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

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

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

4.2. Included in these are cash market placements with different banks along with other institutions that are financial. Return on these placements ranges from 5% to 13per cent.
5. ASSETS throughout 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 federal government securities ended up being Rs 159.394 million therefore the profit regarding the disposal of the securities amounted to Rs 22.894 million.

The administration chose to offer these securities so that you can realise the gain arising on these securities beneath the interest rate environment that is reduced.

As at June 30, 2003 the investment that is remaining of business in federal government securities amounted to Rs 52.634 million.

This investment has been reclassified as ‘held for trading’ and it is calculated at reasonable value. An increase of Rs 12.946 million is credited to your loss and profit account in respect of the investment. There are not any assets that are financial as ‘held to readiness’ at June 30 payday loans michigan, 2003.

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

These loans have now been supplied to workers for sale of cars and get of household and generally are repayable between three to 10 years. Mark-up on these loans is charged at prices which range from 2 per cent to 6 percent per year.

The utmost aggregate amount due through the executive that is chief professionals at the conclusion of any thirty days through 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 following Term Finance Certificates issued by Pakland Cement Limited (PCL) under a scheme of arrangement sanctioned by the tall Court of Sindh against rent facilities awarded by the company: 9.2. THE INNER PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE MAINLY START AROUND 9% TO 20per cent PER YEAR
9.3. MINIMAL LEASE PAYMENTS RECEIVABLE 9.4. SUPPLY FOR POTENTIAL LEASE LOSSES 10. FIXED ASSETS 11. FUNDS UNDER MARK UP ARRANGEMNETS 11.1. The facilities readily available 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.

Along with this an un-utilised center for 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 30, 2003 june.
12. CREDITORS, ACCRUED ALONGSIDE LIABILITIES 12.1. Amount as a result of Saudi Pak Industrial and Agricultural Investment Company (Private) Limited, an associated undertaking, at the season end amounted to Rs 3,940 (2002: Rs 514,783).
13. LONG-TERM BUILD UP These express security deposits gotten from lessees under rent agreements and are usually adjustable on expiration for the respective rent durations.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up rates on these funds derive from the yield on treasury bills/SBP discount rates and are usually modified on half basis that is yearly.

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

14.2. LIABILITY ACCORDING OF TERM FINANCE Transaction expense incurred on dilemma of Term Finance Certificates II was adjusted from the associated liability prior 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 charge that is exclusive certain current and future leased assets and their associated receivables.
15. CERTIFICATES OF INVESTMENT

The business has given certificates of investment underneath the authorization provided 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 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 30, 2003 amounts to Rs. 400,000,000 (2002: 400,000,000) divided into 40,000,000 (2002: 40,000,000) ordinary shares of Rs. 10 each june.
17. RESERVES 17.1. The contingency book happens to be produced in respect associated with need raised by the riches Tax Officer for business Asset Tax of Rs 2,000,000 together with the extra income tax of Rs 557,589. The organization has filed a writ petition into the tall Court of Sindh against this need.

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

17.3. The reserve for deferred taxation is developed according to the requirements associated with the no. This is certainly circular released by the Securities and Exchange Commission of Pakistan on September 9,1999.

The liability that is unrecognised of business for deferred taxation as at June 30, 2003 quantities to Rs Nil (2002: Rs 16.284 million).
18. COMMITMENTS 19. MONEY FROM FINANCE LEASE OPERATIONS 20. MONEY ON OPPORTUNITIES 21. OTHER MONEY 22. FINANCIAL AS WELL AS 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 WORKING LEASES 25. TAXATION

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

The most recent actuarial valuation for the gratuity investment had been performed as at June 30, 2003. The reasonable value associated with fund’s assets and liabilities during the latest valuation date had been the following: Projected Unit Credit Method using the next significant assumptions had been employed for the valuation of this Fund: 26.1. The price of assets produced by the employees your retirement funds operated by the organization depending on their accounts that are audited at June 30, 2003 is really as follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The aggregate quantity charged in these makes up about remuneration including all advantages, towards the Chief Executive and Executives is really as follows: Certain professionals are given with free usage of business maintained automobiles.

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

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

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