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

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

RECORDS INTO THE RECORDS FOR THE ENDED JUNE 30, 2003
3 year. MONEY AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS RECORDS IS ACQUIRED AT RATES INCLUDING 2 per cent TO 5 percent
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 generally 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. These generally include cash 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. ASSETS through the present 12 months, the organization offered four federal federal government securities for Rs 182.288 million. The cost that is amortised of federal federal federal government securities ended up being Rs 159.394 million as well as the revenue from the disposal of those securities amounted to Rs 22.894 million.

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

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

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

5.1. INFORMATION ON ASSETS IN SHARES/CERTIFICATES OF LISTED COMPANIES/MODARABAS 6. THE RETURN ON LISTED TERM FINANCE CERTIFICATES RANGES FROM 12 percent TO 18 percent
7. IMPROVEMENTS, BUILD UP, PREPAYMENTS ALONG WITH OTHER RECEIVABLES 7.1. The utmost aggregate amount due through the leader and 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. LONG-TERM LOANS – CONSIDERED GOOD The above loans consist of a sum of Rs 6,668 (2002: Rs 936,200) outstanding https://myinstallmentloans.net for a time period of significantly more than 36 months.

These loans have now been supplied to workers for purchase of motor vehicles and get of home 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 leader and professionals at the conclusion of any thirty days through the 12 months 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 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 INNER PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE MAINLY RANGE BETWEEN 9% TO 20per cent 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 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 15, 2003 august.

As well as 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 ALONG WITH 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 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 of this respective rent durations.
14. REDEEMABLE CAPITAL – (NON-PARTICIPATORY) *The mark-up prices on these funds derive from the yield on treasury bills/SBP discount rates and are usually modified on half annual foundation.

The mark-up prices on these funds derive from the weighted average associated with final three cut-off prices of this five 12 months Pakistan Investment Bonds (PIBs), and are usually modified on half-yearly basis.

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 expense incurred on dilemma of Term Finance Certificates II happens to be modified through the associated liability relative to the criteria for initial recognition of monetary liabilities specified in Global Accounting Standard 39, ‘Financial Instruments: Recognition and Measurement’.

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

The business has released certificates of investment underneath the authorization provided because of the government.

These certificates of investment are for durations which range from a couple of 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 included undercurrent liabilities in 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) split into 40,000,000 (2002: 40,000,000) ordinary shares of Rs. 10 each.
17. RESERVES 17.1. The contingency book was produced in respect associated with need raised by the riches Tax Officer for business Asset Tax of Rs 2,000,000 combined with tax that is additional of 557,589. The business has filed a writ petition into the tall Court of Sindh from this demand.

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

17.3. The reserve for deferred taxation was developed according to certain requirements associated with the no. That is circular granted 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. INCOME FROM FINANCE LEASE OPERATIONS 20. MONEY ON ASSETS 21. DIFFERENT MONEY 22. FINANCIAL ALONGSIDE 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 BENEFITS that are RETIREMENT. DIRECT PRICE OF WORKING LEASES 25. TAXATION

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

The newest valuation that is actuarial of gratuity investment had been performed as at June 30, 2003. The reasonable worth regarding the fund’s assets and liabilities during the latest valuation date were the following: Projected Unit Credit Method using listed here significant assumptions had been useful for the valuation regarding the Fund: 26.1. The price of assets created by the employees retirement funds operated by the business according to their audited reports as at June 30, 2003 can be follows: 27. TRANSACTIONS WITH ASSOCIATED UNDERTAKINGS 28. REMUNERATION OF CHIEF EXECUTIVE AND EXECUTIVES

The aggregate quantity charged within these makes up about remuneration including all advantages, into the Chief Executive and Executives is really as follows: Certain executives are supplied with free utilization of company maintained vehicles.

The aforementioned remuneration of leader relates to the ex-Chief Executive Officer associated with company whom ceased to put on office w.e.f. April 30, 2003.

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

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