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

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

RECORDS TOWARDS THE RECORDS FOR THE 12 MONTHS ENDED JUNE 30, 2003
3. MONEY AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS RECORDS IS ACQUIRED AT RATES WHICH RANGE FROM 2 percent TO 5 percent
4. SHORT-TERM LOANS 4.1. These loans that are represent clients for a time period of as much as a year on mark-up basis and they are guaranteed by means of lien on Certificates of Investment. The rate of mark-up ranges from 14% to 21.5percent per year.

4.2. These generally include money market placements with different banking institutions as well as other institutions that are financial. Return on these placements ranges from 5% to 13per cent.
5. OPPORTUNITIES through the year that is current the organization offered four federal federal federal government securities for Rs 182.288 million. The cost that is amortised of government securities was Rs 159.394 million while the revenue in the disposal of the securities amounted to Rs 22.894 million.

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

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

This investment has now been reclassified as ‘held for trading’ and it is calculated at reasonable value. An increase of Rs 12.946 million happens to be credited into the loss and profit account in respect with this investment. There aren’t any financial assets classified as ‘held to readiness’ at June 30, 2003.

5.1. INFORMATION ON ASSETS IN SHARES/CERTIFICATES OF LISTED COMPANIES/MODARABAS 6. THE RETURN ON INDEXED TERM FINANCE CERTIFICATES RANGES FROM 12 per cent TO 18 per cent
7. ADVANCES, DEPOSITS, PREPAYMENTS ALONG WITH OTHER RECEIVABLES 7.1. The utmost aggregate amount due through the executive that is chief professionals by the end of any month throughout the year ended up being Rs 873,685 (2002: Rs 623,685) and Rs 81,302 (2002: Rs 229,232) correspondingly.
7.2. SUPPLY FOR ANY OTHER RECEIVABLES 8. LONG-TERM LOANS – CONSIDERED GOOD The above loans consist of a sum of Rs 6,668 (2002: Rs 936,200) outstanding for a time period of significantly more than 36 months.

These loans happen supplied to workers for sale of motor vehicles and get of household and generally are repayable between three to 10 years. Mark-up on these loans is charged at rates including 2 per cent to 6 percent per year.

The utmost aggregate amount due through the leader and professionals at the conclusion of any thirty days throughout the year had been Rs 864,200 (2002: Rs 1,728,200) and Rs 398,847 (2002: Rs 172,538) correspondingly.
9. Web INVESTMENT IN LEASES 9.1. The above mentioned includes the term that is following Certificates issued by Pakland Cement Limited (PCL) under a scheme of arrangement sanctioned by the tall Court of Sindh against rent facilities awarded by the business: 9.2. THE INNER RATE OF RETURN ON LEASE CONTRACTS RECEIVABLE CHIEFLY ARE PRICED BETWEEN 9% TO 20% PER YEAR
9.3. MINIMAL LEASE PAYMENTS RECEIVABLE 9.4. SUPPLY FOR POTENTIAL LEASE LOSSES 10. FIXED ASSETS 11. FUNDS BELOW MARK UP ARRANGEMNETS 11.1. The facilities designed for short-term finance amounted to Rs 85 million (2002: Rs 75 million) and carry mark-up which range from Re 0.0890 to Re 0.0945 per Rs 1,000 each day. These facilities are repayable on different times by August 15, 2003.

As well as this a facility that is un-utilised operating finance available from a commercial bank amounted to Rs 50 million (2002: Nil). The price of mark-up with this finance is Re 0.3014 per Rs 1,000 each day. The acquisition pricing is payable by June 30, 2003.
12. CREDITORS, ACCRUED ALONGSIDE LIABILITIES 12.1. Amount as a result of Saudi Pak Industrial and Agricultural Investment Company (Private) Limited, an undertaking that is associated at the season end amounted to Rs 3,940 (2002: Rs 514,783).
13. LONG-TERM DEPOSITS These security that is represent gotten from lessees under rent agreements and so are adjustable on expiry associated with particular rent durations.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up rates on these funds depend on the yield on treasury bills/SBP discount rates and therefore are modified on half https://personalloancolorado.com annual foundation.

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

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

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

14.3. Term Finance Certificates II are guaranteed by a primary and exclusive cost over certain present and future leased assets and their associated receivables.
15. CERTIFICATES OF INVESTMENT

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

These certificates of investment are for durations including three months to 5 years and return on these certificates varies from 5.00 to 7.50 per cent per year. Present maturity of long-lasting certificates of investment amounting to Rs. 110,732,000 (2002: Rs 88,163,000) is roofed liabilities that are undercurrent short-term certificates of investment.
16. ISSUED, SUBSCRIBED AND PAID-UP-CAPITAL The Authorised Share Capital as at June 30, 2003 quantities to Rs. 400,000,000 (2002: 400,000,000) divided in to 40,000,000 (2002: 40,000,000) ordinary shares of Rs. 10 each.
17. RESERVES 17.1. The contingency book happens to be developed in respect for the need raised by the Wealth Tax Officer for business resource Tax of Rs 2,000,000 combined with the extra taxation of Rs 557,589. The business has filed a writ petition into the tall Court of Sindh from this need.

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

17.3. The reserve for deferred taxation is produced as per certain requirements associated with the Circular No. 16 given by the Securities and Exchange Commission of Pakistan on September 9,1999.

The liability that is unrecognised of business for deferred taxation as at June 30, 2003 quantities to Rs Nil (2002: Rs 16.284 million).
18. COMMITMENTS 19. MONEY FROM FINANCE LEASE OPERATIONS 20. MONEY ON ASSETS 21. DIFFERENT MONEY 22. FINANCIAL ALONG WITH OTHER CHARGES 23. ADMINISTRATIVE AND OPERATING COSTS 23.1. SALARIES, ALLOWANCES AND BENEFITS INCLUDE RS. 1,533,473 (2002: RS 1,230,807) IN RESPECT OF STAFF BENEFITS that are RETIREMENT. DIRECT PRICE OF OPERATING LEASES 25. TAXATION

The taxation fee when it comes to present year represents minimal fee at 0.5per cent of revenues.
26. STAFF PENSION GRATUITY

The newest actuarial valuation associated with gratuity investment had been performed as at June 30, 2003. The reasonable value regarding the fund’s assets and liabilities in the valuation date that is latest were the following: Projected Unit Credit Method using listed here significant assumptions ended up being useful for the valuation for the Fund: 26.1. The price of opportunities created by the employees your your retirement funds operated by the organization depending on their audited records as at June 30, 2003 can be follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The aggregate amount charged within these makes up about remuneration including all advantages, to your Chief Executive and Executives is really as follows: Certain professionals are supplied with free utilization of business maintained automobiles.

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

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

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