fareastknittingdyeingindustrieslimited prospectus 20140413 1402

8/11/2019 FarEastKnittingDyeingIndustriesLimited Prospectus 20140413 1402

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2/75

If you have any query about this document, you may consult issuer, issue manager andunderwriter

PROSPECTUS

Initial Public Offer of 25,000,000 Ordinary Shares of T! "0#$ each at an issue %rice ofT! 2$ each includin' a %re(iu( of T! "$ %er share )orth T! *&5,000,000

+ar East nittin' - .yein' Industries /i(ited+or eneral Public 1uota

Opening date for subscription:une "5, 20"3 Closing date for

subscription:une "4, 20"3+or on$Resident

6an'ladeshi 1uota

Opening date for subscription :une "5, 20"3 Closing date for subscription :une27, 20"3

8ana'er to the Issue

I./C In9est(ents /i(itedEunoos rade Center !"evel #$%, '&( )il*usha

C+, )ha*a $--- .hone: /&0$$0-, 1a2: /&0$$0$,

3ebsite: www4idlc4comUnder)riters

68S/ In9est(ent /i(ited5adharan 6ima ower !0th 1loor%, (0+ )il*usha C+,

)ha*a $---el: /&70--#, /&0-7#8, 1a2: 0$#(9#-

reen .elta Insurance Co(%any /i(itedreen )elta I;5 ower !7th 1loor%, &$' ;oha*hali

C+)ha*a $#$#, el: /9&$$0-, 1a2: /9&$$#8

IC6 Ca%ital8ana'e(ent /i(ited 6)6"

6haban !"evel $7%, 9 ead O?ce, ;6 Center, #7 ulshan venue,ulshan $

)ha*a $#$#, el: 99$0&7(, E2t #8&-,99#7/77, 1a2: 99#8((0

Pri(e 6an In9est(ent /i(ited

.eoples Insurance 6haban !$$th 1loor%, (7)il*usha C+ )ha*a $---, el: /&&&708, 1a2:/&&/#&0

Pri(e +inance Ca%ital8ana'e(ent /i(ited.1I ower!7th @oor%, &7'&0 )il*usha C+)ha*a $---, el: /&98908'7, 1a2:/&98900

Credit Ratin' Status

Particulars /on' Ter( Short Ter(

Entity


3/75

.hone: 99$-$0-, 99#9&-9, 1a2: 99#9&-/

3ebsite: www4fareast*nit4com

=COSET O+ T?E SECURITIES ;. E@C?;E CO88ISSIO ?;S 6EE O6T;IE. TO T?E ISSUE#O++ER O+ T?ESESECURITIES U.ER T?E SECURITIES ;. E@C?;E OR.I;CE, "4*4, ;. T?E SECURITIES ;. E@C?;ECO88ISSIO APU6/IC ISSUEB RU/ES, 200*! IT 8UST 6E .ISTICT/ U.ERSTOO. T?;T I IDI T?IS COSET T?ECO88ISSIO .OES OT T;E ; RESPOSI6I/IT +OR T?E +I;CI;/ SOU.ESS O+ T?E ISSUER CO8P;, ;O+ ITS PROECTS OR T?E ISSUE PRICE O+ ITS SECURITIES OR +OR T?E CORRECTESS O+ ; O+ T?E ST;TE8ETS8;.E OR OPIIO E@PRESSE. IT? RE;R. TO T?E8! SUC? RESPOSI6I/IT /IES IT? T?E ISSUER, ITS.IRECTORS, C?IE+ E@ECUTIDE O++ICER#C?IE+ +I;CI;/ O++ICER, ISSUE 8;;ER, U.ERRITER ;.#OR

;U.ITOR!>
http://www.fareastknit.com/http://www.fareastknit.com/


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1ar East nitting D )yeing Industries "imited

Availability of the Prospectus.rospectus of 1ar East nitting D )yeing Industries "imited may be obtained from followingaddresses

Co(%any Contact %erson Contact .etails

+ar East nittin' - .yein' Industries

/i(ited ;oyeen Centre, >ouse o4 /+6,

8r! 8oha((ad Saleh ;h(ed

Chief E2ecutive O?cer

el: /&$87(0'9

1a2: /&$878$

iclGiidfc4com

*! /ana6an'la In9est(ents /i(ited

Eunoos rade Center

!"evel #$%'&( )il*usha

C+, )ha*a $---

8r! 8 Shail Isla( 6huiyan

Chief E2ecutive O?cer

el: 0$##&/&, /&7$#(9

1a2: 0$$(&9&

sha*il4bhuiyanGlan*aban

gla'investments4com

&! 8utual Trust 6an /i(ited

Corporate >ead O?ce, ;6 Center

#7 ulshan venue, ulshan $, )ha*a $#$#

8r! 1ua(rul Isla( Cho)dhury

)eputy ;anaging )irector

el: 99#7/77 E2t: #8--

)irect: /9/&/7&

1a2: /97$(/7

om

7!Pri(e 6an In9est(ent

/i(ited.eoples Insurance

6haban !$$th 1loor%(7

8r! handoer Raihan ;li ;C;

ssistant Aice .resident

el: /&&&708

1a2: /&&/#&0

mbidGprimeban*4com4bd

4! Pri(e +inance Ca%ital 8ana'e(ent/i(ited

8r! 8! 8osharraf ?ossain, Ph.,+C;

el: /&98908'71a2: /&98900

Stoc EHchan'es ;9ailable at Contact .etails

.haa Stoc EHchan'e /i(ited

/+1 ;oti=heel C+, )ha*a $---)5E "ibrary

/&787-$

1a2: /&780#0, /&7/0&&

Chitta'on' Stoc

EHchan'e /i(ited C5E

6uilding, $-9-, 5hei*h ;u=ib

C5E "ibrary

-($'0$87(#'(

-($'0#-90$'(

1a2: 0$8$-$

.rospectus would also be available on the web site of 65EC !www4secbd4org%, )5E !www4dsebd4org%, C5E!www4cse4com4bd%, 1ar East

nitting D )yeing Industries "imited !www4fareast*nit4com%, I)"C Investments "imited !www4 idlc4com% and.ublic


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6/75

Prospectus

1ar East nitting D )yeingIndustries "imited


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Section I: Statutory

conditions

4$

" dated 8 1ebruary #--#+

$#4 6onded 3are >ouse"icense

"icense no: #--9+CH5'

563+/8 dated #/

ovember $//8

#9 ovember #-$(

[ pplied for renewal till #9

ovember #-$&

$(4 I5O /--$:#--9 CertiJcateCertiJcate o: /&70

dated $& Kanuary #-$#Aalid $& Kanuary #-$&

$84Organic E2change $--

5tandard !OE $--%

CH9$8908OE$--'-$4#-$(dated &

Aalid till #0 Kanuary #-$8

$&4Organic E2change

6lended

CH9$8908OE 6"'-$4#-$(dated &

Aalid till #0 Kanuary #-$8

$74 Captive .ower .roducer"icense

6E


42/75(- (-

and 88 ons are processed from out side4


43/75($

!s per ote (&4-- of #-$# udit


44/75(#

Se)in' +loor nittin' 8achine


45/75


46/75


47/75


48/75(7


49/75

Stenter8achine

Section DI: .escri%tion of%ro%erty

Section DII: Plan ofo%eration anddiscussion of Jnancialcondition


50/75($

SECTION VI

Description of Property

/OC;TIO O+ PRICIP;/ P/;TS ;. OT?ER PROPERT O+ T?E CO8P;;. T?EIR CO.ITIO

$4 1ar East nitting D )yeing Industries "imited !1E)I"% has its factory located at Chandra,

alia*oir, aFipur4 he factory is located at the companyNs own land totaling to 8$-409

decimals4 here are si2 !7% factory buildings, one tin shed go' down, an ePuent treatment

plant, a water treatment plant, a mosque, and a bungalow for accommodating visitors4 hesi2 buildings provide space for the companyNs sampling, *nitting, dyeing, printing, stitching,

and Jnishing units4 he factory buildings also accommodate an o?ce space for factory

o?cials, a medical center, a child care center, a laboratory and spaces for storing wor*'in'

process and Jnished goods4

#4 ll of the companyNs machineries are purchased in brand new condition !please refer to ote

&4-$4-$ of the udit%4 he company does not have any second'hand or reconditioned

machinery4 6elow table illustrates the written down value of the J2ed assets that the

company owns:

Fig!e" in BDT

(#" $e! #%it !e$o!t)&0 'ne 201& &0 'ne 2012 &0 'ne 2011

ir conditioner #,90(,(# (,$(&,80 (,8#&,0/6uilding D civil wor*s 897,-0&,(0 8&/,/88,7( (8&,9/#,((

Computer 5oftware 0,-$9,-8 8,7#(,$/ 8,8/9,89

Croc*ery D cutleries $$(,-$ #0,-97 ((,9&0

Electric+ as installation $/,988,#8 $$,($&,$7 $(,($$,/7

Electrical equipment $-,#9-,0( (,(-&,-( (,&7#,-&

1a2+ phone+ mobile $#$,#& $(8,0( $8/,0-

1urniture D J2ture $8,0-/,$0 $(,$-0,#& $(,$9&,8$

enerator (&,//$,-/ 8#,(&7,0# $/,$-8,(-

"and and land development #70,-79,(8 #70,-79,(8 #70,-79,(8

;otor vehicle (#,9&9,/9 #&,/#7,90 $7,&&$,-9

O?ce decoration $9,/-&,70 $9,/99,99 $/,/-&,78

O?ce equipment $7,-77,7# 9,8$/,7- 7,(-&,&&.lant D machinery !1abric% #&9,(0-,08 #9$,9&9,7# #0/,(8$,9&

.lant D machinery !arment% $($,$0/,#0 7/,/-(,80 &7,(89,/#

.lant D machinery !.rinting% $/,7/#,9- #$,0/0,&8 0,9$-,--

.lant D machinery !3ashing% 8,/((,#0 8,##9,9& 8,0&-,$#

3ater D steam line $0,$-9,#0 9,8$9,/( #,&$-,7-

3ater treatment plant 9,088,0# 0,7$$,9$ 9,00&,$0

EPuent treatment plant &,(/$,9&84 &,$$(,$& &,#/7,/0

Total ",ence, the

mortgagors name is I)"C 1inance "imited4

&4 he date of e2piration and name of the lessors are given in the Operating lease during last

Jve years part of the .rospectus4


51/75(#(#

SECTION VII


Plan of $peration & Discussion of inancial Condition

ITER;/ ;. E@TER;/ SOURCES O+ C;S?

he companyNs internal sources of cash consist of cash received from customers, from disposal of J2ed

assets, from e2isting shareholders as equity and cash received as other income4 On the other hand,

cash received from e2ternal sources comprise of loans from ban*s and various liabilities4 Cash

generated from such internal and e2ternal sources is then utiliFed for operational, Jnancial and

investment purposes4 he table below illustrates the various sources and uses of cash of the

company for the last three accounting years:

As per aud#ted accounts

Sl! Particulars A+i'ures in 6.T 000B


52/75((

Over the years the company has been able to generate su?cient cash from its internal and

e2ternal sources to meet the cash obligations during the year4 long with growth in sales, the

companyNs cash receipt from customers grew as well, indicating the high quality of its

receivables4 )ue to healthy proJt margins, cash @ow generated from sales has been su?cient

in meeting cash obligations to suppliers and for operational purposes4 )uring the period under

review, cash collection from customer remained the ma=or contributor of internally generated

cash4 On the other hand, dependence on e2ternal sources of cash has decreased gradually4 he

companyNs collection from customers increased during the period of #-$$'$( on a QOQ

basis4)uring the year ended Kune (-, #-$( the companyNs sales decreased by $40/M but

collection from customers increased by 747(M indicating better receivables management4 he

cash payment during the year was higherthan cash generated from internal and e2ternal sources

as the company incurred higher operational e2penses and paid o a signiJcant amount of its

ban* liabilities4

)uring the three years from #-$$ to #-$(, the company invested consistently in J2ed assets that

enabled the growth in sales4 .art of the e2pansion was Jnanced through internally generated

cash and the rest was Jnanced through ban* borrowing4 In addition, the company has short term

ban* borrowings to meet its wor*ing capital needs4 he company has been able to repay the

principle and interest on its short term and long term ban* borrowings from its internally

generated cash4

)uring the period under review, the companyNs e2ternal sources contributed a rather small

portion of total cash generated compared to internal sources4 s a result, the companyNs overall

debt levels remained very much within control4 Overall, thecompany depicted su?cient Jnancial

strength to meet the Jnancial and operational cash requirements4

8;TERI;/ CO88IT8ET +OR C;PIT;/ [email protected]

s on the date of this .rospectus, the company does not have any material commitment for

capital e2penditure other than those mentioned in 5ection IA: Issue 5iFe and .urpose of .ublic

Oering4

C;USES +OR 8;TERI;/ C?;ES

Fig!e" in BDT (A" $e! #%it !e$o!t)Fo! te e#! en%e%

&0-'n-201&

Fo! te e#! en%e%

&0-'n-2012

Fo! te e#! en%e%

&0-'n-2011

Sales Re9enue AEH%ortB 2,


53/75(8 (8

rates4

Over the years 1E)I" has focused on producing high quality and higher value added items4

6esides, the company focuses on stronger bac*ward lin*age instead of horiFontal e2pansion4 s a

result the company has been able to to maintain healthy proJt margins consistently4 )uring the

years ended on (- Kune, #-$$, #-$# and #-$(, the companyNs gross proJt margin stood at

#04-7M, #94M and ##4&$M respectively4


54/75(&


)ue to high gross proJt margins, the company has been able to maintain impressive proJtability as

well4 )uring the 1Q #-$$ to #-$(, the companyNs net proJt margins stood at $&4(&M and $74/8M and

$-M respectively4 he companyNs overall debt burden has remained low resulting in low interest

e2penses4

SE;SO;/ ;SPECT O+ T?E CO8P;KS 6USIESS

here is no signiJcant seasonal aspect on the companyNs business4 In general, thecompanyNs pea* order seasonstarts from ;ay'Kune and stays till )ecember'Kanuary of eachyear4

O TRE.S, EDETS OR UCERT;ITIES

1orce ma=eure such as natural calamities, political unrest, labor unrest, unavailability

of power andgas etc4 might have a material eect on companyNs future business4

C?;E I T?E ;SSETS O+ T?E CO8P; USE. TO P; O++ ;/I;6I/ITIES

o asset of the company has been disposed to pay o any liability of the company4

/O; T;E +RO8 OR IDE TO ?O/.I#P;RET CO8P; ORSU6SI.I;R CO8P;

he company does not have any holding+parent or subsidiary company4

+UTURE COTR;CTU;/ /I;6I/ITIES

he company has no plan to enter into any contractual liabilities other than normal course ofbusiness within ne2t one year4

ESTI8;TE. +UTURE C;PIT;/ [email protected]

he company does not have any plan for future capital e2penditure other than those mentioned in the

5ection III: Issue 5iFeand .urpose of .ublic Issue4

D;T, ICO8E T;@, CUSTO8S .UT OR OT?ER T;@ /I;6I/IT

aBD;T

he company is e2empted from A, liabilities as per the 5


55/75


56/75(0

;ccountin' ;ssess(ent Status

200&$2007 .))34.))/

As per certificate issued by Deputy Commissioner of %a5es dated 0 6uly .))/( ar 7ast

8nitting & Dyeing "ndustries 9imited is an Assesse of Companies Circle 1( %a5es :one 2(Dhaka* %he assessment of the assessee company has been completed for the

assessment year .))34.))/ and ta5es for the relevant year paid in full*

cBCusto( .uty

he company is e2empted from custom duty as per the 5ouse o4 /+6, ouse o4 /+6,


57/75(9(9


P#!ti*+#!" e#"e Ag!eeent .o! Regi"te!e% O..i*e

De"*!i$tion o.

e#"e% A""et

.(.)) s>uare feet of floor space on the south

side of the 1rd floor of il>uis %o;er( Plot +

?ne;@( .nd Circle( Gulshan( Dhaka 2.2.*

.(.)) s>uare feet of floor space on the south

side of the 1rd floor of il>uis %o;er( Plot +

?ne;@( .nd Circle( Gulshan( Dhaka 2.2.*

e#"e RentD% .3 ?t;enty eight@ per s>uare feet totalingto D% +2(+)) per month*

D% 2, ?fourteen@ per s>uare feet totaling toD% 1)(3)) per month*

Rene#+ C+#"e9ease rent ;ill automatically increase at the

rate of 2) percent after completion of first

three years

9ease rent ;ill automatically increase at the

rate of 2) percent after completion of first three

years

+I;CI;/ /E;SE CO88IT8ET .URI /;ST +IDE E;RS

he company did not enter into any Jnancial lease commitment in the last Jve years4

PERSOE/ RE/;TE. SC?E8E

he company has well designed recruitment, training, development, compensation and evaluation

policies for the personnel of the company4 part from the monthly salary, the employees of the

company receive many other beneJts which are e2plained below:

ratuity: Every o?cer of the company is entitled to gratuity beneJt sub=ect to a minimum service

period of three years4 On compliance with this clause, an o?cer will obtain the salary of the number ofmonths same as the number of years of his+ her service4 s per note &4-/ of the audit report, the

company provisions 6) 8--,--- per month for gratuity4 s per note

$&4-- of the udit report, the siFe of the provision for gratuity stood at 6) $0,8-/,&80 on (- Kune#-$(4

+esti9al 6onus: Every o?cer gets one month of basic salary as festival bonus during each Eid inthe year4

rou% ?ealth Insurance: ll the permanent employees of the company get health insurance beneJt

under an insurance coverage from )elta "ife Insurance Company "imited4

6eneJts Paid to the /abors: he company pays several beneJts other than regular salaries and

wages to the wor*ers4 )uring each Eid every year, every wor*er gets festival bonus equal to her one

monthNs basic salary4 he wor*ers get attendance bonus upto 6) 8-- each month if they are

present on every wor*ing day of a month4 he wor*ers also get conduct bonus of 6) #-- each

month if they maintain good conduct with their co'wor*ers during an entire month4 he company alsoprovides free lunch every day to every wor*er of the factory4 he wor*ers receive overtime

allowances, production incentives and Earned "eave Encashment 6eneJt4 he wor*ers also receive a

onetime 5ervice 6eneJt upon retirement based on their service length, salary and other factors4 he

company provisions 6) (0&,--- for 3or*ers 3elfare 1und !as per ote &4-/ of audit report%4 he siFe

of the 3or*ers 3elfare 1und stood at 6) $/,###,7($ as on (- Kune #-$( !as per note

$74$ of audit report%4 he company also bears certain medical e2pense of the wor*ers4 6elow table

illustrates the various compensations that the company paid to wor*ers of the factory during the

year ended on (- Kune #-$( !as per ote #04-# of the udit


58/75(/

;edical E2penses /7&,&-


59/758- 8-

+i'ures in 6.T

Aas %er ote 2&!02 of ;udit Re%ortB


60/758$


RED;/U;TIO O+ CO8P;KS ;SSETS ;. SU88;R T?EREO+

he company revalued some of its J2ed assets twice, Jrst time on cut'o date of (- Kune #-$- and

second time on cut'o date of (- Kune #-$$4 he summary of the revaluation is provided below:

P#!ti*+#!"Re#+#tion Con%*te%

on Ct-o.. D#te o. &0 'ne 2010Re#+#tion Con%*te%

on Ct-o.. D#te o. &0 'ne 2011

V#+e!3" N#e %ista Surveyors Saha !a#umdar & Co* Chartered Accountants

V#+e!3" A%%!e""Gulistan Comple5( . ** Avenue( 9evel /(

Dhaka 2)))

.2( Purana Paltan 9ine ?,th & top floor@(

Dhaka 2)))

D#te o. V#+#tion

Re$o!t Signing.0 August .)2) 3 August .)22

Ct-o.. D#te o.Re#+#tion

1) 6une .)2) 1) 6une .)22

P!$o"e o.

Re#+#tion%o ascertain net ;orth of the company

%o comply ;ith S7C notification dated

./ December .)2) ?Reference No* S7C

C!RRCD.))/42/132Admin@

N#t!e o. !e#+e%

#""et"uilding( land( plant & machinery uilding( land( plant & machinery

4o5# V#+e o. $e!

De*i#+ #n% D% 2+())) D% .+()))4#!et V#+e o. $e!

De*i#+ #n%D% 0))())) D% 0+)()))

V#+e o. .ie% #""et"7e.o!e !e#+#tion

D% 030(32.(2/+ D% 00/(0''(3.'

V#+e o. .ie% #""et"

#.te! !e#+#tionD% +.1())'(''0 D% 3/,(0'2(1//

Re#+#tion S!$+"

$+e#"e "ee note (#)#n% (7) 7e+o .o! te

%et#i+ *#+*+#tion

D% 1'(2/0(0'/ D% 11,(//1(0'.

N#e #n%:#+i.i*#tion o.

V#+#tion Te#4e7e!"

2* 7ng* Sahfi>ur "slam4 *Sc* 7ng*?B7%@

.* !d* 8amal Bddin4 !* Sc*

1* %asneem Akther4 *Sc* 777 ?NSB@,* !onir ossain4 Diploma in 7ngineering

0* !d* $mmar aru>ue4 *Sc*

+* !d* !u#ahid Bllah4 **S*

'* !d* Giashuddin Ahmed4 *A

2* !r* Nasir B Ahmed4 CA( CS

.* !s* 6eenat 6ahan Dipty4 CA( CC

1* 8handaker Golam !ostafa4 SC 7ng*

Civil ?B7%@4 Chief Surveyor

,* 8handaker Na#rul "slam4 SC 7ng* Civil

?B7%@0* !d* !isbah Bddin4 SC 7ng* Civil

?B7%@

Not#7+e V#+#tion;o!" Done 7 te

V#+e!

2* Antim Composite 9td*

.* Delta Spinning !ill 9td*

1* Dird Composite 9td*

,* aria 8nitte5 9td

0* !!* Composit 8nit* 9td

+* !o#art 8nit* 9td*

'* Neo :ipper 9td3* $lympic Apparels 9td*

/* uality !ilk 9td*

2)* Chittagong Denim 9td22* %he Acme Speciali#ed Pharmaceuticals

2.* !*A* !atin Cotton !ills 9td*

2* Galfra abib 9td* Chittagong

.* Securities roking & !anagement

Services 9td*

ote !a%: Calculation of


61/75


62/758(


;U.ITORKS CERTI+IC;TE RE;R.I P;I.$UP C;PIT;/ O+ +;R E;STITTI ;. .EI I.USTRIES /I8ITE.

3e being the auditorNs of 1ar East nitting and )yeing Industries "imited !the company% and after due

veriJcation of boo*s and accounts of the company, do hereby conJrm that the paid up capital of the

company is *4 /$-,(-9,--- as on ;arch-/, #-$( divided in to /$,-(-,9-- shares of * $- each4 he

summary of allotment of shares against paid up capital since incorporation to ;arch -/, #-$( is as

follows:

P#!ti*+#!" o.

A++otentD#te o. A++otent

N7e! o. S#!e" I""e% Aont

o. S#!e"

C#$it#+

(BDT)C#" Bon" Ote! t#n *#"

irst ? Subscription to the!emorandum & Articles of

Association at the time of"ncorporation@

pril $/, $//8 $--,---

' ' $,---,---

5econd pril #9, $//& 7,(--,-- ' ' 7(,---,--

hird Kanuary -9, ' ,70#,-- ' ,0#-,--

1ourth Kanuary -/, (,---,-- (-,---,--

1ifth Kanuary -/, ' ' #,/&-,-- #/,&--,--

5i2th ovember -8, ' #7,--9,9- ' #7-,-99,--

Total 4"0,


63/758888

5d+'

A8asih

8uhith ?aue - Co!B

Chartered ccountants


64/758&

.EC/;R;TIO 6 T?E ISSUE 8;;ER ;6OUT T?E ;PPROD;/ +RO86;/;.ES? SECURITIES ;. E@C?;E CO88ISSIO +OR ;8;TERI;/ C?;ES

In case of any material changes in any agreement, contract, instrument, facts and Jgures,

operational circumstances andstatement made in the .rospectus subsequent to the preparationof the .rospectus and prior to its publication, shall be incorporated in the .rospectus, and the

said .rospectus should be published with the approval of the Commission4

1or ;anager to the Issue

5d+'

8r! 8d! 8oniruGGa(an

;anaging )irector

I)"C Investments "imited

.EC/;R;TIO RE;R.I O SUPPRESSIO O+ 8;TERI;/ I+OR8;TIO

%his is to declare that( to the best of our kno;ledge and belief( no information( facts or circumstances( ;hichshould be disclosed have been suppressed( ;hich can change the terms and conditions under ;hich the offerhas been made to the public*

or "ssuer(

Sd4

A"i. 4oeen

!anaging Director & Director

ar 7ast 8nitting & Dyeing "ndustries 9imited

PROSPE


65/75


66/758(

SECTION VIII

"nformation about Directors & $fficers.IRECTORS O+ T?E CO8P;

a(e .esi'nation;'e

Aear

EH%erie

nceo(inatedb

Period

of

1arha "aFina Chairman 87 $/ + +

sif ;oyeen ;anaging &9 (9 + +

;d4 6in Yuasem )irector && (( + +

5adia ;oyeen )irector 80 $/ + +

;44;4 ;ohiuddin )irector &/ (9 + +

Omar ;oyeen )irector #& # + +

I+OR8;TIO RE;R.I .IRECTORS ;. .IRECTORS?IP

a(e .esi'nation.ate of beco(in'

director for the

.ate of

EH%iration

1arha "aFina Chairman $/'pr'$//8he directors of

thecompany are

sub=ect to be

retired by rotation

according to

5ection /$and


67/758888


a(e.esi'nation

in the

Co(%any

a(e of otherOr'aniGation

Position in

other

Or'aniGati

on

;ohammed 6in Yuasem )irector

Incredible 1ashions "td4 ;anaging

5titch e started hiscareer as a ban*er and served in senior management capacities in 6angladesh, China and >ongong4 In $/9/, he set up his own trading business in >ong ong dealing mainly with commoditiessuch as cement and steel4 In $//8, he set up 1E)I"4 ;r4 ;oyeen directly loo*s after the mar*etingactivities and also oversees the day'to'day operations of the company4

8oha((ed 6in 1uase(

Director, Far East Knitting & Dyeing Industries Limited

;r4 ;ohammed 6in Yuasem, )irector of Operations, completed post graduation in Economics fromortheastern Hniversity, 6oston, H54 >e started his career as a ban*er and served in various seniormanagement capacities with an international 6an* in >ong ong4 In $//$, he =oined a renownedbuying house in >ong ong where he gained e2perience in the te2tile and garments sector4 ;r4Yuasem =oined 1E)I" in $//84 >e is involved in overseeing the fabric manufacturing operations of thecompany4

Sadia 8oyeen

Director, Far East Knitting & Dyeing Industries Limited


68/758&

;s4 5adia ;oyeen is a reputed business person4 part from her )irectorship in 1ar East nitting D

)yeing Industries "imited, she is also a director in sianet "imited, 1ar East 5pinning Industries "imited

and 1ar East Qarn )yeing Industries "imited4


69/758787

8!!8!8ohiuddin

.irector, +ar East nittin' - .yein' Industries /i(ited

;r4 ;44;4 ;ohiuddin is a former ban*er of international repute with $8 years of e2perience of

wor*ing in >ong ong4 )uring his career, he has gained in'depth *nowledge and e2perience in

the Jelds of international Jnance, ban*ing, capital mar*et activities, and manufacturing'

especially garments and te2tile4 ;r4 ;ohiuddin is the ;anaging )irector of ; ; 5ecurities

"imited' a member of Chittagong 5toc* E2change4 >e has held various posts with C5E4 >e held

the post of .resident of C5E for # years and )irector for $- years4 >e is also the .resident D CEO

of 5*ybridge International4 >e is the promoter and pioneer of establishing direct air lin* between

China D 6angladesh4 ;r4 ;ohiuddin is well *nown among the business community and for his

reputation and credibility4 >e is a graduate from Hniversity of )ha*a4

O(ar 8oyeen

.irector, +ar East nittin' - .yein' Industries /i(ited

;r4 Omar ;oyeen is a )irector of 1ar East nitting D )yeing Industries "imited4 Currently, he is

pursuing full time degree course at


70/7580


a(e ;'e .esi'nation 1ualiJcatio .ate ofoinin

/ast J9e

ears

;d4 895r4

;anager;44 pril $, #--- 1E)I"

Zahidul lam 8&5r4

;anager644 Kuly #0, $//& 1E)I"

;amunur 454C4 October $&, 1E)I"

bdul "atif 8# ;anager !nitting% 644 ;ay #&, $//9 1E)I"

54;4 5hamsul 88 ;anager 645c4 !Eng%ovember /,

$//71E)I"

54;4 amrul>asan

(- ;anager !)yeing% 645c4 !Eng% Kanuary $$,#-$-

3or*ed for

6arnali

nitting D

)r4 4 ;ortuFa

han

7# ;edical O?cer ;4646454 Kune #-, #--/

.reviously

wor*ed #

yearsin

6angladesh

;edicalCollegeand

IDO/DE8ET O+ .IRECTORS ;. O++ICERS I CERT;I /E;/PROCEE.IS

o O?cer or )irector of the Company was involved in any of the following types of legalproceedings in the last ten years4

a% ny 6an*ruptcy .etition Jled by or against any company of which any O?cer or )irector of the

Issuer Company Jling the .rospectus was a )irector, O?cer or .artner at the time of the

ban*ruptcy

b% ny conviction of an O?cer, )irector in a criminal proceeding or any criminal proceeding

pending against him

c% ny Order, Kudgment or )ecree of any Court of competent =urisdiction against any O?cer,

)irector permanently or temporarily en=oining, barring, suspending or otherwise limiting the

involvement of any O?cer or )irector in any type of business, securities or ban*ing activities

d% ny Order of the 5ecurities and E2change Commission, or other


71/7589 89

accounts for the year ended Kune (-, #-$(4

)uring the last two years, the company paid remuneration to the following )irectors who also act

as O?cers of the Company !as per ote (&4-- of udit


72/75


73/75&- &-


;''re'ate ;(ount of Re(uneration Paid to the .irectors and OLcers durin' /ast;ccountin' ear ended on


74/75&$

5 /8 D $-#,


75/75

;U.ITORKS CERTI+IC;TE RE;R.I T;I6/E ;SSETS PER S?;RE

Calculation of et assets %er share and Tan'ible assets %er share

Particulars of ;ssets;s on une

fareastknittingdyeingindustrieslimited prospectus 20140413 1402

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