News Makers News From Pakistan
Karachi: We have to inform you that the Board of Directors of BankIslami Modaraba Investments Limited (BIMIL), Management Company of Modaraba Al-Mali, in their meeting held today at 4:30 p-m., approved the followings:
| 1) | Cash Dividend | Nil |
| 2) | Bonus Issue | Nil |
| 3) | Right Issue | Nil |
The Audited Financial Results for the year ended June 30, 2011 are attached herewith.
The Annual Review Meeting of Modaraba Al Mali will be held at Karachi on Thursday, 27th October 2011 at 8:00a.m.sharp, to review the performance of the Modaraba.
The Certificate Transfer Books of Modaraba Al Mali will be closed from 20th October 2011 to 27th October 2011 (both days inclusive). The transfer received by our Registrar, M/s Technology Trade (Private) Limited, Dagia House, 241-C, Block-2, PECHS, Karachi at the dose of business hours on 19th October 2011 will be treated in time for the purpose of attending the Annual Review Meeting.
Profit and Loss Account for the Year Ended June 30, 2011
|
2011 |
2010 |
||
| Note |
Rupees |
Rupees |
|
| Income | |||
| Income from maintenance services | 42,827,320 | 26,879,414 | |
| Income from ijarah finance | 30,367,791 | 21,253,808 | |
| Profit on diminishing musharaka finance | 3,146,904 | 7,045,432 | |
| Profit on investments in sukuk certificate | 1,027,769 | 2,227,562 | |
| Profit on murabaha finance | 38,851 | 406,555 | |
| Income from operation of fuel station – net | 20 | 515,962 | – |
| Other operating income – net | 21 | 7,559,736 | 3,685,671 |
| ———- | ———- | ||
| 85,484,333 | 61,498,442 | ||
| Expenditure | |||
| Profit on ijarah finance | 157,739 | 1,137,365 | |
| Depreciation on property and equipment – ijarah | 14 | 3,510,414 | 2,840,065 |
| Operating expenses | 22 | 79,467,849 | 68,944,504 |
| ———- | ———- | ||
| 83,136,002 | 72,921,934 | ||
| ———- | ———- | ||
| 2,348.331 | (11,423,492) | ||
| Provision for impairment loss | 23 | (22,362,869) | (1,489,597) |
| ———- | ———- | ||
| (20,014,538) | (12,913,089) | ||
| Modaraba company’s management fee | 24 | – | – |
| ———- | ———- | ||
| Loss for the year before taxation | (20,014,538) | (12,913,089) | |
| Taxation | 25 | (140,582) | – |
| ———- | ———- | ||
| Loss for the year after taxation | (20,155,120) | (12,913,089) | |
| Other comprehensive income | – | – | |
| ———- | ———- | ||
| Total loss after other comprehensive income | (20,155,120) | (12,913,089) | |
| ———- | ———- | ||
| Earnings per certificate – basic and diluted | 26 | (1.09) | (0.70) |
The annexed notes form an integral part of these financial statements.
For more information, contact:
BankIslami Modaraba Investments Limited
10th Floor, Progressive Square,
Opp, Nursery, Sharah-e-Faisal,
Karachi, Pakistan.
Phone: (92-21) 34547521-5
Fax: (92-21) 34547526
Web: www.modarabaalmali.com
