of the said fund shall be effected through banking channel, i.e. through account payee cheque, pay order or bank drafts etc.
3. The company shall furnish status report on utilization of Public Offering proceedsaffiliated auditors and authenticated by the board of directors to the Commission and the exchanges within 15 (Fifteen) days of the closing of each month until such fund is fully utilized, as mentioned in the schedule contained in the pCommission may employ or engage any person, at issuer’s cost, to examine whether the issuer has utilized the proceeds for the purpose disclosed in the prospectus.
receiving request from the Stockbrokers/Merchant Bankers, their bankers ked in the account(s) and remit the amount as requested for to the Issuer’s
ers/Merchant Bankers shall release the application money blocked in the e successful applicants about allotment of securities and the unsuccessful ir blocked amounts and send documents to the Exchange evidencing details he respective ‘Escrow’ accounts of the Issuer. The unblocked amounts of be placed as per their instructions. The Stockbroker/Merchant Banker shall hdrawal charges, if any, from the applicant who wants to withdraw the
mount of Tk. 5.00 (five) per withdrawal.
or Foreign applicants shall be deposited in the Issuer’s respective ‘Escrow’ made by the Issuer by refund warrants through concerned stockbroker or to the applicant’s bank account through banking channel within 10 (ten) lottery.
Stockbrokers and Merchant Bankers shall ensure compliance of the above.
e issued considering TT Clean exchange rate of Sonali Bank Ltd. on the date sion of prospectus.
ed in the “Public Issue Application Account” shall not be withdrawn or ng period. Amount deposited by the applicants shall not be used by the
ers for any purpose other than public issue application.
related to data transmission, if claimed by the Exchange concerned up to an ka two lac) for a public issue.
ankers shall be entitled to a service charge of Tk.5.00 (taka five) only per amount or category. The service charge shall be paid by the applicant at
tion.
anker shall provide the Issuer with a statement of the remittance and drafts
e penalty amount recovered and send it to the Commission through a bank favor of the Bangladesh Securities and Exchange Commission.
authorized to settle any complaints and take necessary actions against any r in case of violation of any provision of the public issue application process sion.
PART–C
efully examine and compare the published prospectus and its abridged tion with the copies vetted by the Commission. If any discrepancy is found, e manager shall jointly publish a corrigendum immediately in the same ltaneously endorsing copies thereof to the Commiss regard, the issue manager shall submit a compliance report to the days from the date of such publications.
blic Offering shall not be utilized prior to listing with Exchange(s) and that ll be effected through banking channel, i.e. through account payee cheque,
atus report on utilization of Public Offering proceedsnticated by the board of directors to the Commission and the exchanges
closing of each month until such fund is fully utilized, as mentioned in the prospectus, and in the event of any irregularity or inconsistency, the engage any person, at issuer’s cost, to examine whether the issuer has
urpose disclosed in the prospectus.
Page | 16
Bankers, their bankers ested for to the Issuer’s
money blocked in the s and the unsuccessful ange evidencing details unblocked amounts of Merchant Banker shall
wants to withdraw the
er’s respective ‘Escrow’ ncerned stockbroker or hannel within 10 (ten)
mpliance of the above.
li Bank Ltd. on the date
not be withdrawn or all not be used by the n.
nge concerned up to an
00 (taka five) only per aid by the applicant at
e remittance and drafts
mission through a bank mmission.
ary actions against any sue application process
ectus and its abridged y discrepancy is found, mediately in the same
mission and the stock mpliance report to the
h Exchange(s) and that account payee cheque,
eds audited by foreign on and the exchanges ed, as mentioned in the or inconsistency, the
whether the issuer has
4. While auditing the utilization of IPO proceeds, the auditors will perform their jobs under the following terms of reference (TOR) and confirm the same in their report/certificate:
(a) Whether IPO proceeds have been utilized for the purposes/heads as specified in the prospectus;
(b) Whether IPO proceeds have been utilized in line with the condition (if any) of the Commission’s consent letter;
(c) Whether utilization of IPO proceeds have been completed within the time schedule/implementation schedule as specified in the publi
(d) Whether utilization of IPO proceeds is accurate and for the purpose of the company as mentioned/specified in the published prospectus; and
(e) The auditors should also confirm that:(i)assets have been procured/imported/constructed maintaining proper/required procedure as well as at reasonable price; and (ii) auditors’ report has been made on verification of all necessary documents/papers/vouchersmaking reconciliation with Bank Statement.
5. All transactions, excluding petty cash expenses, shall be effected through the company’s bank account(s).
6. Proceeds of the public offering shall not be transferred to any other bank aExchange(s) and used for any purpose other than those specified in the prospectus. Any deviation in this respect must have prior approval of the shareholders in the shareholders meeting under intimation to the Commission and the exchanges.
7. If any quarter or half-year of the financial year ends after publication of the abridged version of prospectus and before listing of its securities with any exchange, the company shall disseminate/transmit/submit the said quarterly/half yeaCommission’s Notification SEC/CMRRCD/200813 of the Securities and Exchange Rules, 1987.
8. In the event of arising issues concerning Price Sensitive InformatiG·‡PÄ Kwgkb (myweav‡fvMx e¨emv wbwl×KiY) wewagvjv 1995and before listing of its securities with any exchange, the company shall disseminate/transmit/submit the information as price sensitive in accordance with the Commission’s Notification No. SEC/SRMI/953/1950 dated October 24, 2000.
1. As per provision of the Depository Act, 1999 & regulations made there under, shares will only be issued in dematerialized condition. All transfer/transmission/splitting will take place in the depository sof Central Depository Bangladesh Ltd. (CDBL) system and any further issuance of shares (Including rights/bonus) will be made in dematerialized form only.
2. The issuer and the issue manager shall ensure due compliance of all the above conditions,‘Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015’ and the listing regulations of the exchanges.
3. The Commission may impose further conditions/restrictions etc. from time to time as and when
considered necessary which shall
of IPO proceeds, the auditors will perform their jobs under the following confirm the same in their report/certificate:
ve been utilized for the purposes/heads as specified in the prospectus;
ave been utilized in line with the condition (if any) of the Commission’s
O proceeds have been completed within the time schedule/implementation e published prospectus;
IPO proceeds is accurate and for the purpose of the company as e published prospectus; and
lso confirm that:(i)assets have been procured/imported/constructed ired procedure as well as at reasonable price; and (ii) auditors’ report has n of all necessary documents/papers/vouchers in support of IPO proceeds h Bank Statement.
ty cash expenses, shall be effected through the company’s bank account(s).
g shall not be transferred to any other bank account before listing with the purpose other than those specified in the prospectus. Any deviation in this val of the shareholders in the shareholders meeting under intimation to the s.
of the financial year ends after publication of the abridged version of ting of its securities with any exchange, the company shall the said quarterly/half yearly financial statements in accordance with the /CMRRCD/2008-183/admin/03-34 dated September 27, 2009 and Rules nge Rules, 1987.
concerning Price Sensitive Information as defined under the wl×KiY) wewagvjv 1995 after publication of the abridged version of prospectus ies with any exchange, the company shall disseminate/transmit/submit the
e in accordance with the Commission’s Notification No. SEC/SRMI/2000.
PART–D
itory Act, 1999 & regulations made there under, shares will only be issued All transfer/transmission/splitting will take place in the depository sadesh Ltd. (CDBL) system and any further issuance of shares (Including dematerialized form only.
anager shall ensure due compliance of all the above conditions,change Commission (Public Issue) Rules, 2015’ and the listing regulations
e further conditions/restrictions etc. from time to time as and when hall also be binding upon the issuer company.
Page | 17
bs under the following
n the prospectus;
y) of the Commission’s
hedule/implementation
of the company as
/imported/constructed ii) auditors’ report has
upport of IPO proceeds
any’s bank account(s).
before listing with the s. Any deviation in this under intimation to the
e abridged version of the company shall
n accordance with the ber 27, 2009 and Rules
under the wmwKDwiwUR I d version of prospectus te/transmit/submit the n No. SEC/SRMI/200-
ares will only be issued the depository system e of shares (Including
above conditions, the the listing regulations
to time as and when
CHAPTER (III): DECLARATION AND DUE DILIGENCE CERTIFICATES
DECLARATION ABOUT THE RESPONSIBILITY OF THE DIRECTORS, INCLUDING THE CEO OF THE ISSUER IN
This prospectus has been prepared, seen and approved by us, and we, individually and collectively, accept full responsibility for the authenticity, accuracy and adequacy of the statements made, information given in the prospectus, documents, financial statsupport thereof, and confirm, after making all reasonable inquiries that all conditions concerning this public issue and prospectus have been met and that there are no other information or dowhich make any information or statements therein misleading for which the Commission may take any civil, criminal or administrative actions against any or all of us as it may deem fit.
We also confirm that full and fair disclosuremake a well informed decision for investment.
Sd/- Quazi Anwarul Haque Chairman & Director Date: March 10, 2016
Sd/- Mrs. Julia Parvin Director Date: March 10, 2016
Sd/- Sk. Jamil Hossain Director Nominee of Yeakin Agro Products LimitedDate: March 10, 2016
Sd/- Siddiqur Rahman Independent Director Date: March 10, 2016
AND DUE DILIGENCE CERTIFICATES
ONSIBILITY OF THE DIRECTORS, INCLUDING THE CEO OF THE ISSUER IN RESPECT OF THE PROSPECTUS
[Rule: 4 (1)(d)]
, seen and approved by us, and we, individually and collectively, accept full accuracy and adequacy of the statements made, information given in the statements, exhibits, annexes, papers submitted to the Commission in
r making all reasonable inquiries that all conditions concerning this public et and that there are no other information or documents, the omission of atements therein misleading for which the Commission may take any civil, against any or all of us as it may deem fit.
r disclosures have been made in this prospectus to enable the investors to investment.
Sd/- S.M Akter Kabir
Managing Director & Director Date: March 10, 2016
Q
Limited
Dr. S.M Maniruzzaman
Nominee of Satkhira Feed Industries Limited
Khandaker Abdul Mabud
Page | 18
ANNEXURE: A
EO OF THE ISSUER IN
collectively, accept full formation given in the to the Commission in concerning this public ments, the omission of ion may take any civil,
enable the investors to
Sd/- Quazi Nazibul Haque
Director Date: March 10, 2016
Sd/- Mrs. Sabrina Samsad
Director Date: March 10, 2016
Sd/- . S.M Maniruzzaman
Director Feed Industries LimitedDate: March 10, 2016
Sd/- handaker Abdul Mabud
Independent Director Date: March 10, 2016
DUE DILIGENCE CERTIFICATE BY ISSUE MANAGER
To The Bangladesh Securities and Exchange Commission
Sub: Public Issue of 20,000,000 Ordinary Shares of Tk.
Dear Sir,
We, the issue manager to the above
(1) We have examined all the documents submitted with the application for the above mentioned public issue, visited the premises of the issuer and intervipersonnel of the issuer in connection with the finalization of the prospectus pertaining to the said issue;
(2) On the basis of such examination and the discussions with the directors, officers and auditors of the issuer, other agencies, independent verification of the statements concerning objects of the issue and the contents of the documents and other materials f
WE CONFIRM THAT: (a) The prospectus filed with the Commission is in conformity with the documents, materials and papers
relevant to the issue; (b) All the legal requirements relating to the issue as also in the rules, notification,
etc. framed/issued by the Commission, other competent authorities in this behalf and the Government have been duly complied with;
(c) The disclosures made in prospectus are true, fair and adequate to enable the investors to make a weinformed decision for investment in the proposed issue and such disclosures are in accordance with the requirements of the Companies Act, 1994, the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015 and other applicable laws;
(d) Besides ourselves, all the intermediaries named in the prospectus are registered with the Commission and that till date such registrations are valid;
(e) We have satisfied ourselves about the capability of the underwriters to fulfill their underwriting commitments;
(f) The proposed activities of the issuer for which the funds are being raised in the present issue fall within
the ‘main objects’ listed in the object clause of the Memorandum of Association or other charter of the issuer and that the activities which of its Memorandum of Association;
(g) Necessary arrangements have been made to ensure that the moneys to be received pursuant to the issue shall be kept in a separate bank account and shalproceeds section of the prospectus;
(h) All the applicable disclosures mandated in the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015 have been made in addition to other disclosures adequate to enable the investor to make a well informed decision;
(i) We enclose a note explaining how the process of due diligence has been exercised by us in view of the nature of current business background or the issuer, situation at which the proposed business stands, the risk factors, sponsors experiences etc. We also and approval memos shall be kept in record by us for the next 5 (five) years after the IPO for any further inspection by the Commission;
(j) We enclose a checklist confirming ruleSecurities and Exchange Commission (Public Issue) Rules, 2015 containing details such as the rule number, its text, the status of compliance, page numbers of the prospectus where the rules has been complied with and our comments, if any;
TIFICATE BY ISSUE MANAGER (IMPERIAL CAPITAL LIMITED
[Rule: 4 (1)(d)]
hange Commission
rdinary Shares of Tk. 200,000,000.00 by Yeakin Polymer
e-mentioned forthcoming issue, state and confirm as follows:
ocuments submitted with the application for the above mentioned public he issuer and interviewed the Chairperson, Directors and key management nection with the finalization of the prospectus pertaining to the said issue;
ation and the discussions with the directors, officers and auditors of the ndent verification of the statements concerning objects of the issue and the
other materials furnished by the issuer.
Commission is in conformity with the documents, materials and papers
ating to the issue as also in the rules, notification, guidelines, instructions, mmission, other competent authorities in this behalf and the Government ;
pectus are true, fair and adequate to enable the investors to make a weent in the proposed issue and such disclosures are in accordance with the es Act, 1994, the Bangladesh Securities and Exchange Commission (Public pplicable laws;
mediaries named in the prospectus are registered with the Commission and are valid;
about the capability of the underwriters to fulfill their underwriting
issuer for which the funds are being raised in the present issue fall within e object clause of the Memorandum of Association or other charter of the
which have been carried out till now are valid in terms of the object clause tion;
been made to ensure that the moneys to be received pursuant to the issue ank account and shall be used for the purposes disclosed in the use of ctus;
mandated in the Bangladesh Securities and Exchange Commission (Public made in addition to other disclosures which, in our view, are fair and
r to make a well informed decision;
how the process of due diligence has been exercised by us in view of the kground or the issuer, situation at which the proposed business stands, the ces etc. We also confirm that the due diligence related process, documents kept in record by us for the next 5 (five) years after the IPO for any further
ming rule-wise compliance with the applicable provisions of the Bangladesh mmission (Public Issue) Rules, 2015 containing details such as the rule f compliance, page numbers of the prospectus where the rules has been ents, if any;
Page | 19
ANNEXURE: B
IMITED)
mer Limited.
follows:
bove mentioned public s and key management ning to the said issue;
rs and auditors of the cts of the issue and the
materials and papers
uidelines, instructions, f and the Government
vestors to make a well n accordance with the ge Commission (Public
th the Commission and
ill their underwriting
resent issue fall within or other charter of the ms of the object clause
d pursuant to the issue disclosed in the use of
ge Commission (Public our view, are fair and
d by us in view of the ed business stands, the ed process, documents the IPO for any further
ions of the Bangladesh tails such as the rule ere the rules has been
(k) We also declare that we have managed the public issue of following issuers in the last 05 (five) years:
Sl. No. Name of the Issue
1 AFC Agro Biotech Limited
2 Tung Hai Knitting & Dyeing Ltd.
3 C & A Textiles Limited
4 Shasha Denims Limited
5 Simtex Industries Limited
Place: DhakaDate: March 03, 2016
DUE DILIGENCE CERTIFICATE BY ISSUE MANAGER(
To The Bangladesh Securities and Exchange Commission
Sub: Public Issue of 20,000,000 Ordinary Shares of Tk. 200,000,000.00 by Yeakin Polymer Limited.
Dear Sir,
We, the issue manager to the above
(1) We have examined all the documents submitted with the application for the above mentioned public issue, visited the premises of the issuer and interviewed the Chairperson, Directors and key management personnel of the issuer in connection with the finaliza
(2) On the basis of such examination and the discussions with the directors, officers and auditors of the issuer, other agencies, independent verification of the statements concerning objects of the issue contents of the documents and other materials furnished by the issuer.
WE CONFIRM THAT: (a) The prospectus filed with the Commission is in conformity with the documents, materials and papers
relevant to the issue; (b) All the legal requirements relating to the issue as also in the rules, notification, guidelines, instructions,
etc. framed/issued by the Commission, other competent authorities in this behalf and the Government have been duly complied with;
(c) The disclosures made in prospectus are trinformed decision for investment in the proposed issue and such disclosures are in accordance with the requirements of the Companies Act, 1994, the Bangladesh Securities and Exchange Commission (Issue) Rules, 2015 and other applicable laws;
(d) Besides ourselves, all the intermediaries named in the prospectus are registered with the Commission and that till date such registrations are valid;
(e) We have satisfied ourselves about the capability commitments;
managed the public issue of following issuers in the last 05 (five) years:
Issue Month/Year
Issue Price (Tk.)
Dividend Payment
Cash
October/2013 10.00 - g April/2014 10.00 -
September/2014 10.00 -
November/2014 35.00 20% 2014
July/2015 20.00 -
Md. Salauddin Sikder FCMACEO & Managing Director
Imperial
ATE BY ISSUE MANAGER(FAS CAPITAL MANAGEMENT LIMITED
[Rule: 4 (1)(d)]
hange Commission
rdinary Shares of Tk. 200,000,000.00 by Yeakin Polymer Limited.
e-mentioned forthcoming issue, state and confirm as follows:
ocuments submitted with the application for the above mentioned public he issuer and interviewed the Chairperson, Directors and key management nection with the finalization of the prospectus pertaining to the said issue;
ation and the discussions with the directors, officers and auditors of the ndent verification of the statements concerning objects of the issue
other materials furnished by the issuer.
Commission is in conformity with the documents, materials and papers
ating to the issue as also in the rules, notification, guidelines, instructions, mmission, other competent authorities in this behalf and the Government ;
pectus are true, fair and adequate to enable the investors to make a well ent in the proposed issue and such disclosures are in accordance with the es Act, 1994, the Bangladesh Securities and Exchange Commission (pplicable laws;
mediaries named in the prospectus are registered with the Commission and are valid;
about the capability of the underwriters to fulfill their underwriting
Page | 20
ast 05 (five) years:
d Payment History
Bonus
10% 2013, 15% 2014
10% 2013, 10% 2014
11% 2014, 12% 2015
15% 2014
-
Sd/-Salauddin Sikder FCMAO & Managing Directormperial Capital Limited
ANNEXURE: B
NT LIMITED)
ymer Limited.
follows:
bove mentioned public s and key management ning to the said issue;
rs and auditors of the cts of the issue and the
materials and papers
uidelines, instructions, f and the Government
vestors to make a well n accordance with the ge Commission (Public
th the Commission and
ill their underwriting
(f) The proposed activities of the issuer for which the funds are being raised in the present issue fall within the ‘main objects’ listed in the object clause of the Memorandum of Association or issuer and that the activities which have been carried out till now are valid in terms of the object clause of its Memorandum of Association;
(g) Necessary arrangements have been made to ensure that the moneys to be received pursuant to tshall be kept in a separate bank account and shall be used for the purposes disclosed in the use of proceeds section of the prospectus;
(h) All the applicable disclosures mandated in the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015 have been made in addition to other disclosures which, in our view, are fair and adequate to enable the investor to make a well informed
(i) We enclose a note explaining how the process of due diligence has been exercised by us in view of the nature of current business background or the issuer, situation at which the proposed business stands, the risk factors, sponsors experiences and approval memos shall be kept in record by us for the next 5 (five) years after the IPO for any further inspection by the Commission;
(j) We enclose a checklist confirming ruleSecurities and Exchange Commission (Public Issue) Rules, 2015 containing details such as the rule number, its text, the status of compliance, page numbers of the prospectus where the rules has been complied with and our comments, if any;
(k) We also declare that we have n
Place: DhakaDate:March 03, 2016
issuer for which the funds are being raised in the present issue fall within e object clause of the Memorandum of Association or
which have been carried out till now are valid in terms of the object clause tion;
been made to ensure that the moneys to be received pursuant to tank account and shall be used for the purposes disclosed in the use of ctus;
mandated in the Bangladesh Securities and Exchange Commission (Public made in addition to other disclosures which, in our view, are fair and
r to make a well informed decision;
how the process of due diligence has been exercised by us in view of the kground or the issuer, situation at which the proposed business stands, the ces etc. We also confirm that the due diligence related process, documents kept in record by us for the next 5 (five) years after the IPO for any further
ming rule-wise compliance with the applicable provisions of the Bangladesh mmission (Public Issue) Rules, 2015 containing details such as the rule f compliance, page numbers of the prospectus where the rules has been ents, if any;
not managed any public issue in the last 05 (five) years.
Chief EFAS Capital
Page | 21
resent issue fall within or other charter of the ms of the object clause
d pursuant to the issue disclosed in the use of
ge Commission (Public our view, are fair and
d by us in view of the ed business stands, the ed process, documents the IPO for any further
ions of the Bangladesh tails such as the rule ere the rules has been
rs.
Sd/-Md. Shahidul Alam
Executive Officer (C.C.)al Management Limited
DUE DILIGENCE CERTIFICATE BY THE UNDERWRITER(S)
To The Bangladesh Securities and Exchange Commission
Sub: Public offer of 20,000,000 Ordinary Shares of Tk
Dear Sir, We, the under-noted Underwriter(s) to the abovecollectively as follows: (1) We, while underwriting the above mentioned issue on a firm commitment basis, have examined the draft
prospectus, other documents and materials as relevant to our underwriting decision; and
(2) On the basis of such examination and the discussions with the isand other agencies, independent verification of the statements concerning objects of the issue and the contents of the documents and other materials furnished by the issuer company.
WE CONFIRM THAT: (a) We are registered with the Bangladesh Securities and Exchange Commission as a merchant banker and
eligible to carry out the underwriting activities. Our present paid(Taka Fifty Crore only) and we have the capacity to underwrite a(Taka Two Hundred and Fifty Crore Only) as per relevant legal requirements. We have committed to underwrite for up to Tk. 21,000,000(Taka
(b) At present, the following underwriting obligations are pending for us: (Name of issue and amount underwritten)
SL. No. Name of the Companyi Alliance Holdings Limitedii MP Spinning Mills Limitediii LSI Industries Limitediv Amulet Pharmaceuticals Ltd.V MEB Poy Manf. Plant Ltd.vi Pacific Denims limited
Total
(c) All information as are relevant to our underwriting decision have been received by us and the draft prospectus forwarded to the Commission has been approved by us;
(d) We shall subscribe and take up the unwithin 15 (fifteen) days of calling up thereof by the issuer; and
(e) This underwriting commitment is unequivocal and irrevocable.
Sd/- Md. Golam Sarwar Bhuiyan Chief Executive Officer AIBL Capital Management Limited
Date: January 28, 2016
IGENCE CERTIFICATE BY THE UNDERWRITER(S)
Rule: 4 (1) (d)
hange Commission
rdinary Shares of Tk. 200,000,000.00of Yeakin Polymer Limited
er(s) to the above-mentioned forthcoming issue, state individually and
bove mentioned issue on a firm commitment basis, have examined the draft nd materials as relevant to our underwriting decision; and
ion and the discussions with the issuer company, its directors and officers, ent verification of the statements concerning objects of the issue and the other materials furnished by the issuer company.
angladesh Securities and Exchange Commission as a merchant banker and rwriting activities. Our present paid-up capital stands at Tk. 500,000,000 we have the capacity to underwrite a total amount of Tk. 2,500,000,000 y Crore Only) as per relevant legal requirements. We have committed to 00,000(Taka Two Crore Ten Lac Only) for the upcoming issue.
derwriting obligations are pending for us: (Name of issue and amount
e Company Underwritten (in BDT)imited 46,750,000.00Limited 45,000,000.00ed 20,000,000.00ticals Ltd. 30,000,000.00 nt Ltd. 30,000,000.00 ted 70,000,000.00
241,750,000.00
nt to our underwriting decision have been received by us and the draft ommission has been approved by us;
up the un-subscribed securities against the above-ming up thereof by the issuer; and
nt is unequivocal and irrevocable.
Page | 22
ANNEXURE: C
mer Limited.
state individually and
ave examined the draft n; and
directors and officers, ts of the issue and the
merchant banker and ds at Tk. 500,000,000 of Tk. 2,500,000,000
We have committed to ing issue.
of issue and amount
d by us and the draft
mentioned public issue
DUE DILIGENCE CERTIFICATE BY THE UNDERWRITER(S)
To The Bangladesh Securities and Exchange Commission
Sub: Public Offer of 20,000,000 Ordinary Shares of Tk. 10.00 each at par totaling to Tk. 200,000,000 of Yeakin Polymer Limited.
Dear Sir, We, the under-noted Underwriter (s) to the abovecollectively as follows:
1. We, while underwriting the above mentioned Issue on a firm commitment basis, have examined the draft Prospectus, other documents and materials as relevant to our underwriting decision; and
2. On the basis of such examination and the discussions with the Issuer Company, it’s directors and officers, and other agencies, independent verification of the statements conIssue and the contents of the documents and other materials furnished by the Issuer Company.
WE CONFIRM THAT:
a) We are registered with the Bangladesh Securities and Exchange Commission as a merchant banker and eligible to carry out t42,00,00,000 (Forty-Two210,00,00,000 (Two Hundred Ten Crore Only) as per relevant legal requirements. We have committed to underwrite for up to Tk.issue.
b) At present, the following underwriting obligations are pending for us: (Name of issue and amount
underwritten)
SL N1 Ananda Shipyard & Slipways Ltd.2 Dhaka Regency Hotel and Resort Limited3 MP Spinning Mills Ltd.4 Hemple Rhee Manufacturing Co. (BD) Ltd.5 Summit Shipping Ltd.6 Karim Spinning Mills Ltd.7 Summit Uttaranchol Power Company Ltd.8 Metrocem Cement Limited9 IDLC Finance Limited (Right Issue)
c) All information as are relevant to our underwriting decision have been received by us and the draft prospectus forwarded to the Commission has been approved by us;
d) We shall subscribe and take up the unissue within 15 (fifteen) days of calling up thereof by the issuer; and
e) This underwriting commitment is unequivocal and irrevocable.
For Underwriter(s) Sd/- Md. Riyad Matin Managing Director BMSL Investment Limited Date: 10 March, 2016
IGENCE CERTIFICATE BY THE UNDERWRITER(S)
Rule: 4 (1) (d)
hange Commission
Ordinary Shares of Tk. 10.00 each at par totaling to Tk. 200,000,000 of
(s) to the above-mentioned forthcoming Issue, state individually and
he above mentioned Issue on a firm commitment basis, have examined the cuments and materials as relevant to our underwriting decision; and
mination and the discussions with the Issuer Company, it’s directors and ies, independent verification of the statements conhe documents and other materials furnished by the Issuer Company.
he Bangladesh Securities and Exchange Commission as a merchant banker the underwriting activities. Our present paid-up capital stands at Tk.
Crore Only) and we have the capacity to underwrite a totndred Ten Crore Only) as per relevant legal requirements. We have for up to Tk.2,80,00,000.00 (Two Crore Eighty Lac Only) for the upcoming
underwriting obligations are pending for us: (Name of issue and amount
Name of the company Amount Underwritten (In Tk.)yard & Slipways Ltd.cy Hotel and Resort LimitedMills Ltd.Manufacturing Co. (BD) Ltd.
ping Ltd.ng Mills Ltd.anchol Power Company Ltd.ment LimitedLimited (Right Issue)
Total
evant to our underwriting decision have been received by us and the draft he Commission has been approved by us;
ake up the un-subscribed securities against the aboveays of calling up thereof by the issuer; and
tment is unequivocal and irrevocable.
Page | 23
ANNEXURE: C
to Tk. 200,000,000 of
ndividually and
sis, have examined the ng decision; and
pany, it’s directors and cerning objects of the ssuer Company.
as a merchant banker capital stands at Tk.
e a total amount of Tk. quirements. We have
Only) for the upcoming
e of issue and amount
nderwritten (In Tk.)18,180,000.0025,000,000.0040,000,000.0014,000,000.0052,500,000.0075,000,000.0012,000,000.00
100,000,000.0050,000,000.00
386,680,000.00
ved by us and the draft
ove- mentioned public
DUE DILIGENCE
To The Bangladesh Securities and Exchange Commission
Sub: Public offer of 20,000,000 Ordinary
Dear Sir, We, the under-noted Underwriter(s) to thecollectively as follows: (1) We, while underwriting the above mentioned issue on a firm commitment basis, have examined the draft
prospectus, other documents and materials as relevant to our underwriting decision; and
(2) On the basis of such examination and the discussions with the issand other agencies, independent verification of the statements concerning objects of the issue and the contents of the documents and other materials furnished by the issuer company.
WE CONFIRM THAT:
(f) We are registered with the Bangladesh Securities and Exchange Commission as a merchant banker and eligible to carry out the underwriting activities. Our present paidcrore) and we have the capacity to underwrite a total amount of Tklegal requirements. We have committed to underwrite for up to Tk. 2.10 (Two crore, ten lac) for the upcoming issue.
(g) At present, the following underwriting obligations are pending for us: (Name of issue and amount
underwritten)
Name of the Issuer Company
MEB Poly Manufacturing Plant LimitedSupreme Seed Company LimitedSBS Cables LimitedAnanda Shipyard & Slipways Limited.Genuity Systems LimitedBangladesh National Insurance Company Ltd.Aftab Hatchery LimitedIDLC Finance Limited
Total Commitment
(h) All information as are relevant to our underwriting decision have been received by us and the draft prospectus forwarded to the Commission has been approved by us;
(i) We shall subscribe and take up the unwithin 15 (fifteen) days of calling up thereof by the issuer; and
(j) This underwriting commitment is unequivocal and irrevocable.
For the Underwriter: Sd/- Mohammed Ahsan Ullah Managing Director Grameen Capital Management Limited
Date: 10 March, 2016
IGENCE CERTIFICATE BY THE UNDERWRITER(S)
Rule: 4 (1) (d)
hange Commission
rdinary Shares of Tk. 200,000,000.00 of Yeakin Polymer Limited.
er(s) to the above-mentioned forthcoming issue, state individually and
bove mentioned issue on a firm commitment basis, have examined the draft nd materials as relevant to our underwriting decision; and
ion and the discussions with the issuer company, its directors and officers, ent verification of the statements concerning objects of the issue and the other materials furnished by the issuer company.
angladesh Securities and Exchange Commission as a merchant banker and erwriting activities. Our present paid-up capital stands at Tk10.00 (ten ity to underwrite a total amount of Tk.50.00 (Fifty Crore)committed to underwrite for up to Tk. 2.10 (Two crore, ten lac) for the
derwriting obligations are pending for us: (Name of issue and amount
the Issuer Company GCML' S commitment (Amount)
nt Limitedted
Limited.
ce Company Ltd.
al Commitment
nt to our underwriting decision have been received by us and the draft ommission has been approved by us;
up the un-subscribed securities against the above-ming up thereof by the issuer; and
nt is unequivocal and irrevocable.
mited
Page | 24
ANNEXURE: C
mer Limited.
state individually and
ave examined the draft n; and
directors and officers, ts of the issue and the
merchant banker and tands at Tk10.00 (ten Crore) as per relevant crore, ten lac) for the
of issue and amount
S commitment Amount)
20,000,00033,000,00034,000,00018,180,00018,750,00013,275,000
210,000,00030,000,000
377,205,000
d by us and the draft
mentioned public issue
CHAPTER (IV): ABOUT THE ISSUER
(a) Name of the issuer, dates of incorporation and commencement ofits commercial operations, its logo, addresses of its registeredoffice, other offices and plants, telephone number, fax number,contact person, website address and e-mail address;
Particulars
Name of the issuer
Dates of incorporation
Commencement of its commercial operations
Logo
Addresses of its registered office
Other offices (Local)
Plants (Factory)
Telephone number
Fax number
Contact person
Website address
E-mail address
(b)The names of the sponsors and directors of the issuer:
Sponsors: Sl. No
1 S.M Akter Kabir2 Md. Rezaul Islam Chowdhury3 Sk. Jamil Hossain4 Quazi Anwarul Haque5 Mrs. Maliha Parvin6 Engg. Quazi Shafiqul Haque7 Quazi Emdadul Haque
Directors:
Sl. Name1 Quazi Anwarul Haque2 S.M Akter Kabir 3 Quazi Nazibul Haque
4 Dr. S. M ManiruzzamanNominee of Satkhira Feed Industries Ltd.
5 Sk. Jamil HossainNominee of Yeakin Agro Products Ltd.
6 Mrs. Julia Parvin7 Mrs. Sabrina Samsad8 Siddiqur Rahman9 Khandaker Abdul Mabud
UER
incorporation and commencement ofits commercial operations, its logo, e, other offices and plants, telephone number, fax number,contact person, dress;
Description
: Yeakin Polymer Limited : Yeakin Polymer Limited (former Yeakin Business Limited)
was incorporated in Bangladesh on 8Public Limited Company.The company was converted into a Private Limited Company on 10thNagain it was re-converted into a Public Limited Company on 15thMay, 2012. The Name of the Company was changed on 15thDecember, 2010 from Yeakin Business Limited Yeakin Polymer Limited.
l : The Company has obtained commencement certificate on8thFebruary, 2001 and started its commercial operation on 15thJuly, 2003.
:
: 83, Siddheswari Circular Road, Manhattan Tower (6Floor), Malibagh, Dhaka-1217. House#291, Road: Sonadanga, R/A (29000.
: Labsha, Satkhira, Bangladesh.No other offices except registered office
: +88-02-8314498 : +88-02-9359526 : Md. Akhtaruzzaman, Company Secretary: www.yeakingroupbd.com: [email protected]
directors of the issuer:
Sponsors
dhury
aque
PositionChairman
Managing Director Director
ndustries Ltd. Director
roducts Ltd. Director
DirectorDirector
Independent DirectorIndependent Director
Page | 25
al operations, its logo, number,contact person,
akin Business Limited) 8thFebruary, 2001 as a
ny was converted into a November, 2003 and ic Limited Company on mpany was changed on
Business Limited to
ncement certificate onmmercial operation on
Manhattan Tower (6th
(2nd Phase), Khulna-
ce and plants.
tary
(c) The name, logo and address of the auditors along with their telephone numbers, fax contactpersons, website and e-
ParticularsName
Logo
Address
Telephone numberFax numbersContact personWebsite addressE-mail address
(d) The name(s) of the stock exchanges where
Stock Exchanges
DHAKA STOCK EXCHANGE LIMITED9/F Motijheel C/A, Dhaka 1000
CHITTAGONG STOCK EXCHANGE LTD.CSE Building, 1080, Sheikh Mujib Road4100.
s of the auditors along with their telephone numbers, fax mail addresses:
Description: Artisan, Chartered Accountants:
: BSEC Bhaban (Level-10), 102, Kazi Nazrul Islam Avenue Kawran Bazar, Dhaka-1215.
: +88-02-8189883: +88-02-8180187: A F M Alamgir FCA, Chief Executive Partner: www.artisan-ca.com: [email protected]
nges where the specified securitiesare proposed to be listed.
HANGE LIMITEDDhaka 1000.
Tel: +88-02-Fax: +88-02-9564727,+88
K EXCHANGE LTD., Sheikh Mujib Road, Chittagong
Tel:
Page | 26
umbers, fax numbers,
Nazrul Islam Avenue
Partner
e listed.
-9564601, 9576210-1864727,+88-02-9569755
Web: :www.dsebd.orgel: +880-2-9513911-15
Fax: +880-2-9513906 Web:www.cse.com.bd
CHAPTER (V): CORPORATE DIRECTORY OF THE ISSUER
Name of the Company : Yeakin Polymer Limited (YPL)
Legal Position :
Yeakin Polymer LimitedBangladesh on 08was converted into a Private Limited Company on 10again it was reThe Name of the Company was changed on 15Business Limited into Yeakin Polymer Limited.
Date of Incorporation : February 08, 2001
Authorized Capital : Tk.1,000,000,000 divided into 100,000,000 Ordinary Share of Tk.10.00 each
Paid up Capital : Tk. 390,000,000 divided into 39,000,000 Ordinary Share of Tk. 10.00 each
Registered Office :
83, SidManhattan Tower Phone: Email: Web site:
Factory : Labsha, Satkhira
Local Office: House#291, Road: Sonadanga, R/A (2
Board of Directors : 9 Directors.
Auditors :
ArtisanChartered AccountsBSEC BhabaTel: +88Fax: +88Email:
Tax Consultants : Mizanur Rahman143, Shantinagar Bazar Road, Dhaka.
Legal Advisors : Quazi Raquibul Islam, Advocate Supreme Court of Bangladesh, Shantinagar, Dhaka
Compliance Officer : Md. A
RECTORY OF THE ISSUER
n Polymer Limited (YPL)
n Polymer Limited (former Yeakin Business Limited) was incorporated in ladesh on 08th February, 2001 as a Public Limited Companconverted into a Private Limited Company on 10th
it was re-converted into a Public Limited Company on 15Name of the Company was changed on 15th December, 2010 from Yeakin ess Limited into Yeakin Polymer Limited.
uary 08, 2001
000,000,000 divided into 100,000,000 Ordinary Share of Tk.10.00 each
90,000,000 divided into 39,000,000 Ordinary Share of Tk. 10.00 each
iddheswari Circular Road, hattan Tower (6th Floor) Malibagh, Dhaka-1217. e: +88-02-8314498, Fax: +88-02-9359526 l: [email protected], site: www.yeakingroupbd.com
ha, Satkhira, Bangladesh.
e#291, Road: Sonadanga, R/A (2nd Phase), Khulna-90
ectors.
antered AccountsBhaban, Karwan Bazar, Dhaka.
+88-02-8189883 +88-02- 8180187 l:[email protected] nur RahmanShantinagar Bazar Road, Dhaka.i Raquibul Islam, cate Supreme Court of Bangladesh, Shantinagar, Dhaka
Akhtaruzzaman, Company Secretary
Page | 27
) was incorporated in mpany. The Company November, 2003 and y on 15th may, 2012. er, 2010 from Yeakin
are of Tk.10.00 each
e of Tk. 10.00 each
000.
aka
CHAPTER (VI): DESCRIPTION OF THE ISSUER
(a) Summary:
(i) The summary of the industry and business environment of the issuer.
Summary of the Industry of the Issuer:
In Bangladesh demand for PP woven bag is increasing over the years. Polypropylene (PP) is one kind of thermoplastic resin material that produced by the polymerization of propylene. This bag are used for bagging of cement, poultry & aqua feed, food grain, s5000 small, medium and large size plastic goods manufacturing units. Approximately one million people are directly or indirectly employed in this sector. in manufacturing PP Woven Bag for bagging of cement, poultry & aqua feed, food grain, salt, seed. Annual Turnover of this sector is more than tk. 25.5 billion.
Business environment of the Issuer:Yeakin Polymer Limited incorporated as a public limitedoperation after two years of inception.of manufacturing and marketing (local & export) of PP woven regular bags [laminated & unBOPP film / Sack Kraft paper attach bag, Jumbo / FIBC bag and HDPE / LDPE liner in differencolor, denier, mash. Polymer Limited sells its products in local materials of the product are TPMC in form chemicals, which are procured from overseas market. The company has some trusted suppliers of its materials and chemicals. In Bangladesh a number of industries are now engaged in manufacturing PP Woven Bag for bagging of cement, poultry & aqucone, detergent, tea, confectionery, others)flourishing fast as Bangladesh is one of the prime sources of cheap l
(ii) Summary of consolidated financial, operating and other information.
The information is not applicable for the issuer. Since, it has no subsidiary and associates company.
(b) General Information:
(j) Name and address, telephone and faxoffices, factory, business premises and outlets of the issuer;
Particulars
Name and registered office address
Telephone and Fax Numbers oOffice Corporate Head Office
Other Offices (Local)
Factory
Telephone and E-mail of the Factory
Outlets of the Issuer
(ii) The board of directors of the issuer;
Sl.1 Quazi Anwarul Haque2 S.M Akter Kabir3 Quazi Nazibul Haque
4 Dr. S. M ManiruzzamanNominee of Satkhira Feed Industries Ltd.
5 Sk. Jamil HossainNominee of Yeakin Agro Products Ltd.
6 Mrs. Julia Parvin7 Mrs. Sabrina Samsad8 Siddiqur Rahman9 Khandaker Abdul Mabud
OF THE ISSUER
try and business environment of the issuer.
e Issuer:
woven bag is increasing over the years. Polypropylene (PP) is one kind of that produced by the polymerization of propylene. This bag are used for aqua feed, food grain, salt, seed, bulk carrier etc. B
e size plastic goods manufacturing units. Approximately one million people oyed in this sector. In Bangladesh a number of industries are now engageBag for bagging of cement, poultry & aqua feed, food grain, salt, seed.
r is more than tk. 25.5 billion.
suer:rporated as a public limited company in 2001 and starts its commercial ception. The principal activities of the company are to carry on the business ing (local & export) of PP woven regular bags [laminated & unr attach bag, Jumbo / FIBC bag and HDPE / LDPE liner in differen
Limited sells its products in local and international PMC in form of PP, HDPE, LDPE, LLDPE, Caco3 and Filler, Ink, Thinner and ed from overseas market. The company has some trusted suppliers of its angladesh a number of industries are now engaged in manufacturing PP
ment, poultry & aqua feed, food grain, salt, seed, bulk carrier (i.e. spanning onery, others), riverbank embankment bag. The wovenis one of the prime sources of cheap labor in the world.
inancial, operating and other information.
plicable for the issuer. Since, it has no subsidiary and associates company.
one and fax numbers of the registered office, corporate head office, other remises and outlets of the issuer;
Description
ddressYeakin Polymer Limited (YPL)83, Siddheswari Circular Road, Floor), Malibagh, Dhaka-1217.
of the Registered Telephone: +88-02-8314498Fax: +88-02-9359526DoHouse#291, Road: Sonadanga, R/A (2Khulna-9000. Labsha, Satkhira, Bangladesh.
Factory Cell No: +88-01706319360Email: [email protected] company has no outlets.
suer;
Name Positionque Chairman
Managing Directorue Directoramana Feed Industries Ltd. Director
Agro Products Ltd. Director
Directorad Director
Independent DirectorMabud Independent Director
Page | 28
ene (PP) is one kind of This bag are used for
Bangladesh has around tely one million people stries are now engagedfood grain, salt, seed.
d starts its commercial o carry on the business nated & un-laminated], liner in different size,
nal market. Main raw Filler, Ink, Thinner and trusted suppliers of its d in manufacturing PP k carrier (i.e. spanning woven-bag industry is ld.
associates company.
orate head office, other
n
Manhattan Tower (6th .
R/A (2nd Phase),
d.com
itionirmang Directorector
ector
ector
ectorectorent Directorent Director
(iii) Names, addresses, telephone numbers, fax numbers a
Sl.No. Name Position
01 Quazi Anwarul Haque Chairman02 S.M Akter Kabir MD & Director03 QuaziNazibul Haque
Director
04Dr. S. M ManiruzzamanNominee of Satkhira FeedIndustries Ltd.
05Sk. Jamil HossainNominee of Yeakin Agro ProductsLtd.
06 Mrs. Sabrina Samsad07 Mrs. Julia Parvin08 Siddiqur Rahman Independent
Director09 Khandaker Abdul Mabud
(iv) Names, addresses, telephone numbers, fax numbers a
Names DesignationA B M MahmudulHasan CFO
Md. Akhtaruzzaman Company Secretary &Compliance Officer
ARTISANCharteredAccountants
Auditors BSEC Bhaban
Quazi RaquibulIslam Legal Advisor Advoc
Supreme C
(v) Names, addresses, telephone numbers, fax numbers, c
Name Address
IMPERIAL CAPITAL LIMITEDSaiham Sky View Tower (3
Floor), 45 Bijoy Nagar,Dhaka-1000.
FAS CAPITAL MANAGEMENT LIMITEDZahed Plaza (5th Floor),
30 Gulshan Avenue NorthC/A, Dhaka-1212.
and e-mail addresses of the chairman, managing director, whole time direc
Address Cell No. Fa
3/A, 13/19 Sir Syed Road, Mohammadpur, Dhaka. 01706319351
+893
23 R.K Mission Road, Wari, Motijheel, Dhaka. 01706319352House No. 45, Road No. 4/A, Dhanmondi R/A, Dhaka. 01706319353
Vill: Sutfa, P.O- U.A Khalia, Dist.- Gopalgong 01706319354
Vill: Jhikra, P.O & P.S: Kalaroa, Dist. Satkhira 01706319355
House No. 45, Road No. 4/A, Dhanmondi R/A, Dhaka. 01706319357Vill: Sutfa, P.O- U.A Khalia, Dist.- Gopalgong 01706319356
8/1, Block-D, Lalmatia, Dhaka. 01706319358House No-321, Road No-03, Sonadanga R/A (2nd Phase)
Khulna -9000 01706319359
and e-mail addresses of the CFO, company secretary, legal advisor, auditors
Address Telephone Number
83. Siddheswari Circular RoadManhatton Tower (6TH Floor)
Malibagh More, Dhaka 1217, Bangladesh
+88-02-8314498
+88-02-8313882
n (Level-10)102, Kazi Nazrul Islam AvenueKawran Bazar,Dhaka. +88-02-8189883
cate Supreme Court,42-43 Siddeshwari Circular RoaCourtTarsur Island, 2nd Floor, Shantinagor,Dhaka-1217 +88-02-58311491
contact person, website addresses and e-mail addresses of the issue manage
Telephone & FaxNumber Contact Person Website Ad
3rd Tel: +88-02-9361870
Fax: +88-02-9361870(Ext.-102)
Md. Salauddin Sikder FCMACEO & Managing Director www.imperialc
,h
Tel: +88-02-8834253-4
Fax: +88-02-8834456Md. Shahidul Alam
Chief Executive Officer (C.C.) www.fc
Page | 29
ctors, etc. of the issuer;
ax No. E-mail addresses
88-02-359526
[email protected]@yeakingroupbd.com
[email protected]@[email protected]
s and compliance officer;
Fax number E-mail addresses
+88-02-8180187 [email protected]
er(s);
ddress E-mail Address
capital.org [email protected]
cmlbd.com [email protected]
(vi) Credit Rating This credit rating was done by the issuer June, 2014.
a) The credit rating report has been obtained fr
b) Details of the credit ratings
Name of Credit rating agencyFinancial Year
Rating obtained
Date of Rating: 31.12.2014
RatingValidity
c) Rationale or Description of the rating (s) so obtained, as furnished by the credit rating agency:
Credit Rating Agency of Bangladesh Limited (CRAB) has retained BBBlimited. CRAB has also retained STcompany in the short Team.
Following similar type of business and financial risk exposure of Yeakin Polymer limited, CRAB has retained entity and short term ratings.
The rating are primarily supported by gradual expansion variety with adequate capacity to execute customized assistance, support and business transaction with associated concerns, local sourcing of labor, direct involvement of directors and good loan repayment
The assigned ratings are constrained by remote location of production facility, import dependency for raw materials sourcing, inadequate fire safety fire safety scheme with an expired policy and stressed liquidity position of the receivable collection period to some extent in 2014 but the periods are still very higmore than seven month long cash conversion cycle. Such long stage created stressed liquidity scenario as well as high net
Moderately structured production planning along with less sensitivity to seasonal impact, consequence of management’s plan to establish the reorganizational foundation for operating the CSR programs of the Group were also considered while assigning the ratings.
d) Observations and risk factors as stated in the credit rating report: There are no available information about report.
(vii) Following details of underwriting:
a) The names, addresses, telephone numbers, fax numbers, contact persons and etheunderwriters and the amount underwritten by them;
Names & Address
BMSL INVESTMENT LIMITED Sadharan Bima Tower (7th Floor),37/A Dilkusha C/A, Dhaka-1000.
AIBL Capital Management LimitedPeoples Insurance Bhaban (7th Floor), 36 Dilkusha C/A, Dhaka-1000.
GRAMEEN CAPITAL MANAGEMENT LIMITEDGrameen Bank Complex (10th Floor),Mirpur-2, Dhaka-1216
y the issuer based on the audited financial statement
as been obtained from Credit Rating Agency of Bangladesh Limited (CRAB).
gs obtained for the issue and issuer:
: Credit Rating Information and Services Limited (CRISL): For the year ended 30 June 2014
:
14Long Term Short Term
BBB2 ST-330.12.2015 30.12.2015
f the rating (s) so obtained, as furnished by the credit rating agency:
Bangladesh Limited (CRAB) has retained BBB2 rating of Yeakin Polymer etained ST-3 rating of BDT 90.0 million aggregate composite limit of the m.
business and financial risk exposure of Yeakin Polymer limited, CRAB has erm ratings.
supported by gradual expansion variety with adequate capacity to execute pport and business transaction with associated concerns, local sourcing of of directors and good loan repayment record of Yeakin Polymer limited.
constrained by remote location of production facility, import dependency ng, inadequate fire safety fire safety scheme with an expired policy and n of the Company. YPL reduced its inventory processing period and od to some extent in 2014 but the periods are still very hig
long cash conversion cycle. Such long stage created stressed liquidity et working capital requirement.
production planning along with less sensitivity to seasonal impact, ment’s plan to establish the re-cycling plant & storage and the intran for operating the CSR programs of the Group were also considered while
ors as stated in the credit rating report: formation about observations and risk factors as stated
ting:
one numbers, fax numbers, contact persons and eount underwritten by them;
Contact Person Telephone & Fax Number and E-mail address
0.
Md. Riyad Matin Managing Director
Tel: +88-02-Fax: +88-02-
Email: [email protected]: www.bmslinvestment.com
dor),
Md. Golam Sarwar Bhuiyan
Chief Executive Officer
Tel: +88-02-9560198, +88
Fax: +88-02-E-mail: [email protected]
Web: www.al-arafahbank.com
MITED Mohammed Ahsan Ullah Managing Director
Tel: +88-02-Fax: +88-02-
Email: [email protected]: www.grameencapitalbd.org
Total
Page | 30
for the year ended 30
adesh Limited (CRAB).
RISL)
rm
015
t rating agency:
ng of Yeakin Polymer composite limit of the
mer limited, CRAB has
ate capacity to execute erns, local sourcing of in Polymer limited.
ty, import dependency an expired policy and
processing period and ery high which created ated stressed liquidity
to seasonal impact, torage and the intra-
e also considered while
ted in the credit rating
d e-mail addresses of
ber and Amount Underwritten
-7169428-9570624
msl.com.bdment.com
28,000,000.00
, +88-02-9515071
-7170391 hbank.comhbank.com
21,000,000.00
-9004923-8057618 yahoo.compitalbd.org
21,000,000.00
70,000,000.00
b) Declaration by the underwriters that they have sufficient resources as per the regulatory requirementsto discharges their respective obligations;All the underwriters have sufficient resources as per the regulatory requirements to discharge their respective obligations which areUnderwriter(S) page number 2
c) Major terms and conditions of the underwriting agreements.
i. The IPO shall stand cancelled if at least 65% in any category of the IPO is not subscribed.
ii. In case of undersubscribtion in any category by up to 35% of the IPO the undersecurities shall be taken up by
iii. Notwithstanding anything contained in the agreement in case of inconsistency between the provision of the agreement and the Bangladeh Securities and ExcIssue) Rules, 2015, the Public Issue Rules shall prevail.
iv. Prior to publication of the prospectus, the Company shall have obtained consent from the Bangladesh Securities and Exchange Commission permitting the issue as described in Article 2.01 and providing for payment of underwriting commission percent) on the amount underwritten.
v. If and to the extent that the shares offered to the public by a Prospectus authorized hereunder shall not have been subscribed and paid for in cash in full by the Closing Date, the Company shall within 10 (ten)dayswith a copy of the said writing to the Bangladesh Securities and Exchange Commission, to subscribe the shares not so subscribed by the closing date and to pay for in cash in full, of any premium if applicable, for such unsubscribed shares within called upon to do so. The amount so received shall be credited to the share subscription account of the Company within the said period. If payment is mUnderwriter, it will be deemed that the Underwriter has not fulfilled his obligation towards his underwriting commitment under this Agreement, until such time as the Cheque/Bank Draft has been encashed and the Company’s shar
In any case within 7 (shall send proof of subscription and payment by the Underwriters to the Commission.
In the case of failure by the underwrCompany/Issuer will be under no obligation to pay any underwriting commission under this Agreement.
rs that they have sufficient resources as per the regulatory requirementsto igations;fficient resources as per the regulatory requirements to discharge their are disclosed in CHAPTER (III) under Due Diligence Certificate by The 22-24.
he underwriting agreements.
ancelled if at least 65% in any category of the IPO is not subscribed.
cribtion in any category by up to 35% of the IPO the underen up by the underwriters.
thing contained in the agreement in case of inconsistency between the eement and the Bangladeh Securities and Exchange Commission (Public e Public Issue Rules shall prevail.
of the prospectus, the Company shall have obtained consent from the s and Exchange Commission permitting the issue as described in Article for payment of underwriting commission 0.50% (zero point nt underwritten.
hat the shares offered to the public by a Prospectus authorized hereunder ubscribed and paid for in cash in full by the Closing Date, the Company days of the closure of subscription call upon the underwriters in writing said writing to the Bangladesh Securities and Exchange Commission, to not so subscribed by the closing date and to pay for in cash in full, pplicable, for such unsubscribed shares within 15 (fifteen)daysThe amount so received shall be credited to the share subscription account hin the said period. If payment is made by Cheque/Bank Draft by the
be deemed that the Underwriter has not fulfilled his obligation towards his ment under this Agreement, until such time as the Cheque/Bank Draft has e Company’s share subscription account credited.
seven) days after the expiry of the aforesaid 15 (fifteen) days, the Company bscription and payment by the Underwriters to the Commission.
by the underwriter to pay for the shares within the stipulated time, the be under no obligation to pay any underwriting commission under this
Page | 31
ulatory requirementsto
nts to discharge their ce Certificate by The
not subscribed.
the under-subscribed
nsistency between the ge Commission (Public
ned consent from the as described in Article (zero point five zero
authorized hereunder ng Date, the Company nderwriters in writing hange Commission, to n cash in full, inclusive fifteen)days after being e subscription account ue/Bank Draft by the obligation towards his
Cheque/Bank Draft has
en) days, the Company ommission.
he stipulated time, the commission under this
(c) Capital Structure:
(i) Authorized, issued, subscribed and paid up capital (number and class ofnominal price, issue price and form of consideration);
Particulars
Authorized Capital
Before IPO Paid up capital After IPO: To be issued as IPO Paid up capital (Post IPO)
The Company has raised its paid
Particulars of Allotment
First (subscription to the Memorandum & Articles of Association at the time of incorporation)
2nd
3rd
4th
5th
6th
7th
8th
9th
10th
11th
12th
13th
14th
15th
16th
17th
18th
Total
(ii) Size of the present issue, with breakamount);
Particulars
Before IPO: Paid up capital After IPO: To be issued as IPO Paid up capital (Post IPO)
(iii) Paid up capital before and after the present issue, after conversion of convertible instruments (if any) and share premium account (before and after the issue);
The Company has no convertible instruments. It has not issue any share in
Paid up capital before the present issue
390,000,000
bed and paid up capital (number and class of securities, allotment dates, and form of consideration);
No. of Ordinary SharesNominal
price Issue price
100,000,000 10.00 10.00
39,000,000 10.00 10.00
20,000,000 10.00 1059,000,000 10.00 10.00
id-up capital in following phases:
Date of Allotment
Number of shares issuedConsideration in
Cash Consideration
other than Cash
8.02.2001 100,000
10.07.2002 10,000 -30.08.2003 890,000 -20.11.2004 1,200,000 -31.10.2010 2,100,000 -29.04.2011 800,000 -29.04.2011 650,000 -29.04.2011 250,000 -06.03.2012 1,000,000 -14.03.2012 675,500 -10.04.2012 671,500 -30.04.2012 1,253,000 -12.05.2012 10,000 -02.01.2013 1,214,500 -06.01.2013 5,164,500 -09.01.2013 970,000 -18.09.2013 7,041,000 -30.03.2015 15,000,000 -
39,000,000
h break-up (number of securities, description, nominal
No. of Ordinary SharesNominal
price Issue price
39,000,000 10.00 10.00
20,000,000 10.00 1059,000,000 10.00 10.00
r the present issue, after conversion of convertible instruments (if any) and e and after the issue);
ble instruments. It has not issue any share in premium.
present issue Paid up capital after the present issue
590,000,000
Page | 32
urities, allotment dates,
price Amount in Taka
0.00 1,000,000,000
0.00 390,000,000
0.00 200,000,0000.00 590,000,000
Amount in Taka tion
Cash
- 1,000,000
100,0008,900,000
12,000,00021,000,000
8,000,0006,500,0002,500,000
10,000,0006,755,0006,715,000
12,530,000100,000
12,145,00051,645,000
9,700,00070,410,000
150,000,000390,000,000
minal value and issue
price Amount in Taka
0.00 390,000,000
0.00 200,000,0000.00 590,000,000
nstruments (if any) and
m.Amount in Taka
present issue
0
(iv) Category wise shareholding structure with percentag
a. Director & Sponsors:
Sl. No Name of Director & Sponsor
1 Quazi Anwarul Haque 3/A, 13/2 S.M Akter Kabir 23 R.K M3 Sk. Jamil Hossain Vill: Jhikr4 Quazi Nazibul Haque House No5 Satkhira Feed Inds. Ltd Vill: Labs6 Yeakin Agro Products Ltd. Vill: Labs7 Mrs. Sabrina Samsad Road No.8 Quazi Emdadul Haque Vill- Labs9 Mrs. Maliha Parvin 3/A, 13/
10 Mrs. Julia Parvin Vill: Sutfa
b. General Shareholders:
Sl. No Name of the Shareholders
11 Dr. S.M Maniruzzaman Vill: Sutfa12 Dr. Faruque Hossain Vill- Jhikr13 Md. Babul Hossain Flat-2C, H14 Aminur Rahman House-3715 A.K.M Quamruzzaman Flat-2/2016 Md. Haider Ali House-4817 Sk. Ataul Haque Vill. & P.O18 Siddiqur Rahman Vill. & P.O19 Mahmudul Hasan 3/3, Bloc20 Ahmed Kabir Majumder Room-9,21 Eurodesh Consumer Products Ltd. 3/3, Bloc
22 Deadal Merchant Alliance Ltd. ParamounPurana Pa
23 BMSL Investment Ltd (Port Folio A/c)* 37/A (7th24 Noor Afroz Akram Block-F, H25 Md. Arif Akram Block-F, R26 Khaja Corporation 5, Moulvi27 Abdur Rouf Nistar House-62,28 Abdul Barik Biswas H # 14, R29 Bilkis Parvin Hassan Flat# 5, H30 Rafiqul Haider Chowdhry Flat-2BC,31 Saiyidah Hafsa Begum H # 09, R32 Mohammad Kamal Uddin House-1733 Badrul Hasan Al-Amin34 Morshad Chowdury Flat # G-35 Md. Shahadat Hossain Khan Eastern O
ge before and after the present issue and after conversion of convertible ins
Address Designation N
19 Sir Syed Road, Mohammadpur, Dhaka. ChairmanMission Road, Wari, Motijheel, Dhaka. MD
ra, P.O & P.S: Kalaroa, Dist. Satkhira Sponsoro. 45, Road No. 4/A, Dhanmondi R/A, Dhaka. Directorha, P.S & Dist. Satkhira. Directorha, P.S & Dist. Satkhira. Director4/A, House No. 45, Dhanmondi R/A, Dhaka. Director
sha, P.O/P.S- Satkhira Sponsor9 Sir Syed Road, Mohammadpur, Dhaka. Sponsor
a, P.O- U.A Khalia, Dist.- Gopalgong Director
Address Designation N
a, P.S: U.A Khalia, Gopalgonj. Shareholderra, P.O/P.S-Kolaroa, Dist- Satkhira ShareholderHouse-45, Dhanmondhi R/A, Dhaka Shareholder7, Road-01, Block-A, Neketon, Gulshan, Dhaka Shareholder01, Eastern Rose, Moghbazar, Dhaka Shareholder8, Flat-4/A, Road-4A, Dhanmondhi R/A, Dhak ShareholderO-Labsha, P.S & Dist -Satkhira ShareholderO-Labsha, P.S & Dist –Satkhira. Shareholderck-C, Lalmatia, Mohammadpur, Dhaka. Shareholder6, Motijheel C/A, Dhaka-1000 Shareholder
ck-C, Lalmatia, Mohammadpur, Dhaka. Shareholdernt Heights (15th floor), 65/2/1, Box Culvert Road,altan, Dhaka Shareholder
h floor), Dilkusha C/A, Dhaka-1000 ShareholderHouse- 84, Road-5, Flat-A-3, Banani, Dhaka ShareholderRoad-5, House-84, Flat-A3, Banani, Dhaka Shareholder
vi Bazar, Dhaka Shareholder, Road-3, Block-B, Nicketan Housing, Gulshan-1, Dhaka ShareholderR# 4, B# D, Bonosree Rumpura, Dhaka. ShareholderHouse# 49, R# 15A, Dhanmondi R/A, Dhaka-1209 Shareholder, House-86A, Road-11A, Dhanmondi, Dhaka ShareholderRd# 23, Block# B, Banani, Dhaka Shareholder7, Road-1/Ka, Dhakhingaon, Bashaboo, Dhaka-1214 ShareholderTower, C#12, 143, Shantinagar, Dhaka Shareholder7, Baily Ritz, 1, New Baily Road, Dhaka. Shareholder
Orchid Flat, 1/40/Circuit House Road, Dhaka Shareholder
Page | 33
struments (if any);
No. of Shares PercentagePre-IPO Pre-IPO
2,180,000 5.59% 3.69%1,400,000 3.59% 2.37%1,250,000 3.21% 2.12%1,530,000 3.92% 2.59%4,200,000 10.77% 7.12%2,260,000 5.79% 3.83%1,180,500 3.03% 2.00%
220,000 0.56% 0.37%1,260,000 3.23% 2.14%1,277,000 3.27% 2.16%
No. of Shares PercentagePre-IPO Pre-IPO
1,250,000 3.21% 2.12%200,000 0.51% 0.34%
20,000 0.05% 0.03%50,000 0.13% 0.08%40,000 0.10% 0.07%25,000 0.06% 0.04%
1,511,000 3.87% 2.56%610,000 1.56% 1.03%273,000 0.70% 0.46%
1,000 0.00% 0.00%1,500 0.00% 0.00%
1,000 0.00% 0.00%
2,283,000 5.85% 3.87%100,000 0.26% 0.17%200,000 0.51% 0.34%300,000 0.77% 0.51%
50,000 0.13% 0.08%200,000 0.51% 0.34%745,000 1.91% 1.26%110,000 0.28% 0.19%245,000 0.63% 0.42%
18,000 0.05% 0.03%200,000 0.51% 0.34%200,000 0.51% 0.34%350,000 0.90% 0.59%
36 Golam Sattar Chowdhury House-29Dhaka-12
37 Syed Jalal Ahmed North wesChittagong
38 Syed Jamal Ahmed North WAgrabad,
39 Md. Parvez Alam 3/A, Sada40 Bijan Paul 68/1, Ha41 Sohel Sattar 1542/A S42 Md. Abdus Salim Malopara43 Abu Raihan H#13, R#44 Saiful Islam 198-20245 Jashim Uddin Bhuiyan Green Pea46 Md. Anwar Habib House #47 Kutub Uddin Ahmed 283/G Ba48 BMSL Investment Limited. 37/A (7th
49 Grameen Capital Management Limited. GremeenDhaka-12
50 GCML-Investor's Account (DA)** GremeenDhaka-12
51 Tareq Ansar Ahmed 42, Al-Am52 Dr. Md. Shajahan Kabir 84/2, Ma
53 Jannatun Hasan M. HasanDhaka-12
54 Enamul Haque M/s Haqu55 AIBL Capital Management Limited 36, Dilku
56 Badiur Rahman Priyo PranDhaka.
57 Ms. Shegufta Rahman Prima Priyo PranDhaka.
58 Ms. Rukhna Rahman Tasha Priyo PranDhaka.
59 Aj-hajj Abdus samad 57/A, 1 N
60 S.M Shameem Iqbal KDS AcceChittagon
61 Ms. Runa Kashem Flat: C1,Chittagon
62 Mohammed Nasir Uddin House #Chittagon
63 Ashif Iqbal Chowdhury 802, Mon64 Rizia Halim 8-9, Shan65 Md. Tazul Islam Hazinaga66 Tanvir Mostafa 18/A, RN67 Abu Monsur Md. Syeduzzaman 496, East
96, Block-K, Road-16, South Bonasree, Khilgaon,219 Shareholder
st securities Ltd. Jiban Bima, Bhaban (2nd floor),56 Agrabad,g. Shareholder
West Shipping Line., Jiban Bima Bhaban, 2nd floor, 56,Chittagonj. Shareholder
arghat Road, Chittagonj Shareholderarbouragf drfan Sadarghat ShareholderSyed Shah Road, Bakolia, Chittagonj. Shareholdera, K. Mansion, Rajshahi-6000 Shareholder#2, Block-E, Section-12, Mirpur, Dhaka. Shareholder, Nawabpur Road, Dhaka Shareholderace, F# I/8, 41, Chamili Bag, Shantinagar Shareholder19/1, Road # 15, Dhanmondi R/A, Dhaka Shareholderangla Sarak, Rayer Bazer, Dhaka Shareholderh floor), Dilkusha C/A, Dhaka-1000 Shareholder
n Bank Complex, 1st Building (2nd floor), Mirpur-2,216 Shareholder
n Bank Complex, 1st Building (2nd floor), Mirpur-2,216 Shareholder
min Road, Kathal Bagan, Dhaka. Shareholderaradia, Khilgoan, Dhaka Shareholdern Tailors & Fabrics, Jahan Mansion, 29, Mirpur Road,205 Shareholder
ue & Sons, Santahar Road, Borogola, Bogra. Shareholderusha C/A, Dhaka. Shareholderngon, Building-A, Flat-05 06, 02, Paribagh, Shahbagh, Shareholder
ngon, Building-A, Flat-05 06, 02, Paribagh, Shahbagh, Shareholder
ngon, Building-A, Flat-05 06, 02, Paribagh, Shahbagh, Shareholder
No. Sugandda 1/A, Chakbazar, Paslaish, Chattagong. Shareholderessories Ltd. Baizid Bostami, Road, Nasirabad,ng. Shareholder
, 42 B1, ABC Bay View Road, 03, North Khulsi,ng. Shareholder
22/G (8th Floor) O.R Nizam, Road, G.E.C Circle,ng Shareholder
nipuripara, Mirpur, Dhaka. Shareholderntinagar (B4/604), Dhaka Shareholderar, Sharulia, Demra, Dhaka ShareholderNZ Roksana, West Nakhalpara, Tejgaon, Dhaka-1215 Shareholdert Goran, Khilgaon, Dhaka-1219 Shareholder
Total
Page | 34
100,000 0.26% 0.17%
500,000 1.28% 0.85%
200,000 0.51% 0.34%
6,000 0.02% 0.01%200,000 0.51% 0.34%
6,000 0.02% 0.01%2,500 0.01% 0.00%
100,000 0.26% 0.17%1,500 0.00% 0.00%1,000 0.00% 0.00%
150,000 0.38% 0.25%20,000 0.05% 0.03%
1,865,000 4.78% 3.16%
1,000,000 2.56% 1.69%
2,722,000 6.98% 4.61%
200,000 0.51% 0.34%50,000 0.13% 0.08%
75,000 0.19% 0.13%
310,000 0.79% 0.53%1,500,000 3.85% 2.54%
200,000 0.51% 0.34%
150,000 0.38% 0.25%
150,000 0.38% 0.25%
500,000 1.28% 0.85%
500,000 1.28% 0.85%
900,000 2.31% 1.53%
900,000 2.31% 1.53%
300,000 0.77% 0.51%150,000 0.38% 0.25%375,000 0.96% 0.64%
50,000 0.13% 0.08%75,000 0.19% 0.13%
39,000,000 100.00% 66.10%
*It is further certified that as per declaration of BMSL Investment Ltd., total number of Shareholders under their BMSL Investment Ltd. (Portfolio A/C) is comprised of 26
List of Investors under BMSL Investment Ltd. (Portfolio A/C), Sl. 23:
S.L No Name1 Rehanul Bari Chowdhury2 BMSL Investment Ltd.3 Mohammad Didarul Ahsan4 T.M. Mamun Kaiser5 Md. Ariful Hoque6 Afsia Aratun Nessa7 Sultana Razia8 Md. Yusuf Jamil9 Syed Imtiaz Hussain
10 Mizanur Rahman11 Md. Forhad Hossain12 Kazi Mohi Uddin13 Mohammad Taiab14 Badaruddin Ahmed15 Md. Fazla Kabir16 Labony Akter17 Kazi mainuddin Chistia18 Mortuza Mahmud Swapan19 Harun WB Chowdhury20 Alam Hossain21 Md. Mosaraf Hossain22 Md. Zafor ullah23 Masba Uddin Tipu24 Shamsul Alam25 Md. Towhidul Islam26 Shamoly Hossain Eva
**It is also certified that as per declaration of Grameen Capital Management Ltd., total number of discretionary shareholders under their
List of Investors under GCML-Investor's Account (DA), Sl. No. 50:Sl. No. Name
1 Ashraful Hasan2 Saleha Begum3 Noorjahan Begum4 Md. Ehsanul Bari5 Nazneen Sultana6 Mir. Mohammad Asiful Bari7 S.M Alamgir8 Maj. Md. Shafiqur Rahman9 Md. Khabir Uddin Ahmmed
10 Taslim Ahmed Sarker
(v) Where shares have been issued for consideration in other than cash at any point of time, details in a separate table, indicating the date of issue, issue price, consideration and valuation thereof, reasons for the issue and whether any benefits have been accrued to the issuer out of the issue;
The Company did not issue any of its ordinartime.
(vi) Where shares have been allotted in terms of any merger, amalgamation or acquisition scheme, details of such scheme and shares allotted
There was no such scheme and shares
declaration of BMSL Investment Ltd., total number of Shareholders under olio A/C) is comprised of 26 investors which is as follows:
tment Ltd. (Portfolio A/C), Sl. 23:
Account Number Try A/C Code – 8732
A/C Code – 9999hsan A/C Code – 8744
A/C Code – 8749A/C Code – 8585A/C Code – 8755A/C Code – 8756A/C Code – 8717A/C Code – 8000A/C Code – 8558A/C Code – 8181A/C Code – 8746A/C Code – 8747A/C Code – 7028A/C Code – 8762A/C Code – 8708A/C Code – 8246
pan A/C Code – 8360A/C Code – 8763A/C Code – 8767A/C Code – 8766A/C Code – 8092A/C Code – 8770A/C Code – 8772A/C Code – 7620A/C Code – 8779
Total
r declaration of Grameen Capital Management Ltd., total number of r their GCML-Investor's A/C (DA) is as follows:
stor's Account (DA), Sl. No. 50:Account Number TD. A A/c No – 09D. A A/c No – 15D. A A/c No – 17
D. A A/c No – 239D. A A/c No – 307
Bari D. A A/c No – 5101D. A A/c No – 5129
man D. A A/c No – 5621med D. A A/c No – 731
D. A A/c No – 877Total
ed for consideration in other than cash at any point of time, details in a date of issue, persons to whom those are issued, relationship with the issuer, valuation thereof, reasons for the issue and whether any benefits have been e issue;
y of its ordinary shares for consideration in other than cash at any point of
ed in terms of any merger, amalgamation or acquisition scheme, details of ed;
d shares allotted.
Page | 35
of Shareholders under lows:
Total Shareholding200,000
12,00040,000
100,00060,00020,00038,00030,000
100,000200,000
10,000200,000200,000500,000
20,00010,00050,000
100,00050,000
5,00028,00050,00050,000
150,00010,00050,000
2,283,000
Ltd., total number of
Total Shareholding3,00,0002,90,0002,80,0002,80,0002,70,0002,70,0002,60,0002,62,0002,55,0002,55,000
27,22,000
nt of time, details in a onship with the issuer, any benefits have been
an cash at any point of
ition scheme, details of
(vii) Where the issuer has issued equity shares under one or more employee stock option schemes, datedetails of equity shares issued under the schemes, including the price at which such equity shares were issued;
There has no such option.
(viii) If the issuer has made any issue of specified securities at a price lower than the issue price during the preceding two years, specific details of the names of the persons to whom such specified securities have been issued, relation with the issuer, reas
There has no such transaction.
(ix) The decision or intention, negotiation and consideration of the issuer to alter the capital structure by way of issue of specified securities in any manner within a period of opresent issue;
The Company has no such dstructure by way of issue of specified securities in any manner within a period of one year from the of listing of the present issue.
quity shares under one or more employee stock option schemes, dateunder the schemes, including the price at which such equity shares were
sue of specified securities at a price lower than the issue price during the details of the names of the persons to whom such specified securities have issuer, reasons for such issue and the price thereof;
n.
otiation and consideration of the issuer to alter the capital structure by way in any manner within a period of one year from the date of listing of the
decision or intention, negotiation and consideration to alter the capital pecified securities in any manner within a period of one year from the
Page | 36
ion schemes, date-wise uch equity shares were
issue price during the pecified securities have
apital structure by way he date of listing of the
on to alter the capital one year from the date
(x) The total shareholding of the sponsors and directors inprice, consideration, date when the shares were made fof pledged shares, if any, held by each of them;
Name Position Nature ofIssue
Date ofthe shar
Quazi AnwarulHaque Chairman Ordinary
S M Akter Kabir ManagingDirector Ordinary
Sk. Jamil Hossain Sponsor Ordinary
Quazi NazibulHaque Director Ordinary
Satkhira Feed Inds.Ltd. (Nominated byDr. S. MManiruzzaman)
Director Ordinary
n a tabular form, clearly stating the names, nature of issue, date of allotmefully paid up, percentage of the total pre and post issue capital, the lock in
Allotment, Acquisition &allres were made fully paid-up No. of shares Face Value &
Issue Price Consideration Pre IPO
08.02.01 30,000
10 Cash 5.5
30.08.03 270,00020.11.04 360,00029.04.11 100,00014.03.12 100,00006.01.13 220,00018.09.13 100,00030.03.15 10,00,000
Total 21,80,00008.02.01 10,000
10 Cash 3.5
30.08.03 90,00020.11.04 120,00029.04.11 50,00014.03.12 50,00006.01.13 410,00018.09.13 70,00030.03.15 600,000
Total 14,00,00008.02.01 10,000
10 Cash 3.2
30.08.03 170,00020.11.04 40,00029.04.11 50,00014.03.12 50,00002.01.13 60,00006.01.15 350,00018.09.13 70,00030.03.15 450,000
Total 12,50,00031.10.10 250,000
10 Cash 3.92
29.04.11 250,00014.03.12 200,00006.01.13 460,00018.09.13 70,00030.03.15 300,000
Total 15,30,00031.10.10 15,00,000
10 Cash 10.7
29.04.11 650,00006.03.12 200,00002.01.13 418,50006.01.13 81,00018.09.13 350,50030.03.15 10,00,000
Total 42,00,000
Page | 37
ent, number of shares, face value, issueperiod and the number and percentage
O % Post IPO % Lock inPeriod*
% of pledgeof shares
9 3.69 3Yrs Not pledge
9 2.37 3Yrs Not pledge
1 2.12 3Yrs Not pledge
2 2.59 3Yrs Not pledge
77 7.12 3Yrs Not pledge
Yeakin AgroProducts Ltd.(Nominated by Sk.Jamil Hossain)
Director Ordinary
Sabrina Samsad Director Ordinary
Mrs. Julia Parvin Director Ordinary
Quazi EmdadulHaque Sponsor Ordinary
Mrs. Maliha Parvin Sponsor Ordinary
29.04.11 60,000
10 Cash 5.706.03.12 500,00006.01.13 140,00018.09.13 110,00030.03.15 14,50,000
Total 22,60,00008.02.01 20,000
10 Cash 3.0
20.11.04 200,00029.04.11 100,00006.03.12 300,00014.03.12 170,50006.01.13 310,00018.09.13 80,000
Total 11,80,50010.04.12 50,000
10 Cash 3.206.01.13 414,50018.09.13 212,50030.03.15 600,000
Total 12,77,00008.02.01 10,000
10 Cash 0.530.08.03 90,00020.11.04 120,000
Total 220,00008.02.01 20,000
10 Cash 3.2
30.08.03 180,00020.11.04 240,00029.04.11 200,00002.01.13 70,00006.01.13 50,00018.09.13 100,00030.03.15 4,00,000
Total 12,60,000
Page | 38
9 3.83 3Yrs Not pledge
3 2.00 3Yrs Not pledge
7 2.16 3Yrs Not pledge
6 0.37 3Yrs Not pledge
3 2.14 3Yrs Not pledge
(xi) The details of the aggregate shareholding of the sponsors and directors, the aggregate number of specified securities purchased or sold or otherwise and their related parties within six months immediate preceding the date of filing the prospectus;
Aggregate shareholding of the sponsors and directors
Sl. No
Name of Director &
Sponsor
1 Quazi Anwarul Haque
2 S.M Akter Kabir
3 Sk. Jamil Hossain4 Quazi Nazibul Haque5 Satkhira Feed Inds. Ltd6 Yeakin Agro Products Ltd.7 Mrs. Sabrina Samsad8 Quazi Emdadul Haque9 Mrs. Maliha Parvin
10 Mrs. Julia Parvin
Purchased or sold or otherwise transferred by the sponsor and/or by the directors of the issuer and their related parties: The prospectus was filing on Hence, the following shares are transferred within six months immediate preceding thprospectus:
Transferor
Name No. of Share
Yeakin Agro Products Limited 690,000
(xii) The name and address of any person who owns, beneficially or of record, 5% or more the issuer, indicating the amount of securities owned, whether they are owned beneficially or of record, and the percentage of the securities represented by such ownership including number of equity shares which they would be entitled instrument;
Sl. No
Name of the Share Holders
1 Quazi Anwarul Haque
2 Satkhira Feed Inds. Ltd
3 Yeakin Agro Products Ltd.
4 BMSL Investment Ltd (Port Folio A/C)
5 GCML-Investor's Account (DA)
(xiii) The number of securities of the issuer owned by each of officers or employees as group, indicating the percentage of outstanding shares represented by the securities owned.
There is no employee in Yeakin Polymer Limited who holds any shares of the CompanyAnwarul Haque, Chairman (Internal Marketing & ProcurManaging Director who holds
areholding of the sponsors and directors, the aggregate number of specified r otherwise transferred by the sponsor and/or by the directors of the issuer n six months immediate preceding the date of filing the prospectus;
sponsors and directors:
DesignationNo. of
Ordinary Share
Face Value
&Issue Price
Date of acquisition
Chairman 2,180,000 10.00 8-Feb-01Managing Director 1,400,000 10.00 8-Feb-01
Sponsor 1,250,000 10.00 8-Feb-01Director 1,530,000 10.00 31-Oct-10Director 4,200,000 10.00 31-Oct-10
d. Director 2,260,000 10.00 31-Oct-10Director 1,180,500 10.00 8-Feb-01Sponsor 220,000 10.00 8-Feb-01Sponsor 1,260,000 10.00 8-Feb-01Director 1,277,000 10.00 10-Apr-12
e transferred by the sponsor and/or by the directors of the issuer and their
February 09, 2016 to Bangladesh Securities and Ere transferred within six months immediate preceding th
Date TransfereeShare Name
,000 13-Aug-2015
Md. Tazul IslamTanvir MostafaAbu Monsur Md SyeduzzamanQuazi Nazibul HaqueSk. Ataul Haque
Total
person who owns, beneficially or of record, 5% or more unt of securities owned, whether they are owned beneficially or of record, urities represented by such ownership including number of equity shares
to upon exercise of warrant, option or right to convert any convertible
Address Position NShares
3/A, 13/19 Sir Syed Road, Mohammadpur, Dhaka. Chairman 2,180,000
Vill: Labsha, P.S & Dist. Satkhira. Director 4,200,000
Vill: Labsha, P.S & Dist. Satkhira. Director 2,260,000
37/A (7th Floor), Dilkusha C/A, Dhaka-1000 Shareholder 2,283,000
Gremeen Bank Complex, 1st Building (2nd Floor), Mirpur-2, Dhaka-1216
Shareholder 2,722,000
the issuer owned by each of the top ten salaried officers, and all other oup, indicating the percentage of outstanding shares represented by the
kin Polymer Limited who holds any shares of the Company(Internal Marketing & Procurement Director) and S.M Akter Kabir,
s 5.59 %&3.59% % (Pre-IPO) respectively of total share of the company
Page | 39
ate number of specified e directors of the issuer he prospectus;
n
Percentage
Pre-IPO Post-IPO
5.59% 3.69%
3.59% 2.37%
3.21% 2.12%0 3.92% 2.59%0 10.77% 7.12%0 5.79% 3.83%
3.03% 2.00%0.56% 0.37%3.23% 2.14%
2 3.27% 2.16%
of the issuer and their
Exchange Commission. ng the date of filing the
eeNo. of Share
375,00050,00075,000
150,00040,000
690,000
more of the securities of neficially or of record,
umber of equity shares onvert any convertible
No. of hares
% of shareholding
80,000 5.59%
00,000 10.77%
60,000 5.79%
83,000 5.85%
722,000 6.98%
officers, and all other res represented by the
Company except Quazi and S.M Akter Kabir, are of the company.
(d) Description of Business:
The date on which the issuer company wasand the nature of the business which the company and its subsidiaries are engaged in or propose to engage in;
Yeakin Polymer Limited (former Yeakin Business Limited) was incorporated in Bangladesh on 8th February, 2001 as a Public Limited Company. The Company on 10th November, 2003 and again it was re15thMay, 2012. The Name ofLimited to Yeakin Polymer Limited.
The registeredoffice of the comManhattan Tower (6th Floor) Malibagh, DhakaSatkhira, Khulna in the southwest region of Bangladesh and our local office located at House#291, Road: Sonadanga, R/A (2
The Company obtained commencement certificate on 8operation on 15thJuly, 2003.
Yeakin Polymer Limited incorporated as a public limited company on 8commercial operation after two years of inception. In the meantime, the Company land and getting permission from local authority for construction of factory building & connection of REB. Then it took time to finish construction oon all the machineries installed in the factory premises. prepare the work force for the commercial operation of the Company.
The principal activities of the company are to carry on the business of manufacturing and marketing (local & export) of PP woven regular bags [laminated & unbag, Jumbo/FIBC bag and HDPE/LDPE liner in different
The Company has no subsidiaries.
(ii) Location of the project;
Its factory location is at Labsha, Satkhira
(iii) Plant, machinery, technology, process, etc.
The Company has been using Extrusion Technology. Plastics extrusion is a highprocess in which raw plastic is melted and formed. Market has been growing up and good opportunity to maximize market share.
(iv) Details of the major events inlaunching of plant, products, marketing, change in ownership and/or key management personnel etc;
a. Related to formation of the company
� Incorporated on 08Act 1994, under the Registrar of Joint Stock Companies & Firms of Bangladesh.
� Converted to private� Re-converted to public limited company 15� Commercial operation start
b. Capacity/facility creation, launchin
� Installed capacity 5.90 Crore Pcs bags in 2014
� The Company obtained ISO Certificate 14001:ISO Certificate 9001:2008
� YPL started to e
c. Change in ownership and/or key management personnel
� The company started with 7 � Md. Rezaul Islam Chowdhury
the shares. � Founder Chairman � Managing Director is holding the position from the inception.
ompany was incorporated and the date on which it commenced operations ss which the company and its subsidiaries are engaged in or propose to
mer Yeakin Business Limited) was incorporated in Bangladesh on 8th Limited Company. The company was converted into a Private Limited , 2003 and again it was re-converted into a Public Limited Company the Company was changed on 15th December, 2010 from Yeakiited.
mpany is located in a rented premises at 83, SiddhMalibagh, Dhaka-1217. Our manufacturing unit is situated at La
west region of Bangladesh and our local office located ga, R/A (2nd Phase), Khulna-9000.
mencement certificate on 8thFebruary, 2001 and started its commercial
porated as a public limited company on 8thFebruary, 2001 and startwo years of inception. In the meantime, the Company from local authority for construction of factory building & connection of h construction of factory building and office administration building. Later d in the factory premises. Rest of the time spent to collect raw materials and commercial operation of the Company.
company are to carry on the business of manufacturing and marketing egular bags [laminated & un-laminated], BOPP film/Sack kraft paper attach PE/LDPE liner in different size, color, denier, mash.
ries.
a, Satkhira, Bangladesh.
process, etc.
Extrusion Technology. Plastics extrusion is a high-vis melted and formed. Market has been growing up and market share.
n the history of the issuer, including details of capacity/facility creation, marketing, change in ownership and/or key management personnel etc;
ion of the company:
n 08thFebruary, 2001 as a Public Limited Company under the Companies er the Registrar of Joint Stock Companies & Firms of Bangladesh.rivate limited company 10thNovember, 2003 o public limited company 15thMay, 2012 peration started on 15thJuly, 2003.
creation, launching of plant, products, marketing:
ity 5.90 Crore pcs. of different types of bag and Actual production in 2014-2015. obtained ISO Certificate 14001:2004 on environment management and 9001:2008 on quality management from Bureau of Assessment Services
export to France from 25th January, 2016.
ship and/or key management personnel
tarted with 7 sponsors. am Chowdhury& Engg. Quazi Shafiqul Haque have tran
man Quazi Anwarul Haque is also chairman till today.ector is holding the position from the inception.
Page | 40
commenced operations gaged in or propose to
in Bangladesh on 8th into a Private Limited c Limited Company on 0 from Yeakin Business
heswari Circular Road, is situated at Labsha,
ed in a rented premises
started its commercial
y, 2001 and started its y spent time to acquire ilding & connection of stration building. Later llect raw materials and
cturing and marketing Sack kraft paper attach
volume manufacturing and the Company has
pacity/facility creation, ment personnel etc;
y under the Companies Bangladesh.
Actual production 4.19
ment management and Assessment Services
transferred their all of
y.
� Siddiqur Rahman12-2014 and 1
� The Company r
(v) Principal products or services of the issuer and markets for future prospects regarding exports (if applicable) and local market, demand and supply forecasts for the sector in which the product is included with source of data;
The principal activities of the company are to carry on the business of manufacturing and marketing (local & export) of PP woven regular bags [laminated & unJumbo/FIBC bag and HDPE/LDPE liner in differentmainly sells its products in local market.Mentionable here that, Yeakin Polymer Limited does maize, fertilizer and wheat.
Past Trends:
Year
30.06.201530.06.201430.06.201330.06.201230.06.2011
Future Prospects:
Now Plastic products is occupying in world market is very little day. In 2011-2012 export was in this sector 65.76 million US Dollar but in 2014million US Dollar growth were 17.35%.(Source AnManufacturers & Exports Association). exports PP oven Bag. So there are future prospects in this sector
(vi) If the issuer has more than one product or service that accounts for more than 10% of the company’s total revenues;
The Company produces a single product named PP Woven Bag in different size and grade. Therefore, information is not applicable for the company.
(vii) Description of associates, subsidiary and holding company of the issuer and core areas of business thereof;
Yeakin Polymer Limited has no associates, subsidiary
(viii) How the products or services are distributed with details of the distribution channel. Export possibilitieand export obligations;
On receiving the orders from its customers, YPL manufactures the producdestination as per their requirements. Moreover, the Company maintains stocks for quick delivery to customer. The major customers are BRAC Feed Mills Ltd., Uttara Food Ltd., Aftab Feed Products Ltd., Rubel & Brothers, Roshied Agro and Satdirectly to the customers.
an and Khandaker Abdul Mabud have been appointed respectively 0-02-2016 as Independent Director.
raised capital 15 Crorein cash consideration on 30.03.2015.
of the issuer and markets for such products or services. Past trends and orts (if applicable) and local market, demand and supply forecasts for the ncluded with source of data;
ompany are to carry on the business of manufacturing and marketing (local bags [laminated & un-laminated], BOPP film/Sack K
DPE liner in different size, color, denier, mash. Yeakin Polymer Limited cal market.Besides the Company has started to export to France in 2016
Polymer Limited does not manufacture any bags for rice, paddy, sugar,
Local SalesAmount in Taka
419,920,083316,742,010223,921,340151,270,156148,427,415
ing in world market is very little percentage. But its export increase day by in this sector 65.76 million US Dollar but in 2014
re 17.35%.(Source Annual Report 2014-2015 Bangladesh Plastic Goods ociation). Moreover recently government has declared 10% incentive on re future prospects in this sector.
e product or service, the relative contribution to sales and income of each ts for more than 10% of the company’s total revenues;
le product named PP Woven Bag in different size and grade. Therefore, or the company.
bsidiary and holding company of the issuer and core areas of business
no associates, subsidiary and holding company.
are distributed with details of the distribution channel. Export possibilitie
its customers, YPL manufactures the products and supply uirements. Moreover, the Company maintains stocks for quick delivery to
ers are BRAC Feed Mills Ltd., Uttara Food Ltd., Aftab Feed Products Ltd., gro and Satkhira Feed Industries Limited. The Company sales its product
Page | 41
ted respectively on 30-
3.2015.
rvices. Past trends and upply forecasts for the
g and marketing (local Kraft paper attach bag, eakin Polymer Limited ort to France in 2016.for rice, paddy, sugar,
export increase day by -2015 it stood 100.57
ngladesh Plastic Goods red 10% incentive on
es and income of each s;
d grade. Therefore, the
core areas of business
nel. Export possibilities
upply to the customers’ s for quick delivery to tab Feed Products Ltd., pany sales its products
PROCESS DIAGRAM-01 (PP Woven sacks/BAG, Liner inserted
POLY PROPYLENE (P.P/HDPE)CALCIUM CARBONATE/MASTER BATCH
FLAT YARNMAKING MACHINE
CIRCULAR LOOM
WPP TUBULAR FABRIC
serted PP woven bag & jumbo bag) RAW MATERIAL
YLENE (P.P/HDPE)ONATE/MASTER BATCH
PP FLAT YARN
RECYCLING MACHINE (FOR WASTAGE RECYCLE)
HDPE / LDPE LINERMACHINE
CUTTING
INSERTION
PRINTING
HDPE / LDPE /LLDPECALCIUM
Page | 42
TION
SEWING
BAILING
DELIVERY
NG
DPE / LDPE /LLDPEM CARBONATE/MASTER
BATCH
PROCESS DIAGRAM-02
(RE-USABLE/RE- CYCLE SHOPPING
WPP FABRIC
WINDER & UNWINDER & THIRMAL CUTTER FOR TUBE OPEN & ROLL PREPARATION
SEWING MACHINEFOR SIDE SEWING
LAMINATION M/C
BAG/SACK)
RAW MATERIAL
Printed BOPP Film LAMINATION RESIN (PP/PE)
LAMINATION MACHINE
LAMINATED BOPP Attach in roll
CUTTING MACHINE(FOR SIZING)
DELIVERY IN ROLL FORM
PRINTING MACHINE
DELIVERY IN SIZE WISE
DELIVERY IN PRINTED SIZE WISE
WING MACHINEOR SIDE SEWING
DELIVERY IN SIDESEWING
WPP WEASTAGE TO RE-CYCLING
MACHINE
Page | 43
P Film IN (PP/PE)
MACHINE
SE
GE NG
PROCESS DIAGRAM-03 (Liner for Garbage Bag/Garments Poly Bag &
The Company has started to exporthave any export obligation rather there is
(ix) Competitive conditions in business with names, competitors;
YPL has a number of competitors and these
SL1 United Fiber Industries Ltd.2 Sino Bangla Industries Ltd. 3 Miracle Industries Ltd.4 Shovon Woven Bag Manufacturing Co. Ltd.5 Desh Bondhu Polymer Ltd.6 Khan Brothers PP woven Bag Ind. Ltd.7 Madina Poly Fibre Ltd.8 Paragoan Plast Fibre Ltd.9 Ideal Fibre Industries Ltd.
10 Akiz Poly Fibre Ind. Ltd.
There is no market data in respect
Poly Bag & Jumbo bag)
t.First export has been started from January 25, 2016here is good potential of expansion of export.
usiness with names, percentage and volume of market shares of major
mpetitors and these are as follows:
Namees Ltd.s Ltd.
d.Manufacturing Co. Ltd.
r Ltd.ven Bag Ind. Ltd.d.Ltd.Ltd.td.
pect of percentage and volume of market shares of major competitors.
RAW MATERIAL
HDPE / LDPE /LLDPEFILLER
FILM IN TUBE
DELIVERY
CUTTING
HEAT SEALING
BAILING
Page | 44
16 to France. We don’t
arket shares of major
ajor competitors.
(x) Sources and availability of raw materials, names and plan in case of any disruption;
Main raw materials of the YPL’Ink, Thinner and chemicals, which the company procures from overseas trusted suppliers of its materials and chemicals. List of leading suppliers is as follows:
SL Name of Principal Suppliers
1 Formosa Plastics Corporation
2 IRPC Public Company Limited
3 Advanced Petrochemical Company (APC)
4 Domo Chemical Asia Limited
5 SCG Plastics Company Ltd.
6 OCI Corporation
7 GS Global
8 S.Y Traders
9 Gias Enterprise
10 Tanvir Plastic Center
11 Nahid Enterprise
12 S R Impex Co
13 S S Chemical14 Q. B Enterprise
15 Chisty PVC
16 Century Plastic
17 Golden Plastic Ind.
18 M/S. Nahar Packaging Industry
19 Kalpena Industries Ltd.
20 HNN Plastic Compounds Joint Stock Company
21 HN Platec Co Ltd.
22 Vyankatesh Ydyog
23 Decent Trade Enterprise
24 Danish Industries (Pvt). Limited
25 Royal Industries Limited
26 Chowdhury Commercial Agency
27 Khandaker Enterprise
28 Omega Plasto Compounds Pvt. Ltd.
29 Shahida Enterprise
We have been collecting our raw materials suppliers. Supplier’s countries areArabia. So, we have already contingency plan
materials, names and addresses of the principal suppliers and contingency
’s product are TPMC in form of PP, HDPE, LDPE, LLDPE, Caco3 and Filler, hich the company procures from overseas market. The company has some s and chemicals. List of leading suppliers is as follows:
Name of Raw Materials Address
P.P. Yarn 201, Tung Hwa North Road, Taipai Taiwan
P.P. Yarn /Lamination
555/2, Energy Complex, Building B, 6Floor Vibhavadi Rangsit Road, Chatuchak, Bankok, Thailand
P.P Yarn P.O Box, 11022, Jubail Industrial City 31961, K.S.A
P.P. Yarn Room 1003, 10/F, Boss Commercial Centre 28, Ferry Street, Kowloon, Kong
P.P. Yarn/Lamination
SCG Plastics Company Limited Performance Chemicals Company Limited, 1 Siam Cement Road, Bangsue, Bangkok, 10800 Thailand.
P.P. Yarn 16th Ferrum Tower, 66 Suha-DGu, Seoul, Korea.
P.P. Yarn/Lamination
GS Tower 508, Nonhyeon-Ro, GangnamGu, Seoul, Korea
P.P. Yarn/HDPE/LDPE
Chacarara, Medical More, Mowna, Sreepur, Gazipur
P.P. Yarn/HDPE/LDPE
40, Moulana Mufti Din Mohammad Sarak, Lalbagh
P.P. Yarn 46/47, KB Rudro Road, Chandnighat, Dhaka-1211
P.P/HDPE 37/2, K.B Ruddra Road, Lalbagh, DhakaP.P/HDPE/Sewing Yarn 188/2 Water Works Road, Dhaka
P.P/HDPE 18/1, Armanian Street, Arminatola, DhakaP.P/HDPE 11/1, Haider Box Lane, Urda Road
Filler / caco3 House # 06, Road # 02, Sector # 11, Uttara Dhaka
Filler / caco3 153/1 Water Works Road, ChawkDhaka-1211
P.P/ HDPE 153/1-A Water Works Road, ChawkBazar, Dhaka-1211
HDPE 33, Hosni Dalan Road, Bakshi Bazar, Lalbagh
Calcium Carbonate (Caco3)
2B, Pretoria Street, Kolkata - 700 071No 1, Thuy Van Industrial Zonew, Thuy Van Village, Vietri City, Tho ProvinceVietnamRoom 702, 10-4 Sam Heung Building, Buk Chang Dong, Chunf Gu Seoul, Soueth Korea
Ink and Thinner Vyankatesh Udyog (I) Pvt Ltd.M-12/1,2,3 Hingna Midc, Nagpur
Ink and Thinner 3/2, Ishwar Chandra Ghosh Street, Dhaka -1100
Ink and Thinner 133/134, Begun Bari, Tejgaon 1/A, Dhaka-1208
Ink and Thinner 7/B, Ring Tower, Ring Road, Probal Housing, 32-35, 7th Floor, Mohammadpur Dhaka-1207
Ink and Thinner 374, Elephant Road, Dhaka-1205
Ink and Thinner 19, J N Shaha Road, Lalbagh DhakaAdditives Polycom /CMB)
287 & 288, GIDC Manjusar, Tal.: Savli, Dist.: Vadodara, Gujarat, (India)
CMB 369/1, Gulbagh, Malibagh, Dfhaka
r raw materials from different suppliers from local and international are India, South Korea, Vietnam, Thailand, Hong Kong, Taiwan, and Saudi ntingency plan in there in case of any disruption.
Page | 45
pliers and contingency
LDPE, Caco3 and Filler, The company has some s:
Country of origin
pai Taiwan Taiwan
ding B, 6th
Chatuchak, Thailand
ustrial City Saudi Arabia
ommercial oon, Hong Hong Kong
ed / SCG ny Limited, , Bangkok, Thailand
ong, Jung- South Korea
Gangnam- South Korea
Mowna, Bangladesh
mad Sarak, Bangladesh
andnighat, Bangladesh
, Dhaka Bangladesh
ka Bangladesh
ola, Dhaka Bangladeshad Bangladesh
ctor # 11, Bangladesh
awk-Bazar, Bangladesh
d, Chawk- Bangladesh
shi Bazar, Bangladesh
0 071 Indianew, Thuy vince Vietnam
ilding, Buk ul, Soueth Soueth
Korea
India pur - 16eet, Dhaka Bangladesh
aon 1/A, Bangladesh
ad, Probal ammadpur Bangladesh
5 Bangladesh
aka-1211 BangladeshTal.: Savli, India
aka-1217 Bangladesh
ocal and international ong, Taiwan, and Saudi
(xi) Sources of, and requirement for, power, gas and water; or any other utilities and contingency plan in case of any disruption;
Power:
At present total requirement of power is connected with Sathkhira Pally Biddut Samity and one diesel generator capacity 550. Company has another two dinstallation of additional new machineries under proposed IPO fund total powe2000 KVA. For fulfill the total requirement another 1500KVA substation will be procured connected with Rural Electrification Board (REB) line which is mentioned in the IPO proceed.
Water:
The project requires 5,000 litter of wat
GAS:
This project does not need gas for its production line
Contingency plan in case of any disruption.
The Company has two diesel generators as standbypower disruption.
(xii) Names, address(s), telephone number, web address, e
account for 10% or more of the company’s products
The company has no customers who are
(xiii) Names, address(s), telephone number, web address, ethe issuerpurchases 10% or more of its raw material/thereof;
The company has no suppliers from whom
(xiv) Description of any contract which the issuer has with itsprincipal suppliers or customers showing the total amountand quantity of transaction for which the contract is madeand the duration of the contract. If there is not any of suchcontractsChairman on behalf of Board ofDirectors;
The company has not entered into any contract with any of its suppliers or customers.
This is to certify that Yeakin Polsuppliers or customers.
Sd/-ABM Mahmudul HasanChief Financial Officer
or, power, gas and water; or any other utilities and contingency plan in case
of power is 950 KVA which is fulfill by existing 400 KVA lly Biddut Samity and one diesel generator capacity 550. diesel generator as standby with the total capacity of 510
machineries under proposed IPO fund total powerequirement another 1500KVA substation will be procured connected with B) line which is mentioned in the IPO proceed.
er of water per day which is met up from own deep tube
for its production line.
ny disruption.
generators as standby with the total capacity of 510
e number, web address, e-mail and fax number of the customers who he company’s products/services with amount and percentage thereof;
rs who are purchasingthe company’s products 10% o
number, web address, e-mailand fax number of the suppliers from whom r more of its raw material/finished goodswith amount and percentage
s from whom it purchases 10% or more of its raw material/finished goods.
which the issuer has with itsprincipal suppliers or customers showing the transaction for which the contract is madeand the duration of the contract. ntracts, a declaration is to be disclosed duly signed byCEO/MD, CFO and ofDirectors;
into any contract with any of its suppliers or customers.
Declaration
Yeakin Polymer Limited does not have any contract with its
Sd/-S M Akter Kabir
Managing Director
Page | 46
ontingency plan in case
g 400 KVA substation ity 550. Besides, the ty of 510 KVA. After er requirement will be ocured connected with
ube-well.
0 KVA in case of any
of the customers who ercentage thereof;
or more.
e suppliers from whom mount and percentage
aterial/finished goods.
customers showing the uration of the contract. byCEO/MD, CFO and
mers.
ract with its principal
Sd/-Quazi Anwarul Haque
ChairmanOn behalf of board
(xv) Description of licenses, registrations, NOC and permissionsobtained by the issuer with issue, renewal and expiry dates;
Sl. No. Particulars
01 Trade License DC
02 TIN Certificate NR
03 VAT Reg. No. CCK
04 Export Registration Certificate (ERC) C
EB05 Import Registration
Certificate (IRC)
06 BPGMEA BGE
07 Fire License Ba
08 BOI License BB
09 Environment Clearance Certificate
DE
10 Trade License from local authority
LS
11 Factory License D
12 ISO 14001: 2004 BS
13 ISO 9001: 2008 BS
(xvi) Description of any material patents, trademarks, licenses orroyalty
The Company neither obtained any party.
(xvii) Number of total employees and number of full
Part/Full Time
Part time employeesFull time employee
Grand Total
(xviii) A brief description of business strategy;
Brief Description of Business strategyYPL’s key strategic objectives are to:
� The Company has made efforts to diversify its products different type of bags (i.e. reusable fashionable shopping bag, Leno Bag and tarpaulincommodities for our existing and potential customers;
� Maintain state-of-the-art manufacturing facilities for ensuring best quality products to the customers;
� The Company obtained wor(environment management) and proven effective;
� The company has given full emphasis to export the products in Europe, America, Africa and others country.
� Comprehensive marketing and distribution network (Both in domestic and international markets)� Seek new ways of working to improve efficiency and ensure sustainability.� Ensure stable and long-term return to our investors;
rations, NOC and permissionsobtained by the issuer with issue, renewal and
License Issuer/Issuing Authority
Certificate / License No. Issue Date
Dhaka South City Corporation 0103849 14.08.2013
National Board of Revenue 844035540611 27.03.2014
Customs, Excise & VAT Commissionerate, Khulna
15071023377 09.03.2014
Controller of Import & Export, Government of Bangladesh
R 0094487 17.01.2012
M 132366 16.03.2003
Bangladesh Plastic Goods Manufacturers &Exporters Association
103 10.12.2015
Bangladesh Fire Services and Civil Defense
Khulna/3462/04-05 18.10.2011
Board of Investment Bangladesh L-39010106247-H 03.07.2013
Department of Environment 2186/2008 19.08.2014
Labsha Union Parishad, Satkhira 26 03.09.2015
Department of Factory 365/Khulna 16.09.2015Bureau of Assessment Services AE-BAS-E0001798 28.07.2013
Bureau of Assessment Services AE-BAS-Q0001797 28.07.2013
atents, trademarks, licenses orroyalty agreements;
ny Patent Right/Trademarks nor signed any royalty agreement with any
nd number of full-timeemployees; As per accounts 2014
Number of EmployeesHead Office Factory
- 5127 15927 210
ess strategy;
gy:
efforts to diversify its products different type of bags (i.e. pping bag, Leno Bag and tarpaulin,etc.) with color and size for different ng and potential customers;
t manufacturing facilities for ensuring best quality products to the
orld class accreditation by proper execution of ISO Certificate 14001:nt) and ISO Certificate 9001:2008 (quality management)
ull emphasis to export the products in Europe, America, Africa and others
g and distribution network (Both in domestic and international markets)g to improve efficiency and ensure sustainability.rm return to our investors;
Page | 47
with issue, renewal and
Date Validity/Current Status
.2013 30.06.2016
.2014 N/A
.2014 N/A
.2012 30.06.2016
.2003 30.06.2016
.2015 31.12.2016
.2011 30.06.2016
.2013 N/A
.2014 08.06.2016
.2015 30.06.2016
.2015 30.06.2017
.2013 27.07.2016
.2013 27.07.2016
y agreement with any
per accounts 2014-15
esTotal51
186237
bags (i.e. recyclable & and size for different
ality products to the
Certificate 14001:2004 ment) standardthat are
rica, Africa and others
ernational markets)
(xix) A table containing the existing installed capacities for eachproduct or service, capacity utilization for these products orservices in the previous years, projected capacities forexisting as well as proposed products or services and theassumptions for future capacity utilization for the next threeyears in respect of existing as well as proposed products orservices. If the projeactual average capacity utilization,
Existing capacity utilization: Sl. No
Name of Product
30.06.2015Installed Capacity
Actual Production
1Different types of
Bags
5.90 Crore
Pcs
4.19 Crore Pcs
Projected capacity utilization: Sl. No
Name of Product
30.06.2018Installed Capacity
ProjectedProduction
1Different types of
Bags
9.08 Crore
Pcs
6.81 Crore Pcs
Capacity is calculated considering 320 days per year, 3 shifts per day and 8 hours per shift.
We have projected that the capacity utilization will be increaseand market share of the company is increasing. More over now the Hence, the management of the Company
(e) Description of Property:
Contain the following information inrespect of properties of the issuer namely:
Particulars
Land & Land DevelopmentFactory BuildingPlant & MachineryOffice EquipmentFurniture & FixtureVehicles
Total
(i) Location and area of the land, building, principal plants andother property of the company and the condition thereof;
The entire above mentioned aCircular Road, Manhattan Tower (6premises atHouse#291, Road: Sonadanga, R/A (2Satkhira, adjacent to Dhaka–Jessore
Sl. No. Particulars
01 Land
02 Building
03 Principal plants and Machineries
04 Office equipment
05 Furniture & Fixture
06 Vehicles
ng installed capacities for eachproduct or service, capacity utilization for the previous years, projected capacities forexisting as well as proposed
ssumptions for future capacity utilization for the next threeyears in respect d products orservices. If the projected capacity utilization is higher thanthe ation, rationale to achievethe projected levels.
30.06.2014Utilization
(%) Installed Capacity
Actual Production
Utilization (%)
Installed Capacity
71.03% 5.90 Crore
Pcs
3.54 Crore Pcs 60.05% 2.46Crore
Pcs
30.06.2017Utilization
(%) Installed Capacity
ProjectedProduction
Utilization (%)
Installed Capacity
75.00% 9.08 Crore
Pcs
6.81 Crore Pcs 75.00%
8.02 Crore
Pcs
320 days per year, 3 shifts per day and 8 hours per shift.
ty utilization will be increased. As the total market is increased day by day is increasing. More over now the Company is strating to
mpany thinks that the projected capacity is reasonable.
tion inrespect of properties of the issuer namely: -(As per Audited Accounts as of 30 June, 2015
sDown Value
as at30-06-2015
Taka
d, building, principal plants andother property of the company and the
assets is located in a rented premises at registered oower (6thFloor), Malibagh, Dhaka-1217, local office
Sonadanga, R/A (2nd Phase), Khulna-9000and factory premisesssore – Satkhira high way.Details are given under as follows:
Location and Area Condition of the Property
Labsha, Satkhira, Factory Area Position hold by the company
Labsha, Satkhira, Factory Area Factory shed are good condition, construction work of Dormitory
and Guest House are ru
Labsha, Satkhira, Factory Area Working in good condition
At Factory, registered office addressand local office Good condition
At Factory, registered office addressand local office Good condition
Labsha, Satkhira, Factory Area
Page | 48
capacity utilization for g as well as proposed xt threeyears in respect ation is higher thanthe
30.06.2013Actual
ProductionUtilization
(%)
e 2.20Crore Pcs 89.43%
30.06.2016
yProjected
ProductionUtilization
(%)
6.01 Crore Pcs 75.00%
hift.
s increased day by day g to export its product. e.
nts as of 30 June, 2015)lue
01551,569,984
117,583,881133,305,297
1,608,4154,449,674
234,804308,752,054
the company and the
office: 83, Siddheswari ce located in a rented tory premises: Labsha, follows:
on of the Property
hold by the company ed are good condition, on work of Dormitory t House are running
g in good condition
ood condition
ood condition
Running
(ii) Whether the property is owned by the company or taken onlease;
All the assets of the Company are in its own name.
(iii) Dates of purchase, last payment date ofother costsincluding details of land development cost, if any andcurrent use thereof;
Deed No.
Dates of purchase
Mutation date
5900/01 5901/01 3405/02
07.09.2001 07.09.2001 27.04.2002
14.04.2012
378 13.01.208 15.12.2013
2531 20.03.2002 05.08.2013
Total
Grand Total
Advance against land:
YPL has given advance of Tk. 1,605,000.00 (Note # Satkhira adjacent with factory premisesthe seller named Sheikh Maruf Hossain and Yeakin Polymer Limited which is made on expired on 31.12.2015 and after expired the said registered baina nama which is made on
(iv) The names of the persons from whom the lands has beenthe cost ofacquisition and relation, if any,
Names of the persons from whom the lands have been acquired
1. Abdul Halim2. Fazila Khatun 3. Farida Khatun 4. Firoza Khatun 5. Magfura Khatun 6. Sk Shirin Ahmed 7. Sk. Shadik Ahmed 8. Sk. Siraj Ahmed 9. Marjia Begum 10. Sabiha Khatun 11. Jakia Begum 1. Md. Abul Kashem2. Md. Abul Hosen 3. Md. Khalilur Rahman4. Md. Abdur Razzak 5. Ms. Anwara Khatun 6. Ms. Saida Khatun 7. Ms. Sahida Khatun 8. Md. Abdul Mannan Daptory9. Md. Abdul Hakim 10. Md. Nurul Islam 11. Md. Anwar Islam 12. Ms. Sazeda Khatun 1. Sk. Maruf Hossain
Lands to be acquired:
d by the company or taken onlease;
are in its own name.
nt date of current rent (LvRbv)and mutation date of lands, deed value and land development cost, if any andcurrent use thereof;
Last payment date of
current rent (LvRbv)
R. S Dag No.
Deed Value
Land development &Other Cost (
02.04.2015 190 195
375,000 225,000
50,00045,831,745
02.04.2015 171177 176
400,000 2,352,225
16.04.2015
192 168 169 191
20,000 2,316,014
1,070,000 50,499,984
d Total 5,15,69,984
05,000.00 (Note # 9) against 42.00 decimals of land located in mises (Excluding above list of property). A registered Baina Nama between
Hossain and Yeakin Polymer Limited which is made on expired the said registered baina nama, the company has am
ade on 08.03.2016 and its validity will be expired on 31.12.2016.
m whom the lands has beenacquired/proposed to be acquired along with tion, if any, of such persons to the issueror any sponsor or director thereof;
m the lands have Cost of acquisition
6,50,000 There is no relation of sof land to the issuer or any sponsor or director thereof;
Daptory
400,000
250,000
Page | 49
f lands, deed value and f;
Area of Land
(Decimal)Current Use
251.00
Factory Building,
Dormitory, Guest House,
Administrative Building, pond and developed open field
13.625 Developed open field
12.083
Connecting Road to
Factory & developed open field
276.708
and located in Labsha, d Baina Nama between de on 12.07.2015 and pany has amended the 31.12.2016.
be acquired along with or or director thereof;
Relation
is no relation of seller d to the issuer or any or or director thereof;
Do
Do
Names of the persons from whom the lands to be acquired
Sk. Maruf Hossain
(v) Details of whether the issuer has received all the approvalspertaining to
The Company has received all Union Parishad, Satkhira.
(vi) If the property is owned by the issuer, whether there is amortgage or other type of charge on the property, with nameof the mortgagee;
Out of 276.708 decimals 251.00 decimals of land, Factory Building and Plant, Machinery & Equipment of the Company are mortgaged to Islami Bank Bangladesh Limited, Satkhira Branch.
Name of Mortgagee
Islami Bank Bangladesh Limited, Satkhira Branch.
(vii) If the property is taken on lease, the expiration dates of thelease with name of the lessor, principal terms and conditionsof the lease agreements and details of payment;
No Property is taken by the Company
m the lands to be Expected cost ofacquisition 1,905,000
(Advance already paid 1,605,000)
There is no relation of sof land to the issuer or any sponsor or director thereof;
as received all the approvalspertaining to use of the land, if required;
ll the approvals of master plan of the factory premises
the issuer, whether there is amortgage or other type of charge on the rtgagee;
.00 decimals of land, Factory Building and Plant, Machinery & Equipment d to Islami Bank Bangladesh Limited, Satkhira Branch.
Deed No. Date Description of Land/Plot No.
ted, 5900/015901/01 3405/02
18.07.2010 At Labsha, Satkhira, Factory Area
se, the expiration dates of thelease with name of the lessor, principal terms eements and details of payment;
mpany under lease agreement.
Page | 50
Relation
is no relation of seller d to the issuer or any or or director thereof;
and, if required;
mises from the Labsha
type of charge on the
Machinery & Equipment h.
tion of lot No.
Area in Decimal
Satkhira, y Area 251
lessor, principal terms
(viii) Dates of purchase of plant and machineries alonatpurchase and remaining economic life, purchase
Dates ofpurchase Sellers name
18.11.2002 Lohia Starlinger Ltd. [Tape line,Looms & other equipments]
D-3/Estate
25.03.2003 JACKSON LTD. [Cummins, DesielGenerators 2 sets]
196,Bhlm3962
12.05.2003Shiva Polymer Pvt. Ltd. [Printing,baling, chease pipe, testingequipment, etc.]
No. 1BraboIndia
30.06.2003
Energypac Engineering Ltd. [Sub-station] with cable and other localequipments from differentcompany.
EnergI/A,(
07.10.2003
Lohia Starlinger Ltd. [CircularLooms, equipments and localAccessories with installationcharges]
D-3/Estate
25.09.2004Local different company.(Accessories, equipments, cable,etc.)
NabaSatkh
13.08.2005 Lohia Starlinger Ltd.[CircularLooms & other equipments]
D-3/Estate
10.09.2006
Yanfeng Plastic Machinery GeneralFactory [circular Loom, PrintingMachine, Swing Machine withother acessories. With localinstallation equipments]
WuyPingyChin
25.03.2008 Local different company.(Acessories, equipments, spare, etc.)
NabaMark
20.02.2009Yangfeng Plastic MachineryGeneral Factory [ LaminationMachine]
WuyPingyChin
20.09.2009Local different company. (Electricalmotors, Invertier, acessories,equipments, etc.)
NabaSatkh
20.06.2011Local different company. (Aircompressor, Stablizer, equipments,cable, etc.)
NabaKhulother
02.01.2012 Local different company. (Spares,equipments, cable, etc.)
NabaSatkh
25.10.2012 Zhejiang Tian feng Plastic Aojia
ng withsellers name, address, years of sale, condition whenpurchased, cprice andwritten down value;
Address Yearsof sale
Condition whenpurchased
Country oforigin
Purchaseincluding
related c/A, Panki Industriale, Kanpur-208022, India N/A Brand New India 22,345,9
Panchal Udyog Nagarmpur, Daman, India -210
N/A Brand New India 3,802,4
15. Banerjee Bhwan,ourn Road, Kolkata,
aN/A Brand New India 5,257,8
gy Center, 25,Tejgaon(1st & 2nd Floor) N/A Brand New Bangladesh 8,401,3
/A, Panki Industriale, Kanpur-208022, India N/A Brand New India 2,656,7
abpur road, Saver,hira market & other area. N/A Brand New Bangladesh 1,068,8
/A, Panki Industriale, Kanpur-208022, India N/A Brand New India 4,603,0
yang Industrial Zone,yang City, Wenzhou,
naN/A Brand New China 3,690,4
abpur Road, Satkhiraket & other area. N/A Brand New Bangladesh 1,720,4
yang Industrial Zone,yang City, Wenzhou,
naN/A Brand New China 2,729,9
abpur Road, Saver,hira Market & other area. N/A Brand New Bangladesh 2,648,7
abpur Road, Jessor,na, Satkhira Market &r area.
N/A Brand New Bangladesh 3,725,6
abpur Road, Saver,hira Market & other area. N/A Brand New Bangladesh 5,514,7
ang Town, Pingyang, N/A Brand New China 8,607,7
Page | 51
ountry of origin, useful economic life
priceother
cost
Usefuleconomic lifeat purchase
Remainingeconomic life
985 30 16
440 25 12
838 20 7
356 30 17
700 30 17
852 20 8
062 30 19
438 25 15
470 20 12
953 25 18
716 20 13
630 20 15
742 20 16
703 25 21
Machinery Plant[Tape line, RecycleMacine, Crusher Machine]
WenChin
26.12.2012
Zhejiang Tian feng PlasticMachinery Plant[Circular Loom, 4Colour Printing Machine, BaillingMachine, Cutting Machine]
AojiaWenChin
05.01.2013
Changzhou New LiaoyuanMachinery Co. Ltd & Zhejiang Tianfeng Plastic Machinery Plant [Tapeline, Loom & other equipments]
XilinChanAojiaWen
15.02.2013Local different company: [Cheasepipe/ bobbin, Sewing machine,etc.]
PaglaNabo
07.04.2013 Lohia Starlinger Ltd. [CircularLoom with spare parts]
D-3/Estate
10.04.2013
Local different company. [Re-installation of full production linewith install new machine &overhuling of old machine byforeigen & local erector withspares.]
NabaKhulother
30.04.2013Local different company: [Chillingpant, Submargable pum, pipe linematerial, etc. with installation cost].
Saver
30.04.2013
Local different company.(Acessories, equipments,DB box,Cooling Tower, Stablizer, cable,etc.)
NabaKhulother
22.05.2013
Zhejiang Tian feng PlasticMachinery Plant[Circular Loom, 3colours printing machine, bobinwith other parts
AojiaCity,Chin
22.05.2013 Local different company.(Acessories, equipments, cable, etc.)
NabaSatkh
30.09.2013 Stitch Man ARMOSTRONG BRANDSewing Machine & Spare Parts.
StiticAhm
31.10.2013 Perfects Belts India [ Tape line&Loom auxzolary part & Spares]
JalanIndia
30.11.2013
Ambotion Trading Eng., TanucaTraders, S.S Enterprise (CuttingMachine, Spare Parts, Recyclingmachine Screw & barrale)
NabaSatkh
31.12.2013
Paradise Cable, MEP Electronic,Bengle Hadware, Taxtile SpartsEng. [Cable & electrocialacessories.]
NabaKhulother
nzhou, Zhejiang Province,na.
ang Town, Pingyang,nzhou, hejiang Province,na.
N/A Brand New China 6,807,6
n Industry Zone,ngzhou, Jiangsu,Chinaang Town, Pingyang,nzhou, China.
N/A Brand New China 37,117,0
a, Naryangong,obpur road, N/A Brand New Bangladesh 4,256,0
/A, Panki Industriale Kanpur-208022, N/A Brand New India 4,320,6
abpur Road, Jessor,na, Satkhira Market &r area.
N/A Brand New Bangladesh 5,630,0
r, Dhaka N/A Brand New Bangladesh 2,900,0
abpur Road, Jessor,na, Satkhira Market &r area.
N/A Brand New Local 7,601,9
ang Town, WenzhouZhejiang Province,
naN/A Brand New China 6,056,8
abpur Road, Saver,hira Market & other area. N/A Brand New Bangladesh 2,250,0
ch Man, Gujarat,edabad-380014 N/A Brand New India 1,872,0
ndhar - 144013. Punjaba N/A Brand New India 1,418,7
abpur Road, Khulna,hira Market. N/A Brand New Bangladesh 2,783,3
abpur Road, Jessor,na, Satkhira Market &r area.
N/A Brand New Bangladesh 3,651,0
Page | 52
647 25 21
000 25 22
000 20 17
669 30 27
000 20 17
000 20 17
934 20 17
839 20 17
000 20 17
000 20 17
700 15 12
300 15 12
050 15 12
31.01.2014Aziz Rubber Industries & RoosTempkool (Printing drum, SpareParts & Chilling Plant compressor)
Moha
28.02.2014
Samadhan Machinery & Eng.,Iftekhar Eng. & Machinery, AzizRubber Ind. Ltd., (PrintingMachine, Spare Parts)
NabaKhulother
15.03.2014 BRB & MEP Cables, Batighar & B.KPower Ltd. [ cable & UPS]
KustiNabp
31.03.2014
H. S Enterprise, Aziz Rubber Ind.,Jisan Eng., Mamun Ent., IftekherEng., (Chease Pipe, UPS, SaprePatrs, Air Compressore, CablePurchase, equipments, etc.
NabaKhulother
31.05.2014 Abdulla Hasim, (Spare parts, Scewmachine, Liner Blowm film)
NabaKhulother
16.07.2014Garter Mechanical EngineeringCo., Ltd [Circular Loom withaccessories]
KwanTaiw
16.10.2014Kabra Extrusion Technic Ltd. [Monolayer Blown Film ExtruderPlan & Recycle Machine]
Kolsi(west
14.12.2014SOCOMEC Asia Pacific Pte Ltd.[200 KVA UPS with localinstallation equipments & charges]
MeibSingaFranc
16.12.2014
Garter Mechanical EngineeringCo., Ltd [AutoCutting & Sewingconversion line, Blown Flim cuttingmachine & acessories.]
KwanTaiw
Total Co
akhali, Nababpur Road, N/A Brand New Bangladesh 3,305,0
abpur Road, Jessor,na, Satkhira Market &r area.
N/A Brand New Bangladesh 2,634,6
ia, Barishal, Saver &pur road. N/A Brand New Bangladesh 2,273,3
abpur Road, Jessor,na, Satkhira Market &r area.
N/A Brand New Bangladesh 7,385,4
abpur Road, Jessor,na, Satkhira Market &r area.
N/A Brand New Local 965,30
ngfu North Road, Taipei,wan, R. O. C. N/A Brand New Taiwan 1,830,0
ite House, Andherit), Mumbai.India N/A Brand New India 4,880,0
ban Industrial Building,apore & Mother companyce
N/A Brand New France 5,719,1
ngfu North Road, Taipei,wan, R. O. C. N/A Brand New Taiwan 2,695,9
ost of Acquisition during the year 195,128
Page | 53
000 15 13
670 15 13
383 20 18
498 20 18
00 15 13
000 30 28
000 30 28
183 30 28
967 30 28
,025
(ix) Details of the machineries required to be bought by tof supply, etc.
No machineries are required to be bought by the issu
SI. Description
1
Tape plant: Tape Extrusion Line complete with CheeseWinder and Standard Accessories (auto dosing, autotrimming, deistical control) Country of origin:India/China. Capacity: 350 Kg / hour. Facility for FIBC &Tarpaulin fabric yarn manufacturing arrangement.Probable supplier:Lohia starlinger, d-3/a, panki industrialestate, kanpur-208 022, india/Changzhou New LiaoyuanMachinery Co. Ltd., Changzhou City, Xilin Industrial Zone.China.
2
Circular weaving loom: Circular Loom (6 shuttle) withStandard Accessories and optional equipments.Manufacturing of FIBC & Tarpaulin fabric, Country oforigin: India/China, Capacity: 120 picks per minutes, diaupto 130 cm. Probable supplier: Lohia starlinger, d-3/a,panki industrial estate, kanpur-208 022, india/ChangzhouNew Liaoyuan Machinery Co. Ltd., Changzhou City, XilinIndustrial Zone. China.
3
Lamination plant: Single & Double side laminationmachine with standard accessories. Country of origin:India/China. Capacity: 200 Kg / hour. Linespeed: 50 to 150 meter / minutes (depend on cotingthickness) Facility for FIBC & Tarpaulin fabriclamination arrangement and BOPP film lamination.Probable supplier: J.P Extrusiontech Ltd., GIDCIndustrial Estate, Gujarat, India/Shantou BondMachinery Co. Ltd Jinping District, Guangdong,china/Changzhou New Liaoyuan Machinery Co. Ltd.,Changzhou City, Xilin Industrial Zone. China.
4 Finishing machine & equipments for Tarpaulin:a Welding machine, Country of origin: Indiab Fabric Eyelet machine, Country of origin: India
c
Cutting machine, Country of origin: India Probablesupplier: S.K. Enterprise, Kolkata, India/Shantou BondMachinery Co. Ltd Jinping District, Guangdong,china/Changzhou New Liaoyuan Machinery Co. Ltd.,Changzhou City, Xilin Industrial Zone. China.
5 FIBC Finishing machinery:a Puch Cutting machine, Country of origin: India/China
b
Sewing machine, Country of origin: India/ChinaProbable supplier: S.K. Enterprise, Kolkata,India/Gabber Engineering Co./Shantou BondMachinery Co. Ltd Jinping District, Guangdong,china/Changzhou New Liaoyuan Machinery Co. Ltd.,Changzhou City, Xilin Industrial Zone. China.
theissuer, cost of the machineries, name of the suppliers, date ofplacement
uer except machineries to be bought from IPO proceeds, the details are give
Qty (Nos.) Unit Price (USD) Total Price (USD) Total Price(BDT)
1 330,500 330,500 26,109,500
4 26,000 104,000 8,216,000
1 290,000 290,000 22,910,000
1 27,500 27,500 2,172,5001 11,500 11,500 908,500
2 9,500 19,000 1,501,000
1 20,000 20,000 1,580,000
6 5,000 30,000 2,370,000
Page | 54
t of order and the date or expected date
en under as follows:
Date of placement oforder
Expected date ofsupply
31.12.2016 2017
31.12.2016 2017
31.12.2016 2017
31.12.2016 2017
31.12.2016 2017
6 Injection Molding Machine for Hanger & FIBC Bag accesso
aInjection Molding Machine with standard accessoriesand air compressor & air cool chiller. Country of origin:China, Capacity: 30 Kg/hour
b
Mold for FIBC accessories & HangerProbable supplier: Bole Plastic Machinery, Xiaogang,Ningbo, China/Fu Chun Shin Machinery Mfg Co. Ltd.,Tainan city, Taiwan.
Total Price
Local Cost of Duty, port charges, C&F, Insurance,Transportation, Installation, etc.Total cost for imported machinery & equipments
7 Local Machinery & Equipments
a
Electrical Sub- Station (1,500 KVA) equipments includingPFI Plant, HT cable, LT cable, earthing equipments with iElectrification Board permission, HT Connection line coetc.), Metering unit and other. All supply and installatiosupplier as turnkey supply.
b Sub- Station security deposit to REB @ Tk. 2,750 X1,200 Kw (1,500 KVA) as per govt. fixed rate.
8 Other local equipments:a Chease pipe ( bobbin) for tape line & loomb Winder for existing Tape line to convert FIBC yarn
c Air compressor for loom, Tape line, & laminationCapacity: 10 bar.
d Chilling Plant with cooling tower for Tape line &Lamination machine. Capacity :( 40 + 40 TR)
eBasber system (BBT) Electrical line installation for betterprotection of distribution line inside of factory as wellas to maintain compliance for export oriented industry.
fElectrical cable for installation of imported machinerypower distribution line between machines With DB andother connection equipments.
Total
ories:
2 35,500 71,000 5,609,000
8 4,500 36,000 2,844,000
939,500 74,220,500
15% 11,133,075
85,353,575
g Transformer, L.T panel, HT Panel,installation, Drop out Fuse, CT, PT,onstruction (including cable, pole,on work completed by sub-station
- 9,550,000
- 3,300,000
-50,000 75 - 3,750,000
248 35,000 - 8,680,000
3 270,000 - 810,000
2 2,850,000 - 5,700,000
As req 12,700,000
As req 3,906,425
133,750,000
Page | 55
31.12.2016 2017
31.12.2016 2017
31.12.2016 2017
(x) In case the machineries are yet to be delivered, the date ofquotations relied upon for the cost estimates given shall alsobe mentioned;
There are no such machineries
(xi) If plant is purchased in brand new condition then it should bementioned;
All plants and machineries of the Company were purchased
DECLARTION RELATED TO MACHINERIES BEING BRAND NEW
We do hereby declare that the Plant &Polymer Limited are all brand new and there are neither reinstalled in the company.
Dated: March 10, 2016Dhaka
(xii) Details of the second hand or reconditioned machineriesbought or proposed to be bought, if any, including the age ofthe machineries, balance estimated useful life, etc. as per PSIcertificates of the said machineries as submitted to theCommission;
The Company neither purchased any second hand or reconditioned machineries nor any plan to purchase in future.
(xiii) A physical verification report by the issue manager(s
Commission;
PHYSICAL VERIFICATION
This is to certify that we have visited the registered office and factory of Yeakin Polymer Limited on January 14 and January 17, 2016 respectively and we have found the registered office and
Visited and Accompanied by:
Visited by (Imperial Capital Ltd.)
: 1. Md. Salauddin Sikder FCMA2. Md. Shazzad Hossain
Visited by (FAS Capital Management Limited)
: 1. Md. Shahidul Islam
: 2. Foize Ahmed
Accompanied by : 1. S. M. Akter Kabir2. Altafur Rahman
Registered Office:
The registered office of the Company is located at 83, SidFloor), Malibagh, Dhaka-1217.
Location of the Factory local office:
The factory is situated in its own premises at Labsha, Satkhira, BangladeshHouse#291, Road: Sonadanga, R/A (2
Nature of Business:
Manufacturing and marketing (local & export) of PP woven
Products:
PP and HDPE woven regular bag (with laminated, un laminated, BOPP/OPP/CPP pasted), FIBC bag, leno (net) bag, Recyclable & Reusable Shopping bag, LD/HDPE inner liner.
et to be delivered, the date ofquotations relied upon for the cost estimates
s which are yet to be delivered.
new condition then it should bementioned;
he Company were purchased in brand new condition.
ON RELATED TO MACHINERIES BEING BRAND NEW
he Plant &Machineries installed in the neither factory premises of Yeakin d new and there are neither re-conditioned nor second hand machineries
or reconditioned machineriesbought or proposed to be bought, if any, hineries, balance estimated useful life, etc. as per PSIcertificates of the said heCommission;
hased any second hand or reconditioned machineries nor any plan to
rt by the issue manager(s) regarding the properties as submitted to the
VERIFICATION REPORT BY THE ISSUE MANAGER(S)
Of
YEAKIN POLYMER LIMITED
ted the registered office and factory of Yeakin Polymer Limited on January ely and we have found the registered office and factory as details bellow:
Particulars d. Salauddin Sikder FCMA CEO & Managing Directord. Shazzad Hossain Senior Executive, Imperial Capital L
d. Shahidul IslamChief Executive Officer (C.CFAS Capital Management L
ze Ahmed Deputy Manager, FAS Capital Management LM. Akter Kabir Managing Director, Yafur Rahman Factory Incharge, Yeakin Polymer
pany is located at 83, Siddheswari Circular Road, Manhattan Tower (6
n premises at Labsha, Satkhira, Bangladesh and local office located at A (2nd Phase), Khulna-9000.
al & export) of PP woven Bag, fabric and liner.
with laminated, un laminated, BOPP/OPP/CPP pasted), FIBC bag, leno (net) ng bag, LD/HDPE inner liner.
Page | 56
n for the cost estimates
n.
ry premises of Yeakin ond hand machineries
Sd/-ARTISAN
Chartered Accountants
to be bought, if any, Icertificates of the said
eries nor any plan to
es as submitted to the
mer Limited on January ory as details bellow:
ector, Imperial Capital Ltd. erial Capital Ltd. er (C.C.),
ment Ltd. Capital Management Ltd.
Yeakin PolymerLtd. kin Polymer Ltd.
Manhattan Tower (6th
local office located at
d), FIBC bag, leno (net)
Description of Property:
We have identified the properties of Yeakin Polymer Limited are as follows:
1) Land: We have found 276.708 decimals of land surrounded by boundary wall.
2) Factory Building: The factory has total three prebuilding, 4 storied dormitories (two storied completed and balance under construction), 4 storied guest house with residence manager quarter (two storied completed and balance under construction), One shade for garbage storage, Security shade, Subconstruction for new substation), etc. Details of the buildings status are discussed below:
Number of Buildings
Type (Bricks/Tin/Prefabricated
Steel)
Building-1 Pillar- RCC, WallRoof-steel structure, Prefabricated Tin Shed.
Building-2 Pillar- RCC, WallRoof-steel structure, Prefabricated Tin Shed.
Building-3 Pillar- RCC, WallRoof-steel structure, Prefabricated Tin Shed.
Other Building and shades.
One administrative building, 4 storied dormitories (two storied completed and balance under construction), 4 storied guest house with residence manager quarter (two storied completed and balance under construction), One shade for garbage storage, Security Generator room one and another under construction for new substation), etc.
3) Plant & Machinery and Office Equipment:
Name of Machinery
High speed Tape Extrusion Line with winder Machine Circular Weaving Loom Machine Circular Weaving Loom MachineLeno Loom MachineNeedle loom
Lamination Machine
Recycle & crashing MachineAuto Cutting & sewing MachineAuto CuttingAuto Multi Color PrintingPiece to piece Flexo gravie printing machine (2,3&4color) for pp woven bag. Piece to piece Flexo gravie printing machine (3 color) for FIBC bag.
Blown film extruder
Blown film cutting & sealing machine
High Speed Sack Sewing MachinePiece to piece Cutting and sealing machine Power stabilizer (total 500 KVA)
UPS (total 400 KVA)
Generator (total 1,060 KVA)Sub-station (400 KVA running & 1500 KVA under installation)
of Yeakin Polymer Limited are as follows:
8 decimals of land surrounded by boundary wall.
has total three pre-fabricated tin shed buildings and One administrative s (two storied completed and balance under construction), 4 storied guest er quarter (two storied completed and balance under construction), One Security shade, Sub-station & Generator room onen), etc. Details of the buildings status are discussed below:
ype /Prefabricated eel)
Total Building Area Status of Use
, Wall-Brick, tructure, Pre-n Shed.
28,500 Sft Setup Tape Extrusion line, Loom for weaving, Lamination line, Local bag finishing line with Cutting, printing, sewing, Bailing machine.
, Wall-Brick, tructure, Pre-n Shed.
15,000 Sft Setup Tape Extrusion line, Loom for weaving and Warehouse
, Wall-Brick, tructure, Pre-n Shed.
12,500 Sft Blown Film Liner, Recycling, Exportfinishing line with Cutting, printing, sewing, Bailing machine and Bonded warehouse area.
strative building, 4 storied dormitories (two storied completed and balance under ), 4 storied guest house with residence manager quarter (two storied completed and
der construction), One shade for garbage storage, Security oom one and another under construction for new substation), etc.
quipment:
y Use
ne with Manufacturing of yarn in bobbin
hine Weaving of fabric in different sizehine Weaving of FIBC fabric in different size
Weaving of net fabric in different sizeWeaving of belt for FIBC bagLaminate fabric and pest / sandewise Kraft paper/ BOPP / CPP film Recycle all waste for reuse
ine Bag cutting & sewingBag cuttingFor Roll to roll bag printing.
inting woven Piece to piece different size bag printing
inting ag. Piece to piece different size FIBC bag printing
Different size HDPE/LDPE/LLDPE inner liner film making.
machine Different size HDPE/LDPE/LLDPE inner liner bag making.
hine For normal & FIBC bag sewingaling For normal & FIBC bag cutting
VA) Stability and safety of power equipmentsFor continuity the power between Sub -station and generator. As standby power
ng & 1500 For grid supply from REB
Page | 57
nd One administrative uction), 4 storied guest der construction), One ne and another under elow:
s of Use
line, Loom for weaving, l bag finishing line with ng, Bailing machine.
line, Loom for weaving
Recycling, Export bag utting, printing, sewing, onded warehouse area.pleted and balance under wo storied completed and rity shade, Sub-station & n), etc.
Quantity (Sets)
3
46e 8
41
raft 1
6121
g 4
inting 1
r liner 2
r liner 2
12
8
ts 4- 2
3
2
4) ETP: The Company does not need any ETP plant to purify the waste water. The company follows the rules and guidelines of the environment directorate’s policies and directives. Company accord ISO 140001:2004 certificates on environment management and maintain alfor export market. Besides these assets we have also found other assets like Furniture & Fixture, Vehicles, Electrical Substation, Electrical Equipment, Tube Well and Others.
It is also mentionable here that during our duty register) and found satisfactory. We also noticed that all machineries of YPL are in good condition and running well.
Signboard:
The signboard of the Company is well displayed at the factory premises and there with in the said factory premises.
Sd/-Md. Salauddin Sikder FCMA CEO & Managing Director Imperial Capital Limited
(xiv) If the issuer is entitled to any intellectual property right orintangible asset, full description of the property, whether thesame are legally held by the issuer and whether been complied with;
The Company has no intellectual property right or intangible asset.
(xv) Full description of other properties of the issuer.
Particulars
Factory BuildingOffice EquipmentFurniture & FixtureVehicles
eed any ETP plant to purify the waste water. The company follows the rules ronment directorate’s policies and directives. Company accord ISO environment management and maintain all compliance issues as assigned
e also found other assets like Furniture & Fixture, Vehicles, Electrical nt, Tube Well and Others.
t during our visit, we also checked Inventory register and roster (Workers’ factory. We also noticed that all machineries of YPL are in good condition
well displayed at the factory premises and there is n
Chief EFAS Capital Management Limited
any intellectual property right orintangible asset, full description of the are legally held by the issuer and whether allformalities in this regard have
ctual property right or intangible asset.
erties of the issuer.A
ars
Page | 58
mpany follows the rules Company accord ISO ance issues as assigned
re, Vehicles, Electrical
r and roster (Workers’ are in good condition
o other Office/Factory
Sd/-Md. Shahidul Alam
Executive Officer (C.C.) al Management Limited
full description of the ties in this regard have
As per audited accountsWritten Down Value
as at 30-06-2015117,583,881
1,608,4154,449,674
234,804
(f) Plan of Operation and Discussion of Financial Condition:a) Revenue and results from operation:
ParticularsSales RevenueLess: Cost of Goods SoldGROSS PROFITLess: Operating ExpenseFinancial ExpenseProfit from OperationsOther IncomeProfit before Contribution to WPPF & before Tax Less: Provision for WPPFNET PROFIT BEFORE TAXLess: Tax Holiday ReservePROVISION FOR TAXDeferred Tax ExpenseNET PROFIT AFTER TAX
b) Internal and external sources of cash
ParticularsInternal Sources of Cash
Share CapitalShare Money DepositGeneral ReserveTax Holyday reserveRetained Earnings
TotalExternal Sources of Cash
Long Term Bank LoanCurrent Portion of Long Term LoanShort Term Bank Loan
TotalGrand Total
c)Any material commitments for capital expenditure andexpected sources of funds for such expenditure;
The Company has not yet made any material commitment for capital expenditurecompany has a plan to net proceeds of IPO. Detailsprospectus.
d) Causes for any material changes from period to period inrevenues, cost
operating expensesand net income;
The company’s revenuescontinued to change due to increasing production by adding new machine and increase sales volume.
Particulars 30Sales Revenue 4Cost of Goods Sold 3Operating Expense
Net Profit After Tax
Revenues: Production capacity has been increased in every year by installing plant and machinery. Resultant, period to period changes in revenues
Cost of goods sold: Increase of cost of goods sold in period to period is in the line with sales volume.
Other operating expenses:Increase of operating expenses in period to period is in the line with production and sale volume.
Net income: Net income increase in period to period is in line with sales volume.
e) Any seasonal aspects of the issuer’s business;
ussion of Financial Condition:operation:
30-Jun-15 30-Jun-14 30-Jun-13419,920,083 316,742,010 223,921,340306,932,915 233,093,134 163,756,748112,987,168 83,648,876 60,164,592
14,429,183 12,520,095 10,239,59411,044,348 8,600,631 7,195,78387,513,637 62,528,150 42,729,215
1,452,089 561,302 590,547F & 88,965,726 63,089,452 43,319,762
4,236,463 3,004,259 2,062,84684,729,263 60,085,193 41,256,916
- - -19,657,463 21,029,817 15,471,344
9,997,780 2,101,948 -55,074,021 36,953,428 25,785,572
rces of cash
30-06-2015 30-06-2014 30-06-2013 30-
390,000,000 240,000,000 169,590,000 96,100,000- - 35,910,000
8,357,000 8,357,000 8,357,00024,159,453 24,159,453 24,159,453 24,159,453
147,403,482 97,759,461 65,575,283 48,763,250569,919,935 370,275,914 303,591,736 169,022,703
12,836,055 811,250 -oan 5,293,968 563,750 -
58,193,990 71,653,196 49,867,258 39,891,77876,324,013 73,028,196 49,867,258 39,891,778
646,243,948 443,304,110 353,458,994 208,914,481
or capital expenditure andexpected sources of funds for such expenditure;
et made any material commitment for capital expenditureet proceeds of IPO. Details in Chapter (XXII) page number
changes from period to period inrevenues, cost t income;
and cost of goods sold, other operating expenses and net income have e to increasing production by adding new machine and increase sales
0-Jun-15 30-Jun-14 30-Jun-13 30-J419,920,083 316,742,010 223,921,340 151,270,156306,932,915 233,093,134 163,756,748 116,675,675
14,429,183 12,520,095 10,239,594 8,641,38555,074,021 36,953,428 25,785,572 11,494,553
has been increased in every year by installing plant and machinery. riod changes in revenues have been arisen.
ds sold in period to period is in the line with sales volume.
ses:xpenses in period to period is in the line with production and sale volume.
period to period is in line with sales volume.
e issuer’s business;
Page | 59
30-Jun-12 30-Jun-11151,270,156 148,427,415116,675,675 118,812,608
34,594,481 29,614,8078,641,385 6,947,4726,593,848 4,798,377
19,359,248 17,868,958- 5,428
19,359,248 17,874,386
967,963 851,16118,391,285 17,023,225
- -6,896,732 6,383,709
- -11,494,553 10,639,516
06-2012 30-06-2011
,100,000 60,000,000- -- -
,159,453 24,159,453,763,250 46,878,697,022,703 131,038,150
- 108,405- -
,891,778 39,771,287,891,778 39,879,692,914,481 170,917,842
for such expenditure;
nditure. However, the number116-129of the
of goods sold, other
and net income have ne and increase sales
un-12 30-Jun-11270,156 148,427,415675,675 118,812,608641,385 6,947,472494,553 10,639,516
plant and machinery.
ume.
ction and sale volume.
YPL supplies its products to its permanent buyers, who provide sufficient purchase orders to work throughout the year. As a r
f) Any known trends, events or uncertainties that may havematerial effect on the issuer’s future business;
At present there are no known trends, events and/or uncertainties that shall hon the company’s future business except for those which are naturally beyond control of human being.
g) Any assets of the company used to pay off anyliabilities;
None of the assets of the company has been used to pay off any
h) Any loan taken from or given to any related party orconnected person of the issuer with details of the same;
No loan taken from or given to any related party or connected person of the issuer
i) Any future contractual liabilities the issuer may enterinto within next one year, and the impact, if any, on thefinancial fundamentals of the issuer;
The company has no plan to enter into any contract creating future liabilities for the company except for those which are created
j) The estimated amount, where applicable, of futurecapital expenditure;
The company has no plan for capital expenditure except for those mentioned in the ‘Use of Proceeds’ from IPO fund.
k) Any VAT, income tax, customs duty or other taxliability which is yet to be paid, including any contingentliabilities stating why the same was not paid prior to theissuance of the prospectus. Updated income tax statusfor the last 5 years or from commercial operation, whic
VAT:
There is no VAT liability of the Company as on 30 June, 2015.
Customs Duty or other tax liabilities
There is no customs duty o
Income Tax:
Following are the details of
Income Year Assessment Year
2014-2015 2015-2016
2013-2014 2014-2015
2012-2013 2013-2014
2011-2012 2012-2013
2010-2011 2011-2012
l) Any financial commitment, including lease commitmentpast five yearsor from commercial operation, which is shorter, givingdetails as to how the liquidation was or is to be effected;
to its permanent buyers, who provide sufficient purchase orders to work result, no seasonal aspects adversely affect the business of YPL.
ts or uncertainties that may havematerial effect on the issuer’s future
nown trends, events and/or uncertainties that shall hbusiness except for those which are naturally beyond control of human
y used to pay off anyliabilities;
ompany has been used to pay off any liabilities of the company.
ven to any related party orconnected person of the issuer with details of the
en to any related party or connected person of the issuer
abilities the issuer may enterinto within next one year, and the impact, if amentals of the issuer;
to enter into any contract creating future liabilities for the company except d in the normal course of business activities.
here applicable, of futurecapital expenditure;
for capital expenditure except for those mentioned in the ‘Use of Proceeds’
ustoms duty or other taxliability which is yet to be paid, including any ng why the same was not paid prior to theissuance of the prospectus. sfor the last 5 years or from commercial operation, whic
f the Company as on 30 June, 2015.
x liabilities:
or other tax Liability of the Company as on 30 June, 2015.
f income tax related information of the Company:
nt Status
16 Income tax return has been submitted but assessment not completed yet
15
As per certificate given by Assistant Commissioner123 (Companies), Taxes Zone-6, Dhaka, 05.05.2015;Assessment of the company has been completed for the2014-2015 under section 82BB and tax paid.
14
As per certificate given by Deputy Commissioner of 123 (Companies), Taxes Zone-6, Dhaka, dated 03.04.2014 the Company’s return has been submitted under Universal the assessment year 2013-2014 and tax paid. from the Income tax authority no notice is provided on the submitted return as yet.
13
As per certificate given by Deputy Commissioner of Taxes (DCT), 123 (Companies), Taxes Zone-6, Dhaka, dated 31.03.2013 the Company’s assessment has been completed U/S. 8year 2012-2013 and tax paid in full.
12
As per certificate given by Deputy Commissioner of Taxes (DCT), 123 (Companies), Taxes Zone-6, Dhaka, dated 21.08.2013 the Company’s assessment has been completed U/S. 82BB for theyear 2011-2012 and tax paid in full.
nt, including lease commitment, the company had entered into during the mmercial operation, which is shorter, givingdetails as to how the liquidation
Page | 60
urchase orders to work ess of YPL.
on the issuer’s future
have a material impact ond control of human
company.
suer with details of the
uer.
ear, and the impact, if
or the company except
in the ‘Use of Proceeds’
be paid, including any nce of the prospectus.
whichis shorter;
2015.
ent not completed yet.r of Taxes (ACT), Circle-, has certified on completed for the year
of Taxes (DCT), Circle-dated 03.04.2014 the ersal self-assessment for Mentionable here that, vided on the submitted
of Taxes (DCT), Circle-dated 31.03.2013 the 82BB for the assessment
of Taxes (DCT), Circle-dated 21.08.2013 the 82BB for the assessment
ntered into during the to how the liquidation
The Company has no financialCompany is established in a rented space under the following condition:
Financial (Long and Short term)
a) Financial Commitment (Long Term):
Name of Bank
Islami Bank Bangladesh Ltd. Sathkhira Branch
b) Financial Commitment (Short Term):
Name of Bank
Islami Bank Bangladesh Ltd. Sathkhira Branch
c) Lease Commitment:
Sl. No. A
183, Siddheswari Circular Road, Manhattan Tower (6Dhaka-1217.
2 House#291, Road: Sonadanga, R/A (2Phase), Khulna-9
l) Details of all personnel related schemes for which thecompany has to make provision for in future years;
In addition to company’s monthly salary benefits, wages and allowances, the company also provides following benefits to the employees.
a. Festival Allowance:
b. Group Insurance:benefit with Fareast Islami Life Insurance Co. Ltd.
c. WPPF: The Company makes a regular allocation of 5% on net income before tax to this funds and payment is made to the workers as per provisions of Labour Laws (Amendment) 2013.
m) Break down of all expenses related to the public issue;
The following amount to be paid to the Issue Managers, Underwriters and other costs are as follows:Sl. Particulars
ancial lease obligation with anyone. However, the ra rented space under the following condition:
term) and Lease commitment during last five years:
(Long Term):
Amount of Loan (Tk.)
Types of Loan
Sanction date
Sanction Period
RI
4 Crore Term Loan 04.03.14 5 ( Five) Years 1
(Short Term):
Amount of Loan (Tk.)
Types of Loan
Sanction date
Sanction Period
RI
9 Crore Term Loan 04.03.14 1 (One) Year 1
Address Area (Sft) Rent/Sft. P
Circular Road, r (6th Floor), Malibagh,
2,150 27.00 01/07/1430/06/17
400 27.00 01/01/1531/12/18
d: Sonadanga, R/A (2nd
000 1,100 11.00 01/01/201331/12/2017
ted schemes for which thecompany has to make provision for in future years;
monthly salary benefits, wages and allowances, the company also provides mployees.
e:The Companyhas given two Festival Allowance in a year.
e: All Permanent labors of the Company are entitled to group insurance ast Islami Life Insurance Co. Ltd.
any makes a regular allocation of 5% on net income before tax to this funds made to the workers as per provisions of Labour Laws (Amendment) 2013.
es related to the public issue;
be paid to the Issue Managers, Underwriters and other costs are as follows:Nature of Expenditure
Page | 61
registered office of the
Rate of nterest
Outstanding of Loan as on 30.06.2015
5.50 % 18,130,023
Rate of nterest
Outstanding of Loan as on 30.06.2015
5.50 % 58,193,990
Period Rent p/m (Tk.)
/07/14-/06/17 58,050
/01/15-/12/18 10,800
01/2013-12/2017 12,100
on for in future years;
company also provides
a year.
ed to group insurance
before tax to this funds (Amendment) 2013.
er costs are as follows:Amount in
A. Issue Management Fees
1 Managers to the Issue Fee (ICL-TFCML-Tk. 2.50 Lac)
2 VAT against Issue Management FeesB. Listing Related Expenses3 Prospectus Submission Fees to DSE & CSE
4 Listing Fees for Stock Exchange(s) (DSE & CSE)
5 Annual Fee for DSE & CSEC. BSEC Fees6 Application Fee7 BSEC Consent FeeD. IPO Related Fees
8 Underwriting Commission
9 Auditor Certification FeesE. CDBL Fees and Expenses10 Security Deposit11 Documentation Fee12 Annual Fee13 Connection Fee (Tk. 500.00 per month*12)
14 IPO Fees
F. Printing and Post IPO Expenses
15 Publication of Prospectus
16 Abridged version of Prospectus and Notice in 4 daily newspapers
17 Notice for Prospectus, Lottery, Refund etc. in 4 daily news paper
18 Lottery Conducting Expenses & BUET Fee19 Data Processing and Share Software Charge20 Courier Expenses21 Administrative and Stationary Expenses
N.B.: Actual costs will vary if above mentioned estimates differ and will be adjusted accordingly.
n) If the issuer has revalued any of its assets, the namethereason for the revaluation, showing the value of theassets prior to the revaluation separately for each assetrevalued in a manner which shall facilitate comparisonbetween the historical value and the amount afterrevaluation and giving a summary of the valuation reportalong with basis of pricing and certificates requiredunder the revaluation guideline of the Commission;
Yeakin Polymer Limited hasn’t made any revaluation of its asset.
o) Where the issuer is a holding/subsidiary company, fulldisclosure about the transactions, including its natureand amount, between the issuer and itssubsidiary/holding company, including transactionswhich had taken place within the last five years of theissuance of the prospectusthe date ofincorporation of the issuer, whichever is later, clearlyindicating whether the issuer is a debtor or a creditor;
The Company has no subsidiary nor is not applicable for the company
Tk. 17.50.00 Lac& 1% of public offering, Maximum 3,000,000 (Thirty Lac)
Fees @ 15% of Issue Management Fees
SE & CSE Fixed
s) (DSE & CSE)
@ 0.25% on Tk. 10 Crore and 0.15% on the rest amount of paid up capital range;
(minimum 50 thousand maximum Tk. 1 crore for each exchanges)
Fixed
FixedFee @ 0.40% on the public offering amount
Commission @ 0.50% on Underwritten Amount At Actual
At ActualAt ActualAt Actual
month*12) At [email protected]% of issue size+0.015% of Pre
Paid-up Capital
Estimated (to be paid at actual)Approximate 5,000 copy
and Notice in 4 daily Estimated (to be paid at actual)
efund etc. in 4 daily Estimated (to be paid at actual)
BUET Fee Estimated (to be paid at actual)ware Charge Estimated (to be paid at actual)
Estimated (to be paid at actual)xpenses Estimated (to be paid at actual)
Grand Total
y if above mentioned estimates differ and will be adjusted accordingly.
any of its assets, the name, qualification and experiences of the valuer and tion, showing the value of theassets prior to the revaluation separately for
manner which shall facilitate comparisonbetween the historical value and on and giving a summary of the valuation reportalong with basis of pricing nder the revaluation guideline of the Commission;
asn’t made any revaluation of its asset.
ding/subsidiary company, fulldisclosure about the transactions, including between the issuer and itssubsidiary/holding company, including
ken place within the last five years of theissuance of the prospectusof the issuer, whichever is later, clearlyindicating whether the issuer is a
sidiary nor is it operated under a holding company. Hompany.
Page | 62
Tk. (approx.)2,300,000
um 2,000,000
Fees 300,0002,660,000
100,000% on the ange; m Tk. 1 1,970,000
590,000850,000
50,000g amount 800,000
550,000written 350,000
200,000697,000500,000
2,500100,000
6,000Pre-IPO 88,500
6,243,000al) 700,000
al) 500,000
al) 200,000
al) 850,000al) 3,540,000al) 200,000al) 253,000
13,300,000
usted accordingly.
ences of the valuer and aluation separately for
he historical value and ng with basis of pricing
transactions, including company, including
the prospectus or since whether the issuer is a
Hence, the information
p) Financial Information of Group Companies: fogroupcompanies of the issuer, wherever applica
Sl. Description
01 Date of Incorporation;02. Nature of Business;
Year
03. Reserves(Retained Earnings)
04. Equity Capital (paid up capital)05. Sales06. Profit after tax;
07. Earnings per share and Diluted Earnings PerShare;(@Tk.10 per share)
08. Net Asset Value;
09.
The highest and lowest market price of sharesduring the preceding six months with disclosuresfor changes in capital structure during the period,if any securities of the group are listed with anyexchange;
10. Information regarding significant adversefactors relating to the group;
11. Any of the group companies has become sickor is under winding up;
12.The related business transactions within thegroup and their significance on the financialperformance of the issuer;
13.
Sales or purchase between group companies/subsidiaries/ associate companies when such salesor purchases exceed in value in the aggregate tenper cent of the total sales or purchases of the issuerand also material items of income or expenditurearising out of such transactions;
ollowinginformation for the last three years based on the auditedfinanable, along withsignificant notes of auditors:
CompanySatkhira Feeds Industries Limited
31/07/2007Produce Fish feed, Poultry feed and other animal feed. Agro ba
2014-2015 2013-2014 2012-2013 2014-
29,514,198 19,748,145 10,570,801 20,32
1,000,000 1,000,000 1,000,000 50163,514,060 154,203,867 130,854,289 32,11
9,766,053 9,177,343 2,604,057 7,68
97.66 91.77 26.04 1
30,514,198 20,748,145 11,570,801 20,82
N/A
No significant adverse factors relating to the group
No group companies has become sick or is under winding up;
Turnover Tk.419,920,083 as on30.06.2015.Transanction withshatkhira feedindustry during theyear Tk.10,555,690which has nosignificance on thefinancialperformance of theissuer.
Turnover Tk.316,742,010 as on
30.06.2014.Transanction with
shatkhira feedindustry during theyear Tk.5,563,563
which has nosignificance on the
financialperformance of the
issuer.
Turnover Tk.223,921,340 as on30.06.2013.Transanction withshatkhira feedindustry during theyear Tk.4,436,921which has nosignificance on thefinancialperformance of theissuer.
NoTransan
withYeakin
Prod
Sales or purchases do not exceed in value in the aggregate ten per cenissuer.
Page | 63
ncial statements, in respect of all the
CompanyYeakin Agro Products Limited
02/01/2008ased aqua culture with trading.-2015 2013-2014 2012-2013
24,637 12,636,529 6,339,355
00,000 500,000 500,00014,404 28,345,984 14,630,54088,107 6,297,174 1,999,300
153.76 125.94 39.99
24,637 13,136,529 6,839,355
onctionthe
n Agroucts
NoTransanction
with theYeakin Agro
Products
NoTransanction
with theYeakin Agro
Products
t of the total sales or purchases of the
14. Where the issuer is a banking company, insurance company, nonany other company which is regulated and licensed by another primary regulator, a declaration by the board of directors shall be included in the prospectus statilaws and regulatory requirements of its primary regulator have been adhered to by the issuer;
Not applicable of the company
15. A report from the auditors regarding any allotment of shares to any person for any consideration otherwise than cash along with relationship of that person with the issuer and rationale of issue price of the shares; No shares allotted to any person for anumber 32 in the prospectus
16. Any material information, which is likely to have an impact on the offering or change the terms and conditions under which the offer has been made to the public;
No material information, which is likely to have an impact on the offering or change the terms and conditions under which the offer has been made to the
17. Business strategies and future plans. Projected statement of financial position, compressive statement of income and earnings per share for the next three accounting years as per the issuers own assessment. Business Strategies:
� The Company has made efforts to diversify its products different type of bags (i.e. reusable fashionable shopping bag, Leno Bag and tarpaulin, etc.) different commodities
� Maintain state-of-thecustomers;
� The Company obtained 14001:2004 (environment management) and standardthat are proven effective;
� The company has given full emphasis to export the products in Europe, America, Africa and others country.
� Comprehensive marketing and distribution network (Both in domestic and international markets)
� Seek new ways of working to improve efficiency and ensure sustainability.� Ensure stable and long
Future plans:
In persuasion of aforesaid keeping in consideration future as well. YPL has a planned for acquisition of machineries, construction and other civil works by using IPO proceeds.
nking company, insurance company, non-banking financial institution or h is regulated and licensed by another primary regulator, a declaration by ll be included in the prospectus stating that all requirements of the relevant rements of its primary regulator have been adhered to by the issuer;
pany
s regarding any allotment of shares to any person for any consideration g with relationship of that person with the issuer and rationale of issue
person for any consideration otherwise than cash. Details tus
which is likely to have an impact on the offering or change the terms and he offer has been made to the public;
which is likely to have an impact on the offering or change the terms and he offer has been made to the public;
ure plans. Projected statement of financial position, compressive statement per share for the next three accounting years as per the issuers own
made efforts to diversify its products different type of bags (i.e. e shopping bag, Leno Bag and tarpaulin, etc.) with color and size for es for our existing and potential customers; he-art manufacturing facilities for ensuring best quality products to the
ined word class accreditation by proper execution ofnment management) and ISO Certificate 9001:2008 (ven effective;iven full emphasis to export the products in Europe, America, Africa and
rketing and distribution network (Both in domestic and international
orking to improve efficiency and ensure sustainability.ng-term return to our investors;
d Strategies YPL and its experienced team have been working insistently n future as well. YPL has a planned for acquisition of machineries, vil works by using IPO proceeds.
Page | 64
financial institution or ulator, a declaration by rements of the relevant to by the issuer;
for any consideration and rationale of issue
tails may seen at page
r change the terms and
hange the terms and
compressive statement s per the issuers own
bags (i.e. recyclable & ith color and size for
uality products to the
on of ISO Certificate (quality management)
e, America, Africa and
stic and international
y.
en working insistently sition of machineries,
Prospective financial Information (PFI) for next t
Following prospective financial information is p
(Each year calculation is made comparing with respective
The project
Assumption indicator Assumption's Basis
Plant & MachineryAddition
Plant & Machinery will be purccapacity increase.
Capacity Increase Capacity will be increased asintroduced.
Capacity utilization Capacity utilization will be almost sSales Revenue Sales revenue will be increased for
and unit price as well as introductioOperating expenses Operating expenses will be incr
production and sales. IPO expenincrease of Operating expenses in th
Fixed Asset Addition Fixed Asset will be increased in evproduction increase.
Paid up Capital Paid up Capital will be increased bIPO in the year 2016.
Dividend Dividend is not considered herpredetermined.
three years:
repared considering some assumptions.
e previous year)
ted financial statement has been prepared on underlying assumptionAssump
30-June-16 30-Junchased for the purpose of 70,000,000 63,750
new machineries will be 35.87% 24.0
same. 70-75% 70-7r increasing quality, quantityon of Export. 21% 25
reased due to increase ofnse will lead to the higherhe year 2016.
104.47% (32.9
very year for the purpose of 96,007,775 110,10
by Tk. 200,000,000 through 200,000,000 -
re as the decision is not - -
Page | 65
tions Yearsne-17 30-June-18
0,000 0
04% 0%
75% 70-75%
5% 13%
97%) 10.00%
06,219 75,570,962
- -
- -
Projected statement of financial positionfor the n
Particulars
Property & AssetsNon-current AssetsProperty, Plant & EquipmentCapital Work in ProgressCurrent AssetsInventoriesTrade ReceivableOther ReceivableAdvances, Deposits & PrepaymentsCash & Cash EquivalentTotal Assets & PropertyShareholders' Equity & LiabilitiesShareholders' EquityShare CapitalGeneral ReserveTax Holiday ReserveRetained EarningsNon-Current LiabilitiesDeferred Tax LiabilitiesLong Term Bank LoanCurrent LiabilitiesCurrent Portion of Long Term LoanShort Term Bank LoanTrade CreditorsLiabilities for ExpensesLiability for WPPFTotal shareholders’ Equity & Liabilities
Sd/-Chief Financial Officer
next three accounting years:
Audited ProjeAmount in Taka Amount in Taka Amount
30-06-2015 2016 201
398,281,284 472,091,163 54308,752,054 387,597,385 4
89,529,230 84,493,778342,207,022 536,259,312 52124,650,443 137,115,487 1106,318,616 154,161,993 2
1,452,089 1,500,00056,207,148 70,258,93553,578,727 173,222,897
740,488,306 1,008,350,475 1,0
569,919,935 833,144,164 9390,000,000 590,000,000 5
8,357,000 8,357,00024,159,453 24,159,453
147,403,482 210,627,711 333,909,322 37,710,015 221,073,267 35,461,89612,836,055 2,248,119
136,659,050 137,496,296 105,293,968 5,293,968
58,193,990 52,374,5914,597,665 5,057,432
64,336,964 70,111,1404,236,463 4,659,165
740,488,306 1,008,350,476 1,0
Sd/-Managing Director
Page | 66
ctedin Taka Amount in Taka
17 2018
47,128,054 521,953,06274,218,616 521,953,06272,909,438 -29,496,708 649,580,24857,682,810 204,987,65400,410,590 240,492,709
1,550,000 1,600,00087,823,669 100,997,21982,029,639 101,502,66676,624,762 1,171,533,309
51,278,754 1,069,080,23090,000,000 590,000,000
8,357,000 8,357,00024,159,453 24,159,45328,762,301 446,563,77724,677,207 23,730,32524,677,207 23,730,325
- -00,668,802 78,722,754
2,248,119 -36,662,214 25,663,550
5,816,046 7,270,05849,077,798 37,789,905
6,864,625 7,999,24276,624,762 1,171,533,309
Sd/-Chairman
Statement of income and earnings per share for
Particulars
Sales RevenueExportLocalLess: Cost of Goods SoldGross Profit/ (Loss)Operating ExpensesAdministrative ExpensesSelling & Distribution ExpensesFinancial ExpensesFinancial ExpensesProfit from OperationsOther IncomeProfit before Contribution to WPPF & Income TaxLess: Provision for Contribution to WPPFNet Profit/ (Loss) after Contribution toWPPF but before Provision for Income TaxLess: Income Tax Expenses:Current TaxDeferred Tax (Income)/ExpensesNet Profit/ (Loss) after Provision for Income Taxtransferred to Retained EarningsEarnings per Share (EPS)
Sd/-Chief Financial Officer
the next three accounting years:
Audited ProjeAmount in Taka Amount in Taka Amou
30-06-2015 2016 2419,920,083 508,103,300
- 152,430,990419,920,083 355,672,310306,932,915 370,661,358112,987,168 137,441,943
14,429,183 29,502,90411,026,775 25,760,256
3,402,408 3,742,64911,044,348 11,596,56511,044,348 11,596,56587,513,637 96,342,473
1,452,089 1,500,00088,965,726 97,842,473
4,236,463 4,659,165
84,729,263 93,183,30829,655,242 29,959,07819,657,463 15,570,449
9,997,780 14,388,630
55,074,021 63,224,2291.41 1.07
Sd/-Managing Director
Page | 67
ctednt in Taka Amount in Taka
2017 2018635,129,126 717,695,912190,538,738 215,308,774444,590,388 502,387,138462,310,490 520,688,384172,818,635 197,007,528
19,774,611 21,752,07215,470,565 17,017,622
4,304,046 4,734,45110,436,909 8,871,37310,436,909 8,871,373
142,607,115 166,384,0831,550,000 1,600,000
144,157,115 167,984,0836,864,625 7,999,242
137,292,490 159,984,84119,157,901 42,183,36529,942,590 43,130,246
(10,784,689) (946,882)
118,134,589 117,801,4762.00 2.00
Sd/-Chairman
q) Discussion on the results of operations:
1) A summary of the past financial results after adjustmentsas given in the auditor’s report containing significantitems of income and expenditure;
There was no significant adjustment given by the last fiveSummary of the results and operations are presented below:
Sl. No. Particulars1 Sales Revenue2 Gross Profit3 Net profit before tax4 Net Profit after tax5 Total Assets6 Share Capital7 Retained Earnings8 No. of Shares9 Face Value
10 NAV Per Share11 Earnings per Share (EPS)
2) A summary of major items of income
Major items of income:
Particulars 30-Jun-Sales Revenue 419,920,083Other Income 1,452,089
Major items of expenditure:
ParticularsCost of Goods SoldFinancial ExpenseAdministrative ExpensesSelling & Distribution Expenses
3) The income and sales on account of major products orservices;
There is only one product of the Company, which contributed to
4) In case, other income constitutes more than 10% of thetotal income, the breakup of the same along with thenature of the income, i.e., recurring or non
The Company’s other income is not more than 10% of the tota
5) If a material part of the income is dependent upon asingle customer or a few major customers, disclosureof this fact along with relevant data. significant portion ofthe issuer’s business, disclbusiness considering exchange ratefluctuations;
The Company’s income is not dependent upon a single customer or a few major customers nor foreign customer. The company had no foreign customer till 30.06.2015.
6) In case the issuer has followed any unorthodoxprocedure for recording sales and revenues, its impactshall be analyzed and disclosed.
The issuer has not followed any unorthodox procedure for recording sales and revenues.
of operations:
past financial results after adjustmentsas given in the auditor’s report titems of income and expenditure;
cant adjustment given by the last five years audited financial adjustmentts and operations are presented below:
30-Jun-15 30-Jun-14 30-Jun-13419,920,083 316,742,010 223,921,340 1112,987,168 83,648,876 60,164,592
84,729,263 60,085,193 41,256,91655,074,021 36,953,428 25,785,572
740,488,306 505,104,150 394,346,304 2390,000,000 240,000,000 169,590,000147,403,482 97,759,461 65,575,283
39,000,000 24,000,000 16,959,00010.00 10.00 10.0014.61 15.43 15.78
PS) 1.98 1.64 1.96
items of income and expenditure;
me:
-15 30-Jun-14 30-Jun-13 30-Jun-0,083 316,742,010 223,921,340 151,270,1562,089 561,302 590,547
nditure:
30-Jun-15 30-Jun-14 30-Jun-13 3306,932,915 233,093,134 163,756,748 116,675,675
11,044,348 8,600,631 7,195,78311,026,775 9,301,837 6,999,824
3,402,408 3,218,258 3,239,770
s on account of major products orservices;
oduct of the Company, which contributed to the Company’s total revenue.
me constitutes more than 10% of thetotal income, the breakup of the same e of the income, i.e., recurring or non-recurring;
r income is not more than 10% of the total income.
the income is dependent upon asingle customer or a few major customers, t along with relevant data. Similarly, if anyforeign customer constitutes a ofthe issuer’s business, disclosure of the fact along withits impact on the
exchange ratefluctuations;
me is not dependent upon a single customer or a few major customers nor he company had no foreign customer till 30.06.2015.
as followed any unorthodoxprocedure for recording sales and revenues, its zed and disclosed.
llowed any unorthodox procedure for recording sales and revenues.
Page | 68
n the auditor’s report
d financial adjustment.
30-Jun-12 30-Jun-1151,270,156 148,427,41534,594,481 29,614,80718,391,285 17,023,22511,494,553 10,639,516
238,060,614 182,549,06696,100,000 60,000,00048,763,250 46,878,697
9,610,000 6,000,00010.00 10.0017.59 21.84
1.20 1.77
-12 30-Jun-110,156 148,427,415
- 5,428
0-Jun-12 30-Jun-1116,675,675 118,812,608
6,593,848 4,798,3775,656,769 4,722,112
2,984,616 2,225,360
mpany’s total revenue.
e breakup of the same
a few major customers, customer constitutes a withits impact on the
w major customers nor .
sales and revenues, its
s and revenues.
r) Comparison of recent financial year with the previousfinancial years on the major heads of the profit and lossstatement, including an analysis of reasons for the changesin significant items of income and expenditure, inter-alia, containing
ParticularsSales RevenueLess: Cost of Goods SoldGROSS PROFITLess: Operating ExpenseFinancial ExpenseProfit from OperationsOther IncomeProfit before Contribution to WPPF & before Tax Less: Provision for WPPFNET PROFIT BEFORE TAXLess: Tax Holiday ReservePROVISION FOR TAXDeferred Tax ExpenseNET PROFIT AFTER TAX
Analysis of reasons for the changes in significant items of income and expenditure
In the last few years, production capacityresult significant revenue has been increased
FDR interest has been increased in the year 2015.
1) Unusual or infrequent events or transactions including unusual trends on account of busines
activity, unusual items of income, change of accounting policies and discretionary reduction of expenses etc.
Thereare no unusual or infrequent eventsof business activity, unusual items of income, and discretthere is change in accounting policies regarding30.06.2015. Details as follows:
As per IAS-7,Para-31 560 in the note 3.16 of the financial statements stating “Cash payment for financial expenses has been considered as a cash flow from financoperating activities and comparative amount has been reof Cash Flows.”
2) Significant economic changes that materially affector are likely to affect income from
continuingoperations;
There are no significant economic changes that materially affect or are likely to affect income from continuing operations.
3) Known trends or uncertainties that have had or areexpected to have a material adverse impact on sales, revenue or income from continuing operations;
There are no known trends, events and/or uncertainties that shall have a material impact on the company’s future business except for those which are naturally beyond control of human being.
4) Future changes in relationship between costs andrevenues, in case of events such as future increase inlabor or material costs or prices that will cause amaterial change are known;
We are aware of the fact that future is always uncertain that affect business and plan as well. So in future labor price or material price may change. However, revenue is always adjusted and follows the trend in line with production cost. Hence, any changeprice.
ncial year with the previousfinancial years on the major heads of the profit ng an analysis of reasons for the changesin significant items of income and ntaining the following:
30-Jun-15 30-Jun-14 30-Jun-13 30419,920,083 316,742,010 223,921,340 151,270,156306,932,915 233,093,134 163,756,748 116,675,675112,987,168 83,648,876 60,164,592 34,594,481
14,429,183 12,520,095 10,239,594 811,044,348 8,600,631 7,195,783 687,513,637 62,528,150 42,729,215 19,359,248
1,452,089 561,302 590,547o 88,965,726 63,089,452 43,319,762 19,359,248
4,236,463 3,004,259 2,062,84684,729,263 60,085,193 41,256,916 18,391,285
- - -19,657,463 21,029,817 15,471,344 6
9,997,780 2,101,948 -55,074,021 36,953,428 25,785,572 11,494,553
changes in significant items of income and expenditure
duction capacity has been increased byinstallation of has been increased in the year 2015.
reased by 159%, as a result the amount of other income has been increased
nt events or transactions including unusual trends on account of businesms of income, change of accounting policies and discretionary reduction of
or infrequent events or transactions including unusual trends on account nusual items of income, and discretionary reduction of expenses. However,
ccounting policies regarding Statements of Cash Flowss follows:
which was disclosed in the other matter of the auditors’ report of the financial statements stating “Cash payment for financial expenses
as a cash flow from financing activities which was previously considered as nd comparative amount has been re-arranged accordingly in the Statement
c changes that materially affector are likely to affect income from ;
ant economic changes that materially affect or are likely to affect income ations.
ertainties that have had or areexpected to have a material adverse impact ncome from continuing operations;
rends, events and/or uncertainties that shall have a material impact on the iness except for those which are naturally beyond control of human being.
elationship between costs andrevenues, in case of events such as future aterial costs or prices that will cause amaterial change are known;
fact that future is always uncertain that affect business and plan as well. So or material price may change. However, revenue is always adjusted and
ne with production cost. Hence, any change in cost will be reflected in sales
Page | 69
ajor heads of the profit nt items of income and
-Jun-12 30-Jun-11,270,156 148,427,415
6,675,675 118,812,6084,594,481 29,614,8078,641,385 6,947,4726,593,848 4,798,3779,359,248 17,868,958
- 5,428
9,359,248 17,874,386
967,963 851,1618,391,285 17,023,225
- -6,896,732 6,383,709
- -,494,553 10,639,516
ture:
f new machinery. As a
ome has been increased
on account of businesscretionary reduction of
sual trends on account of expenses. However, ws for the year ended
tors’ report under BSA: for financial expenses
reviously considered as dingly in the Statement
affect income from
likely to affect income
material adverse impact
material impact on the ntrol of human being.
events such as future ge are known;
ess and plan as well. So is always adjusted and
will be reflected in sales
5) The extent to which material increases in net sales orrevenue are due to increased sales volumeintroduction of new products or services or increasedsales prices;
We are expecting the increased net sales or revenue because of sales volume, new product line and sales price.
6) Total turnover of each major industry segment inwhich the issuer operated;
The overall investment in Bangladesh’s WPP bags manufacturing sectobillion. Currently, the sector is growing at 20 percent yearthan Tk. 25.5 billion. At present, Bangladesh annually exports around 9,000 tons of WPP bags, which earn foreign exchange revenue of nearlBangladesh Plastic Goods Manufacturers and Exporters Association (BPGMEA).
7) Status of any publicly announced new products orbusiness segment;
The Company did not announce new products or business segment.
8) The extent to which the business is seasonal.
We do business round the year. Our products are used in Plastics & PolIndustry, Chemical Industry, and Textile Industry during the whole year. Hence, there is no seasonal extent.
s) Defaults or rescheduling of borrowings with financial
equity alongwith reasons thereof, lock out, strikes and reasons for thesame etc.
The Company neither defaulted or rescheduled nor converted any of its loans into equity till to date
t) Details regarding the changes in the activities of the issuerduring the last five years which may had a material effecton the profits/loss, including discontinuance of lines markets and similar factors;
There were no changes in the activities of the Company during the last five years material effect on the profits/loss, including discontinuance of lines of business, loss of agmarkets and similar factors.
u) Injunction or restraining order, if any, with possibleimplications;
There was no injunction or restraining order from any Court of Law or competent authority
v) Technology, market, managerial competence and
The Company has been using Extrusion Technology. Plastics extrusionmanufacturing process in which rawthe Company has good opportunity to maximize market share. Currently, the percent.The management has been involved in producing PP Woven bag since 2003. Hence, managements are capable enough to deal with enhancing the capacity of the overall phenomenon of the business capacity.
w) Changes in accounting policies in the last three years;
The management of the company has not changed any accounting policies in the last threeexcept presentation of Stateother matter of the amended the note 3.16 of the financial statements stating “Cash payment for financial expenses has been considered as a cash flow from financing activities which was previously considered as operating activities and comparative amount has been rFlows.”
material increases in net sales orrevenue are due to increased sales volumeproducts or services or increasedsales prices;
increased net sales or revenue because of sales volume, new product line
h major industry segment inwhich the issuer operated;
nt in Bangladesh’s WPP bags manufacturing sectore sector is growing at 20 percent year-on-year with annual sales of more
At present, Bangladesh annually exports around 9,000 tons of WPP bags, exchange revenue of nearly US$ 100 million for the country, as per ods Manufacturers and Exporters Association (BPGMEA).
announced new products orbusiness segment;
announce new products or business segment.
he business is seasonal.
d the year. Our products are used in Plastics & Polyndustry, and Textile Industry during the whole year. Hence, there is no
of borrowings with financialinstitutions/banks, conversion of loans into thereof, lock out, strikes and reasons for thesame etc.
faulted or rescheduled of its borrowings with financial ans into equity till to date.
nges in the activities of the issuerduring the last five years which may had a fits/loss, including discontinuance of lines ofbusiness, loss of agencies or rs;
the activities of the Company during the last five years fits/loss, including discontinuance of lines of business, loss of ag
rs.
order, if any, with possibleimplications;
r restraining order from any Court of Law or competent authority
agerial competence and capacitybuilt-up;
n using Extrusion Technology. Plastics extrusionwhich raw plastic is melted and formed. Market has been growing up and portunity to maximize market share. Currently, the shas been involved in producing PP Woven bag since 2003. Hence, enough to deal with enhancing the capacity of the overall phenomenon of
licies in the last three years;
company has not changed any accounting policies in the last threeatements of Cash Flows as per IAS-7, Para-31 whichded auditors’ report for the year ended 30th June 2015ancial statements stating “Cash payment for financial expenses has been w from financing activities which was previously considered as operating ve amount has been re-arranged accordingly in the Statement of Cash
Page | 70
ncreased sales volume,
ume, new product line
d;
has surpassed Tk. 25 h annual sales of more 000 tons of WPP bags, r the country, as per
MEA).
ymer Industry, Cement ar. Hence, there is no
nversion of loans into
cial institutions/banks
years which may had a ess, loss of agencies or
ars which may had any ess, loss of agencies or
tent authority.
on is a high-volume s been growing up and sector is growing at 20 ince 2003. Hence, the overall phenomenon of
in the last three years h was disclosed in the
015 under BSA: 560 in ial expenses has been
onsidered as operating he Statement of Cash
x) A statement by the directors
In our opinion,there have as disclosed in the prospectus which materially and adversely affect or is likely to affectthe trading or profitability of the Yeakin Polymer Limitedwithin the nexttwelve months.
Sd/- Quazi Anwarul Haque Chairman & Director
Sd/-Julia Parvin Director
Sd/-Sk. Jamil Hossain Director Nominee of Yeakin Agro Products Limited
Sd/-Siddiqur Rahman Independent Director
y) If any quarter of the financial year of the issuer ends afterthe period ended in the audited financial statements asdisclosed in the prospectus,unaudited financial statements for each of the said quartersduly authenticated by the CEO and CFO of the issuer;
Year-end duly authenticated audited financial
z) Factors that may affect the results of operations.
If Government imposes further restrictions to use of PP woven Bags may affect the result of operations. Besides, factors like entrance of new technology increase of competition can also affect the business.
rs:
no such circumstances arisen since the date of thelast financial statements ctus which materially and adversely affect or is likely to affectthe trading or
Polymer Limited or the value of itsassets, or its ability to pay its liabilnths.
Sd/-S.M Akter Kabir
Managing Director & Director
Quazi Nazibul Haque
Mrs. Sabrina Samsad
roducts
Dr. S.M Maniruzzaman
Nominee of Satkhira Feed Industries Limited
Khandaker Abdul MabudIndependent Director
ncial year of the issuer ends afterthe period ended in the audited financial n the prospectus,unaudited financial statements for each of the said d by the CEO and CFO of the issuer;
ed audited financial statements have been incorporated in the prospectus.
e results of operations.
further restrictions to use of PP woven Bags may affect the result of rs like entrance of new technology increase of competition can also affect
Page | 71
ast financial statements y to affectthe trading or lity to pay its liabilities
Sd/- Nazibul Haque
Director
Sd/-abrina Samsad
Director
Sd/-Maniruzzaman
Director ustries Limited
Sd/-r Abdul Mabudndent Director
n the audited financial for each of the said
ted in the prospectus.
y affect the result of petition can also affect
CHAPTER (VII): MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULT OF OPERATIONS
a) Overview of business and strategies:
Yeakin Polymer Limited is a (former Yeakin Business Limited) was incorporated in Bangladesh on 8Limited Company. It May be noted here that the company was converted into a Private Limited Company on 10thNovember, 2003 and again it was reThe Name of the Company was changed on 15Polymer Limited. The Company has obtained commencement certificate on 8its commercial operation on 15
The registered office of the coManhattan Tower (6th Floor) Malibagh, DhakaKhulna in the southwest region of Bangladesh.
The principal activities of the company are to carry on the business of manufacturing and marketing (local & export) of PP woven regular bags [laminated & unattach bag, Jumbo/FIBC bag and HDPE/LDPE liner in differentused for bagging, food grain, onion, potato, pulse, dates, powder milk, flex, fruits, poultry and fish feeds and other customer items. The bags and sacks as well as our woven fabric are very strong, durable, attracthe most competitive price. We are already being named with a reputation of meeting up the customer specification of the products for size, capacity, mesh, gusset, denier, color, printing, auto
We have been using state of the art plants and machinery from China, Taiwan throughout the whole process.
The management has always been competent enough to keep the plant out of any hindrance to production and maintained the delivery manufacturing yarn from ThermoLamination of PP Woven Fabric and sewing then printing as finished product. The Company has been using state of the art plants and machinery from worldChina, Taiwan throughout the whole process.
To ensure uninterrupted power supply, besides the national power grid, the capacity captive power source U.S.A brand generator unit to meet up the huge demandquality control is maintained at every sadaptable working environment for the workers. Our company also oand ISO 9001:2008 from Bureau of Assessment Services.
T’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
tegies:
Polypropylene (PP) Woven bagging industry. Yeakin Polymer Limited ited) was incorporated in Bangladesh on 8thFebruary, 2001 as a Public oted here that the company was converted into a Private Limited Company gain it was re-converted into a Public Limited Company on 15s changed on 15thDecember, 2010 from Yeakin Business Limited y has obtained commencement certificate on 8th February, 2001 and started 5th July, 2003.
ompany is located in a rented premises at 83, SiddhMalibagh, Dhaka-1217. Our manufacturing unit is situated at Satkhira
n of Bangladesh.
company are to carry on the business of manufacturing and marketing n regular bags [laminated & un-laminated], BOPP film/Sack and HDPE/LDPE liner in different size, color, denier, mash. onion, potato, pulse, dates, powder milk, flex, fruits, poultry and fish feeds
our woven fabric are very strong, durable, attractive, and are offered with We are already being named with a reputation of meeting up the customer or size, capacity, mesh, gusset, denier, color, printing, auto
the art plants and machinery from companies of India (Lohia Starliwhole process.
s been competent enough to keep the plant out of any hindrance to he delivery schedule in time. The production process has three phasesermo Plastic Molding Compound (TPMC), weaving fabrics from yearns, ric and sewing then printing as finished product. The Company has been nd machinery from world- renowned companies of India (Lohia Starlinger)
whole process.
er supply, besides the national power grid, the Company e U.S.A brand generator unit to meet up the huge demand
d at every stage of the production process.The factory has a very easily nt for the workers. Our company also obtained certificate ISO 14001:2004 eau of Assessment Services.
Page | 72
AL CONDITION AND
eakin Polymer Limited ary, 2001 as a Public ivate Limited Company any on 15thMay, 2012. iness Limited to Yeakin uary, 2001 and started
heswari Circular Road, is situated at Satkhira,
cturing and marketing film/Sack Kraft paper
er, mash. The bags are poultry and fish feeds
e, and are offered with eeting up the customer , auto-filling, etc.
ndia (Lohia Starlinger),
of any hindrance to cess has three phases–g fabrics from yearns, he Company has been ndia (Lohia Starlinger)
any has installed 100% demand. The stringent tory has a very easily ficate ISO 14001:2004
b) SWOT ANALYSIS:
A SWOT analysis is a structured planning method that helps to evaluate the strengths, weaknesses, opportunities and threats involved in a business venture. It identifies the internal and external factors that affect business venture. Strength and Weakness are evaluated with internal factors whereas Opportunity and threat are evaluated by external factors. Yeakin Polymer SWOT an
Strengths
1. Brand loyalty: Our products got popularity among our customers and the company has a strong brand loyalty of their customers.
2. Modern Machineries: We have been using modern machineries that increase our productivity. 3. Market Share: We have good market share of PP Woven 4. Strong distribution channels:
smoothly supply our products. 5. Good Financial Performance:
growth from 2011 to 2015. From 2011 to 20156. Application of Corporate Govern
Weaknesses 1. Unskilled workers: We have huge manpower in the industry.
they are unskilled that reduced the high productivity of manpower.
Opportunity 1. Cheap Labor: Our industry is labor
minimizing that helps us competitive edge over our competitor. 2. Favorable Zone: The Company
business. Threat
1. Government restrictions to use of PP woven Bagsuse of PP woven Bags for rice, paddy, sugar, maize, fertilizer and wheat. Now, the company iproducing PP woven BagsPP woven Bags may affect the result of operations.
2. Entrance of new technology
3. Increase Competition: There is rivalry among the competitors to get the market share as maximum as possible.
4. Political Unrest:In our country we have to
Strength
1. Brand loyalty2. Modern Machineries3. Market Share4. Strong distribution channels5. Good Financial Performance6. Application of Corporate Govern
Opportunity
1. Cheap Labor2. Favorable Zone
ured planning method that helps to evaluate the strengths, weaknesses, olved in a business venture. It identifies the internal and external factors
Strength and Weakness are evaluated with internal factors whereas aluated by external factors. Yeakin Polymer SWOT an
ts got popularity among our customers and the company has a strong brand
have been using modern machineries that increase our productivity. od market share of PP Woven Bag in local and foreign market.els: We have very strong distribution channels through which we can
ucts. ce: Sales growth from 2011 to 2015 has been double and so i5. From 2011 to 2015 debt to equity ratio has been decreasing trend.Governance: The Company to comply the Corporate Governa
ave huge manpower in the industry. It is good for our business. However, duced the high productivity of manpower.
stry is labor-intensive and cheap labor has huge advantage for cost competitive edge over our competitor. pany factory is located at Satkhira which is friendly z
to use of PP woven Bags:RecentlyGovernment has imposed restrictions on r rice, paddy, sugar, maize, fertilizer and wheat. Now, the company isfor the said items. If the Government imposes furthethe result of operations.
gy:In industrial sector entrance of new technology is always a threat
ere is rivalry among the competitors to get the market share as maximum as
untry we have to face with political unrest.
Weakness
1. Unskilled Workers
elsce
Governance
Threat
1. Government restrictions to use of PP woven Bags2. Entrance of new technology3. Increase Competition 4. Political Unrest
Page | 73
strengths, weaknesses, al and external factors ernal factors whereas nalysis is as follows.
any has a strong brand
ur productivity. n market.hrough which we can
e and so is profitability ecreasing trend.
Governance Guideline.
our business. However,
ge advantage for cost
zone in terms of doing
mposed restrictions on w, the company is not er restrictions to use of
always a threat.
t share as maximum as
se of PP woven Bags
c) Analysis of the financial statements of last five years with reason(s) of fluctuating income, total income, cost of material, finance cost, depreciation and amortization expense, other expense; changes of inventories, net profit before & after tax, EPS etc.
Particulars 30-JunSales Revenue 419,920,083Less: Cost of Goods Sold 306,932,915GROSS PROFIT 112,987,168Less: Operating Expense 14,429,183Financial Expense 11,044,348Profit from Operations 87,513,637Other Income 1,452,089Profit before Contribution to WPPF & before Tax 88,965,726
Less: Provision for WPPF 4,236,463NET PROFIT BEFORE TAX 84,729,263Less: Tax Holiday ReservePROVISION FOR TAX 19,657,463Deferred Tax Expense 9,997,780NET PROFIT AFTER TAX 55,074,021EPS 1.98
Reason of Fluctuation:Revenue: The company installed modern machineries in last five years in order to increase production capacity. As a result, production increased as well as turnover increased. Through installation of new different types of modern looms, the company has been able tomarket of new products in wide area in the whole country. In addition, the growth of this sector is almost 20% in every year for the last few years. So increase of turnover of the company is rel
Other Income: Other income has been generating from FDR. In the income year 2010income Tk. 5,428 (Five thousand Four Hundred TwentyAccounts with Islami Bank Bangladesheach in the income year 2012-2013 and earned Interest Income amounting Tk. 590,547 with Islami Bank Bangladesh Limited. Two FDR were closed almost the end of the year in the income year Interest income earned was little bit shorter than previous year. In the income year 2014opened 7 FDR for total Tk. 3,30,0000 (Three Crore thirty lac.) with Bank Asia. So the total FDR amount stands Tk. 380,00,000 and the interest income increases remarkably.
Total Income: Since Revenue and other income increased, so naturally total income increased.
Cost of Materials: We think the costs of materials to revenue are consistent over the years.
Finance Cost: The company has taken short term and long term loan from bank in last five years for importing raw materials and also procuring new machineries. So the finance cost increased and the trend is relevant to the production and also consistent with the revenue.
Depreciation and Amortization: We think the increase of depreciation is relevant with the procurement and installation of machineries. No significant changes have been occurred.The company did not amortize any of its capital expenditure during the last five years.
Other Expenses: The company did not incur any other expenses other than regular expenses during the last five years
Changes of inventory: The company procured more raw materials in 2011increase the production capacity. Thinking on the political instability in our country during the year 20132014, the management of the company advised to procure more raw materials to continue the smooth production and maintain the supply. As a result, inventory increa2015. Except those two years, inventory level was relevant in all other years with the production.
nts of last five years with reason(s) of fluctuating erial, finance cost, depreciation and amortization expense, other expense; efore & after tax, EPS etc.
un-15 30-Jun-14 30-Jun-13 30-Jun920,083 316,742,010 223,921,340 151,270,156932,915 233,093,134 163,756,748 116,675,675,987,168 83,648,876 60,164,592 34,594,481,429,183 12,520,095 10,239,594 8,641,385,044,348 8,600,631 7,195,783 6,593,848,513,637 62,528,150 42,729,215 19,359,248,452,089 561,302 590,547
,965,726 63,089,452 43,319,762 19,359,248
,236,463 3,004,259 2,062,846 967,963,729,263 60,085,193 41,256,916 18,391,285
- - -,657,463 21,029,817 15,471,344 6,896,732,997,780 2,101,948 -,074,021 36,953,428 25,785,572 11,494,55398 1.64 1.96 1.20
achineries in last five years in order to increase production capacity. As a ell as turnover increased. Through installation of new different types of been able to produce different types of products as well as to create the
area in the whole country. In addition, the growth of this sector is almost years. So increase of turnover of the company is relevant.
g from FDR. In the income year 2010-2011, the company earned interest d Four Hundred Twenty-Eight) only from SND (Short Notice Deposit) desh Limited. The company opened three FDR for Tk. 50,00,000 (Fifty Lac.) 13 and earned Interest Income amounting Tk. 590,547 with Islami Bank re closed almost the end of the year in the income year it shorter than previous year. In the income year 201400 (Three Crore thirty lac.) with Bank Asia. So the total FDR amount stands come increases remarkably.
ncreased, so naturally total income increased.
evenue are consistent over the years.
rm and long term loan from bank in last five years for importing raw machineries. So the finance cost increased and the trend is relevant to the
h the revenue.
tion is relevant with the procurement and installation of machineries. No urred.
of its capital expenditure during the last five years.
her expenses other than regular expenses during the last five years
materials in 2011-2012 than that of in 2010-2011 for taking initiative to Thinking on the political instability in our country during the year 2013
ompany advised to procure more raw materials to continue the smooth ly. As a result, inventory increased more in the year 2013ntory level was relevant in all other years with the production.
Page | 74
g revenue/sales, other xpense, other expense;
n-12 30-Jun-110,156 148,427,4155,675 118,812,6084,481 29,614,8071,385 6,947,4723,848 4,798,3779,248 17,868,958
- 5,428
9,248 17,874,386
7,963 851,1611,285 17,023,225
- -6,732 6,383,709
- -4,553 10,639,516
1.77
oduction capacity. As a new different types of s well as to create the of this sector is almost
vant.
mpany earned interest Short Notice Deposit) 50,00,000 (Fifty Lac.)
,547 with Islami Bank e year 2013-2014. So 14-2015, the company otal FDR amount stands
ars for importing raw trend is relevant to the
on of machineries. No
last five years
for taking initiative to during the year 2013-
o continue the smooth 2013-2014 and 2014-roduction.
Net profit before and after Tax and Earning per shareWe think that the growth of net profit before and after tax alrevenue. No unusual changes have been occurred during the last five years on the above matters.
d) Known trends, demands, commitments, events or uncertainties that are likely to have an effect on the company’s business:
There are no known trends, demands,company’s business except for those which are naturally beyond control of human being.
e) Trends or expected fluctuations in liqu
There are no trends or expected fluctuations in liquidity.
f) Off-balance sheet arrangements those have or likely to have a current or future effect on financial condition:
There are nooff-balance sheet arrancondition.
Earning per shareofit before and after tax along with EPS is consistent with the growth of the been occurred during the last five years on the above matters.
ments, events or uncertainties that are likely to have an effect on the
nds,commitments, events or uncertainties are likely to have an effect on the e which are naturally beyond control of human being.
liquidity:
uctuations in liquidity.
ose have or likely to have a current or future effect on financial condition:
ngements those have or likely to have a current or future effect on financial
Page | 75
with the growth of the e matters.
have an effect on the
o have an effect on the g.
n financial condition:
ture effect on financial
CHAPTER (VIII): DIRECTORS AND OFFICERS
a) Name, Father’s Name, age, Residential address, Educorganization name:
b) Date of first Directorship and Expiry of Current Tenu
SL. Name of the Director1 Quazi Anwarul Haque2 S.M. Akter Kabir3 Quazi Nazibul Haque
4 Dr. S. M ManiruzzamanNominee of Satkhira Feed Industries Ltd.
5 Sk. Jamil HossainNominee of Yeakin Agro Products Ltd.
6 Mrs. Julia Parvin7 Mrs. Sabrina Samsad8 Siddiqur Rahman9 Khandaker Abdul Mabud
Sl.No. Name Father’s Name
1 Quazi Anwarul Haque Quazi Rahmatul Haq
2 S.M Akter Kabir Late, Khalilur Rahma
3 Quazi Nazibul Haque Quazi Rahmatul Haq
4Dr. S. M ManiruzzamanNominee ofSatkhira Feed Industries Ltd.
S.M.A Haque
5Sk. Jamil HossainNominee ofYeakin Agro Products Ltd.
SK Abdul Mazed
6 Mrs. Julia Parvin Shaikh Abdul Mazed
7 Mrs. Sabrina Samsad SK Abdul Khaleq
8 Siddiqur Rahman Late, Nurul Islam
9 Khandaker Abdul Mabud Late, Khandaker AbdHamid
cational qualification, experience and position of each director and nomin
ure of the directors:
Position Date of first DirectorshipChairman 08-02-2001
Director & MD 08-02-2001Director 31-12-2010
Director 15-03-2015
Director 15-03-2015
Director 30-12-2014Director 15-03-2015
Independent Director 30-12-2014Independent Director 10-02-2016
Age(Yaer) Residential address Educational
Qualification
que 55 3/A, 13/19, Sir Syed Road, MohammadpurDhaka. M.Com
an 57 23, R.K Mission Road, Wari, Motijheel, Dhaka. M.Com
que 63 House No. 45, Road No. 4/A, Dhanmondi R/A,Dhaka.
Bachelor inCivil
Engineering
58 Vill: Sutfa, P.O: U.A Khalia, Gopalganj. MBBS
56 Vill: Jhikra, P.O & P.S: Kalaroa, Satkhira. BA
d 45 Vill: Sutfa, P.O: U.A Khalia, Gopalganj. B.Sc
43 House No. 45, Road No. 4/A, Dhanmondi R/A,Dhaka. BA
68 8/1, Block-D, Lalmatia, Dhaka M.Sc
dul 66 House No-321, Road No-03, Sonadanga R/A(2nd Phase). Khulna -9000.
M. Com.(Accounting)
Page | 76
nated director with nomination period,
Date of Expiration of Current term29-12-201714-12-201814-12-2018
14-03-2018
14-03-2018
14-12-201814-03-201829-12-201709-02-2019
Experience(Years) Position
Nomination
period
27 Chairman 3 Years
28 ManagingDirector 5 Years
34 Director 3 Years
26 Director 3 Years
27 Director 3 Years
04 Director 3 Years
8 Director 3 Years
37 IndependentDirector 3 Years
39 IndependentDirector 3 Years
c) Name of Interest in other business/organization of directors:
Name &Designation in YP
Quazi Anwarul Haque Chairman
S.M. Akter Kabir Director & Managing Director Quazi Nazibul HaqueDirector Dr. S. M ManiruzzamanDirector Nominee of Satkhira Feed Industries Ltd.Sk. Jamil HossainDirector Nominee of Yeakin Agro Products Ltd.Mrs. Julia ParvinDirector Mrs. Sabrina SamsadDirector Siddiqur RahmanIndependent Director Khandaker Abdul MabudIndependent Director
d) Statement of if any Directors of the issuer are associated with the securities market in any manner and any director of the issuer company is also director of any issuer of other listed securities during last three years with dividend payment history and market performa
None of the Directors of the issuer are associate withof the isuer company is also director of any issuer of other listed securities during last three years.
e) Family relationship (father, mother, mother, spouse’s brother, spouse’s sister) among the directors and top five officers:
i. Family relationship among directorsSL Name D
1 Quazi Anwarul Haque C
2 Quazi Nazibul Haque
3 Dr. S. M Maniruzzaman N
4 Sk. Jamil Hossain N
5 Mrs. Julia Parvin
6 Mrs. Sabrina Samsad
ii. Family relationship among directors and top five officers of the company:
There is no family relationship exist between directabove.
f) Brief description of other businesses of the directors:
Sl. No. Name of Companies
1 Satkhira Feed Industries Limited (Pvt.)
2 Yeakin Agro Products Ltd.(Pvt.)
3 R. R. Enterprise (Sole Proprietorship)
ness/organization of directors:
PL Directorship/Ownership with other companies
Satkhira Feed Industries LimitedYeakin Agro Products Limited
R.R Enterprise Satkhira Feed Industries LimitedYeakin Agro Products Limited
Satkhira Feed Industries Limited
Ltd.-
d.Satkhira Feed Industries Limited
-
-
-
-
of the issuer are associated with the securities market in any manner and pany is also director of any issuer of other listed securities during last three history and market performance:
suer are associate with the securities market in any mannerrector of any issuer of other listed securities during last three years.
mother, spouse, brother, sister, son, daughter, spouse’s father, spouse’s use’s sister) among the directors and top five officers:
ong directorsesignation Relationships
Chairman Younger brother of Engineer Quazi Nazibul Haquelaw of Mrs. Sabrina Samsad.
Director Elder brother of Quazi Anwarul Haque & Husband of Mrs. Sabrina Samsad.
Nominee Director Husband of Mrs. Julia Parvin & brother-in-
Nominee Director
Brother of Mrs. Julia Parvin& brotherManiruzzaman.
Director Wife of Dr. S.M. Maniruzzaman & sister of
Director Wife of Quazi Nazibul Haque and sister-inHaque.
ong directors and top five officers of the company:
ationship exist between directors and top five officers
nesses of the directors:
nies Nature of Business
dustries Produce Fish feed, Poultry feed and other animal feed.
(Quazi Anwarul HaqKabir, QuaziNazibul Haque and Sk.
cts Ltd. Agro based aqua culture with trading. (Quazi Anwarul Haque
A professional indenting & trading house
Page | 77
r Position
Chairman
Propritor
Director
Director
-
Director
-
-
-
-
ket in any manner and urities during last three
manner and no director ast three years.
ouse’s father, spouse’s
ul Haque and brother-in-
Husband of Mrs. Sabrina
-law of Sk. Jamil Hossain.
r-in-law of Dr. S. M
f Sk. Jamil Hossainn-law of Quazi Anwarul
cers except mentioned
Status
Common Directorship warul Haque, S. M. Akter aziNazibul Haque and Sk.
Jamil Hossain)Common Directorship
Anwarul Haque and S. M. Akter Kabir)
Propritor(Quazi Anwarul Haque)
g) Short bio-data of each director:
Quazi Anwarul Haque:
Quazi Anwarul Haque, S/O-QDhaka. He is a Bangladeshi National and was born on 25.01.1962. He completed his M.Com (Accounting) degree from Dhaka University and passed C.A (Inter) from ICAB. HBPGMEA; Chairman of pp woven sack manufactures standing committee under BPGMEA, memNational Jute act advisory committee, member FBCCI, Director HARDCO International School. From the inception he is the chairman of Yeakin Polymer Ltd. and under his leadership established other three organizations Satkhira Feed Industries Ltd. for prodProducts Ltd. fish culture & boiler chicken rMr. Haque has visited several times to India, Singapore, Thailand, Hong Kong, Taiwan, China, MalaysiSouth Korea, Japan, Europe and UAE
S.M. Akter Kabir:
S.M Akter Kabir, S/o- Late Khalilur Rahman, Address: 23, R.K Mission Road, Wari, Motijheel, Dhaka, is a Bangladeshi national and was born on 08.07.1959. He completeDhaka University. He has been engaged in trading and manufacturing business for a long time.travelled India, Malaysia, Singapore, Thailand, UAE, Vietnam
Quazi Nazibul Haque:
Quazi Nazibul Haque S/O- QR/A, Dhaka. Nationality: Bangladeshi. Quazi Nazibul Haque completed his B.Sc Civil Engineering degree from Rajshahi Engineering College. He retired as “Superintendent EnginDepartment of Bangladesh Government. After his retirement he engaged this business.
Dr. S. M Maniruzzaman:
Dr. S.M Maniruzzaman, S/OManiruzzaman completed his MBBS degree in 1985 from Shercompletion of MBBS degree and internship he served as a physician under health dept of Bangladesh Govt. In the year 1996 he was appointed as a regPetroleum Company, Kuwait. P
Sk. Jamil Hossain:
Sk. Jamil Hossain, S/O- Sk. Abdul Majed of Address: Vill: Jhikra, P.O & P.S: Kalaroa, Satkhira. He completed Bachelor Arts degree from Satkhira.
Ms. Julia Parvin:
Ms. Julia Parvin, W/O- Dr. S.M Maniruzzaman, Address: Vill: Sutfa, P.O: U.A Khalia, Gopalganj, Nationality: Bangladeshi. She is a B.Sc. Degree holder. She has been engaged with Business for a long time. She frequently travels Bangladesh and Kuwait for business Purpose.
Mrs. Sabrina Samsad:
Mrs. Sabrina Samsad, W/O-QR/A, Dhaka, Nationality: Bangladeshi. She is a BA Degree holder. She has been engaged with Business for a long time. Siddiqur Rahman(Independent Director)
Siddiqur Rahman, Son of Late: Nurul Islam of Address: Master of Science (M.Sc.) in Agriculture from Reading University, United Kingdom in 1990. He retired as Additional Director, Department of Agricultural Extension. He travelled many Countries for training and business purpose. Khandaker Abdul Mabud (Independent Director):
Khandaker Abdul Mabud, Son of Late: Khandaker Abdul Hamid of Address: House NoSonadanga R/A (2nd Phase). Khulna Commerce (M. Com.) in Accounting. After completion Master degree he joined in Bangladesh Agriculture Development Corporaregional chief in Audit and Accounts Department.
r:
Quazi Rahmatul Haque, Addres: 3/A, 13/19, Sir Syed Road, Mohammadpur i National and was born on 25.01.1962. He completed his M.Com
haka University and passed C.A (Inter) from ICAB. Hwoven sack manufactures standing committee under BPGMEA, memmmittee, member FBCCI, Director HARDCO International School. From the
of Yeakin Polymer Ltd. and under his leadership established other three ndustries Ltd. for production of fish, shrimp & poultry feed, Yeakin Agro oiler chicken rearing house, RR Enterprise – an indenting & trading house. times to India, Singapore, Thailand, Hong Kong, Taiwan, China, Malaysid UAE in connection with the business.
alilur Rahman, Address: 23, R.K Mission Road, Wari, Motijheel, Dhaka, is a s born on 08.07.1959. He completed M.Com (Accounting) degree from en engaged in trading and manufacturing business for a long time.apore, Thailand, UAE, Vietnam in connection with his business.
Quazi Rahmatul Haque, Address: House No. 45, Road No. 4/A, Dhanmondi gladeshi. Quazi Nazibul Haque completed his B.Sc Civil Engineering degree llege. He retired as “Superintendent Engineer” from “Roads and Highway” vernment. After his retirement he engaged this business.
- S.M. A Haque, Address: Vill: Sutfa, P.O: U.A Khalia, Gopalganj.MBBS degree in 1985 from Sher-e-Bangla Medical College, Barishal. After
and internship he served as a physician under health dept of Bangladesh s appointed as a regular physician at MAB Hospital under Kuwait National Presently he is residing in Bangladesh.
Abdul Majed of Address: Vill: Jhikra, P.O & P.S: Kalaroa, Satkhira. He ee from Satkhira.
S.M Maniruzzaman, Address: Vill: Sutfa, P.O: U.A Khalia, Gopalganj, is a B.Sc. Degree holder. She has been engaged with Business for a long ngladesh and Kuwait for business Purpose.
Quazi Nazibul Haque, Address: House No. 45, Road No. 4/A, Dhanmondi ladeshi. She is a BA Degree holder. She has been engaged with Business for
t Director):
e: Nurul Islam of Address: 8/1, Block-D, Lalmatia, Dhaka. He Completed griculture from Reading University, United Kingdom in 1990. He retired as ent of Agricultural Extension. He travelled many Countries for training and
ependent Director):
of Late: Khandaker Abdul Hamid of Address: House NoKhulna -9000. His date of birth is 06.02.51. He Completed Master of
ccounting. After completion Master degree he joined in Bangladesh poration (BADC) in Audit Department. At the time of retiremecounts Department.
Page | 78
d Road, Mohammadpur completed his M.Com He is Vice President of der BPGMEA, member ional School. From the established other three ltry feed, Yeakin Agro nting & trading house. iwan, China, Malaysia,
, Motijheel, Dhaka, is a counting) degree from ss for a long time. He is business.
d No. 4/A, Dhanmondi ivil Engineering degree “Roads and Highway” ess.
ia, Gopalganj. Dr. S.M College, Barishal. After lth dept of Bangladesh under Kuwait National
Kalaroa, Satkhira. He
U.A Khalia, Gopalganj, th Business for a long
No. 4/A, Dhanmondi gaged with Business for
Dhaka. He Completed m in 1990. He retired as untries for training and
No-321, Road No-03, Completed Master of
joined in Bangladesh retirement, he was the
h) Loan status of the issuer, its directors and shareholders who hold 5% or more shares in the paidcapital of the issuer in terms of the CIB Report of Bangladesh Bank:
Neither the Company nor any of its Directors or shareholders who hold 5% or more shares in the paid up capital of the issuer is loan defaulter in terms of the CIB report of Bangladesh Bank.
i) Name, position, educational qualification, age, date of joining iyear), previous employment, salary paid for the financial year of the CEO, MD, CFO, CS, Advisers, Consultants and all Departmental Heads. If the Chairman, any director or any shareholder received any monthly salary than this information should also be included:
Sl. No. Name Position
01 S.M Akter Kabir Managing Director
02 A B MMahmudul Hasan
Chief Financial Officer
03 Md. Akhtaruzzaman
Company Secretary
04 Sikder Mofizur Rahman
DGM(Head of
Marketing)
05 Emdadul Islam DGM
(Head of Production)
Chairman, any director or any shareholder:
Sl. No. Name Position Q
01 Quazi Anwarul Haque
Chairman
02 Quazi Nazibul Haque
Director
03 Sk. Jamil Hossain Director
j) Changes in the key management persons during the last three years:
There was no change in the key management persons during the last three yearsSecretary, Chief Financial Officer and Factory Inchargeretirement in the normal course in the senior key management personnel particularly incharge of production, planning, finance and marketing during the last three years prior to the date of filling the prospectus, except Company Secretaoccurred only once for each post during last 3 (Three) years which is not high compare to the industry.
directors and shareholders who hold 5% or more shares in the paidf the CIB Report of Bangladesh Bank:
of its Directors or shareholders who hold 5% or more shares in the paid up aulter in terms of the CIB report of Bangladesh Bank.
qualification, age, date of joining in the company, overall experience (in salary paid for the financial year of the CEO, MD, CFO, CS, Advisers, ntal Heads. If the Chairman, any director or any shareholder received any mation should also be included:
tion Educational Qualification
Age (Years)
Date of Joining
Overall experience
(Years)
aging ector
M.Com (Acc.) 57 08.02.2001 28
hief ncial icer
M.Com 57 01.09.2015 26
pany etary
M.Com (Finance) 49 01.07.2015 23
GMad of eting)
B.Com 41 01.07.2004 14
GMad of ction)
B.Sc Engineer
(Mechanical)42 01.04.2003 19
y shareholder:
Educational Qualification
Age (Years)
Date of Joining
Overall experience
(Years)
Pemployment
M.Com 55 08.02.2001 27 M
Industries L
Bachelor in CIVIL
Engineering63 20.10.2010 34 Roads and
H
B.Com 56 08.02.2001 27
ent persons during the last three years:
key management persons during the last three yearsficer and Factory Incharge.There is no change otherwise than by urse in the senior key management personnel particularly incharge of
e and marketing during the last three years prior to the date of filling the Secretary, Chief Financial Officer and Factory Incharge.
ost during last 3 (Three) years which is not high compare to the industry.
Page | 79
shares in the paid-up
re shares in the paid up .
overall experience (in D, CFO, CS, Advisers, areholder received any
ll nces)
Previous employment
Salary paid for the
financial year ended 30.06.2006
Miracle Industries Limited
414,000
Bangladesh Preparedness
Centre -
Multi Securities &
Services Limited
-
Master Pack 490,992
Miracle Industries Limited
347,100
Previous ployment
Salary paid for the
financial year ended 30.06.2006
Miracle ndustries Limited
480,000
oads and Highway 144,000
- 120,000
years except Company erwise than by way of articularly incharge of
the date of filling the charge. These changes
mpare to the industry.
k) A profile of the sponsors including their names, fathheld in the past, directorship held, other ventures of
Sl.No. Name Father’s Name Age
(Years) p
01 Quazi AnwarulHaque
Quazi RahmatulHaque 55
3Ro
02 S.M AkterKabir
Late KhalilurRahman 57
23
03 Sk. JamilHossain Sk. Abdul Majed 56 Vil
04 Quazi EmdadulHaque
Quazi RahmatulHaque 41 Vil
05 Mrs. MalihaParvin Sk. Abdul Majed 40
3Ro
06Md. RezaulIslamChowdhury
Ahmed HossainChodhury 52 B
07 Engg. QuaziShafiqul Haque
Quazi RahmatulHaque 47
5
Sh
l) If the present directors are not the sponsors and coregarding the acquisition of control, date of acquisiti
Following present directors are not the Sponsors:
Sl. No. Name of Sponsors
01 Quazi Nazibul Haque
02 Dr. S. M ManiruzzamanNominee of Satkhira Feed Industries Ltd.
03 Mrs. Julia Parvin
04 Mrs. Sabrina Samsad
her’s names, age, personal addresses, educational qualifications, and expereach sponsor and present position:
personal addresses EducationalQualification Experience Pas
3/A, 13/19 Sir Syedoad, Mohammadpur,
Dhaka.
M.Com 27 yrs
Chairm
Chairm
Propri
3 R.K Mission Road,Wari, Motijheel,
Dhaka.M.Com 28 yrs Manag
Direc
ll: Labsha, P.S & Dist.Satkhira.
B. Com27 yrs Direc
ll.- Labsha, P.O/P.S-Satkhira B. Com 14 yrs Direc
3/A, 13/19 Sir Syedoad, Mohammadpur,
Dhaka.B. A 13 Yrs Direc
169/1, MalibaghBazar Road001, 1st
Floor ShantinagarM.COM 25 Direc
54/Kh, PC CultureHousing Society
Limitedhamoly, Dhaka-1207
Bachelor in MechanicalEngineering 20 Direc
ontrol of the issuer was acquired within five years immediately precedinion, terms of acquisition, consideration paid for such acquisition etc.
Acquisition of control(Date of Directorship) date of acquisition Terms of acqu
31-Dec-2010 31-Oct-2010 No term of acq
15-Mrach-2015 31-Oct-2010 No term of acq
30-Dec-2014 10-April-2012 No term of acq
15-Mrach-2015 12-Dec-2005 No term of acq
Page | 80
riences in the business, positions/posts
Position/Post Holding in otherVenturest Present
man Chairman Satkhira FeedIndustries Ltd.,
man Chairman Yeakin AgroProducts Ltd.
ietor Proprietor R.R Enterprise
gingctor
ManagingDirector
Satkhira FeedIndustries Ltd.,Yeakin AgroProducts Ltd.
ctorNominee ofYeakin AgroProducts Ltd.
Satkhira FeedIndustries Ltd.
ctor Sponsor -
ctor Sponsor Yeakin AgroProducts Ltd.
ctor
At present noshareholding
of thecompany
-
ctor
At present noshareholding
of thecompany
-
ng the date of filing prospectus details
uisition Consideration paid for suchacquisition (Taka)
quisition Cash
quisition Cash
quisition Cash
quisition Cash
m) If the sponsors/directors do not have experience in the proposed line of business, the fact explaining how the proposed activities would be
All the directors have adequate knowledge to carry out this line of business.
n) Interest of the key management persons:
There is no other interest with the key management except and Quazi Anwarul Haque, Chairman, Quazi Nazibul Haque, Director, Sk. Jamil Hossain, Director and S.M Akter Kabir, Director & Managing Director
o) All interests and facilities enjoyed by a director, whether pecuniary or non
All interests and facilities enjoyed by a director, whether pecuniary or nonthe head of Transaction with the directors and subscribers to the memorandum (Chapternumber 85.
p) Number of shares held and percentage of
Sl. Name of Directors1 Quazi Anwarul Haque2 S.M Akter Kabir
3 Sk. Jamil HossainNominee of Yeakin Agro Products Ltd.
4 Quazi Nazibul Haque
5 Dr. S.M ManiruzzamanNominee of Satkhira Feed Industries Ltd.
6 Mrs. Julia Parvin7 Mrs. Sabrina Samsad8 Siddiqur Rahman9 Khandaker Abdul Mabud
q) Change in board of directors during last three years:
On 30th December 2014 in 14elected as Director of the Board and the same meeting the Board appointed Md. Siddiqur Rahman as an Independent Director. Dr S M Maniruzzaman and Sk. Jamil Hossain retired from the board as15, 2015 and the same day in the Board Meeting Drappointed as the nominee director in favor of Satkhira Feed and Yeakin Agro Products Limited respectively. In the same Board meeting Mrs. Sabrina Samsad appappointments approved in the 15 Annual General Meeting held on 15February 2016, the Board appointed Khandaker Abdul Mabud as an Independent Director.appointment of Khandaker Abdul Mabud
r) Director’s engagement with similar business:
None of the Directors are involve
not have experience in the proposed line of business, the fact explaining ould be carried out/managed:
te knowledge to carry out this line of business.
nt persons:
h the key management except board meeting fees received by all directors Chairman, Quazi Nazibul Haque, Director, Sk. Jamil Hossain, Director and
Managing Director who are given remuneration.
yed by a director, whether pecuniary or non-pecuniary:
yed by a director, whether pecuniary or non-pecuniary are h the directors and subscribers to the memorandum (Chapter
rcentage of shareholding (pre issue):
ctors Position No of Shares HeldChairman 2,180,000
Managing Director 1,400,000
Nominee Director 2,260,000Products Ltd.Director 1,530,000
Nominee Director 4,200,000d Industries Ltd.Director 1,277,000Director 1,180,500
Independent Director -Independent Director -
Total 14,027,500
during last three years:
4th Annual General Meeting of the company, Mrs. Julia Parvin had been rd and the same meeting the Board appointed Md. Siddiqur Rahman as an Maniruzzaman and Sk. Jamil Hossain retired from the board asin the Board Meeting Dr. S M Maniruzzaman and Sk. Jamil Hossain
director in favor of Satkhira Feed and Yeakin Agro Products Limited oard meeting Mrs. Sabrina Samsad appointed as the Director. Their he 15 Annual General Meeting held on 15th December 2015.appointed Khandaker Abdul Mabud as an Independent Director.dul Mabud will be approved in next AGM.
milar business:
lved with similar business.
Page | 81
ss, the fact explaining
eceived by all directors Hossain, Director and
ary:
iary are disclose under um (Chapter-XII)page
es Held % of Holdings80,000 5.59%00,000 3.59%
60,000 5.79%
30,000 3.92%
00,000 10.77%
77,000 3.27%80,500 3.03%
0.00%0.00%
27,500 35.97%
Julia Parvin had been Siddiqur Rahman as an the board as on March and Sk. Jamil Hossain
Agro Products Limited s the Director. Their cember 2015.On 10th
pendent Director. The
CHAPTER (IX): CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
(a) TO WHOM IT MAY CONCERN
This is to certify that, the company does not have any transaction during the last five years, or any proposed transaction, between the issuer and any of the following persons:
I. Any director or sponsor or executive officer of the issuer;II. Any person holding 5% or more of the III. Any related party or connected person of any of the above persons;
Except the transactions describe in the following table:
I: Director Remuneration
Name Position
Quazi Anwarul Haque Chairman
S M Akter Kabir Managing Director
Quazi Nazibul Haque DirectorSk. Jamil Hossain DirectorDr. S M Maniruzzaman DirectorQuazi Emdadul Haque Ex-Director
Sub Total
II: Board Meeting Fee
Name Position
Quazi Anwarul Haque Chairman
S M Akter Kabir Managing Director
Quazi Nazibul Haque DirectorSk. Jamil Hossain DirectorDr. S M Maniruzzaman DirectorMrs. Julia Parvin DirectorMrs. Sabrina Samsad Director
Siddiqur Rahman Independent Director
Khandaker Abdul Mabud
Independent Director
Sub Total
III: Other Transactions
Name Nature of
Transaction
Satkhira Feed Ltd. Sales of Finished Goods
R. R Enterprise Purchase of
Raw Materials
Sub TotalGrand Total(A+B+C)
Date: Dhaka, the 24th March, 2016
ATIONSHIPS AND RELATED TRANSACTIONS
CERN
pany does not have any transaction during the last five years, or any the issuer and any of the following persons:
or or executive officer of the issuer;% or more of the outstanding shares of the issuer; onnected person of any of the above persons;
ribe in the following table:
Amount in (BDT)
ition
Year Ended,
June 30, 2015
Year Ended, June 30,
2014
Year Ended, June 30,
2013
Year Ended, June 30,
2
rman 480,000 480,000 480,000 4aging ector 414,000 414,000 414,000 4
ector 144,000 144,000 144,000 1ector 120,000 120,000 120,000 1ectorirector
1,158,000 1,158,000 1,158,000 1,166,000
Amount in (BDT)
sition 2014-2015 2013-2014 2012-2013
irman 6,750 6,750 3,750naging ector 6,750 6,750 3,750
ector 6,750 6,750 3,750ector 3,750 6,000 3,750ector 3,750 5,250 3,750ector 3,750ector 2,250
pendent ector 3,750
pendent ector -
37,500 31,500 18,750
Amount in (BDT)
ure of action
During the year,
2014-2015
During the year,
2013-2014
During the year,
2012-2013
D
2
es of shed ods
10,555,690 5,563,563 4,436,921
hase of aw erials
11,752,198 - -
22,307,888 5,563,563 4,436,92123,503,388 6,753,063 5,613,671
, 2016C
Page | 82
S
ve years, or any
r Ended, ne 30,
2012
Year Ended, June 30,
2011
480,000 420,000
414,000 360,000
144,000 72,500120,000 96,000
8,000
166,000 948,500
2011-2012 2010-2011
3,750 4,500
3,750 4,500
3,750 4,5003,750 3,0003,000 3,000
18,000 19,500
During the year,
2011-2012
During the year, 2010-2011
3,862,566 2,736,528
- 931,108
3,862,566 3,667,6365,046,566 4,635,636
Sd/-ARTISAN
Chartered Accountants
(b) There is no transaction or arrangement entered into by the issuer or its subsidiary or associate or entity owned or significantly influenced by a person who is currently a director or in any way connected with a director of either the issuer company or anyassociate concerns, or who was a director or connected in any way with a director at any time during the last three years prior to the issuance of the prospectus except the CHAPTER (IX) (a).
(c) No loan was taken or given from or to any Directors or any person connected with the Directors of
Yeakin Polymer Limited.
r arrangement entered into by the issuer or its subsidiary or associate or antly influenced by a person who is currently a director or in any way
of either the issuer company or any of its subsidiaries/holding company or o was a director or connected in any way with a director at any time during r to the issuance of the prospectus except the transaction mentioned in
en from or to any Directors or any person connected with the Directors of
Page | 83
bsidiary or associate or irector or in any way es/holding company or ctor at any time during nsaction mentioned in
d with the Directors of
CHAPTER (X): EXECUTIVE COMPENSATION
a) The total amount of remuneration/salary/perquisites paid to the top five salaried officers of the issuer in the last accounting year and the name and designation of each such officer:
SL Name
1 Quazi Anwarul Haque C
2 S.M Akter Kabir3 Sikder Mofizur Rahman4 Emdadul Islam5 Md. Mahmudul Hasan
b) Aggregate amount of remuneration paid to all directors and officers as a group during the last accounting year:
SL. Name1 Remuneration of Directors2 Board meeting expenses3 Salary and Allowances
c) If any shareholder director received any monthly salary/perquisite/benefit it must be mentioned along with date of approval in AGM/EGM, terms thereof and payments made during the last accounting
During accounting year ended 30480,000, Quazi Nazibul Haqreceived Tk. 120,000 and S.M Akter Kabir, Director &their services rendered to the Company31th December, 2011.
d) The board meeting attendance fees received by the director including the managing date of approval in AGM/EGM:
The board meeting attendance fees received by the director including the managing director are as follows:
Name & DesignationQuazi Anwarul HaqueChairmanS.M. Akter KabirDirector & Managing DirectorQuazi Nazibul HaqueDirectorDr. S. M ManiruzzamanDirectorNominee of Satkhira Feed Industries Ltd.Sk. Jamil HossainDirectorNominee of Yeakin Agro Products Ltd.Mrs. Julia ParvinDirectorMrs. Sabrina SamsadDirectorSiddiqur RahmanIndependent DirectorKhandaker Abdul MabudIndependent Director
e) Any contract with any director or officer providing for the payment of future compensation:
There is no such contract between the company a
f) If the issuer intends to substantially increase the remuneration paid to its directors and current year, appropriate information regarding thereto:
The company has no plan for substantially increasing remuneration to its directors and officers except for those that are paid as annual increment to their salaries.
OMPENSATION
tion/salary/perquisites paid to the top five salaried officers of the issuer in he name and designation of each such officer:
Designation Remuneration/salaries (Tk.) ended 30 June, 2015 (Taka)
Chairman (Internal Marketing and Procurement Director) 480,000
Managing Director 414,000DGM(Marketing) 490,992DGM(Production) 347,100
AGM (Procurement) 312,756
eration paid to all directors and officers as a group during the last
e Remuneration for year ended 3s
ceived any monthly salary/perquisite/benefit it must be mentioned along /EGM, terms thereof and payments made during the last accounting
ed 30th June 2015, Quazi Anwarul Haque, Chairman que, Director has recived Tk. 144,000, Sk. Jamil Hossain, Director
M Akter Kabir, Director & Managing Directorhas receivedCompany. The above revised remuneration was approved in the AGM dated
e fees received by the director including the managing M:
ce fees received by the director including the managing director are as
n Attendance Board Meeting Fee
9 6,750
9 6,750
9 6,750
5 3,750 stries Ltd.
5 3,750 ucts Ltd.
5 3,750
3 2,250
5 3,750
- -
r or officer providing for the payment of future compensation:
ween the company and any of directors or officers.
ntially increase the remuneration paid to its directors and rmation regarding thereto:
substantially increasing remuneration to its directors and officers except for ncrement to their salaries.
Page | 84
officers of the issuer in
alaries (Tk.) for year ne, 2015 (Taka)
80,000
4,00090,99247,100
2,756
group during the last
d 30June, 2015 (Taka)1,158,000
37,5003,591,936
ust be mentioned along last accounting year:
man has received Tk. Hossain, Director has
ceived Tk. 414,000 for oved in the AGM dated
ng director along with
naging director are as
Date of Approval
December 31, 2005
pensation:
ors and officers in the
and officers except for
g) Any other benefit/facility provided to the above persons during the last accounting year:
No other benefit/facility provided to the above persons during the last accounting year.
CHAPTER (XI): OPTIONS GRANTED TO DIRECTORS, OFFICERS AND EMPLOYEES
The Yeakin Polymer Limited did not grant any options to its directors, officers and/or any other employees for the purpose of issuing shares.
CHAPTER (XII): TRANSACTION WITH THE DIRECTORS AND SUBSCRIBERS TO THE MEMORANDUM
(a) Names of the directors & subscribers to the received or to be received by the indirectly from the issuer during the last five years along with the description of assets, servicesconsideration received or to be rec
The Directors and subscribers to the memorandum of association have not received any benefits except remuneration & board meeting fees directly or indirectly
Sl. Name
1 Quazi Anwarul Haque RBoard Meeting Fee
2 S.M Akter Kabir RBoard Meeting Fee
3 Sk. Jamil Hossain RBoard Meeting Fee
4 Quazi Nazibul Haque RBoard
5 Dr. S.M Maniruzzaman R
Board Meeting Fee
6 Mrs. Julia Parvin R
Board Meeting Fee
7 Mrs. Sabrina Samsad R
Board Meeting Fee
8 Siddiqur Rahman RBoard Meeting Fee
*There is no share money deposited
(b) If any assets were acquired or to be acquired from the aforesaid persons, the amount paid for such assets and the method used to determine the price shall be mentioned in the prospectus, and if the assets were acquired by the said persons within five yearsthereof paid by them.
No assets acquired or to be acquired from the except fund against allotments of shares.
vided to the above persons during the last accounting year:
ded to the above persons during the last accounting year.
ANTED TO DIRECTORS, OFFICERS AND EMPLOYEES
ot grant any options to its directors, officers and/or any other employees for
ION WITH THE DIRECTORS AND SUBSCRIBERS TO THE
scribers to the memorandum, the nature and amount of anything of value y the issuer from the above persons, or by the said persons, directly or ng the last five years along with the description of assets, services
e received:
to the memorandum of association have not received any benefits except g fees directly or indirectly during the last five years.Description 30-Jun-15 30-Jun-14 30-Jun-13
Remuneration 480,000 480,000 480,000ard Meeting Fee 6,750 6,750 3,750Remuneration 414,000 414,000 414,000ard Meeting Fee 6,750 6,750 3,750Remuneration 120,000 120,000 120,000ard Meeting Fee 3,750 6,000 3,750Remuneration 144,000 144,000 144,000ard Meeting Fee 6,750 6,750 3,750Remuneration - - -ard Meeting Fee 3,750 5,250 3,750Remuneration - - -ard Meeting Fee 3,750 - -Remuneration - - -ard Meeting Fee 2,250 - -Remuneration - - -ard Meeting Fee 3,750 - -osited during the last 5 years.
to be acquired from the aforesaid persons, the amount paid for such assets mine the price shall be mentioned in the prospectus, and if the assets were within five years prior to transfer those to the issuer, the acquisition cost
quired from the Directors and Sponsors (subscribers to the memorandum)of shares.
Page | 85
year:
year.
PLOYEES
ny other employees for
SCRIBERS TO THE
nt of anything of value id persons, directly or assets, services or other
ved any benefits except
30-Jun-12 30-Jun-11480,000 420,000
3,750 4,500414,000 360,000
3,750 4,500120,000 96,000
3,750 3,000144,000 72,500
3,750 4,5008,000 -3,000 3,000
- -- -- -- -- -- -
unt paid for such assets , and if the assets were er, the acquisition cost
s to the memorandum)
CHAPTER (XIII): OWNERSHIP OF THE COMPAN
a) The names, addresses, BO ID Number of all shareholdrepresented by such ownership:
Sl.No Name of the Share Holders Add
1 Quazi Anwarul Haque 3/A, 13/19Dhaka.
2 S.M Akter Kabir 23 R.K Missio3 Sk. Jamil Hossain Vill: Jhikra, P
4 Quazi Nazibul Haque House No. 45Dhaka.
5 Satkhira Feed Inds. Ltd Vill: Labsha, P6 Yeakin Agro Products Ltd. Vill: Labsha, P
7 Mrs. Sabrina Samsad Road No. 4/ADhaka.
8 Quazi Emdadul Haque Vill.- Labsha,
9 Mrs. Maliha Parvin 3/A, 13/9Dhaka.
10 Dr. S.M Maniruzzaman Vill: Sutfa, P.S11 Mrs. Julia Parvin Vill: Sutfa, P.O12 Dr. Faruque Hossain Vill.- Jhikra, P13 Md. Babul Hossain Flat-2C, Hous
14 Aminur Rahman House-37,Gulshan, Dha
15 A.K.M Quamruzzaman Flat-2/201, E
16 Md. Haider Ali House-48, FR/A, Dhak
17 Sk. Ataul Haque Vill. & P.O-La18 Siddiqur Rahman Vill. & P.O-La
19 Mahmudul Hasan 3/3, BlockDhaka.
20 Ahmed Kabir Majumder Room-9, 6, M
21 Eurodesh Consumer Products Ltd. 3/3, BlockDhaka.
22 Deadal Merchant Alliance Ltd. Paramount HCulvert Road
23 BMSL Investment Ltd (Port Folio A/c)* 37/A (7th flo
24 Noor Afroz Akram Block-F, HouDhaka
25 Md. Arif Akram Block-F, RoaDhaka
26 Khaja Corporation 5, Moulvi Baz27 Abdur Rouf Nistar House-62, Ro
NY’S SECURITIES
ders of the company before IPO, indicating the amount of securities owne
dress of the Shareholders Designation BO ID
Sir Syed Road, Mohammadpur, Chairman 1201510051700425
on Road, Wari, Motijheel, Dhaka. Managing Director 1203390052473589P.O & P.S: Kalaroa, Dist. Satkhira Sponsor 12041200521740955, Road No. 4/A, Dhanmondi R/A, Director 1204290043619323
P.S & Dist. Satkhira. Director 1605560058738980P.S & Dist. Satkhira. Director 1605560058738999A, House No. 45, Dhanmondi R/A, Director 1202350003814185
, P.O/P.S- Satkhira Sponsor 1204120052174036Sir Syed Road, Mohammadpur, Sponsor 1203110000201998
S: U.A Khalia, Gopalgonj. Shareholder 1203110053903778O- U.A Khalia,Dist.- Gopalgong Director 1201510054049195P.O/P.S-Kolaroa, Dist- Satkhira Shareholder 1202830058817589se-45, Dhanmondhi R/A, Dhaka Shareholder 1202350020770654
Road-01, Block-A, Neketon,aka Shareholder 1601880028773794
Eastern Rose, Moghbazar, Dhaka Shareholder 1202400021488171Flat-4/A, Road-4A, Dhanmondhi Shareholder 1204290043005045
absha, P.S & Dist -Satkhira Shareholder 1604940061481238absha, P.S & Dist –Satkhira. Shareholder 1202830059507954k-C, Lalmatia, Mohammadpur, Shareholder 1205150055070792
Motijheel C/A, Dhaka-1000 Shareholder 1205150055070883k-C, Lalmatia, Mohammadpur, Shareholder 1205150055070966
Heights (15th floor), 65/2/1, Box, Purana Paltan, Dhaka Shareholder 1605410055070891
oor), Dilkusha C/A, Dhaka-1000 Shareholder -use- 84, Road-5, Flat-A-3, Banani, Shareholder 1203040039545871
ad-5, House-84, Flat-A3, Banani, Shareholder 1201890024188455
zar, Dhaka Shareholder 1203040032865848oad-3, Block-B, Nicketan Housing, Shareholder 1203040009573216
Page | 86
ed and the percentage of the securities
No. of Shares PercentagePre-IPO Post-IPO
5 2,180,000 5.59% 3.69%
9 1,400,000 3.59% 2.37%5 1,250,000 3.21% 2.12%
3 1,530,000 3.92% 2.59%
0 4,200,000 10.77% 7.12%9 2,260,000 5.79% 3.83%
5 1,180,500 3.03% 2.00%
6 220,000 0.56% 0.37%
8 1,260,000 3.23% 2.14%
8 1,250,000 3.21% 2.12%5 1,277,000 3.27% 2.16%9 200,000 0.51% 0.34%4 20,000 0.05% 0.03%
4 50,000 0.13% 0.08%
1 40,000 0.10% 0.07%
5 25,000 0.06% 0.04%
8 1,511,000 3.87% 2.56%4 610,000 1.56% 1.03%
2 273,000 0.70% 0.46%
3 1,000 0.00% 0.00%
6 1,500 0.00% 0.00%
1 1,000 0.00% 0.00%
2,283,000 5.85% 3.87%
1 100,000 0.26% 0.17%
5 200,000 0.51% 0.34%
8 300,000 0.77% 0.51%6 50,000 0.13% 0.08%
Gulshan-1, D28 Abdul Barik Biswas H # 14, R# 4
29 Bilkis Parvin Hassan Flat# 5, HouDhaka-1209
30 Rafiqul Haider Chowdhry Flat-2BC, HouDhaka
31 Saiyidah Hafsa Begum H # 09, Rd#
32 Mohammad Kamal Uddin House-17, RoBashaboo, Dh
33 Badrul Hasan Al-Amin TowDhaka
34 Morshad Chowdury Flat # G-7, BaDhaka.
35 Md. Shahadat Hossain Khan Eastern OrchDhaka
36 Golam Sattar Chowdhury House-296, BKhilgaon, Dh
37 Syed Jalal Ahmed North west seBhaban(2nd f
38 Syed Jamal Ahmed North West S2nd floor, 56,
39 Md. Parvez Alam 3/A, Sadargh40 Bijan Paul 68/1, Harbou41 Sohel Sattar 1542/A Syed42 Md. Abdus Salim Malopara, K.
43 Abu Raihan H#13, R#2, BDhaka.
44 Saiful Islam 198-202, Naw
45 Jashim Uddin Bhuiyan Green Peace,Shantinagar
46 Md. Anwar Habib House # 19/Dhaka
47 Kutub Uddin Ahmed 283/G Bangl48 BMSL Investment Limited 37/A (7th flo
49 Grameen Capital Management Limited Gremeen Banfloor), Mirpu
50 GCML-Investor'sAccount(Discretionary Account)**
Gremeen Banfloor), Mirpu
51 Tareq Ansar Ahmed 42, Al-Amin52 Dr. Md. Shajahan Kabir 84/2, Marad
53 Jannatun Hasan M. Hasan TaiMirpur Road
54 Enamul Haque M/s Haque &Bogra.
55 AIBL Capital Management Limited 36, Dilkusha
Dhaka4,B# D, Bonosree Rumpura, Dhaka. Shareholder 1204570044975787use# 49, R# 15A, Dhanmondi R/A, Shareholder 1204570024481571
use-86A, Road-11A, Dhanmondi, Shareholder 1204570034795791
23, Block# B, Banani, Dhaka Shareholder 1201700021935657oad-1/Ka, Dhakhingaon,haka-1214 Shareholder 1202540004524207
wer, C#12, 143, Shantinagar, Shareholder 1202540000968592
aily Ritz, 1, New Baily Road, Shareholder 1202540045056041
hid Flat, 1/40/Circuit House Road, Shareholder 1202540003097401
Block-K, Road-16, South Bonasree,haka-1219 Shareholder 1202540000287861
ecurities Ltd. Jiban Bima,floor),56 Agrabad, Chittagong. Shareholder 1202130001697293
Shipping Line., Jiban Bima Bhaban,Agrabad, Chittagonj. Shareholder 1202130000074267
hat Road, Chittagonj Shareholder 1202130044716384uragf drfan Sadarghat Shareholder 1202130031050691
d Shah Road, Bakolia, Chittagonj. Shareholder 1202130045049426Mansion, Rajshahi-6000 Shareholder 1203110043492670
Block-E, Section-12, Mirpur, Shareholder 1203110043492670
wabpur Road, Dhaka Shareholder 1202880004010048F# I/8, 41, Chamili Bag, Shareholder 1201780026492607
1, Road # 15, Dhanmondi R/A, Shareholder 1203260029223783
la Sarak, Rayer Bazer, Dhaka Shareholder 1203300019250416oor), Dilkusha C/A, Dhaka-1000 Shareholder 1203110040416300nk Complex, 1st Building (2ndur-2, Dhaka-1216 Shareholder 1201740000058659
nk Complex, 1st Building (2ndur-2, Dhaka-1216 Shareholder 1201530000033793
Road, Kathal Bagan, Dhaka. Shareholder 1201530000033793dia, Khilgoan, Dhaka Shareholder 1203060049673611ilors & Fabrics, Jahan Mansion, 29,,Dhaka-1205 Shareholder 1203060049673611
& Sons, Santahar Road, Borogola, Shareholder 1203150032249050
C/A, Dhaka. Shareholder 1204290045062825
Page | 87
7 200,000 0.51% 0.34%
1 745,000 1.91% 1.26%
1 110,000 0.28% 0.19%
7 245,000 0.63% 0.42%
7 18,000 0.05% 0.03%
2 200,000 0.51% 0.34%
1 200,000 0.51% 0.34%
1 350,000 0.90% 0.59%
1 100,000 0.26% 0.17%
3 500,000 1.28% 0.85%
7 200,000 0.51% 0.34%
4 6,000 0.02% 0.01%1 200,000 0.51% 0.34%6 6,000 0.02% 0.01%0 2,500 0.01% 0.00%
0 100,000 0.26% 0.17%
8 1,500 0.00% 0.00%
7 1,000 0.00% 0.00%
3 150,000 0.38% 0.25%
6 20,000 0.05% 0.03%0 1,865,000 4.78% 3.16%
9 1,000,000 2.56% 1.69%
3 2,722,000 6.98% 4.61%
3 200,000 0.51% 0.34%1 50,000 0.13% 0.08%
1 75,000 0.19% 0.13%
0 310,000 0.79% 0.53%
5 1,500,000 3.85% 2.54%
56 Badiur Rahman Priyo PrangonParibagh, Sha
57 Ms. Shegufta Rahman Prima Priyo PrangonParibagh, Sha
58 Ms. Rukhna Rahman Tasha Priyo PrangonParibagh, Sha
59 Aj-hajj Abdus samad 57/A, 1 No. SPaslaish, Chat
60 S.M Shameem Iqbal KDS AccessorNasirabad, Ch
61 Ms. Runa Kashem Flat: C1, 42 BKhulsi, Chitta
62 Mohammed Nasir Uddin House # 22/GG.E.C Circle,
63 Ashif Iqbal Chowdhury 802, Monipu64 Rizia Halim 8-9, Shantina65 Md. Tazul Islam Hazinagar, Sh
66 Tanvir Mostafa 18/A, RNZ RoDhaka-1215
67 Abu Monsur Md. Syeduzzaman 496, EAST GOTotal
n, Building-A, Flat-05 06, 02,ahbagh, Dhaka. Shareholder 1204290045193105
n, Building-A, Flat-05 06, 02,ahbagh, Dhaka. Shareholder 1204290044540108
n, Building-A, Flat-05 06, 02,ahbagh, Dhaka. Shareholder 1204290044540116
Sugandda 1/A, Chakbazar,ttagong. Shareholder 1203850007574929
ries Ltd. Baizid Bostami, Road,hittagong. Shareholder 1204290043688750
B1, ABC Bay View Road, 03, Northagong. Shareholder 1204750014332193
G (8th Floor) O.R Nizam,Road,Chittagong Shareholder 1204750054857204
uripara, Mirpur, Dhaka. Shareholder 1605550059758671agar (B4/604), Dhaka Shareholder 1202830058133737harulia, Demra, Dhaka Shareholder 1202830048267036oksana,West Nakhalpara, Tejgaon, Shareholder 1605550059757527
ORAN, KHILGAON, Dhaka-1219 Shareholder 1203910059420126
Page | 88
5 200,000 0.51% 0.34%
8 150,000 0.38% 0.25%
6 150,000 0.38% 0.25%
9 500,000 1.28% 0.85%
0 500,000 1.28% 0.85%
3 900,000 2.31% 1.53%
4 900,000 2.31% 1.53%
1 300,000 0.77% 0.51%7 150,000 0.38% 0.25%6 375,000 0.96% 0.64%
7 50,000 0.13% 0.08%
6 75,000 0.19% 0.13%39,000,000 100.00% 66.10%
It is further certified that as per declaration of BMSL Investment Ltd., total number of their BMSL Investment Ltd. (Portfolio A/C) is comprised of 26 investors which is as follows:
*List of Investors under BMSL Investment Ltd. (Portfolio A/C):
S.L No Name
1 Rehanul Bari Chowdhury2 BMSL Investment Ltd.3 Mohammad Didarul Ahsan4 T.M. Mamun Kaiser5 Md. Ariful Hoque6 Afsia Aratun Nessa7 Sultana Razia8 Md. Yusuf Jamil9 Syed Imtiaz Hussain
10 Mizanur Rahman11 Md. Forhad Hossain12 Kazi Mohi Uddin13 Mohammad Taiab14 Badaruddin Ahmed15 Md. Fazla Kabir16 Labony Akter17 Kazi mainuddin Chistia18 Mortuza Mahmud Swapan19 Harun WB Chowdhury20 Alam Hossain21 Md. Mosaraf Hossain22 Md. Zafor ullah23 Masba Uddin Tipu24 Shamsul Alam25 Md. Towhidul Islam26 Shamoly Hossain Eva
T
It is also certified that as per declaration of Grameen Capital Management Ltd., total number of discretionary shareholders under their GCML-Investor's
**List of Investors under GCML-Investor's Account (Sl. No. Name
1 Ashraful Hasan2 Saleha Begum3 Noorjahan Begum4 Md. Ehsanul Bari5 Nazneen Sultana6 Mir. Mohammad Asiful Bari7 S.M Alamgir8 Maj. Md. Shafiqur Rahman9 Md. Khabir Uddin Ahmmed
10 Taslim Ahmed Sarker
declaration of BMSL Investment Ltd., total number of lio A/C) is comprised of 26 investors which is as follows:
stment Ltd. (Portfolio A/C):
Account Number Total Shareholding
y A/C Code - 8732 200,000A/C Code – 9999 12,000
an A/C Code – 8744 40,000A/C Code – 8749 100,000A/C Code – 8585 60,000A/C Code – 8755 20,000A/C Code – 8756 38,000A/C Code – 8717 30,000A/C Code – 8000 100,000A/C Code – 8558 200,000A/C Code – 8181 10,000A/C Code – 8746 200,000A/C Code – 8747 200,000A/C Code – 7028 500,000A/C Code – 8762 20,000A/C Code – 8708 10,000A/C Code – 8246 50,000
an A/C Code – 8360 100,000A/C Code – 8763 50,000A/C Code – 8767 5,000A/C Code – 8766 28,000A/C Code – 8092 50,000A/C Code – 8770 50,000A/C Code – 8772 150,000A/C Code – 7620 10,000A/C Code – 8779 50,000
Total 2,283,000
ration of Grameen Capital Management Ltd., total number of discretionary vestor's A/C (Discretionary Account) is as follows:
vestor's Account (Discretionary Account), Sl. No. 50:Account Number TD. A A/c No-09D. A A/c No-15D. A A/c No-17
D. A A/c No-239D. A A/c No-307
l Bari D. A A/c No-5101D. A A/c No-5129
man D. A A/c No-5621mmed D. A A/c No-731
D. A A/c No-877Total
Page | 89
of Shareholders under ows:
BO-ID
16049400473600201604940047360450160494004736012016049400473601601604940047358710160494004736969016049400473602001604940047359920160494004735351016049400473584401604940047355070160494004736013016049400473601401604940047375130160494004736024016049400473598401604940047355690160494004735664016049400473602501604940047360270160494004736026016049400473542601604940047360310160494004736971016049400473482501604940047360390
umber of discretionary
Total Shareholding3,00,0002,90,0002,80,0002,80,0002,70,0002,70,0002,60,0002,62,0002,55,0002,55,000
27,22,000
b) There shall also be a table showing the name and adin other companies of all the directors before the pub
SL Name of Director Address Ag(Ye
1 Quazi AnwarulHaque
3/A, 13/19 Sir SyedRoad, Mohammadpur,Dhaka.
55
2 S.M Akter Kabir 23 R.K Mission Road,Wari, Motijheel, Dhaka. 57
3 Quazi NazibulHaque
House No. 45, Road No.4/A, Dhanmondi R/A,Dhaka.
63
4 Satkhira Feed Inds.Ltd.
Vill: Labsha, P.S & Dist.Satkhira. -
5 Yeakin AgroProducts Ltd.
Vill: Labsha, P.S & Dist.Satkhira. -
6 Mrs. SabrinaSamsad
Road No. 4/A, House No.45, Dhanmondi R/A,Dhaka.
43
7 Mrs. Julia Parvin Vill: Sutfa, P.O- U.AKhalia,Dist.- Gopalgong 45
8 Siddiqur Rahman 8/1, Block-D, Lalmatia,Dhaka 68
9 Khandaker AbdulMabud
House No-321, RoadNo-03, SonadangaR/A(2ndPhase). Khulna -9000.
66
ddress, age, experience, BO ID Number, TIN number, numbers of shares hblic issue:
gear)
Experience(Year) BO ID TIN No. of
Share
5 27 1201510051700425 112842211375 2,180,000
7 28 1203390052473589 352671557661 1,400,000
3 34 1204290043619323 771125984130 1,530,000
- - 1605560058738980 188786586170 4,200,000
- - 1605560058738999 428268286798 2,260,000
3 8 1202350003814185 453648221233 1,180,500
5 4 1201510054049195 161784612190 1,277,000
8 37 - 670005564558 -
6 39 - 786174863422 -
Page | 90
eld including percentage, position held
%Position held in other
organizationother organization Position
5.59%
Satkhira Feed Inds.Ltd Chairman
Yeakin AgroProducts Ltd. Chairman
3.59%
Satkhira Feed Inds.Ltd Director
Yeakin AgroProducts Ltd. Director
3.92% Satkhira Feed Inds.Ltd Director
10.77% - -
5.79% - -
3.03% - -
3.27% - -
- - -
- - -
c) The average cost of acquisition of equity shares by th
This is to certify that all the shares of Yeakin Polymer Limited haveNecessary particulars of shareholdings, allotment date and consider
Date ofAllotment
Nature oftransaction
QuaziAnwarulHaque
S MAkterKabir
QuaziNazibulHaque
08.02.01 By Subscription 30,000 10,00030.08.03 By Allotment 270,000 90,00020.11.04 By Allotment 360,000 120,00015.12.05 By Transfer - -31.10.10 By Allotment - - 100,0029.04.11 By Allotment 100,000 50,000 250,0006.03.12 By Allotment - -14.03.12 By Allotment 100,000 50,000 200,0010.04.12 By Allotment - -02.01.13 By Allotment - -06.01.13 By Allotment 220,000 410,000 460,0018.09.13 By Allotment 100,000 70,000 70,0016.08.14 By Transfer - - 40,0015.09.14 By Transfer - - (40,00015.03.15 By Transfer - -30.03.15 By Allotment 10,00,000 600,000 300,0013.08.15 By Transfer - - 150,00
Total 21,80,000 14,00,000 15,30,00
Date: March 10, 2016Place: Dhaka
he directors certified by the auditors:
To Whom It May Concern
e been allotted in face value & in cash/bonus and the average cost of acquisition oration are given below:
S. MManiruzzaman
(Nominee ofSatkhira Feed
Industries Ltd.)
Sk. JamilHossain
(Nominee ofYeakin Agro
Products Ltd.)
Mrs.SabrinaSamsad
Mrs. JuliaParvin
SiddiqurRahman
(IndependentDirector)
- - - - - -- - - - - -- - - - - -- - - 220,000 - -0 15,00,000 500,000 - - -0 650,000 250,000 100,000 - -- 500,000 500,000 - - -0 - - 170,500 - -- - - - 50,000 -- 418,500 - - - -0 81,000 140,000 310,000 414,500 -0 350,500 110,000 80,000 212,500 -0 - - - - -
0) - - - - -- (300,000) 300,000 - -0 10,00,000 14,50,000 - 600,000 -0 - (690,000) - - -
00 42,00,000 22,60,000 11,80,500 12,77,000 -
Page | 91
of equity by the directors is Tk. 10.00 each.
KhandakerAbdulMabud
(Independent Director)
ConsiderationFace valueof Share
(Tk.)
- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- Cash 10.00- - -
Sd/-Artisan
Chartered Accountants
d) A detail description of capital built up in respect of shareholding (namedirectors. In this connection, a statement to be
Quazi Anwarul HaqueDate of
Allotment/ Transfer of fully paid- up shares
Consideration Nature of issue
08.02.01 Cash
Ordinary Share
30.08.03 Cash20.11.04 Cash29.04.11 Cash14.03.12 Cash06.01.13 Cash18.09.13 Cash30.03.15 Cash
S M Akter Kabir Date of
Allotment/ Transfer of fully paid- up shares
Consideration Nature of issue
08.02.01 Cash
Ordinary Share
30.08.03 Cash20.11.04 Cash29.04.11 Cash14.03.12 Cash06.01.13 Cash18.09.13 Cash30.03.15 Cash
Sk. Jamil HossainDate of
Allotment/ Transfer of fully paid- up shares
Consideration Nature of issue
08.02.01 Cash
Ordinary Share
30.08.03 Cash2.11.04 Cash
15.12.05 Cash29.04.11 Cash14.03.12 Cash02.01.13 Cash06.01.13 Cash18.09.13 Cash30.03.15 Cash
Dr. S.M ManiruzzamanDate of
Allotment/ Transfer of fully paid- up shares
Consideration Nature of issue
10.07.02 Cash
Ordinary Share
30.08.03 Cash20.11.04 Cash29.04.11 Cash14.03.2 Cash
06.01.13 Cash18.09.13 Cash30.03.15 Cash
Quazi Nazibul Haque
Date of Allotment/ Transfer of
fully paid- up shares
Consideration Nature of issue
31.10.10 Cash
Ordinary Share
29.04.11 Cash14.03.12 Cash06.01.13 Cash18.09.13 Cash16.08.14 Cash15.09.14 Cash30.03.15 Cash13.08.15 Cash
built up in respect of shareholding (name-wise) of the issuer’s sponsors/ statement to be included: -
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity shares
%issue
paid up capital
30,000 10.00 10.00 30,000
5.59
270,000 10.00 10.00 3,00,000360,000 10.00 10.00 6,60,000100,000 10.00 10.00 7,60,000100,000 10.00 10.00 8,60,000220,000 10.00 10.00 10,80,000100,000 10.00 10.00 11,80,000
10,00,000 10.00 10.00 21,80,000
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity shares
%issue
paid upcapital
10,000 10.00 10.00 10,000
3.59%
90,000 10.00 10.00 100,000120,000 10.00 10.00 220,000
50,000 10.00 10.00 270,00050,000 10.00 10.00 320,000
410,000 10.00 10.00 730,00070,000 10.00 10.00 800,000
600,000 10.00 10.00 14,00,000
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity
shares
%issue
paid up capital
10,000 10.00 10.00 10,000
3.21%
170,000 10.00 10.00 180,000240,000 10.00 10.00 420,000
(200,000) 10.00 10.00 220,00050,000 10.00 10.00 270,00050,000 10.00 10.00 320,00060,000 10.00 10.00 380,000
350,000 10.00 10.00 730,00070,000 10.00 10.00 800,000
450,000 10.00 10.00 12,50,000
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity
shares
%issue
paid up capital
10,000 10.00 10.00 10,000
3.21%
90,000 10.00 10.00 100,000120,000 10.00 10.00 220,000
50,000 10.00 10.00 270,000105,000 10.00 10.00 375,000355,000 10.00 10.00 730,000
70,000 10.00 10.00 800,000450,000 10.00 10.00 12,50,000
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity
shares
%issue
paid up capital
100,000 10.00 10.00 100,000
3.92%
250,000 10.00 10.00 350,000200,000 10.00 10.00 550,000460,000 10.00 10.00 10,10,000
70,000 10.00 10.00 10,80,00040,000 10.00 10.00 11,20,000
(40,000) 10.00 10.00 10,80,000300,000 10.00 10.00 13,80,000150,000 10.00 10.00 15,30,000
Page | 92
the issuer’s sponsors/
Pre-sue id up pital
% Post issue paid up
capital
Sources of fund
59% 3.69% Own Source
Pre-sue id uppital
% Post issue paid up
capital
Sources of fund
59% 2.37%
Own Source
Pre- ssue id up pital
% Post issue paid up
capital
Sources of fund
21% 2.12%
Own Source
Pre-ssueid up pital
% Post issue paid up
capital
Sources of fund
21% 2.12% Own Source
Pre-ssue id up pital
% Post issue
paid up capital
Sources of fund
92% 2.59% Own Source
Satkhira Feed Inds. LtdDate of
Allotment/ Transfer of fully paid- up shares
Consideration Nature of issue
31.10.10 Cash
Ordinary Share
29.04.11 Cash06.03.12 Cash02.01.13 Cash06.01.13 Cash18.09.13 Cash15.03.15 Cash30.03.15 Cash
Yeakin Agro Products Ltd. Date of
Allotment/ Transfer of fully paid- up shares
Consideration Nature of issue
31.10.10 Cash
Ordinary Share
29.04.11 Cash06.03.12 Cash06.01.13 Cash18.09.13 Cash30.03.15 Cash13.08.15 Cash
Sabrina Samsad Date of
Allotment/ Transfer of fully paid- up shares
Consideration Nature of issue
15.12.05 Cash
Ordinary Share
29.04.11 Cash14.03.12 Cash06.01.13 Cash18.09.13 Cash15.03.15 Cash
Mrs. Julia Parvin Date of
Allotment/ Transfer of fully paid- up shares
Consideration Nature of issue
10.04.12 CashOrdinary
Share 06.01.13 Cash18.09.13 Cash30.03.15 Cash
Quazi Emdadul Haque Date of
Allotment/ Transfer of fully paid- up shares
Consideration Nature of issue
08.02.01 CashOrdinary
Share 30.08.03 Cash20.11.04 Cash
Mrs. Maliha Parvin
Date of Allotment/ Transfer of
fully paid- up shares
Consideration Nature of issue
08.02.01 Cash
Ordinary Share
30.08.03 Cash20.11.04 Cash29.04.11 Cash02.01.13 Cash06.01.13 Cash18.09.13 Cash30.03.15 Cash
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity shares
%issue
paid up capital
15,00,000 10.00 10.00 15,00,000
10.77
650,000 10.00 10.00 21,50,000500,000 10.00 10.00 26,50,000418,500 10.00 10.00 30,68,5000
81,000 10.00 10.00 31,49,500350,500 10.00 10.00 35,00,000
(300,000) 10.00 10.00 32,00,00010,00,000 10.00 10.00 42,00,000
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity shares
%issue
paid up capital
10.00 10.00 500,000
5.79%
500,000250,000 10.00 10.00 750,000500,000 10.00 10.00 12,50,000140,000 10.00 10.00 13,90,000110,000 10.00 10.00 15,00,000
14,50,000 10.00 10.00 29,50,000(690,000) 10.00 10.00 22,60,000
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity shares
%issuepu
capital220,000 10.00 10.00 220,000
3.03%
100,000 10.00 10.00 320,000170,500 10.00 10.00 490,500310,000 10.00 10.00 8,00,500
80,000 10.00 10.00 8,80,500300,000 10.00 10.00 11,80,500
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity shares
%issue pu
capital50,000 10.00 10.00 50,000
3.27%414,500 10.00 10.00 464,500212,500 10.00 10.00 677,000600,000 10.00 10.00 12,77,000
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity shares
%issue pu
capital10,000 10.00 10.00 10,000
0.56%90,000 10.00 10.00 100,000120,000 10.00 10.00 220,000
No. of Equity shares
Face value
Issue Price/Acquisition
Price/Transfer Prices
Cumulative no. of Equity
shares
%i
paid up capital
y
20,000 10.00 10.00 20,000
3
180,000 10.00 10.00 200,000240,000 10.00 10.00 440,000200,000 10.00 10.00 640,000
70,000 10.00 10.00 710,00050,000 10.00 10.00 760,000
100,000 10.00 10.00 860,0004,00,000 10.00 10.00 12,60,00
Page | 93
Pre-ssue id up pital
% Post issue paid up
capital
Sources of fund
0.77% 7.12% Own
Source
Pre-ssue id up pital
% Post issue paid up
capital
Sources of fund
79% 3.83% Own Source
Pre-sueaid up pital
% Post issue paid up
capital
Sources of fund
03% 2.00% Own Source
Pre-sue aid up pital
% Post issue paid up
capital
Sources of fund
27% 2.16% Own Source
Pre-sue aid up pital
% Post issue paid up
capital
Sources of fund
56% 0.37% Own Source
% Pre-ssue
aid up apital
% Post issue
paid up capital
Sources of fund
.23% 2.14% Own Source
e) Detail of shares issued by the company at a price lower than the issue price:
All the shares are issued by the Company at face value of Tk. 10.00 before this issue.
f) History of significant (5% or more) changes in
Date of Allotment
Quazi Anwarul Haque
On MA/AA 30,00030.08.03 270,00020.11.04 360,00031.10.10 -29.04.11 100,00006.03.12 -14.03.12 100,00030.04.12 -02.01.13 -06.01.13 220,00009.01.13 -18.09.13 100,000
15.03.15 (Transfer) -30.03.15 1,000,000
13.08.15 (Transfer) -Total 2,180,000
company at a price lower than the issue price:
e Company at face value of Tk. 10.00 before this issue.
more) changes in ownership of securities from inception:
Satkhira Feeds Industries Ltd.
Yeakin Agro Products Limited
BMSL Investment Ltd (Port Folio
A/C) No. of. Share
- -- -- -
1,500,000 500,000650,000 250,000500,000 500,000
- -- - 220,000
418,500 - 197,50081,000 140,000 895,500
- - 970,000350,500 110,000
(300,000) -1,000,000 1,450,000
- (690,000)4,200,000 2,260,000 2,283,000
Page | 94
e.
on:ent o GCML-Investor's
Account(DA)
- -- -- -- -- -- -- -
000 -500 -500 -000 -
- 2,722,000- -- -- -
000 2,722,000
CHAPTER (XIV): CORPORATE GOVERNANCE
a) Management disclosure regarding compliance with the Guidelines of the Bangladesh Securities and Exchange
The Company declares that it Corporate Governance Guidelines of Bangladesh Securities and Exchange Commission (BSEC) and accordingly constitutes several committees under the board for good governance.compliance from competent authority has been incorporated accordingly.
Sd/- S.M. Akter Kabir Managing Director Yeakin Polymer Limited Date: March 28, 2016.
b) A compliance report of Corporate Governance requirements certified by competent authority;
CERTIFICATE ON CORPORATE GOVERNANCE COMPLIANCETo The Members of Yeakin Polymer Limited
We have examined the compliance to the BSEC guidelines on Corporate Governance by Limited for the year ended 30 June 2015. These guidelines relate to the Notification no. SEC/CMRRCD/2006158/134/Admin/44 dated 7 August 2012, as amended vide notification dated 21 July 2013 and 18 August 2013 of Bangladesh Securities and Exchange Commission (BSE
Such compliance to the codes of Corporate Governance is the responsibility of the company. Our examination for the purpose of issuing this certificate was limited to the procedures including implementation thereof as adopted by the Company for ensuring the compliance on the attached statement on the basis of evidence gathered and representation received.
In our opinion and to the best of our information and according to the explanations provided to us, we certify that the Company has complied with the conditions of Corporate Governance as stipulated in the above mentioned guidelines is issued by BSEC.
Place-Dhaka. Date-March 28, 2016
E GOVERNANCE
arding compliance with the requirements of Corporate Governance Securities and Exchange Commission (BSEC);
has been complied with the requirements of the applicable regulations of elines of Bangladesh Securities and Exchange Commission (BSEC) and al committees under the board for good governance.uthority has been incorporated accordingly.
rate Governance requirements certified by competent authority;
ATE ON CORPORATE GOVERNANCE COMPLIANCEo The Members of Yeakin Polymer Limited
ce to the BSEC guidelines on Corporate Governance by 2015. These guidelines relate to the Notification no. SEC/CMRRCD/2006
ust 2012, as amended vide notification dated 21 July 2013 and 18 August Exchange Commission (BSEC) on Corporate Governance.
orporate Governance is the responsibility of the company. Our examination tificate was limited to the procedures including implementation thereof as uring the compliance on the attached statement on the basis of evidence ed.
ur information and according to the explanations provided to us, we certify with the conditions of Corporate Governance as stipulated in the above
BSEC.
Mazumdar Sikder and AssociatesCost & Management Accountants
Page | 95
Corporate Governance
pplicable regulations of mmission (BSEC) and ance. A certificate of
t authority;
ce by Yeakin Polymer SEC/CMRRCD/2006-
y 2013 and 18 August ance.
pany. Our examination plementation thereof as n the basis of evidence
ovided to us, we certify tipulated in the above
Sd/- r and Associatesuntants
Status of compliance with the conditions imposed by the Commission’s Notification No BSEC/CMRRCD/2006-158/134/Admin/44 dated 07 August 2012 issued under section 2CC of the Securities and Exchange Ordinance, 1969:
Condition No.
1. Board of Directors:1.1 Board’s Size: The number of the board members shall
not be less than 5(Five) and more than 20 (Twenty)1.2 Independent Directors:1.2(i) One fifth(1/5) of the total number of 1.2(ii) a) Does not hold any share or holds less than 1% shares of
the total paid-up shares.1.2(ii) b Not connected with any Sponsor/ Director/
Shareholder who hold 1% or morpaid -up shares on the basis of family
1.2.(ii) c) Does not have any other relationship, whether pecuniary or otherwise, with the company or its subsidiary/associated companies.
1.2(ii) (d) Not a member, director or officer of any stock exchange.
1.2 (ii) (e) Not a shareholder, director or officer of any member of stock exchange or an intermediary of the capital market.
1.2(ii) (f) Not a partner or an executive or was not a partner or an executive during the preceding 3(three) yearsOf any statutory audit firm.
1.2(ii) (g) Not be an independent director in more than 3 (three) listed companies.
1.2(ii) (h) Not been convicted by a court of competent jurisdiction as a defaulter in payment of any loan to a bank or a NBFI.
1.2(ii) (i) Not been convicted for a criminal offence involving moral turpitude.
1.2(iii) Nominated by the board of directors and approved by the shareholders in the AGM.
1.2(iv) Not remain vacant for more than 90 (ninety) days.
1.2(v) Board shall lay down a code of conduct of all Board members and annual compliance of the code to be Recorded.
1.2(vi) Tenure of office of an independent director shall be a period of 3 (three) years, which may be extended for 1 (one) term only.
1.3 Qualification of Independent Director (ID):1.3(i) Knowledge of Independent Directors.1.3(ii) Background of Independent 1.3(iii) Special cases for qualifications.1.4 Individual Chairman of the Board and CEO.1.5 The Directors’ Report to Shareholders:1.5(i) Industry outlook and possible future developments in
the industry. 1.5(ii) Segment-wise or product
1.5(iii) Risks and concerns.1.5(iv) Discussion on Cost of Goods sold, Gross Profit Margin
and Net Profit Margin. 1.5(v) Discussion on continuity of any Extra1.5(vi) Basis for related party transactions.1.5(vii) Utilization of proceeds from public issues, rights issues
and/or through any others.1.5(viii) Explanation of the financial results
company goes for IPO, RPO, Rights Offer, and Direct Listing.1.5(ix) Explanation about significant variance occurs between
Quarterly Financial performance and Annual Financial Statements.
1.5(x) Remuneration to directors including independent directors.
the conditions imposed by the Commission’s Notification No Admin/44 dated 07 August 2012 issued under section 2CC of the e, 1969:
Title Compliance Status
Complied NotComplied
er of the board members shall nd more than 20 (Twenty) √
al number of directors √or holds less than 1% shares of √
any Sponsor/ Director/ 1% or more shares of the total asis of family relationship
√
other relationship, whether e, with the company or its mpanies.
√
tor or officer of any stock √
tor or officer of any member of intermediary of the capital √
cutive or was not a partner or preceding 3(three) yearsm.
√
director in more than 3 (three) √
court of competent jurisdiction nt of any loan to a bank or a √
a criminal offence involving √
d of directors and approved by AGM. √
ore than 90 (ninety) days. √
code of conduct of all Board ompliance of the code to be √
dependent director shall be for ars, which may be extended for √
dent Director (ID):nt Directors. √ent Directors. √ations.he Board and CEO. √Shareholders:ossible future developments in √
t-wise performance. √
√oods sold, Gross Profit Margin √
any Extra-ordinary gain or loss.ansactions. √rom public issues, rights issues ers.cial results deteriorates after the , Rights Offer, and Direct Listing.ficant variance occurs between ormance and Annual Financial
ctors including independent √
Page | 96
n’s Notification No section 2CC of the
Remarks (If any)
To be placed before the shareholder in this AGM for approvals. Appoint Independent Director first time.
Appoint Independent Director first time.
N/A
The company operates in a single product segment PP woven bag.
N/A
N/A
N/A
N/A
1.5(xi) Fairness of Financial Statement.1.5(xii) Maintenance of proper books of accounts.1.5(xiii) Adoption of appropriate accounting policies and
estimates. 1.5(xiv) Followed IAS, BAS, IFRS and BFRS in preparation of
financial statements. 1.5(xv) Soundness of internal control system.1.5(xvi) Ability to continue as a going concern.1.5(xvii) Significant deviations from the last year’s.1.5(xviii) Key operating and financial data of at least preceding 5 (five)
year.1.5(xix) Reasons for not declared dividend.1.5(xx) Number of board meetings held during the year and
attendance. 1.5(xxi) Pattern of shareholding:1.5(xxi)a) Parent/Subsidiary/Associated Companies and other
related parties. 1.5(xxi)b) Directors, CEO, CS, CFO, HIA and their spouses and
minor children. 1.5(xxi)c) Executives.1.5(xxi)d) 10% or more voting interest.1.5(xxii) Appointment/re-appointment of director:1.5(xxii)a) Resume of the director1.5(xxii)b) Expertise in specific functional areas.1.5(xxii)c) Holding of directorship and membership of committees
of the board other than this company.2. CFO, Head of Internal Audit (HIA) and CS:2.1 Appointment of CFO, HIA and CS and defining their
responsibilities. 2.2 Attendance of CFO and CS at the meeting of the Board
of Directors. 3. Audit Committee:3(i) Constitution of Audit Committee3(ii) Assistance of the Audit Committee to Board of Directors.3(iii) Responsibility of the Audit Committee. 3.1 Constitution of the Audit Committee:3.1(i) At least 3 (three) members.3.1(ii) Appointment of members of the Audit Committee.3.1(iii) Qualification of Audit Committee members.3.1(iv) Term of service of Audit Committee members.3.1(v) Secretary of the Audit Committee.3.1(vi) Quorum of the Audit Committee.3.2 Chairman of the Audit committee:3.2(i) Board of Director shall select the Chairman. 3.2(ii) Chairman of the audit committee shall remain present
in the AGM. 3.3 Role of Audit Committee:3.3(i) Oversee the financial reporting process.3.3(ii) Monitor choice of accounting 3.3(iii) Monitor Internal Control Risk management process.3.3(iv) Oversee hiring and performance of external auditors.3.3(v) Review the annual financial statements before
submission to the board for approval.3.3(vi) Review the quarterly and half yearly financial
statements before submission to the board for approval. 3.3(vii) Review the adequacy of internal audit function. 3.3(vii) Review statement of significant related party
transactions. 3.3(ix) Review Management Letters/Letter of Internal Control
weakness issued by statutory auditors.3.3(x) Disclosure about the uses/applications of funds raised
by IPO/RPO/Right issue.3.4 Reporting of the Audit Committee:3.4.1 Reporting to the Board of Directors.3.4.1(i) Activities of Audit Committee.3.4.1(ii) The Audit Committee shall immediately report to the Board of Directors on the following findings, if any3.4.1(ii)a Conflicts of interests.3.4.1(ii)b Material defect in the internal control system.3.4.1(ii)c Infringement of laws, rules and regulations.3.4.1(ii)d Any other matter.
ement. √ooks of accounts. √
ate accounting policies and √
S and BFRS in preparation of √
ntrol system. √oing concern. √m the last year’s.l data of at least preceding 5 (five) √
dividend.ngs held during the year and √
iated Companies and other √
O, HIA and their spouses and √
√rest. √tment of director:
√tional areas. √
and membership of committees his company. √
udit (HIA) and CS:HIA and CS and defining their √
CS at the meeting of the Board √
mmittee √ommittee to Board of Directors. √it Committee. √Committee:
rs. √s of the Audit Committee. √ommittee members. √Committee members. √mmittee. √
mmittee. √ommittee:elect the Chairman. √ommittee shall remain present √
porting process. √nting policies and principles. √l Risk management process. √ormance of external auditors. √
financial statements before for approval. √
and half yearly financial ssion to the board for approval. √
nternal audit function. √significant related party √
tters/Letter of Internal Control tory auditors. √
es/applications of funds raised
ommittee:f Directors.
mittee. √all immediately report to the Board of Directors on the following findings, if any
ernal control system.les and regulations.
Page | 97
N/A
N/A
No such incidents occurred
owing findings, if anyN/AN/AN/AN/A
3.4.2 Reporting to the Authorities.3.5 Reporting to the Shareholders and
4 Engagement of External/Statutory Auditors:4(i) Non-engagement in appraisal or valuation services or
Fairness opinions. 4(ii) Non-engagement in designing and implementing of
Financial Information Systems. 4(iii) Non engagement in Book4(iv) Non-engagement in Broker4(v) Non-engagement in Actuarial services 4(vi) Non engagement in Internal Audit services.4(vii) Non-engagement in services that the audit committee
determines 4(viii) Possessing no share by any partner or employee of the
external audit firm during the tenure of their audit assignment of that company
4(ix) Audit/certification services on governance
5 Subsidiary Company:5(i) Composition of the Board of Directors.5(ii) At least 1 (one) independent director to the subsidiary
company. 5(iii) Submission of Minutes to the holding company.5(iv) Review of Minutes by the holding company.5(v) Review of Financial Statement by the holding company.6 Duties of Chief Executive Officer and Chief Financial Officer:6(i)a) Reviewed the materially untrue of the financial
statement. 6(i)b) Reviewed about compliance of the accounting standard.6(ii) Reviewed about fraudulent, illegal or violation of the
company’s code of conduct.7 Reporting and Compliance of Corporate Governance:7(i) Obtain certificate about compliance of conditions of
Corporate Governance Guidelines. 7(ii) Annexure attached in the directors’ report.
c) Details relating to the issuer's audit committee and remuneration committee, including the names of committee members and a summary of the terms of reference under which the committees operate. The name of audit committee m
Audit Committee Members Name• Siddiqur Rahman (Independent Director)
Chairman of the Committee• Quazi Nazibul Haque • Sk. Jamil Hossain
The terms of reference of the a
� To review all internal and external audit report.� To recommend the statutory annual audited financial
approval. � To review the finding of the internal and external auditors.� To review and approve the Annual “Audit Plan� To monitor the implementation of the recommendations of the Inte� To review the performance of the external auditors and make recommendations to the Board
regarding their appointment and fees.� To review the quarterly, half yearly and annual financial statements before submission to the� To review the company’s statement on internal control systems prior to endorsement by the Board.� The Company Secretary shall be the secretary of the audit committee.
ties.lders and General Investors. √
/Statutory Auditors:praisal or valuation services or √
signing and implementing of stems. √
k-keeping or accounting √ker-Dealer services. √uarial services √rnal Audit services. √vices that the audit committee √
any partner or employee of the ring the tenure of their audit any
√
ces on compliance of corporate √
d of Directors.dent director to the subsidiary
o the holding company.e holding company.ment by the holding company.
e Officer and Chief Financial Officer:lly untrue of the financial √
nce of the accounting standard. √ent, illegal or violation of the
uct. √
ce of Corporate Governance:t compliance of conditions of uidelines. √
e directors’ report. √
s audit committee and remuneration committee, including the names of mmary of the terms of reference under which the committees operate. members and remuneration committeemembers are as follows:
bers Name Remuneration Committee Mendent Director) tee
• Quazi Anwarul Haque-Chairman of the Committee• S M Akter Kabir • Quazi Nazibul Haque • Siddiqur Rahman (Independent Director)
udit committee has been agreed upon as follows:
external audit report.tory annual audited financial statements to the Board of Directors for
he internal and external auditors.e Annual “Audit Plan” of the Internal Audit Department.ation of the recommendations of the Internal and External auditors.
nce of the external auditors and make recommendations to the Board ent and fees.alf yearly and annual financial statements before submission to thestatement on internal control systems prior to endorsement by the Board.hall be the secretary of the audit committee.
Page | 98
N/A
N/AN/A
N/AN/AN/A
ncluding the names of mmittees operate. as follows:
Members Nameman of the Committee
ent Director)
Board of Directors for
ent.ternal auditors.ndations to the Board
bmission to the Board. ement by the Board.
The terms of reference of the Remuneration
� To assist the Board in developing and administering a fair and transparent procedure for setting policy on the remuneration of directors and senior management of the Company
� Determining the remuneration packages � Review the Annual Confidential Report (� Review and oversee the Company's overall human resources strategy.
Remuneration committee has been agreed upon as follows:
veloping and administering a fair and transparent procedure for setting n of directors and senior management of the Company ration packages ential Report ( ACR) of senior management of the company
ompany's overall human resources strategy.
Page | 99
lows:
procedure for setting ny
mpany
CHAPTER (XV): VALUATION REPORT OF SECURITIES PREPARED BY THE ISSUE MANAGER
The valuation report of securities offered is prepared and and Fas Capital Management Ltd.) on the basis of the financial and all other information pertinent to the Issue.
Qualitative and quantitative factors of Valuation considered for the preparation of below:
� Yeakin Polymer Ltd.has a very good potential in local and international market. Recently it started its export in France.
� Good Corporate Governance is a key factor for a business and it is well
� Because of good profitability and sustainable growth,
� Management is highly experience and they are leading persons in their arena.
� Enjoying consistent earnings and EPS.
� The Company obtained ISO C9001:2008 on quality management
Methods for valuations of the securities
The issue price at Tk. 10.00 each at par is justified as details below:
Method 1: Net Asset Value (NAV) at historical costPrice based on Net Asset Value per shareMethod 2: Earnings based ValueEarnings based Value per share based on Overall Market P/EMethod 3: Average market price per share of similar stocks:
Method 1: Net Asset Value (NAV) at historical cost:
Sl. No.a) Share Capitalb) General Reservec) Tax Holiday Reserved) Retained Earnings
Total Shareholders' EquityNumber of SharesNet Asset Value per share as per Audited Report as on 30 June, 2015
Method 2: Earnings based Value
Historical Earnings based value per shareAverage Price Earnings of Market & Sectoral
Month16-Jan15-Dec15-NovAverage
Period No. of Share Net Profit after tax
30-Jun-11 6,000,00030-Jun-12 9,610,00030-Jun-13 16,959,00030-Jun-14 24,000,00030-Jun-15 39,000,000
Total 95,569,000 1Number of Shares before IPOEPS based on weighted Average of Net Profit 3 Months Average PE (Considering Lesser P/E of 27.44 &Earnings based Value per share based on overall Market P/E
REPORT OF SECURITIES PREPARED BY THE ISSUE MANAGER
ffered is prepared and justified by the issue managers (Imperi) on the basis of the financial and all other information pertinent to the
s of Valuation considered for the preparation of Valuation report are given
ry good potential in local and international market. Recently it started its
is a key factor for a business and it is well-practiced in
and sustainable growth, Yeakin Polymer Ltd. has Goodwill in the market.
ence and they are leading persons in their arena.
and EPS.
Certificate 14001:2004 on environment management and gement from Bureau of Assessment Services
rities
t par is justified as details below:Particulars
at historical costshare
sed on Overall Market P/Eer share of similar stocks:
at historical cost:
Particulars
veeserveings
udited Report as on 30 June, 2015
r sharece Earnings of Market & Sectoral
Sectoral (Engineering)28.1929.5326.6228.11
ofit after tax Weight of No. of Shares
10,639,516 0.0611,494,553 0.1025,785,572 0.1836,953,428 0.2555,074,021 0.41
139,947,090 1.00
Net Profit After TaxLesser P/E of 27.44 & 15.22 is 15.22)
sed on overall Market P/E
Page | 100
ISSUE MANAGERS
rs (Imperial Capital Ltd mation pertinent to the
ation report are given
. Recently it started its
in Yeakin Polymer.
odwill in the market.
ent and ISO Certificate
Amount (in Tk.)
14.61
14.9220.66
Amount (in Tk.)390,000,000
8,357,000 24,159,453
147,403,482 569,919,935
39,000,00014.61
Market15.2215.2415.1415.20
Weighted Average of Net Profit after tax
667,9691,155,8424,575,7269,280,020
22,474,72338,154,28039,000,000
0.9815.2214.92
Method 3: Average market price per share of similar stocks:Last One Year (Month ended) Closing Share Price of Similar Stock
Sl No. Date
1 31-Mar-152 30-Apr-153 31-May-154 30-Jun-155 30-Jul-156 31-Aug-157 30-Sep-158 29-Oct-159 30-Nov-15
10 31-Dec-1511 31-Jan-16 12 29-Feb-16
Average PriceAverage Price of these 4 (Stocks
Source: DSE Monthly Review.
CHAPTER (XVI): DEBT SECURITIES
The Company has not issued or is planning to issue any debt security within
er share of similar stocks:ing Share Price of Similar Stock
Deshbandhu Polymer Ltd.
Khan Brothers PP Woven Bag
Industries Ltd.
Miracle Industries Ltd.
17.10 22.60 13.8012.80 20.20 11.6013.30 28.10 13.5013.60 26.80 15.1014.10 28.30 15.9013.60 26.80 16.8014.70 26.60 17.4013.30 22.20 25.0011.50 21.80 21.3010.90 19.10 25.5012.40 20.10 33.1011.60 19.00 29.2013.24 23.47 19.85
these 4 (Stocks) Stocks 20.66ource: DSE Monthly Review.
RITIES
planning to issue any debt security within next six months.
Page | 101
les Ltd.
Sino Bangla Industries
0 25.100 19.000 20.900 21.800 22.700 25.700 26.700 27.000 25.900 28.200 32.50 0 37.60 5 26.096
onths.
CHAPTER (XVII): PARTIES INVOLVED AND THEIR RESPONSIBILITIES
Parties involve with YP
(a) Issue managers: (1) Imperial(2) FAS Capital Management Limited
(b) Underwriters: (1) BMSL Investment(2) AIBL Capital Management Limited(3) Grameen Capital Management
(c) Auditors: Artisan Chartered Accountants
(d) Cost and Management Accountants
(e) Valuer(f) Credit Rating
Company
CHAPTER (XVIII): MATERIAL CONTRACTSMajor agreements entered into
by the issuerIssue Management Agreement between the Company, Yeakin Polymer Limited and the Managers to the issue, Imperial Capital Limited& FAS Capital Management Limited.
To do all the task as mentioned in the Bangladesh Securities of Exchange Commission (Public Issue) Rules, 2015
Underwriting Agreement between the Company and the following underwriters: (1) BMSL Investment Limited
(2,800,000 shares)
(2) AIBL Capital Management Limited (2,100,000)
(3) Grameen Capital
Management Limited (2,100,000)
The issshall notice to the underwriters within ten days of closer of subscription calling upon them to subscribe the securities and pay for this in cash in full within 15 days of the date of said notice and saidsecurities subscription account within the said period.
The issuer shall within 7 days of the expriy of the period mentioned above, sent to the commission proof of subscription and deposit of the money by the underwriters.
Copies of the above mentioned contracts and documents and the Consent Order from the Bangladesh Securities and Exchange Commission may be inspected on any working day during office hours at the Company’s Registered Office.
VOLVED AND THEIR RESPONSIBILITIES
e with YPL Responsibilities
al Capital Limited pital Management Limited
The Issue Managers will act as the managers to the issue for the public issue as described in the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015.
nvestment Limited apital Management Limiteden Capital Management Limited
The Underwriters willunderwriters to the public issue as described in the Bangladesh Securities and Exchange Commission (Public Issue) Rules, 2015.
Accountants
To express an opinion on these financial statements based on their audit. Auditor will conduct the audit in accordance with Bangladesh Standards on Auditing (BSA).
N/A
N/A
N/A
CONTRACTS
Material parts of the agreements F
o do all the task as mentioned in the angladesh Securities of Exchange Commission Public Issue) Rules, 2015.
To Imperial Capital Ltd. Tk. 17.50 Lac.
To Limited Tk. 2.50 Lac.
he issuer, in the event of under subscription, hall notice to the underwriters within ten days f closer of subscription calling upon them to ubscribe the securities and pay for this in cash n full within 15 days of the date of said notice nd said amount shall be credited in to ecurities subscription account within the said eriod.
he issuer shall within 7 days of the expriy of he period mentioned above, sent to the ommission proof of subscription and deposit of he money by the underwriters.
underwriting at the rate of 0.50% of 35% of tTk. 7
contracts and documents and the Consent Order from the Bangladesh sion may be inspected on any working day during office hours at the
Page | 102
onsibilitiesgers will act as the
issue for the public ed in the Bangladesh Exchange Commission es, 2015.rs will act as the
the public issue as Bangladesh Securities Commission (Public
5.nion on these financial on their audit. Auditor
audit in accordance Standards on Auditing
-
-
-
Fees payable to different parties
Imperial Capital Ltd. Tk. .50 Lac.
FAS Capital Management mited Tk. 2.50 Lac.
derwriting commission the rate of 0.50% of 35% the total IPO amount (i.e. . 70,000,000.00)
from the Bangladesh ng office hours at the
CHAPTER (XIX): OUTSTANDING (a) The outstanding litigations against the issuer or any of its directors and fine or penalty imposed by any
authority are mentioned below
(i) Litigation involving Civil Laws
(ii) Litigation involving Criminal Laws
(iii) Litigation involving Securities, Finance and Economic Laws
BSEC (vide letter dated July 23, 2014) imposed a penalty of Tk. 2.00 Lac upon Yeakin Polymer Limited (Issuer) for non(Amendment) Act, 2000)(vide letter ref: YPL/BSEC/Enforcement/2014amount.
(iv) Litigation involving Labor Laws
No litigations
(v) Litigation involving Taxation (Income tax, VAT, Customs Duty and any other taxes/duties)
No litigations
(vi) Litigation involving any other Laws
No litigations (b) Outstanding cases filed by the Company or any of its directors:
There is no outstanding case filed by the proceedings mentioned below;
(i) Litigation involving Civil Laws: (ii) Litigation involving Criminal Laws:
(iii) Litigation involving Securit(iv) Litigation involving Labor Laws: (v) Litigation involving Taxation (Income tax, VAT, Customs Du
filed (vi) Litigation involving any other La
ING LITIGATIONS, FINE OR PENALTY ainst the issuer or any of its directors and fine or penalty imposed by any
w:
il Laws:No litigations
minal Laws:No litigations
urities, Finance and Economic Laws
July 23, 2014) imposed a penalty of Tk. 2.00 Lac upon Yeakin Polymer on-compliance of Section 22 (amended by the Securities and Exchange 0)i.e. for issued more than 100 number of placement holdersEC/Enforcement/2014-02 dated 05.08.2014) the Issuer paid the penalty
or Laws:
ation (Income tax, VAT, Customs Duty and any other taxes/duties)
other Laws
Company or any of its directors:
led by the issuer or any of its directors to any of the following type
Laws: No cases filed nal Laws: No cases filed ities, Finance and Economic Laws: No cases filed Laws: No cases filed
ion (Income tax, VAT, Customs Duty and any other taxes/duties):
ther Laws: No cases filed
Page | 103
enalty imposed by any
upon Yeakin Polymer curities and Exchange ment holders. Later on ssuer paid the penalty
r taxes/duties):
following types of legal
taxes/duties): No cases
CHAPTER (XX): RISK FACTORS AND MANAGEMENT’S PERCEPTIONS ABOUT THE RISKS
(i) INTERNAL RISK:
a) Credit Risk:
This is the risk of default on a debt that may arise because of default by the borrower to pay the loan. In operating any business there is always credit risk lies in the business. As there is always lending and borrowing between parties in the form of money and goods.
Management Perception:
Management has credit policy in place and exposure to credit risk is wellcontrol the credit risk the management ensure strong credit control and collection policies. We have highly dedicated team to maintain
b) Liquidity Risk:
The risk that a company may be unable to meet short term financial demands. This usually occurs due to the inability to convert its current assets to cash without a loss of capital or income. Liquidity is a common phenomenon of the business.
Management Perception:
Finance is an arts and science of managing fund so that it can manage working capital in efficient way. Yeakin Polymer Ltd. is also doing its level best to manage working capital management in efficient way to maintain liquidity risk. Management is dealing with accounts payable, inventory and accounts receivable efficiently.
c) Risk associated with the issuer’s interest in subsidiaries, joint ventures and associates:
Management Perception:
Yeakin Polymer Ltd. has no subsidiaries, joint venture and associate.
d) Significant revenue generated from limited number of customers, losing any one or more of which would have a material adverse effect on the issuer.
Management Perception:
Our management is always keen to find out new buyers which boost up the sales. we are not dependent on any particular or limited number of customers to operate our business.
e) Dependency on a single or few suppliers of raw materials, failure of which may affadversely.
Management Perception:
In business, having many suppliers of raw materials helps to get competitive advantage of cheaper price of raw materials. Because, it helps to bargain over price with suppliers.many supplier helps to maintain doing business efficiently. As we hold the views, we are not dependent on a single or few suppliers. List of our leading suppliers are available in Under sources and availability of raw m
f) More than 20% revenue of the issuer comes from sister concern or associate or subsidiary.
Management Perception:
We do not have any sister concern or associate or subsidiary.
g) Negative earnings, negative cash flows from operating activities, during last five years, if any.
Management Perception:
We have been operating our business efficiently. However, there was negative operating cash flow in the year 2012. It is happened due to growth. But since 2012 wenow we have positive operating cash flow.
h) Loss making associate/subsidiary/group companies of the issuer.
Management Perception:
We do not have any investment in subsidiary or associates. However we have two group in where there is no investment and loss making of
RS AND MANAGEMENT’S PERCEPTIONS ABOUT THE RISKS
on a debt that may arise because of default by the borrower to pay the loan. there is always credit risk lies in the business. As there is always lending
arties in the form of money and goods.
policy in place and exposure to credit risk is well-mmanagement ensure strong credit control and collection policies. We have
maintain credit policy.
may be unable to meet short term financial demands. This usually occurs vert its current assets to cash without a loss of capital or income. Liquidity
n of the business.
ence of managing fund so that it can manage working capital in efficient . is also doing its level best to manage working capital management in liquidity risk. Management is dealing with accounts payable, inventory
fficiently.
suer’s interest in subsidiaries, joint ventures and associates:
o subsidiaries, joint venture and associate.
ated from limited number of customers, losing any one or more of which verse effect on the issuer.
ays keen to find out new buyers which boost up the sales. we are not lar or limited number of customers to operate our business.
or few suppliers of raw materials, failure of which may aff
y suppliers of raw materials helps to get competitive advantage of cheaper Because, it helps to bargain over price with suppliers.
maintain doing business efficiently. As we hold the views, we are not few suppliers. List of our leading suppliers are available in bility of raw materials.
f the issuer comes from sister concern or associate or subsidiary.
concern or associate or subsidiary.
ve cash flows from operating activities, declining turnover or profitability, ny.
our business efficiently. However, there was negative operating cash flow in ened due to growth. But since 2012 we have overcome the situation and rating cash flow.
bsidiary/group companies of the issuer.
stment in subsidiary or associates. However we have two group tment and loss making of those group companies.
Page | 104
OUT THE RISKS
rrower to pay the loan. here is always lending
monitored. In order to ction policies. We have
ds. This usually occurs al or income. Liquidity
king capital in efficient apital management in nts payable, inventory
ciates:
one or more of which
the sales. we are not usiness.
may affect production
e advantage of cheaper rs. In addition, having the views, we are not ble in page number 45.
r subsidiary.
rnover or profitability,
operating cash flow in come the situation and
e two group companies
i) Financial weakness and poor performance of the issuer or any of its subsidiary or associates.
Management Perception:
Sales are one of the key indicators of success of a business if there is good margin of profit. Yeakin Polymer Ltd. has been generating increasing sales growth which is boosting up the profitability for last five years. Current and quick ratios are also inthan 1 and it is in decreasing trend which means that company is reducing its dependency on debt capital and we do not have any subsidiary or associate.
j) Decline in value of any investment
Management Perception:
We do not have any investment.
k) Risk associated with useful economic life of plant and machinery, if purchased in second hand or reconditioned.
Management Perception:
We have not purchased any
l) Adverse effect on future cash flow if interest free loan given to related party or such loans taken from directors may recall.
Management Perception:
There is no interest free loan given to relate
m) Potential conflict of interest, if the sponsors or directors of the issuer are involved with one or more ventures which are in the same line of activity or business as that of the issuer and if any supplier of raw materials or major customer is related to the same sponsors or directors.
Management Perception:
There is no potential conflict of Interest as the sponsors or directors of the issuer do not have any venture which is in the same line of activity. There are They are Yeakin Agro Products Ltd. which involves in agro based fish products and Satkhira Feed Industries Ltd. involves in producing different grade poultry and fish feed. No supplier of raw materials or major custom
n) Related party transactions entered into by the company those may adversely affect competitive edge.
Management Perception:
There is no such related party transaction which may adversely aff
o) Any restrictive covenants in any shareholders' agreement, sponsors' agreement or any agreement for debt or preference shares or any restrictive covenants of banks in respect of the loan/ credit limit and other banking facilities.
Management Perception:
There are no restrictive covenants in any shareholders’ agreement, sponsors’ agreement or any agreement relating to debt or preference shares or except some restrictive covenants of Banks in respect of loan or credit limit and other banks like changes in ownership structure, changes in sponsor directors and some mortgage agreements that mentioned
p) Business operations may be adversely affected by strikes, work stoppages or increase in wage demands by employees. Management Perception:
We are used to with the political unrest for long time and our business industries are used to dealing with this phenomenon. Yeakin Polymer Ltd. has been operating business since 2003 and it is a profitable entity. We have different incentive packages for our employees so that they can be beneficial to such package. In addition, there is government regulation of payinWe comply with the rules.
oor performance of the issuer or any of its subsidiary or associates.
ndicators of success of a business if there is good margin of profit. Yeakin nerating increasing sales growth which is boosting up the profitability for
nd quick ratios are also in favor of the company. Debt to Equity ratio is less sing trend which means that company is reducing its dependency on debt
ve any subsidiary or associate.
vestment
tment.
ul economic life of plant and machinery, if purchased in second hand or
ny plant and machinery in second hand or reconditioned.
cash flow if interest free loan given to related party or such loans taken
oan given to related party or loan taken from directors.
st, if the sponsors or directors of the issuer are involved with one or more same line of activity or business as that of the issuer and if any supplier of stomer is related to the same sponsors or directors.
flict of Interest as the sponsors or directors of the issuer do not have any ame line of activity. There are two companies under common management. oducts Ltd. which involves in agro based fish products and Satkhira Feed in producing different grade poultry and fish feed. No supplier of raw
mer is related to the same sponsors or directors of the issuer.
entered into by the company those may adversely affect competitive edge.
arty transaction which may adversely affect competitive edge.
in any shareholders' agreement, sponsors' agreement or any agreement for or any restrictive covenants of banks in respect of the loan/ credit limit
es.
covenants in any shareholders’ agreement, sponsors’ agreement or any bt or preference shares or except some restrictive covenants of Banks in limit and other banking facilities except some restric
ownership structure, changes in sponsor directors and some mortgage d in page number50of the prospectus.
be adversely affected by strikes, work stoppages or increase in wage
political unrest for long time and our business industries are used to dealing Yeakin Polymer Ltd. has been operating business since 2003 and it is a ve different incentive packages for our employees so that they can be
ge. In addition, there is government regulation of payin.
Page | 105
or associates.
argin of profit. Yeakin up the profitability for bt to Equity ratio is less its dependency on debt
sed in second hand or
oned.
y or such loans taken
rs.
lved with one or more r and if any supplier of
issuer do not have any common management. ucts and Satkhira Feed d. No supplier of raw issuer.
fect competitive edge.
tive edge.
t or any agreement for the loan/ credit limit
ors’ agreement or any covenants of Banks in rictive convents of the s and some mortgage
or increase in wage
ries are used to dealing since 2003 and it is a s so that they can be aying minimum wage.
q) Seasonality of the business of the issuer
Management Perception:
The principal activities of Yeakin Polymer Limited are manufacturing and marketing of PP woven bag. Yeakin Polymer Limited sells its products in demand for the product is around the year.
r) Expiry of any revenue generating contract that may adversely affect the business
Management Perception:
We do not have any revenue generating contract that may
s) Excessive dependence on debt financing which may adversely affect the cash flow.
Management Perception:
As per ratio analysis certified by auditors as at debt is 0.13 times of equity which indicates that, the YPL is not excessively depends on debt which may adversely affect the cash flow.
t) Excessive dependence on any key management personnel absence of whom may have adverse effect on the issuer’s business performance.
Management Perception:
Corporate Governance is wellour company. So any change in the key management can be replaced with other persons.
u) Enforcement of contingent liabilities which may adversely affect financial condition.
Management Perception:
We do not have any contingent liabilities which may adversely affect financial condition.
v) Insurance coverage not adequately protect against certain risks of damages.
Management Perception: Fire insurance is in place for safety. In addition, we have group insurance for our permanent labors with Far East Life Insurance Limited.
w) Absence of assurance that directors will continue its engagement with Company after expiry of lock in period.
Management Perception:
All running director of the company gave their kind consent that they shall serve the company. Further, since the company follows corporate governance principles and other relevant laws of the land, absence of assurance that director w
x) Ability to pay any dividends in future will depend upon future earnings, financial condition, cash flows, working capital requirements and capital expenditure.
Management Perception:
We have been earning profit and a profitable entity since inception. We are in belief that we will be able to pay dividend from our earning profit.
y) History of non operation, if any and short operational history of the issuer and lack of adequate background and experience of the sponsors.
We have no history of non
Management Perception: Yeakin Polymer Limited (YPL), has started its commercial operation in 15commencement of commercial operation YPL has never been nonhave adequate background and experience.
z) Risks related to engagement in new type of business, if any.
Management Perception:
There is no as such risk relating to engagement in new type of business.
s of the issuer
f Yeakin Polymer Limited are manufacturing and marketing of PP woven ited sells its products in local market. It’s not seasonal business and the
s around the year.
erating contract that may adversely affect the business
nue generating contract that may adversely affect the business.
debt financing which may adversely affect the cash flow.
fied by auditors as at debt is 0.13 times of equity which indicates that, the ends on debt which may adversely affect the cash flow.
any key management personnel absence of whom may have adverse effect rformance.
well practiced in our company. We have also well placed nge in the key management can be replaced with other persons.
t liabilities which may adversely affect financial condition.
ngent liabilities which may adversely affect financial condition.
dequately protect against certain risks of damages.
for safety. In addition, we have group insurance for our permanent labors ce Limited.
directors will continue its engagement with Company after expiry of lock
he company gave their kind consent that they shall serve the company. ny follows corporate governance principles and other relevant laws of the e that director will continue its engagement will not affect the business.
nds in future will depend upon future earnings, financial condition, cash quirements and capital expenditure.
ofit and a profitable entity since inception. We are in belief that we will be our earning profit.
, if any and short operational history of the issuer and lack of adequate ce of the sponsors.
n-operation.
(YPL), has started its commercial operation in 15ercial operation YPL has never been non-operative. Our sponsor/directors d and experience.
nt in new type of business, if any.
lating to engagement in new type of business.
Page | 106
marketing of PP woven sonal business and the
ess
business.
low.
hich indicates that, the w.
may have adverse effect
placed organogram in er persons.
dition.
condition.
r our permanent labors
any after expiry of lock
all serve the company. er relevant laws of the affect the business.
nancial condition, cash
n belief that we will be
and lack of adequate
15th July, 2003. After Our sponsor/directors
aa) Risk in investing the securities being offered with comparison to other available investment options.
Management Perception: We are profitable entity and our business growth will continue in longer period. It is not risky in investing securities in comparison with other available investment option.
bb) Any penalty or action taken by any regulatory authorities for nonlaw.
The commission on July 23, 2014, in exercise of the power conferred by section 22 ((amended by the Securities and Exchange (Amendment) Act, 2000) of the Securities and Exchange Ordinance, 1969 (XVII of 1969) imposed penalty of Tpenalty was that it had raised the proposed capital through allotting placement shares to 198 numbers of investors instead of 100 investors violating notification no. SEC/CMRRCD/2009193/114/Admin/28 dated October 02, 2011.
Management Perception:
We have paid the penalty as imposed by the Bangladesh Securities And Exchange Commission. After that we have complied the said notification duly.
cc) Litigations against the issuer for Tax and VAT relatedwith the disclosures of amount, period for which such demands or claims are outstanding, financial implications and the status of the case
Management Perception:
There is no litigation against us relating to
dd) Registered office or factory building or place of operation is not owned by the issuer.
Management Perception:
The registered office of the Company is located at 83, Si(6th Floor) is not owned by the issuerLabsha, Satkhira.
ee) Lack of renewal of existing regulatory permissions/ licenses.
Management Perception:
There is no such issue relating to lack of exist
ff) Failure in holding AGM or declaring dividend or payment of interest by any listed securities of the issuer or any of its subsidiaries or associates
Management Perception:
We have no subsidiaries or associates. But 30.12.2001, 05.08.2002, 06.11.2003, 27.12.2004, 31.12.2005, 17.12.2006, 21.12.2007, 21.12.2008, 24.12.2009, 31.12.2010, 31.12.2011, 31.12.2012, 26.12.2013, 30.12.2014 and 15.12.2015.
gg) Issuances of securities at lower than the IPO offer price within one year
Management Perception:
Within last one year, Yeakin Polymer ltd. has issued its securities on March 2015 at Tk.10. It has no plan to issue of securities within one year of IPO. Hence, risk is not applic
hh) Refusal of application for public issue of any securities of the issuer or any of its subsidiaries or associates at any time by the Commission.
Management Perception: Yeakin Polymer Ltd. has no Subsidiary or Associate. No refusal of application for public issue of any securities of the Yeakin Polymer Ltd. happened at any time by the Commission.
ities being offered with comparison to other available investment options.
and our business growth will continue in longer period. It is not risky in mparison with other available investment option.
en by any regulatory authorities for non-compliance w
3, 2014, in exercise of the power conferred by section 22 ((amended by the (Amendment) Act, 2000) of the Securities and Exchange Ordinance, 1969 penalty of Tk. 2.00 (two) Lac on Yeakin Polymer Limited. The reason for raised the proposed capital through allotting placement shares to 198 stead of 100 investors violating notification no. SEC/CMRRCD/2009
ed October 02, 2011.
y as imposed by the Bangladesh Securities And Exchange Commission. After e said notification duly.
uer for Tax and VAT related matters and other government claims, along mount, period for which such demands or claims are outstanding, financial s of the case
nst us relating to Tax, VAT or other government claims.
y building or place of operation is not owned by the issuer.
e Company is located at 83, Siddheswari Circular Road, Manhattan Tower y the issuer. However its factory building is situated in its own premises at
g regulatory permissions/ licenses.
ating to lack of existing regulatory permissions/ licenses.
or declaring dividend or payment of interest by any listed securities of the aries or associates
or associates. But YPL never fails in holding AGM. Dates of AGM are 2, 06.11.2003, 27.12.2004, 31.12.2005, 17.12.2006, 21.12.2007,
9, 31.12.2010, 31.12.2011, 31.12.2012, 26.12.2013, 30.12.2014 and
ower than the IPO offer price within one year
kin Polymer ltd. has issued its securities on March 2015 at Tk.10. It has no within one year of IPO. Hence, risk is not applicable for us.
r public issue of any securities of the issuer or any of its subsidiaries or he Commission.
no Subsidiary or Associate. No refusal of application for public issue of any olymer Ltd. happened at any time by the Commission.
Page | 107
e investment options.
riod. It is not risky in
with provisions of any
on 22 ((amended by the ange Ordinance, 1969
Limited. The reason for cement shares to 198 SEC/CMRRCD/2009-
nge Commission. After
ernment claims, along outstanding, financial
ms.
ssuer.
oad, Manhattan Tower d in its own premises at
nses.
listed securities of the
M. Dates of AGM are 12.2006, 21.12.2007, 013, 30.12.2014 and
015 at Tk.10. It has no for us.
y of its subsidiaries or
for public issue of any
(ii) EXTERNAL RISK FACTORS MAY INCLUDE AMONG OTHERS:
a) Interest Rate Risks;
As on 30 June 2015, YPL had outstanding short term and long term bank borrowing with lslami Bank Bangladesh Limited to the tune of BDT 76.33 million. Interest rates on such loans ranges from 15.00% to 16.00% per annum. Hence, the Company is exposedloans. Due to several macro-eterm bank loans may fluctuate over time. Inflationary pressure, increased demand for bank loan, increased volatility in money market, restrictive monetary policy, increased Government borrowing from banking sector, etc. may compel the Company’s loan giving institutions to increase their interest rates. If the interest rates are increased beyond what the Cwill be affected adversely. This would also affect its value of shares. In addition, if the Company has investment in tradable fixed income securities, then volatility of interest rates would affect the such investments. This would also affect the NAV per share of the Company.
Management Perception:
The management of YPL has decided to increase its equity by issuance of further new shares through the IPO to make the Gearing Ratio at a satisfactory level. Moreover, during last 2 months’ bank interest rate has been in down trend, which is most likely tostable. That’s why, the company is not likely to face interest increase risk.
b) Exchange Rate Risks;
YPL is engaged in global trade as it procures its raw materials from overseas markets. Therefore,fluctuations in the related foreign currency rates may affect adversely the company’s liquidity and profitability and expose a threat to the stability of the Company.
Management Perception:
YPL settles its foreign transaction through US Dollars in case value of functional currency fluctuates, the loss or gain on currency automatically sets off against the loss or gain on currency fluctuation for import. As the Company imports raw material, some balance is created in the foreign currency transaction. Furthermore, the Company is expecting about setting a system of hedging on foreign currency transactions in the future.
c) Industry Risks;
Any economic collapse, changes in tastes and fashions of the consumers, nationalrelated factors may cause to decline the market demand of the company products.
Management Perception:
YPL always gives value to its customers’ satisfaction and changes in taste and fashion. Therefore, its expert team promptly dedicatedemand and product diversification.
d) Economic and Political risks;
Economic risks;
Our performance and growth are dependent on the health of the Bangladesh economy. The economy could be adversely affected by various factors such as political or regulatory action, including adverse changes in liberalization policies, social disturbances, terrorist attacks and other acts of violence or war, natural calamities, commodity and energy adversely affect our business and financials.
Management Perception:
Bangladesh economy is booming for last few years. Consistent industrial growth along with increased agricultural production has made the Per Capita Income higher than that of recent years. In addition, favorable government policies and industry friendly policies by other regulatory bodies have proved to be congenial to the economy of the country.
Y INCLUDE AMONG OTHERS:
d outstanding short term and long term bank borrowing with lslami Bank e of BDT 76.33 million. Interest rates on such loans ranges from 15.00% to he Company is exposed to volatility of market-wide interest rates of bank conomic and market driven factors, interest rates on short term and long ate over time. Inflationary pressure, increased demand for bank loan,
market, restrictive monetary policy, increased Government borrowing from pel the Company’s loan giving institutions to increase their interest rates. If d beyond what the Company expects, then its cash flow and profitability is would also affect its value of shares. In addition, if the Company has ncome securities, then volatility of interest rates would affect the also affect the NAV per share of the Company.
decided to increase its equity by issuance of further new shares through the o at a satisfactory level. Moreover, during last 2 months’ bank interest rate h is most likely to continue as call money rate and deposit rate have become ny is not likely to face interest increase risk.
ade as it procures its raw materials from overseas markets. Therefore,oreign currency rates may affect adversely the company’s liquidity and at to the stability of the Company.
tion through US Dollars in case of import of its raw materials. While the fluctuates, the loss or gain on currency automatically sets off against the loss tion for import. As the Company imports raw material, some balance is ncy transaction. Furthermore, the Company is expecting about setting a currency transactions in the future.
ges in tastes and fashions of the consumers, nationalecline the market demand of the company products.
s customers’ satisfaction and changes in taste and fashion. Therefore, its es its creativity and research work to respond to any changes in customer’s cation.
h are dependent on the health of the Bangladesh economy. The economy y various factors such as political or regulatory action, including adverse ies, social disturbances, terrorist attacks and other acts of violence or war,
y and energy prices and various other factors. Any significant changes may nd financials.
ing for last few years. Consistent industrial growth along with increased made the Per Capita Income higher than that of recent years. In addition,
and industry friendly policies by other regulatory bodies have proved to be he country.
Page | 108
wing with lslami Bank ranges from 15.00% to e interest rates of bank n short term and long
emand for bank loan, nment borrowing from e their interest rates. If flow and profitability
n, if the Company has uld affect the value of
new shares through the nths’ bank interest rate eposit rate have become
as markets. Therefore,mpany’s liquidity and
w materials. While the sets off against the loss
terial, some balance is pecting about setting a
nal income and other
fashion. Therefore, its y changes in customer’s
conomy. The economy ion, including adverse
acts of violence or war, gnificant changes may
h along with increased cent years. In addition, odies have proved to be
Political risks;
Bangladesh is prone to serious unrest in the political condition which produces Hartal, Roadmany other barriers to the business. This could also propel the cost of the product upwards.
Management Perception:
During the last forty-two years ofpolitical situations. But presently, a more or less sound and industry friendly political atmosphere is prevailing in the country’s industry sector. Both the ruling and opposition parties betterment of the country. Last democratic national assembly election and local council polls are instances of peaceful political situation in Bangladesh.
e) Market and Technology-related Risks;
Market risks;
Refer to the risk of adverse market conditions affecting the sales and profitability of the company. Such as, shortage in raw material supplies, inefficient labor supplies, fall in product demand, etc. which signifies the adverse external and internal busisuccess of the business.
Management perception:
YPL is aware of the continuing market situation of its raw materials. The management of YPL believes that long term planning for raw material managemenfor its finished products and trustworthy relations with the suppliers can mitigate the risk of rising of materials cost.
Technology-related risks;
Technology always plays a vital role for each aneffective technology can increase productivity and reduce costs of production. On the other hand, obsolete technology may have a negative impact on the business.
Management perception:
YPL applies the latest technology in its production line. The machineries and equipment of the company are also the latest invention in the sector which is imported from renowned manufacturers in the world.
f) Potential or existing government regulations;
The Company operates under Companies Act 1994, Customs Act 1969, and Bangladesh Labour Law, 2006 (amended on July 22, 2013), Income Tax Ordinance 1984, Income Tax Rules 1984, Value Added Tax (VAT) Act 1991, Value Added Tax (VAT) Rules1991 and other related regulations.changes of the policies made by the regulatory authorities may adversely affect the business of the Company.
Recently Government has imposed restrictions on use of PP woven Bags in paddy, rice, wheat, maize, sugar and fertilizer. If any further restriction by the Government imposed on use PP woven bag any other product that may affect the profitability of the company.
Management perception:
Since the Company operates in PP Sector; the Government regulations are mostly However, unless any policy change that may negatively and materially affebusiness of the company is expected not to be affected. As it is an emerging sector, it is highly expected that the Government will not frustrate the growth of the industry with adverse policy measures.
g) Potential or existing changes in global or national policies;
The Company is dependent on imported raw materials. Any scarcity due to changes in policy in the international market might dent the production level and profitability. The performance of the Company may be affected due to unavoidable circumstances both in Bangladesh and worldwide, as such political turmoil and disturbance in the country may adversely affect the economy in
Management perception:
The management of the Company is always concerned about the prevailing and future changes in the global and national policy and shall response appropriately and timely to safeguard its interest and even though the smooth supply of raw material is hampered or faces any kind of disruptions in transportation of finished product to keep uninterrupted production.
s unrest in the political condition which produces Hartal, Roadiness. This could also propel the cost of the product upwards.
rs of post-independence period, Bangladesh has gone through a variety of ntly, a more or less sound and industry friendly political atmosphere is dustry sector. Both the ruling and opposition parties Last democratic national assembly election and local council polls are situation in Bangladesh.
d Risks;
arket conditions affecting the sales and profitability of the company. Such supplies, inefficient labor supplies, fall in product demand, etc. which and internal business environment. Those types of risks may impede the
g market situation of its raw materials. The management of YPL believes that material management, exploring number of global markets, job wise costing
trustworthy relations with the suppliers can mitigate the risk of rising of
tal role for each and every type of business. Innovation of new and cost rease productivity and reduce costs of production. On the other hand, a negative impact on the business.
ogy in its production line. The machineries and equipment of the company the sector which is imported from renowned manufacturers in the world.
nt regulations;
r Companies Act 1994, Customs Act 1969, and Bangladesh Labour Law, 013), Income Tax Ordinance 1984, Income Tax Rules 1984, Value Added Added Tax (VAT) Rules1991 and other related regulations.
e by the regulatory authorities may adversely affect the business of the
posed restrictions on use of PP woven Bags in paddy, rice, wheat, maize, ther restriction by the Government imposed on use PP woven bag any other ofitability of the company.
in PP Sector; the Government regulations are mostly hange that may negatively and materially affect the industry as a whole, the xpected not to be affected. As it is an emerging sector, it is highly expected frustrate the growth of the industry with adverse policy measures.
n global or national policies;
n imported raw materials. Any scarcity due to changes in policy in the nt the production level and profitability. The performance of the Company idable circumstances both in Bangladesh and worldwide, as such political country may adversely affect the economy in general.
pany is always concerned about the prevailing and future changes in the d shall response appropriately and timely to safeguard its interest and even raw material is hampered or faces any kind of disruptions in transportation interrupted production.
Page | 109
Hartal, Road-Block and upwards.
ne through a variety of political atmosphere is s are committed to the ocal council polls are
of the company. Such ct demand, etc. which
risks may impede the
ent of YPL believes that arkets, job wise costing te the risk of rising of
ation of new and cost . On the other hand,
ipment of the company acturers in the world.
ngladesh Labour Law, les 1984, Value Added gulations. Any abrupt ct the business of the
dy, rice, wheat, maize, P woven bag any other
ly investment-friendly. ndustry as a whole, the
or, it is highly expected icy measures.
anges in policy in the mance of the Company dwide, as such political al.
d future changes in the rd its interest and even ptions in transportation
h) Statutory clearances and approvals those are yet to be received by the issuer;
Management Perception:
We have been in the business over 12 years. We have collected all the statutory clearance to operate our business. Hence, there are no as such risks for our company.
i) Competitive condition of the business;
YPL is operating in a free market economy regimefrom its competitors. Management Perception:
Bangladesh is the prime source of cheapest labor in the world, earning comparative advantages for its industries over their local and global competitors. In addition, the management of YPL employs their efficiencies; expertise and discretions to minimize t
j) Complementary and supplementary products/services which may have an impact on business of the issuer.
Management Perception:
The company has not faced any challenges relating to supplementary and complementary products anManagement are concerned with the issue. In future, if necessary, management may diversify the product to be competitive over the competitors.
(iii) OTHER RISK FACTORS:
Risk relating to advance against land:
The yeakin polymer limited has given Tk. 1,605,000/the financial statement for the year ended years located in surrounding area of the existing f
Management Perception:
We have made registered Bainaat sathkhira with Shekh Maruf Hossain. This Bainawill be registered in the name of company with this period.
ovals those are yet to be received by the issuer;
over 12 years. We have collected all the statutory clearance to operate our as such risks for our company.
usiness;
arket economy regime. The company might have to face stiff competition
ce of cheapest labor in the world, earning comparative advantages for its d global competitors. In addition, the management of YPL employs their retions to minimize the cost of its products.
entary products/services which may have an impact on business of the
ny challenges relating to supplementary and complementary products anwith the issue. In future, if necessary, management may diversify the product mpetitors.
nd:
as given Tk. 1,605,000/- as advance against land as shown note no. 09 of year ended 30 June, 2015 which is given to Shekh Mrea of the existing factory premises at labsha, Sathkhira
na-nama no. 1897/16 dated 29/02/2016 in the sadar sub regiuf Hossain. This Baina-nama will expire on 31/12/2016. We hope that,of company with this period.
Page | 110
learance to operate our
o face stiff competition
ative advantages for its t of YPL employs their
act on business of the
ementary products anday diversify the product
s shown note no. 09 of Maruf Hossain over the ira.
dar sub registrar office 2016. We hope that, it
CHAPTER (XXI): DESCRIPTION OF THE ISSUE
a) Issue Size:
(k) Number of securities to be issued;
Public issue of 20,000,000 ordinary shares.
(ii) Authorized capital and paid
Authorized capital: Tk. 1,0
Paid-up capital: Tk. 390,000,000.00
(iii) Face value, premium and offer price per unit of securities;
Face Value: Tk. 10.00 Offer Price per unit of securities: Tk. 1
(iv) Number of securities to be entitled for each category of applicants;
Category
Eligible investors (EIs)
10% of IPO i.e. 2,000,000 Ordinary Shares shall be reservedfor Mutual 40% of IPO i.e. 8,000,000 Ordinary Shares shall be reservedfor Other Eligible Investors (EIs)
General public
10% of IPO i.e. 2,000,000 Ordinary Shares shall be reservedfor Non Resident Bangladeshis (NRBs) 40% of IPO i.e. 8,000,000 Ordinary Shares shall be reservedfor General Public
Total
(v) Holding structure of different classes of securities before and after the issue;
The Company has issued only ordinary shares.
Sl. No. Category of Shareholders
1 Sponsors & Directors2 Institutional3 General4 Mutual Funds5 Non Resident Bangladeshis (NRBs)
Total
ON OF THE ISSUE
e issued;
0 ordinary shares.
id-up capital;
000,000,000.00
00,000.00
offer price per unit of securities;
urities: Tk. 10.00
entitled for each category of applicants;
Particulars Number of Shares
Issue Price per Share
2,000,000 Ordinary Shares for Mutual Funds 2,000,000
10.00
8,000,000 Ordinary Shares dfor Other Eligible Investors 8,000,000
2,000,000 Ordinary Shares for Non Resident Bangladeshis 2,000,000
8,000,000 Ordinary Shares dfor ÿwZMª ’ ÿz ª wewb‡qvMKvixand 8,000,000
l 20,000,000
rent classes of securities before and after the issue;
only ordinary shares.
holders No. of ordinary Shares holdPre IPO Post IPO
18,007,500 18,007,5004,365,000 12,365,000
16,627,500 24,627,500- 2,000,000
his (NRBs) - 2,000,00039,000,000 59,000,000
Page | 111
ue Price r Share
Amount in BDT
0.00
20,000,000
80,000,000
20,000,000
80,000,000
200,000,000
% of holdingPre IPO Post IPO
46.17% 30.52%11.19% 20.96%42.63% 41.74%
0.00% 3.39%0.00% 3.39%
100.00% 100.00%
(vi) Objective of the issue including financing requir
Proceeds from Initial Public Offering (IPO) will b
Sl.1 Machinery2 Building (Factory and Administrativ
2.1 Factory BuildingI One storied Pre-fabricated Tin shedII One storied Pre-fabricated Tin shed
III One storied Pre-fabricated Tin sheitems
2.2 Administrative Building
I 02 (Two) storied Administration Bcompleted.
TotalIPO Expenses
Apart from above Tk.1.33 Crore will be used forMahbub H. Mazumdar FCMA is enclosed below:
rements and feasibility in respect of enhanced paid-up capital.
be used for following purposes:
Particulars
ve)
d 10,000 sft Building for Tarpaulin Finishing Sectiond 10,000 sft Building for FIBC BAG Finishing Sectioned 5,000 sft Building for Store of spares, maintenance and other consu
Building with 04 (Four) storied foundation work. Each Floor 1,500 sft.
Grand Total
r IPO expenses out of total IPO proceeds. The Feasibility report in respect e:
Page | 112
Amount in Tk.133,750,000
18,350,00018,360,000
mable 8,290,000
to be 7,950,000
186,700,00013,300,000
200,000,000
enhance paid-up capital as prepared by
Feasibility in respect of enhanced paid-up capita
Particulars
Property & AssetsNon-current AssetsProperty, Plant & EquipmentCapital Work in ProgressCurrent AssetsInventoriesTrade ReceivableOther ReceivableAdvances, Deposits & PrepaymentsCash & Cash EquivalentTotal Assets & PropertyShareholders' Equity & LiabilitiesShareholders' EquityShare CapitalGeneral ReserveTax Holiday ReserveRetained EarningsNon-Current LiabilitiesDeferred Tax LiabilitiesLong Term Bank LoanCurrent LiabilitiesCurrent Portion of Long Term LoanShort Term Bank LoanTrade CreditorsLiabilities for ExpensesLiability for WPPFTotal shareholders’ Equity & Liabilities
al.
Audited ProjeAmount in Taka Amount in Taka Amount30-June-2015 30-June-16 30-Jun
398,281,284 472,091,163 54308,752,054 387,597,385 4
89,529,230 84,493,778342,207,022 536,259,312 52124,650,443 137,115,487 1106,318,616 154,161,993 2
1,452,089 1,500,00056,207,148 70,258,93553,578,727 173,222,897
740,488,306 1,008,350,475 1,0
569,919,935 833,144,164 9390,000,000 590,000,000 5
8,357,000 8,357,00024,159,453 24,159,453
147,403,482 210,627,711 333,909,322 37,710,015 221,073,267 35,461,89612,836,055 2,248,119
136,659,050 137,496,296 105,293,968 5,293,968
58,193,990 52,374,5914,597,665 5,057,432
64,336,964 70,111,1404,236,463 4,659,165
740,488,306 1,008,350,476 1,0
Page | 113
ctedin Taka Amount in Taka
ne-17 30-June-18
47,128,054 521,953,06274,218,616 521,953,06272,909,438 -29,496,708 649,580,24857,682,810 204,987,65400,410,590 240,492,709
1,550,000 1,600,00087,823,669 100,997,21982,029,639 101,502,66676,624,762 1,171,533,309
51,278,754 1,069,080,23090,000,000 590,000,000
8,357,000 8,357,00024,159,453 24,159,45328,762,301 446,563,77724,677,207 23,730,32524,677,207 23,730,325
- -00,668,802 78,722,754
2,248,119 -36,662,214 25,663,550
5,816,046 7,270,05849,077,798 37,789,905
6,864,625 7,999,24276,624,762 1,171,533,309
Particulars
Sales RevenueExportLocalLess: Cost of Goods SoldGross Profit/ (Loss)Operating ExpensesAdministrative ExpensesSelling & Distribution ExpensesFinancial ExpensesFinancial ExpensesProfit from OperationsOther IncomeProfit before Contribution to WPPF & Income TaxLess: Provision for Contribution to WPPFNet Profit/ (Loss) after Contribution toWPPF but before Provision for Income TaxLess: Income Tax Expenses:Current TaxDeferred Tax (Income)/ExpensesNet Profit/ (Loss) after Provision for Income Taxtransferred to Retained EarningsEarnings per Share (EPS)
Statement of Comprehensive Income (Projected)Audited Proj
Amount in Taka Amount in Taka Amoun30-June-2015 30-June-16 30-Ju
419,920,083 508,103,300 6- 152,430,990
419,920,083 355,672,310 4306,932,915 370,661,358 4112,987,168 137,441,943
14,429,183 29,502,90411,026,775 25,760,256
3,402,408 3,742,64911,044,348 11,596,56511,044,348 11,596,56587,513,637 96,342,473
1,452,089 1,500,00088,965,726 97,842,473
4,236,463 4,659,165
84,729,263 93,183,30829,655,242 29,959,07819,657,463 15,570,449
9,997,780 14,388,630 (
55,074,021 63,224,2291.41 1.07
Page | 114
jectednt in Taka Amount in Takaune-17 30-June-18635,129,126 717,695,912190,538,738 215,308,774444,590,388 502,387,138462,310,490 520,688,384172,818,635 197,007,528
19,774,611 21,752,07215,470,565 17,017,622
4,304,046 4,734,45110,436,909 8,871,37310,436,909 8,871,373
142,607,115 166,384,0831,550,000 1,600,000
144,157,115 167,984,0836,864,625 7,999,242
137,292,490 159,984,84119,157,901 42,183,36529,942,590 43,130,246
(10,784,689) (946,882)
118,134,589 117,801,4762.00 2.00
The assumptions for these projections are as follows:
(Each year calculation is made comparing with respective
The project
Assumption indicator
Plant & Machinery Addition Plant & Machinery will beCapacity Increase Capacity will be increasedCapacity utilization Capacity utilization will be
Sales Revenue Sales revenue will be increquantity and unit price as
Operating expenses Operating expenses willexpense will lead to the hig
Fixed Asset Addition Fixed Asset will be increasePaid up Capital Paid up Capital will be incDividend Dividend is not considered
e previous year)
ted financial statement has been prepared on underlying assumption
Assumption's Basis 30-Junpurchased for the purpose of capacity increase. 70,00as new machineries will be introduced. 35.8
e almost same. 70-7eased for increasing quality,well as introduction of Export. 21
be increased due to increase of production and sales. IPOgher increase of Operating expenses in the year 2016. 104.
ed in every year for the purpose of production increase. 96,00creased by Tk. 200,000,000 through IPO in the year 2016. 200,00d here as the decision is not predetermined. -
Page | 115
Assumptions Yearsne-16 30-June-17 30-June-180,000 63,750,000 087% 24.04% 0%75% 70-75% 70-75%
1% 25% 13%
47% (32.97%) 10.00%
7,775 110,106,219 75,570,96200,000 0 0- - -
Sd/-Mahbub H. Mazumdar FCMA
CHAPTER (XXII): USE OF PROCEEDS
Sources of Fund:
Issue size(Number of share to be issued)20,000,000 SharesLess: IPO Expenses (Detail as at pag
a) Use of the net proceeds from the IPO:
Net proceeds from Initial Public Offering (IPO) will be used for business expansion purposes through acquisition of Machinery & Equipment, Construction & other civil works.
Use of Proceeds is given under:
Sl.
1 Machinery
2 Building
2.1 Factory Building
I One storied Pre-fabricated Tin shed 10,000 sft Building for Tarpaulin Finishing Section
II One storied Pre-fabricated Tin shed 10,000 sft BuildingFinishing Section
III One storied Pre-fabricated Tin shed 5,000 sft Building for Store of spares, maintenance and other consumable items
2.2 Administrative Building 02 (Two) storied Administration Building with 04 (Four) foundation work. Each Floor 1,500 sft. to be completed.
1. Details of Machinery:
SI. Description
Tape plant: Tape Extrusion Line complete with Cheese Winder and Standard Accessories (auto dosing, auto trimming, deistical control) of origin: India/China. Capacity: 3Facility for FIBC & Tarpaulin fabric yarn manufacturing arrangement. supplier:Lohia starlinger, d-3/a, panki industrial estate, kanpur-208 022, india/Changzhou New Liaoyuan Machinery Co. Ltd., Changzhou City, Xilin Industrial Zone. China.
2
Circular weaving loom: Circular Loom (6 shuttle) with Standard Accessories and optional equipments. Manufacturing of FIBC & Tarpaulin fabric, Country of origin: India/China, Capacity: 120 picks per minutes, dia upto 130 cm. Probable supplier: Lohia starlinger, dindustrial estate, kanpur-india/Changzhou New Liaoyuan Machinery Co. Ltd., Changzhou City, Xilin Industrial Zone. China.
3
Lamination plant: Single &lamination machine with standard accessories. Country of origin: Capacity: 200 Kg / hour. Line speed: 50 to 150 meter / minutes (depend on coting thickness) Facility for FIBC & Tarpaulin fabric lamination arrangement and BOPP film lamination. supplier: J.P Extrusiontech Ltd., GIDC Industrial Estate, Gujarat, India/Shantou Bond Machinery Co. Ltd Jinping District, Guangdong, china/Changzhou New Liaoyuan Machinery Co. Ltd., Changzhou City, Xilin Industrial Zone.China.
OCEEDS
Issue price
Tk. 10.00ge- 61)
Net IPO Proceeds
O:
Offering (IPO) will be used for business expansion purposes through ment, Construction & other civil works.
Particulars
Tin shed 10,000 sft Building for Tarpaulin 18,350,000
in shed 10,000 sft Building for FIBC BAG 18,360,000
Tin shed 5,000 sft Building for Store of her consumable items 8,290,000
tration Building with 04 (Four) storiedr 1,500 sft. to be completed.
Total
Qty (Nos.) Unit Price (USD) Total Price (USD)
complete with cessories (auto ntrol) Country 50 Kg / hour.
fabric yarn Probable
anki industrial angzhou New angzhou City,
1 330,500 330,500
om (6 shuttle) and optional C & Tarpaulin hina, Capacity: pto 130 cm. , d-3/a, panki 208 022,
Machinery Co. dustrial Zone.
4 26,000 104,000
Double side d accessories.
India/China. ed: 50 to 150 ing thickness) ric lamination ation. Probable IDC Industrial nd Machinery
Guangdong, Machinery Co. dustrial Zone.
1 290,000 290,000
Page | 116
Amount in Taka
200,000,00013,300,000
186,700,000
ion purposes through
Amount in Tk.
133,750,000
0,000
0,000
0,000 45,000,000
7,950,000
186,700,000
USD) Total Price (BDT)
,500 26,109,500
,000 8,216,000
,000 22,910,000
4 Finishing machine & equipments for Tarpaulin:
a Welding machine, Country of origin: India
b Fabric Eyelet machine, Country of origin:
c
Cutting machine, Country of origin: India Probable supplier: S.K. Enterprise, Kolkata, India/Shantou Bond Machinery Co. Ltd Jinping District, Guangdong, china/Changzhou New Liaoyuan Machinery Co. Ltd., Changzhou City, Xilin Industrial Zone. China.
5 FIBC Finishing machinery:
a Puch Cutting machine, Country of origin: India/China
b
Sewing machine, Country of origin: India/China Probable supplier: S.K. Enterprise, Kolkata, India/Gabber Engineering Co./Shantou Bond Machinery Co. Ltd Jinping District, Guangdong, china/Changzhou New Liaoyuan Machinery Co. Ltd., Changzhou City, Xilin Industrial Zone. China.
6 Injection Molding Machine for Hanger & FIBC Bag accessories:
aInjection Molding Machine with standard accessories and air compressor & air cool chiller. Country of origin: China, Capacity: 30 Kg/hour
b
Mold for FIBC accessories & Hanger Probable supplier: Bole Plastic Machinery, Xiaogang, Ningbo, China/Fu Chun Shin Machinery Mfg Co. Ltd., Tainan city, Taiwan.
Total Price in USD
Local Cost of Duty, port charges, C&F, Transportation, Installation, etc.
Total cost for imported machinery & equipments
7 Local Machinery & Equipments
a
Electrical Sub- Station (1,500 KVA) equipments including Transformer, L.T panel, HT Panel, PFI Plant, HT cable, LT cable, earthing equipments with installation, Drop out Fuse, CT, PT, Electrification Board permission, HT Connection line construction (including cable, pole, etc.)other. All supply and installation work completed by subturnkey supply.
b Sub- Station security deposit to REB @ Tk. 2,750 X 1,200 Kw (1,500 KVA) as per govt. fixed rate.
8 Other local equipments:
a Chease pipe ( bobbin) for tape line & loom
b Winder for existing Tape line to convert FIBC yarn
c Air compressor for loom, Tape line, & lamination Capacity: 10 bar.
d Chilling Plant with cooling tower for Tape line & Lamination machine. Capacity :( 40
e
Basber system (BBT) Electrical line installation for better protection of distribution line inside of factory as well as to maintain compliance for export oriented industry.
f
Electrical cable for installation of imported machinery power distribution line between machines With DB and other connection equipments.
T
r Tarpaulin:
n: India 1 27,500 27,500
rigin: India 1 11,500 11,500
origin: India rise, Kolkata, o. Ltd Jinping ngzhou New angzhou City,
2 9,500 19,000
y of origin: 1 20,000 20,000
India/China
6 5,000 30,000
rise, Kolkata, hantou Bond t, Guangdong, Machinery Co. dustrial Zone.
nger & FIBC Bag accessories:
with standard ir cool chiller. 30 Kg/hour
2 35,500 71,000
r
8 4,500 36,000c Machinery, Chun Shin
y, Taiwan.
939,500
&F, Insurance, 15%
& equipments
VA) equipments including Transformer, L.T cable, LT cable, earthing equipments with
PT, Electrification Board permission, HT luding cable, pole, etc.), Metering unit and work completed by sub-station supplier as
-
B @ Tk. 2,750 vt. fixed rate. -
-
& loom 50,000 75 -
convert FIBC 248 35,000 -
, & lamination 3 270,000 -
or Tape line & 0 + 40 TR) 2 2,850,000 -
ne installation n line inside of ompliance for As req
of imported line between r connection As req
Total
Page | 117
,500 2,172,500
,500 908,500
,000 1,501,000
,000 1,580,000
,000 2,370,000
,000 5,609,000
,000 2,844,000
,500 74,220,500
11,133,075
85,353,575
9,550,000
3,300,000
3,750,000
8,680,000
810,000
5,700,000
12,700,000
3,906,425
133,750,000
2. Building
2.1 Details of Factory Building
I. One storied Factory Building (10,000 sft) for Tarpaulin Finishing SectionS.L Area of construction:
Detail Estimate & Bill of quantity for Construction of proposed one Storied Factory.
1
Architectural and Structural Designincluding elevation and section of building, layout plan of column, beam, brick wall, toilet portion, steel structure of column head, Beam parling& roof sheet details of doors, windows, parapet and drop walls
2 Foundation & Pilling works ( Up to Plinth level ) :Item no 01.Earth work in foundation & Plinth.
a Earth Cutting in Foundation5’-0” X 5’-0” X 5’-0” X 2420’-0” X 35’-0” X 5’-0”
b Earth filling3000 X 1/3 + 10’-0” X 33’ X 2Item no 02.Pilling works
a Pile Boring54 X 100’-0”Pipe castingπ/4d²h X 64=
c Pile head breakingπ/4d² x 4’-0” X 64Item no 03.Brick Flat Soling
a Soling In Foundation5’-0” X 5’-0” X 30
b Soling In Floor110’-0” X 90’-0”
Item no 04.Cement concrete work in foundation6’-0” X 6’-0” X 30Item no 05.Foundation workPile cap casting4’-0” X 4’-0” X 1’-10” X 30Item no 06.Grade BeamR.C.C casting480’-0” X 1’-2” X 2’Item no 07.Floor casting (Rcc)110’-0’ X 90’-0”Item no 08.10” Brick work from GB to Plinth Level2 X (110’+90’) X 2’-0” X2'
Item no 09.
a) Pillingb) Pile capc) Gr. Beam-
Super structure work (From plinth Level to 1Item no 01.Column castingC1= 7’ X 7’ X 12NC= 4’ X 2’ X 4’-0” X 12
Item no 02.Lintel & Sun sheda. Lintel:(30’+58’) X 2 X 2 X 9” X 14”
ng (10,000 sft) for Tarpaulin Finishing SectionUnit Qnty. Rate
Construction of proposed one Storied Factory.gn‐Drawings of building, k wall, toilet head, Beam
rs, windows,
sft 10,000 10
linth level ) :
cft 3,000cft 3,500cft 6,500 5.50
cft 1,660 13.50
rft 5,400 210.00
cft 13,520 280.00
cft 270 85.00
sft 750
9,90010,650 30.00
n1,080 95.00
cft 864 310.00
cft 1,037 290.00
cft 9,900 250.00
velcft 1,600 170.00
M.S bar kg 3,000kg 1,200kg 1,240kg 5,440 85.00
evel to 1st Roof).
cft 588cft 384
972 290.00
cft 720
Page | 118
te Amount
0 100,000
0 35,750
50 22,410
00 1,134,000
00 3,785,600
00 22,950
00 319,500
00 102,600
00 267,840
00 300,672
00 2,475,000
00 272,000
00 462,400
00 281,880
b. Sun shed:(18” X 4” X 7’) 12
Item no 03.Plaster workWall – (20’+34’) 2 X 28’ X 2Ceiling- 34’ X 62’Mezzanine Floor (58’ X 6.5’) 2
Item no 04.Grill worka) Window Grill ( 12.5’ X 5’) 12b) Parapet Grill (58’+30’) 2TotalItem no 05.SS Grill on mezzanine floor(25’ X 3’) 2Item no 06.Aluminum workWindow6’ X 7.3’ X 10Item no 07.Collapsible Gate& Shutter12’ X 11’Item no 08.CI Sheet work136’ X 100’Item no 09.Color workItem no 10.Patent Stone casting on ground floor & roof top36’ X 50’ X 2 X 2
3 Air exhaust turbo Fan4 Bath room (all complete)5 Sewerage tank and line
6 Electric work @ 5% on civil work
II. One storied Factory Building (10,000 sft) for FIBC BAG Finishing SectionS.L Area of construction:
Detail Estimate & BOQ for Construction of proposed one Storied Factory.
1
Architectural and Structural Design‐Drawingsincluding elevation and section of building, layout plan of column, beam, brick wall, toilet portion, steel structure of column head, Beam parlingsheet details of doors, windows, parapet and drop walls
2 Foundation & Pilling works ( Up to Plinth level ) :Item no 01.Earth work in foundation & Plinth.
a Earth Cutting in Foundation5’-0” X 5’-0” X 5’-0” X 2420’-0” X 35’-0” X 5’-0”
b Earth filling3000 X 1/3 + 10’-0” X 33’ X 2Item no 02.Pilling works
a Pile Boring54 X 100’-0”Pipe castingπ/4d²h X 64=
c Pile head breakingπ/4d² x 4’-0” X 64Item no 03.Brick Flat Soling
a Soling In Foundation5’-0” X 5’-0” X 30
b Soling In Floor
cft 32752 290.00
sft 7,840sft 2,108sft 754
10,702 12.50
2 sqft 750sqft 176
926 140.00
sft 150 360.00
sft 440 320.00
sft 264 600.00
sft 13,600 165.00
sft 38,000 12.50
& roof topcft 9,200 230.00
12 110,000.00unit 12 30,000.00
L.STotal
5%Grand Total
(10,000 sft) for FIBC BAG Finishing SectionUnit Qnty. Rate
n of proposed one Storied Factory.rawingsding, layout t portion,
parling& roof et and drop
sft 10000 10
nth level ) :
cft 3,000cft 3,500cft 6,500 5.50
cft 1,660 13.50
rft 5,400 210.00
cft 13,520 280.00
cft 270 85.00
sft 750
Page | 119
00 217,935
50 133,775
00 129,640
00 54,000
00 140,736
00 158,400
00 2,244,000
50 475,000
00 2,116,00000.00 1,320,0000.00 360,000
545,00017,477,088
872,91218,350,000
ate Amount
0 100,000
50 35,750
50 22,410
0.00 1,134,000
0.00 3,785,600
00 22,950
110’-0” X 90’-0”
Item no 04.Cement concrete work in foundation6’-0” X 6’-0” X 30Item no 05.Foundation workPile cap casting4’-0” X 4’-0” X 1’-10” X 30Item no 06.Grade BeamR.C.C casting480’-0” X 1’-2” X 2’Item no 07.Floor casting (Rcc)110’-0’ X 90’-0”Item no 08.10” Brick work from GB to Plinth Level2 X (110’+90’) X 2’-0” X2'
Item no 09.
a) Pillingb) Pile capc) Gr. Beam-
Super structure work (From plinth Level to 1Item no 01.Column castingC1= 7’ X 7’ X 12NC= 4’ X 2’ X 4’-0” X 12
Item no 02.Lintel & Sun sheda. Lintel:(30’+58’) X 2 X 2 X 9” X 14”b. Sun shed:(18” X 4” X 7’) 12
Item no 03.Plaster workWall – (20’+34’) 2 X 28’ X 2Ceiling- 34’ X 62’Mezzanine Floor (58’ X 6.5’) 2
Item no 04.Grill worka) Window Grill ( 12.5’ X 5’) 12b) Parapet Grill (58’+30’) 2TotalItem no 05.SS Grill on mezzanine floor(25’ X 3’) 2Item no 06.Aluminum workWindow6’ X 7.3’ X 10Item no 07.Collapsible Gate& Shutter12’ X 11’Item no 08.CI Sheet work136’ X 100’Item no 09.Color workItem no 10.Patent Stone casting on ground floor40’ X 50’ X 2 X 2
3 Bath room (all complete)4 Sewerage tank and line5 Air exhaust turbo Fan
Total6 Electric work @ 5% on civil work
9,90010,650 30.00
1,080 95.00
cft 864 310.00
cft 1,037 290.00
cft 9,900 250.00
lcft 1,600 170.00
M.S bar kg 3,000kg 1,200kg 1,240kg 5,440 85.00
vel to 1st Roof).
cft 588cft 384
972 290.00
cft 720
cft 32752 290.00
sft 7,840sft 2,108sft 754
10,702 12.50
sqft 750sqft 176
926 150.00
sft 150 360.00
sft 440 320.00
sft 264 600.00
sft 13,600 165.00
sft 38,000 12.50
cft 9,200 230.00unit 12 30,000.00
L.S12 110,000.00
otal5%
Grand Total
Page | 120
00 319,500
00 102,600
0.00 267,840
0.00 300,672
0.00 2,475,000
0.00 272,000
00 462,400
0.00 281,880
0.00 217,303
50 133,775
0.00 138,900
0.00 54,000
0.00 140,736
0.00 158,400
.00 2,244,000
50 475,000
0.00 2,116,00000.00 360,000
545,00000.00 1,320,000
17,485,716874,284
18,360,000
III. One storied building (5,000 sft) for spares, maintenance and other consumable items
S.L Area of construction:Detail Estimate & BOQ for Construction of proposed one storied store building.
1
Architectural and Structural Designincluding elevation and section of building, layout plan of column, beam, brick wall, toilet portion, steel structure of column head, Beam parling sheet details of doors, windows, parapet and drop walls
2 Foundation & Pilling works ( Up to Plinth level ) :Item no 01.Earth work in foundation & Plinth.
a Earth Cutting in Foundation5’-0” X 5’-0” X 5’-0” X1510’-0” X 15’-0” X 5’-0”
b Earth filling1200 X 1/3 + 10’-0” X 13’ X 2Item no 02.Pilling works
a Pile Boring27 X 100’-0”Pipe castingπ/4d²h X 34=
c Pile head breakingπ/4d² x 4’-0” X 34Item no 03.Brick Flat Soling
a Soling In Foundation5’-0” X 5’-0” X 15
b Soling In Floor82’-0” X 60’-0”
Item no 04.Cement concrete work in foundation6’-0” X 6’-0” X 15Item no 05.Foundation workPile cap casting4’-0” X 4’-0” X 1’-10” X 15Item no 06.Grade BeamR.C.C casting426’-0” X 1’-2” X 2’Item no 07.Floor casting (Rcc)82’-0’ X 60’-0”Item no 08.10” Brick work from GB to Plinth Level2 X (82’+60’) X 2’-0” X2'
Item no 09.
a) Pillingb) Pile capc) Gr. Beam-
Super structure work (From plinth Level to 1Item no 01.Column castingC1= 7’ X 7’ X 12NC= 4’ X 2’ X 4’-0” X3
Item no 02.Lintel & Sun sheda. Lintel:(82’+60’) X 2 X 2 X 9” X 14”b. Sun shed:(18” X 4” X 7’) 8
Item no 03.Plaster workWall – (42’+30’) 2 X 20’ X 2
t) for spares, maintenance and other consumable items
Unit Qnty. Rateate & BOQ for Construction of proposed one storied store building.gn‐Drawings ilding, layout oilet portion,
parling & roof pet and drop
sft 5000 10
nth level ) :
cft 1,875cft 750cft 2,625 5.50
cft 660 13.50
rft 2,700 210.00
cft 4,500 280.00
cft 144 85.00
sft 375
4,9205,295 30.00
540 95.00
cft 432 310.00
cft 920 290.00
cft 4,920 250.00
lcft 1,136 170.00
M.S bar kg 1,500kg 500kg 840kg 2,840 85.00
vel to 1st Roof).
cft 588cft 96
684 290.00
cft 511
cft 21532 290.00
sft 5,760
Page | 121
ms
te Amountding.
0 50,000
0 14,438
50 8,910
00 567,000
00 1,260,000
00 12,240
00 158,850
00 51,300
00 133,920
00 266,846
00 1,230,000
00 193,120
00 241,400
00 198,360
00 154,338
Item no 04.Grill worka) Window Grill ( 12.5’ X 5’) 8TotalItem no 05.Aluminum workWindow6’ X 7.3’ X 8Item no 06.Collapsible Gate& Shutter12’ X 11’x2Item no 07.CI Sheet work86’ X 72’Item no 08.Color workItem no 09.Patent Stone casting on ground floor40’ X 50’ X 2 X 2
3 Bath room (all complete)4 Sewerage tank and line5 Air exhaust Fan
Total6 Electric work @ 5% on civil work
Grand Total
2.2 Details of Administrative Building 02 (Two) storied Administration Building with 04 (Four) storied foundation work. Each Floor 1,500 sft. to be completed.
S.L Area of construction:Detail Estimate & BOQ for Construction of proposed admin building.
Architectural and Structural Design‐Drawings including elevation and section of building, layout plan of column, beam, brick wall, toilet portion, stair, case, details of doors, windows, parapet and drop walls
1 Foundation & Pilling works ( Up to Plinth level ) :Item no 01.Earth work in foundation & Plinth.
a Earth Cutting in Foundation6’-0” X 6’-0” X6’-0” X128’-0” X 8’-0” X 8’-0”X 4
b Sand filling3500 X 1/3 + 10’-0” X 7Item no 02.Pilling works
a Pile Boring36X 100’-0”Pipe castingπ/4d²h X 36=
c Pile head breakingπ/4d² x 4’-0” X 36Item no 03.Brick Flat Soling
a Soling In Foundation5’-0” X 5’-0” X 16
b Soling In Floor45’-0” X 33’-0”
Item no 04.Cement concrete work in foundation (column)6’-0” X 6’-0” X 2-6" X16Item no 05.Column casting up to PL4’-0” X 2’-0” X 1’-6” X 16Item no 06.Grade Beam
5,760 12.50
sqft 750750 150.00
sft 586 320.00
sft 264 600.00
sft 6,192 165.00
sft 22,000 12.50
cft 4,933 230.00unit 4 30,000.00
L.S6 37,500.00
otal5.0%
rand Total
uilding with 04 (Four) storied foundation work. Each Floor 1,500 sft. to be
Unit Qnty. REstimate & BOQ for Construction of proposed admin building.awings ing, layout plan on, stair, case,
drop walls sft 6000
h level ) :
cft 2,592cft 2,048cft 4,640 5
cft 1,427 1
rft 3,600 210.00
cft 4,800 280.00
cft 248 8
sft 400
1,4851,885 2
olumn)1,440 9
cft 192 310.00
Page | 122
50 72,000
00 112,500
00 187,648
00 158,400
00 1,021,680
50 275,000
00 1,134,5900.00 120,000
47,7050.00 225,000
7,895,245394,755
8,290,000
h Floor 1,500 sft. to be
Rate Amount
10 60,000.00
5.50 25,520.00
3.50 19,260.00
10.00 756,000.00
80.00 1,344,000.00
5.00 21,080.00
5.00 47,125.00
5.00 136,800.00
10.00 59,520.00
R.C.C casting313’-0” X 1’-2” X 2’Item no 07.Floor casting39’-0’ X 28’-0”X6"Item no 08.10” Brick work from GB to Plinth Level2 X (45’+33’) X 2’-0” X2'
Item no 09.
a) Pillingb) Pile capc) Gr. Beam-
Structure work:Item no 01.Column castingA1= 12’ X16" X 12"X4X2B1= 12' X 10" X 15"X12X2Item no 02.Lintel on doors & windowItem no 03.Roof casting:45'X33'-4"X6"X2Iteme no 04.Stair casting up to 2nd floorFinishing work:Brick wall10" & 5" all outsite in 2 floors45'X2 + 33'- 4"X2 X 12' -20% Doors & windowsItem no 03.Plaster workWall – (42’+30’) 2 X 20’ X 2Roof
Item no 04.Grill worka)Window Grill ( 6’ X 5’) 12TotalItem no 05.Aluminum workWindow6’ X5’ X 12Item no 06.Internal chamber & falas celingAluminum workFalse CeilingItem no 07.Collapsible Gate& Shutter8’ X 11’x1Item no 08.Color workItem no 09.Floor tiles work45'X33'- 4"X2 - 15%Stair tilesStainless steel work for stairPatent Stone casting on roof45’ X 33-4’Bath room (all complete)Total construction workElectric & water line work @ 15% on civil workSewerage tank and line
Grand Total
Sd/-
S.M. Akter Kabir Managing Director
cft 676 290.00
cft 546 250.00
cft 624 170.00M.S bar kg 2,500kg 600kg 1,200kg 4,300 8
cft 134cft 314
449 380.00cft 320 320.00
cft 1,500 390.00
cft 1,200 280.00
sft 1,503 140.00windows
sft 4,880sft 3,000
7,880 1
sqft 360360 150.00
sft 360 320.00
sft 700 320.00sft 2,400 7
sft 88 600.00
sft 3,441 3
2,524 150.00980 9L.S
cft 1,500 170.00unit 6 40,000.00
vil work 15.0%L.S
and Total
Sd/-
A B M Mahmudul Hasan Chief Financial Officer
Page | 123
90.00 196,063.20
50.00 136,500.00
70.00 106,080.00
5.00 365,500.00
80.00 170,580.4820.00 102,400.00
90.00 584,913.23
80.00 336,000.00
40.00 210,420.00
2.50 98,500.00
50.00 54,000.00
20.00 115,200.00
20.00 224,000.000.00 168,000.00
00.00 52,800.00
2.00 110,112.00
50.00 378,600.000.00 88,200.00
250,000.00
70.00 255,000.00000.00 240,000.00
6,652,173.91997,826.09240,000.00
7,950,000.00
Sd/-
Quazi Anwarul Haque Chairman
On behalf of Board
b) Where the sponsors’ contribution or privately placed fund has been brought prior to the public issue and has already been deployed by the issuer, indication of use of such funds in the cash flow statement; TK. 15,000,000/- (Fifteen Crore) has been raised on dated 30.03.2015. This fund has already deployed by the issuer in the following manner:
Accounting Year
2014-2015 Acquisition of Plant a
- F
- W
-
Total
c) If one of the objects is an investment in a joint venture, a subsidiary, an associate or any acquisition, details of the form of investment, nature of benefit expected to accrue to the issuer as a result of the investment, brief description of business andThe company has no objects is an investment in a joint venture, a subsidiary, an associate or any acquisition.
d) If IPO proceeds are not sufficient to complete the project, then source of additional fund must be mentioned. In this connection, copies of contract to meet the additional funds are required to be submitted to the Commission. The means and source of financother financial arrangement, which may be repaid from the proceeds of the issue along with utilization of such funds; IPO proceeds are sufficient to complete the project.
e) A schedule mentioning the stages of implemoffer in a tabular form, progress made so far, giving details of land acquisition, civil works, installation of plant and machinery, the approximate date of completion of the project and the projected date of full commercial operation etc. The schedule shall be signed by the Chief Executive Officer or Managing Director, Chief Financial Officer and Chairman on behalf of Board of Directors of the issuer;
Sl. No. Projects
1 Land Acquisition
2 Acquisition and InstallationMachineries
3
Construction of Pre-fabricated Tin shed Factory Building:
I. One storied Pre-fabricated Tin shed 10,000 sft Building for Tarpaulin Finishing Section
II. One storied Pre-fabricated Tin shed 10,000 sft Building for FIBC BAG Finishing Section
III. One storied Pre-fabricated Tin shed 5,000 sft Building for Smaintenance and other consumable items
Construction of Administrative02 (Two) storied Administration Building with 04 (Four) storiedEach Floor 1,500 sft. to be completed.
Sd/- S.M. Akter Kabir Managing Director
ribution or privately placed fund has been brought prior to the public issue ployed by the issuer, indication of use of such funds in the cash flow
n Crore) has been raised through private placement prior to the public issue s fund has already deployed by the issuer in the following manner:
Item Amount in Taka Reflected in Cash Flowcquisition of Plant and Machineries 54,426,694 capital working progress
Factory Building 70,636,876 Pfixed asset and capital
Working Capital 22,000,000 P
In Bank 2,936,430 In closing bank balance
150,000,000
investment in a joint venture, a subsidiary, an associate or any acquisition, estment, nature of benefit expected to accrue to the issuer as a result of the on of business and financials of such venture; ects is an investment in a joint venture, a subsidiary, an associate or any
ufficient to complete the project, then source of additional fund must be ction, copies of contract to meet the additional funds are required to be ion. The means and source of financing, including details of bridge loan or
ment, which may be repaid from the proceeds of the issue along with
t to complete the project.
e stages of implementation and utilization of funds received through public progress made so far, giving details of land acquisition, civil works,
machinery, the approximate date of completion of the project and the mercial operation etc. The schedule shall be signed by the Chief Executive ctor, Chief Financial Officer and Chairman on behalf of Board of Directors
ts Progress made so Far Approxima
Completion of the projects
No land is required to acquire
ation of Acquisition and Installation of
Machineries will be started after
receivingof IPO fund
Within 6—of receiving IPO fund
2 Months after Acquisition of Machineries
icated Tin shed
Construction & other civil workswill be
started after receivingof IPO fund
Within 6-of receiving IPO fund
ricated Tin shed g for Tarpaulin
ricated Tin shed g for FIBC BAG
ated Tin shed 5,000 Store of spares, r consumable itemsrative Building nistration Building
foundation work. e completed.
Sd/- A B M Mahmudul Hasan Chief Financial Officer
Page | 124
prior to the public issue unds in the cash flow
prior to the public issue wing manner: eflected in Cash Flow
pital working progress
Paid of acquisition of ixed asset and capital
working progressPayment to supplier
closing bank balance
iate or any acquisition, ssuer as a result of the
ry, an associate or any
dditional fund must be nds are required to be etails of bridge loan or the issue along with
eceived through public quisition, civil works, of the project and the by the Chief Executive
lf of Board of Directors
mate date of tion of the ojects
Projected date of full commercial operation
- -
—8 months ng IPO fund
Within six month of the completion
of the project
ths after sition of
hineries
-12 months ng IPO fund
Sd/-Quazi Anwarul Haque
Chairman, On behalf of Board
f) If there are contracts covering any of the activities of the issuer for which the proceeds of sale of securities are to be used, such as contracts for the purchase of land or contracts for the construction of buildings, the issuer shall disclose the terms enclosed as annexure to the prospectus;
There is no such contract yet to be engaged by the company
g) If one of the objects of the issue is utilization of the issue proceeds for working capital, basis of estimation of working capital requirement along with the relevant assumptions, reasons for raising additional working capital substantiating the same withreasons for financing short with long term investments and an item wise breakworking capital and next two years projection;
No objects of the issue are utilization of the issue proceeds for
h) Where the issuer proposes to undertake one or more activities like diversification, modernization, expansion, etc., the total project cost activity
The company has planned to expand its existinConstruction & other civil worksImplementation schedule.
i) Where the issuer is implementing the project in a phased manner, the cost of each phase, including the phases, if any, which have already been implemented;
The company has planned to the funds, which have been mentioned in Use of IPO proceeds and projects Implementation schedule.
j) The details of all existing or anticipated material transactions in relation to utilization of the issue proceeds or project cost with sponsors, directors, key management personnel, associates and group companies; There is no existing or anticipated material transaction in relation to utilization of the issue proceeds or project cost with sponsors, directors, key managemen
k) Summary of the project appraisal/ feasibility report by the relevant professional people with cost of the project and means of finance, weaknesses and threats, if any, as given in the appraisal/ feasibility report.
Executive Summary Yeakin Polymer Limited is engaged in manufacturing and marketing quality packaging material as one of the pioneer company in this industrial sector in Bangladesh. The company as a public limited company and factory is situated at Labsha, Satkhira 60 kilometers away from Mongla port (next emerging business hub of the country).
We are running our business for manufacturing diversified different types bag in Bhave been loved and appreciated by a dedicated and growing group of loyal customers who recognize the difference of our product. Over the years we have gain satisfaction from our customers for providing quality product.
Introduction Yeakin Polymer Limited (February, 2001 as a Public Limited Company and started its commercial operation on 15th July, 2003. The company was converted into a Private Limited Company on 10th Noveagain it was re-converted into a Public Limited Company on 15th May, 2012. The Name of the Company was changed on 15th December, 2010 from Yeakin Business Limited into Yeakin Polymer Limited. The registered office of the Company is located aTower (6th Floor) and its factory is situated in its own premises at Labsha, Satkhira.
Vision To attain a position of leadership for manufacturing best quality diversified different type bag in Bangladesh for export as well as local market.
ering any of the activities of the issuer for which the proceeds of sale of such as contracts for the purchase of land or contracts for the construction all disclose the terms of such contracts, and copies of the contracts shall be he prospectus;
yet to be engaged by the company.
he issue is utilization of the issue proceeds for working capital, basis of pital requirement along with the relevant assumptions, reasons for raising al substantiating the same with relevant facts and figures and also the rt with long term investments and an item wise breaktwo years projection;
utilization of the issue proceeds for working capital.
es to undertake one or more activities like diversification, modernization, roject cost activity-wise or project wise, as the case may be;
d to expand its existing projects by Acquisition of Machinery & Equipment, l works, which have been mentioned in Use of IPO proceeds and projects
menting the project in a phased manner, the cost of each phase, including have already been implemented;
d to implement to the existing projects by using IPO proceeds after receiving n mentioned in Use of IPO proceeds and projects Implementation schedule.
or anticipated material transactions in relation to utilization of the issue with sponsors, directors, key management personnel, associates and group
ticipated material transaction in relation to utilization of the issue proceeds ors, directors, key management personnel, associates and group companies
ppraisal/ feasibility report by the relevant professional people with cost of finance, weaknesses and threats, if any, as given in the appraisal/ feasibility
Feasibility report of Yeakin Polymer Limited
s engaged in manufacturing and marketing quality packaging material as ny in this industrial sector in Bangladesh. The company any and factory is situated at Labsha, Satkhira 60 kilometers away from ng business hub of the country).
ness for manufacturing diversified different types bag in Bppreciated by a dedicated and growing group of loyal customers who f our product. Over the years we have gain satisfaction from our customers
duct.
(former Yeakin Business Limited) was incorporated in Bangladesh on 8th lic Limited Company and started its commercial operation on 15th July, converted into a Private Limited Company on 10th Nove
d into a Public Limited Company on 15th May, 2012. The Name of the n 15th December, 2010 from Yeakin Business Limited into Yeakin Polymer fice of the Company is located at 83, Sidheswari Circular Road, Manhattan factory is situated in its own premises at Labsha, Satkhira.
adership for manufacturing best quality diversified different type bag in well as local market.
Page | 125
the proceeds of sale of cts for the construction f the contracts shall be
orking capital, basis of ons, reasons for raising d figures and also the k-up of last three years
cation, modernization, may be;
achinery & Equipment, proceeds and projects
each phase, including
roceeds after receiving plementation schedule.
utilization of the issue l, associates and group
n of the issue proceeds and group companies.
nal people with cost of he appraisal/ feasibility
packaging material as ny established in 2001 kilometers away from
bag in Bangladesh. We loyal customers who
on from our customers
in Bangladesh on 8th peration on 15th July,
November, 2003 and 012. The Name of the ed into Yeakin Polymer cular Road, Manhattan hira.
d different type bag in
Mission To produce best quality diversified bag products by upgrading the production chain with installing modern machineries time to time and employing experts in this sector.
Nature of Business The principal activities of the company are to carry on the business of manufacturing and marketing (local & export) of PP woven regular bags [laminated & unattach bag, Jumbo / FIBC container bag reusable and recyclable shopping bag, fruiLeno bag, Garbage bag, Garments poly bag, HDPE / LDPE liner in different size, color, denier, mash.
Principal products of the CompanyThe principal activities of Yeakin Polymer Limited are manufacturing and marketing of different PP woven bag, FIBC container bag reusable and recyclable shopping bag, fruits and vegetable Leno bag, Garbage bag, Garments poly bag and liner. Yeakin Polymer Limited sells its products in local market.
Utilities Considerations Power: Total requirement of power is 2000 KVA. At present the Company has one substation (400 KVA) which is connected with Sathkhira Pally Biddut Samity. Besides, the Company has other three diesel generator as standby with the total capacity of 1,016 KVA. Howeverequirement 2000 KVA by procure a new 1500 KVA substation which is mentioned in the IPO proceed. Water: The project requires 5,000 litter of water per day on reuse basis which is met up from own deep tube-well through numbers of re servers.
GAS: This project has no required gas for its production line, gas may use only power generation and Khulna–satkhira area have no gas line.
Product Marketplace Yeakin Polymer Limited sells its products in local market. It start2016. Marketing Strategy On receiving the orders from its customers, Yeakin Polymer Limited manufactures the products and supplies them to the customers’ destination as per their requirements. Moreover, the Company maintains stocks for quick delivery to customer. The major customers are M/S. Mokbul Traders, M/S. Mostofa Traders,, Uttara Food Ltd., Aftab Feed Products Ltd., Rubel & Brothers, Rashied Agro and Satkhira Feed Industries Limited. From January 2016 company staFrance . The Company sales its product directly to customers.
Methodology We have considered our historical data of our last couple of year’s revenue and expenses. We have also talked with our staffs. The interviews provided us with the relevant information concerning all aspects sales and expenses. The responses to these opengreater depth of knowledge into their opinions and so we were able to address them to the best of our ability. We have also considered machinery inclusion and capacity utilization to the implementation of sales growth, and enough background information was included.
Once we have compiled and analyzed all our data and research we as a group, look at all the different options of implementing the living wall and then decide on the best option of the sales, current and future market and our saleable capacity in near future.
Financial Projections The financial projections for the addition for Yeakin Polymer Limited are highlighted in the table below. These figures account for projected productions, sales and additional
iversified bag products by upgrading the production chain with installing to time and employing experts in this sector.
the company are to carry on the business of manufacturing and marketing ven regular bags [laminated & un-laminated], BOPP film / Sack kraft paper
container bag reusable and recyclable shopping bag, fruiarments poly bag, HDPE / LDPE liner in different size, color, denier, mash.
CompanyYeakin Polymer Limited are manufacturing and marketing of different PP
r bag reusable and recyclable shopping bag, fruits and vegetable Leno bag, oly bag and liner. Yeakin Polymer Limited sells its products in local market.
wer is 2000 KVA. At present the Company has one substation (400 KVA) Sathkhira Pally Biddut Samity. Besides, the Company has other three diesel h the total capacity of 1,016 KVA. However, The Company will fulfill total by procure a new 1500 KVA substation which is mentioned in the IPO
0 litter of water per day on reuse basis which is met up from own deep rs of re servers.
ired gas for its production line, gas may use only power generation and e no gas line.
ells its products in local market. It starts export a portion of its sell from
rom its customers, Yeakin Polymer Limited manufactures the products and stomers’ destination as per their requirements. Moreover, the Company k delivery to customer. The major customers are M/S. Mokbul Traders, ttara Food Ltd., Aftab Feed Products Ltd., Rubel & Brothers, Rashied Agro ies Limited. From January 2016 company start export different type bags in es its product directly to customers.
historical data of our last couple of year’s revenue and expenses. We have s. The interviews provided us with the relevant information concerning all s. The responses to these open-ended questions have allowed us to have a
ge into their opinions and so we were able to address them to the best of our sidered machinery inclusion and capacity utilization to the implementation gh background information was included.
and analyzed all our data and research we as a group, look at all the ementing the living wall and then decide on the best option of the sales, t and our saleable capacity in near future.
for the addition for Yeakin Polymer Limited are highlighted in the table unt for projected productions, sales and additional staffing requirements.
Page | 126
n chain with installing
cturing and marketing film / Sack kraft paper g, fruits and vegetable
e, color, denier, mash.
arketing of different PP nd vegetable Leno bag,
oducts in local market.
substation (400 KVA) y has other three diesel mpany will fulfill total mentioned in the IPO
met up from own deep
power generation and
portion of its sell from
tures the products and oreover, the Company M/S. Mokbul Traders, Brothers, Rashied Agro rt different type bags in
and expenses. We have rmation concerning all e allowed us to have a them to the best of our to the implementation
group, look at all the est option of the sales,
ighlighted in the table affing requirements.
The assumptions for these projections are as foll(Each year calculation is made comparing with r
The project
Assumption indicator
Plant & MachineryAddition
Plant & Machinery will be pu
Capacity Increase Capacity will be increased asCapacity utilization Capacity utilization will be al
Sales Revenue Sales revenue will be increasintroduction of Export.
Operating expenses Operating expenses will be inwill lead to the higher increa
Fixed Asset Addition Fixed Asset will be increasedPaid up Capital Paid up Capital will be increaDividend Dividend is not considered he
Statement of Financial Position (Projected)
Particulars
Property & AssetsNon-current AssetsProperty, Plant & EquipmentCapital Work in ProgressCurrent AssetsInventoriesTrade ReceivableOther ReceivableAdvances, Deposits & PrepaymentsCash & Cash EquivalentTotal Assets & PropertyShareholders' Equity & LiabilitiesShareholders' EquityShare CapitalGeneral ReserveTax Holiday ReserveRetained EarningsNon-Current Liabilities
ows:respective previous year)
ted financial statement has been prepared on underlying assumption
Assumption's Basis 30-June-urchased for the purpose of capacity increase. 70,000,0
new machineries will be introduced. 35.87%lmost same. 70-75%sed for increasing quality, quantity and unit price as well as 21%
ncreased due to increase of production and sales. IPO expensese of Operating expenses in the year 2016. 104.47
in every year for the purpose of production increase. 96,007,7ased by Tk. 200,000,000 through IPO in the year 2016. 200,000,ere as the decision is not predetermined. -
Audited ProjeAmount in Taka Amount in Taka Amount
30-06-2015 2016 201
398,281,284 472,091,163 54308,752,054 387,597,385 4
89,529,230 84,493,778342,207,022 536,259,312 52124,650,443 137,115,487 1106,318,616 154,161,993 2
1,452,089 1,500,00056,207,148 70,258,93553,578,727 173,222,897
740,488,306 1,008,350,475 1,0
569,919,935 833,144,164 9390,000,000 590,000,000 5
8,357,000 8,357,00024,159,453 24,159,453
147,403,482 210,627,711 333,909,322 37,710,015 2
Page | 127
Assumptions Years-16 30-June-17 30-June-18
000 63,750,000 0
% 24.04% 0%% 70-75% 70-75%
25% 13%
7% (32.97%) 10.00%
775 110,106,219 75,570,962,000 - -
- -
ctedin Taka Amount in Taka
17 2018
47,128,054 521,953,06274,218,616 521,953,06272,909,438 -29,496,708 649,580,24857,682,810 204,987,65400,410,590 240,492,709
1,550,000 1,600,00087,823,669 100,997,21982,029,639 101,502,66676,624,762 1,171,533,309
51,278,754 1,069,080,23090,000,000 590,000,000
8,357,000 8,357,00024,159,453 24,159,45328,762,301 446,563,77724,677,207 23,730,325
Deferred Tax LiabilitiesLong Term Bank LoanCurrent LiabilitiesCurrent Portion of Long Term LoanShort Term Bank LoanTrade CreditorsLiabilities for ExpensesLiability for WPPFTotal shareholders’ Equity & Liabilities
Statement of Comprehensive Income (Projected)
Particulars
Sales RevenueExportLocalLess: Cost of Goods SoldGross Profit/ (Loss)Operating ExpensesAdministrative ExpensesSelling & Distribution ExpensesFinancial ExpensesFinancial ExpensesProfit from OperationsOther IncomeProfit before Contribution to WPPF & Income TaxLess: Provision for Contribution to WPPFNet Profit/ (Loss) after Contribution toWPPF but before Provision for Income TaxLess: Income Tax Expenses:Current TaxDeferred Tax (Income)/ExpensesNet Profit/ (Loss) after Provision for Income Taxtransferred to Retained EarningsEarnings per Share (EPS)
• Dividend is not considered
21,073,267 35,461,89612,836,055 2,248,119
136,659,050 137,496,296 105,293,968 5,293,968
58,193,990 52,374,5914,597,665 5,057,432
64,336,964 70,111,1404,236,463 4,659,165
740,488,306 1,008,350,476 1,0
Audited ProjeAmount in Taka Amount in Taka Amou
30-06-2015 2016 2419,920,083 508,103,300
- 152,430,990419,920,083 355,672,310306,932,915 370,661,358112,987,168 137,441,943
14,429,183 29,502,90411,026,775 25,760,256
3,402,408 3,742,64911,044,348 11,596,56511,044,348 11,596,56587,513,637 96,342,473
1,452,089 1,500,00088,965,726 97,842,473
4,236,463 4,659,165
84,729,263 93,183,30829,655,242 29,959,07819,657,463 15,570,449
9,997,780 14,388,630
55,074,021 63,224,2291.41 1.07
Page | 128
24,677,207 23,730,325- -
00,668,802 78,722,7542,248,119 -
36,662,214 25,663,5505,816,046 7,270,058
49,077,798 37,789,9056,864,625 7,999,242
76,624,762 1,171,533,309
ctednt in Taka Amount in Taka
2017 2018635,129,126 717,695,912190,538,738 215,308,774444,590,388 502,387,138462,310,490 520,688,384172,818,635 197,007,528
19,774,611 21,752,07215,470,565 17,017,622
4,304,046 4,734,45110,436,909 8,871,37310,436,909 8,871,373
142,607,115 166,384,0831,550,000 1,600,000
144,157,115 167,984,0836,864,625 7,999,242
137,292,490 159,984,84119,157,901 42,183,36529,942,590 43,130,246
(10,784,689) (946,882)
118,134,589 117,801,4762.00 2.00
Conclusion The feasibility of the project has been conducted and analyzed from the viewpoint of marketing, financial, management & economic aspects and found to be worthwhile. The projected financial results and the profitability estimated based on historical data shows that the project is viable and lucrative. This projection will help the interested parties to have an idea over the Yeakin Polymer Limited.
Terms of contract: As per Annexure-E(B)(21)(fRules, 2015 there is no contract covering any of the activities of the issuer Company for which the proceeds of sale of securities from IPO is to be used.
ject has been conducted and analyzed from the viewpoint of marketing, economic aspects and found to be worthwhile. The projected financial
ty estimated based on historical data shows that the project is viable and will help the interested parties to have an idea over the Yeakin Polymer
Mahbub H. Mazumdar FCMA
)(f) of the Bangladesh Securities and Exchange Commission (Public Issue) ontract covering any of the activities of the issuer Company for which the ies from IPO is to be used.
Page | 129
ewpoint of marketing, The projected financial e project is viable and er the Yeakin Polymer
Sd/- ub H. Mazumdar FCMA
mmission (Public Issue) ompany for which the
CHAPTER (XXIII): LOCK-IN
(a) Ordinary shares of the issuer shall be subject to lockcommercial operation, whichever comes later, in the following manner:
(1) All shares held, at the time of according consent to the public offer, by sponsors, directors and shareholders holding 5% or more shares, other than alternative investment funds, for 03(three) years;
(2) All shares allotted, before 02(two) years of according
than alternative investment funds, for 03(three) years;
(3) In case any existing sponsor or director of the issuer transfers any share to any person, other than existing shareholders, within preceding 12 (twof capital or initial public offer (IPO), all shares held by those transferee shareholders, for 03(three) years;
(4) 25% of the shares allotted to eligible investors, for 03 (three) months and other 25% allotted to them, for 06 (Six
(5) All shares held by alternative investment funds, for 01(one) year; and
(6) Shares allotted, within two years of according consent to the public offer, to any person other than the shares mentioned in sub
Provided that ordinary shares converted from any other type of securities shall also be subject to lockas mentioned above.
(b) The following table indicates the
SL Name of Shareholders Position
1 Quazi Anwarul Haque Chairman
2 S.M Akter Kabir Managing D
3 Sk. Jamil Hossain Sponsor4 Quazi Nazibul Haque D5 Satkhira Feed Inds. Ltd D6 Yeakin Agro Products Ltd. D7 Mrs. Sabrina Samsad D8 Quazi Emdadul Haque Sponsor
9 Mrs. Maliha Parvin Sponsor
10 Dr. S.M Maniruzzaman Shareholder11 Mrs. Julia Parvin D12 Dr. Faruque Hossain Shareholder13 Md. Babul Hossain Shareholder14 Aminur Rahman Shareholder15 A.K.M Quamruzzaman Shareholder16 Md. Haider Ali Shareholder
17 Sk. Ataul Haque Shareholder
18 Siddiqur Rahman Shareholder
19 Mahmudul Hasan Shareholder20 Ahmed Kabir Majumder Shareholder21 Eurodesh Consumer Products Ltd. Shareholder22 Deadal Merchant Alliance Ltd. Shareholder
23 BMSL Investment Ltd (Port Folio A/C)* Shareholder
24 Noor Afroz Akram Shareholder25 Md. Arif Akram Shareholder26 Khaja Corporation Shareholder27 Abdur Rouf Nistar Shareholder
28 Abdul Barik Biswas Shareholder
29 Bilkis Parvin Hassan Shareholder
30 Rafiqul Haider Chowdhry Shareholder
31 Saiyidah Hafsa Begum Shareholder
32 Mohammad Kamal Uddin Shareholder33 Badrul Hasan Shareholder
r shall be subject to lock-in, from thedate of issuance of prospectus or ver comes later, in the following manner:
me of according consent to the public offer, by sponsors, directors and or more shares, other than alternative investment funds, for 03(three)
02(two) years of according consent to the public offer, to any person, other nt funds, for 03(three) years;
sor or director of the issuer transfers any share to any person, other than hin preceding 12 (twelve) months of submitting an application for raising offer (IPO), all shares held by those transferee shareholders, for 03(three)
d to eligible investors, for 03 (three) months and other 25% ix) months; ive investment funds, for 01(one) year; and
o years of according consent to the public offer, to any person other than ub-rules (1), (2), (3), (4), and (5) above, for 01(one) year.
converted from any other type of securities shall also be subject to lock
he Lock-In status of the shareholders of Yeakin Polymer
osition No. of Shares % of Holding BO ID
hairman 2,180,000 5.59% 1201510051700425anaging irector 1,400,000 3.59% 1203390052473589
ponsor 1,250,000 3.21% 1204120052174095irector 1,530,000 3.92% 1204290043619323irector 4,200,000 10.77% 1605560058738980irector 2,260,000 5.79% 1605560058738999irector 1,180,500 3.03% 1202350003814185ponsor 220,000 0.56% 1204120052174036
ponsor760,000
3.23% 1203110000201998100,000400,000
reholder 1,250,000 3.21% 1203110053903778irector 1,277,000 3.27% 1201510054049195reholder 200,000 0.51% 1202830058817589reholder 20,000 0.05% 1202350020770654reholder 50,000 0.13% 1601880028773794reholder 40,000 0.10% 1202400021488171reholder 25,000 0.06% 1204290043005045
reholder101,000
3.87% 16049400614812381,410,000
reholder 10,000 1.56% 1202830059507954600,000reholder 273,000 0.70% 1205150055070792reholder 1,000 0.00% 1205150055070883reholder 1,500 0.00% 1205150055070966reholder 1,000 0.00% 1605410055070891
reholder 2,283,000 5.85% (Details are given below)
reholder 100,000 0.26% 1203040039545871reholder 200,000 0.51% 1201890024188455reholder 300,000 0.77% 1203040032865848reholder 50,000 0.13% 1203040009573216
reholder 100,000 0.51% 1204570044975787100,000
reholder 20,000 1.91% 1204570024481571725,000
reholder 10,000 0.28% 1204570034795791100,000
reholder 170,000 0.63% 120170002193565775,000
reholder 18,000 0.05% 1202540004524207reholder 200,000 0.51% 1202540000968592
Page | 130
ance of prospectus or
ponsors, directors and t funds, for 03(three)
er, to any person, other
any person, other than application for raising eholders, for 03(three)
her 25% of the shares
any person other than year.
o be subject to lock-in
mer Limited:
Date of acquisition
Lock-in Periodwill start from the issue date of Prospectus
8-Feb-01 3 Yrs.
8-Feb-01 3 Yrs.
8-Feb-01 3 Yrs.31-Oct-10 3 Yrs.31-Oct-10 3 Yrs.31-Oct-10 3 Yrs.8-Feb-01 3 Yrs.8-Feb-01 3 Yrs.8-Feb-01 3 Yrs.
18-Sep-13 3 Yrs.30-Mar-15 3 Yrs20-Nov-04 3 Yrs.10-Apr-12 3 Yrs.10-Apr-12 3 Yrs.10-Apr-12 3 Yrs.10-Apr-12 3 Yrs.10-Apr-12 3 Yrs.10-Apr-12 3 Yrs.10-Apr-12 3 Yrs.30-Mar-15 1 Yr.10-Apr-12 3 Yrs.30-Mar-15 1 Yr.10-Apr-12 3 Yrs.10-Apr-12 3 Yrs.10-Apr-12 3 Yrs.10-Apr-12 3 Yrs.
2-Jan-13 3 Yrs.
30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.30-Mar-15 1 Yr.30-Apr-12 3 Yrs.30-Mar-15 1 Yr.30-Apr-12 3 Yrs.30-Mar-15 1 Yr.30-Apr-12 3 Yrs.30-Mar-15 1 Yr.30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.
34 Morshad Chowdury Shareholder35 Md. Shahadat Hossain Khan Shareholder36 Golam Sattar Chowdhury Shareholder
37 Syed Jalal Ahmed Shareholder
38 Syed Jamal Ahmed Shareholder39 Md. Parvez Alam Shareholder40 Bijan Paul Shareholder41 Sohel Sattar Shareholder42 Md. Abdus Salim Shareholder43 Abu Raihan Shareholder44 Saiful Islam Shareholder45 Jashim Uddin Bhuiyan Shareholder46 Md. Anwar Habib Shareholder47 Kutub Uddin Ahmed Shareholder
48 BMSL Investment Limited. Shareholder
49 Grameen Capital Management Limited. Shareholder
50 GCML-Investor's Account(DA) Shareholder51 Tareq Ansar Ahmed Shareholder52 Dr. Md. Shajahan Kabir Shareholder53 Jannatun Hasan Shareholder54 Enamul Haque Shareholder
55 AIBL Capital Management Limited Shareholder
56 Badiur Rahman Shareholder
57 Ms. Shegufta Rahman Prima Shareholder
58 Ms. Rukhna Rahman Tasha Shareholder
59 Aj-Hajj Abdus samad Shareholder
60 S.M Shameem Iqbal Shareholder
61 Ms. Runa Kashem Shareholder
62 Mohammed Nasir Uddin Shareholder
63 Ashif Iqbal Chowdhury Shareholder
64 Rizia Halim Shareholder65 Md. Tazul Islam Shareholder66 Tanvir Mostafa Shareholder67 Abu Monsur Md. Syeduzzaman Shareholder
Total
*List of Investors under BMSL Investment Ltd. (Portfolio A/C):SL Name1 Rehanul Bari Chowdhury2 BMSL Investment Ltd.3 Mohammad Didarul Ahsan4 T.M. Mamun Kaiser5 Md. Ariful Hoque6 Afsia Aratun Nessa7 Sultana Razia8 Md. Yusuf Jamil9 Syed Imtiaz Hussain
10 Mizanur Rahman11 Md. Forhad Hossain12 Kazi Mohi Uddin13 Mohammad Taiab14 Badaruddin Ahmed15 Md. Fazla Kabir16 Labony Akter17 Kazi mainuddin Chistia18 Mortuza Mahmud Swapan19 Harun WB Chowdhury20 Alam Hossain21 Md. Mosaraf Hossain22 Md. Zafor ullah23 Masba Uddin Tipu24 Shamsul Alam25 Md. Towhidul Islam26 Shamoly Hossain Eva
Total
reholder 200,000 0.51% 1202540045056041reholder 350,000 0.90% 1202540003097401reholder 100,000 0.26% 1202540000287861
reholder 300,000 1.28% 1202130001697293200,000reholder 200,000 0.51% 1202130000074267reholder 6,000 0.02% 1202130044716384reholder 200,000 0.51% 1202130031050691reholder 6,000 0.02% 1202130045049426reholder 2,500 0.01% 1203110043492670reholder 100,000 0.26% 1203110043492670reholder 1,500 0.00% 1202880004010048reholder 1,000 0.00% 1201780026492607reholder 150,000 0.38% 1203260029223783reholder 20,000 0.05% 1203300019250416
reholder500,000
4.78% 12031100404163001,100,000265,000
reholder 1,000,000 2.56% 1201740000058659
reholder 2,722,000 6.98% 1201530000033793reholder 200,000 0.51% 1201530000033793reholder 50,000 0.13% 1203060049673611reholder 75,000 0.19% 1203060049673611reholder 310,000 0.79% 1203150032249050
reholder 500,000 3.85% 12042900450628251,000,000
reholder 20,000 0.51% 1204290045193105180,000
reholder 20,000 0.38% 1204290044540108130,000
reholder 20,000 0.38% 1204290044540116130,000
reholder 20,000 1.28% 1203850007574929480,000
reholder 20,000 1.28% 1204290043688750480,000
reholder 20,000 2.31% 1204750014332193880,000
reholder 20,000 2.31% 1204750054857204880,000
reholder20,000
0.77% 1605550059758671280,000reholder 150,000 0.38% 1202830058133737reholder 375,000 0.96% 1202830048267036reholder 50,000 0.13% 1605550059757527reholder 75,000 0.19% 1203910059420126
39,000,000 100.00%
tfolio A/C):Account Number Total ShareholdingA/C Code - 8732 200,000A/C Code – 9999 12,000A/C Code – 8744 40,000A/C Code – 8749 100,000A/C Code – 8585 60,000A/C Code – 8755 20,000A/C Code – 8756 38,000A/C Code – 8717 30,000A/C Code – 8000 100,000A/C Code – 8558 200,000A/C Code – 8181 10,000A/C Code – 8746 200,000A/C Code – 8747 200,000A/C Code – 7028 500,000A/C Code – 8762 20,000A/C Code – 8708 10,000A/C Code – 8246 50,000A/C Code – 8360 100,000A/C Code – 8763 50,000A/C Code – 8767 5,000A/C Code – 8766 28,000A/C Code – 8092 50,000A/C Code – 8770 50,000A/C Code – 8772 150,000A/C Code – 7620 10,000A/C Code – 8779 50,000
2,283,000
Page | 131
30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.30-Mar-15 1 Yr.30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.30-Apr-12 3 Yrs.10-Apr-12 3 Yrs.6-Jan-13 3 Yrs.
10-Apr-12 3 Yrs.10-Apr-12 3 Yrs.30-Apr-12 3 Yrs.18-Sep-13 3 Yrs.18-Sep-13 3 Yrs.30-Mar-15 1 Yr.18-Sep-13 3 Yrs.
18-Sep-13 3 Yrs.
18-Sep-13 3 Yrs.18-Sep-13 3 Yrs.18-Sep-13 3 Yrs.18-Sep-13 3 Yrs.18-Sep-13 3 Yrs.18-Sep-13 3 Yrs.30-Mar-15 1 Yr.18-Sep-13 3 Yrs.30-Mar-15 1 Yr.10-Apr-12 3 Yrs.30-Mar-15 1 Yr.10-Apr-12 3 Yrs.30-Mar-15 1 Yr.10-Apr-12 3 Yrs.30-Mar-15 1 Yr.10-Apr-12 3 Yrs.30-Mar-15 1 Yr.10-Apr-12 3 Yrs.30-Mar-15 1 Yr.18-Sep-13 3 Yrs.30-Mar-15 1 Yr.18-Sep-13 3 Yrs.30-Mar-15 1 Yr.18-Sep-13 3 Yrs.31-Oct-10 3 Yrs.31-Oct-10 3 Yrs.31-Oct-10 3 Yrs.
BO-ID16049400473600201604940047360450160494004736012016049400473601601604940047358710160494004736969016049400473602001604940047359920160494004735351016049400473584401604940047355070160494004736013016049400473601401604940047375130160494004736024016049400473598401604940047355690160494004735664016049400473602501604940047360270160494004736026016049400473542601604940047360310160494004736971016049400473482501604940047360390
CHAPTER (XXIV): MARKETS FOR THE SECURITIES BEING OFFERED
Stock Exchanges: The issuer shall apply to the following bourses for listing shares within 7 of consent accorded by the Commission to issue the prospectus:
Dhaka Stock Exchange Limited (DSE)9/F, Motijheel C/A, Dhaka
Chittagong Stock Exchange Limited (CSE)CSE Building, 1080 Sheikh Mujib Road,
Declaration about Listing of Shares with Stock Exchanges:
None of the Stock Exchanges, if for any reason, grant listing within 75 days from the closure of subscription, any allotment in terms of this prospectus shall be void and the Company within fifteen days from the date of refusal for listing by the stock exchange, or from the date of expiry of the said 75 (seventy-five) days, as the case may be.
In case of non‐refund of the subscription money within taddition to the issuer company, shall be collectively and severally liable for refund of the subscription money, with interest at the rate of 2% (two percent) per month above the bank rate, to the subscr
The issue managers, in addition to the issuer Company, shall ensure due compliance of the above mentioned conditions and shall submit compliance report thereon to the Commission within seven days of expiry of the aforesaid fifteen days’ time period allowed for refund of the
Trading and Settlement; Trading and Settlement Regulation of the stock exchanges will apply in respect of trading and settlement of the shares of the Company.
THE ISSUE SHALL BE PLACED IN “N” CATEGORY
FOR THE SECURITIES BEING OFFERED
ing bourses for listing shares within 7 (seven) working days from the date ssion to issue the prospectus:
nge Limited (DSE), Dhaka‐1000; and
xchange Limited (CSE)0 Sheikh Mujib Road, Chittagong.
with Stock Exchanges:
any reason, grant listing within 75 days from the closure of subscription, pectus shall be void and the Company shall refund the subscription money f refusal for listing by the stock exchange, or from the date of expiry of the case may be.
iption money within the aforesaid fifteen days, the Company directors, in all be collectively and severally liable for refund of the subscription money, percent) per month above the bank rate, to the subscr
the issuer Company, shall ensure due compliance of the above mentioned ance report thereon to the Commission within seven days of expiry of the allowed for refund of the subscription money.
of the stock exchanges will apply in respect of trading and settlement of
SHALL BE PLACED IN “N” CATEGORY WITH DSE & CSE
Page | 132
ng days from the date
osure of subscription, e subscription money e date of expiry of the
ompany directors, in e subscription money, cribers concerned.
the above mentioned days of expiry of the
ng and settlement of
SECTION (XXV): DESCRIPTION OF SECURITIES OUTSTANDING OR BEING OFFERED
(a) Dividend, voting and preemption rights;The Share Capital of the company is divided into Ordinary Shares, carrying equal rights to vote and receive dividend in terms of the relevant provisions Association of the company. All Shareholders shall have the usual voting rights in person or by proxy in connection with, among others, election of Directors & Auditors and other usual agenda of General Meeting – Ordinary or Extra-every duly authorized representative of a shareholder present at a General Meeting shall have one vote and on a poll every shareholder present or by proxy shall haveher.
In case of any additional issue of shares for raising further capital the existing shareholders shall be entitled to Right Issue of shares in terms of the guidelines issued by the BSEC from time to time.
(b) Conversion and liquidation rights;In terms of provisions of the Companies Act 1994, Articles of Association of the Company and other relevant rules in force, the shares of the Company are freely transferable. The Company shall not charge any fee for registering transfer of shares. No transfer shall be made to a firm, an infant or person of unsound mind.
(c) Dividend policy; i. The profit of the Company, subject to any special right relating thereto created or authorized to be
created by the Memorandum and subjectdivisible among the members in proportion to the amount of capital paidthem respectively.
ii. No large dividend shall be declared than is recommended by the Directors, but thGeneral Meeting may declare a smaller dividend. The declaration of Directors as to the amount of Net profit of the Company shall be conclusive.
iii. No dividend shall be payable except out of the profits of the Company or any other undistributeprofits. Dividend shall not carry interest as against the Company.
iv. The Directors may from time to time pay the members such interim dividend as in their judgment the financial position of the Company may justify.
v. A transfer of shares shall not pass the rof transfer.
vi. No limitation in payment of dividend is stipulated in any debt instrument or otherwise.
(d) Other rights of the securities holders;
In terms of the provisions of the Companies Act 1994, Articles of Association of the Company and other relevant rules in force, the shares of the Company are transferable. The Company shall not charge any fee, other than Government duties for registering tor person of unsound mind.
The Directors shall present the financial statements as required under the law & International Accounting Standard. Financial statements will be prepared in accordance witStandards consistently applied throughout the subsequent periods and present with the objective of providing maximum disclosure as par law and International Accounting Standard to the shareholders regarding the financial and operational position of the company. The shareholders shall have the right to receive all periodical statement and reports, audited as well as un audited, published by the company from time to time. The shareholder holding minimum of 10% shares of paidto requisition extra ordinary General Meeting of the company as provided for the section 84 of the Companies Act 1994.
ON OF SECURITIES OUTSTANDING OR BEING OFFERED
ion rights;mpany is divided into Ordinary Shares, carrying equal rights to vote and
the relevant provisions of the Companies Act 1994 and the Articles of ll Shareholders shall have the usual voting rights in person or by proxy in
ers, election of Directors & Auditors and other usual agenda of General -ordinary. On a show of hand, every shareholder presents in person and ntative of a shareholder present at a General Meeting shall have one vote er present or by proxy shall have one vote for every share held by him or
ue of shares for raising further capital the existing shareholders shall be s in terms of the guidelines issued by the BSEC from time to time.
ghts;Companies Act 1994, Articles of Association of the Company and other
ares of the Company are freely transferable. The Company shall not charge er of shares. No transfer shall be made to a firm, an infant or person of
y, subject to any special right relating thereto created or authorized to be dum and subject to the provisions of the Articles of Association, shall be bers in proportion to the amount of capital paid-up on the shares held by
e declared than is recommended by the Directors, but thclare a smaller dividend. The declaration of Directors as to the amount of
shall be conclusive.able except out of the profits of the Company or any other undistributecarry interest as against the Company.
me to time pay the members such interim dividend as in their judgment the ompany may justify.not pass the right to any dividend declared thereon before the registration
of dividend is stipulated in any debt instrument or otherwise.
olders;
he Companies Act 1994, Articles of Association of the Company and other ares of the Company are transferable. The Company shall not charge any
uties for registering transfer of shares. No transfer shall be made to a minor
e financial statements as required under the law & International Accounting ts will be prepared in accordance with the International Accounting d throughout the subsequent periods and present with the objective of re as par law and International Accounting Standard to the shareholders perational position of the company. The shareholders shall have the right to nt and reports, audited as well as un audited, published by the company
mum of 10% shares of paid-up capital of the company shall have the right General Meeting of the company as provided for the section 84 of the
Page | 133
NG OFFERED
ual rights to vote and 94 and the Articles of
person or by proxy in ual agenda of General presents in person and ng shall have one vote y share held by him or
shareholders shall be ime to time.
e Company and other mpany shall not charge an infant or person of
ed or authorized to be of Association, shall be
on the shares held by
but the Company in its rs as to the amount of
ny other undistributed
s in their judgment the
before the registration
herwise.
he Company and other y shall not charge any all be made to a minor
ternational Accounting ernational Accounting with the objective of
rd to the shareholders shall have the right to
ished by the company
ny shall have the right the section 84 of the
CHAPTER (XXVI): FINANCIAL STATEMENTS
We have audited the accompanying financial statements of Statement of Financial Position as at 30Income, Statement of Changes in Equity and Statemconsolidated financial statements and a summary of significant accounting policies and other explanatory notes. The Managements’ Responsibility for the Financial StatementsThe Management is responsible for the preparation of financial statements that give a true and fair view in accordance with International Financial Reporting Standards (IFRS), Bangladesh Financial Reporting Standards (BFRS), the Companies Actlaws and regulations. This responsibility includes: designing, Implementing and relevant to the preparation and fair preparation of financial statements that misstatements, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.
Auditors' Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing (ISA) and Bangladesh Standards on Auditing (BAS). Those standards require that we comply with ethical requirements obtain reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedure to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors' judgment, including the assessment of the risks of the material misstatement of the financial statements, whether due to error. In making those risk assessments, the auditor considers internal control relevanthe 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 entity's internal coincludes evaluating the appropriateness of accounting 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 andaudit opinion. Opinion: In our opinion, the financial statements including consolidated financial statements, prepared in accordance with International Financial Reporting Standards (IFRS) and Bangladesh Financial Reporting Standards (BFRS) give a true and fair view of the state of the company as at 30th June, 2015 and of the results of its operations and its cash flows for the year then ended in accordance witlaws and regulations. Other matter: Under BSA: 560We draw attention tonote no. 3.16 to the financial statements which describes the presentation of statements of cash flows. Our opinion is not qualified in
We also Report that: (a) We have obtained all the information and explanation which to the 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 of
appeared from our examination of those books;(c) The Company’s Statement of Financial Position, Statement of Appropriation Account, Statement of
Comprehensive Income and Statement of Cash Fbooks of account;
(d) The expenditure incurred was for the purpose of Company’s business.
AL STATEMENTS
AMENDEDAUDITORS’ REPORT
ying financial statements of Yeakin PolymerLimited at 30th June, 2015 and Statement of Profit or Loss and Other Comprehensive Equity and Statement of Cash Flows for the year then ended and a summary of significant accounting policies and other explanatory
or the Financial Statementsr the preparation of financial statements that give a true and fair view in
Financial Reporting Standards (IFRS), Bangladesh Financial Reporting Act, 1994, the Securities and Exchange Rules, 1987 and other applicable ibility includes: designing, Implementing and maintaining
fair preparation of financial statements that are free from material aud or error; selecting and applying appropriate accounting policies; and are reasonable in the circumstances.
n opinion on these financial statements based on our audit. We conducted nternational Standards on Auditing (ISA) and Bangladesh Standards on equire that we comply with ethical requirements and plan and perform to whether the financial statements are free from material misstatement.
cedure to obtain audit evidence about the amounts and disclosures in the res selected depend on the auditors' judgment, including the assessment of ent of the financial statements, whether due to error. In making those risk internal control relevant to the entity's preparation and fair presentation of design audit procedures that are appropriate in the circumstances, but not
opinion on the effectiveness of the entity's internal coeness of accounting estimates made by management, as well as evaluating ncial statements.
e we have obtained is sufficient and appropriate to provide a basis for our
ments including consolidated financial statements, prepared in accordance ting Standards (IFRS) and Bangladesh Financial Reporting Standards (BFRS) te of the company as at 30th June, 2015 and of the results of its operations n ended in accordance with the Companies Act, 1994 and other applicable
draw attention tonote no. 3.16 to the financial statements which describes ash flows. Our opinion is not qualified in respect of this matter.
ormation and explanation which to the best of our knowledge and belief e of our audit and made due verification thereof;of account as required by law have been kept by the Company as far as it
on of those books;f Financial Position, Statement of Appropriation Account, Statement of tatement of Cash Flows dealt with by the report is in agreement with the
And for the purpose of Company’s business.
CHARTERED ACCOUNTANTS
Page | 134
Date: 11.02.2016
ed whichcomprise the d Other Comprehensive n ended and all related and other explanatory
a true and fair view in h Financial Reporting 7 and other applicable aining internal control re free from material counting policies; and
r audit. We conducted ngladesh Standards on
d plan and perform to rial misstatement.
and disclosures in the ding the assessment of r. In making those risk and fair presentation of circumstances, but not control. An audit also
t, as well as evaluating
provide a basis for our
repared in accordance orting Standards (BFRS) results of its operations 4 and other applicable
ments which describes his matter.
knowledge and belief
e Company as far as it
Account, Statement of in agreement with the
Sd/- ARTISAN
TERED ACCOUNTANTS
YEAKIN POLYMER LIMITED83, Siddeswari Circular Road,Manhatton Tower (6thFloor),Malibag More, Dhaka-1217.
Particulars
Property & Assets
Non-current AssetsProperty, Plant & EquipmentCapital Work in ProgressCurrent AssetsInventoriesTrade ReceivableOther ReceivableAdvances, Deposits & PrepaymentsCash & Cash EquivalentTotal Assets & Property
Shareholders' Equity & LiabilitiesShareholders' Equity
Share CapitalGeneral ReserveTax Holiday ReserveRetained Earnings
Non-Current Liabilities
Deferred Tax LiabilitiesLong Term Bank Loan
Current Liabilities
Current Portion of Long Term LoanShort Term Bank LoanTrade CreditorsLiabilities for ExpensesLiability for WPPFTotal shareholders Equity & Liabilities
Net Asset Value Per Share (NAV)
Sd/-Chief Financial Officer
Signed in terms of our annexed report of even date.
Dated; Dhaka, the 11th February, 2016.
CHARTERED ACCOUNTANTS
Statement of Financial PositionAs at 30thJune, 2015
Notes Amount in Taka30-06-2015
398,281,28404. 308,752,05405. 89,529,230
342,207,02206. 124,650,44307. 106,318,61608. 1,452,08909. 56,207,14810. 53,578,727
740,488,306
569,919,935
11. 390,000,0008,357,000
24,159,45312. 147,403,482
33,909,322
13. 21,073,26714. 12,836,055
136,659,050
n 14. 5,293,96815. 58,193,99016. 4,597,66517. 64,336,96418. 4,236,463
ties 740,488,306
29. 14.61
Sd/-Managing Director
d in terms of our annexed report of even date.
016. CHARTERED ACCOUNTANTS
Page | 135
ARTISANTERED ACCOUNTANTS
nt in Taka30-06-2014
270,396,984270,396,984
-234,707,166
99,881,26078,909,306
-44,063,17411,853,426
505,104,150
370,275,914
240,000,0008,357,000
24,159,45397,759,461
11,886,737
11,075,487811,250
122,941,499
563,75071,653,196
2,086,40645,633,888
3,004,259505,104,150
15.43
Sd/-Chairman
Sd/-ARTISAN
RTERED ACCOUNTANTS
YEAKIN POLYMER LIMITED83, Siddeswari Circular Road,Manhatton Tower (6thFloor),Malibag More, Dhaka-1217.
Statement of Profit or Loss and Other Comprehensive Income
Particulars
Sales RevenueLess: Cost of Goods SoldGross Profit/ (Loss)Operating ExpensesAdministrative ExpensesSelling & Distribution ExpensesFinancial ExpensesFinancial ExpensesProfit from OperationsOther IncomeProfit before Contribution to WPPF & Income TaxLess: Provision for Contribution to WPPFNet Profit/ (Loss) after Contribution toWPPF but before Provision for Income TaxLess: Income Tax Expenses:Current TaxDeferred Tax (Income)/ExpensesNet Profit/ (Loss) after Provision for Income Taxtransferred to Retained Earnings
Earnings Per ShareAdjusted Earnings Per Share
Sd/-Chief Financial Officer
Signed in terms of our annexed report of even date.
Dated; Dhaka, the 11th February, 2016.
CHARTERED ACCOUNTANTS
of Profit or Loss and Other Comprehensive IncomeFor the year ended 30thJune, 2015
Notes Amount in Taka30-06-2015
19. 419,920,08320. 306,932,915
112,987,16814,429,183
21. 11,026,77522. 3,402,408
11,044,34823. 11,044,348
87,513,63724. 1,452,089
& Income Tax 88,965,726WPPF 25. 4,236,463n to
ome Tax 84,729,26329,655,242
26. 19,657,46327. 9,997,780
r Income Tax55,074,021
28. 1.9828. 1.98
Sd/-Managing Director
d in terms of our annexed report of even date.
016. CHARTERED
Page | 136
ARTISANTERED ACCOUNTANTS
mount in Taka5 30-06-201483 316,742,01015 233,093,13468 83,648,87683 12,520,09575 9,301,83708 3,218,25848 8,600,63148 8,600,63137 62,528,15089 561,30226 63,089,45263 3,004,259
63 60,085,19342 23,131,76563 21,029,81780 2,101,948
21 36,953,428
98 1.6498 1.33
Sd/-Chairman
Sd/-ARTISAN
RTERED ACCOUNTANTS
YEAKIN POLYMER LIMITED83, Siddeswari Circular Road,Manhatton Tower (6thFloor),Malibag More, Dhaka-1217.
Particulars
Balance at 1stJuly, 2014 240,000,000Share Capital 150,000,000Net Profit/ (Loss) after tax for the period ended 30th June, 2015Dividend PaidBalance at 30thJune, 2015 390,000,000
Particulars
Balance at 1stJuly, 2013 169,590,000Share Capital 7DividendNet Profit/ (Loss) after tax for the year ended 30th June, 2014. Balance at 30thJune, 2014.. 240,000,000
Sd/-Chief Financial Officer
Signed in terms of our annexed report of even date.
Dated; Dhaka, the 11th February, 2016.
CHARTERED ACCOUNTANTS
Statement of Changes in EquityFor the year ended 30thJune, 2015
Amount in TakaShare Share General Tax Retained
Capital Money Reserve Holiday EarningsDeposit Reserve
40,000,000 - 8,357,000 24,159,453 97,759,46150,000,000 - - -
- - - - 55,074,021
- - - - (5,430,000)90,000,000 - 8,357,000 24,159,453 147,403,482
Statement of Changes in EquityFor the year ended 30th June, 2014
Amount in TakaShare Share General Tax Retained
Capital Money Reserve Holiday EarningsDeposit Reserve
69,590,000 35,910,000 8,357,000 24,159,453 65,575,28470,410,000 (35,910,000) - -
- - - - (4,769,250)
- - - - 36,953,427
40,000,000 - 8,357,000 24,159,453 97,759,461
Sd/-Managing Director
d in terms of our annexed report of even date.
016. CHARTERED ACCOUNTANTS
Page | 137
ARTISANTERED ACCOUNTANTS
tained Totalrnings Shareholders
Equity,759,461 370,275,914
- 150,000,000
,074,021 55,074,021
430,000) (5,430,000),403,482 569,919,935
tained Totalrnings Shareholders
Equity,575,284 303,591,737
- 34,500,000769,250) (4,769,250)
,953,427 36,953,427
,759,461 370,275,914
Sd/-Chairman
Sd/-ARTISANED ACCOUNTANTS
YEAKIN POLYMER LIMITED83, Siddeswari Circular Road,Manhatton Tower (6th Floor),Malibag More, Dhaka-1217.Statement of Cash Flows
Particulars
A. Cash flow from operating activities:
Cash received during the year
Cash received from customers & other
Cash payment during the year
Less: Cash payment to suppliers, employee and otherCash payment for income tax
Net cash provided/ (used) by operating activities
B. Cash flow from investing activities:
Paid for acquisition of fixed assetsCapital Work in Progress
Net cash provided/ (used) by investing activities
C. Cash flow from financing activities:
Issuance of ordinary shares Cash payment for financial expensesShort term bank loan receipt/(paid)Long term bank loan receiptDividend paid
Net cash provided/ (used) by financing activities
D. Net Increase/ (Decrease) in cash (A+B+C)
E. Opening cash & cash equivalents
Closing cash & cash equivalents (D+E)
Net Operating Cash Flow Per share
Sd/-Chief Financial Officer
Signed in terms of our annexed report of even date.
Dated; Dhaka, the 11th February, 2016.
CHARTERED ACCOUNTANTS
For the year ended 30th June, 2015
Amount in Taka30-06-2015
ties:
ear 392,510,773
ers & other 392,510,773
ear 341,930,755
employee and other 339,407,061 ax 2,523,694
by operating activities 50,580,019
ties:
d assets (56,146,957)(89,529,230)
by investing activities (145,676,187)
ties:
150,000,000 expenses (11,044,348)
pt/(paid) (13,459,206)t 16,755,023
(5,430,000)
by financing activities 136,821,469
h (A+B+C) 41,725,301
uivalents 11,853,426
lents (D+E) 53,578,727
w Per share 1.30
Sd/-Managing Director
d in terms of our annexed report of even date.
016. CHARTERED ACCOUNTANTS
Page | 138
ARTISANTERED ACCOUNTANTS
in Taka30-06-2014
291,322,445
291,322,445
282,884,612
281,270,476 1,614,136
8,437,833
(65,196,246)-
(65,196,246)
34,500,000 (8,600,631)21,785,938
1,375,000 (4,769,250)
44,291,057
(12,467,356)
24,320,782
11,853,426
0.35
Sd/-Chairman
Sd/-ARTISAN
RTERED ACCOUNTANTS
YEAKIN POLYMER LIMITED83, Siddeswari Circular Road,Manhatton Tower (6thFloor),Malibag More,Dhaka-1217.
01. Reporting Entity:01.1 Company Profile:
Yeakin Polymer Limited (former Yeakin Business Limited) was incorporated in Bangladesh on 8th February, 2001 as a Public Limited Company. The company was converted into a Private Limited Company on 10th November, 2003 and again it was reon 15th may, 2012. The name of the Company was changed on 15th December, 2010 froBusiness Limited to Yeakin Polymer Limited.
01.2 Registered Offices:The registered office of the company is located at 83, Siddeshwari Circular Road, Manhattan Tower (6thFloor), Malibagh, Dhaka
01.3 Nature of Business:The principal activities of the company are to carry on the business of manufacturing and marketing (local & export) of PP woven regular bags [laminated & unKraft paper attach bag, Jumbo / FIBC bag and HDPE / LDPE liner in different size, color, denier, mash, etc.
02. Basis of Preparation:02.1 Statement of Compliance:
This financial statement has been prepared on going concern concept and on accrual basis in accordance with the applicable as of International Accounting Standards (IAS), Bangladesh Accounting Standards (BAS) and Bangladesh Financial Reporting Standards (BFRSs), the CompAct 1994, the Securities and Exchange Rules 1987, The Income Tax Ordinance, 1984, The Value Added Tax Act, 1991, The Value Adapplicable laws and regulations.
02.2 Applicable Bangladesh Accounting Standards (BAS):The following BASs are applicable for the financial statements for the year under review:BAS- 1 Presentation of BAS- 2 InventoriesBAS- 7 Statements ofBAS- 10 Events After the Reporting Period.BAS- 12 Income TaxesBAS- 16 Property, Plant & EquipmentBAS- 18 RevenueBAS- 19 Employee BenefitsBAS- 21 The Effects of Changes in Foreign Exchange RatesBAS- 23 Borrowing CostsBAS- 24 Related Party DisclosuresBAS- 33 Earnings Per BAS- 36 Impairment of AssetsBAS- 37 Provisions, Contingent Liabilities and Contingent AssetsBAS- 39 Financial Instrument: Recognition and
02.3 Approval of Financial Statements:The financial statement was duly approved by the Board of Directors.
02.4 Functional and Presentational Currency:The financial statement is presented in currency and presentation currency of the company. The figures of financial statements have been rounded off to the nearest Taka.
02.5 Use of Estimates and Judgments:The preparation of financial statements requires management to make and apply consistently of judgment, estimates and assumptions for records and balance that affect the application of accounting policies and the reported amounts of assets, liabilities, income
TEDRoad, CHARTERED ACCOUNTANTSoor),
Notes to the Financial StatementsFor the year ended 30thJune, 2015
(former Yeakin Business Limited) was incorporated in Bangladesh on 8th blic Limited Company. The company was converted into a Private Limited mber, 2003 and again it was re-converted into a Public Limited Company name of the Company was changed on 15th December, 2010 fro
kin Polymer Limited.
he company is located at 83, Siddeshwari Circular Road, Manhattan Tower haka-1217, Bangladesh.
of the company are to carry on the business of manufacturing and rt) of PP woven regular bags [laminated & un-laminated], BOPP film / Sack Jumbo / FIBC bag and HDPE / LDPE liner in different size, color, denier,
e:t has been prepared on going concern concept and on accrual basis in applicable as of International Accounting Standards (IAS), Bangladesh BAS) and Bangladesh Financial Reporting Standards (BFRSs), the Comp
and Exchange Rules 1987, The Income Tax Ordinance, 1984, The Value The Value Added Tax Rules, 1991, The Customs
ulations.
Accounting Standards (BAS):applicable for the financial statements for the year under review:entation of Financial Statementsntoriesments of Cash Flowsts After the Reporting Period.me Taxeserty, Plant & Equipmentnueloyee BenefitsEffects of Changes in Foreign Exchange Ratesowing Costsed Party Disclosuresings Per Share
airment of Assetsisions, Contingent Liabilities and Contingent Assetsncial Instrument: Recognition and Measurement
atements:was duly approved by the Board of Directors.
tional Currency:is presented in Bangladesh Taka (Taka/ Tk.), which is both functional
on currency of the company. The figures of financial statements have been st Taka.
gments:ncial statements requires management to make and apply consistently of
nd assumptions for records and balance that affect the application of the reported amounts of assets, liabilities, income and expenses.
Page | 139
ARTISANTERED ACCOUNTANTS
d in Bangladesh on 8th into a Private Limited
ublic Limited Company ber, 2010 from Yeakin
oad, Manhattan Tower
of manufacturing and ated], BOPP film / Sack rent size, color, denier,
nd on accrual basis in rds (IAS), Bangladesh (BFRSs), the Companies ance, 1984, The Value Act, 1969 and other
nder review:
ich is both functional l statements have been
d apply consistently of ect the application of d expenses.
02.6 Reporting Period:The accounting period of the company covers financial period from 12015.
02.7 Going Concern:As per BAS- 1, a company is required tocapability to continue as going concern. Management of the company makes such assessment each year. The company has adequate resources to continue in operation for the foreseeable future and has wide coverage of its liabilities. For this reason the Directors continue to adopt the going concern assumption while preparing the financial statements.
03. Significant Accounting Policies:The accounting policies set out below have periods presented in these financial statements.
03.1 Financial Instruments:Non-derivative financial instruments comprise accounts and other receivables, cash and cash equivalents, loan and borrowings and other payables are shown at transaction cost.
03.2 Property, Plant and Equipment:03.2.1 Recognition and Measurement:
Items of property, plant and equipment, less accumulated depreciation and accumulated impairment losses (if any) in compliance with BAS-16.The cost of an item of property, plant and equipment comprises its purchase price, import duties and non-refundable taxes (after deducting trade discount and rebates) and any costs directly attributable to bringing the assets to the location and condition necessary for it to be capable of operating in the intended manner.
03.2.2 Subsequent Costs:The cost of replacing part of an item of property, plant and equipment is amount of the item if it is probable that the future economic benefits embodied within the part will flow to the company and its cost can be measured reliably. The costs of the dayproperty, plant and equipment are incurred.
03.2.3 Depreciation:Depreciation has been charged on item of property, plant and equipment except land and land development is recognized in the statement of comprehensive income using over the estimated useful lives of each items. Depreciation on additthe Assets are ready for use. The rate of depreciation varies from 5% to 20% p.a. based on useful lives and nature of the assets. Rate of depreciation on property, plant and equipment considering their useful lives are as fo
The annual depreciation rates applicable to the principal categories are:Sl. No. Item of property, plant and equipment
01. Land and Land Development02. Factory Building03. Plant & Machinery04. Office Equipment05. Furniture & Fixture06. Vehicles
03.3 Inventories:Inventories consist of Raw Materials, are stated at the lower of cost or net realizable value (NRV) in accordance with the BASInventories after making due adjustments for any obsolete or slow moving item. The cost of inventories is assigned by using weighted average cost.
03.4 Impairment:The company reviews the recoverable amount of its assets other than inventories at each reporting date. If there exist any indication that the carrying amount of assets exceeds the recoverable amount, the company recognized such impairment loss in accordance BAS
03.5 Trade Receivables:Trade and other receivables are initially consideration given in return. After initial recognition these are carried
of the company covers financial period from 1stJu
any is required to make assessment at the end of each year to assess its s going concern. Management of the company makes such assessment each adequate resources to continue in operation for the foreseeable future and its liabilities. For this reason the Directors continue to adopt the going ile preparing the financial statements.
Policies:set out below have been applied consistently (otherwise as stated) to all
se financial statements.
al instruments comprise accounts and other receivables, cash and cash rrowings and other payables are shown at transaction cost.
pment:ement:and equipment, excluding land and land development are measured at cost ciation and accumulated impairment losses (if any) in compliance with tem of property, plant and equipment comprises its purchase price, import ble taxes (after deducting trade discount and rebates) and any costs directly the assets to the location and condition necessary for it to be capable of
d manner.
rt of an item of property, plant and equipment is recognizedis probable that the future economic benefits embodied within the part will d its cost can be measured reliably. The costs of the dayuipment are recognized in the Statement of Compre
charged on item of property, plant and equipment except land and land ed in the statement of comprehensive income using l lives of each items. Depreciation on addition to fixed Assets charged when use. The rate of depreciation varies from 5% to 20% p.a. based on useful
assets. Rate of depreciation on property, plant and equipment considering ollows.
icable to the principal categories are:m of property, plant and equipment 30-06-2
and Land Development -ory Building 5%t & Machinery 6.5%ce Equipment 20%iture & Fixture 10%cles 10%
aw Materials, Work-In-Process, Finished Goods and Stores & Spares. They r of cost or net realizable value (NRV) in accordance with the BASng due adjustments for any obsolete or slow moving item. The cost of y using weighted average cost.
he recoverable amount of its assets other than inventories at each reporting indication that the carrying amount of assets exceeds the recoverable
cognized such impairment loss in accordance BAS-3
vables are initially recognized at cost which is the fair value of the eturn. After initial recognition these are carried at cost less bad debts due to
Page | 140
uly, 2014 to 30thJune,
each year to assess its s such assessment each foreseeable future and
ue to adopt the going
erwise as stated) to all
vables, cash and cash n cost.
nt are measured at cost y) in compliance with purchase price, import ) and any costs directly for it to be capable of
ognized in the carrying ied within the part will day-to-day servicing of prehensive Income as
except land and land "Straight Line Method" d Assets charged when % p.a. based on useful equipment considering
2015 30-06-2014-
% 5%% 6.5%% 20%% 10%% 10%
Stores & Spares. They ance with the BAS-2.
ving item. The cost of
ories at each reporting xceeds the recoverable 6.
the fair value of the st less bad debts due to
uncollectability of any amount so
03.6 Cash and Cash Equivalents:According to BAS- 7 "Statement of Cash Flows" cash comprises cash in hand and demand deposits and cash equivalents are short term, highly liquid investments that are readily convertible to know amounts of cash and which are subject to an "Presentation of Financial Statements" provides that Cash and Cash equivalents are not restricted in use. Considering the provisions of BASconsidered as cash and cash equivalents.
03.7 Provisions:A provision is recognizedconstructive obligation as a result of past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made of obligation.
03.8 Taxation:Provision for income tax has been made on the basis of Finance Act, 2014.
03.9 Deferred Taxation:The company accounts for deferred tax as per BASusing the Financial Position method for all temporary differences arising between the tax base of assets and liabilities and their carrying value for financial reporting purposes. Tax rate prevailing at the Financial Position date is used to determine deferred tax.
03.10 Employees' Benefit Plan:The company has maintained employees benefit under the existing employees benefit policy of the company as well as BAS-
Workers Profit Participation Fund and Welfare FundThe company makes a regular allocation of 5% on net income before tax to this funds and payment is made to the workers as per provisions of Labour Laws 2006.
03.11 Contingencies:Contingencies arising from claim, lawsuit, etc. are recorded when it is probable that a liability has been incurred and the amount can reasonably be measured. The deferred tax asset/ income or liability/expenses do not authority. So, Deferred Tax has not been considered in computation of Current Tax Provision.
03.12 Revenue Recognition:03.12.1 Revenue from Goods Sold:
Revenue from the sales of goods is measured at the fair value of the consideration received or receivable. The company recognized revenue when risk and rewards associated with ownership has been transferred to buyer, which satisfied provided in BAS- 18.
03.13 Earnings per Share:The company presents basic earnings per share (EPS) data for its ordinary shares.
03.13.1 Basic Earnings Per Share:Basic EPS is calculated by dividing the net income/loss for the year attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the year as per BAS- 33 which is shown on the face of the
03.14 Advance, Deposits and PrepaymentsAdvances are initially measured at cost. After initial recognition, advances are carried at cost less deductions, adjustments or charges to other
Deposits are measured at payment value.
Prepayments are initially measured at cost. After initial recognition, prepayments are carried at cost less charges to income statement.
03.15 Borrowing Costs:Borrowing costs are recognized as expenses in the period in which they are incurred unless capitalization of such is allowed under BAS
mount so recognized.
nts:atement of Cash Flows" cash comprises cash in hand and demand deposits e short term, highly liquid investments that are readily convertible to know which are subject to an insignificant risk of changes in value. BASal Statements" provides that Cash and Cash equivalents are not restricted in ovisions of BAS- 7 and BAS- I, Cash in hand and bank balances have been cash equivalents.
ed in the Statement of Financial Position when the company has a legal or as a result of past event, it is probable that an outflow of economic benefits e the obligation and a reliable estimate can be made of
x has been made on the basis of Finance Act, 2014.
for deferred tax as per BAS- 12 "Income Taxes". Deferred tax is provided tion method for all temporary differences arising between the tax base of
d their carrying value for financial reporting purposes. Tax rate prevailing date is used to determine deferred tax.
ained employees benefit under the existing employees benefit policy of the - 19.
tion Fund and Welfare Fundegular allocation of 5% on net income before tax to this funds and payment s per provisions of Labour Laws 2006.
om claim, lawsuit, etc. are recorded when it is probable that a liability has amount can reasonably be measured. The deferred tax asset/ nses do not create legal liability/ recoverability to and from the income tax
Tax has not been considered in computation of Current Tax Provision.
d:of goods is measured at the fair value of the consideration received or
y recognized revenue when risk and rewards associated with ownership buyer, which satisfied all the condition for the revenue recognition as
asic earnings per share (EPS) data for its ordinary shares.
e:by dividing the net income/loss for the year attributable to ordinary
ghted average number of ordinary shares outstanding during the year as own on the face of the Statement of Comprehensive Income.repayments
measured at cost. After initial recognition, advances are carried at cost less or charges to other account heads.
t payment value.
y measured at cost. After initial recognition, prepayments are carried at cost tatement.
cognized as expenses in the period in which they are incurred unless allowed under BAS- 23.
Page | 141
d and demand deposits ily convertible to know nges in value. BAS- Ints are not restricted in nk balances have been
ompany has a legal or w of economic benefits e of the amount of the
eferred tax is provided etween the tax base of es. Tax rate prevailing
es benefit policy of the
his funds and payment
able that a liability has ed tax asset/ liability/ nd from the income tax nt Tax Provision.
nsideration received or ciated with ownership evenue recognition as
ares.
tributable to ordinary ing during the year as ncome.
are carried at cost less
ments are carried at cost
y are incurred unless
03.16 Statements of Cash Flows:Statement of Cash Flows is prepared in accordance with BAScash flow from the operating activities have been presented under direct method as prescribed by the Securities and Exchange Rules, 1987.
Cash payment for financial expenses has been which was previously considered as operating arranged accordingly in the Statement of Cash Flows.
03.17 Risk and Uncertainties for use of Estimates in Preparation of Financial Statements:Preparation of Financial Statements in conformity with the Bangladesh Accounting Standards requires management to make estimates and assumption that effect the reported and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the period reported. Actual results could differ from those estimates. Estimates are used for em
03.18 Components of the Financial Statements:According to the International Accounting Standard (BASthe Complete set of Financial Statements includes the following components:i) Statement of Financial Position as at 30ii) Statement of Profit or liii) Statement of Changes in Equity for the year ended 30iv) Statement of Cash Flows for the year ended 30v) Notes to the Financial Statements for the year ended 30
03.19 Comparative Information:Comparative information has been disclosed for all numerical information in the financial statements and also the narrative and descriptive information where it is relevant for understanding of the current year's financial statements.
Figures for the year 2013better comparability with the year.
03.20 Events after the Reporting Period:In compliance with the requirements of BASFinancial Position events that provide additional information about the company’s position at the reporting date are reflected in the financial statements and events after the reporting date that are not adjusting events are disclosed in the notes when material.
:is prepared in accordance with BAS- 7 "Statement of Cash Flows" and the ating activities have been presented under direct method as prescribed by nge Rules, 1987.
cial expenses has been considered as a cash flow from onsidered as operating activities and comparative amount has been rethe Statement of Cash Flows.
r use of Estimates in Preparation of Financial Statements:l Statements in conformity with the Bangladesh Accounting Standards make estimates and assumption that effect the reported osures of contingent assets and liabilities at the date of the financial and expenses during the period reported. Actual results could differ from
s are used for employees benefit plans, taxes, reserves and contingencies.
cial Statements:tional Accounting Standard (BAS-1) "Presentation of Financial Statements" cial Statements includes the following components:Position as at 30thJune, 2015.loss and other Comprehensive Income for the year ended 30in Equity for the year ended 30thJune, 2015.
ws for the year ended 30thJune, 2015.Statements for the year ended 30thJune, 2015.
n:n has been disclosed for all numerical information in the financial arrative and descriptive information where it is relevant for understanding
ncial statements.
3- 2014 have been re-arranged, wherever considered necessary, to ensure h the year.
g Period:equirements of BAS-10, Events After the Reporting Period, post Statement of
that provide additional information about the company’s position at the ted in the financial statements and events after the reporting date that are disclosed in the notes when material.
Page | 142
of Cash Flows" and the ethod as prescribed by
om financing activities amount has been re-
ents:Accounting Standards
orted amounts of assets date of the financial
sults could differ from and contingencies.
f Financial Statements"
nded 30thJune, 2015.
ation in the financial vant for understanding
ed necessary, to ensure
eriod, post Statement of mpany’s position at the reporting date that are
04. Property, Plant & Equipment: Tk. 308,752,054.00
ParticularsBalance A
as at
01-07-2014 t
Land & Land Development 44,959,834 6Factory Building 103,230,950 35Plant & Machinery 180,002,875 15Office Equipment 4,222,173Furniture & Fixture 6,629,053Vehicles 536,150Total Taka 339,581,035 58
Notes:(a) Depreciation on a(b) Depreciation have
ManAdm
CostRateof
Dep.%
DepreciationAddition Balance Balance Charged Baduring as at as at during a
the year 30-06-2015 01-07-2014 the year 30-0
6,610,150 51,569,984 - -5,534,340 138,765,290 5% 14,893,127 6,288,282 21,15,125,150 195,128,025 6.5% 49,475,340 12,347,388 61,8
624,417 4,846,590 20% 2,310,733 927,442 3,2712,450 7,341,503 10% 2,181,829 710,000 2,8
80,450 616,600 10% 323,022 58,774 38,686,957 398,267,992 69,184,051 20,331,887 89,5
addition to fixed assets charged when the Assets get installed.e been charged as follows:
Allocation of Depreciation: Amount in Taka30-06-2015
nufacturing Overhead (95%) 19,315,292ministrative Expenses (5%) 1,016,594
Total Tk. 20,331,887
Page | 143
Written Writtenlance Down Value Down Value
as at as at as at
6-2015 30-06-2015 30-06-2014
- 51,569,984 44,959,834181,409 117,583,881 88,337,823822,728 133,305,297 130,527,535238,175 1,608,415 1,911,440891,829 4,449,674 4,447,224381,796 234,804 213,128515,938 308,752,054 270,396,984
247
5. Capital Work in Progress: Tk. 89,529,230.00Plant & MachineryFactory BuildingTotal
06. Inventories: Tk. 124,650,443.00The break-up of the above is as under:Raw MaterialsWork-In-ProgressFinished GoodsStores & SparesTotal
06.1 Raw Materials : Tk. 79,817,595.00
Particular Opening Balancekg.
PP/PPL/HDPE/LDPE 215,163CaCo3 195,962Polycom 86,969Recycling PP 57,500CMB 3,698Ink 4,296Thiner 4,650Sewing Materials 2,894
Total 571,132
06.2 Stores & Spares: Tk. 9,838,101.00Opening Balance
Taka4,945,120
07. Trade Receivable: Tk. 106,318,616.00M/S. Break-up of the above is as under:M/S. Al-Amin Banijjya Bhandar, JessoreM/S. Ali Apon Auto Flower Mills, JessoreM/S. Abdul Jolil/Dolil Uddin Basta Bhandar, Jaodanga, JessoreM/S. City Food, KhulnaM/S. Adarasha Rice Mills, Katia, SatkhiraM/S. Azad Store, Rampura, DhakaM/S. Abdul Kader KustiaM/S. Abul Kashem, Barobazar, SatkhiraM/S. Aftab Feeds, Rupshi, (HO, Motijheel,Dhaka)M/S. Anika Feed Ltd. KhulnaM/S. Aristo Food, JessoreM/S. Arronno Feeds Ltd., JessoreM/S. Asif International, DhakaM/S. BRAC, Dhaka (For Feed Mills)M/S. Shahana AutoM/S. Sema Store (Chitto), Jaodanga, SatkhiraM/S. Ennoble Trading, DhakaM/S. Green Bangla Corporation, DhakaM/S. Hossain Traders, NowaparaM/S. J. A Trading, ChittagongM/S. Joint Trading Corporation Ltd., NowaparaM/S. Joloj Trading, kaligongM/S. Krishi Bitan, NowaparaM/S. Marine Agro, KhulnaM/S. Mokbul Traders, KhulnaM/S. Mostofa Traders, KhulnaM/S. Masud Brothers, KhulnaM/S. MNR Trade International, DhakaM/S. Nowapara Traders, NowaparaM/S. K B C, DhakaM/S. R.S Poultry, Dhaka
Notes Amount in Takak. 89,529,230.00 30-06-2015
54,426,69435,102,536
Taka 89,529,230
3.00as under:
06.1 79,817,59520,533,80714,460,940
06.2 9,838,101Taka 124,650,443
17,595.00alance Purchases Consumption
Taka kg. Taka kg.33,780,630 1,247,933 182,084,715 1,062,09210,777,914 515,020 23,297,816 442,94611,305,928 61,796 8,404,235 62,980
6,037,500 80,648 8,489,344 69,8921,331,225 23,770 8,489,348 20,6131,718,500 14,148 5,659,563 12,187
943,950 32,307 6,593,456 23,126665,613 75,076 14,959,688 76,855
66,561,260 2,065,164 257,978,165 2,388,032 2
8,101.00Purchases Consumption
Taka Taka45,120 18,802,297 13,909,316
16.00s under:, Jessore 2,102,301s, Jessore 3,340,138sta Bhandar, Jaodanga, Jessore 3,569,226
2,899,091Satkhira 2,570,729
ka 2,670,958
Satkhira 2,579,292Motijheel,Dhaka) 3,769,389
1,613,850e 1,151,751
1,369,012lls) 666,406
2,079,579nga, Satkhira 3,145,909
1,664,900, Dhaka 1,895,492a 2,756,885
2,763,552Ltd., Nowapara 3,227,835
1,533,6901,002,5942,415,1773,511,7382,403,5292,103,779
Dhaka 1,473,055para 2,052,100
1,453,6703,105,947
Page | 144
ount in Taka30-06-2014
4 -6 -0 -
5 66,561,2607 13,260,1300 15,114,7501 4,945,1203 99,881,260
ption Closing BalanceTaka Taka
171,305,281 44,560,064.0024,472,183 9,603,547.00
8,565,264 11,144,899.007,941,655 6,585,189.007,441,648 2,378,925.004,894,436 2,483,627.004,700,462 2,836,944.00
15,400,901 224,400.00244,721,830 79,817,595
Closing BalanceTaka
9,838,101
301 -138 -226 2,086,684091 172,551729 778,499958 2,348,328
- 102,000292 1,286,884389 3,622,274
- 174,944850 248,130751 142,900012 1,172,740406 666,406579 1,322,500909 2,418,089900 1,379,643492 -885 1,703,656552 3,524,516835 2,450,477690 -594 98,710177 839,612738 4,360,747529 2,952,660779 1,943,742055 887,500100 1,005,881670 -947 2,318,987
M/S. Rashid Agro Food, KustiaM/S. Ritu Hatchery, SatkhiraM/S. Rubel Brothers, ChittagongM/S. Rustom Traders, SatkhiraM/S. Rakib Auto Rice, PatkarghataM/S. S Y Traders, DhakaM/S. Satkhira Feed Industries Ltd. SatkhiraM/S. Super Standard Products Ltd. DhakaM/S. Sarker TradersM/S. Khaitan TradersM/S. Planet Feed, DhakaM/S. Jalil & Brothers. Per NagoanM/S. S.B. Poultry feed, Malipota, KhulnaM/S. Total Feeds Ltd. Sonadanga, KhulnaM/S. Tradex International, DhakaM/S. Biswas Autor rice, Kathia, ShatkhiraM/S. Uttara Food & Feeds (BD) Ltd., (Vankis), Monirampur, Jessore.M/S. Mukunda Flower Mills, Station Road, Khulna.M/S. White Gold Feed Ltd. KDA Road, KhulnaM/S. Faruk Traders, DinajpurM/S. Pappu TradersM/S. Zerin Composite, Dhaka
Total
7.1 Include information as per Schedule XI of the Companies Act 1994 regarding trading trade Receivables Auditor Disclosures:
S/L
1 Receivable Considered good in respect of whichsecured.
2 Receivables considered good in respect of which the Company holds no security other than the debtor personal security.
3 Receivable considered doubtful or bad.4 Receivables due by common management.
5 The maximum amount of rofficer of the company
08. Other Receivable: Tk. 1,452,089.00Interest on Fixed Deposit (FDR) from Bank
Total
09. Advances, Deposits & Prepayments: Tk. 56,207,148.00The above consists of the following:Loans & Advances:Advance VAT against Treasure & PurchasesAdvance against ConstructionAdvance against Land purchaseOffice rent (Corporate office)Khulna Office rentAdvance against L/C Margin, C & F Agent and PurchasesA I TAdvance to EmployeesSecurity Deposits:Bangladesh Power Development Board (BPDB)BTCL
Prepayments:Fire Insurance
Total
1,404,6541,838,496
g 3,724,858497,707
ata 1,992,6981,367,136
d. Satkhira 1,076,585Ltd. Dhaka 2,060,362
2,011,2441,967,7111,067,247
n 1,918,892, Khulna 1,129,503
a, Khulna 1,763,089ka 3,291,234Shatkhira 1,181,630Ltd., (Vankis), Monirampur, Jessore. 3,284,233ation Road, Khulna. 1,002,375A Road, Khulna 994,785
1,817,4381,387,6322,647,533
Taka 106,318,616
edule XI of the Companies Act 1994 regarding trading trade Receivables Auditor
Particular Amount in Taka30.06.2015
d in respect of which the Company is fully 106,318,616
d in respect of which the Company holds ebtor personal security. -
tful or bad. -n management. -receivable due by any director or other -
089.00R) from Bank 1,452,089
Taka 1,452,089
yments: Tk. 56,207,148.00lowing:
55,836,348re & Purchases 8,339,081nase 1,605,000) 600,000
675,000n, C & F Agent and Purchases 42,773,691
1,800,98942,587
246,600ment Board (BPDB) 194,700
51,900
124,200124,200
Taka 56,207,148
Page | 145
654 88,196496 314,556858 5,375,897707 261,630698 1,865,760136 1,613,198585 3,836,463362 1,288,470244 2,191,563711 1,561,909247 670,456892 1,313,855503 508,654089 2,360,375234 3,409,400630 -233 4,022,021375 845,280785 747,243438 2,185,200632 1,625,000533 2,815,120616 78,909,306
rade Receivables Auditor
mount in Taka5 30.06.2014
6 78,909,306
-
--
-
9 -9 -
8 43,710,4091 2,623,725- 2,540,0000 1,605,0000 600,0000 675,0001 34,916,6849 -7 750,0000 246,6000 194,7000 51,900
-0 106,1650 106,165
-8 44,063,174
10. Cash & Cash Equivalent: Tk. 53,578,727.00Break-up of the above is as under:Cash in hand:Head Office, DhakaKhulna, OfficeFactory Office, SatkhiraCash at Bank:IBBL, Mouchak Branch Dhaka (A/C # 260914)IBBL, Satkhira Branch (A/C # 94816)IBBL, Satkhira Branch (SND A/C # 02813)IBBL, Noapara Branch (A/C # 58514)IBBL, Khulna Branch (A/C # 311101)Al Arafa IBL Dhaka Branch (A/C # 12280)IBBL, Dhaka Branch (SND A/C # 7214)Pubali Bank Ltd. Dhaka Branch (A/C # 36433)Uttara Bank Ltd.Dhaka Branch (A/C # 4907)Janata Bank Ltd. Dhaka Branch (A/C # 9744)Bank Asia Ltd. Dhaka Branch (A/C # 194)Fixed Deposits (FDR)
Total
10.1 Fixed Deposits (FDR): Tk. 38,000,000.00Name of the BankIBBL (MTDR # 725661/3130)Bank Asia Limited (MTDR A/CBank Asia Limited (MTDR A/CBank Asia Limited (MTDR A/C Bank Asia Limited (MTDR A/CBank Asia Limited (MTDR A/CBank Asia Limited (MTDR A/CBank Asia Limited (MTDR A/C
Total
Shareholders' Equity & Liabilities:11. Share Capital:11.1 Authorized Share Capital: 1,000,000,000.00
(100,000,000 Ordinary Shares @ Tk. 10/= each)
11.2 Issued, Subscribed & Paid-u(39,000,000 Ordinary Shares @ Tk. 10/= each)Total
12. Retained Earnings: Tk. 147,403,482.00Opening balanceAdd: Current year Net Profit/ (Loss)Less: Dividend paidClosing balance
13. Deferred Tax Liabilities/ (Assets): Tk. 21,073,267.00Deferred tax assets and liabilities have been provisions of BAS 12: Income Taxes.ParticularsWritten down value of Non-Written down value of Non-Taxable temporary differenceEffective Tax RateCurrent year Deferred Tax LiabilitiesThe above calculation has been made as per BAS 12 (25)
Amount in Taka30-06-2015
k. 53,578,727.00under:
899,542471,593
74,522353,427
52,679,185aka (A/C # 260914) 1,909,833
C # 94816) 12,062D A/C # 02813) 15,879C # 58514) 5,864
# 311101) 1,421h (A/C # 12280) 9,509,915A/C # 7214) 28,474anch (A/C # 36433) 4,222nch (A/C # 4907) 1,708,190
anch (A/C # 9744) 58,517ch (A/C # 194) 1,424,808
10.1 38,000,000Taka 53,578,727
38,000,000.00
130) 5,000,000A/C-8744) 5,000,000A/C-8743) 5,000,000A/C -9911) 3,000,000A/C-9871) 4,000,000A/C- 9880) 5,000,000A/C-9881) 5,000,000A/C-9926) 6,000,000
Taka 38,000,000
bilities:
1,000,000,000.00ares @ Tk. 10/= each) 1,000,000,000
Amount in Taka30-06-2015
p Capital: Tk. 390,000,000.00res @ Tk. 10/= each) 390,000,000
Taka 390,000,000
,403,482.0097,759,461
t/ (Loss) 55,074,021(5,430,000)
Taka 147,403,482
sets): Tk. 21,073,267.00abilities have been recognized and measured in accordance with the e Taxes.
Current Assets as per account 308,752,054Current Assets as per tax base 248,542,721e 60,209,333
35%iabilities 21,073,267en made as per BAS 12 (25)
Page | 146
mount in Taka30-06-2014
2 3,868,9413 1,505,5872 818,1397 1,545,2155 7,984,4853 2,093,0342 7,1819 33,3974 6,1521 2,5285 6,1254 36,4572 26,7820 4,5997 309,4158 458,8150 5,000,0007 11,853,426
0 5,000,0000 -0 -0 -0 -0 -0 -0 -0 5,000,000
1,000,000,000
mount in Taka5 30-06-2014
0 240,000,0000 240,000,000
65,575,28436,953,428(4,769,250)97,759,461
accordance with the
4 270,396,9841 238,752,7363 31,644,248% 35%7 11,075,487
14. Long Term Loan: Tk. 12,836,055.00Outstanding position of long term is shown below:HPSM long term loan (A/C # 205014343000012004)Less : Current portion of long term loanTotal
a) Purpose of Investment: For the project implementation.b) Period of Investment: 5 (Five) years 6 (Six) months c) Rate of Return: 13.70% per annum or the rate to be Determined by the bank time to time.
15. Short Term Loan: Tk. 58,193,990.00Outstanding position of short term loan from Islami BankBangladesh Limited is shown below:Bai Murabaha Short term loan (A/C # 1430400002216)Murabaha Post Import Short term loan (A/C # 1430400002216)Murabaha Trust Receipt Short term loan (A/C # 1430400002216)Total
a) Purpose of Investment: To purchase/ Import of raw materials for the project.b) Period of Investment - 01 (One) year on renewal basis.c) Rate of Return: 13.70% per annum or the rate to be determined
16. Trade Creditors : Tk. 4,597,665.00This consists of the following:M/S. Gias EnterpriseM/S. S.Y EnterpriseM/S Golden PlasticM/S. Tanvir Plastic CenterM/S. R.R EnterpriseM/S. Hossain Traders, DhakaM/S Decent Trade Ent.M/S. Khandakar EnterpriseM/S. Chowdhury & Commercial AgencyM/S. Century PlasticM/S Danish Industries (PVT) Ltd.M/S. S. R Impex Co.M/S. Shahida EnterpriseM/S. Rasco ComputersM/S. H. H TradersM/S. Tems CorporationM/S. Shaque EnterpriseM/S Royl Ind. Ltd.M/S. Munshi & BrothersM/S. Nishat TradersM/S. Nahar Packaging IndustriesM/S. Q.B Enterprise
Total
,055.00term loan from Islami Bank Bangladesh Limited
# 205014343000012004) 18,130,023g term loan 5,293,968
Taka 12,836,055
roject implementation.ars 6 (Six) months
um or the rate to be me.
Amount in Taka30-06-2015
,990.00t term loan from Islami Bankbelow:n (A/C # 1430400002216) 5,856,290term loan (A/C # 1430400002216) 1,037,700
rt term loan (A/C # 1430400002216) 51,300,000Taka 58,193,990
hase/ Import of raw materials for the project.year on renewal basis.
um or the rate to be determined by the bank time to time.
665.00g:
173,500652,950
70022,700
1,631,340ka 126,830
498,516450
ercial Agency 65,016-
T) Ltd. 349,350-
99,960250,504
-32,550
132,600237,225
--
ustries 268,25455,220
Taka 4,597,665
Page | 147
023 1,375,000968 563,750055 811,250
mount in Taka15 30-06-2014
90 14,032,12500 3,011,02400 54,610,04790 71,653,196
ime.
0 -0 -0 -0 -0 -0 27,8356 -0 74,9506 334,400- 386,8520 127,895- 5,8000 172,3154 100,858- 311,5000 271,4260 209,0505 -- 50,000- 13,5254 -0 -5 2,086,406
17. Liabilities for Expenses: Tk. 64,336,964.00The above consists of the following:Salaries & WagesElectricity chargesProvision for bad debtsAudit feesTDS for DividendTelephone billProvision for Income TaxTotal
17.1 Provision for Bad Debts: Tk. NilOpening balanceLess: Bad debts written offClosing balance
17.2 Provision for Income Tax: Tk. 62,239,733.00Opening BalanceLess: Adjusted during the yearAdd: Provision for July, 2014 to June, 2015Closing balance
18. Liability for WPPF: Tk. 4,236,463.00Opening balanceAdd: Provision made for the period
Less: Payment made for the periodClosing balance
19. Sales: Tk. 419,920,083.00SalesTotal
Details of SalesS/L Sector Wise Products1 PP Woven Feed Bag (50Kg)2 PP Woven Feed Bag (253 PP Woven Textile Jumbo Bag4 PP Woven Fertilizer Bag (50kg)5 PP Woven Fertilizer Bag (206 PP Woven Food Grain Bag (BOPP Pasted)7 PP Woven Food Grain Bag (Laminated)8 PP Woven Food Grain Bag (Un9 PP Woven Other Bag
10 HDPE inner liner BagTotal
Details of Turnover/Sales mentioning item wise quantity and value as requird under of ScheduleXI, partPara 3(a) of the Companies Act, 1994
Amount in Taka30-06-2015
64,336,964.00lowing:
1,309,52612,789
17.1 -230,000543,000
1,91617.2 62,239,733Taka 64,336,964
Tk. Nil353,739
ff 353,739Taka -
Tk. 62,239,733.0043,304,975
ear (722,705)14 to June, 2015 19,657,463
Taka 62,239,733
,463.003,004,259
period 4,236,4637,240,722
eriod 3,004,259Taka 4,236,463
Amount in Taka30-06-2015
419,920,083Taka 419,920,083
r Wise Products Quantity (pcs)0Kg) 1,518,8605-30Kg) 2,898,803bo Bag 3,045,470g (50kg) 584,658g (20-30,kg) 9,658,162Bag (BOPP Pasted) 1,078,775Bag (Laminated) 1,763,664Bag (Un-Laminated) 3,199,391
10,001,0978,158,447
al 41,907,327
ning item wise quantity and value as requird under of ScheduleXI, part94
Page | 148
ount in Taka30-06-2014
1,537,293219,881353,739218,000
--
43,304,97545,633,888
9 353,7399 -- 353,739
5 23,889,294) (1,614,136)3 21,029,8173 43,304,975
9 2,062,8463 3,004,2592 5,067,1059 2,062,8463 3,004,259
unt in Taka30-06-2014
3 316,742,0103 316,742,010
) Sales Value60 35,693,20603 44,931,44970 85,273,17158 15,201,10762 38,632,64875 21,575,49464 26,454,96591 33,593,60797 90,009,87047 28,554,56627 419,920,083
of ScheduleXI, part-II,
20. Cost of Goods Sold: Tk. 306,932,915.00Opening Stock of Work-In-PAdd: Materials ConsumedAdd: Stores & Spares ConsumedAdd: Manufacturing OverheadLess: Closing Working-In-Process (WIP)Cost of Goods ManufacturedAdd: Opening Stock of Finished GoodsCost of Goods available for SalesLess: Closing Stock of Finished GoodsCost of Goods Sold
20.1 Raw Materials Consumed: Tk. 244,721,830.00This is made up as follows:Opening Stock of Raw MaterialsAdd: Purchase for the yearLess: Closing Stock of Raw MaterialsRaw Materials Consumed during the period
20.2 Stores & Spares Consumed: Tk. 13,909,316.00Opening balanceAdd: Purchased during the yearLess: Closing balanceConsumed during the period
20.3 Manufacturing Overhead: Tk. 54,921,635.00The above consists of the following:WagesOvertimeCarriage inwardIndirect wagesBonus & IncentiveWorkers uniformOil & Diesel expensesEntertainmentElectricity chargesMedical expensesFire insurance expensesRepairs & MaintenanceMaintenance MaterialsConsumable MaterialsDepreciation
Total
21. Administrative Expenses: Tk. 11,026,775.00The above consists of the following:Directors RemunerationSalaries & AllowancesBonusBoard meeting feesOffice rentSubscriptionLegal & Professional chargesTelephone, Fax, Mobile & others ChargesPostages & Courier chargesElectricity & Water chargesEntertainmentPrinting, Photocopies & StationeryTraveling & ConveyanceAudit feesVehicle Maintenance
932,915.00Process (WIP) 13,260,130
20.1 244,721,830med 20.2 13,909,316
ad 20.3 54,921,635ocess (WIP) 06. (20,533,807)
306,279,105hed Goods 15,114,750ales 321,393,855ed Goods 06. (14,460,940)
Taka 306,932,915
Tk. 244,721,830.00
erials 66,561,260257,978,165
Materials 06. (79,817,595)uring the period Taka 244,721,830
A30-06-2
Tk. 13,909,316.004,945,120
year 18,802,29706. (9,838,101)
od Taka 13,909,316Tk. 54,921,635.00
ollowing:11,717,990
2,623,0501,713,1841,083,851
389,25016,360
8,222,400483,370
5,737,67786,809
106,165807,038924,927
1,694,27204. 19,315,292
Taka 54,921,635
. 11,026,775.00lowing:
21.1 1,158,0003,591,9361,019,884
21.1 37,500520,470192,000
30,590hers Charges 275,892
19,488196,526555,731
onery 227,941589,477230,000508,798
Page | 149
30 10,492,000830 183,082,933316 9,315,230635 44,883,15707) (13,260,130)05 234,513,190
750 13,694,694855 248,207,88440) (15,114,750)915 233,093,134
260 32,129,053165 217,515,140
595) (66,561,260)830 183,082,933
Amount in Taka2015 30-06-2014
,120 5,415,200,297 8,845,150101) (4,945,120),316 9,315,230
990 8,645,160050 2,416,250184 1,056,120851 728,408250 330,312360 15,000400 8,156,450370 425,861677 4,503,274809 56,791165 59,435038 556,822927 929,806272 1,324,667292 15,678,801635 44,883,157
8,000 1,158,0001,936 3,140,5349,884 850,9907,500 31,5000,470 649,1312,000 150,0000,590 151,6755,892 228,4549,488 9,5896,526 215,9745,731 326,2397,941 175,3839,477 392,7560,000 218,0008,798 242,225
Guest house expensesNews PaperCleaning & Washing chargesMedical expensesComputer Consumable MaterialsFees, Forms & RenewalsMiscellaneous expensesDepreciation
Total
21.1 Payment/ Perquisites to Directors: Tk. 1,195,500.00An aggregate amount of Tk.
ParticularsDirectors RemunerationBoard meeting expenses
Total
i) The Board of Directors have drawn Tk. 750/= per board meeting as attendance fees during the under review. ii) 10 No. of meetings of the Board of Directors were held during the period.
22. Selling & Distribution Expenses: Tk. 3,402,408.00The above consists of the following:Advertisement expensesSelling & Distribution expensesCarriage outwardsWeb Design expenses
Total
23. Financial expenses: Tk. 11,044,348.00The above consists of the following:Bank chargesInterest on LoanExcise Duty
Total
24. Other Income: Tk. 1,452,089.00Interest on Fixed Deposit (FDR) from Bank
Total
25. Provision for Workers' Profit Participation Fund: Tk. 4,236,463.00Provision for Contribution to WPPF
TotalThis represents 5% of net profit before tax after charging the contribution as per provision of the Bangladesh Labour Laws, 2006.
26. Current Tax : Tk. 19,657,463.00Income tax provided on Net profit
Total
244,02410
s 2461,794
erials 78,33081,875
355,44804. 1,016,594
Taka 11,026,775
ectors: Tk. 1,195,500.00f Tk. 1,195,500.00paid/ spent for Directors of the company against the
following: Amount1,158,000
3Taka 1,195,500
rawn Tk. 750/= per board meeting as attendance fees during the
of Directors were held during the period.
nses: Tk. 3,402,408.00lowing:
15,000ses 620,050
2,746,85820,500
Taka 3,402,408
044,348.00llowing:
280,48310,738,165
25,700Taka 11,044,348
89.00DR) from Bank 1,452,089
Taka 1,452,089
Amount in Taka30-06-2015
ofit Participation Fund: Tk. 4,236,463.00to WPPF 4,236,463
Taka 4,236,463profit before tax after charging the contribution as per provision of the
2006.
463.00et profit 19,657,463
Taka 19,657,463
Page | 150
4,024 169,1580,402 12,3324,075 19,0141,794 33,6608,330 62,7751,875 38,2105,448 201,0386,594 825,2006,775 9,301,837
ompany against the
ount Amount58,000 1,158,00037,500 31,50095,500 1,189,500
fees during the period
5,000 10,0000,050 699,0206,858 2,500,5880,500 8,6502,408 3,218,258
483 253,080165 8,330,215700 17,336348 8,600,631
2,089 561,3022,089 561,302
mount in Taka15 30-06-2014
,463 3,004,259,463 3,004,259
as per provision of the
7,463 21,029,8177,463 21,029,817
27. Deferred Tax Expenses/ (Income): Tk. 9,997,780.00ParticularsClosing deferred tax liabilitiesOpening deferred tax liabilitiesDeferred tax expenses/ (Income)
28. Earnings Per Share (EPS):a) Net Profit/(Loss) After Taxb) Weighted Average Number of SharesEarnings Per Share (EPS) ( a÷b )
Adjusted Earnings Per Share
28.1 Calculation of Weighted Average Number of Shares:
Allotment of Shares up to 30
24,000,000
Allotment of Shares made on 30
15,000,000
Total Weighted Average Number of Shares
29. Net Asset Value Per Share (NAV):a) Shareholder’s Equity at the end of the yearb) Number of Ordinary SharesNet Assets Value Per Share (NAV)Net Asset Value Per Share (NAV) has been disclosed as per the Securities and Exchange Commission’s Notification No.SEC/CMRRCD/2009
30. Number of total employees:
Part/Full Time
Part time employeesFull time employeeGrand TotalWorkers (Full time employee) are paid minimum wages Tk. 5,300.00 per month
31. Production Capacity and its Current Utilization (Per Annum)S/L Installed Capacity1. 5.90 Core Pices of Different Types Of Bags
32. Details of Related Party Transactions:
S/L Name of the Related Party Nature of Relationship
1 Satkhira Feed Industries Ltd. Common Director
2 R.R Enterprise
33. Events after reporting period:
The are no significant event that have occurred between
ncome): Tk. 9,997,780.00
ities 21,073,267bilities 11,075,487ncome) Taka 9,997,780
Tax 55,074,021mber of Shares 28.1 27,821,918( a÷b ) 1.98
re 1.98
erage Number of Shares:
o 30-06-2014 Days of Utilization of SharesDays of Whole year
X 365365
on 30-03-2015 Days of Utilization of SharesDays of Whole year
X 93365
Number of Shares
Amount in TakaAV): 30-06-2015e end of the year 569,919,935es 39,000,000
NAV) 14.61NAV) has been disclosed as per the Securities and Exchange Commission’s D/2009-193/Admin/03-31, dated June 01, 2009.
Number of EmployeesHead Office F
-27
Total 27ee) are paid minimum wages Tk. 5,300.00 per month
Current Utilization (Per Annum)ed Capacity Actual Production fferent Types Of Bags 4.19 Core Pcs
sactions:
re of Relationship Nature of Transaction
For the year ended,
30.06.2015
mmon Director Accounts Receivable 1,076,585
Proprietor Accounts Payable 1,631,340
:
hat have occurred between balance the sheet date and the
Page | 151
3,267 11,075,4875,487 8,973,5397,780 2,101,948
4,021 36,953,4281,918 22,476,058
1.64
1.33
s
24,000,000
s
3,821,917.81
27,821,918
mount in Taka15 30-06-2014,935 370,275,914,000 24,000,0004.61 15.43xchange Commission’s
EmployeesFactory Total
51 51159 186210 237
h
on Utilization71.03%
year d, 015
For the year ended,
30.06.2014
6,585 1,613,198
1,340 -
nd the reporting date.
Auditor's certificate regarding calculation of EPS and Ratios
This is to certify that Yeakin Polymerthe audited financial statements for the year ended
Particulars
I. Liquidity Ratios: (i) Current Ratio
(ii) Quick Ratio
(iii) Times Interest Earned Ratio
(iv) Debt to Equity Ratio
II. Operating Ratios:(i) Accounts Receivable Turnover Ratio
(ii) Inventory Turnover Ratio
(iii) Asset Turnover Ratio
III. Profitability Ratios: (i) Gross Margin Ratio
(ii) Operating Income Ratio
(iii) Net Income Ratio
(iv) Return on Assets Ratio
(v) Return on Equity Ratio
(vi) Basic Earnings Per Share (EPS)
(vii) EBITDA Margin
IV. Coverage Ratios:(i) Debt to total Assets Ratio
(ii) Debt Service Coverage Ratio
V. Cash Flow: (iii) Net Operating Cash Flow per Share
(iv) Net Operating Cash Flow per Share/EPS
Dated; Dhaka, the 11th February, 2016.
ertificate regarding calculation of EPS and Ratios
rule:4 (1) (d)
mer Limited has maintained the following ratios as computed on the basis of r the year ended June 30, 2015, 2014, 2013, 2012 and
30.06.2015 30.06.2014 30.06.2013 30.06.2012 Ratio
2.50 1.91 2.09
1.18 0.74 1.04
8.92 8.27 6.94
0.13 0.20 0.16
4.53 4.81 4.45
2.73 2.88 2.79
0.67 0.70 0.71
26.91% 26.41% 26.87%
23.47% 22.46% 22.30%
13.12% 11.67% 11.52%
8.84% 8.22% 8.15%
11.72% 10.97% 10.91%
1.98 1.64 1.96
27.65% 26.90% 26.52%
0.10 0.14 0.13
78.21 - -
e 1.30 0.35 2.14
e/EPS 0.66 0.21 1.09
.
Page | 152
Annexure: D
s
mputed on the basis of nd 2011.
0.06.2012 30.06.2011
1.99 1.91
0.74 0.84
3.94 4.72
0.24 0.30
3.42 4.01
2.48 3.23
0.72 0.89
22.87% 19.95%
17.16% 15.27%
7.60% 7.17%
5.47% 6.37%
7.66% 8.98%
1.20 1.77
21.20% 18.65%
0.17 0.22
304.79 24.75
(1.21) 0.54
(1.01) 0.31
Sd/-Artisan
Chartered Accountants
Particulars Formula
I. Liquidity Ratios:
(i) Current Ratio Current Assets/Current Liabil
(ii) Quick Ratio(Current Assets-Inventories-Adv
Deposit & Prepayments)/CurrLiabilities
(iii) Times Interest Earned Ratio Operating Profit/Financial Exp
(iv) Debt to Equity Ratio Total Debt/Total Equity
II. Operating Ratios:
(i) Accounts Receivable Turnover Ratio Net Sales/Average Accounts Rece
(ii) Inventory Turnover Ratio Cost of Goods Sold /Average inv
(iii) Asset Turnover Ratio Net Sales/Average Total Asse
III. Profitability Ratios:
(i) Gross Margin Ratio Gross Profit/Net Sales
(ii) Operating Income Ratio Operating Profit/Net Sales
(iii) Net Income Ratio Net Profit after Tax/Net Sale
(iv) Return on Assets Ratio Net Profit after Tax/Average Tota
(v) Return on Equity Ratio Net Profit after Tax/AverageTShareholders Equity
(vi) Basic Earnings Per Share (EPS) Net Profit after Tax/Weighted Avnumber of Shares Outstandi
(vii) EBITDA Margin EBITDA/Net Sales
IV. Coverage Ratios:
(i) Debt to total Assets Ratio Total Debt/Total Assets
(ii) Debt Service Coverage Ratio Net Operating Profit / Total Debt
V. Cash Flow:
(iii) Net Operating Cash Flow per Share Net Operating Cash Flow/ NumOrdinary Shares Outstandin
(iv) Net Operating Cash Flow per Share/EPS Net Operating Cash Flow per Sha
Ratio CalculationFor the Year ended
30.06.2015 30.06.2014 30.06.2013Calculation Ratio Calculation Ratio Calculation Ratio C
lities342,207,022
2.50234,707,166
1.91170,996,565
2.091
136,659,050 122,941,499 81,781,029 6vance,rent
161,349,4311.18
90,762,7320.74
85,439,8841.04
5
136,659,050 122,941,499 81,781,029 6
penses98,557,985
8.9271,128,781
8.2749,924,998
6.942
11,044,348 8,600,631 7,195,78376,324,013
0.1373,028,196
0.2049,867,258
0.163
569,919,935 370,275,914 303,591,736 1
eivables419,920,083
4.53316,742,010
4.81223,921,340
4.451
92,613,961 65,918,873 50,347,665 4
ventory306,932,915
2.73233,093,134
2.88163,756,748
2.791
112,265,852 80,806,104 58,717,270 4
ets419,920,083
0.67316,742,010
0.70223,921,340
0.711
622,796,228 449,725,227 316,203,459 2
112,987,16826.91%
83,648,87626.41%
60,164,59226.87%
3419,920,083 316,742,010 223,921,340 1
s98,557,985
23.47%71,128,781
22.46%49,924,998
22.30%2
419,920,083 316,742,010 223,921,340 1
es55,074,021
13.12%36,953,428
11.67%25,785,572
11.52%1
419,920,083 316,742,010 223,921,340 1
al assets55,074,021
8.84%36,953,428
8.22%25,785,572
8.15%1
622,796,228 449,725,227 316,203,459 2Total 55,074,021
11.72%36,953,428
10.97%25,785,572
10.91%1
470,097,925 336,933,825 236,307,220 1Average
ng55,074,021
1.9836,953,428
1.6425,785,572
1.961
27,821,918 22,476,058 13,179,099116,105,498
27.65%85,189,825
26.90%59,393,356
26.52%3
419,920,083 316,742,010 223,921,340 1
76,324,0130.10
73,028,1960.14
49,867,2580.13
3740,488,306 505,104,150 394,346,304 2
Service118,889,872
78.2187,632,782
-60,865,655
-3
1,520,108 - -
mber ofng
50,580,0191.30
8,437,8330.35
36,269,6002.14
(139,000,000 24,000,000 16,959,000
are/EPS1.30
0.660.35
0.212.14
1.091.98 1.64 1.96
Page | 153
30.06.20112 30.06.2011Calculation Ratio Calculation Ratio
37,227,8081.99
98,003,0861.91
69,037,911 51,402,51151,153,182
0.7442,933,911
0.8469,037,911 51,402,511
25,953,0963.94
22,667,3354.72
6,593,848 4,798,37739,891,778
0.2439,879,692
0.3069,022,703 131,038,150
51,270,1563.42
148,427,4154.01
44,192,898 36,981,51616,675,675
2.48118,812,608
3.2347,085,664 36,811,03851,270,156
0.72148,427,415
0.8910,304,840 166,910,589
34,594,48122.87%
29,614,80719.95%
51,270,156 148,427,41525,953,096
17.16%22,667,335
15.27%51,270,156 148,427,415
11,494,5537.60%
10,639,5167.17%
51,270,156 148,427,41511,494,553
5.47%10,639,516
6.37%10,304,840 166,910,589
11,494,5537.66%
10,639,5168.98%
50,030,427 118,543,39311,494,553
1.2010,639,516
1.779,610,000 6,000,000
32,072,36021.20%
27,676,16418.65%
51,270,156 148,427,415
39,891,7780.17
39,879,6920.2238,060,614 182,549,066
33,040,323304.79
28,521,89724.75
108,405 1,152,390
11,666,745)(1.21)
3,262,3930.54
9,610,000 6,000,000(1.21)
(1.01)0.54
0.311.20 1.77
Yeakin Polymer Limited IndustryAverage ***
Particulars 30.06.2015 2015Ratio Ratio
I. Liquidity Ratios:(i) Current Ratio 2.50 1.81(ii) Quick Ratio 1.18 0.57(iii) Times Interest Earned Ratio 8.92 2.96(iv) Debt to Equity Ratio 0.13 0.49II. Operating Ratios:(i) Accounts ReceivableTurnover Ratio 4.53 5.79
(ii) Inventory Turnover Ratio 2.73 3.48(iii) Asset Turnover Ratio 0.67 0.97III. Profitability Ratios:(i) Gross Margin Ratio 26.91% 14.09%(ii) Operating Income Ratio 23.47% 8.43%(iii) Net Income Ratio 13.12% 5.33%(iv) Return on Assets Ratio 8.84% 4.67%(v) Return on Equity Ratio 11.72% 6.57%(vi) Basic Earnings Per Share(EPS) 1.98 1.23
(vii) EBITDA Margin 27.65% 11.10%IV. Coverage Ratios:(i) Debt to total Assets Ratio 0.10 0.24(ii) Debt Service Coverage Ratio 78.21 Not AvailableV. Cash Flow:(iii) Net Operating Cash Flowper Share 1.01 3.03
(iv) Net Operating Cash Flowper Share/EPS 0.51 1.33
N.B: For wider range of data, we communicated withBank. But, we were informed that none of them maint
*** The Industry average ratio is calculated through using tand Miracle Industries Ltd. for the year ended June 30, 2
COMPARED WITH THE INDUSTRY AVERAGE
Remark/ Explanation
YPL's Current Ratio is better than the industry average current ratio becausYPL's Ratio is better than the industry average ratio as quick assets are relatYPL's Ratio is better than the industry average ratio as operating profit is reYPL's Ratio is better as debt burden is lower than equity.
YPL's Ratio is satisfactory as collection period is shorter than the average in
YPL's Ratio is satisfactory as inventory is sold in shorter time.YPL's Ratio is satisfactory with the average industry.
YPL's Ratio is better than the industry average ratio as lower ManufacturinYPL's Ratio is better than the industry average ratio as higher operating proYPL's Ratio is better than the industry average ratio as higher net profit.YPL's Ratio is better than the industry average ratio as higher net profit.YPL's Ratio is better than the industry average ratio as higher net profit.
YPL's Ratio is better than the industry average ratio as higher net profit.
YPL's Ratio is better than the industry average ratio as higher net operating
YPL's Ratio is better as debt burden is lower than assets.YPL's Ratio is satisfactory as net operating profit is relatively more sufficien
YPL’s Ratio is satisfactory as Net Operating Cash Flow is positive.
YPL’s Ratio is satisfactory as Net Operating Cash Flow is positive.
Bangladesh Bureau of Statistics, Bangladesh Plastic Goods Manufacturers &tains such ratioswith regard to industry concern.
the ratio of 4 listed similar companies namely Khan Brothers PP Woven Bag I2015 and Sinobangla Industries Limited for the year ended 31 October, 2015. (
Page | 154
se of relatively lower current liabilities.tively higher.elatively more sufficient to pay financial expense.
ndustry.
ng Overhead cost.ofit.
g profit.
nt to pay financial expense and long term debt.
& Exporters Association and Bangladesh
Industries Ltd., Deshbandhu Polymer Ltd.(Source: Annual Report)
Yeakin Polymer Limited IndustryAverage ***
Particulars 30.06.2014 2014Ratio Ratio
I. Liquidity Ratios:(i) Current Ratio 1.91 2.20(ii) Quick Ratio 0.74 0.64(iii) Times Interest Earned Ratio 8.27 4.06(iv) Debt to Equity Ratio 0.20 0.78II. Operating Ratios:(i) Accounts ReceivableTurnover Ratio 4.81 6.38
(ii) Inventory Turnover Ratio 2.88 3.35(iii) Asset Turnover Ratio 0.70 0.82III. Profitability Ratios:(i) Gross Margin Ratio 26.41% 15.58%(ii) Operating Income Ratio 22.46% 10.41%(iii) Net Income Ratio 11.67% 4.72%(iv) Return on Assets Ratio 8.22% 4.29%(v) Return on Equity Ratio 10.97% 7.00%(vi) Basic Earnings Per Share(EPS) 1.64 1.07
(vii) EBITDA Margin 26.90% 13.72%IV. Coverage Ratios:(i) Debt to total Assets Ratio 0.14 0.17(ii) Debt Service Coverage Ratio Not AvailableV. Cash Flow:(iii) Net Operating Cash Flowper Share 0.35 1.64
(iv) Net Operating Cash Flowper Share/EPS 0.21 1.25
N.B: For wider range of data, we communicated with BaBank. But, we were informed that none of them maintain
*** The Industry average ratio is calculated through using the raIndustries Ltd. for the year ended June 30, 2014 and Sinobangla
Remark/ Explanation
YPL's Current Ratio is satisfactory with the industry average current ratio.YPL's Ratio is better than the industry average ratio as quick assets are relatYPL's Ratio is better than the industry average ratio as operating profit is reYPL's Ratio is better as debt burden is lower than equity.
YPL's Ratio is satisfactory as collection period is shorter than the average in
YPL's Ratio is satisfactory as inventory is sold in shorter time.YPL's Ratio is satisfactory with the average industry.
YPL's Ratio is better than the industry average ratio as lower ManufacturinYPL's Ratio is better than the industry average ratio as higher operating proYPL's Ratio is better than the industry average ratio as higher net profit.YPL's Ratio is better than the industry average ratio as higher net profit.YPL's Ratio is better than the industry average ratio as higher net profit.
YPL's Ratio is better than the industry average ratio as higher net profit.
YPL's Ratio is better than the industry average ratio as higher net operating
YPL's Ratio is better as debt burden is lower than assets.-
YPL’s Ratio is satisfactory as Net Operating Cash Flow is positive.
YPL’s Ratio is satisfactory as Net Operating Cash Flow is positive.
angladesh Bureau of Statistics, Bangladesh Plastic Goods Manufacturers &ns such ratioswith regard to industry concern.
atio of 4 listed similar companies namely Khan Brothers PP Woven Bag Inda Industries Limited for the year ended 31 October, 2014. (Source: Annual Repo
Page | 155
tively higher.elatively more sufficient to pay financial expense.
ndustry.
ng Overhead cost.ofit.
g profit.
& Exporters Association and Bangladesh
dustries Ltd., Deshbandhu Polymer Ltd., Miracleort)
Yeakin Polymer Limited IndustryAverage ***
Particulars 30.06.2013 2013Ratio Ratio
I. Liquidity Ratios:(i) Current Ratio 2.09 2.13(ii) Quick Ratio 1.04 0.83(iii) Times Interest Earned Ratio 6.94 3.41(iv) Debt to Equity Ratio 0.16 0.83II. Operating Ratios:(i) Accounts ReceivableTurnover Ratio 4.45 6.33
(ii) Inventory Turnover Ratio 2.79 3.20(iii) Asset Turnover Ratio 0.71 0.78III. Profitability Ratios:(i) Gross Margin Ratio 26.87% 14.57%(ii) Operating Income Ratio 22.30% 9.01%(iii) Net Income Ratio 11.52% 3.21%(iv) Return on Assets Ratio 8.15% 3.30%(v) Return on Equity Ratio 10.91% 5.09%(vi) Basic Earnings Per Share(EPS) 1.96 0.85
(vii) EBITDA Margin 26.52% 12.05%IV. Coverage Ratios:(i) Debt to total Assets Ratio 0.13 0.35(ii) Debt Service Coverage Ratio Not AvailableV. Cash Flow:(iii) Net Operating Cash Flowper Share 2.14 (0.52)
(iv) Net Operating Cash Flowper Share/EPS 1.09 (3.26)
N.B: For wider range of data, we communicated with BaBank. But, we were informed that none of them maintain
*** The Industry average ratio is calculated through usPolymer Ltd., Miracle Industries Ltd. for the year ended Ju
Remark/ Explanation
YPL's Current Ratio is better than the industry average current ratio becausYPL's Ratio is better than the industry average ratio as quick assets are relatYPL's Ratio is better than the industry average ratio as operating profit is reYPL's Ratio is better as debt burden is lower than equity.
YPL's Ratio is satisfactory as collection period is shorter than the average in
YPL's Ratio is satisfactory as inventory is sold in shorter time.YPL's Ratio is satisfactory with the average industry.
YPL's Ratio is better than the industry average ratio as lower ManufacturinYPL's Ratio is better than the industry average ratio as higher operating proYPL's Ratio is better than the industry average ratio as higher net profit.YPL's Ratio is better than the industry average ratio as higher net profit.YPL's Ratio is better than the industry average ratio as higher net profit.
YPL's Ratio is better than the industry average ratio as higher net profit.
YPL's Ratio is better than the industry average ratio as higher net operating
YPL's Ratio is better as debt burden is lower than assets.YPL's Ratio is satisfactory as net operating profit is relatively more sufficien
YPL’s Ratio is satisfactory as Net Operating Cash Flow is positive.
YPL’s Ratio is satisfactory as Net Operating Cash Flow is positive.
angladesh Bureau of Statistics, Bangladesh Plastic Goods Manufacturers &ns such ratioswith regard to industry concern.
sing the ratio of 4 listed similar companies namely Khan Brothers PP Wune 30, 2013 and Sinobangla Industries Limited for the year ended 31 Oct
Page | 156
se of relatively lower current liabilities.tively higher.elatively more sufficient to pay financial expense.
ndustry.
ng Overhead cost.ofit.
g profit.
nt to pay financial expense and long term debt.
& Exporters Association and Bangladesh
Woven Bag Industries Ltd., Deshbandhuober, 2013. (Source: Annual Report)
Yeakin Polymer Limited IndustryAverage ***
Particulars 30.06.2012 2012Ratio Ratio
I. Liquidity Ratios:(i) Current Ratio 1.99 1.82(ii) Quick Ratio 0.74 0.74(iii) Times Interest Earned Ratio 3.94 2.59(iv) Debt to Equity Ratio 0.24 0.74II. Operating Ratios:(i) Accounts ReceivableTurnover Ratio 3.42 7.06
(ii) Inventory Turnover Ratio 2.48 3.02(iii) Asset Turnover Ratio 0.72 0.73III. Profitability Ratios:(i) Gross Margin Ratio 22.87% 15.42%(ii) Operating Income Ratio 17.16% 9.87%(iii) Net Income Ratio 7.60% 5.58%(iv) Return on Assets Ratio 5.47% 3.67%(v) Return on Equity Ratio 7.66% 6.61%(vi) Basic Earnings Per Share(EPS) 1.20 1.45
(vii) EBITDA Margin 21.20% 12.76%IV. Coverage Ratios:(i) Debt to total Assets Ratio 0.17 0.32(ii) Debt Service Coverage Ratio 304.79 Not AvailableV. Cash Flow:(iii) Net Operating Cash Flowper Share (1.21) (0.20)
(iv) Net Operating Cash Flowper Share/EPS (1.01) (8.33)
N.B: For wider range of data, we communicated with BaBank. But, we were informed that none of them maintain
*** The Industry average ratio is calculated through usPolymer Ltd., Miracle Industries Ltd. for the year ended Ju
Remark/ Explanation
YPL's Current Ratio is better than the industry average current ratio becausYPL's Ratio is similar with the industry average ratio.YPL's Ratio is better than the industry average ratio as operating profit is reYPL's Ratio is better as debt burden is lower than equity.
YPL's Ratio is satisfactory as collection period is shorter than the average in
YPL's Ratio is satisfactory as inventory is sold in shorter time.YPL's Ratio is satisfactory with the average industry.
YPL's Ratio is better than the industry average ratio as lower ManufacturinYPL's Ratio is better than the industry average ratio as higher operating proYPL's Ratio is better than the industry average ratio as higher net profit.YPL's Ratio is better than the industry average ratio as higher net profit.YPL's Ratio is better than the industry average ratio as higher net profit.
YPL's Ratio is satisfactory with the industry average ratio.
YPL's Ratio is better than the industry average ratio as higher net operating
YPL's Ratio is better as debt burden is lower than assets.YPL's Ratio is satisfactory as net operating profit is relatively more sufficien
YPL’s Ratio is negative as Net Operating Cash Flow is negative.
YPL’s Ratio is negative as Net Operating Cash Flow is negative.
angladesh Bureau of Statistics, Bangladesh Plastic Goods Manufacturers &ns such ratioswith regard to industry concern.
sing the ratio of 4 listed similar companies namely Khan Brothers PP Wune 30, 2012 and Sinobangla Industries Limited for the year ended 31 Oct
Page | 157
se of relatively lower current liabilities.
elatively more sufficient to pay financial expense.
ndustry.
ng Overhead cost.ofit.
g profit.
nt to pay financial expense and long term debt.
& Exporters Association and Bangladesh
Woven Bag Industries Ltd., Deshbandhuober, 2012. (Source: Annual Report)
Yeakin Polymer Limited IndustryAverage ***
Particulars 30.06.2011 2011Ratio Ratio
I. Liquidity Ratios:(i) Current Ratio 1.91 1.41(ii) Quick Ratio 0.84 0.67(iii) Times Interest Earned Ratio 4.72 6.86(iv) Debt to Equity Ratio 0.30 0.64II. Operating Ratios:(i) Accounts ReceivableTurnover Ratio 4.01 12.58
(ii) Inventory Turnover Ratio 3.23 2.81(iii) Asset Turnover Ratio 0.89 0.75III. Profitability Ratios:(i) Gross Margin Ratio 19.95% 15.31%(ii) Operating Income Ratio 15.27% 11.13%(iii) Net Income Ratio 7.17% 7.98%(iv) Return on Assets Ratio 6.37% 3.64%(v) Return on Equity Ratio 8.98% 6.76%(vi) Basic Earnings Per Share(EPS) 1.77 1.35
(vii) EBITDA Margin 18.65% 14.43%IV. Coverage Ratios:(i) Debt to total Assets Ratio 0.22 0.32(ii) Debt Service Coverage Ratio 24.75 Not AvailableV. Cash Flow:(iii) Net Operating Cash Flowper Share 0.54 0.63
(iv) Net Operating Cash Flowper Share/EPS 0.31 0.11
N.B: For wider range of data, we communicated with BaBank. But, we were informed that none of them maintain
*** The Industry average ratio is calculated through usPolymer Ltd., Miracle Industries Ltd. for the year ended Ju
Remark/ Explanation
YPL's Current Ratio is better than the industry average current ratio becausYPL's Ratio is better than the industry average ratio as quick assets are relatYPL's Ratio is better than the industry average ratio as operating profit is reYPL's Ratio is better as debt burden is lower than equity.
YPL's Ratio is satisfactory as collection period is shorter than the average in
YPL's Ratio is satisfactory as inventory is sold in shorter time.YPL's Ratio is satisfactory with the average industry.
YPL's Ratio is better than the industry average ratio as lower ManufacturinYPL's Ratio is better than the industry average ratio as higher operating proYPL's Ratio is satisfactory with the average industry.YPL's Ratio is better than the industry average ratio as higher net profit.YPL's Ratio is better than the industry average ratio as higher net profit.
YPL's Ratio is better than the industry average ratio as higher net profit.
YPL's Ratio is better than the industry average ratio as higher net operating
YPL's Ratio is better as debt burden is lower than assets.YPL's Ratio is satisfactory as net operating profit is relatively more sufficien
YPL’s Ratio is satisfactory as Net Operating Cash Flow is positive.
YPL’s Ratio is satisfactory as Net Operating Cash Flow is positive.
angladesh Bureau of Statistics, Bangladesh Plastic Goods Manufacturers &ns such ratioswith regard to industry concern.
sing the ratio of 4 listed similar companies namely Khan Brothers PP Wune 30, 2011 and Sinobangla Industries Limited for the year ended 31 Oct
Page | 158
se of relatively lower current liabilities.tively higher.elatively more sufficient to pay financial expense.
ndustry.
ng Overhead cost.ofit.
g profit.
nt to pay financial expense and long term debt.
& Exporters Association and Bangladesh
Woven Bag Industries Ltd., Deshbandhuober, 2011. (Source: Annual Report)
Auditors’ report Under Section
We have compiled the accompanying statements of Yeaki24 (1) Part II of the Third Schedule of Companies Act 1994. The statement comprises of the financial information for the year ended June 30, 2013, 2012 and 2011 were audited by ALAMGIR & IDRIS, Chartered Accountants. Our report is as under:
1. The Yeakin Polymer Limited was incorporated on 82. The financial position of the Company over the last 5
A) Statements of Assets and Liabilities of the company is as under:
Particulars 3NON-CURRENT ASSETS 3Property, Plant & Equipment 3Capital Work in ProgressCURRENT ASSETS 3Inventories 1Trade Receivable 1Other ReceivableAdvances, Deposits & PrepaymentsCash & Cash EquivalentRaw Material in TransitTOTAL ASSETS 7
SHAREHOLDERS EQUITY 5Share Capital 3Share Money DepositsGeneral ReserveTax Holiday ReserveRetained Earnings 1NON-CURRENT LIABILITIESLong Term Bank LoanDeferred Tax LiabilitiesCURRENT LIABILITIES 1Trade CreditorsCurrent Portion of Long Term LoanLiabilities for ExpensesShort Term Bank LoanLiability for WPPFTOTAL EQUITY & LIABILITIES 7
NET ASSETS VALUE (NAV) PER SHARENAV ADJUSTED
B) The statements of operating results of the company is as follow:
Particulars
Sales RevenueLess: Cost of Goods SoldGross ProfitLess: Operating ExpenseFinancial ExpenseProfit from OperationsOther IncomeProfit before Contribution to WPPF & before TaxLess: Provision for WPPFNet Profit before TaxProvision for TaxDeferred Tax ExpenseNet Profit after Tax
Earnings Per Share (EPS)EPS adjusted
tion-135 (1) and Para-24(1) of Part-II of ScheduleCompanies Act 1994
ying statements of Yeakin Polymer Limited under Section 135 (1) and Para dule of Companies Act 1994. The statement comprises of the financial
ne 30, 2015 and 2014 were audited by us, and for the d by ALAMGIR & IDRIS, Chartered Accountants. Our report is as under:
incorporated on 8th February, 2001.mpany over the last 5 years is as follows:
bilities of the company is as under:
Amount in Taka30-06-2015 30-06-2014 30-06-2013 30-0398,281,284 270,396,984 223,349,739 100,832,806308,752,054 270,396,984 223,349,739 100,832,806
89,529,230 - -342,207,022 234,707,166 170,996,565 137,227,808124,650,443 99,881,260 61,730,947 55,703,593106,318,616 78,909,306 52,928,439 47,766,890
1,452,089 - -56,207,148 44,063,174 23,825,734 30,371,03353,578,727 11,853,426 24,320,782 3,386,292
- - 8,190,663740,488,306 505,104,150 394,346,304 238,060,614
569,919,935 370,275,914 303,591,736 169,022,703390,000,000 240,000,000 169,590,000 96,100,000
- - 35,910,0008,357,000 8,357,000 8,357,000
24,159,453 24,159,453 24,159,453 24,159,453147,403,482 97,759,461 65,575,283 48,763,250
33,909,322 11,886,737 8,973,53912,836,055 811,250 -21,073,267 11,075,487 8,973,539
136,659,050 122,941,499 81,781,029 69,037,9114,597,665 2,086,406 3,561,368 3,987,4365,293,968 563,750 -
64,336,964 45,633,888 26,289,557 24,190,73458,193,990 71,653,196 49,867,258 39,891,778
4,236,463 3,004,259 2,062,846 9740,488,306 505,104,150 394,346,304 238,060,614
14.61 15.43 15.7814.61 9.49 6.86
results of the company is as follow:
Amount in Taka30-Jun-15 30-Jun-14 30-Jun-13 30
419,920,083 316,742,010 223,921,340 151,270,156306,932,915 233,093,134 163,756,748 116,675,675112,987,168 83,648,876 60,164,592 34,594,481
14,429,183 12,520,095 10,239,594 811,044,348 8,600,631 7,195,783 687,513,637 62,528,150 42,729,215 19,359,248
1,452,089 561,302 590,547ax 88,965,726 63,089,452 43,319,762 19,359,248
4,236,463 3,004,259 2,062,84684,729,263 60,085,193 41,256,916 18,391,28519,657,463 21,029,817 15,471,344 6
9,997,780 2,101,948 -55,074,021 36,953,428 25,785,572 11,494,553
1.98 1.64 1.961.41 0.95 0.66
Page | 159
chedule-III of the
ction 135 (1) and Para prises of the financial he year ended June 30, report is as under:
6-2012 30-06-2011832,806 84,545,980832,806 84,545,980
- -227,808 98,003,086703,593 38,467,735766,890 40,618,906
- -371,033 16,601,440386,292 2,315,005
- -060,614 182,549,066
022,703 131,038,150100,000 60,000,000
- -- -
159,453 24,159,453763,250 46,878,697
- 108,405- 108,405- -
037,911 51,402,511987,436 3,042,029
- -190,734 7,460,126891,778 39,771,287967,963 1,129,068060,614 182,549,066
17.59 21.844.33 3.36
0-Jun-12 30-Jun-111,270,156 148,427,4156,675,675 118,812,6084,594,481 29,614,8078,641,385 6,947,4726,593,848 4,798,3779,359,248 17,868,958
- 5,4289,359,248 17,874,386
967,963 851,1618,391,285 17,023,2256,896,732 6,383,709
- -1,494,553 10,639,516
1.20 1.770.29 0.27
3. Dividend declared:Particulars
Cash DividendStock Dividend (Bonus Share)
4. Yeakin Polymer Limited (former Yeakin Business Limited) was incorporated in Bangladesh on February, 2001 as a Public Limited Company. The company was converted into a Private Limited Company on 10th November, 2003 and again it was reMay, 2012. The name of the Company was changed on 15Limited to Yeakin Polymer Limited.
5. The Company started its commercial operation in July 15, 2003.
6. The company had no subsidiary company as on the balance sheet date.
7. No proceeds or part of the proceeds of the issue of shares would be applied directly by the company in the purchase of any business.
8. The Company did not prepare any financial statements for any year s
9. Figures related to previous years have been re
Dated; Dhaka, the 11thFebruary, 2016.
30.06.2015 30.06.2014 30.06.2013 30.06.2012Nil 5% 7.5% 1Nil Nil Nil N
rmer Yeakin Business Limited) was incorporated in Bangladesh on Limited Company. The company was converted into a Private Limited
2003 and again it was re-converted into a Public Limited Company on 15e Company was changed on 15th December, 2010
mited.
mercial operation in July 15, 2003.
ry company as on the balance sheet date.
oceeds of the issue of shares would be applied directly by the company in
any financial statements for any year subsequent to June 30, 2015.
ars have been re-arranged whenever considered necessary.
016. C
Page | 160
6.2012 30.06.201110% NilNil Nil
in Bangladesh on 8th
into a Private Limited mited Company on 15th
from Yeakin Business
ctly by the company in
June 30, 2015.
ssary.
Sd/-ARTISAN
Chartered Accountants
Financial spread sheet analysis for the latest audited financial statements;
Particulars
PROPERTY & ASSETSNON-CURRENT ASSETSProperty, Plant and EquipmentLand & Land DevelopmentFactory BuildingPlant & MachineryOffice EquipmentFurniture & FixtureVehiclesCapital Work in ProgressCURRENT ASSETSInventoriesRaw MaterialsWork-In-ProgressFinished GoodsStores & SparesTrade & Other ReceivablesTrade ReceivablesOther ReceivablesAdvances, Deposits and Pre-paymentsAdvance VAT against Treasure & PurchasesAdvance against Land purchaseOffice rent (Corporate office)Khulna Office rentAdvance against L/C Margin, C & F Agent and PurchasesA I TAdvance to EmployeesSecurity DepositsFire InsuranceCash and Cash EquivalentsTotal AssetsSHAREHOLDERS' EQUITY & LIABILITIESSHAREHOLDERS EQUITYShare capitalGeneral ReserveTax Holiday ReserveRetained EarningsNON CURRENT LIABILITYLong Lerm BorrowingsBank LoanDeferred Tax LiabilitiesCURRENT LIABILITYCurrent Portion of Long Term LoanShort Term Bank LoanTrade CreditorsLiabilities for ExpensesSalaries & WagesElectricity chargesAudit feesTDS for DividendTelephone billProvision for Income TaxLiability for WPPFTotal Liabilities & Shareholders Equity
the latest audited financial statements;
Statement of Financial PositionAs at June 30, 2015
Amount Percentage
of Total A
398,281,284308,752,054
51,569,984117,583,881133,305,297
1,608,4154,449,674
234,80489,529,230
342,207,022124,650,443
79,817,59520,533,80714,460,940
9,838,101107,770,705106,318,616
1,452,089nts 56,207,148urchases 8,339,081
1,605,000600,000675,000
F Agent and Purchases 42,773,6911,800,989
42,587246,600124,200
53,578,727740,488,306
LITIES569,919,935390,000,000
8,357,00024,159,453
147,403,48233,909,32212,836,05512,836,05521,073,267
136,659,050n 5,293,968
58,193,9904,597,665
64,336,9641,309,526
12,789230,000543,000
1,916 062,239,733
4,236,463uity 740,488,306
Page | 161
rcentage f Total Asset
Grand Total
53.79%41.70%
6.96%15.88%18.00%
0.22%0.60%0.03%
12.09%46.21%
16.83%10.78%
2.77%1.95%1.33%
14.55%14.36%
0.20%7.59%1.13%0.22%0.08%0.09%5.78%0.24%0.01%0.03%0.02%7.24%
100.00%
76.97%52.67%
1.13%3.26%
19.91%4.58%
1.73%1.73%2.85%
18.46%0.71%7.86%0.62%8.69%0.18%
0.002%0.031%0.073%
0.0003%8.41%0.57%
100%
Statement of Profit and
Particulars
TurnoverSales RevenueLess: Cost of salesRaw material consumedStores & Spares ConsumedManufacturing Overhead
Add. Opening Work-in-Process
Less. Closing Work-in-ProcessCost of ProductionAdd. Opening Stock of Finished Goods
Less. Closing Stock of Finished GoodsGross ProfitLess: Operating ExpensesAdministrative ExpensesSelling ExpensesOperating ProfitLess: Financial ExpensesInterest for bank loan and ChargeProfit Before Other IncomeAdd. Other IncomeProfit before Contribution to WPPF & before TaxLess: Provision for WPPFNET PROFIT BEFORE TAXLess: Provision for TaxCurrent TaxDeferred TaxNet Profit after Tax
ment of Profit and Loss and other Comprehensive IncomeFor the year ended June 30, 2015
Year ended June 30, 2015
Percentage of Total Turnover
419,920,083419,920,083306,932,915244,721,830 58.28%
13,909,316 354,921,635 13.08%
313,552,78213,260,130
326,812,912(20,533,807)306,279,105 72.94%
ods 15,114,750321,393,855
ds (14,460,940)112,987,168
14,429,18311,026,775 2
3,402,408 098,557,98511,044,34811,044,348 287,513,637
1,452,089& before Tax 88,965,726
4,236,46384,729,26329,655,24219,657,463 4
9,997,780 255,074,021
Page | 162
me
f Total r
Grand Percentage
100%
73.09%8.28%3.31%3.08%
2.94%
26.91%3.44%
2.63%0.81%
23.47%2.63%
2.63%20.84%
0.35%21.19%
1.01%
7.06%4.68%2.38%
13.12%
Financial work sheet analysis for the latest audited financ
ParticularsTrial Balance
Dr CrProperty, Plant & Equipment 398,267,992Accumulated Depreciation 69,184Capital Work in Progress 89,529,230Inventories 124,650,443Trade Receivable 106,318,616Other Receivable -Advances, Deposits & Prepayments 4,927,589Cash & Cash Equivalent 53,578,727Share Capital 390,000General Reserve 8,357Tax Holiday Reserve 24,159Opening Retained Earnings 97,759Deferred Tax Liabilities 21,073Long Term Bank Loan 12,836Current Portion of Long Term Loan 5,293Short Term Bank Loan 58,193Trade Creditors 4,597Liabilities for ExpensesProvision for Income Tax 62,239Liability for WPPF 4,236Dividend 5,430,000Sales Revenue 419,920Cost of Goods Sold (Excluding Depreciation) 337,728,269Administrative Expenses (Excluding Depreciation) 9,081,862Selling & Distribution Expenses 3,402,408Depreciation Expense -Financial Expenses 11,044,348Other IncomeProvision for Contribution to WPPF 4,236,463Current Tax 19,657,463Deferred Tax (Income)/Expenses 9,997,780
1,177,851,189 1,177,85
Net Profit
Closing Retained Earnings
cial statements;
Adjustment Adjusted Trial balance Statement of Profit or Loss andOther Comprehensive Income
Dr Cr Dr Cr Dr Cr398,267,992
4,051 20,331,887 89,515,93889,529,230
124,650,443106,318,616
1,452,089 1,452,08951,279,559 56,207,148
53,578,7270,000 390,000,0007,000 8,357,0009,453 24,159,4539,461 97,759,4613,267 21,073,2676,055 12,836,0553,968 5,293,9683,990 58,193,9907,665 4,597,665
- 2,097,231 2,097,2319,733 62,239,7336,463 4,236,463
5,430,0000,083 419,920,083 419,920,083
1,002,126 51,112,772 287,617,623 287,617,6231,095,105 166,787 10,010,181 10,010,181
3,402,408 3,402,40820,331,887 20,331,887 20,331,887
11,044,348 11,044,348- 1,452,089 1,452,089 1,452,089
4,236,463 4,236,46319,657,463 19,657,463
9,997,780 9,997,7801,189 75,160,766 75,160,765 1,201,732,395 1,201,732,396 366,298,151 421,372,172
55,074,021421,372,172 421,372,172
1415
Page | 163
Statement of Changes inEquity(Retained Earnings) Statement of Financial Position
Dr Cr Dr Cr398,267,992
89,515,93889,529,230
124,650,443106,318,616
1,452,08956,207,14853,578,727
390,000,0008,357,000
24,159,45397,759,461
21,073,26712,836,055
5,293,96858,193,990
4,597,6652,097,231
62,239,7334,236,463
5,430,000
55,074,0215,430,000 152,833,482
47,403,482 147,403,48252,833,482 152,833,482
830,004,244 830,004,244
1. Earnings per Share (EPS) on fully diluted basis (The total existing no. of shares):
Net profit after TaxNo. of shares before IPOEarnings per Share (EPS)
2. Net profit excluding Extra-ordinary income or nonoperations:
Net profit before TaxLess: Other IncomeNet profit before tax except other incomeLess: Provision for TaxationLess: Deferred Tax ExpensesNet profit after tax except other income
3. Earnings per shares excluding extracore operations:
Net profit before TaxLess: Other IncomeNet profit before tax except other incomeLess: Deferred Tax ExpensesLess: Provision for TaxationNet profit after tax except other income No. of sharesEarnings per Share (EPS)
4. Net Asset Value per Share: a) Net Asset Value without Revaluation Reserve:
Share CapitalGeneral ReserveTax Holyday ReserveRetained EarningsTotal Shareholders' Equity (without Revaluation Reserve)Total Number of Ordinary Sharea) Net Assets Value (NAV) at BDT 10.00 per share (without Rev. Reserve)
y diluted basis (The total existing no. of shares):Particulars
dinary income or non-recurring income coming from other than core
Particulars
ncome
come
extra-ordinary income or non-recurring income coming
Particulars
ncome
come
tion Reserve:Particulars
t Revaluation Reserve)
10.00 per share (without Rev. Reserve)
Page | 164
Amount in Taka55,074,02139,000,000
1.41
from other than core
Amount in Taka84,729,263
1,452,089 83,277,17419,657,463
9,997,78053,621,932
oming from other than
Amount in Taka84,729,263
1,452,089 83,277,17419,657,463
9,997,78053,621,93239,000,000
1.37
Amount in Taka390,000,000
8,357,00024,159,453
147,403,482569,919,935
39,000,00014.61
Following statements for the last five years or any shorter period of commercial operation certified by the auditors: -
Statement of long term and short term
After due verification, we certify that the long term and short term borrowings including borrowing from related party or connected person of Yeakin Polymer Limited for the
For the year ended, 30 June, 2015
Name of Party Nature of Relationship
IBBL LenderSub: Total
IBBL LenderSub: Total
Grand Total
Name of Party Nature of Relationship
IBBL LenderSub: Total
IBBL LenderSub: Total
Grand Total
Name of Party Nature of Relationship
IBBL LenderSub: Total
IBBL LenderSub: Total
Grand Total
Name of Party Nature of Relationship
IBBL LenderSub: Total
IBBL LenderSub: Total
Grand Total
five years or any shorter period of commercial operation certified by the
rt term borrowings including borrowing from related party or persons
that the long term and short term borrowings including borrowing from of Yeakin Polymer Limited for the last five years made up as follows:
5
Nature of Borrowing
Balance as 30 June,
2015
Interest Rate
Interest Paid, (BDT)
Long Term 18,130,023 13.70 956,35818,130,023 956,358
Short Term 58,193,990 13.70 9,781,80758,193,990 9,781,80776,324,013 10,738,165
For the year ended, 30 June, 2014Nature of
Borrowing Balance as 30 June,
2014
Interest Rate
Interest Paid, (BDT)
Long Term 1,375,000 15.50 27,4431,375,000 27,443
Short Term 71,653,196 15.50 8,302,77271,653,196 8,302,77273,028,196 8,330,215
For the year ended, 30 June, 2013Nature of
Borrowing Balance as 30 June,
2013
Interest Rate
Interest Paid, (BDT)
Long Term - - -- -
Short Term 49,867,258 15.50 6,997,29649,867,258 6,997,29649,867,258 6,997,296
For the year ended, 30 June, 2012Nature of
Borrowing Balance as 30 June,
2012
Interest Rate
Interest Paid, (BDT)
Long Term - - -- -
Short Term 39,891,778 13.70 6,355,44139,891,778 6,355,44139,891,778 6,355,441
Page | 165
eration certified by the
d party or connected
uding borrowing from de up as follows:
rest (BDT)
Interest Accrued,
(BDT) ,358 -,358 Nil1,807 -1,807 Nil8,165 Nil
rest (BDT)
Interest Accrued,
(BDT) 443 -443 Nil2,772 -2,772 Nil0,215 Nil
rest (BDT)
Interest Accrued,
(BDT) - -- Nil7,296 -7,2967,296 Nil
rest (BDT)
Interest Accrued,
(BDT) - -- Nil5,441 -5,4415,441 Nil
Name of Party Nature of Relationship
IBBL LenderSub: Total
IBBL LenderSub: Total
Grand Total
The Yeakin Polymer Limited does not have any long term and short term borrowings from related party or connected persons for the period from 01 J
Dated; Dhaka, the 24th March 2016
For the year ended, 30 June, 2011
Nature of Borrowing
Balance as 30 June,
2011
Interest Rate
Interest Paid, (BDT)
Long Term 108,405 15.00 88,428108,405 88,428
Short Term 39,771,287 13.00 4,489,15039,771,287 4,489,15039,879,692 4,577,578
not have any long term and short term borrowings from related party or from 01 July 2010 to 30 June 2015
016 CHARTERED ACCOUNTANTS
Page | 166
rest (BDT)
Interest Accrued,
(BDT) 428 -428 Nil9,150 -9,1507,578 Nil
rom related party or
Sd/-ARTISAN
ACCOUNTANTS
Statement of principal terms of secured loans and assets on which charge have been created against those loans
Particulars 30-Jun-1Name of Lender IBBL
Purpose Machinery
Collateral Assets
251 Decimal Land of
Company and 5 Katha of third party
(Quazi Anwarul Haque
Chairman of Yeakin Polymer
Limited and Mrs. Maliha
Parvin wife of Chairman and shareholder of the Company),
Factory Building, plant
and machineries
Sanctioned Amount 40,000,000
Rate of Interest 13.70
Primary Security/ Collateral/Other
Security
Personal Guarantee of all Director,
L/C Documents, Post dated
Cheque drawn on the clients
current accounts with
the branch covering HPSM
installmentRe-payment
Schedule 60 Installment
Status, (Current Balance) 18,130,023
ecured loans and assets on which charge have been created against those loans
Amount in BDT5 30-Jun-14 30-Jun-13 30-Jun
IBBL IBBL IBBLry Machinery Machinery
mal fand of ty
l
of ymer nd ha e of and r of ny),
lant
ies
251 Decimal Land of
Company and 5 Katha of third party
(Quazi Anwarul Haque
Chairman of Yeakin Polymer
Limited and Mrs. Maliha
Parvin wife of Chairman and shareholder of the Company),
Factory Building, plant
and machineries
-
251 Decimal Land of
Company a5 Katha of third party
(Quazi Anwarul Haque
Chairman of Yeakin Polymer
Limited and Mrs. Maliha
Parvin wife of Chairman and shareholder of the Company)
00 40,000,000 - 20,000,000
15.50 - 15.00l
e of or,
ts, d
awn nts
with ch PSM nt
Personal Guarantee of all Director,
L/C Documents, Post dated
Cheque drawn on the clients
current accounts with
the branch covering HPSM
installment
-
Personal Guarantee of all Director,
L/C Documents, Post dated
Cheque drawn on the clients
current accounts with
the branch covering HPSM
installment
ment 60 Installment - 60 Installment
23 1,375,000 Nil Nil
Page | 167
reated against those loans
n-12 30-Jun-11BL IBBLnery Machinery
ecimal d of ny and ha of party azi arul ue
man of olymer d and
Maliha wife of an and lder of
mpany)
251 Decimal Land of
Company and 5 Katha of third party (Quazi
Anwarul Haque Chairman of
Yeakin Polymer Limited and Mrs. Maliha
Parvin wife of Chairman and shareholder of the Company)
0,000 20,000,000
00 15.00onal ntee of ector, C
ments, ated drawn clients ent ts with anch
g HPSM ment
Personal Guarantee of all Director,
L/C Documents, Post dated
Cheque drawn on the clients
current accounts with
the branch covering HPSM
installment
llment 60 Installment
l 108,405
Particular 30-Jun-1Name of Lender IBBL
Purpose Import/
Purchase Rmaterials
Collateral Assets
251 Decimal Land of
Company a5 Katha of third party
(Quazi Anwarul Haque
Chairman of Yeakin Polymer
Limited and Mrs. Maliha
Parvin wife of Chairman and shareholder of the Company),
Factory Building, plant
and machineries
Sanctioned Amount 90,000,000
Rate of Interest 13.70
Primary Security/ Collateral/Other
Security
Personal Guarantee of all Director,
L/C Documents, Post dated
Cheque drawn on the clients
current accounts with
the branch covering the sale price of
MPI/Murabaha goods
installment,Re-payment
Schedule Deal to deal
basisStatus, (Current
Balance) 58,193,990
Dated; Dhaka, the 24th March 2016
Amount in BDT5 30-Jun-14 30-Jun-13 30-Jun
IBBL IBBL IBBL/Raw s
Import/ Purchase Raw
materials
Import/ Purchase Raw
materials
Import/ Purchase Raw
materialsmal fand of ty
l
of ymer nd ha e of and r of ny),
lant
ies
251 Decimal Land of
Company and 5 Katha of third party
(Quazi Anwarul Haque
Chairman of Yeakin Polymer
Limited and Mrs. Maliha
Parvin wife of Chairman and shareholder of the Company),
Factory Building, plant
and machineries
251 Decimal Land of
Company and 5 Katha of third party
(Quazi Anwarul Haque
Chairman of Yeakin Polymer
Limited and Mrs. Maliha
Parvin wife of Chairman and shareholder of the Company),
Factory Building, plant
and machineries
251 Decimal Land of
Company a5 Katha of third party
(Quazi Anwarul Haque
Chairman of Yeakin Polymer
Limited and Mrs. Maliha
Parvin wife of Chairman ashareholder of the Company)
00 90,000,000 70,000,000 40,000,000
15.50 15.50 13.70l
e of or,
ts, d
awn nts
with ch the of
baha
nt,
Personal Guarantee of all Director,
L/C Documents, Post dated
Cheque drawn on the clients
current accounts with
the branch covering the sale price of
MPI/Murabaha goods
installment,
Personal Guarantee of all Director,
L/C Documents, Post dated
Cheque drawn on the clients
current accounts with
the branch covering the sale price of
MPI/Murabaha goods
installment,
Personal Guarantee of all Director,
L/C Documents, Post dated
Cheque drawn on the clients
current accounts with
the branch covering the sale price of
MPI/Murabaha goods
installment,eal Deal to deal
basis Deal to deal
basis Deal to deal
basis
90 71,653,196 49,867,258 39,891,778
March 2016 CHARTERED ACCOUNTANTS
Page | 168
n-12 30-Jun-11BL IBBLort/ se Raw rials
Import/ Purchase Raw
materials
ecimal d of ny and ha of party azi arul ue
man of olymer d and
Maliha wife of an and lder of
mpany)
251 Decimal Land of
Company and 5 Katha of third party (Quazi
Anwarul Haque Chairman of
Yeakin Polymer Limited and Mrs. Maliha
Parvin wife of Chairman and shareholder of the Company)
0,000 40,000,000
70 13.00onal ntee of ector, C
ments, ated drawn clientsent ts with anch ng the ice of rabaha ds ment,
Personal Guarantee of all Director,
L/C Documents, Post dated
Cheque drawn on the clients
current accounts with
the branch covering the sale price of
MPI/Murabaha goods
installment, o deal is
Deal to deal basis
1,778 39,771,287
Sd/- ARTISAN
TERED ACCOUNTANTS
Statement of unsecured loans with terms & conditions
This is to certify that Yeakin Polymer Limited has not taken any unsecured loan from body/related party from 01 July 2010 to 30 June 2015
Dated; Dhaka, the 24th March 2016
ItemsJune 30, 2015
Raw Materials 79,817,595Packing Materials -Work in Progress 20,533,807Finished Goods 14,460,940
Consumable Items -Store & Spares 9,838,101Trading Goods -
124,650,443
Dated; Dhaka, the 24th March 2
Statement of trade receivables showing receivable from related party and connected persons
Particulars June 30, 2015
General Party 105,242,031From Related Party 1,076,585
From Connected Person -Total 106,318,616
Dated; Dhaka, the 24th March 2
Statement of any loan given by the issuer including loans to related party or connected persons
This is to certify that the Yeakin Polymer Limited did not give any loan to any related party or cpersons from, 01 July
Dated; Dhaka, the 24th March 2016
ent of unsecured loans with terms & conditions
olymer Limited has not taken any unsecured loan from 010 to 30 June 2015
16 CHARTERED ACCOUNTANTS
Statement of InventoriesAmount in BDT
2015 June 30, 2014 June 30, 2013 June 30, 2012,595 66,561,260 32,129,053 31,256,766
- - -,807 13,260,130 10,492,000 9,904,087,940 15,114,750 13,694,694 10,792,740
- - -101 4,945,120 5,415,200 3,750,000
- - -0,443 99,881,260 61,730,947 55,703,593
2016 CHARTERED ACCOUNTANTS
ables showing receivable from related party and connected persons
Amount in BDT
2015 June 30, 2014 June 30, 2013 June 30, 2012
2,031 75,072,843 49,537,989 45,013,629585 3,836,463 3,390,450 2,753,261
- - -8,616 78,909,306 52,928,439 47,766,890
016 CHARTERED ACCOUNTANTS
n by the issuer including loans to related party or connected persons
n Polymer Limited did not give any loan to any related party or cersons from, 01 July 2010 to 30 June 2015.
016 CHARTERED ACCOUNTANTS
Page | 169
an from any person/
Sd/-ARTISAN
TERED ACCOUNTANTS
, 2012 June 30, 20156,766 28,046,040
-,087 4,947,625
2,740 4,143,490-
,000 1,330,580-
3,593 38,467,735
Sd/-ARTISAN
TERED ACCOUNTANTS
nected persons
30, 2 June 30, 2011
629 39,884,612261 734,294
-890 40,618,906
Sd/-ARTISAN
ERED ACCOUNTANTS
nnected persons
d party or connected
Sd/-ARTISAN
TERED ACCOUNTANTS
Particulars2014
Interest income 1Dividend incomeDiscount received
Other non-operating incomeTotal 1
Dated; Dhaka, the 24th March
Particulars June 30, 2015In cash 12,321,047
Through banking channel 301,280,420Sub total 313,601,467
Credit sale 106,318,616Grand total 419,920,083
Dated; Dhaka, the 24th March
Statement of other incomeAmount in (BDT)
014-2015 2013-2014 2012-2013 2011-2012,452,089 561,302 590,547 -
- - - -- - - -- - - -
,452,089 561,302 590,547 Nil
h 2016 ACHARTERED ACCOUNTANTS
Statement of turn overAmount in (BDT)
e 30, 2015 June 30, 2014 June 30, 2013 June 30, 20122,321,047 17,744,282 6,112,012 6,081,9841,280,420 220,088,422 164,880,889 97,421,2823,601,467 237,832,704 170,992,901 103,503,2666,318,616 78,909,306 52,928,439 47,766,8909,920,083 316,742,010 223,921,340 151,270,156
h 2016CHARTERED ACCOUNTANTS
Page | 170
2 2010-20115,428
---
5,428
Sd/-ARTISAND ACCOUNTANTS
e 30, 2012 June 30, 2011081,984 20,168,983,421,282 87,639,526
3,503,266 107,808,509,766,890 40,618,906
1,270,156 148,427,415
Sd/-ARTISAN
HARTERED ACCOUNTANTS
A: Directors remuneration
Name P
Quazi Anwarul Haque ChairmanS M Akter Kabir Managing DirectorQuazi Nazibul Haque DSk. Jamil Hossain DDr. S M Maniruzzaman D
Sub Total
B: Board meeting fees
Name P
Quazi Anwarul Haque ChairmanS M Akter Kabir Managing DirectorQuazi Nazibul Haque DSk. Jamil Hossain DDr. S M Maniruzzaman D
Mrs. Julia Parvin DMrs. Sabrina Samsad DSiddiqur Rahman Independent DirectorKhandaker Abdul Mabud Independent Director
Sub Total
C: Other transaction
Name NTransaction
Satkhira Feed Ltd. Sales of Finished
R.R Enterprise Purchases of Rawmaterials
Sub TotalGrand Total (A+B+C)
Dated; Dhaka, the 24th March
Statement of related party transactions
Amount in (BDT)
Position 2014-2015 2013-2014 2012-2
hairman 480,000 480,000 480,000ging Director 414,000 414,000 414,000Director 144,000 144,000 144,000Director 120,000 120,000 120,000
Director
1,158,000 1,158,000 1,158,000
Amount in (BDT)
Position 2014-2015 2013-2014 2012-2
hairman 6,750 6,750 3,750ging Director 6,750 6,750 3,750Director 6,750 6,750 3,750Director 3,750 6,000 3,750
Director 3,750 5,250 3,750
Director 3,750 - -Director 2,250 - -ndent Director 3,750 - -
ndent Director - - -
37,500 31,500 18,750
Amount in (BDT)ature of ansaction 2014-2015 2013-
2014 2012-2
of Finished Goods 10,555,690 5,563,563 4,436,921
rchases of wmaterials 11,752,198 - -
22,307,888 5,563,563 4,436,92123,503,388 6,753,063 5,613,671
rch 2016 C
Page | 171
2013 2011-2012 2010-2011
000 480,000 420,000000 414,000 360,000000 144,000 72,500000 120,000 96,000
8,000 ,000 1,166,000 948,500
2013 2011-2012 2010-2011
50 3,750 4,50050 3,750 4,50050 3,750 4,50050 3,750 3,000
50 3,000 3,000
- -- -- -
- -
50 18,000 19,500
2013 2011-2012 2010-2011
,921 3,862,566 2,736,528
- 931,108
,921 3,862,566 3,667,636,671 5,046,566 4,635,636
Sd/- ARTISAN
CHARTERED ACCOUNTANTS
Regarding reconciliation of business income shown in tax return with netstatements
This is to certify that the income of Yeakin Polymer Limited as per audited financial statements and income shown in tax return are similar during the last five year as such there was no matters of
Particulars
Net profit before tax as per audited Accounts 8
Income shown in tax return
Dated; Dhaka, the 24th March
Auditors’ disclosure regarding confirmation that all receipts and payments of the issuer above Tk. 5, 00,000/
This is to certify that all receipts and payments of Yeakin Polymer Limited above Tk. 5,00,000/were made through banking channel for the year ended 30 June 2011 to 30 June 2015
Dated; Dhaka, the 24th March 2016
Auditors’ disclosure regarding confirmation that bank statements of the issuer are in conformity with its
This is to certify that bank statements of the Yeakin Polymer Limited are in conformity with its books of accounts for the year ended 30 June 2011 to 30 June 2015
Dated; Dhaka, the 24th March 2016
Statement of payment status of Tax, VAT
Particulars 2014Tax 2,523,694VAT 62,988,012
Others Taxes/DutiesTotal 65,511,706
Dated; Dhaka, the 24th March 2016
ss income shown in tax return with net-income shown in audited
of Yeakin Polymer Limited as per audited financial statements and income uring the last five year as such there was no matters of
are shown below: Amount in BDT
2014-2015 2013-2014 2012-2013 2011-
84,729,263 60,085,193 41,256,916 18,391,285
Not yet submitted 60,085,193 41,256,916 18,391,285
h 2016 CHARTERED ACCOUNTANTS
ding confirmation that all receipts and payments of the issuer above 000/- (five lac) were made through banking channel
nd payments of Yeakin Polymer Limited above Tk. 5,00,000/nnel for the year ended 30 June 2011 to 30 June 2015
016 CHARTERED ACCOUNTANTS
onfirmation that bank statements of the issuer are in conformity with its books of accounts
nts of the Yeakin Polymer Limited are in conformity with its books of e 2011 to 30 June 2015
16 CHARTERED ACCOUNTANTS
f payment status of Tax, VAT and Other Taxes/ Duties
14-2015 2013-2014 2012-2013 2011-2012523,694 1,614,136 4,862,491 814,009,988,012 47,511,302 33,588,201 22,690,520
- - - -,511,706 49,125,438 38,450,692 23,504,529
h 2016 CHARTERED ACCOUNTANTS
Page | 172
wn in audited financial
atements and income of reconciliation which
-2012 2010-2011
1,285 17,023,225
1,285 17,023,225
Sd/-ARTISAN
TERED ACCOUNTANTS
he issuer above
00,000/- (Five lac) 5
Sd/-ARTISAN
TERED ACCOUNTANTS
conformity with its
with its books of
Sd/-ARTISAN
TERED ACCOUNTANTS
es
012 2010-201109 1,074,133520 22,264,112
-529 23,338,245
Sd/-ARTISAN
RED ACCOUNTANTS
CHAPTER (XXVII): PUBLIC ISSUE APPLICATION PROCEDURE
Step-1 (Applicant) 1. An applicant for public issue of securities shall submit application/buy instruction to the Stockbroker/
Merchant Banker where the applicant maintains customer account, within the cutsubscription closing date), which shall be the publication of abridged version of prospectus.
2. The application/buy instruction may be submitted in prescribed paper or electronic form, which shall contain the Customer ID, Name, BO Account Number, Number of and Category of the Applicant. At the same time:a) Other than non-resident Bangladeshi (NRB) and Foreign applicants shall make the application money
and service charge available in respective customer account maintained wStockbroker/Merchant Banker. No margin facility, advance or deferred payment is permissible for this purpose. In case the application is made through a margin account, the application money shall be deposited separately and the Stockbroker/Merchantfrom the margin account, which shall be refundable to the applicant, if become unsuccessful.
b) Non-resident Bangladeshi (NRB) and Foreign applicants shall submit bank drafts (FDD), issued in favor of the Issuer for anconcerned Stockbroker/Merchant Banker. A Nonmay also submit a single draft against 02(two) applications made by him/her, i.e. one name and the other jointly with another person. The draft (FDD) shall be issued by the Bank where the applicant maintains NITA/Foreign Currency account debiting the same account. No banker shall issue more than two drafts from any NITA/Foreisame time, the applicant shall make the service charge available in respective customer account maintained with the Stockbroker/Merchant Banker.
Step-2 (Intermediary)
3. The Stockbroker/Merchant Banker shall “Public Issue Application Account”. The Stockbroker/Merchant Banker shall:
a) post the amount separately in the customer account (other than NRB and Foreign applicants), and upon availability of fund, block the amount equivalent to the application money;
b) accumulate all the application/buy instructions received up to the cutthe “Public Issue Application Account” maintained with its bank within the first bannext working day of the cutMerchant Banker’s own portfolio, the application amount should also be transferred to the “Public Issue Application Account”;
c) instruct the banker to block the account for an amount equivalent to the aggregate application money and to issue a certificate in this regard.
4. Banker of the Stockbroker/Merchant Banker shall block the account as requested for, issue a certificate confirming the same and handover it to the respective Stockbroker/Merchant Banker.
5. For Non-resident Bangladeshi (NRB) and Foreign applicants, the Stockbroker/Merchant Banker shall prepare a list containing the draft information against the respective applicant’s particulars.
6. The Stockbroker/Merchant Banker shall prepare category wise lists of the applicants containing Customer ID, Name, BO Account Number and Number of Securities applied for, and working days from the cut-off date, send to the respective Exc(text format with tilde ‘~’ separator) format, the certificate(s) issued by its banker, the drafts received from Nonresident Bangladeshi (NRB) and Foreign applicants and a copy of the list containing the draft information.
7. On the next working day, the Exchanges shall provide the Issuer with the information received from the Stockbroker/Merchant Bankers, the drafts submitted by Nonapplicants and the list containing the drafcertificates in their custody.
SSUE APPLICATION PROCEDURE
of securities shall submit application/buy instruction to the Stockbroker/ applicant maintains customer account, within the cut
which shall be the 25th (twenty fifth) working dayn of prospectus.
on may be submitted in prescribed paper or electronic form, which shall me, BO Account Number, Number of Securities applied for, Total Amount
At the same time:Bangladeshi (NRB) and Foreign applicants shall make the application money available in respective customer account maintained wanker. No margin facility, advance or deferred payment is permissible for application is made through a margin account, the application money shall nd the Stockbroker/Merchant Banker shall keep the amount segregated which shall be refundable to the applicant, if become unsuccessful.
(NRB) and Foreign applicants shall submit bank drafts (FDD), issued in amount equivalent to the application money, with their application to the
Merchant Banker. A Non-resident Bangladeshi (NRB) and Foreign applicant draft against 02(two) applications made by him/her, i.e. one y with another person. The draft (FDD) shall be issued by the Bank where ITA/Foreign Currency account debiting the same account. No banker shall
fts from any NITA/Foreign Currency account for any public issue. At the shall make the service charge available in respective customer account
broker/Merchant Banker.
anker shall maintain a separate bank account only for this purpose namely unt”. The Stockbroker/Merchant Banker shall:
ly in the customer account (other than NRB and Foreign applicants), and block the amount equivalent to the application money;
tion/buy instructions received up to the cut-off date, deposit the amount in tion Account” maintained with its bank within the first bancut-off date. In case of application submitted by the Stock
portfolio, the application amount should also be transferred to the “Public ”;
ock the account for an amount equivalent to the aggregate application ficate in this regard.
erchant Banker shall block the account as requested for, issue a certificate dover it to the respective Stockbroker/Merchant Banker.
i (NRB) and Foreign applicants, the Stockbroker/Merchant Banker shall raft information against the respective applicant’s particulars.
Banker shall prepare category wise lists of the applicants containing unt Number and Number of Securities applied for, and f date, send to the respective Exchange, the lists of applicants in electronic parator) format, the certificate(s) issued by its banker, the drafts received i (NRB) and Foreign applicants and a copy of the list containing the draft
Exchanges shall provide the Issuer with the information received from the rs, the drafts submitted by Non-resident Bangladeshi (NRB) and Foreign ing the draft information. Exchanges shall verify and preserve the bankers’
Page | 173
on to the Stockbroker/ e cut-off date (i.e. the day from the date of
onic form, which shall lied for, Total Amount
the application money maintained with the ment is permissible for pplication money shall he amount segregated e unsuccessful.
drafts (FDD), issued in their application to the and Foreign applicant
i.e. one in his/her own ued by the Bank where count. No banker shall ny public issue. At the tive customer account
or this purpose namely
oreign applicants), and y;
, deposit the amount in first banking hour of
he Stock-dealer or the nsferred to the “Public
aggregate application
d for, issue a certificate ker.
Merchant Banker shall rticulars.
applicants containing and within 03 (three)
applicants in electronic ker, the drafts received st containing the draft
ation received from the shi (NRB) and Foreign d preserve the bankers’
8. The application/buy instructions shall be preserved by the Stockbroker/Merchant Bankers up to 6 months from listing of the securities with exchange.
Step-3 (Issuer)
9. The Issuer shall prepare consolidated list of the applications and send the applicants’ BOIDs in electronic (text) format in a CDROM to CDBL for verification. The Issuer shall post the consolidated list of applicants on its website and websites ofBO accounts of the applicants are active or not.
10. On the next working day, CDBL shall provide the Issuer with an updated database of the applicants containing BO Account Number, Name, Addresses,information along with the verification report.
11. After receiving verification report and information from CDBL, the Issuer shall scrutinize the applications, prepare category wise consolidated lists of valid of final status of subscription to the Commission and the Exchanges the date of receiving information from the Exchanges.
12. The Issuer and the issue manager shall conduct category03 (three) working days from the date of reporting to the Commission and the Exchanges, if do not receive any observation from the Commission or the Exchanges.
13. The Issuer and issue manager shall arrange posting the lottery result on their websites within hours and on the websites of the Commission and Exchanges within
14. Within 02 (two) working days
a) send category wise lists of the successful and unsuccessful applicants in electronic (text format with tilde ‘~’ separator) format to the respective Exchange.
b) send category wise lists of unsuccessful applicants conditions of the Consent Letter issued by the Commission in electronic (text format with tilde ‘~’ separator) format to the Commission and Exchanges mentioning the penalty amount against each applicant.
c) issue allotment letters in the names of successful applicants in electronic format with digital signatures and send those to respective Exchange in electronic form.
d) send consolidated allotment data (BOID and number of securities) in electronic text format in a CDROM to CDBL to credit the allotted shares to the respective BO accounts.
Step-4 (Intermediary)
15. On the next working day, EStockbroker/Merchant Bankers concerned in electronic format a
a) remit the amount of successful (other than NRB and Foreign) applicants to the Issuer’s respective Escrow Account opened for subscription purpose, and unblock the amount of unsuccessful applicants;
b) send the penalty amount of other provisions to the Issuer’s respective Escrow Accounts along with a list and unblock the balance application money;
16. On the next working day of receiving the documents from the Exchanges, the Stockbro
Banker shall request its banker to:
a) release the amount blocked for unsuccessful (other than NRB and foreign) applicants;
b) remit the aggregate amount of successful applicants and the penalty amount of unsuccessful applicants (other than NRB ‘Escrow’ accounts of the Issuer opened for subscription purpose.
ions shall be preserved by the Stockbroker/Merchant Bankers up to 6 urities with exchange.
lidated list of the applications and send the applicants’ BOIDs in electronic to CDBL for verification. The Issuer shall post the consolidated list of websites of the Exchanges. CDBL shall verify the BOIDs as to whether the are active or not.
DBL shall provide the Issuer with an updated database of the applicants ber, Name, Addresses, Parents’ Name, Joint Account and Bank Account
rification report.
report and information from CDBL, the Issuer shall scrutinize the wise consolidated lists of valid and invalid applications and submit report
to the Commission and the Exchanges within 10 (ten) working dayson from the Exchanges.
ager shall conduct category wise lottery with the valid applications m the date of reporting to the Commission and the Exchanges, if do not he Commission or the Exchanges.
r shall arrange posting the lottery result on their websites within he Commission and Exchanges within 12 (twelve) hours
of conducting lottery, the Issuer shall:
f the successful and unsuccessful applicants in electronic (text format with to the respective Exchange.
of unsuccessful applicants who are subject to penal provisions as per Letter issued by the Commission in electronic (text format with tilde ‘~’
Commission and Exchanges mentioning the penalty amount against each
n the names of successful applicants in electronic format with digital to respective Exchange in electronic form.
ent data (BOID and number of securities) in electronic text format in a the allotted shares to the respective BO accounts.
Exchanges shall distribute the information and allotment letters to the rs concerned in electronic format and instruct them to:
cessful (other than NRB and Foreign) applicants to the Issuer’s respective for subscription purpose, and unblock the amount of unsuccessful
t of other than NRB and Foreign applicants who are subject to penal respective Escrow Accounts along with a list and unblock the balance
receiving the documents from the Exchanges, the Stockbror to:
d for unsuccessful (other than NRB and foreign) applicants;
ount of successful applicants and the penalty amount of unsuccessful NRB and foreign) who are subject to penal provisions to the respective ssuer opened for subscription purpose.
Page | 174
hant Bankers up to 6
nts’ BOIDs in electronic he consolidated list of OIDs as to whether the
base of the applicants unt and Bank Account
shall scrutinize the ions and submit report en) working days from
lid applications within e Exchanges, if do not
ebsites within 06 (six) ours of lottery.
ronic (text format with
enal provisions as per t format with tilde ‘~’
y amount against each
c format with digital
ronic text format in a
llotment letters to the o:
the Issuer’s respective mount of unsuccessful
o are subject to penal d unblock the balance
tockbrokers/Merchant
licants;
mount of unsuccessful ions to the respective
17. On the next working day of receiving request from the Stockbrokers/Merchant Bankers, their bankers shall unblock the amount blocked in the account(s) and remit the amount as requested for to the Issuer’s ‘Escrow’ account.
18. Simultaneously, the stockbrokers/Merchant Bankers shall release the application money blocked in the customer accounts; inform the successful applicants abapplicants about releasing their blocked amounts and send documents to the Exchange evidencing details of the remittances made to the respective ‘Escrow’ accounts of the Issuer. The unblocked amounts of unsuccessful applicants shall be placed as per their instructions. The Stockbroker/Merchant Banker shall be entitled to recover the withdrawal charges, if any, from the applicant who wants to withdraw the application money, up to an amount of Tk. 5.00 (five) p
19. All drafts submitted by NRB or Foreign applicants shall be deposited in the Issuer’s respective ‘Escrow’ accounts and refund shall be made by the Issuer by refund warrants through concerned stockbroker or merchant banker or transfer to theworking days from the date of lottery.
Miscellaneous:
20. The Issuer, Issue Manager(s), Stockbrokers and Merchant Bankers shall ensure compliance of the above.
21. The bank drafts (FDD) shall be issued considering TT Clean exchange rate of Sonali Bank Ltd. on the date of publication of abridged version of prospectus.
22. Amount deposited and blocked in the “Public Issue Application Account” shall not be withdrawn or transferred during the blocking period. Amount deposited by the applicants shall not be used by the Stockbrokers/Merchant Bankers for any purpose other than public issue application.
23. The Issuer shall pay the costs related to data transmission, if claimed byamount of Tk.2,00,000.00 (taka two lac) for a public issue.
24. The Stockbroker/Merchant Bankers shall be entitled to a service charge of Tk.5.00 (taka five) only per application irrespective of the amount or category. The serthe time of submitting application.
25. The Stockbroker/Merchant Banker shall provide the Issuer with a statement of the remittance and drafts sent.
26. The Issuer shall accumulate the penalty amount recovered and sdraft/payment order issued in favor of the Bangladesh Securities and Exchange Commission.
27. The concerned Exchange are authorized to settle any complaints and take necessary actions against any Stockbroker/Merchant Banker in case of violation of any provision of the public issue application process with intimation to the Commission.
All eligible Stock Brokers and Merchant Bankers shall receive the IPO subscription.
receiving request from the Stockbrokers/Merchant Bankers, their bankers ked in the account(s) and remit the amount as requested for to the Issuer’s
ers/Merchant Bankers shall release the application money blocked in the e successful applicants about allotment of securities and the unsuccessful ir blocked amounts and send documents to the Exchange evidencing details he respective ‘Escrow’ accounts of the Issuer. The unblocked amounts of be placed as per their instructions. The Stockbroker/Merchant Banker shall hdrawal charges, if any, from the applicant who wants to withdraw the
mount of Tk. 5.00 (five) per withdrawal.
or Foreign applicants shall be deposited in the Issuer’s respective ‘Escrow’ made by the Issuer by refund warrants through concerned stockbroker or to the applicant’s bank account through banking channel within 10 (ten) lottery.
Stockbrokers and Merchant Bankers shall ensure compliance of the above.
e issued considering TT Clean exchange rate of Sonali Bank Ltd. on the date sion of prospectus.
ed in the “Public Issue Application Account” shall not be withdrawn or ng period. Amount deposited by the applicants shall not be used by the
ers for any purpose other than public issue application.
related to data transmission, if claimed by the Exchange concerned up to an ka two lac) for a public issue.
ankers shall be entitled to a service charge of Tk.5.00 (taka five) only per amount or category. The service charge shall be paid by the applicant at
tion.
anker shall provide the Issuer with a statement of the remittance and drafts
e penalty amount recovered and send it to the Commission through a bank favor of the Bangladesh Securities and Exchange Commission.
authorized to settle any complaints and take necessary actions against any r in case of violation of any provision of the public issue application process sion.
kers and Merchant Bankers shall receive the IPO subscription.
Page | 175
Bankers, their bankers ested for to the Issuer’s
money blocked in the s and the unsuccessful ange evidencing details unblocked amounts of Merchant Banker shall
wants to withdraw the
er’s respective ‘Escrow’ ncerned stockbroker or hannel within 10 (ten)
mpliance of the above.
li Bank Ltd. on the date
not be withdrawn or all not be used by the n.
nge concerned up to an
00 (taka five) only per aid by the applicant at
e remittance and drafts
mission through a bank mmission.
ary actions against any sue application process
scription.
“cyuwRevRv‡i wewb‡qvM SzuwKc~Y
APPLICATION FOR PUBLIC ISSUE
Date:
Name of applicant :
Client Code :
BO ID No. :
Category of applicant :
Name of the Company :
Number of Shares : …
Total amount in Tk. :
Amount in word :
Applicants
wb‡qvM SzuwKc~Y©| †R‡b I ey‡S wewb‡qvM Ki~b
…………………………. Shares of Tk. …………………… each
Authorized Officer
Page | 176
b|"
……… each
rized Officer
CHAPTER (XXVIII): OTHERS
Auditors’ additional disclosure relating to the financial statements of
1. Discloser regarding land & development cost as Total Cost Break Up Tk. 51,569,984 as on 30 June 2015ParticularTotal Land: 276.708 Deed ValueRegistration costRegistration cost for company name changes deed.Boundary Wall: 20 feet height RCC pillar from ground level wfeet running 263 meter @ Tk.4,000 per meterRoad development:Entry Road (connection of Dhaka -Entry Road development and Construction ( Soil / Send filling, Brick, Labor, Carrying Cost) and Plantation work (Both Side) 10 feet height up to high way road filling running 639 meter @ Tk.7,000 per meter.Internal Road area & water drainage system development: a. Development and construction by connectivity road area of factory premises. filling running 1609 mtr @ Tk.3,250 per meter b. Water/ sewerage line and culvert, water outlet line up to main cannel of 10 feet height with storm RCC pipe line up to high way level filling Tk.3,431 per meter. Old Pond Filling: Soil, Sand, Labor, Carrying Cost of Pond filling in factory premises 89,per cft. Earth Filling: Enter factory premises area development cost up to 30.06.2015 by local sand , soil, with labor& carrying, etc.[outside of building aarea filling 1,668,614 cft @ Tk.16 per cft. Plantation: Various type of fruits plant both side of every internal Road Per tree avg. rate Tk.350/= (Including seeds and fertilizer) New Pond Excavation:For chilling plant water disposal and reuse including rain water reservoir as per compliance of ISO 14001: 2004 including excavation, leveling, RCC piling for site protection, water filtering reservoir for supply water to machine, filling, dressing. 27,800 rft @ Tk.180.00
Total
ting to the financial statements of Yeakin Polymer Limited
lopment cost as shown in note 4 in the audited financial statement.4 as on 30 June 2015
276.708 Decimal
e changes deed.
und level with great beam and bricks work up to 6 0 per meter
Satkhira high way with factory premises) :truction ( Soil / Send filling, Brick, Labor, Carrying de) 10 feet height up to high way road filling running
ge system development: by Soil, Sand, Brick, Labor, Carrying cost of internal remises. filling running 1609 mtr @ Tk.3,250 per
rt, water outlet line up to main cannel of 10 feet p to high way level filling running 1609 meter @
Pond filling in factory premises 89,688 cft @ Tk.16
pment cost up to 30.06.2015 by local sand , soil, of building area & portion of road] including dish per cft.
de of every internal Road Per tree avg. rate Tk.350/=
nd reuse including rain water reservoir as per cluding excavation, leveling, RCC piling for site r for supply water to machine, filling, dressing.
Taka
Page | 177
mited
cial statement.
Taka
1,070,000 267,500 512,000
1,052,000
g 4,475,000
10,749,640
1,435,010
26697824
300,890
5,010,120
51,569,984
2. D
S/L L/C No. & name of bank & supplier
1
LC no: 086815010228L.C Beneficiary: Garter Mechanical Eng. Co.Ltd.,Taiwan. L.C opening Bank: Islami Bank
Bangladesh Ltd. Khulna Branch.
2 Local purchases.
3
LC no: 086815020006L.C Beneficiary: Jackson International Pvt. Ltd.
Singapore. L.C opening Bank: Islami BankBangladesh Ltd. Khulna Branch.
4 Local purchases.
5
LC no: 086815010500L.C Beneficiary: SOCOMEC Asia Pacific Pvt.,
Singapore.L.C opening Bank: Islami Bank Bangladesh Ltd.
Khulna Branch.
6 Local purchases.
Sub Total
Details of capital work in progress incurred as shown in Note 05A. Capital Work in Progress (Machineries)
Particulars of machineryInvoiceValue,(USD)
InvoiceValue (in
BDT),
Local co( In Tk
8 shuttle Looms 4 sets for FIBCand existing looms with
conversion line spares. Countryof origin: Taiwan, Mfg:GarterMechanical Eng. Co. Taiwan.
110,170 8,648,345 2,015,5
Electrical cable, DB box, 30KVA Stabilizer, etc. Supplier:Poly Cable, Ambision Power,
Cytack Power and othercompany Dhaka.
1,238,5
Diesel Generator, Capacity550KVA County of Origin: UK.
Mfg: CUMMING POWERGENERATION, UK.
55,000 4,317,500 1,177,1
L.T cable, for supply line DG tomachine changeover. Auto
change over box, Supplier: BRBCable, Cytack Power and other
company Dhaka.
898,7
200 KVA Uninterruptible PowerSupply (UPS) County of Origin:French. Mfg: SOCOMEC, French
36,500 2,864,206 2,862,9
L.T cable, for supply line Sub-station to DG to machine DB.Supplier: BRB Cable, CytackPower and other company
Dhaka.
567,7
201,670 15,830,051 8,760,6
Page | 178
ost.)
Total(In Tk.) Present status:
541 10,663,886 Machineinstallation
complete andproduction
running580 1,238,580
177 5,494,677 Machineinstallation
complete andproduction
running700 898,700
933 5,727,139
UPS Installationcomplete and
under operation
704 567,704
635 24,590,686
S/L L/C No. & name of bank & supplier
7
LC no: 086815010227L.C Beneficiary: Gubber Eng. Co. India. L.copening Bank: Islami Bank Bangladesh Ltd.
Khulna Branch.
8
LC no: 086815020002L.C Beneficiary: Zhejiang Tianfeng Plastic
Machinery Co. Ltd., China L.c opening Bank:Islami Bank Bangladesh Ltd. Khulna Branch.
9 Local purchases.
Sub TotalGrand Total
Particulars of machineryInvoiceValue,(USD)
InvoiceValue (in
BDT),
Local co( In Tk
10 sets FIBC & Fashion Bagsewing machine with spares. 33,777 2,651,495 809,2
Roll to roll auto 6 colorsprinting line with 20 sets roller,4 sets Leno looms,Needle loom,
bobbin, recycling machinescrew +barrel 2 sets with otheraccessories& spares. Country oforigin : China, Mfg.:Tianfeng
Plastic Machinery Co. Ltd.,China
294,500 23,197,765 2,391,6
Spare parts for loom, tape line,lamination machine 785,9
328,277 25,849,260 3,986,7529,947 41,679,311 12,747,3
Page | 179
ost.)
Total(In Tk.) Present status:
217 3,460,712
6 machinerunning and
balance underinstallation for
exportproduction line
631 25,589,396
Machine underinstallation in
30.06.2015 andnow completedand production
running
900 785,900
748 29,836,008383 54,426,694
B. Capital Work in Progress (
S.L Particulars of construction1 Power House with power control room:
a
Brick wall,C.C/RCC floor, steel truss & sheet fabricated, RCC foundation for DG vibration proof of all floor area, Generator / substation equipments setting area heavy RCC/ CC stone casting foundation, window, shatter, etc.
b
Foundation for 2 sets Diesel Generator Installation in power home by with stone cheeps RCC casting by stone cheeps, other.
2 Emergency workers residence (Dormitory)4 storied foundation RCC structurewall, C.C/RCC floor, RCC roof with tiles in bath room & complete all interior each floor 1,500 sft 3 floors.
3 Extension of Guest house & managers quarter3 storied foundation per floor 800 sft. RCC structure Brick wall, C.C/RCC floor mirror tiles, RCC roof, Thai window, doors, high grade fitting in bath room and other a complete building
4 Recycling machine shade with wastage store and machine setting arrangement:
aBrick wall,height 18 feet, C.C/RCC floor, steel truss & sheet fabricated, RCC foundation window, shatter, etc.
b
Water tank for recycling machining setting with water drainage system, overhead tank including line cost for 2 sets recycling machine.
5 UPS Room heat proof AC arrangement 15" Brick wall with heat proof false ceiling, wooden glass door for setup 2 sets UPS with 60 nos battery.
6 Garbage storage shadeBrick wall ,height 14 feet, C.C/RCC floor, steel truss & sheet fabricated, RCC foundation window, doors, etc.
ss (Factory Building):
onstruction Total area Total amount control room:
3,000 8,115,000
, steel truss & sheet n for DG vibration nerator / substation eavy RCC/ CC stone
ow, shatter, etc.el Generator
me by with stone ne cheeps, rod with
20'x10'x9'h each 2 area 909,040
ence (Dormitory)
4,500
12,141,000
structure, Brick roof with tiles in interior each floor
& managers quarter
2,400 8,527,200
loor 800 sft. RCC RCC floor with ai window, doors, room and other a
with wastage store ngement:
1,200 2,386,800 C.C/RCC floor, steel RCC foundation
machining setting m, overhead tank ets recycling Total cost 865,896
arrangement
500 1,140,000 proof false ceiling, up 2 sets UPS with
800 1,017,600 C.C/RCC floor,
ted, RCC foundation
Total 35,102,536
Page | 180
t Present status:
90% work completed and DG under installation.
85% completed
85% completed
100% completed and production
continuing
100% completed and using
100% completed and using
6
03. In note 06 of the audited financial statement for t
Details of Work
S/L
1 Different size PP woven fabric in roll2 Different size PP woven fabric with machine3 Cutting & sewing bag for printing4 Own wastage Recycling PP for reuse5 Yarn in bobbin (loom & process store)
Total Taka
Details of Finished Goods
S/L Sector Wise Finish Goods
1 PP Woven Feed Bag (50Kg)2 PP Woven Feed Bag (253 PP Woven Textile Jumbo Bag4 PP Woven Fertilizer Bag (50kg)5 PP Woven Fertilizer Bag (206 PP Woven Food Grain Bag (BOPP Pasted)7 PP Woven Food Grain Bag (Laminated)8 PP Woven Food Grain Bag 9 PP Woven Other Bag
10 HDPE inner liner BagTotal Taka
4. Regarding balance confirmation certificates against trade receivables as shown in the note 7 of the audited Financial Statements for the year ended 30 June 2015We have send balance confirmation letter to all 51 respective parties regarding trade 43 confirmed their balance rest 8 (Eight) Parties NamFood, Shahana Auto, Ennoble Tradin, Joloj Trading, verbally confirmed the balance.
5 Balance of trade receivable Shown in note
and subsequent status as on 11.02.2016
Sl. No
Name of the party: A
1Al-Amin Banijjya Bhandar
Jaodanga, Satkhira.
2 Ali Apon Auto Flower Mills Navaron, Jessore.
3 Dolil Uddin Basta Bhandar Jaodanga, Sakhira
4 City Food Station Road, K
5 Adarasha Rice Mills Katia, Satkhira.
6 Azad Store Tan Bajor, Narayangonj.
7 Abdul Kader Kustia Varamara, Kustia.
8 Abul Kashem Barobazar, Satkhira
9 Aftab Feeds Rupgong, Rupshi Narayangonj.
10 Anika Feed Ltd. Moylapota, Khulna.
11 Aristo Food Monirampur, Jessore.
12 Arronno Feeds Ltd. Newmarket, Jessore.
ancial statement for the year ended 30 June 2015 the be added
k-In-Progress
Particulars In KG
fabric in rollfabric with machine
or printingPP for reuseprocess store)
Taka 1
Goods
or Wise Finish Goods Quantity (pcs)
Kg)-30Kg)o Bagg (50kg)g (20-30,kg) 1ag (BOPP Pasted)ag (Laminated)ag (Un-Laminated)
22
Taka 1,109,762
on certificates against trade receivables as shown in the note 7 of the audited ended 30 June 2015on letter to all 51 respective parties regarding trade
8 (Eight) Parties Namely Dolil Uddin Basta Bhandar, Arronno adin, Joloj Trading, Krishi Bitan, Faruk Store did not give answer written but
Shown in note-7 of the Audited Financial Statement as on n 11.02.2016
AddressOpening
balance as on 01.07.2014
Balance As on 30.06.2015
ga, Satkhira. - 2,102,301
ron, Jessore. - 3,340,138
nga, Sakhira 2,086,684 3,569,226
ion Road, Khulna. 172,551 2,899,091
a, Satkhira. 778,499 2,570,729
an Bajor, ayangonj. 2,348,328 2,670,958
mara, Kustia. 102,000 -
zar, Satkhira 1,286,884 2,579,292ong, Rupshi ayangonj. 3,622,274 3,769,389
pota, Khulna. 174,944 -nirampur, essore. 248,130 1,613,850
arket, Jessore. 142,900 1,151,751
Page | 181
following statement will
KGWork-In-
Progress ( In Values)
59,549 10,421,15219,000 3,324,93119,377 3,487,82017,738 1,862,538
8,984 1,437,36624,648 20,533,807
y (pcs) Finished Goods (in Values)
50,171 1,229,17985,962 1,547,32083,902 2,936,58718,696 523,48677,387 1,330,40633,773 743,00353,591 911,03992,550 1,156,87595,210 3,099,70218,521 983,34309,762 14,460,940
the note 7 of the audited
receivables. Among them Arronno Feeds Ltd. Aristo t give answer written but
nt as on 30 June 2015
n Subsequent realization as on
11.02.2016
-
102,356
-
-
56,836
1,356,230
-
-
-
-
-
104,050
13 Asif International. Basabo, Dhaka.
14 BRAC Feed Mill Gona bazar, G
15 Shahana Auto Puran Bazar, Lalmonir Hat.
16 Sema Store (Chitto) Jaodanga, Satkhira
17 Ennoble Trading Poradaho, Kustia.
18 Green Bangla Corporation Jamalpur.
19 Hossain Traders Nowapara, Jessore.
20 J. A Trading Hali Shohor Chittagong
21 Joloj Trading Kaligonj, Satkhira.
22 Joint Trading Corporation Ltd. Nowapara, Jessore.
23 Krishi Bitan. Par Noagoa, Nougoa.24 Marine Agro Kalibari, Khulna.
25 Mokbul Traders Satation Road,
Nurani Mosque Bulding, Khulna.
26 Mostofa Traders. Station Road, K
27 Masud Brothers. Station Road, K
28 MNR Trade International Urdo Road, Dhaka.
29 Nowapara Traders. Nowapara, Jessore.
30 K B C, Dhaka Agro Krisi Market, D
31 R.S Poultry Rupgong, Narayangonj.
32 Rashid Agro Food. Poradaho, Kustia.
33 Ritu Hatchery. Madhopkati, Satkhira.
34 Rubel Brothers Majhirghat, Chittagong.
35 Rustom Traders. Kathia, Satkhira.
36 Rakib Auto Rice Patkarghata, Satkhira.
37 S Y Traders Mowna, Gagipur.
38 Satkhira Feed Industries Ltd. Labshia, Satkhira.
39 Super Standard Products Ltd. Joydebpur, Gazipur.
40 Sarker Traders Par Noagoa, Nougoa.41 Khaitan Traders Par Noagoa, Nougoa.
42 Planet Feed. Sidstore valuka Moymonsing.
43 Jalil & Brothers. Par Noagoa, Nougoa.44 S.B. Poultry feed Malipota, Khulna45 Total Feeds Ltd. Sonadanga, Khulna
46 Tradex International
Netaigonj, Narayangonj.
47 Biswas Autor rice Kathia, Shatkhira.
48 Uttara Food & Feeds (BD) Ltd.
Monirampur, Jessore.
49 Mukunda Flower Mills.
Patkelghata, Tala, Satkhira.
50 White Gold Feed Ltd.
KDA K
bo, Dhaka. 1,172,740 1,369,012
na bazar, agipur. 666,406 666,406
an Bazar, monir Hat. 1,322,500 2,079,579
nga, Satkhira 2,418,089 3,145,909
aho, Kustia. 1,379,643 1,664,900
malpur. - 1,895,492
para, Jessore. 1,703,656 2,756,885li Shohor
hittagong 3,524,516 2,763,552
nj, Satkhira. - 1,533,690
para, Jessore. 2,450,477 3,227,835
agoa, Nougoa. 98,710 1,002,594ari, Khulna. 839,612 2,415,177tion Road,
ani Mosque ng, Khulna.
4,360,747 3,511,738
ion Road, Khulna. 2,952,660 2,403,529
ion Road, Khulna. 1,943,742 2,103,779
Road, Dhaka. 887,500 1,473,055
para, Jessore. 1,005,881 2,052,100
Krisi Market, Dhaka. - 1,453,670
upgong, ayangonj. 2,318,987 3,105,947
aho, Kustia. 88,196 1,404,654
dhopkati, atkhira. 314,556 1,838,496
ajhirghat, ittagong. 5,375,897 3,724,858
a, Satkhira. 261,630 497,707karghata, atkhira. 1,865,760 1,992,698
na, Gagipur. 1,613,198 1,367,136
ia, Satkhira. 3,836,463 1,076,585
pur, Gazipur. 1,288,470 2,060,362
agoa, Nougoa. 2,191,563 2,011,244agoa, Nougoa. 1,561,909 1,967,711ore valuka ymonsing. 670,456 1,067,247
agoa, Nougoa. 1,313,855 1,918,892ota, Khulna 508,654 1,129,503
anga, Khulna 2,360,375 1,763,089etaigonj, ayangonj. 3,409,400 3,291,234
a, Shatkhira. - 1,181,630nirampur, essore. 4,022,021 3,284,233
ghata, Tala, atkhira. 845,280 1,002,375
A Avenue,Khulna. 747,243 994,785
Page | 182
-
-
-
12,305
659,350
-
-
365,900
-
-
-17,250
-
-
146,350
973,055
-
-
-
101,452
-
102,530
-
-
-
-
-
--
956,820
756,350--
-
-
1,125,163
-
-
51 Faruk Store Cakty,
52 Pappu Traders Nowgoan Bazar, N
53 Zerin Composite Board Bazer, Tongi.Total Taka
6. Information as per schedule XI of the Companies Act 1994 regarding trade receivables in note 7.01Information as per schedule XI of the Companies Act 1994 regarding trade receivables in note 7.01 for the year ended 30 June 2015 will be replaced in the following way:
SL. Particulars
I Receivables considered good in of which the company is fully secured
II
Receivables considered good in respect of which the company holds no security other than the debtor personal security
III Receivable considered doubtful or bad
IV
Receivable due by directors or other officers of the company or any of them either severally or jointly with any other person or debts due by firms or private companies respectively in which any director is a partner or a director or a member to be separately stated
V Receivables due by common management
VI The maximum amount of receivable due by any director or other officer of the company
Total Taka
Chittagong. 2,185,200 1,817,438goan Bazar, Nowga. 1625000 1,387,632
Bazer, Tongi. 2,815,120 2,647,533
78,909,306 106,318,616
of the Companies Act 1994 regarding trade receivables in note 7.01he Companies Act 1994 regarding trade receivables in note 7.01 for the eplaced in the following way:
30.06.2015dered good in respect pany is fully secured
106,318,616
dered good in respect pany holds no n the debtor personal
-
dered doubtful or bad -directors or other
mpany or any of them r jointly with any ebts due by firms or s respectively in or is a partner or a
mber to be separately
-
y common -
mount of receivable or or other officer of
-
Taka 106,318,616
Page | 183
112,635
365,260
-
6 7,313,892
es in note 7.01in note 7.01 for the
30.06.201478,909,306
-
--
-
-
78,909,306
7. Break up of advance against L/C Margin, C & F Agenti). Advance against L/C Margin
S/L L/C No.
1 L/C, No. 00000868150105522 L/C, No. 00000868150200083 L/C, No. 00000918150102024 L/C, No. 0000086815010457
Totalii.) Advance to C & F AgentSL. Name of Agent
MZ InternationalTaher building 1st Floor08, Gosaildanga Agrabad
ChittagongTotal Taka
and purchase, as on 11.02.2016
L/C Amount (In USD) ExchangeRate L/C Amount (BDT)
1,750.00 78.40 137,200.00104,500.00 78.40 8,192,800.00128,000.00 78.50 10,048,000.00136,500.00 78.50 10,715,250.00370,750.00
Balance as on 30.06.2015 Balance as on 1
1,204,606.00 -
1,204,606.00 -
Page | 184
MarginRate(In%)
Total L/C Marginas at 30.06.2015
15% 20,580.0015% 1,228,920.0015% 1,507,200.0015% 1,607,287.50
4,363,987.50
11.02.2015
-
-
ii.) Advance against Purchases
Sl. No Name of the party:
PP, Lamina. & HDPE
1 Independent Accessories
2 Gias Enterprise, Urdo road, Dhaka M3 Gaffer & Co. 69
4 Lamia Plastic 9
5 Khokho Packaging 94
6 Nahid Enterprise 19Ba
Ink & Thinner
7 Maintenance Solution HSe
8 Decent Trade 3
Filler & Caco3
9 Saleha Metal SaS
CMB
10 Hossain Enterprise 1
11 Color CenterTotal Taka
8. FDR as disclosed in note 10.1 to the financial statemenWe have physically verified all the FDR amount Tk. 38,00
AddressOpening
balance as on01.07.2015
Balance As on30.06.2015
15, Bijoy Nagor, (AkramTower, 7th floor) Dhaka 1,846,500 2,946,5
40, Moulana Mufti DinMohammad Sarak, Lalbagh 7,829,400 7,829,4
9, Begum Bazar Dhaka-1100 6,734,403 9,734,494, Kazi Dewan Sing Road,
Dhaka-1211 9,106,180 6,106,1
4, Nazimuddin Road Dhaka-1100 2,202,127 3,202,1
9, Umesh Dutta road, Bakshiazar, Lalbagh, Dhaka-1211. 2,435,690 3,435,6
House-32, Lake Drive Road,ector-7, Uttara, Dhaka-1230 576,108 1,420,0
3/2, Ishwar Chandra GhoshStreet, Dhaka -1100 470,950 871,0
aleha Metal Industries NazirShankarpur, Jessore-7400. 543,670 1,043,6
12, Kamol Daha road (UrdoRoad), Lalbagh, Dhaka. 311,829 311,8
304,250 304,232,361,106 37,205,0
nts prepared for the period ended 30 June 201500,000/= (Three Corer Eighty Lac) only and found the receipt in order.
Page | 185
Subsequent Balance upto sign date
(11.02.2016)
00 2,056,057
00 4,516,950
03 4,489,650
80 5,625,150
27 2,845,650
90 2,323,976
-
27 1,135,260
22 1,952,640
-
70 956,830
-
29 1,136,500
49 365,93097 27,404,593
09. Balance of trade creditors shown in note-16 of the
SL Particulars
1 M/S. S.Y EnterpriseChGaz
2 M/S Golden Plastic15Dh
3 M/S. Tanvir Plastic Center 46/
4 M/S. R.R enterprise 83tow
5 Gias Enterprise, Urdo road, Dhaka 40Lal
6 M/S Hossain Traders 12Dh
7 M/S. Khandakar Enterprise 198 M/S. Chowdhury & Commercial Agency 374
9 M/S Century Plastic 1512
10 M/S. Danish Industries (PVT) Ltd. 1311 M/S. Shahida Enterprise 3612 M/S S R Impex Co. 188
13 M/S. Rasco Computers 120Mo
14 M/S H H Traders HoRam
15 M/S. Tems Corporation 15
16 M/S. Shaque Enterprise 1312
17 M/S. Royl Enterprise 7/B35
18 M/S Munshi & Brothers 9/19 M/S Nishat Traders Mo20 Desent 3/221 M/S. Nahar Packaging Industries 3322 M/S Q.B Enterprise 11/
Total
Audited Financial Statement as on 30 June 2015 and subsequent status as on
Address Opening balanceas on 01.07.2015
acarara, Medical More, Mowna, Sreepur,zipur3/1-A Water Works Road, Chawk-Bazar,
haka-1211 -/47, KB Rudro Road, Chandnighat, Dhaka-1211 -, Siddheswari circular road, Manhattan
wer(6th floor), Malibagh, Dhaka-1217. -
, Moulana Mufti Din Mohammad Sarak,lbagh -, Kamol Daha road (Urdo Road), Lalbagh,
haka. 27,835, J N Shaha Road, Lalbagh Dhaka-1211 74,9504, Elephant Road, Dhaka-1205 334,4003/1 Water Works Road, Chawk-Bazar, Dhaka-11
386,852
3/134, Begun Bari, Tejgaon 1/A, Dhaka-1208 127,8959/1, Gulbagh, Malibagh, Dfhaka-1217 172,3158/2 Water Works Road, Dhaka 5,8000/1, Fakirapool Panir Tankir Goli, (2nd floor),otijheel, Dhaka-1000.
100,858
use-23, Road-09, Block-M, Banoshree,mpura, Dhaka.
311,500
3, Kalubogor (Hazari Bag), Barebad, Dhaka. 271,4267/2, Borobag, Kathaltola, Mirpur-2 Dhaka-16
209,050
B, Ring Tower, Ring Road, Probal Housing, 32-, 7th Floor, Mohammadpur Dhaka-1207 -1 Nimtoly anandabazar Fulbari Dhaka 50,000ograpara College Road Sonargaon Narayangonj 13,5252, Ishwar Chandra Ghosh Street, Dhaka -1100 -, Hosni Dalan Road, Bakshi Bazar, Lalbagh -/1, Haider Box Lane, Urda Road -
Taka 2,086,406
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11.02.2016
Balance as on30.06.2015
Subsequentbalance as on11.02.2016
652,950 -
700 -22,700 -
1,631,340 -
173,500 -
126,830 126,830450 -
65,016 -
- -349,350 -99,960 -
- -
250,504 -
- -32,550 -
132,600 -
237,225 131,000- -
268,254 -498,516 225,630
- -55,220 -
4,597,665 483,460
10. Subsequent payment status of30.06.2015 The company paid the TDS for dividend Tk. 543,000 in the government treasury duly.
11. Details of as shown in note-17.01 bad debt on 30.06.2015
S/L Name of Parties
1 Abdul Kader, Kustia2 Anika Feed, Khulna
3 Rustom Traders, Kathia Satkhira
Total
Two parties named M/s. Abdul Kader and M/s. Anika feeds have closed their business due to loss and their business address also not found further. Since the company failed to trace them, the receivable amount Tk. 276,944 ( two lac seventy six thousand nine Traders claimed that the few goods of one consignment were found spotted values Tk. 76,795 (seventy six thousand seven hundred ninety five) among the various consignments . After verification tthe authenticity against his claim and the company declared the said quantities goods as bad debt and took decision to written of the said amount.
12. Discloser regarding Workers Profit Participation Fund as shown The company has established a Worker’s Profit Participation Fund and a Workers’ Welfare Fund to comply the section 234 and constituted a Board of Trustees as per section 235 of Labor (Amendment) Act, 2013. amount deposited in the participation fund were distributed to the workers as per section 242 and as per section 240 clause 11 the board of trusty invested the fund in saving certificate.
13. Detail break up of cash received from customers and financial statements for the year ended 30 June 2015
SL.1 Received from Customer2 Other: Bank Interest on FDR in Ala Arafah Islami Bank
14. Detail break up of cash payment to suppliers, employee and otheraudited financial statements for the year ended 30 June 2015
SL.1 Supplier2 Employee2 Other: Workers Profit Participation Fund
15. Detail of the payment of dividend In the fourteenth Annual General Meeting (AGM) of Yeakin Polymer Ltd. held on 30th Decembthe year 2013-2014 it was resolved that 5% cash dividend to be paid other than sponsor, directors and shareholders who will refrained from taking dividend forever for this period. Detail are given in the following way
SL. No. of shareholders
Categoryshareholders
1 7 Sponsors and Directors2 22 General
TotalDividend took by the following no. of shareholders:
SL. No. of shareholders
Category of shareholders
1 34 General Total
f TDS for dividend shown in note 17 of audited financial statements as on
vidend Tk. 543,000 in the government treasury duly.
7.01 bad debt written off audited financial statements as
Amount of bad debt written off (in tk.)
Date of the goods sold
102,000.00 23.01.11174,944.00 05.06.11
76,795.00 10.11.10
353,739.00
ader and M/s. Anika feeds have closed their business due to loss and their urther. Since the company failed to trace them, the receivable amount Tk. sand nine hundred forty four ) only have been written off and M/S Rustom
ds of one consignment were found spotted values Tk. 76,795 (seventy six ve) among the various consignments . After verification tand the company declared the said quantities goods as bad debt and took unt.
Profit Participation Fund as shown note 18 of audited financial statementsWorker’s Profit Participation Fund and a Workers’ Welfare Fund to comply
Board of Trustees as per section 235 of Labor (Amendment) Act, 2013. ation fund were distributed to the workers as per section 242 and as per
of trusty invested the fund in saving certificate.
ed from customers and other shown in cash flows statement in the audited nded 30 June 2015
Particulars
FDR in Ala Arafah Islami BankTotal Taka
ent to suppliers, employee and other shown in cash flows statement in the e year ended 30 June 2015
Particulars
rticipation FundTotal
nd shown in cash flow statement for the year ended 30 June 2015Meeting (AGM) of Yeakin Polymer Ltd. held on 30th Decemblved that 5% cash dividend to be paid other than sponsor, directors and
d from taking dividend forever for this period. Detail are given in the
ory of olders Shareholdings Paidup Capital
(in Tk.) d Directors 5,740,000 57,400,000
7,367,500 73,675,000 13,107,500 131,075,000
of shareholders:
Shareholdings Paidup Capital ( in Tk.)
10,860,000 108,600,000 10,860,000 108,600,000
Page | 187
ancial statements as on
as
ss due to loss and their receivable amount Tk.
en off and M/S Rustom k. 76,795 (seventy six on the company found s as bad debt and took
d financial statementsWelfare Fund to comply ndment) Act, 2013. The section 242 and as per
atement in the audited
Amount (in Tk.)391,058,684.00
1,452,089.00392,510,773.00
flows statement in the
Amount ( in Tk.)316,961,855.00
19,440,947.003,004,259.00
339,407,061.00
30 June 2015th December 2014 for sponsor, directors and etail are given in the
Dividend
2,870,000 3,683,750 6,553,750
Dividend
5,430,000 5,430,000
16. Details of related party transection shown in the audited financial statement for the year ended 30 June 2015Related Party Transaction in note 32 of Audited Financial Statement for the year ended 30 June 2015 will be replaced in the following way:
SL. Name of the related Parties Relationship
1Satkhira Feed Industries Limited
Common Director
2 M/S R R enterprise
Proprietor (Quazi Anwarul Haque, Chairman of Yeakin Polymer Limited.)
17. Month wise gross sales and amount of VAT for the year ended 30 June 2015Name of Month Amount of Gross Sales
(in TK.)Jul-14
Aug-14Sep-14Oct-14Nov-14Dec-14Jan-16Feb-16Mar-16Apr-16May-16Jun-16Total
18. Disclosure regarding TAX HolidayThe company enjoyed TAX Holiday Facilities from 01 July 2003 to 30 June 2010 for seven years.
Dated: 24th March, 2016
n shown in the audited financial statement for the year ended 30 June 2015of Audited Financial Statement for the year ended 30 June 2015 will be replaced in
hip Nature of Transection
Opening Balance as
on 01.07.2014
Transection during Year
Realization/P
Finished Goods sale 3,836,463 10,555,690 13,315,568
warul
fmer
Raw Materials Purchase
- 11,752,198 10,120,858
mount of VAT for the year ended 30 June 2015of Gross Sales n TK.)
Amount of VAT (in TK.) Net Sales (
36,598,934 4,773,77436,930,088 4,816,96835,436,273 4,622,12336,104,618 4,709,29835,724,601 4,659,73137,599,809 4,904,32339,677,065 5,175,26941,264,148 5,382,28042,586,717 5,554,78944,702,829 5,830,80447,559,577 6,203,42348,723,437 6,355,231
482,908,095 62,988,012
lidayay Facilities from 01 July 2003 to 30 June 2010 for seven years.
C
Page | 188
nded 30 June 20152015 will be replaced in
alization/Payment
Closing Balance as
on 30.06.2015
3,315,568 1,076,585
0,120,858 1,631,340
et Sales (in Tk.)
31,825,16032,113,12030,814,15031,395,32031,064,87032,695,48634,501,79635,881,86837,031,92838,872,02541,356,15442,368,206
419,920,083
even years.
Sd/-ARTISAN
Chartered Accountants
Date: 29 March, 2016
This is to certify that, as per provision of the Companies Act 1994, Cost Audit by Professional Accountant is not applicable for “Yeakin Polymer Limited”.
Sd/- SS M Akter Kabir
Managing Director Yeakin Polymer Limited
ABM Mahmudul HasanChief Financial OfficerYeakin Polymer
STATEMENT REGARDING COST AUDIT
on of the Companies Act 1994, Cost Audit by Professional Accountant is r Limited”.
d/- Sd/-mudul Hasanncial Officerymer Limited
Md. Salauddin Sikder FCMACEO & Managing Director Imperial Capital Limited
MChief Executive Officer (C.C
FAS Capital Management Limited
Page | 189
sional Accountant is
Sd/-Md. Shahidul AlamExecutive Officer (C.C.) ital Management Limited