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

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

NOTES TOWARDS THE RECORDS FOR THE 12 MONTHS ENDED JUNE 30, 2003
3. CASH 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 express loans to 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 21.5percent per year.

4.2. Included in these are cash market placements with different banking institutions as well as other institutions that are financial. Return on these placements ranges from 5% to 13percent.
5. ASSETS throughout the current 12 months, the organization offered four federal federal federal government securities for Rs 182.288 million. The amortised price of these federal federal government securities ended up being Rs 159.394 million plus the revenue regarding the disposal of those securities amounted to Rs 22.894 million.

The administration chose to sell these securities so that you can realise the gain arising on these securities underneath the reduced rate of interest environment.

As at June 30, 2003 the remaining investment associated with the 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 happens to be credited towards the loss and profit account in respect with this investment. There are not 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 percent TO 18 per cent
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 include a sum of Rs 6,668 (2002: Rs 936,200) outstanding for a time period of a lot more than three years.

These loans happen supplied to workers to buy of cars and get of household and therefore are repayable between three to 10 years. Mark-up on these loans is charged at rates which range from 2 percent to 6 percent per year.

The utmost aggregate amount due from the executive that is chief executives 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 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 issued because of the business: 9.2. THE INTERIOR PRICE OF RETURN ON LEASE CONTRACTS RECEIVABLE CHIEFLY COVER ANYTHING FROM 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 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 an un-utilised center for operating finance offered by 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 associated undertaking, at the entire year 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 therefore are adjustable on expiration for the particular 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 they are modified on half annual foundation.

The mark-up prices on these funds depend on the average that is weighted of final three cut-off rates of this five 12 months Pakistan Investment Bonds (PIBs), and are also modified on half-yearly foundation.

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

14.2. LIABILITY IN RESPECT OF TERM FINANCE Transaction price incurred on dilemma of Term Finance Certificates II happens to be modified through the related 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 business has released certificates of investment beneath the permission awarded by the authorities.

These certificates of investment are for durations including a few months to five years and return on these certificates ranges 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 undercurrent liabilities in short-term certificates of investment.
16. ISSUED, SUBSCRIBED AND PAID-UP-CAPITAL The Authorised Share Capital as at June 30, 2003 amounts to Rs. 400,000,000 (2002: 400,000,000) divided in to 40,000,000 (2002: 40,000,000) ordinary stocks of Rs. 10 each.
17. RESERVES 17.1. The contingency book happens to be developed in respect for the need raised by the riches Tax Officer for business Asset Tax of Rs 2,000,000 together with the extra taxation of Rs 557,589. The business has filed a writ petition when you look at 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 business of Leasing.

17.3. The reserve for deferred taxation was produced according to certain requirements for the Circular No. 16 granted by the Securities and Exchange Commission of Pakistan on September 9,1999.

The unrecognised liability associated with business for deferred taxation as at June 30, 2003 amounts to Rs Nil (2002: Rs 16.284 million).
18. COMMITMENTS 19. MONEY FROM FINANCE LEASE OPERATIONS 20. MONEY ON OPPORTUNITIES 21. DIFFERENT MONEY 22. FINANCIAL AS WELL AS OTHER CHARGES 23. ADMINISTRATIVE AND OPERATING EXPENSES 23.1. SALARIES, ALLOWANCES AND BENEFITS INCLUDE RS. 1,533,473 (2002: RS 1,230,807) IN RESPECT OF STAFF RETIREMENT ADVANTAGES
24. DIRECT PRICE OF WORKING LEASES 25. TAXATION

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

The most recent valuation that is actuarial of gratuity investment had been completed as at June 30, 2003. The reasonable worth of this fund’s assets and liabilities during the valuation date that is latest had been the following: Projected Unit Credit Method using the following significant assumptions had been useful for the valuation associated with the Fund: 26.1. The price of assets produced by the employees your your your retirement funds operated by the business depending on their audited records as at June 30, 2003 is really 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, 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 pertains to the ex-Chief Executive Officer for the business whom ceased to put up workplace w.e.f. 30, 2003 april.

Keep encashment can also be guaranteed installment loans review payable to him depending on the regards to their work agreement.
29. PROFITS PER SHARE 30. MONEY GENERATED FROM OPERATIONS 31. CASH AND MONEY EQUIVALENTS