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Mohammad Tarequzzaman
Paramount Insurance Company Limited which is listed in the capital market and the auditor of the company has brought some allegations against the said company.
According to the Dhaka Stock Exchange (DSE) sources, the auditor mentioned that Paramount insurance did not form Workers Profit Participation Fund (WPPF) for the year ended December 31, 2021; which is against the Bangladesh Labor Act 2006 (as amended in 2013). Not only that, the auditor mentioned that the said company understate its retained earnings.
Last closing price of the Paramount Insurance Tk 58.50. Authorized and Paid up capital Tk 60 crore and above 40 crore respectively of the company. Closing price was Tk 66.8 on 1 mach, 2022 which is Tk 8.3 decreased from mentionable last closing price.
Meanwhile, the board of Directors has recommended 10 percent cash dividend for the year ended December 31, 2021. Date of AGM: 25.06.2022, Time: 4:00 PM, Venue: Digital Platform. Record Date: 28.04.2022. The Company has also reported EPS of Tk. 3.03, NAV per share of Tk. 25.25 and NOCFPS of Tk. 4.20 for the year ended December 31, 2021 as against Tk. 4.48, Tk. 22.18 and Tk. 2.29 respectively for the same period of the previous year.
The company has total no. Outstanding Securities 40664966, which is 48.48 percent of Sponsor or Director, 14.62 percent of Institute, Foreign 0.03 percent and 36.87 percent of the Public.