Annual Report 2016 of Fareast Finance & Investment Limited

It is a broadly described annual report of Fareast Finance & Investment Limited in the year of 2016. In the year 2016, Fareast Finance contributed Tk. 78.18 million to the economy by paying income tax to the Government against Tk. 37.56 million in the year 2015. On the other hand, during the year 2016, the company deducted income tax and VAT at sources amounting Tk. 86.40 million and deposited the same to the authority. In 2016 total asset of the company stood at Taka. 14,017.90 million representing 3.86 percentage of growth. Besides, the company disbursed Taka. 4,308.44 million during the year representing 7.61 percentage growths. In the year 2016 Company’s total operating income was Tk. 1,175.29 million. Besides, in the year 2016 Fareast Finance was able to post Tk. 102.98 million as net profit against the previous year’s profit of Tk. 204.97 million.

For the year 2016 the Board of Directors recommends @5% percent cash dividend hence there is no reason for non-declaration of the dividend. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.