REPORT OF THE DIRECTORS

Size: px

Start display at page:

Download "REPORT OF THE DIRECTORS"

Patience Rogers
5 years ago
Views:

1 REPORT OF THE DIRECTORS Dear Shareholders, The Directors are pleased to submit to you the Annual Report together with the Auditors Report and Audited Financial Statements of the Company for the year ended 30 th June, The Directors Report is prepared in compliance with Section 184 of the Companies Act 1994 and Bangladesh Securities and Exchange Commission s (BSEC) notification no- SEC/CMRRCD/ /134/Admin/44 dated 07th August (i) Industry outlook and possible future developments in the industry: A few key countries, like China, are at the epicentre of contributing to global fish supply. Yet other regions, like Southeast and South Asia, also have a major role to play. One of the key factors of China s success in maintaining a highly productive aquaculture sector is that it has maintained a national extension system for aquaculture that has continued widespread outreach to producers through well-trained and qualified staff. More than 80 percent of global aquaculture production is produced by small- to medium-scale enterprises that are heavily concentrated in Asia. As consumer demand for fine cuisine and international flavours has grown, so have the opportunities for food export. Frozen foods are the second largest source of foreign exchange earnings. The shrimp industries have been contributing on average approximately 4.43 per cent of the GDP, it could go up to 10 per cent and has generated about 12 million direct and indirect employments. Out of total frozen food export, shrimp alone contributes approximately 90 per cent. During July-March period of fiscal year, the earning from export of frozen foods is US$ million against the target of US$ million. This is mainly due to average fall of price of 30 to 40% in the international market and so far there is no improvement of the situation. As a result the turnover decreased significantly compared to that of last year. Bangladesh is yet to reach yield levels per hectare as Thailand, India etc. To develop the industry requires more widespread compliance and training requirements - a traceability system addressing needs & capacities of small-scale producers needed to compete in higher-value markets. What we need now is to build up proper facilities to facilitate the export growth cold chain facilities, development of supporting facilities, space to increase and diversify exports, etc. (ii) Segment-wise or product-wise performance: As Apex Foods Limited produces only shrimp there is no scope for Product wise performance reporting. However, country wise export details are given in note 19 of the Annual Report. (iii) Risks and concerns: Once the single largest market for Bangladesh, US accounts for only 8 percent of the total frozen fish exports, which was about 30 percent even five years ago. Prices of Bangladeshi shrimps known as Black Tiger is higher than that of Vietnam and India s vannamei species. The sector has drawn wide criticism from international media often being accused of allowing exploitative and abusive practices, and thus pushing those working in the industry further into poverty. Fair wages and labour rights in the industry are in general key areas of concerns and have been under constant scrutiny from buyers in the EU and the US. There is evidence that inequality in this sector is widening, with women not obtaining permanent employee status and lower wage compared to male workers.

2 (iv) Analysis of Cost of Goods sold, Gross Profit Margin and Net Profit Margin: (a) Cost of Goods Sold: This year s cost of goods sold was BDT 2,532 million as compared to last year s cost of goods sold of BDT 3,547 million. This is due to decrease in gross turnover along with a decrease in average production cost of Tk.55/- per Kg. During the year 2,993,979 Kg of shrimps were produced as against last year s production of 3,725,070 Kg. Production capacity utilized during the year was 41.58%. Raw Material Purchase cost has decreased to the tune of Tk million against last year. (b) Gross Profit: The company has achieved an export turnover of Tk. 2, million during the year ended 30 th June Last year s turnover was Tk. 3, million. The decrease in turnover is 28.43% over the last year. Gross profit earned during the year was Tk million as against last year s gross profit of Tk million. (c) Net Profit: Net profit (after tax) earned during the year was Tk million as compared to last year s Net Profit (after tax) of Tk million. During the year net profit after tax has increased due to increase in Other Income, mainly profit on sale of immovable properties. (v) Extra-Ordinary gain or loss: During the year there was no realized extra-ordinary gain or loss made by the company. An amount of Tk million has been shown as Fair Value Deficit of Investment in the Statement of Comprehensive Income which represents the difference between the closing price of investment in the Shares of Apex Spinning & Knitting Mills Limited and Apex Weaving & Finishing Mills Limited and the price shown in the last Statement of Financial Position. This accounting effect was given in order to comply with the latest requirement of Bangladesh Accounting Standards (BAS) / Bangladesh Financial Reporting Standards (BFRS). Details are given in Note 11 of the Annual Report. (vi) Related party transactions: There is a transaction of sale of immovable properties (Land) measuring an area of 1, ,000/- (Net) per decimal to Apex Fashion Wear Limited made in May, There are common Directors in Apex Fashion Wear Limited. (vii) Utilization of proceeds from public issues and/ or rights issues: There was no right issue offered during the year. (viii) Financial results after the company goes for Initial Public Offering (IPO), Repeat Public Offering (RPO), Rights Offer, Direct Listing, etc.: Initial Public Offering was made on June 22, 1981 and subsequently Right Offer was made on January 11, Since then the company is performing well. (ix) Variance between Quarterly Financial performance and Annual Financial Statements: There was significant variance between quarterly performance (i.e. up to 3 rd quarter, EPS was Tk & annually it has reached Tk ) and annual financial statements. This is due to a substantial amount of profit from sale of immovable properties (Land).

3 (x) Remuneration to directors including independent directors: The remunerations of Directors including Independent Director are as follows: Name of the Directors Director / Independent Director Yearly Remuneration Mr. Zafar Ahmed Director 4,800,000 Mr. Ashim Kumar Barua Director 3,600,000 Mr. Kazi Faruq Kader Independent Director 600,000 (xi) The financial statements prepared by the management of the issuer company present fairly its state of affairs, the result of its operations, cash flows and changes in equity. (xii) Proper books of account of the issuer company have been maintained. (xiii) Appropriate accounting policies have been consistently applied in preparation of the financial statements and that the accounting estimates are based on reasonable and prudent judgment. (xiv) International Accounting Standards (IAS)/Bangladesh Accounting Standards (BAS)/ International Financial Reporting Standards (IFRS)/Bangladesh Financial Reporting Standards (BFRS), as applicable in Bangladesh, have been followed in preparation of the financial statements and any departure there-from has been adequately disclosed. (xv) The system of internal control is sound in design and has been effectively implemented and monitored. (xvi) There are no significant doubts upon the issuer company's ability to continue as a going concern. (xvii) Deviation from the last year s operating results: During the year turnover has decreased by 28.43% as compared to last year but due to increase in operational efficiency we have been able to maintain the same level of Gross Profit Ratio. Inspite of same level of Gross Profit Ratio, the Company sustained operational loss due to decrease of sales. (xviii) Key operating and financial data of at least preceding 5 (five) years: Figure in thousand Taka Particulars Operational Data: Turnover 2,751,780 3,844,681 3,305,717 3,933,346 3,207,315 2,205,550 Gross Profit 219, , , , , ,573 Operating Profit/(Loss) (53,525) 31,319 20,664 18,735 9,060 1,163 Net Profit before Tax 123,814 66,858 62,367 46,704 34,188 19,257 Net Profit/(Loss) after Tax 84,843 17,041 14,494 15,434 10,795 8,559 EPS with fair valuation surplus/(deficit) (4.11) EPS without fair valuation surplus/(deficit) Dividend Per Share Financial Data: Total Assets 1,779,947 1,693,029 1,758,653 1,571,415 1,485,155 1,136,281 Property, Plant and Equipment-Gross 678, , , , , ,659 Property, Plant and Equipment-Net 155, , , , , ,579 Gross Working Capital 1,449,240 1,320,330 1,408,553 1,222,369 1,268, ,332 Net Working Capital 344, , , , , ,037 Working Capital Loan 794, , , , , ,714 Share Capital Share Premium Reserve and Surplus 225, , , , , ,127 Share Holders Equity 622, , , , , ,239 Term Loan 82, , , , , ,211

4 (xix) Dividend: Board of Directors has recommended Cash Dividend of Tk per Share of Tk each for the year Upon your approval in this General Meeting, the dividend will be paid to the Shareholders whose names appear in the Share Registers of the Company or in the Depository as on 13 th September 2015 at the close of office. (xx) Board meetings: During the year 7 (Seven) Board Meetings were held. The attendance record of the Directors is as follows: Name of Directors Meeting attended Mr. Zafar Ahmed 07 Mr. Zahur Ahmed PhD 07 Mrs. Shawkat Ara Ahmed 01 Mr. Shahriar Ahmed 06 Mr. Ashim Kumar Barua 07 Mr. Kazi Faruq Kader 07 Mrs. Shawkat Ara Ahmed resigned from the Board on 22 nd September (xxi) The pattern of shareholding: Name wise details No. of Shares a) Parent/subsidiary/Associated companies and other related parties Apex Spinning & Knitting Mills Limited 169,250 Apex Lingerie Limited 10,800 b) Directors, Chief Executive Officer, Company Secretary, Chief Financial Officer, Head of Internal Audit: Mr. Zafar Ahmed Director 1,320,530 Mr. Zahur Ahmed PhD Director 160,740 Mr. Shahriar Ahmed Director 563,430 Mr. Ashim Kumar Barua Director 7,500 Mr. Kazi Faruq Kader Independent Director NIL Mr. S.K. Halder Chief Financial Officer NIL Mr. Ashish Kumar Paul FCA Head of Internal Audit NIL Ms. Jesmin Sultana Assistant Company Secretary NIL c) Senior Corporate Executives: Mr. Mominuddin Ahmed khan-executive Director 2,450 d) Shareholders holding ten percent (10%) or more voting interest in the Company Mr. Zafar Ahmed 1,320,530 Mrs. Shawkat Ara Ahmed 823,000

5 (xxii) Appointment/re-appointment of directors the company: (i) I, Zafar Ahmed and Mr. Kazi Faruq Kader are retiring from the Board in terms of the Articles of Association of the Company and being eligible, offer ourselves for reelection. The detailed work profiles of me and Mr. Kazi Faruq Kader are given below: Mr. Zafar Ahmed a. I am a Post Graduate from Dhaka University in Economics. I obtained training in Food & Drug Administration from USA. I am one of the Sponsor Directors of the Company and is working in this sector since I am now acting as the Chairman of the Company. b. Since my joining in this sector, I have gathered vast knowledge in this sector and is one of the experts in Frozen Foods sector of Bangladesh. c. I am also holding the Directorship of (i) Apex Spinning & Knitting Mills Limited, (ii) Apex Lingerie Limited, (iii) Apex Yarn Dyeing Limited, (iv) Apex Textile Printing Mills Limited (v) Apex Fashion Wear Limited and (vi) Matex Bangladesh Limited. d. I am not a member of any committee of the board. Mr. Kazi Faruq Kader a. Mr. Kader is a Graduate from Dhaka University. He was a Member of Parliament from 1988 to 1989 and Member of the Standing Committee for Commerce during that tenure. He was also the Member of Parliament from 2009 to He was also appointed as Director and Chairman of Sonali Bank as well as Sadharan Bima Corporation. b. Mr. Kader is the Independent Director of the Company and has sound knowledge in this sector. c. Mr. Kader is also holding the Independent Directorship of Apex Spinning & Knitting Mills Limited. d. Presently, Mr. Kader is the Chairman of the Audit Committee. (xxiii) Auditors: The retiring Auditors M/s. Hussain Farhad & Co., Chartered Accountants, being eligible, offer themselves for re-appointment as Auditors of the Company for the year (xxiv) Corporate Governance Compliance Report: In accordance with the requirement of the Bangladesh Securities and Exchange Commission, Corporate Governance Report is annexed. Dhaka 23 rd August 2015 On behalf of the Board Sd/- Zafar Ahmed Chairman

6 cwipvjkm Yi cöwz e`b wcöq kqvi nvìvimy, Avcbv `i Kv úvbxi cwipvjkmy 2015 mv ji 30 k Ryb Zvwi L mgvß wnmve erm ii evwl K cöwz e`b Gi mv _ wbix Ki cöwz e`b I wbixw Z Avw_ K weeiyx Avcbv `i m y L Dc vcb Ki Z c i Avbw `Z cwipvjbv cl `i cöwz e`b cöbq bi Î Kv úvbx AvBb 1994 Gi 184 aviv I evsjv `k wmwkdwiwur GÛ G PÄ Kwgk bi (wegmbwm) bvwuwd Kkb bs- GmBwm/wmGgAviAviwmwW/ /134/GWwgb/44 ZvwiL- AvMó 7, 2012 Abymib Kiv n q Q 1. wkí m úwk Z aviyv Ges GB wk íi fwel Z Dbœq bi m vebvt wkqz cöavb `k hgb Pvqbv we k gvq mieiv n we kl Ae`vb i L Q Ggb wk Ab vb AÂj hgb, `wÿbc~e Ges `wÿb Gwkqvi `k jvi mieiv n we kl Ae`vb ivl Q Gi g~j KviY nj Pvqbv AZ ší Drcv`bkxj grm ÿî iÿbv eÿb Ki Z mvdj AR b K i Q Gi KviY GB h Pvqbv RvZxq fv e grm ÿî iÿbv eÿ b mywkwÿz I `ÿ Kg x Øviv Drcv`bKvix `i g a e vck cöpvi cöpvibv Ae nz i L Q we k i 80 kzvs kii ekx grm Drcv`b nq QvU _ K gvsvwi D ` v³v `i Øviv hvi ekxi fvmb Gwkqv gnv ` k fv³vi Pvwn`v e w i d j DbœZ iübcªyvjx I AvšÍR vwzk ^v ` Lv` ißvbxi my hvm n e e `wkk gỳ ªv Av q wngvwqz Lv` wøzxq e nëg Drm wpswo wkí wrwwwc Z M o AvbygvwbK 4.43 kzvsk Ae`vb i L Q, Bnv 10 kzvsk ch ší h Z cv i Ges cöz ÿ I c ivÿ fv e 12 wgwjqb Kg ms vb m wó n q Q gvu wngvwqz Lv` ißvbxi AvbygvwbK 90 kzvskb wpswo ißvbxi Ae`vb A_ erm i RyjvB-gvP ch ší mg q wngvwqz Lv` ißvbx Z Avq n q Q wgwjqb gvwk b Wjvi hv jÿ gvîv wqj wgwjqb gvwk b Wjvi Gi g~j KviY GB h AvšÍR vwzk evrvi g~j M o 30 nb Z 40 kzvsk n«vm c q Q Ges GLb ch ší GB Ae vi Kvb DbœwZ nqwb hvi d j ißvbx MZeQ ii Zzjbvq D jøl hvm nv i n«vm c q Q evsjv `k GLbI _vbj vû, BwÛqv Ges Ab vb `i gz n±i cöwz Drcv`b gvîvq cšqvqwb GB wkí Dbœq bi Rb Av iv e vck AbyewZ Zv Ges cöwkÿy cö qvrb, Du P g~ j i evrvi cöwz hvwmzv Kivi Rb QvU D ` v³v `i Íi Abymv i `ÿzv e w cö qvrb GLb Avgv `i ißvbx e w i Rb cö qvrb h _v cvhy³ my hvm myweav hgb, Kvì PBb my hvm myweav, mn hvmx myweavi Dbœqb, vb e w, eûgywl ißvbx e w 2. LvZIqvwi A_ev cb wfwëk djvdjt h nzz G c dzwm& wjwg UW ïay wpswo cöwµqvkib I ißvbx K i m nzz GLv b cy wfwëk djvd ji weeiy `Iqvi Kvb my hvm bb hv nvk evwl K cöwz e` bi 19 bs bv U Avgv `i cöwzôvbwu Kvb ` k KZ ißvbx K i Q Zvi we ÍvwiZ weeiy `Iqv n q Q 3. SuywK I DwØMœZv mg~nt GK mgq evsjv ` ki Rb eo evrvi wqj hy³ivóª, ez gv b gvî 8 kzvsk wngvwqz gvq ißvbx nq hv GgbwK cuvp eqi c~ e I wqj cövq 30 kzvsk evsj ` ki wpswo huv eøvk UvBMvi bv g cwiwpz muv BwÛqv I wf qzbv gi fbvwg wpswoi P q `vwg kvlyg~jk Ges AegvbbvKi GB wkí m ú K `vlv ivc K i AvšÍR vwzk Mbgva g e vck fv e mgv jvpbv Ki Q Ges Gi d j GB wk í hviv KvR K i Zv `i K `vwi `ªi w` K wb q hv Q b vh gryix I kªg AwaKvi GB wk íi g~j D Ø Mi welq Ges G jv BDGm I BBD µzviv cöwzwbqz Mfxi ch eÿb Ki Q GB Lv Z cögvb Av Q h, elg e vck fv e cömvwiz hgb gwnjviv vqxkg Pvixi ghv `v cvqbv Ges cyiæ li Zzjbvq Kg gryix cvq

7 4. wewµz c Y i e q we køly, gvu cövwšík gybvdv Ges bxu cövwšík gybvdvt K) wewµz c Y i e q t GB ermi wewµz c Y i e q wqj 2,532 wgwjqb UvKv hv MZ ermi wqj 3,547 wgwjqb UvKv Gi Kvi Y gvu weµq nªvm c q Q mv _ M o KwR cöwz Drcv`b e q 55 UvKv nv i nªvm c q Q PjwZ ermi 2,993,979 KwR wpswo Drcv`b n q Q hv MZ ermi wqj 3,725,070 KwR PjwZ erm i Drcv`b gzvi kzvsk e eüz n q Q MZ erm ii Zyjbvq KuvPvgvj µ qi Rb wgwjqb UvKv Kg LiP n q Q L) gvu gybvdvt 30 k Ryb 2015 mgvß A_ erm i Kv úvbx gvu weµq K i Q 2, wgwjqb UvKv MZ ermi weµq wqj 3, wgwjqb UvKv MZ erm ii Zyjbvq weµq kzvsk nªvm c q Q G ermi gvu gybvdv AwR Z n q Q wgwjqb UvKv hv MZ ermi wqj wgwjqb UvKv M) bxu gybvdvt G ermi bxu gybvdv (Ki ciezx ) n q Q wgwjqb UvKv hv MZ ermi wqj wgwjqb UvKv Ab vb Avq e w i d j G ermi Ki ciezx bxu gybvdv e w c q Q, cªavbz vqx m úwë wewµi d j GB gybvdv AwR Z n q Q 5. A ^vfvwek jvf ev wzt G ermi ev ÍweK cövß Kvb A ^vfvwek jvf ev wz bb Z e wgwjqb UvKv wewb qv Mi myô g~j vq Yi d j NvUwZ mgwb Z Avq weeiyx Z `Lv bv n q Q hvnv G c w úwbs GÛ bxwus wgjm& wjwg UW Ges G c DBwfs GÛ wdwbwks wgjm& wjwg UW Gi kqv i wewb qv Mi mgvcbx g~j Ges MZ erm ii Avw_ K Ae vi weeiyx Z `Lv bv g~ j i cv_ K, GUv evsjv `k G KvDw Us vûvm & (we.g.gm) / evsjv `k dvbb vbwmqvj wi cvwu s vûvm & (we.gd.avi.gm) Abyhvqx wnmve weeiyx Z `Lv bv n q Q evwl K cªwz e` b 11 bs bv U we ÍvwiZ weeiy `Iqv n q Q 6. AvšÍt m úwk Z Kv úvbxi jb `b mg~nt G ermi GKwU jb `b i q Q hv nj G c d vkb Iq vi wjwg UW Gi wbku g 2015 Bs G vqx m úwë (Rwg), cwigvb 1,022 kzvsk, c«wz kzvsk 151,000 UvKv nv i (bxu) weµq Kiv n q Q G c d vkb Iq vi wjwg U W I GKB cwipvjk i q Q 7. cvewjk Bmÿ A_ev ivbu Bmÿ nb Z cövß Znwe ji e envit G ermi Kvb cvewjk Bmÿ A_ev ivbu Bmÿ nqwb 8. Bwbwkqvj cvewjk Advwis (AvB.wc.I), wiwcu cvewjk Advwis (Avi. wc. I), ivbu Advi, WvB i± wjw s BZ vw` _ K A_ ev Znwej cövwßi ci Kv úvbxi Avw_ K Ae v t 1981 mv ji Ryb gv mi 22 Zvwi L Bwbwkqvj cvewjk Advwis (AvB.wc.I) Ges ciez x mg q 1997 mv ji Rvbyqvix gv mi 11 Zvwi L ivbu Advi Kiv nq, Gi ci _ K Kv úvbx fv jv K i hv Q 9. evwl K Avw_ K weeiyx Ges ÎgvwmK Avw_ K Ae vi weeiyxi g a cv_ K t ÎgvwmK Avw_ K Ae vi weeiyx Ges evwl K Avw_ K weeiyx g a D jøl hvm cv_ K we` gvb (A_ vr Z Zxq KvqU vi ch ší Avw_ K cöwz e` b kqvi cöwz Avq wqj 0.27 UvKv wkš evrmwik Bnv n q Q UvKv) Gi KviY h vqx m úwë (Rwg) wewµi d j h _ô cwigvb gybvdv n q Q

8 10. ^Zš cwipvjk mn cwipvjk `i cvwikªwgkt ^Zš cwipvjk mn cwipvjk `i cvwikªwgk wbgœ iƒct- cwipvjk `i bvg cwipvjk/ ^Zš cwipvjk evrmwik cvwikªwgk Rbve Rvdi Avn g` cwipvjk 48,00,000/- Rbve Amxg Kygvi eoyqv cwipvjk 36,00,000/- Rbve KvRx dviæk Kv `i ^Zš cwipvjk 6,00,000/- 11. Kv úvbxi e e vcbv KZ c KZ K cö ZK Z Avw_ K weeiyx Z Kv úvbxi Avw_ K Ae v, Kvh µ gi djvdj, bm` cöevn, g~ja bi cwiez b mwvk fv e Dc vcb Kiv n q Q 12. Kv úvbxi wnmve ewn mg~n h_vh_ fv e msi Y Kiv n q Q 13. Avw_ K weeiyx cö wz Z h _vchy³ wnmvebxwz mg~n avivevwnk fv e cö qvm Kiv n q Q Ges wnmvemz cwigvck mg~n hywëhy³ I wep Y wm v šíi Dci cöwzwôz 14. B Uvib vkbvj G vkvdw Us vûv m (AvB.G.Gm)/evsjv `k G vkvdw Us vûv m (we.g.gm)/ B Uvib vkbvj wdb vbwmqvj wi cvwu s vûv m (AvB.Gd.Avi.Gm)/ evsjv `k wdb vbwmqvj wi cvwu s vûv m (we.gd.avi.gm) hvnv evsjv ` k cö hvr Zvnv Abymib K i Avw_ K weeibx cö Z Kiv n q Q Ges Kv_vI Kvb e Z q _vk j Zvnv h_vh_ fv e cökvk Kiv n q Q 15. Af šíixb wbqš b e e v mymsnz I Kvh Ki fv e ev Íevqb I ch e b Kiv n q Q 16. Kv úvbxi Pjgvb Aw Í Z i mvg _ i Î Kvbiƒc Zvrch c~y m ` ni AeKvk bvb 17. MZ erm ii cwipvjbmz djvd ji mwnz PjwZ erm ii e eavbt MZ erm ii Zzjbvq PjwZ erm i weµq n«vm c q Q kzvsk wkš `ÿzvi mwnz cwipvjbvi gvu jv fi AbycvZ a i ivl Z mÿg n q Q hw`i gvu jv fi AbycvwZK nvi GKB i q Q Z_vwc weµq n«v mi d j Kv úvbx e vck fv e cwipvjbmz jvkmv b c o Q 18. c~e ezx cuvp eq ii g~l cwipvjb Ges A_ bwzk DcvËt cwipvjb Z_ : weµq 2,751,780 3,844,681 3,305,717 3,933,346 3,207,315 2,205,550 gvu gybvdv cwipvjb gybvdv/ jvkmvb 219,627 (53,525) 297,878 31, ,375 20, ,517 18, ,936 9, ,573 1,163 Kicye gybvdv 123,814 66,858 62,367 46,704 34,188 19,257 KicieZ x gybvdv/ jvkmvb wewb qv Mi myô gyj vqb mn kqvi cöwz Avq 84, , ,494 (4.11) 15, ,795-8,559 - wewb qv Mi myô gyj vqb e ZxZ kqvi cöwz Avq c«wz kqv ii Rb jf vsk Avw_ K Z_ : gvu m c` mgúwë, hšîúvwz I hšîvsk- gvu 1,779, ,306 1,693, ,967 1,758, ,465 1,571, ,384 1,485, ,001 1,136, ,659 mgúwë, hšîúvwz I hšîvsk-bxu gvu PjwZ g~jab 155,017 1,449, ,963 1,320, ,421 1,408, ,409 1,222, ,324 1,268, , ,332 bxu PjwZ g~jab PjwZ g~jab FY 344, , , , , , , , , , , ,714 kqvi g~jab kqvi wc«wgqvg msi b Ges DØ Ë 225, , , , , ,127 kqvi gvwjk `i BKyBwU `xn gqv`x FY 622,483 82, , , , , , , , , , ,211

9 19. jf vsk: Kv úvbxi cwipvjkgûjx wnmve erm i cöwz 10/- (`k) UvKvi kqv ii Rb 2.00 UvKv nv i bm` jf vsk cö`v bi mycvwik K i Qb GB evwl K mvaviy mfvq Avcbv `i Aby gv`b mv c mb mg Í kqvi nvìvi `i jf vsk cö`vb Kiv n e hv `i bvg Kv úvbxi m`m ewn Z A_ev ww cv RUwi Z m Þ ^i 13, 2015 Bs Zvwi L Kvh mgvß mg q AšÍ f~³ _vk e 20. ev W i mfv G ermi ev W i 7 (mvz) wu mfv AbywôZ n q Q cwipvjkm Yi Dcw wzi ZvwjKv wb gœ cö`ë nj: cwipvjke `i bvg mfvq Dcw wz Rbve Rvdi Avn g` 07 Rbve Rûi Avn g` wcgbpww 07 Rbvev kikz Aviv Avn g` 01 Rbve kvnwiqvi Avn g` 06 Rbve Amxg Kzgvi eo qv 07 Rbve KvRx dviæk Kv `i 07 Rbvev kikz Aviv Avn g` cwipvjbv cwil` _ K 22 m Þ ^i 2014 Bs Zvwi L c`z vm K i Qb 21. kqvi nvwìsm msµvší weeiy: bvg Abymv i weeiy K) c v i U/ mvewmwwqvix/ G mvwm q UW Kv úvbx Ges Ab vb m úwk Z cvwu mgyn: kqvi msl v G c w úwbs GÛ bxwus wgjm& wjwg UW 169,250 G c j vbrvix wjwg UW 10,800 L) cwipvjke `, cöavb wbe vnx Kg KZ v, Kv úvbx mwpe, cöavb A_ Kg KZ v, Af šíixb wbix v cöavb: Rbve Rvdi Avn g` cwipvjk 1,320,530 Rbve Rûi Avn g` wcgbpww cwipvjk 160,740 Rbve kvnwiqvi Avn g` cwipvjk 563,430 Rbve Amxg Kzgvi eoqv cwipvjk 7,500 Rbve KvRx dviæk Kv `i ^Zš cwipvjk - Rbve Gm. K. nvj`vi cöavb A_ Kg KZ v - Rbve Avkxl Kzgvi cvj GdwmG Af šíixb wbix v cöavb - Rbvev Rmwgb myjzvbv mnkvix Kv úvbx mwpe - M) D Zb Ki cv iu wbe vnxmy - Rbve gwgb DwÏb Avn g` Lvb 2,450 N) Kv úvbx Z 10 kzvsk A_ev Zvi P q ekx fv Ui AwaKvix kqvi nvìvi: Rbve Rvdi Avn g` Rbvev kikz Aviv Avn g` 1,320, , Kv úvbxi cwipvjke `i wb qvm/cybt wb qvmt Avwg Rvdi Avn g` Ges Rbve KvRx dviæk Kv `i Kv úvbxi msnwewa gvzv ek evw _ K c`z vm KiwQ Ges hvm weavq cybtwbe vp bi Rb B Qv cökvk KiwQ Avgvi Ges Rbve KvRx dviæk Kv `i Gi we ÍvwiZ weeiy wbgœiƒct

10 Rbve Rvdi Avn g` t K) Avwg Rvdi Avn g` XvKv wek we` vjq _ K A_ bxwz Z mœvz KvËi wwmöx wb qwq Avwg hy³iv óªi dzw GÛ WªvM GWwgwb óªkb _ K Uªwbs wb qwq Avwg GB Kv úvbxi GKRb D ` v³v cwipvjk Ges Avwg GB wkí Lv Z 1979 mb _ K KvR K i Avwm ZwQ Avwg ez gv b GB Kv úvbxi Pqvig vb L) Avwg GB wk í hvm`vb Kiv _ K G ch ší G wkí m ú K Mfxi Ávb AR b K iwq Ges Avwg evsjv ` ki GKRb wngvwqz Lv` we klá M) Avwg GB Kv úvbx QvovI (1) G c w úwbs GÛ bxwus wgjm wjwg UW, (2) G c j vbrvwi wjwg UW, (3) G c Bqvb WvBs wjwg UW, (4) G c U UvBj wcöw Us wgjm& wjwg UW (5) G c d vkb Iq vi wjwg UW I (6) g v U evsjv `k wjwg UW-Gi cwipvjk c ` wbhy³ AvwQ N) ez gv b Avwg ev W i Kvb KwgwUi m`m bb Rbve KvRx dviæk Kv `it K) Rbve Kv `i, XvKv wek we` vjq nb Z mœvzk wwmöx AR b K ib wzwb 1988 _ K 1989 mb ch ší msm` m`m wq jb Ges GB mg q wzwb evwbr gš Yvj qi vwûs KwgwUi m`m wq jb wzwb 2009 _ K 2013 m bi I msm` m`m wq jb wzwb mvbvjx e vsk I mvavib exgv K cv ik bi cwipvjk I Pqvig vb wnmv e I wb qvm cªvß n qwq jb L) Rbve Kv `i GB Kv úvbxi GKRb ^Zš cwipvjk Ges GB wkí LvZ m ú K Mfxi Áv bi AwaKvix M) Rbve Kv `i G c w úwbs GÛ bxwus wgjm& wjwg U Wi I ^Zš cwipvjk c ` wbhy³ Av Qb N) ez gv b Rbve Kv `i AwWU KwgwUi Pqvig vb 23. wbix Kt Aemi MÖnbKvix wbixÿk gmvm ûmvbb dinv` GÛ Kv úvbx, PvU vw GKvD U v Um hvm weavq wnmve erm ii Rb cybt wbix K wb qv Mi Rb cö Íve I Av e`b K i Qb 24. K c v iu Mf b Ý Kgcøv qý cöwz e`bt evsjv `k wmwkdwiwur GÛ G PÄ Kwgk bi Pvwn`v Abyqvqx K c v iu Mf b Ý cöwz e`b mshy³ Kiv n jv XvKv ev W i c 23 AvMó, 2015 ^v/- Rvdi Avn g` mfvcwz

APEX FOODS LIMITED Annual Report

APEX FOODS LIMITED Annual Report CONTENTS Notice of the 33 rd Annual General Meeting 2 Corporate Directory 3 Five years Statistics 4 Corporate Governance Compliance Status Report 5 Chairman s Statement 7 Directors Report 8 Value Added