Crescent Standard Modaraba’s financial results for the year ended June 30, 2011
Karachi: We are please to inform you that the Board of Directors of B.R.R. Investments (Pvt.) Limited Manager of Crescent Standard Modaraba (CSM) in their meeting on held Friday, September 30, 2011 at 11:00 a.m. at 1900-B, Saima Trade Towers, I.I. Chundrigar Road, Karachi and recommended the following:
(i) Cash Dividend
It has been approved by the Board of Directors to issue cash dividend of Re. 0.12 per Modaraba Certificate i.e. 1.20%
(ii) Bonus Issue Nil
(iii) Right Shares Nil
(iv) Any other entitlement/ Corporation Action Nil
(v) Any other price sensitive information Nil
The Financial Results of CSM is enclosed.
The Annual Review Meeting of Crescent Standard Modaraba will be held on October 24, 2011 at 4:00 p.m. at 1900-B, Saima Trade Towers, I.I. Chundrigar Road, Karachi.
The Certificate Transfer Books of the Modaraba will be closed from October 18, 2011 to October 24, 2011 (both days inclusive) the Transfers received at the Registrar Office, F.D. Registrar Services (SMC-Pvt) Ltd at 1108, 11th Floor, Trade Centre I.I. Chundrigar Road, Karachi, at the close of business on October 17, 2011 will be treated in time for the purpose of above entitlement to the transferees.
Crescent Standard Modaraba Profit and Loss Account For the year ended June 30, 2011
|Income on musharaka and murabaha finance||7,064,824||3,979,451|
|Income on short-term investments – net||20||472,699||7,002,800|
|Income on bank balances||2,180,808||2,035,047|
|Depreciation on Ijarah assets||3,964,555||347,384|
|Administrative and operating expenses||21||5,242,346||5,827,627|
|Modaraba management company’s fee||24||(569,805)||(558,246)|
|Workers’ Welfare Fund||22||(102,565)||(154,901)|
|Profit Before Taxation|
|Provision for taxation||25||–||–|
|Profit for the year||5,025,679||5,024,212|
|Other Comprehensive Income|
|Deficit on revaluation of|
|Available for sale investments||(104,875)||(265,719)|
|Total Comprehensive Income for the year||4,920,804||4,758,493|
|Earnings per Certificate – Basic and Diluted||26||0.25||0.25|
The annexed notes from 1 to 36 form an integral part of these financial statements.
For more information, contact:
Crescent Standard Modaraba
Chundrigar Road, 1500-A
Saima Trade Towers,
I.I. Chundrigar Road,