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

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

RECORDS INTO THE RECORDS 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 percent TO 5 per cent
4. SHORT-TERM LOANS 4.1. These loans that are represent clients for a time period of as much as 12 months on mark-up basis and therefore are 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 various banking institutions and other banking institutions. Return on these placements ranges from 5% to 13per cent.
5. OPPORTUNITIES throughout the present 12 months, the business offered four government securities for Rs 182.288 million. The cost that is amortised of government securities had been Rs 159.394 million and also the revenue regarding the disposal among these securities amounted to Rs 22.894 million.

The administration made a decision to offer these securities so that you can realise the gain arising on these securities beneath the reduced rate of interest environment.

As at June 30, 2003 the staying investment regarding the business in federal federal 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 was credited to your revenue and loss account in respect for 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. IMPROVEMENTS, BUILD UP, 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) correspondingly.
7.2. SUPPLY FOR ANY OTHER RECEIVABLES 8. LOANS that are LONG-TERM CONSIDERED GOOD The above loans consist of a quantity of Rs 6,668 (2002: Rs 936,200) outstanding for a time period of a lot more than three years.

These loans have already been supplied to workers for sale of cars https://samedayinstallmentloans.net and buy of house and generally are repayable between three to 10 years. Mark-up on these loans is charged at prices including 2 per cent to 6 percent per annum.

The utmost aggregate amount due through the leader and professionals at the conclusion of any thirty days throughout the 12 months was 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 aforementioned 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 given by the business: 9.2. THE INTERIOR PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE CHIEFLY VARY FROM 9% TO 20per cent YEARLY
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 designed for short-term finance amounted to Rs 85 million (2002: Rs 75 million) and carry mark-up which range from Re 0.0890 to Re 0.0945 per Rs 1,000 each day. These facilities are repayable on different times by 15, 2003 august.

Along with this a facility that is un-utilised operating finance 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 AS WELL AS OTHER LIABILITIES 12.1. Amount as a result of Saudi Pak Industrial and Agricultural Investment Company (Private) Limited, an undertaking that is associated at the entire year end amounted to Rs 3,940 (2002: Rs 514,783).
13. LONG-TERM BUILD UP These security that is represent gotten from lessees under rent agreements and are also adjustable on expiration associated with the particular rent durations.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up rates on these funds are derived from the yield on treasury bills/SBP discount rates and are also 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 prices of this five year Pakistan Investment Bonds (PIBs), consequently they are modified on half-yearly foundation.

14.1. The facilities are guaranteed by hypothecation of certain leased assets and associated lease rentals. The facilities were utilised for disbursement against leasing contracts executed by the organization.

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 economic liabilities specified in Global Accounting Standard 39, ‘Financial Instruments: Recognition and Measurement’.

14.3. Term Finance Certificates II are guaranteed by an initial and exclusive fee over certain current and future leased assets and their associated receivables.
15. CERTIFICATES OF INVESTMENT

The organization has released certificates of investment beneath the authorization given by the government.

These certificates of investment are for periods which range from a few months to five years and return on these certificates varies from 5.00 to 7.50 per cent per year. Present readiness of long-lasting certificates of investment amounting to Rs. 110,732,000 (2002: Rs 88,163,000) is roofed undercurrent liabilities in 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 for the need raised by the Wealth Tax Officer for Corporate resource Tax of Rs 2,000,000 combined with the tax that is additional of 557,589. The organization has filed a writ petition when you look at the High Court of Sindh from this need.

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

17.3. The reserve for deferred taxation is developed according to what’s needed regarding the no. That is circular given by the Securities and Exchange Commission of Pakistan on September 9,1999.

The liability that is unrecognised of company 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. OTHER 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) ACCORDING OF STAFF RETIREMENT ADVANTAGES
24. DIRECT PRICE OF WORKING LEASES 25. TAXATION

The income tax fee for the year that is current minimal cost at 0.5% of revenues.
26. STAFF RETIREMENT GRATUITY

The most recent actuarial valuation associated with the gratuity investment had been performed as at June 30, 2003. The fair value for the fund’s assets and liabilities at the valuation date that is latest had been the following: Projected Unit Credit Method using listed here significant assumptions had been employed for the valuation of this Fund: 26.1. The expense of assets produced by the employees your your retirement funds operated by the business according to their audited records as at June 30, 2003 can be as follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The aggregate quantity charged during these makes up about remuneration including all advantages, to your Chief Executive and Executives is really as follows: Certain executives are supplied with free usage of business maintained vehicles.

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

Leave encashment can be payable to him according to the terms of his work agreement.
29. PROFITS PER SHARE 30. MONEY GENERATED FROM OPERATIONS 31. CASH AND CASH EQUIVALENTS

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