RECORDS TO YOUR RECORDS FOR THE ENDED JUNE 30, 2003
3 year. MONEY AND BANK BALANCES 3.1. RETURN ON THESE SAVINGS REPORTS IS ACQUIRED AT RATES INCLUDING 2 percent TO 5 percent
4. SHORT-TERM LOANS 4.1. These express loans to clients for a time period of as much as a year on mark-up basis and therefore are guaranteed by means of lien on Certificates of Investment. The price of mark-up ranges from 14% to 21.5percent per year.
4.2. Included in these are cash market placements with different https://www.myinstallmentloans.net/ banking institutions along with other finance institutions. Return on these placements ranges from 5% to 13percent.
5. ASSETS through the present 12 months, the business offered four government securities for Rs 182.288 million. The cost that is amortised of federal government securities had been Rs 159.394 million therefore the revenue regarding the disposal among these securities amounted to Rs 22.894 million.
The administration made a decision to offer these securities so that you can realise the gain arising on these securities beneath the reduced rate of interest environment.
As at June 30, 2003 the staying investment of this business in federal government securities amounted to Rs 52.634 million.
This investment has been reclassified as ‘held for trading’ and it is calculated at reasonable value. An increase of Rs 12.946 million happens to be credited to your loss and profit account in respect of the investment. (more…)