The UAE-Bangladesh Investment Company Limited

Balance Sheet
As at 31 December 2012

31.12.2012 31.12.2011
Notes
Taka Taka

PROPERTIES & ASSETS

Cash 3 121,582 51,956

Cash in hand 66,992 35,956
Balance with Bangladesh Bank 54,590 16,000

Balance with other banks and financial institutions 4 918,184,508 453,715,368

In Bangladesh 918,184,508 453,715,368
Outside Bangladesh - -

Money at call and short notice - -

Investments 5 13,707,375 30,497,834

Government securities - -
Other investments 13,707,375 30,497,834

Loans, leases and advances 6 320,841,190 183,911,893

Loans, leases and advances 320,841,190 183,911,893
Bills purchased and discounted - -

Fixed assets 7 644,349 368,591

At cost 6,653,346 6,327,946
Less: Accumulated depreciation 6,008,997 5,959,355

Other assets 8 9,180,666 5,564,725

Non-banking assets - -
Total assets 1,262,679,670 674,110,367

LIABILITIES AND CAPITAL

Liabilities 9 11,936,311 8,768,874

Borrowing from other banks, FI and agents - -
Deposit and other accounts - -
Other liabilities 11,936,311 8,768,874

Shareholders' equity 1,250,743,360 665,341,493

Paid-up capital 10 1,000,000,000 157,810,000
Reserves and surplus 11 250,743,360 507,531,493
Total liabilities and shareholders' equity 1,262,679,670 674,110,367

The annexed notes form an integral part of the Balance Sheet.

Dr. S. M. Akbar Md. Shafiqur Rahman Patwari Saeed Al Ameri

Managing Director Deputy Chairman Chairman

This is the Balance Sheet referred to in our report of even date.

Dhaka, ACNABIN
13 February 2013 Chartered Accountants
3
 The UAE-Bangladesh Investment Company Limited
Profit & Loss Account
For the year ended 31 December 2012

2012 2011
Notes Taka Taka

Interest income on loan, lease & advance 12 24,939,101 15,399,287

Interest paid on deposits & borrowings - -
Net interest income on investments 24,939,101 15,399,287
Investment income 13 8,969,341 15,259,838
Commission, exchange and brokerage - -
Other operating income 14 81,402,788 55,086,204
Total operating income 115,311,230 85,745,330

Salaries & allowances 15 9,728,171 7,690,890

Rent, taxes, insurances, electricity, etc. 16 1,054,835 941,962
Legal and professional fees 17 4,662,675 2,901,699
Postage, stamp, telecommunication, etc. 18 304,566 283,988
Director's fee 60,000 51,750
Stationery, printing, advertisement 19 316,011 196,489
Managing director's salary & allowance 5,905,920 5,605,920
Auditor's fee 69,000 69,000
Charges on loan losses - -
Repairs, improvements and depreciation 20 2,134,836 1,461,033
Other expenses 21 6,875,320 3,652,322
Total operating expenses 31,111,335 22,855,053
Profit/(loss) before provision 84,199,895 62,890,276

Provision for loans/investment

Specific provision - -
General provision 1,369,293 1,171,624
Provision for diminution in value of investment - -
Other provision - 9,000,000
Total provision 1,369,293 10,171,624
Profit before taxes 82,830,602 52,718,653
Provision for taxes
Current taxes - -
Deferred taxes - -
- -
Profit/(loss) after taxes 82,830,602 52,718,653

Earnings per share 22 9,185.92 10,543.73

Earnings per share (Restated) 5,857.63

The annexed notes form an integral part of the Profit & Loss Account.

Dr. S. M. Akbar Md. Shafiqur Rahman Patwari Saeed Al Ameri

Managing Director Deputy Chairman Chairman

This is the Profit & Loss Account referred to in our report of even date.

Dhaka, ACNABIN
13 February 2013 Chartered Accountants

4
 The UAE-Bangladesh Investment Company Limited
Cash Flow Statement
For the year ended 31 December 2012

2012 2011
Taka Taka

a. Cash flows from operating activities

Interest received in cash 106,274,290 70,480,491
Interest paid in cash - -
Dividend received in cash - -
Fees and commission received - -
Recovery of loans previously written off - -
Cash paid to employees (15,634,091) (13,296,810)
Cash paid to suppliers (246,011) (181,489)
Income taxes paid - -
Received from other operating activities 25,941 15,264,838
Payments for other operating activities (16,445,885) (10,435,374)
73,974,244 61,831,657
Decrease/(increase) in operating assets and liabilities
Statutory deposit - -
Trading securities - -
Loans, advances and leases to banks - -
Loans, advances and leases to customers (136,929,297) (117,162,372)
Investments 16,790,459 45,228,495
Other assets (3,615,941) 2,794,847
Deposit from other banks - -
Deposit from customers - -
Trading liabilities - -
Other liabilities 3,167,437 2,308,745
(120,587,342) (66,830,285)
Net cash used in operating activities (46,613,098) (4,998,628)

b. Cash flows from investing activities

Net cash received from sales of securities - -
Net cash paid for purchase of securities - -
Net cash received from sales of fixed assets 11,000 -
Net cash paid for purchase of fixed assets (430,400) (247,590)
Net cash received/(paid) for sale/purchase of subsidiaries - -
Net cash used in investing activities (419,400) (247,590)

c. Cash flows from financing activities

Cash received from loan and debt security - -
Cash paid against loan and debt security - -
Received against issuance of share 500,000,000 -
Received against investment equilization fund 12,240,200 -
Dividend paid - -
Net cash flow from financing activities 512,240,200 -
Effect of unrealised gain/(loss) on foreign exchange reserve on cash
and cash equivalent (668,936) 452,668
Net increase/(decrease) in cash and cash equivalents 464,538,766 (4,793,550)
Cash and cash equivalents at beginning of the year 453,767,324 458,560,874
Cash and cash equivalents at end of the year* 918,306,090 453,767,324

*Cash and cash equivalents at end of the year

Cash in hand 66,992 35,956
Balance with Bangladesh Bank 54,590 16,000
Balance with other banks and financial institutions 918,184,508 453,715,368
918,306,090 453,767,324

Dr. S. M. Akbar Md. Shafiqur Rahman Patwari Saeed Al Ameri

Managing Director Deputy Chairman Chairman

This is the Cash Flow Statement referred to in our report of even date.

Dhaka, ACNABIN

5
13 February 2013 Chartered Accountants

5
 The UAE-Bangladesh Investment Company Limited
Statement of Changes in Shareholders' Equity
For the year ended 31 December 2012

Figures are in Taka

Special Statutory Exchange Tax exemption Investment Proposed Retained
Particulars Share capital Total equity
reserve reserve fluctuation reserve reserve equilization fund Dividend earnings

Balance as at 01 January 2012 157,810,000 31,562,000 103,242,982 2,205,196 50,680,328 9,000,000 - 310,840,987 665,341,493

Changes during the year :

Net profit for the year 2012 - - - - - - - 82,830,602 82,830,602
Appropriation to special reserve - 16,566,120 - - - - - (16,566,120) -
Appropriation to statutory reserve - - 16,566,120 - - - (16,566,120) -
Appropriation to tax exemption reserve - - - - 17,601,503 (17,601,503)
Bonus dividend for 2012 342,190,000 (31,349,013) - - - - - (310,840,987) -
Proposed dividend for 2012 12,424,590 (12,424,590)
Unrealized foreign exchange gain/ (loss) - - - (668,936) - - - - (668,936)
Appropriation to tax exemption reserve - - - - - - - - -
Issue of new ordinary shares 500,000,000 - - - - - - - 500,000,000
Provision/adjustment on investment - - - - - 3,240,200 - - 3,240,200
Balance as at 31 December 2012 1,000,000,000 16,779,107 119,809,102 1,536,260 68,281,831 12,240,200 12,424,590 19,672,269 1,250,743,360

Balance as at 01 January 2011 157,810,000 31,562,000 154,107,724 1,752,528 28,274,900 - - 229,663,020 603,170,172

Changes during the year :

Net profit for the year 2011 - - - - - - - 52,718,653 52,718,653
Appropriation to special reserve - - - - - - - - -
Appropriation to statutory reserve - - 10,543,731 - - - - (10,543,731) -
Transfer to dividend payable account - - (61,408,473) - - - - 61,408,473 -
Unrealized foreign exchange gain/ (loss) - - - 452,668 - - - - 452,668
Appropriation to tax exemption reserve - - - - 22,405,428 - - (22,405,428) -
Provision on investment - - - - - 9,000,000 - - 9,000,000
Balance as at 31 December 2011 157,810,000 31,562,000 103,242,982 2,205,196 50,680,328 9,000,000 - 310,840,987 665,341,493

Dhaka, Dr. S. M. Akbar Md. Shafiqur Rahman Patwari Saeed Al Ameri

13 February 2013 Managing Director Deputy Chairman Chairman

6
 The UAE-Bangladesh Investment Company Limited
Liquidity Statement (Assets and Liability maturity analysis)
For the year ended 31 December 2012
[In compliance with DFIM Circular No. 06 dated 26-07-2011]

Period upto Period for Period for Period for Period for Period for Period for
Particulars On demand 1 month 1-2 months 2-3 months 3-6 months 6-12 months 1-3 years 3-5 years Over 5 years
Assets:
Cash in hand 66,992 - - - - - - -
Balance with banks & financial institutions - 307,234,562 - 611,004,536 - - - - -
Money at call and on short notice - - - - - - - -
Investment - - - - - - 13,707,375 - -
Loan, advances and lease - 5,400,781 2,365,207 12,601,825 20,623,356 40,590,821 201,716,930 37,542,270 -
Fixed assets - - - - - - - 644,349 -
Other assets - - 8,929,416 - - - - - 251,250
Non-banking assets - - - - - - - - -
Total assets (A) 66,992 312,635,343 11,294,623 623,606,361 20,623,356 40,590,821 215,424,305 38,186,619 251,250

Liabilities :
Borrowing from other banks, financial
institutions and agents - - - - - - - - -
Deposits and other accounts - - - - - - - - -
Other liabilities - 81,927 - - - 3,208,412 - 8,645,972 -
Total liabilities (B) - 81,927 - - - 3,208,412 - 8,645,972 -
Net liquidity gap 66,992 312,553,416 11,294,623 623,606,361 20,623,356 37,382,409 215,424,305 29,540,647 251,250

7
angladesh Investment Company Limited
tatement (Assets and Liability maturity analysis)
For the year ended 31 December 2012
iance with DFIM Circular No. 06 dated 26-07-2011]

figures in Taka

Total

66,992
918,239,098
-
13,707,375
320,841,190
644,349
9,180,666
-
1,262,679,670

-
-
11,936,311
11,936,311
1,250,743,359

7
 The UAE-Bangladesh Investment Company Limited
Notes to the Financial Statements
For the year ended 31 December 2012
1. The company and its activities

The UAE-Bangladesh Investment Company Limited, a non-banking financial institution having its registered office at Dhaka,
Bangladesh was incorporated on 11 June 1987 as a private limited company under the Companies Act 1913. The company
obtained license from Bangladesh Bank under the Financial Institutions Act 1993 on 18 December 1995.
The principal objective of the company for which it was established is to make investments in the form of equity, term
loan, lease finance, etc in financially viable projects in Bangladesh on commercial basis in all sectors of the economy.

2. Significant accounting policies

2.1 Basis of preparation of financial statements
These financial statements have been prepared under the historical cost convention in accordance with Bangladesh
Financial Reporting Standards, the Companies Act 1994, the Financial Institutions Act 1993, and other applicable
rules and regulations.
2.2 Accounting for term loan
This represents short-term and long-term finance made by the company. These term loans are recorded and
reported based on the accrual basis of accounting. Outstanding loans, along with the accrued interest thereon, are
accounted for as direct finance assets of the company.
2.3 Revenue recognition
Revenue is recognised on accrual basis in accordance with Bangladesh Accounting Standard-18.
2.4 Fixed assets and depreciation

Fixed assets are stated at cost less accumulated depreciation. Depreciation is charged using straight-line method at
the rates varying from 10% to 25% considering the estimated useful lives of the assets. Full year's depreciation is
charged on assets acquired within the first half of the year whereas half year's depreciation is charged for those
assets which are acquired in the second half of the year. Depreciation is charged on a proportionate time basis for
the disposal of assets in the second half of the year. However, no depreciation is charged on assets disposed in the
first half of the year. Maintenance and repairing costs are charged to revenue as and when incurred.

2.5 Share capital

Share capital of the company is stated in Bangladesh Taka in these accounts although this is denominated in US
Dollars in the share script and share register and also stated in the Memorandum and Articles of Association of the
company. The share money contribution in US Dollars has been translated into Bangladesh Taka at the rates ruling
on the dates of receipt of such money.
2.6 Foreign currency transactions

Foreign currency transactions are translated into Bangladesh Taka at the mid buying and selling rates prevailing on
the dates of transactions. Assets and liabilities in foreign currency at 31 December 2012 were translated into Taka at
the year end mid exchange rate.
2.7 Provision for unclassified loans, leases and advances
1% general provision is made on unclassified loans, leases and advances in accordance with Bangladesh Bank's FID
Circular no. 8 dated 03 August 2002.
2.8 Statutory reserve
This has been created as a statutory requirement in compliance with clause 6 of the Financial Institutions
Regulations 1994.

2.9 Post employment benefit

The company has recognized its gratuity obligation by creating a gratuity fund in order to comply with the
requirements of International Accounting Standard-19 and Employees' Service Rules.

2.10 Taxation

The company enjoyed tax exemption facility for a period of 10 years which expired in 2007. The company has also
obtained further tax exemption facility for an unlimited period with effect from 01-07-2012 as per SRO No. 313-
AIN/2012 dated 11-09-2012. However, as per a bi-lateral agreement dated 08-06-1987 between the Governments
of Bangladesh and UAE, the company has applied to concerned authorities for allowing tax exemption with
retrospective effect from 01-01-2008.

2.11 Earning per share

The company calculates Earning Per Share (EPS) in accordance with BAS-33: Earning Per Share, which has been
shown at the bottom of the Profit and Loss Account and the computation of EPS is stated in note # 22.
2.12 General
i. Figures have been rounded off to the nearest Taka.

8
ii. Previous year's figures have been rearranged wherever considered necessary to conform to the current year's
presentation.

9
 31.12.2012 31.12.2011
Taka Taka
3. Cash

Cash in hand 66,992 35,956

Balance with Bangladesh Bank and its agent bank 54,590 16,000
121,582 51,956

4. Balance with other banks and financial institutions

Local currency (Note : 4.1) 613,192,022 450,333,925

Foreign currency (Note : 4.2) 304,992,485 3,381,443
918,184,508 453,715,368

4.1 Local currency

Fixed deposit account (Note : 4.1.1) 348,301,641 170,753,445

Converted fixed deposit account (Note : 4.1.2) 262,702,895 275,839,443
Savings bank deposit account (Note : 4.1.3) 171,531 2,112,328
Short term deposit account (Note : 4.1.4) 2,015,956 1,628,709
613,192,022 450,333,925

4.1.1 Fixed deposit account

AB Bank Limited 55,734,492 19,635,599

Bank Asia Limited 9,324,773 7,197,519
Dhaka Bank Limited 189,067,251 5,150,000
NCC Bank Limited 66,213,081 78,481,670
Premier Bank Limited 5,416,342 4,795,638
Prime Bank Limited 1,292,447 36,904,145
Southeast Bank Limited 21,253,255 18,588,875
348,301,641 170,753,445

4.1.2 Converted fixed deposit account

AB Bank Limited 202,398,978 56,537,904

Bank Asia Limited - 40,428,997
Dhaka Bank Limited 47,260,268 84,643,411
NCC Bank Limited 13,043,650 -
Prime Bank Limited - 41,466,956
Southeast Bank Limited - 52,762,175
262,702,895 275,839,443

4.1.3 Savings bank deposit account

Bank Asia Limited 171,531 2,112,328

4.1.4 Short term deposit account

Bank Asia Limited 1,943,325 1,559,022

Eastern Bank Limited 72,631 69,687
2,015,956 1,628,709

4.2 Foreign currency

Eastern Bank Limited - US$ STD account 3,088,554 3,159,523

Eastern Bank Limited - US$ current account 214,938 221,919
Eastern Bank Limited - US$ fixed deposit 301,688,993 -
304,992,485 3,381,443

The USD fund was placed with Bangladesh Bank clearing account through Eastern Bank Ltd. The closing balance of USD
fund as on 31 December 2012 was US$ 3,819,573. It has been translated into Taka using the year end exchange rate of
Taka 79.8499 per US$.

9
 31.12.2012 31.12.2011
Taka Taka

5. Investment

Government securities - -
Other investment (Note : 5.1) 13,707,375 30,497,834
13,707,375 30,497,834

A schedule of investment is given in Annexure-A.

5.1 Other investment

Investment in unlisted shares (Note : 5.1.1) 10,240,200 27,000,000

Investment in listed shares (Note : 5.1.2) 3,467,175 3,497,834
13,707,375 30,497,834

5.1.1 Investment in unlisted shares

Basic Dredging Co. Ltd (102,402 Ordinary shares of Tk.100/= each) 10,240,200 27,000,000

An out of Court settlement agreement was executed between UBICO and BDCL for selling 270,000 ordinary shares of
BDCL owned by UBICO to BDCL promoters at a price of Tk 161.10 per share totalling Tk 43,497,000/=. As per agreement,
BDCL promoters paid Tk 27,000,000/- at one shot against 167,598 ordinary shares of BDCL. UBICO also received 3 (three)
advance cheques from BDCL promoters for remaining Tk 16,497,000/= against 102,402 ordinary shares of BDCL.

5.1.2 Investment in listed shares

Khulna Power Company Limited 3,467,175 3,497,834

The company also made an investment in 40,361 ordinary shares of Khulna Power Company Limited (KPCL) @ Tk.194.25
per share (face value of which is Tk 10/= per share) through IPO under the Book Building Method. UBICO has received
stock dividend of 6,054 ordinary shares in 2010, 9,283 ordinary shares in 2011, 11,924 ordinary shares in 2012 from KPCL.
As on 31 December 2012, the outstanding ordinary shares of KPCL in hand was 69,622. The net cost price and market
price of KPCL was Tk 50.24 and Tk 49.80 per share as on 31 December 2012. This loss has been recognized for in the
accounts.

6. Loans, leases and advances

Loans, leases and advances (Note : 6.1) 320,841,190 183,911,893

6.1 Loans, leases and advances

Term loan (Note : 6.1.1) 320,841,190 183,911,893

6.1.1 Term loan

Opening balance 183,911,893 66,749,521

Add: Disbursed during the year 190,000,000 150,000,000
373,911,893 216,749,521
Less: Realized during the year 53,070,703 32,837,628
320,841,190 183,911,893

6.1.1.1 Term loan - current portion

Opening balance 53,089,217 20,893,091

Add: Addition during the year 81,483,969 53,089,217
134,573,186 73,982,308
Less : Realized during the year 52,991,195 20,893,091
81,581,991 53,089,217

10
 31.12.2012 31.12.2011
Taka Taka

7. Fixed assets

A. Cost
Opening balance 6,327,946 6,681,929
Add: Addition during the year 430,400 247,590
6,758,346 6,929,519
Less: Disposal during the year 105,000 601,573
6,653,346 6,327,946
B. Accumulated depreciation
Opening balance 5,959,355 6,447,924
Add: Charged during the year 154,641 113,003
6,113,996 6,560,927
Less: Adjustment for disposal during the year 104,999 601,572
6,008,997 5,959,355
C. Written down value (A-B) 644,349 368,591

A schedule of fixed assets is given in Annexure- B.

8. Other assets

Advance, deposits and prepayments (Note : 8.1) 484,977 382,717

Income receivables (Note : 8.2) 8,695,689 5,182,008
9,180,666 5,564,725

8.1 Advance, deposits and prepayments (Note : 8.1.1)

Opening balance 382,717 312,434

Add: Addition during the year 1,591,697 1,642,933
1,974,414 1,955,367
Less: Adjusted during the year 1,489,437 1,572,650
484,977 382,717

8.1.1 Advance, deposits and prepayments

Advance rent 34,390 30,770

Loan to staff 39,171 62,697
Advance against salary 54,166 -
Withholding income tax on dividend/ interest 176,250 176,250
Other receivable and advance 106,000 40,000
Security deposits:
ISD telephones (3 nos.) 42,000 42,000
Fax 10,000 10,000
Mobile for officers (2 nos.) 10,000 10,000
Gulshan Service Station 10,000 10,000
Mobile (3 nos.) 3,000 1,000
484,977 382,717

8.2 Income receivables (Note : 8.2.1)

Opening balance 5,182,008 8,047,139

Add: Addition during the year 22,947,444 11,864,973
28,129,452 19,912,112
Less: Realized during the year 19,433,763 14,730,104
8,695,689 5,182,008

8.2.1 Income receivables

FDR 5,972,584 2,000,457

Converted FDR 650,528 819,051

11
 31.12.2012 31.12.2011
Taka Taka
US$ Account 225,702 -
Term loan 1,846,875 2,362,500
8,695,689 5,182,008

9. Liabilities

Other liabilities (Note : 9.1) 11,936,311 8,768,874

9.1 Other liabilities

Liabilities for expenses (Note : 9.1.1) 81,927 82,695

Provision for loans and investments (Note : 9.1.2) 3,208,412 1,839,119
Gratuity fund (Note : 9.1.3) 8,645,972 6,847,060
11,936,311 8,768,874

9.1.1 Liabilities for expenses

Telephone bill 12,927 13,695

Audit fees 69,000 69,000
81,927 82,695

9.1.2 Provision for loans and investments

Term loan (Note : 9.1.2.1) 3,208,412 1,839,119

9.1.2.1 Provision for term loans

Opening balance 1,839,119 667,495

Add: Provision made during the year 1,516,827 1,269,172
3,355,946 1,936,667
Less: Written back during the year 147,534 97,548
3,208,412 1,839,119

Provisions for unclassified loans and investments have been made as per FID circular no. 08 dated 03/08/2002 issued by
the Financial Institutions Department of Bangladesh Bank.

9.1.3 Gratuity fund

Opening balance 6,847,060 5,709,760

Add: Provision made during the year 1,798,912 1,137,300
8,645,972 6,847,060

As required by the Employees' Service Rules of the company, employees are entitled to get gratuity at specified rates as
stated therein. Accordingly, the Board of Directors has decided and approved to create a gratuity fund in its 29th meeting
held on 11th October 2009 in order to comply with the said requirement as well as with the requirements of International
Accounting Standard- 19.

12
10. Share capital
Authorised

15,250 ordinary shares of US$ 1,000 each.

% of Number of Amount in Amount in equivalent Taka

Name of shareholders
holding shares US$ 31.12.2012 31.12.2011

Abu Dhabi Fund for Development (ADF) 60% 9,150 9,150,000 600,000,000 300,000,000
Government of Bangladesh (GoB) 40% 6,100 6,100,000 400,000,000 200,000,000
100% 15,250 15,250,000 1,000,000,000 500,000,000

The amount of authorised capital in US Dollars has been translated into Bangladesh Taka.

Issued, subscribed and paid-up

15,250 ordinary shares of US$ 1,000 each fully paid.

The contributions by the sponsors towards share capital was as below:

% of Number of FEX Amount in equivalent Taka

Name of shareholders Amount in US$
holding shares Rate 31.12.2012 31.12.2011

A. Initial Contribution:

Abu Dhabi Fund for Development (ADF) 60% 3,000 3,000,000 32.27 96,810,000 96,810,000
Government of Bangladesh (GoB) 40% 2,000 2,000,000 30.50 61,000,000 61,000,000
100% 5,000 5,000,000 157,810,000 157,810,000

B. Bonus share issued:

Abu Dhabi Fund for Development (ADF) 60% 2,400 2,400,000 84.66 203,190,000 -
Government of Bangladesh (GoB) 40% 1,600 1,600,000 86.88 139,000,000 -
100% 4,000 4,000,000 342,190,000 -

C. New ordinary share issued:

Abu Dhabi Fund for Development (ADF) 60% 3,750 3,750,000 80.00 300,000,000 -
Government of Bangladesh (GoB) 40% 2,500 2,500,000 80.00 200,000,000 -
100% 6,250 6,250,000 500,000,000 -

D. Total Paid-up Capital (A+B+C):

Abu Dhabi Fund for Development (ADF) 60% 9,150 9,150,000 600,000,000 96,810,000
Government of Bangladesh (GoB) 40% 6,100 6,100,000 400,000,000 61,000,000
100% 15,250 15,250,000 1,000,000,000 157,810,000

The amount of paid-up capital in US Dollars has been translated into Bangladesh Taka at different rates at respective prevailing dates.

31.12.2012 31.12.2011
Taka Taka
11. Reserve & surplus
Statutory reserve (Note : 11.1) 119,809,102 103,242,982
Special reserve (Note : 11.2) 16,779,107 31,562,000
Investment equalization fund (Note : 11.3) 12,240,200 9,000,000
Foreign exchange fluctuation fund (Note : 11.4) 1,536,260 2,205,196
Tax exemption reserve (Note : 11.5) 68,281,831 50,680,328
Retained earnings (Note : 11.6) 19,672,269 310,840,987
Proposed dividend 12,424,590 -
250,743,360 507,531,493

The Board of Directors have proposed dividend @ 15% at its 42nd meeting held on 13 February 2013 and this proposed dividend have
been approved in 25th AGM held on the same date.

11.1 Statutory reserve

Opening balance 103,242,982 154,107,724

Add: Transfer during the year 16,566,120 10,543,731
119,809,102 164,651,455
Less: Amount transferred to retained earnings - 61,408,473
119,809,102 103,242,982

13
 This was created by transfer of post-tax profit in terms of clause 6 of the Financial Institution Regulation 1994.

31.12.2012 31.12.2011
Taka Taka
11.2 Special reserve

Opening balance 31,562,000 31,562,000

Add: Transfer during the year 16,566,120 -
48,128,120 31,562,000
Less: Payment of bonus (stock) dividend 31,349,013 -
16,779,107 31,562,000

This represents 20% of paid up capital of the company which was created from post tax profit as per requirement of clause 71 of
Articles of Association of the company. However, in order to raise paid-up capital of the company, Tk 31,349,013 was transferred
for payment of bonus dividend.

11.3 Investment equalization fund

Opening balance 9,000,000 -

Receipt of income equity investment during this year 12,240,200 16,450,000
Provision on investment - 9,000,000
21,240,200 25,450,000
Less: Amount adjusted during the year 9,000,000 16,450,000
12,240,200 9,000,000

11.4 Foreign exchange fluctuation fund

Opening balance 2,205,196 1,752,528

Add: Adjustment during the year (668,936) 452,668
1,536,260 2,205,196

The closing balance of USD fund as on 31 December 2012 was US$ 3,819,573. It has been translated into Taka using the year end
exchange rate. As on 31 December 2012, the exchange rate was Tk 81.38834 per US$ as per books of accounts and Taka 79.8499
per US$ as per market. Since the fluctuation exchange loss was unrealized and created only from translation of currency, it was
kept in Foreign exchange fluctuation fund.

11.5 Tax exemption reserve

Opening balance 50,680,328 28,274,900

Add: Addition during the year 17,601,503 22,405,428
68,281,831 50,680,328

11.6 Retained earnings

Opening balance 310,840,987 229,663,020

Add: Unappropriated profit for the year transferred from profit & loss account 82,830,602 19,769,494
Amount transferred from statutory reserve - 61,408,473
393,671,590 310,840,987
Less: Payment of bonus dividend 310,840,987 -
Amount transferred to statutory reserve 16,566,120 -
Amount transferred to special reserve 16,566,120 -
Amount transferred to tax exemption reserve 17,601,503 -
Amount transferred to proposed dividend 12,424,590 -
373,999,320 -
19,672,269 310,840,987

2012 2011
Taka Taka

12. Interest income on loan, lease and advance

Term loan (Note : 12.1) 24,939,101 15,399,287

Lease and other advances - -
24,939,101 15,399,287

14
 2012 2011
Taka Taka

12.1 Term loan

Grameen Fund - Phase 1 337,500 637,500

Grameen Fund -Phase 2 787,500 1,087,500
Midas Financing Limited - Phase 1 555,469 1,375,205
Midas Financing Limited - Phase 2 3,110,163 -
Venture Investment Partners Bangladesh Limited - Phase 1 1,524,217 1,953,060
Venture Investment Partners Bangladesh Limited - Phase 2 1,400,000 -
Harvest Rich Multiple Feed Mills Limited 2,535,993 3,343,799
IPDC of Bangladesh 4,101,807 3,552,223
Thengamara Mohila Sabuj Sangha (TMSS) 2,243,151 1,200,000
International Leasing and Financial Services Limited 4,223,904 2,250,000
LankaBangla Finance Limited 2,719,397 -
Bay Leasing & Investment Limited 1,400,000 -
24,939,101 15,399,287

13. Investment income

Investment in capital market:

LankaBangla Finance Limited - 538,333
Loss on investment in shares of Khulna Power Co. Ltd. (30,659) (1,728,495)
Profit on sale of ordinary shares :
Harvest Rich Limited - 16,450,000
Basic Dredging Co. Ltd. 9,000,000 -
8,969,341 15,259,838

14. Other operating income

Interest on deposit with banks (Note : 14.1) 81,335,189 55,081,204

Profit/(loss) on sale of fixed assets 10,999 -
Miscellaneous income 56,600 5,000
81,402,788 55,086,204

14.1 Interest on deposit with banks

Fixed deposit (Note : 14.1.1) 42,878,139 17,387,123

Converted fixed deposit (Note : 14.1.2) 35,724,791 37,498,816
Foreign currency deposit (Note : 14.1.3) 2,505,681 -
Short term deposit account (Note : 14.1.4) 112,621 80,443
Savings account (Note : 14.1.5) 113,957 114,823
81,335,189 55,081,204

14.1.1 Fixed deposit

AB Bank Limited 4,681,649 1,812,590

Bank Al Falah Limited - 5,737
Bank Asia Limited 7,745,247 1,635,474
Dhaka Bank Limited 10,397,848 568,498
NCC Bank Limited 9,774,934 5,558,586
Premier Bank Limited 632,697 1,564,916
Prime Bank Limited 2,548,659 3,426,923
Southeast Bank Limited 7,097,106 2,814,399
42,878,139 17,387,123
14.1.2 Converted fixed deposit
AB Bank Limited 12,661,359 6,590,150
Bank Al Falah Limited 368,390 7,539,299
Bank Asia Limited 1,197,709 4,829,375
Dhaka Bank Limited 7,678,917 4,296,953
NCC Bank Limited 2,650,073 -
Premier Bank Limited - 1,579,220
Prime Bank Limited 1,409,013 6,593,085
Southeast Bank Limited 9,759,330 6,070,735
15
 2012 2011
Taka Taka
35,724,791 37,498,816

14.1.3 Foreign currency deposit

Eastern Bank Limited 2,505,681 -

14.1.4 Short Term Deposit account

Bank Asia Limited 108,406 76,380

Eastern Bank Limited 4,215 4,063
112,621 80,443

14.1.5 Savings Account

Bank Asia Limited 113,957 114,823

15. Salaries & allowances

Basic salary 2,167,242 1,871,339

House rent allowance 1,729,828 1,442,962
Conveyance allowance 45,080 43,080
Utilities allowance 53,760 50,880
Medical allowance 89,160 81,960
Entertainment allowance 59,000 49,440
Special allowance 711,540 -
Personal staff subsidy 83,460 69,120
Company's contribution to employees' PF 551,136 518,960
Taxes on employees' remuneration 1,739,838 1,476,692
Bonus 420,726 720,646
Gratuity 1,798,912 1,137,300
Honorarium 72,000 72,000
Insurance-employees 206,489 156,511
9,728,171 7,690,890

16. Rent, taxes, insurances, electricity, etc.

Rent- office 818,120 731,240

Motor vehicles - taxes & insurance 48,792 62,014
Insurance- furniture & equipment 22,676 22,676
Electricity, water and gas 165,247 126,032
1,054,835 941,962

17. Legal and professional fees

Legal fees/ charges 4,610,425 2,901,699

Other professional fees 52,250 -
4,662,675 2,901,699

18. Postage, stamp, telecommunication, etc.

Telephone - office 124,980 122,934

Stamps and court fees 65,239 68,175
Postage and cables 114,347 92,879
304,566 283,988

19. Stationery, printing, advertisement

Printed stationery 122,081 55,350

Other stationery 123,930 126,139
Advertisement 70,000 15,000
316,011 196,489

16
 2012 2011
Taka Taka

20. Repairs, improvements and depreciation

Repairs, improvement & maintenance - motor vehicles 1,229,557 977,757

Repairs, improvement & maintenance - equipment & computer 402,650 266,837
Repairs, improvement & maintenance- furniture - 8,195
Repairs, improvement & maintenance- office premises 347,988 95,240
Depreciation- office equipment 38,864 34,985
Depreciation- computer equipment 76,563 38,803
Depreciation- furniture 27,243 27,242
Depreciation- leasehold improvements 11,972 11,973
Written off- fixed assets - 1
2,134,836 1,461,033

21. Other expenses

Books 4,095 2,900

Bank charges 16,208 8,085
Business development expenditure 568,024 599,628
CSR Expenses 2,333,500 -
Entertainment- office 71,923 58,906
Entertainment- business 204,479 98,545
Hotel expenses 228,412 133,814
Local conveyance 116,840 74,760
Motor vehicles - POL 1,013,964 866,784
Motor vehicles - other expenses 76,310 48,615
Office supplies 14,430 15,088
Subscription - newspaper & periodicals 41,283 38,935
Traveling - foreign 1,546,698 1,376,900
Traveling - inland 36,008 35,551
Training - officer & staff 61,490 27,500
Uniform 16,500 -
VAT & duty 402,304 192,262
Wages to casual workers 18,000 17,100
Miscellaneous expenses 104,852 56,949
6,875,320 3,652,322

22. Earnings Per Share (EPS)

Net profit after tax (Numerator) 82,830,602 52,718,653

Weighted Average Number of ordinary shares outstanding (Note : 22.1) 9,017 5,000
Earning Per Share (EPS) 9,185.92 10,543.73

Restated:
Net profit after tax (Numerator) 52,718,653
Number of ordinary shares outstanding (Denominator) 9,000
Earnings per share (EPS) 5857.63

22.1 Weighted average number of ordinary shares outstanding

Restated Weighted
Description Date Shares Restate shares Fraction of year average
Beginning balance 01-01-2012 5000 1.8 9000 182/366 4475
80% stock dividend 01-07-2012 4000
Adjusted balance 9000 9000 184/366 4525
Issued shares 31-12-2012 6250
Adjusted balance 15250 6250 1/365 17

17
 2012 2011
Taka Taka
9017

18
 23. Others

23.1 Board meeting and Directors' remuneration

An amount of Tk.5,000 is paid to a Director of the company as attendance fee for attending a meeting of the Board of
Directors. No other remuneration or special payment was made to the Directors for attending board meetings or
otherwise during the year 2012. Nothing is due from any Director of the Company as on the date of closing the accounts.
During the year under audit four Board of Directors' meetings were held.

23.2 Employees' details Year-2012 Year-2011

Permanent employees engaged for the whole year who received a total annual
13 10
remuneration of Taka 36,000 and above

23.3 Workers participation fund and welfare fund

SRO-336-AIN/2010 dated 5-10-2010, issued by Ministry of Labour and Employment and published in Bangladesh gazette
on 7-10-2010, declared the status of business of certain institutions and companies (like mobile operating companies,
mobile network service providing companies, all government and non-government money lending companies, all
insurance companies etc.) as "Industrial Undertakings" for the purpose of Chapter-XV of the Bangladesh Labor Act, 2006
which deals with the workers participation in company's profit by way of Workers Participation Fund and Welfare Fund
(WPFMF). The Bangladesh Labor Act, 2006 requires the "Industrial Undertakings" to maintain provision for workers profit
participation fund @ 5% on net profit. However, we have obtained legal opinion from legal advisor in this regard where it
has been stated that The UAE-Bangladesh Investment Company Limited does not fall under this category. Therefore, no
provision in this regard has been made in the financial statements during the year under audit.

23.4 Capital expenditure commitment

There was no capital expenditure commitment or contract at 31 December 2012. There was no material capital
expenditure authorized by the Board but not contracted for at 31 December 2012.

23.5 Directors' interest in contracts with the company

There was no transaction resulting in Directors' interest with the company and no leasing facilities have been made
available to the Directors.

23.6 Foreign remittances

No remittances was made in foreign currency on account of dividend, royalty, technical experts, professional advisor fees,
interest, etc.

23.7 Contingent liabilities

There have been no reportable material contracts, capital commitments, events or contingent liabilities subsequent to the
balance sheet date.

Dhaka Dr. S. M. Akbar Md. Shafiqur Rahman Patwari Saeed Al Ameri

13 February 2013 Managing Director Deputy Chairman Chairman

18
 Annexure- A
The UAE-Bangladesh Investment Company Limited
Investment
As at 31 December 2012

Figures are in Taka

Addition Realised
Opening Loss during Closing
Particulars during the during the
balance the year balance
year year

102,402 ordinary shares of Taka 100 each of Basic Dredging Co. Ltd. 27,000,000 - 16,759,800 - 10,240,200

69,622 ordinary shares of Taka 10 each of Khulna Power Co. Ltd. 3,497,834 - - 30,659 3,467,175

30,497,834 - 16,759,800 30,659 13,707,375

19
 Annexure - B
THE UAE- BANGLADESH INVESTMENT COMPANY LIMITED
Schedule of Fixed Assets
As at 31 December 2012

Figures are in Taka

COST DEPRECIATION
Written down
Rate
Particulars Balance as at Addition during Balance as at Balance as at Charged during Balance as at value as at
Sales % Adjustment
01.01.2012 the year 31.12.2012 01.01.2012 the year 31.12.2012 31.12.2012
Motor vehicles 2,693,517 - - 2,693,517 20 2,693,515 - - 2,693,515 2
Office equipment 1,217,197 64,100 105,000 1,176,297 15 1,026,358 38,864 104,999 960,223 216,074
Computer & accessories 878,105 332,400 - 1,210,505 25 822,403 76,563 - 898,965 311,540
Furniture 535,815 33,900 - 569,715 10 425,754 27,243 - 452,997 116,718
Other furnishing 62,680 - - 62,680 15 62,666 - - 62,666 14
Leasehold improvement 940,632 - - 940,632 25 928,659 11,972 - 940,631 1
Total 31 December 2012 6,327,946 430,400 105,000 6,653,346 5,959,355 154,641 104,999 6,008,997 644,349

Total 31 December 2011 6,681,929 247,590 601,573 6,327,946 6,447,924 113,003 601,572 5,959,355 368,591

20
The UAE- Bangladesh Investment Company Limited
Statements of Share Capital as at 31 December 2011

Authorised

12,500 ordinary shares of US$ 1,000 each

2011 2010
Name of shareholders % of Number Amount in Amount in Number Amount in
holding of Shares US$ Equivalent of shares US$
Taka

Abu Dhabi Fund for Development (ADF) 60% 7,500 7,500,000 300,000,000 7,500 7,500,000
Government of Bangladesh (GoB) 40% 5,000 5,000,000 200,000,000 5,000 5,000,000
100% 12,500 12,500,000 500,000,000 12,500 12,500,000

The amount of authorised capital in US Dollar has been translated into Taka at the rate of Taka 40.00.

Issued, subscribed and paid-up:

The initial contributions by the sponsors towards share capital was 40% of their respective obligations (5,000 ordinary shares of US$ 1,000
each).

November 30, 2011 2010

Name of shareholders % of Number Amount in Amount in Number Amount in
holding of Shares Equivalent of shares
US$ Taka US$

Abu Dhabi Fund for Development (ADF) 60% 3,000 3,000,000 96,810,000 3,000 3,000,000
Government of Bangladesh (GoB) 40% 2,000 2,000,000 61,000,000 2,000 2,000,000
100% 5,000 5,000,000 157,810,000 5,000 5,000,000

ADF's initial share money of US$ 3 million was translated into Taka at Taka 32.27 per US$ and GoB's initial share money of US Dollar 2
million was translated at Taka 30.50 per US$.

Uncalled/Unpaid capital:

7,500 ordinary shares of US Dollar 1,000 each. Details are as under:

% of Number Amounts in
holding
Name of shareholders of Shares US$

Abu Dhabi Fund for Development (ADF) 60% 4,500 4,500,000

Government of Bangladesh (GoB) 40% 3,000 3,000,000

100% 7,500 7,500,000
 Annexure - B

2010
Amount in
Equivalent
Taka

300,000,000
200,000,000
500,000,000

(5,000 ordinary shares of US$ 1,000

2010
Amount in
Equivalent
Taka

96,810,000
61,000,000
157,810,000

s initial share money of US Dollar 2

 Annexure- D
The UAE-Bangladesh Investment Company Limited

Advance, deposit and prepayments

As at 31 December 2011

Figures are in Taka

Opening Addition during Paid during the Closing

Particulars
balance the year year balance

Advance rent 27,150 396,933 393,313 30,770

Income tax deducted on dividend & interest income 176,250 - - 176,250
Loan to staff-interest bearing 26,034 50,000 13,337 62,697
Other receivable and advance - 1,175,000 1,135,000 40,000
Advance against salary 10,000 21,000 31,000 -
Security deposit:
ISD telephone 42,000 - - 42,000
Fax 10,000 - - 10,000
Mobile for officers 10,000 - - 10,000
Gulshan Service Station 10,000 - - 10,000
Mobile-Grameen Phone 1,000 - - 1,000
312,434 1,642,933 1,572,650 382,717

19
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011
FORMING AN INTEGRAL PART OF THE FINANCIAL STATEMENTS

1. The company and its activities

The UAE-Bangladesh Investment Company Limited, a non-banking financial institution having its registered office at Dhaka,
Bangladesh was incorporated on 11 June 1987 as a private limited company under the Companies Act 1913. The company
obtained license from Bangladesh Bank under the Financial Institutions Act 1993 on 18 December 1995.

The principal objective of the company for which it was established is to make investments in the form of equity, term loan, lease
finance, etc in financially viable projects in Bangladesh on commercial basis in all sectors of the economy.
2. Significant accounting policies

2.1 Basis of preparation of financial statements

These financial statements have been prepared under the historical cost convention in accordance Bangladesh Financial
Reporting Standards, the Companies Act 1994, the Financial Institutions Act 1993, and other applicable rules and
regulations.

2.2 Accounting for term loan

This represents short-term and long-term finance made by the company. These term loans are recorded and reported
based on the accrual basis of accounting. Outstanding loans, along with the accrued interest thereon, are accounted for as
direct finance assets of the company.

2.3 Revenue recognition

Revenue is recognised on accrual basis in accordance with Bangladesh Accounting standard-18.

2.4 Fixed assets and depreciation

Fixed assets are stated at cost less accumulated depreciation. Depreciation is charged using straight-line method at the
rates varying from 10% to 25% considering the estimated useful lives of the assets. Full year's depreciation is charged on
assets acquired within the first half of the year whereas half year's depreciation is charged for those assets which are
acquired in the second half of the year. Depreciation is charged on a proportionate time basis for the disposal of assets in
the second half of the year. However, no depreciation is charged on assets disposed in the first half of the year.
Maintenance and repairing costs are charged to revenue as and when incurred.

2.5 Share capital

Share capital of the company is stated in Bangladesh Taka in these accounts although this is denominated in US Dollars
in the share script and share register and also stated in the Memorandum and Articles of Association of the company.
The share money contribution in US Dollars has been translated into Bangladesh Taka at the rates ruling on the dates of
receipt of such money.

2.6 Foreign currency transactions

Foreign currency transactionsare translated into Bangladesh Taka at the mid buying and selling rates prevailing on the
dates of transactions. Assets and liabilities in foreign currency at 31 December 2010 were translated into Taka at the year
end mid exchange rate.

2.7 Provision for unclassified loans and investments

1% general provision is made on unclassified loans and investments in accordance with Bangladesh Bank's FID Circular
no. 8 dated 03 August 2002.
2.8 Statutory reserve

This has been created as a statutory requirement in compliance with clause 6 of the Financial Institutions Regulations
1994.

2.9 Post employment benefit

The company has recognized its gratuity obligation by creating a gratuity fund in order to comply with the requirements
of International Accounting Standard 19 and Employees' Service Rules.
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011

2.10 Taxation

The company enjoyed tax exemption facility for a period of 10 years which expired in 2007. As per a bi-lateral agreement
between the Governments of Bangladesh and UAE, the company has applied to the National Board of Revenue for
extension of the tax exemption period for a further period of 10 years upto 2017 which is now under process with the
highest authority of the country. However, the company has been maintaining a Tax Exemption Reserve every year in
this regard since 2008.

2.11 Earning per share

The company calculates Earning Per Share (EPS) in accordance with BAS-33: Earning Per Share, which has been shown
at the bottom of the Profit and Loss Account and the computation of EPS is stated in note # 22.

2.12 General

i. Figures have been rounded off to the nearest Taka.

ii. Previous year's figures have been rearranged wherever considered necessary to conform to the current year's
presentation.

31.12.2011 31.12.2010
Taka Taka
3. Cash

3.1 Cash in hand 35,956.07 22,404.07

3.2 Balance with Bangladesh Bank and its agent bank 16,000.00 6,400.00
51,956.07 28,804.07

4. Balance with other banks and financial institutions

Local Currency (Note : 4.1) 450,333,924.85 455,603,295.11
Foreign Currency (Note : 4.2) 3,381,442.71 2,928,774.39
453,715,367.56 458,532,069.50

4.1 Local Currency

Fixed deposit account: (Note : 4.1.1) 170,753,445.35 126,731,320.74
Converted fixed deposit account: (Note : 4.1.2) 275,839,442.97 325,567,565.65
Savings bank deposit account (Note : 4.1.3) 2,112,327.92 2,705,572.11
Short term deposit account (Note : 4.1.4) 1,628,708.61 493,970.63
Current Account (Note : 4.1.5) - 104,865.98
450,333,924.85 455,603,295.11

4.1.1 Fixed deposit account:

AB Bank Limited 19,635,599.02 -
Bank Al Falah Limited - 11,163,067.50
Bank Asia Limited 7,197,518.68 45,603,257.23
Dhaka Bank Limited 5,150,000.00 1,022,500.01
NCC Bank Limited 78,481,669.52 -
Premier Bank Limited 4,795,638.03 38,318,850.96
Prime Bank Limited 36,904,144.65 8,369,436.11
Southeast Bank Limited 18,588,875.45 22,254,208.93
170,753,445.35 126,731,320.74

4.1.2 Converted Fixed deposit account:

AB Bank Limited 56,537,903.85 50,000,000.00
Bank Al Falah Limited - 88,143,473.19
Bank Asia Limited 40,428,996.65 81,493,189.04
Dhaka Bank Limited 84,643,411.31 -
Eastern Bank Limited - -
Premier Bank Limited - 59,215,738.98
Prime Bank Limited 41,466,956.24 -
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011
Southeast Bank Limited 52,762,174.92 46,715,164.44
275,839,442.97 325,567,565.65

31.12.2011 31.12.2010
Taka Taka
4.1.3 Savings bank deposit account
AB Bank Limited - 7,363.52
Bank Asia Limited 2,112,327.92 2,697,324.10
Sonali Bank Limited - 884.49
2,112,327.92 2,705,572.11
4.1.4 Short term deposit account
AB Bank Limited - 4.68
Bank Asia Limited 1,559,021.80 426,870.67
Eastern Bank Limited 69,686.81 67,095.28
1,628,708.61 493,970.63
4.1.5 Current account
Dhaka Bank Limited - 104,865.98

- 104,865.98
4.2 Foreign Currency
Eastern Bank Limited - US$ STD account 3,159,523.35 2,736,563.02
Eastern Bank Limited - US$ current account 221,919.36 192,211.37
3,381,442.71 2,928,774.39
5. Investment
Government Securities - -
Other Investment (Note : 5.1) 30,497,834.40 75,726,329.25
30,497,834.40 75,726,329.25
5.1 Other Investment
Investment in unlisted shares (Note : 5.1.1) 27,000,000.00 50,500,000.00
Investment in listed shares (Note : 5.1.2) 3,497,834.40 25,226,329.25
30,497,834.40 75,726,329.25

5.1.1 Investment in unlisted shares

Harvest Rich Limited (235,000 Ordinary shares of Tk 100/= each) - 23,500,000.00
Basic Dredging Co. Ltd (270,000 Ordinary shares of Tk 100/= each) 27,000,000.00 27,000,000.00
27,000,000.00 50,500,000.00

5.1.2 Investment in listed shares

LankaBangla Finance Limited - 20,000,000.00
Khulna Power Company Limited 3,497,834.40 5,226,329.25
3,497,834.40 25,226,329.25

The company also made an investment in 40,361 ordinary shares of Khulna Power Company Limited (KPCL) @ Tk.194.25 per
share (face value of which is Tk 10/= per share through IPO under the Book Building Method. UBICO has received stock
dividend of 6,054 ordinary shares from KPCL during the year 2010. The net cost price and market price of KPCL was Tk.168.91
and Tk 112.60 per share as on 31 December 2010. This loss has ben recognised for in the accounts.

6. Loans, leases and advances:

Loans, leases and advances: (Note : 6.1) 183,911,892.74 66,749,520.74
Bills purchased and discounted - -
183,911,892.74 66,749,520.74
6.1 Loans, leases and advances:
Term Loan (Note : 6.1.1) 183,911,892.74 66,749,520.74
Lease - -
183,911,892.74 66,749,520.74
6.1.1 Term Loan
Opening Balance 66,749,520.74 78,393,091.00
Add: Disbursed during the year 150,000,000.00 20,000,000.00
216,749,520.74 98,393,091.00
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011
Less : Realized during the year 32,837,628.00 31,643,570.26
183,911,892.74 66,749,520.74

31.12.2011 31.12.2010
Taka Taka
6.1.1.1 Term Loan - Current Portion
Opening Balance 20,893,091.00 9,876,866.26
Add: Disbursed during the year 53,089,216.74 20,893,091.00
73,982,307.74 30,769,957.26
Less : Realized during the year 20,893,091.00 9,876,866.26
53,089,216.74 20,893,091.00

7. Fixed Assets net of depreciation

A. Cost
Opening Balance 6,327,945.89 6,681,929.03
Add : Addition during the year 430,400.00 247,590.00
6,758,345.89 6,929,519.03
Less: Sales during the year 105,000.00 601,573.14
6,653,345.89 6,327,945.89

B. Accumulated depreciation
Opening Balance 5,959,354.50 6,447,923.61
Add : Charged during the year 154,641.17 113,003.03
6,113,995.67 6,560,926.64
Less: Adjustment during the year 104,999.00 601,572.14
6,008,996.67 5,959,354.50
C. Written Down Value (A-B) 644,349.22 368,591.39

A schedule of fixed assets is given in Annexure-A.

8. Other Assets
Advance, Deposits and Prepayments (Note : 8.1) 382,717.00 312,434.00
Income Receivables (Note : 8.2) 5,182,008.22 8,047,138.69
5,564,725.22 8,359,572.69

8.1 Advance, Deposits and Prepayments (Note : 8.1.1)

Opening balance 312,434.00 370,408.30
Add: Addition during the year 1,642,933.00 22,032,625.70
1,955,367.00 22,403,034.00
Less: Received during the year 1,572,650.00 22,090,600.00
382,717.00 312,434.00
-
8.1.1 Advance, Deposits and Prepayments
Advance rent 30,770.00 27,150.00
Loan to staff 62,697.00 26,034.00
Advance against salary - 10,000.00
Withholding income tax on dividend/interest 176,250.00 176,250.00
Other receivable and advance 40,000.00 -
Security deposits:
ISD telephones (3 nos.) 42,000.00 42,000.00
Fax 10,000.00 10,000.00
Mobile for officers (2 nos.) 10,000.00 10,000.00
Securex (Pvt) Limited - -
Gulshan Service Station 10,000.00 10,000.00
Mobile - Grameen Phone 1,000.00 1,000.00
382,717.00 312,434.00
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011

31.12.2011 31.12.2010
Taka Taka

8.2 Income Receivables (Note : 8.2.1)

Opening balance 8,047,138.69 6,416,165.00
Add: Addition during the year 11,864,973.32 22,032,625.70
19,912,112.01 28,448,790.70
Less: Received during the year 14,730,103.79 22,090,599.70
5,182,008.22 6,358,191.00
-

8.2.1 Income Receivables

on FDR 2,000,457.26 1,353,399.53
on Converted FDR 819,050.96 781,239.16
on term loan 2,362,500.00 2,512,500.00
on Investment in Capital Market - 3,400,000.00
5,182,008.22 8,047,138.69
9. Liabilities
Borrowing from other banks, FI and agents - -
Deposit and other accounts - -
Other liabilities (Note : 9.1) 8,768,874 6,460,129
8,768,873.94 6,460,129.21
9.1 Other liabilities
Liabilities for Expenses (Note : 9.1.1) 82,695.00 82,874.00
Privileged Creditors (Note : 9.1.2) - -
Provision for Loans and Investments (Note : 9.1.3) 1,839,118.94 667,495.21
Gratuity Fund (Note : 9.1.4) 6,847,060.00 5,709,760.00
8,768,873.94 6,460,129.21
9.1.1 Liabilities for Expenses
Telephone bill 13,695.00 13,874.00
Audit Fees 69,000.00 69,000.00
82,695.00 82,874.00
9.1.2 Privileged Creditors
Income Tax deducted from Emp.'s Salary - -
Income Tax deducted from Office Rent - -
Income Tax deducted from legal/professional fees - -
VAT deducted at source - -
- -
9.1.3 Provision for Loans and Investments
Term Loan (Note : 9.1.3.1) 1,839,118.94 667,495.21
Investment - -
1,839,118.94 667,495.21
9.1.3.1 Provision for Term Loans

Opening Balance 667,495.21 575,000.00

Add : Provision made during the year 1,269,171.61 187,500.00
1,936,666.82 762,500.00
Less : Written back during the year 97,547.88 95,004.79
1,839,118.94 667,495.21

Provisions for unclassified loans and investments have been made as per FID circular no. 08 dated 03/08/2002
issued by the Financial Institutions Department of Bangladesh Bank.
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011

31.12.2011 31.12.2010
Taka Taka

9.1.3 Gratuity Fund

Opening Balance 5,709,760.00 4,684,322.00

Add : Provision made during the year 1,137,300.00 1,025,438.00
6,847,060.00 5,709,760.00
Less : Written back during the year - -
6,847,060.00 5,709,760.00

As required by the Employees' Service Rules of the company, employees are entitled to get gratuity at a specified rates as
stated therein. Accordingly, the Board of Directors has decided and approved to create a gratuity fund in its 29th meeting
held on 11th October 2009 in order to comply with the said requirement as well as with the requirements of International
Accounting Standard 19.

10. Share Capital

Details are in Annex B. 157,810,000.00 157,810,000.00

11. Reserve & surplus

Statutory reserve (Note : 11.1) 92,699,251.05 154,107,724.32

Special reserve (Note : 11.2) 31,562,000.00 31,562,000.00
Investment equalization fund (Note : 11.3) 9,000,000.00 -
Foreign exchange fluctuation fund (Note : 11.4) 2,205,196.02 1,752,527.70
Tax exemption reserve (Note : 11.5) 28,274,900.00 28,274,900.00
Retained earnings (Note : 11.6) #REF! 229,663,020.44
#REF! 445,360,172.46

11.1 Statutory reserve

Opening balance 154,107,724.32 148,021,230.32
Add: Transfer during the year 6,086,494.00
Less: Amount transferred to Retained Earnings (61,408,473.27) -
92,699,251.05 154,107,724.32

This was created by transfer of post-tax profit in terms of clause 6 of the Financial Institution
Regulation 1994.
11.2 Special reserve
Opening balance 31,562,000.00 31,562,000.00
Add: Transfer during the year - -

31,562,000.00 31,562,000.00

This represents 20% of paid up capital of the company which was created from post tax profit as per requirement of
clause 71 of Articles of Association of the company.

11.3 Investment equalization fund

Opening Balance - 6,500,000.00
Receipt of income equity investment during this year 16,450,000.00 31,225,000.00
Provision on Investment 9,000,000.00 -
Less: Amount adjusted during the year 16,450,000.00 37,725,000.00
9,000,000.00 -
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011

31.12.2011 31.12.2010
Taka Taka

11.4 Foreign exchange fluctuation fund

Opening Balance 1,752,527.70 1,690,668.39
Add: Addition during the year 452,668.32 61,859.31
2,205,196.02 1,752,527.70

11.5 Tax exemption reserve

Opening Balance 28,274,900.00 15,341,100.00
Add: Addition during the year - 12,933,800.00
28,274,900.00 28,274,900.00

11.6 Retained earnings

Opening Balance 229,663,020.44 218,250,843.33
Add: Unappropriated profit for the year transferred from P/L Account #REF! 11,412,177.11
Add: Amount transferred from Statutory Reserve 61,408,473.27 -
#REF! 229,663,020.44

12. Interest income on loan, lease and advance

Term Loan (Note : 12.1) 15,399,287.00 5,375,117.74

Lease and other advances
15,399,287.00 5,375,117.74

12.1 Term Loan

Grameen Fund -1 637,500.00 911,250.00
Grameen Fund -2 1,087,500.00 1,026,667.00
Midas Financing Limited 1,375,205.00 1,787,200.74
Venture Investment Partners Bangladesh Limited 1,953,060.00 1,650,000.00
Harvest Rich Multiple Feed Mills Limited 3,343,799.00 -
IPDC of Bangladesh 3,552,223.00 -
Thengamara Mohila Sabuj Sangha 1,200,000.00 -
International Leasing and Financial Services Limited 2,250,000.00 -
15,399,287.00 5,375,117.74

13. Investment income

Investment in capital market:

LankaBangla Finance Limited 538,333.33 3,447,222.22
Dividend income - 32,309.36
Loss on investment in shares of Khulna Power Co. Ltd. (1,728,494.85) (2,613,795.00)
Profit on sale of ordinary shares :
Confidence Salt Limited 7,725,000.00
Harvest Rich Limited 16,450,000.00 -
15,259,838.48 8,590,736.58

14. Other operating income

Interest on deposit with banks (Note : 14.1) #REF! 36,404,865.00

Interest on staff loan #REF! -
Profit/(Loss) on sale of fixed assets #REF! 2,197.00
Miscellaneous income #REF! 600.00
#REF! 36,407,662.00
#REF! -
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011

31.12.2011 31.12.2010
Taka Taka

14.1 Interest on deposit with banks

Fixed deposit (Note : 14.1.1) 17,387,122.66 7,319,857.33
Converted fixed deposit (Note : 14.1.2) 37,498,816.06 28,810,904.44
Foreign currency deposit (Note : 14.1.3) #REF! (82,619.00)
Short term deposit account (Note : 14.1.4) 80,442.92 93,304.70
Savings account (Note : 14.1.5) 114,822.57 263,417.53
#REF! 36,404,865.00

14.1.1 Fixed deposit

AB Bank Limited 1,812,589.52 -
Bank Al Falah Ltd. 5,736.58 1,111,056.26
Bank Asia Limited 1,635,474.27 3,505,773.14
Dhaka Bank Limited 568,497.64 401,550.40
NCC Bank Limited 5,558,586.27 -
Premier Bank Limited 1,564,916.03 1,550,039.45
Prime Bank Ltd. 3,426,922.93 69,745.30
Southeast Bank Limited 2,814,399.42 681,692.78
17,387,122.66 7,319,857.33

14.1.2 Converted Fixed deposit

AB Bank Limited 6,590,150.48 190,972.22
Bank Al Falah Ltd. 7,539,299.03 7,732,596.14
Bank Asia Limited 4,829,374.63 4,220,604.00
Dhaka Bank Limited 4,296,952.65 9,240,929.57
Premier Bank Limited 1,579,219.71 217,142.71
Prime Bank Ltd. 6,593,084.78 3,378,143.87
Southeast Bank Limited 6,070,734.78 3,830,515.93
37,498,816.06 28,810,904.44

14.1.3 Foreign currency deposit

Eastern Bank Limited #REF! (82,619.00)

14.1.4 STD Account

AB Bank Limited - 5.20
Bank Asia Limited 76,380.10 38,650.40
Eastern Bank Limited 4,062.82 54,649.10
80,442.92 93,304.70

14.1.5 Savings Account

Bank Asia Limited 114,822.57 263,417.53

15. Salaries & allowances

Basic salary #REF! 4,688,633.00
House rent allowance #REF! 2,300,670.00
Conveyance allowance #REF! 42,412.00
Utilities allowance #REF! 170,475.00
Medical allowance #REF! 138,288.00
Entertainment allowance #REF! 109,440.00
Personal Staff Subsidy #REF! 189,120.00
Company's contribution to Employees' PF #REF! 439,280.00
Taxes on employees' remuneration #REF! 1,114,385.00
Festival bonus #REF! 781,956.00
Gratuity #REF! 1,025,438.00
Honorarium #REF! 76,000.00
Insurance-Employees #REF! 156,511.00
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011
#REF! 11,232,608.00

31.12.2011 31.12.2010
Taka Taka

16. Rent, taxes, insurances & electricity etc.

Rent - Office #REF! 640,740.00
Rent - Residence #REF! -
Motor Vehicles - Taxes & Insurance #REF! 62,014.00
Insurance - Furniture & Equipment #REF! 22,676.00
Electricity/Water/Gas #REF! 118,057.00
#REF! 843,487.00

17. Legal and professional fees

Legal Fees/Charges #REF! 2,760,239.00
Other Professional Fees #REF! 497,863.00
#REF! 3,258,102.00

18. Postage, stamp, telecommunication etc.

Telephone - Office #REF! 123,374.00
Telephone - Residence #REF! -
Stamps and court fees #REF! 89,828.00
Postage and cables #REF! 63,444.69
#REF! 276,646.69

19. Stationery, printing, advertisement

Printed Stationery #REF! 31,799.00
Other Stationery #REF! 82,923.00
Advertisement #REF! 27,250.00
#REF! 141,972.00

20. Repairs, improvements and depreciation

Repairs, Improv. & Maint. - Motor Vehicles #REF! 652,085.00
Repairs, Impr. & Maint. - Equipment & Computer #REF! 340,736.00
Repairs, Impr. & Maint. - Furniture #REF! -
Repairs, Improv. & Maint. - Off. Premises #REF! 83,094.00
Depreciation - Motor Vehicles #REF! -
Depreciation - Equipment-Office #REF! 18,485.00
Depreciation - Equipment-Computer #REF! 48,008.75
Depreciation - Furniture #REF! 26,395.50
Depreciation - Furnishing #REF! -
Depreciation - Leasehold Improvements #REF! 11,972.90
Written off - Fixed Assets #REF! -
#REF! 1,180,777.15
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011

31.12.2011 31.12.2010
Taka Taka
21. Other expenses
Books #REF! 1,800.00
Bank Charges #REF! 11,101.92
Business Development Expenditure #REF! 419,111.00
Donations #REF! 10,000.00
Entertainment - Office #REF! 51,954.00
Entertainment - Business #REF! 62,122.00
Hotel Expenses #REF! 203,656.70
Local Conveyance #REF! 34,060.00
Motor Vehicles - POL #REF! 685,793.00
Motor Vehicles - Other Expenses #REF! 26,870.00
Office Supplies #REF! 12,625.00
Previous Years' Adj. A/C #REF! -
Subscription - Newspaper & Periodicals #REF! 37,175.00
Travelling - Foreign #REF! 966,343.00
Travelling - Inland #REF! 11,937.00
Training - Officer & Staff #REF! 25,150.00
Uniform #REF! 15,220.00
VAT & Duty #REF! 178,168.54
Wages to Casual Workers #REF! 14,400.00
Miscellaneous Expenses #REF! 33,470.00
#REF! 2,800,957.16

22. Earnings Per Share (EPS)

Net profit attributable to ordinary shareholders #REF! 30,432,471

Number of ordinary shares outstanding 5,000 5,000
Earning per Share #REF! 6,086

23 Others

23.1 Board meeting and Directors' remuneration

An amount of Tk.5,000 is paid to a Director of the company as attendance fee for attending a meeting of the Board of Directors.
No other remuneration or special payment was made to the Directors for attending board meetings or otherwise during the year
2010. Nothing is due from any Director of the Company as on the date of closing the accounts. During the year under audit four
Board of Directors' meetings were held.

23.2 Employees' details Year-2011 Year-2010

Permanent employees engaged for the whole year who received a total annual 10 9
remuneration of Taka 36,000 and above

23.3 Workers Participation Fund and Welfare Fund

SRO-336-AIN/2010 dated 5-10-2010 issued by Ministry of Labour and Employment and published in Bangladesh gazatte o 7-10-
2010 declared the status of business of certain institutions and companies (like mobile operating companies, mobile network
service providing companies, all government and non-government money lending companies, all insurance companies etc.) as
"Industrial Undertakings" for the purpose of Chapter-XV of the Bangladesh Labor Act, 2006 which deals with the workers
participation in company's profit by way of Workers Participation Fund and Welfare Fund (WPFMF). The Bangladesh Labor Act,
2006 requires the "Industrial Undertakings" to maintain provision for workers profit participation fund @ 5% on net profit.
However, we have obtained legal opinion from legal advisor in this regard where it has been stated that The UAE-Bangladesh
Investment Company Limited does not fall under this category. Therefore, no provision in this regard has been made in the
financial statements during the year under audit.
 service providing companies, all government and non-government money lending companies, all insurance companies etc.) as
"Industrial Undertakings" for the purpose of Chapter-XV of the Bangladesh Labor Act, 2006 which deals with the workers
participation in company's profit by way of Workers Participation Fund and Welfare Fund (WPFMF). The Bangladesh Labor Act,
2006 requires the "Industrial Undertakings" to maintain provision for workers profit participation fund @ 5% on net profit.
THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
However, we have obtained legal opinion from legal advisor in this regard where it has been stated that The UAE-Bangladesh
Investment Company Limited does not fall under this category. Therefore, no provision in this regard has been made in the
NOTES
financial statements TO THE
during FINANCIAL
the year STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011
under audit.

23.4 Capital expenditure commitment

There was no capital expenditure commitment or contract at 31 December 2010. There was no material capital expenditure
authorized by the Board but not contracted for at 31 December 2010.

23.5 Directors' interest in contracts with the company

There was no transaction resulting in Directors' interest with the company and no leasing facilities have been made available to
the Directors.

23.6 Foreign remittances

No remittances was made in foreign currency on account of dividend, royalty, technical experts, professional advisor fees,
interest, etc.

23.7 Contingent liabilities

There have been no reportable material contracts, capital commitments, events or contingent liabilities subsequent to the balance
sheet date.

Dr. S. M. Akbar Md. Safiqur Rahman Patwari Saeed Al Dhaheri

Managing Director Director Chairman

Dhaka
03 January, 2012
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
PROVISIONAL STATEMENT OF FINANCIAL POSITION (BALANCE SHEET)
As at December 31, 2011

Particulars Notes 31-12-2011 31-12-10

Taka Taka

PROPERTIES & ASSETS

Cash 3.0
Cash in hand 35,956.07 22,404.07
Balance with Bangladesh Bank 16,000.00 6,400.00
51,956.07 28,804.07

Balance with other banks and financial institutions 4.0

In Bangladesh 453,715,367.56 458,532,069.50
Outside Bangladesh - -
453,715,367.56 458,532,069.50

Money at call and short notice - -

Investments 5.0
Government Securities - -
Other Investment 30,497,834.40 75,726,329.25
30,497,834.40 75,726,329.25
Loans, leases and advances: 6.0
Loans, leases and advances 183,911,892.74 66,749,520.74
Bills purchased and discounted - -
183,911,892.74 66,749,520.74

Fixed Assets net of depreciation 7.0

At cost 6,653,345.89 6,327,945.89
Less: Accumulated depreciation 6,008,996.67 5,959,354.50
644,349.22 368,591.39

Other Assets 8.0 5,564,725.22 8,359,572.69

Non-Financial Institution assets - -
Total assets 674,386,125.21 609,764,887.64

LIABILITIES AND CAPITAL

Liabilities 9.0
Borrowing from other banks, FI and agents - -
Deposit and other accounts - -
Other liabilities 8,768,873.94 6,460,129.21
8,768,873.94 6,460,129.21
Capital and Shareholder's equity
Paid-up capital 10.0 157,810,000.00 157,810,000.00
Reserves and surplus 11.0 #REF! 445,360,172.46

#REF! 603,170,172.46
Total liabilities and shareholders equity #REF! 609,630,301.67
#REF! 134,585.97
 THE UAE- BANGLADESH INVESTMENT COMPANY LIMITED
PROVISIONAL STATEMENT OF COMPREHENSIVE INCOME (PROFIT AND LOSS ACCOUNT )
For the period upto December 31, 2011

Particulars Notes 31-12-2011 31-12-10

Taka Taka

Interest Income on loan, lease & advance 12.0 15,399,287.00 5,375,117.74

Interest paid on deposits & borrowings - -
Net interest income on investments 15,399,287.00 5,375,117.74
Investment Income 13.0 15,259,838.48 8,590,736.58
Commission, exchange and brokerage - -
Other operating income 14.0 #REF! 36,407,662.00
Total Operating Income #REF! 50,373,516.32

Salaries & allowances 15.0 #REF! 11,232,608.00

Rent, taxes, insurances & electricity etc. 16.0 #REF! 843,487.00
Legal and professional fees 17.0 #VALUE! 3,258,102.00
Postage, stamp, telecommunication etc. 18.0 #REF! 276,646.69
Stationery, printing, advertisement 19.0 #REF! 141,972.00
Managing director's salary & allowance - -
Director's fee and expenses #REF! 45,000.00
Auditor's fee #REF! 69,000.00
Charges on loan losses - -
Repairs, improvements and depreciation 20.0 #REF! 1,180,777.15
Other expenses 21.0 #REF! 2,800,957.16
Total Operating Expenses #REF! 19,848,550.00
Profit/(Loss) before provision #REF! 30,524,966.32

Provision for loans/investment

Specific provision - -
General Provision #REF! 92,495.21
Provision for diminution in value of investment - -
Other provision #REF! -
Total Provision #REF! 92,495.21
Profit/(Loss) before taxes #REF! 30,432,471.11
Provision for Taxes
Current Taxes - -
Deferred Taxes - -
- -
Profit/(Loss) after taxes #REF! 30,432,471.11
Earning per share 22.0 #REF! 6,086.49
 THE UAE- BANGLADESH INVESTMENT COMPANY LIMITED
CASH FLOW STATEMENT
For the period upto December 31, 2011

31-12-2011 31-12-10
Taka Taka

CASH FLOWS FROM OPERATING ACTIVITIES:

Interest received in cash #REF! 41,779,982.74

Interest paid in cash - -
Dividend received in cash #REF! 32,309.36
Fees and commission received - -
Recovery of loans previously written off - -
Cash paid to employees #REF! (11,232,608.00)
Cash paid to suppliers #REF! (114,722.00)
Income taxes paid - -
Received from other operating activities #REF! 8,620,886.53
Payments for other operating activities #REF! (8,388,216.97)
#REF! 30,697,631.66
Decrease/(Increase) in operating assets and liabilities

Statutory deposit - -
Trading securities - -
Loans, advances and leases to banks - -
Loans, advances and leases to customers (117,162,372.00) (9,249,520.74)
Investments 45,228,494.85 20,773,670.75
Other Assets 2,794,847.47 4,965,403.66
Deposit from other banks - -
Deposit from customers - -
Trading Liabilities - -
Other Liabilities 2,308,744.73 1,035,242.00

(66,830,284.95) 17,524,795.67
Net cash from operating activities #REF! 48,222,427.33

CASH FLOWS FROM INVESTING ACTIVITIES

Net cash received from sales of securities

Net cash paid for purchase of securities
Net cash received from sales of fixed assets - 4,900.00
Net cash paid for purchase of fixed assets (430,400.00) (30,400.00)
Net cash received/(paid) for sale/purchase of subsidiaries
(430,400.00) (25,500.00)

CASH FLOWS FROM FINANCING ACTIVITIES

Cash received from loan and debt security - -

Cash paid against loan and debt security - -
Cash received against issuance of share - -
Dividend Paid - (1,755,566.00)

Net cash used for Financing activities - (1,755,566.00)

Net Increase/(Decrease) in cash and cash equivalents #REF! 46,441,361.33
Cash and cash equivalents at beginning of the year 458,560,873.57 412,127,653.12
Cash and cash equivalents at end of the year* #REF! 458,569,014.45

*Cash and cash equivalents at end of the year

Cash in hand 35,956.07 22,404.07
Balance with Bangladesh Bank 16,000.00 6,400.00
Balance with other Banks and Financial Institutions 453,715,367.56 458,532,069.50
453,767,323.63 458,560,873.57
#REF! 8,140.88
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
PROVISIONAL STATEMENT OF FINANCIAL POSITION (BALANCE SHEET)
As at December 31, 2011

Particulars Notes 31-12-2011 31-12-10 Increase/ % of Increase/

Taka Taka (Decrease) (Decrease)

PROPERTIES & ASSETS

Cash 3.0
Cash in hand 35,956.07 22,404.07 13,552.00 60.49%
Balance with Bangladesh Bank 16,000.00 6,400.00 9,600.00 150.00%
51,956.07 28,804.07 23,152.00 80.38%

Balance with other banks and financial institution 4.0

In Bangladesh 453,715,367.56 458,532,069.50 (4,816,701.94) -1.05%
Outside Bangladesh - - - 0.00%
453,715,367.56 458,532,069.50 (4,816,701.94) -1.05%

Money at call and short notice - - - -

Investments 5.0
Government Securities - - - 0.00%
Other Investment 30,497,834.40 75,726,329.25 (45,228,494.85) -59.73%
30,497,834.40 75,726,329.25 (45,228,494.85) -59.73%
Loans, leases and advances: 6.0
Loans, leases and advances 183,911,892.74 66,749,520.74 117,162,372.00 175.53%
Bills purchased and discounted - - - 0.00%
183,911,892.74 66,749,520.74 117,162,372.00 175.53%

Fixed Assets net of depreciation 7.0

At cost 6,653,345.89 6,327,945.89 325,400.00 5.14%
Less: Accumulated depreciation 6,008,996.67 5,959,354.50 49,642.17 0.00%
644,349.22 368,591.39 275,757.83 74.81%

Other Assets 8.0 5,564,725.22 8,359,572.69 (2,794,847.47) -33.43%

Non-Financial Institution assets - - - -
Total assets 674,386,125.21 609,764,887.64 64,621,237.57 10.60%

LIABILITIES AND CAPITAL

Liabilities 9.0
Borrowing from other banks, FI and agents - - - 0.00%
Deposit and other accounts - - - 0.00%
Other liabilities 8,768,873.94 6,460,129.21 2,308,744.73 35.74%
8,768,873.94 6,460,129.21 2,308,744.73 35.74%
Capital and Shareholder's equity
Paid-up capital 10.0 157,810,000.00 157,810,000.00 - 0.00%
Reserves and surplus 11.0 #REF! 445,360,172.46 #REF! 0.00%
#REF! 603,170,172.46 #REF! #REF!
Total liabilities and shareholders equity #REF! 609,630,301.67 #REF! #REF!
#REF! 134,585.97 #REF! #REF!

1 Capital Gap:
i Capital Requirement 500,000,000.00
ii Existing Capital 157,810,000.00
iii Gap (i-ii) 342,190,000.00

2 Capital Gap projected to be filled up by:

Retained earnings (RE) 342,190,000.00
3 Net Gap (1-2) -

4 Avaiable Retained Earnings after raising of Capital

i Retained earnings before raising capital #REF!
ii Transfer to capital 342,190,000.00
iii Retained earnings after raising capital (i-ii) #REF!

THE UAE- BANGLADESH INVESTMENT COMPANY LIMITED

PROVISIONAL STATEMENT OF COMPREHENSIVE INCOME (PROFIT AND LOSS ACCOUNT )
For the period upto December 31, 2011

Particulars Notes 31-12-2011 31-12-10 Increase/ % of Increase/

Taka Taka (Decrease) (Decrease)

Interest Income on loan, lease & advance 12.0 15,399,287.00 5,375,117.74 10,024,169.26 186.49%
Interest paid on deposits & borrowings - - - 0.00%
Net interest income on investments 15,399,287.00 5,375,117.74 10,024,169.26 186.49%
Investment Income 13.0 15,259,838.48 8,590,736.58 6,669,101.90 77.63%
Commission, exchange and brokerage - - - 0.00%
Other operating income 14.0 #REF! 36,407,662.00 #REF! #REF!
Total Operating Income #REF! 50,373,516.32 #REF! #REF!

Salaries & allowances 15.0 #REF! 11,232,608.00 #REF! #REF!

Rent, taxes, insurances & electricity etc. 16.0 #REF! 843,487.00 #REF! #REF!
Legal and professional fees 17.0 #VALUE! 3,258,102.00 #VALUE! #VALUE!
Postage, stamp, telecommunication etc. 18.0 #REF! 276,646.69 #REF! #REF!
Stationery, printing, advertisement 19.0 #REF! 141,972.00 #REF! #REF!
Managing director's salary & allowance - - - 0.00%
Director's fee and expenses #REF! 45,000.00 #REF! #REF!
Auditor's fee #REF! 69,000.00 #REF! #REF!
Charges on loan losses - - - 0.00%
Repairs, improvements and depreciation 20.0 #REF! 1,180,777.15 #REF! #REF!
Other expenses 21.0 #REF! 2,800,957.16 #REF! #REF!
Total Operating Expenses #REF! 19,848,550.00 #REF! #REF!
Profit/(Loss) before provision #REF! 30,524,966.32 #REF! #REF!

Provision for loans/investment

Specific provision - - - 0.00%
General Provision #REF! 92,495.21 #REF! #REF!
Provision for diminution in value of investment - - - 0.00%
Other provision - - - 100.00%
Total Provision #REF! 92,495.21 #REF! #REF!
Profit/(Loss) before taxes #REF! 30,432,471.11 #REF! #REF!
Provision for Taxes
Current Taxes - - - 0.00%
Deferred Taxes - - - 0.00%
- - - 0.00%
Profit/(Loss) after taxes #REF! 30,432,471.11 #REF! #REF!
Earning per share 22.0 #REF! 6,086.49 #REF! #REF!
 THE UAE- BANGLADESH INVESTMENT COMPANY LIMITED
CASH FLOW STATEMENT
For the period upto December 31, 2011

31-12-2011 31-12-10 Increase/ % of Increase/

Taka Taka (Decrease) (Decrease)

CASH FLOWS FROM OPERATING ACTIVITIES:

Interest received in cash #REF! 41,779,982.74 #REF! #REF!

Interest paid in cash - - - 0.00%
Dividend received in cash #REF! 32,309.36 #REF! 0.00%
Fees and commission received - - - 0.00%
Recovery of loans previously written off - - - 0.00%
Cash paid to employees #REF! (11,232,608.00) #REF! 0.00%
Cash paid to suppliers #REF! (114,722.00) #REF! 0.00%
Income taxes paid - - - 0.00%
Received from other operating activities #REF! 8,620,886.53 #REF! #REF!
Payments for other operating activities #REF! (8,388,216.97) #REF! #REF!
#REF! 30,697,631.66 #REF! #REF!
Decrease/(Increase) in operating assets and liabilities

Statutory deposit - - - 0.00%

Trading securities - - - 0.00%
Loans, advances and leases to banks - - - 0.00%
Loans, advances and leases to customers (117,162,372.00) (9,249,520.74) (107,912,851.26) 1166.69%
Investments 45,228,494.85 20,773,670.75 24,454,824.10 117.72%
Other Assets 2,794,847.47 4,965,403.66 (2,170,556.19) -43.71%
Deposit from other banks - - - 0.00%
Deposit from customers - - - 0.00%
Trading Liabilities - - - 0.00%
Other Liabilities 2,308,744.73 1,035,242.00 1,273,502.73 123.01%

(66,830,284.95) 17,524,795.67 (84,355,080.62) -481.35%

Net cash from operating activities #REF! 48,222,427.33 #REF! #REF!

CASH FLOWS FROM INVESTING ACTIVITIES

Net cash received from sales of securities - - - 0.00%

Net cash paid for purchase of securities - - - 0.00%
Net cash received from sales of fixed assets - 4,900.00 (4,900.00) -100.00%
Net cash paid for purchase of fixed assets (430,400.00) (30,400.00) (400,000.00) 1315.79%
Net cash received/(paid) for sale/purchase of subsidiaries - - - 0.00%
(430,400.00) (25,500.00) (404,900.00) 1587.84%

CASH FLOWS FROM FINANCING ACTIVITIES

Cash received from loan and debt security - - - 0.00%

Cash paid against loan and debt security - - - 0.00%
Cash received against issuance of share - - - 0.00%
Dividend Paid - (1,755,566.00) 1,755,566.00 -100.00%

Net cash used for Financing activities - (1,755,566.00) 1,755,566.00 -100.00%

Net Increase/(Decrease) in cash and cash equivalents #REF! 46,441,361.33 #REF! #REF!
Cash and cash equivalents at beginning of the year 458,560,873.57 412,127,653.12 46,433,220.45 11.27%
Cash and cash equivalents at end of the year* #REF! 458,569,014.45 #REF! #REF!

*Cash and cash equivalents at end of the year

Cash in hand 35,956.07 22,404.07 13,552.00 60.49%
Balance with Bangladesh Bank 16,000.00 6,400.00 9,600.00 150.00%
Balance with other Banks and Financial Institutions 453,715,367.56 458,532,069.50 (4,816,701.94) -1.05%
453,767,323.63 458,560,873.57 (4,793,549.94) -1.05%
#REF! 8,140.88 #REF! #REF!
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
PROVISIONAL STATEMENT OF AFFAIRS
As at November 30, 2011

Particulars Notes 30-11-11 31-12-10

Taka Taka

TANGIBLE FIXED ASSETS:

At cost 3.00 6,653,345.89 6,327,945.89

Less: Accumulated depreciation 3.00 6,008,996.67 5,959,354.50
644,349.22 368,591.39

LOANS AND INVESTMENTS:

Investment in Shares- at cost 4.00 1,936,666.82 762,500.00

Investment in Capital Market 5.00 - 6,086,494.00
Term Loan 6.00 - -
1,936,666.82 6,848,994.00
Investment Equilization Fund 7.00 (61,408,473.27) -
Provision for "Un-classified Loans and Investments" 8.00 - -
(59,471,806.45) 6,848,994.00

CURRENT ASSETS:

Current Portion of Term Loan 9.00 #REF! #REF!

Advance, Deposits & Prepayments 10.00 #REF! #REF!
Income Receivable 11.00 #REF! #REF!
Short Term Deposit 12.00 #REF! #REF!
Cash and cash equivalents 13.00 #REF! #REF!
#REF! #REF!

LESS: CURRENT LIABILITIES:

Liabilities for Expenses 14.00 #REF! #REF!

Priviledged Creditors 180,408.00 -
Employees Provident Fund - -
#REF! #REF!
NET CURRENT ASSETS #REF! #REF!
NET ASSETS #REF! #REF!

FINANCED BY:

Share Capital 15.00 157,810,000.00 157,810,000.00

Reserves and Surplus:
Special Reserve 16.00 #REF! #REF!
Statutory Reserve 17.00 #REF! #REF!
Retained Earnings 18.00 #REF! #REF!
Foreign Exchange Fluctuation Fund 19.00 #REF! #REF!
Tax Exemption Reserve 20.00 #REF! #REF!
Proposed Dividend 21.00 #REF! #REF!
Gratuity Fund 22.00 #REF! #REF!
#REF! #REF!
TOTAL SHAREHOLDERS' EQUITY #REF! #REF!

#REF! #REF!
 THE UAE- BANGLADESH INVESTMENT COMPANY LIMITED
PROFIT AND LOSS ACCOUNT
For the period upto September 30, 2011

Particulars Notes 30-11-11 31-12-10

Taka Taka

Revenue :
Interest earned on term loan #REF! 5,375,117.74
Dividend Income #REF! 32,309.36
Profit on sale of equity investment/Capital Gain #REF! 7,725,000.00
Other Investment Income #REF! 833,427.22
Interest on deposit with banks:
Fixed deposits 23.00 #REF! #REF!
Converted fixed deposits 24.00 #REF! #REF!
Foreign Currency deposits 25.00 #REF! #REF!
STD account #REF! 93,304.70
Savings account #REF! 263,417.53
Interest earned on staff loan #REF! -
Foreign Exchange gain #REF! -
Profit on sale of Fixed Assets #REF! 2,197.00
Miscellaneous income #REF! 600.00
#REF! #REF!
Less : Expenditures :
Salaries and allowances 26.00 #REF! #REF!
Other Administrative Expenses 27.00 #REF! #REF!
Audit fee #REF! 69,000.00
Legal & Professional Fees #VALUE! 3,258,102.00
Donation #REF! 10,000.00
Bank Charges #REF! 11,101.92
Depreciation & Written Off #VALUE! 104,862.15
Provision for "Un-classified Loans and Investments" #REF! 92,495.21
Miscellaneous Expenses #REF! 33,470.00
#REF! #REF!
Net Profit for the year #REF! #REF!
Earning per share #REF! #REF!
 THE UAE- BANGLADESH INVESTMENT COMPANY LIMITED
CASH FLOW STATEMENT
For the period upto September 30, 2011

30-11-11 31-12-10
Taka Taka

CASH FLOWS FROM OPERATING ACTIVITIES:

Net profit for the year #REF! 30,432,471.11

Adjustment of non-cash items:
Depreciation #VALUE! 113,003.03
Gratuity #REF! 1,025,438.00
Reversal of profit on proceeds of equity Investment #REF! -
Profit on sale of fixed assets #REF! (2,197.00)
Loss/(Gain) on Foreign Exchange - 61,859.31
#VALUE! 31,630,574.45
Decrease/(Increase) in Current Assets
Advance, deposits & prepayments #REF! 57,974.00
Short Term Deposit #REF! #REF!
Interest receivable #REF! (1,630,973.97)
#REF! #REF!
Increase/(Decrease) in liabilities
Liabilities for expenses #REF! 9,804.00
Priviledged Creditors 180,408.00 -
Provision for doubtful debt on investment - 92,495.21
#REF! 102,299.21
Net cash from operating activities #VALUE! #REF!

CASH FLOWS FROM INVESTING ACTIVITIES

Recovery of Investment in Capital Market 6,086,494.00 (5,226,329.25)

Realisation of Equity Investment #REF! 32,500,000.00
Adjustment Investment Equilization Fund 61,408,473.27 (6,500,000.00)
Investment in Term Loan (130,000,000.00) (20,000,000.00)
Realisation of Term Loan Installment 13,070,122.00 10,750,479.26
Net proceeds from Sales of Fixed Assets - 4,900.00
Acquision of fixed Assets (430,400.00) (30,400.00)
Net cash from investing activities #REF! 11,498,650.01

CASH FLOWS FROM FINANCING ACTIVITIES

Dividend Paid #REF! (1,755,566.00)

Net cash used for Financing activities #REF! (1,755,566.00)

Net Increase/(Decrease) in cash and cash equivalents #VALUE! #REF!
Cash and cash equivalents at beginning of the year #REF! 412,127,653.12
Cash and cash equivalents at end of the year #VALUE! #REF!

#REF! #REF!
NY LIMITED

30-09-10
Taka

6,734,769.03
6,472,523.97
262,245.06

88,340,124.25
20,000,000.00
67,623,133.74
175,963,257.99
(7,725,000.00)
(705,431.00)
167,532,826.99

2,919,917.26
1,162,160.00
4,018,937.25
6,538,403.64
412,459,382.52
427,098,800.67

29,217.00
362,266.00
-
391,483.00
426,707,317.67
594,502,389.72

157,810,000.00

31,562,000.00
148,021,230.32
235,393,069.01
1,690,668.39
15,341,100.00
-
4,684,322.00
436,692,389.72
594,502,389.72

-
NY LIMITED

30-09-10
Taka

4,337,753.00
32,309.36
47,222.22
-

4,662,169.74
21,104,797.38
(82,619.00)
77,329.10
197,712.47
-
-
-
-
30,376,674.27

7,421,895.00
3,710,442.38
1,854,703.00
-
10,000.00
4,755.70
79,325.51
130,431.00
22,896.00
13,234,448.59
17,142,225.68
3,428.45
NY LIMITED
UBICO

THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED DECEMBER 31, 2011
FORMING AN INTEGRAL PART OF THE FINANCIAL STATEMENTS

1. The Company and its :

(a) Domicile, Legal Form and Country of Incorporation:

The UAE-Bangladesh Investment Company Limited (UBICO) is a joint venture non-banking financial institution domiciled in Bangladesh.
The company was established vide a bilateral agreement between two brotherly Governments i.e. the Government of People's Republic of
Bangladesh and Government of U.A.E. (through its integral part Abu Dhabi Fund For Development). The company was incorporated in
Bangladesh as a private limited company on June 11, 1987 under the Companies Act, 1913. The Company also obtained license from
Bangladesh Bank under the Financial Institutions Act, 1993 on December 18, 1995. The registered office of the company is at Erectors
House (5th floor), 18 Kemal Ataturk Avenue, Banani C/A, Dhaka.

(b) Principal Activities:

The main objective of the company is to make investments in financially viable projects in Bangladesh on commercial basis in all sectors of
the economy. UBICO mainly emphasizing in providing long term and short term investment financing, project financing, lease financing,
equity participation, private placement, investment in secondary capital market, participation in syndication finance and asset backed
securitization through Zero Coupon Bond etc. The company provides the following services to the customers as on December 31, 2008 :

i. Equity Finance
ii. Term Finance
iii. Lease Finance

2. Significant Accounting Policies :

(a) Measurement Bases used in preparing the Financial Statements:

The elements of financial statements have been measured on Historical Cost Basis on Generally Accepted Accounting Principles and in
accordance with the International Accounting Standard adopted by the Institute of Chartered Accountants of Bangladesh (ICAB).

(b) Basis of accounting:

The financial statements have been prepared in accordance with the Companies Act, 1994, the Financial Institutions Act, 1993, Securities
and Exchange Rules 1987, BASEL II Guidelines, International Financial Reporting Standards (IFRS), International Accounting Standards
(IAS) as adopted by Institute of Chartered Accountants of Bangladesh and Central Bank’s regulations as framed from time to time.

(c) Books of accounts - Reporting Currency and level of precision :

Accounts are maintained in Taka currency which have been rounded off to the neartest Taka.

(d) Accounting for leases

The nature of the company's leases is basically finance lease. As such, its books of account and accounting for such lease finance are
maintained on finance lease method of accounting. Accordingly, principal amount due and interest accrued thereon are accounted for as
receivable and shown under current asets of the company. Interest on lease finance as and when due are recognised on accrual basis as
operational revenue.

(e) Accounting for Term Loan :

This represents short-term and long-term finance, books of account where for are maintained based on the accrual method of accounting.
Outstanding loans, alongwith the accrued interest thereon, are accounted for as direct finance assets of the company. Interest earnings
are recognized as operational revenue periodically.

(f) Revenue Recognition

"Revenue" and "Expenditure" of the Company for the year have been accounted for on an accrual basis.

(g) Tangible Fixed Asets :

i. Tangible fixed assets are stated at cost less accumulated depreciation.

ii. Depreciation has been charged using straight-line method at the rate varying 10% to 20% considering the estimated useful lives of the
asets.
iii. In case of acquisition of fixed assets :
- In the first half of the year, depreciation has been charged for the full year.
- In the second half of the year, depreciation has been charged for the half year.
iv. In case of disposal of fixed assets :
- In the first half of the year, no depreciation has been charged for the full year.
- In the second half of the year, depreciation has been charged on prportionate time basis.
v. Maintenance and repairing costs are charged to expenses as and when incurred.
UBICO

Page - 7

(h) Share Capital :

The share capital of the company has been expressed in the accounts in Taka currency although the share capital is denominated in US
Dollar in the share script, share register as described in the Memorandum and Articles of Association of the company. The share money
contribution in US Dollar has been translated into taka at the rate ruling on the date of receipt of such money and the capital of the
company is maintained in the accounts accordingly and the exchange rate ruling at the balance sheet date has not been considered in
these financial statements.

(i) Foreign Currency Translation and Transaction :

Foreign currency transactions are translated into Taka Currency at the mid buying and selling rate prevailing at the transactions date and
the closing balances of assets and liabilities in foreign currency at December 31, 2008 have been transaletd into Taka currency at the year
end mid rate of exchange at 31 December, 2008.

(j) Provision for "Un-Classified Loans and Investment":

1% Provision for Loans and Investment has been made for "Un-Classified Loans and Investments" in accordance with guideline given in
Bangladesh Bank, FID Circular # 8 dated 03-08-2002.

(k) Statutory Reserve:

This has been created as a statutory requirement in compliance with clause 6 of the Financial Institutions Regulations, 1994.

(l) Post Employment Benefit:

Since the Board of Directors of the company has discretionery power to approve post employment benefits, the company has not made
any provision in this regard.

(m) Compliance with Local Laws :

The financial statements have been prepared in compliance with requirements of the Companies Act, 1994, Financial Institutions Act, 1993
and other relevant local laws and rules.

(n) Deferred Tax:

Since the company enjoys tax exemption as per gazatte notification no. 2(1) kar-1/89 dated 25 January 1990 and appeal decision
notification no. 153(3)-2/Ayeen/99/2000/332(3) dated 6 September 1999 of the Appellate Commissioner of Taxes, Taxes Zone-3, the
deferred tax policy has not been adopted yet as per International Accounting Standard 12 as adopted by the Chartered Accountants of
Bangladesh (ICAB).

(o) Reporting Period:

Financial statements of the company cover one calendar year from 1st January to 31st December consistently.

Page - 8
UBICO

4. Investment in Shares-At Cost- Tk 27,000,000.00

2011 2010
Taka Taka

235,000 Ordinary shares of Tk 100/= each of Harvest Rich Limited - 23,500,000.00

270,000 Ordinary shares of Tk 100/= each of Basic Dredging Co. Ltd 27,000,000.00 27,000,000.00
3,000,000 Ordinary shares of Tk 10/= each of Bangla-German Latex Co. Ltd - -
250,000 Ordinary shares of Tk 100/= each of Confidence Salt Ltd - -

27,000,000.00 50,500,000.00

5. Investment in Capital Market- Tk 5,226,329.25

2011 2010
Taka Taka

LankaBangla Finance Ltd. - 20,000,000.00

46,415 Ordinary shares of Tk ---------- each of KPCL 5,226,329.25 5,226,329.25
5,226,329.25 25,226,329.25

6. Lease Finance - Tk -
2011 2010
Taka Taka

Lease Finance - Long Term Portion - -

- -

7. Term Loan - Long Term portion Tk 168,542,353.74

2011 2010
Taka Taka

Grameen Fund - 1st Phase - Long Term Portion 12,500,000.00 12,500,000.00

Grameen Fund - 2nd Phase - Long Term Portion 20,000,000.00 20,000,000.00
MIDAS Financing Limited - Long Term Portion 15,123,133.74 15,123,133.74
Venture Investment Partners Bangladesh Limited 20,000,000.00 20,000,000.00
Harvest Rich Multiple Feed Mills Limited 40,000,000.00 -
IPDC of Bangladesh Limited 40,000,000.00 -
TMSS 20,000,000.00
International Leasing and Financial Services Ltd 30,000,000.00
197,623,133.74 67,623,133.74
Less : Amount realised during the year 8,187,689.00 873,613.00
189,435,444.74 66,749,520.74

Less : Transferred to short term portion being amount due within next 12 months
Grameen Fund - 1st Phase (5,000,000.00) (5,000,000.00)
Grameen Fund - 1st Phase (5,000,000.00) (5,000,000.00)
MIDAS Financing Limited (7,151,699.00) (7,151,699.00)
Venture Investment Partners Bangladesh Limited (3,741,392.00) (3,741,392.00)
168,542,353.74 45,856,429.74

8. Investment Equilization Fund: Tk -

This is arrived at as follows :

2011 2010
Taka Taka

Opening Balance - 6,500,000.00

Add : Amount Received 16,450,000.00 31,225,000.00
16,450,000.00 37,725,000.00
Less : Amount adjusted during the year 16,450,000.00 37,725,000.00
- -

This represents the sales proceeds of 225,000 Ordinary shares of Confidence Salt Limited at Tk 29,000,000/= (out of which Tk 577,778/= has
been recognized as "Other Investment Income" in the year 2008). This amount will be adjusted upon completion of share transfer formalities.

9. Provision for "Un-Classified Loans and Investments" - Tk 1,738,774.27

2011 2010
Taka Taka

Opening Balance 667,495.21 575,000.00

Add : Provision made during the year 1,168,826.94 187,500.00
1,836,322.15 762,500.00
Less : Written back during the year 97,547.88 95,004.79
1,738,774.27 667,495.21
UBICO

1% general provision has been made for unclassified loans & investments in accordance with Bangladesh Banks' FID Circular No. 08 dated
August 03, 2002.

Page - 10

10. Lease Finance - Current Portion - Tk -

This is arrived at as follows :

2011 2010
Taka Taka

Opening Balance - -
Add : Transferred from long term being amount due within next twelve
months from the date of balance sheet - -
- -
Less : Amount realised during the year - -
- -

11. Lease Finance Receivable - Tk -

2011 2010
Taka Taka
This is arrived at as follows :
Opening Balance - -
Less : Amount realised during the year - -
- -

12. Term Loan - Current Portion - Tk 1,250,000.00

This is arrived at as follows :

2011 2010
Taka Taka

Opening Balance 20,893,091.00 9,876,866.26

Add : Transferred from long term being amount due within next twelve
months from the date of balance sheet - 20,893,091.00
20,893,091.00 30,769,957.26
Less : Amount realised during the year 19,643,091.00 9,876,866.26
1,250,000.00 20,893,091.00

13. Advance, Deposits & Prepayments- Tk 465,362.00

2011 2010
Taka Taka

Advance rent 61,540.00 27,150.00

Other Assets - I/Tax ded. on our Dividend/Interest Income 176,250.00 176,250.00
Clean Loan to staff 64,572.00 26,034.00
Other Assets - Other Receivable & Advance 90,000.00 -
Other Assets - Advance against salary - 10,000.00
Security deposits:
ISD telephone (3 Nos.) 42,000.00 42,000.00
Fax machine 10,000.00 10,000.00
Mobile for officers - 2 Nos. 10,000.00 10,000.00
Securex (PVT) Limited - -
Gulshan Service Station 10,000.00 10,000.00
Mobile - Grameen Phone 1,000.00 1,000.00
465,362.00 312,434.00

14. Income Receivables - Tk 3,011,041.04

2011 2010
Taka Taka
Interest receivable on FDR 182,648.78 1,353,399.53
Interest receivable on Converted FDR 606,517.26 781,239.16
Interest receivable on Term Loan 2,221,875.00 2,512,500.00
Interest receivable on Lease finance - -
Dividend Receivable - -
Interest receivable on term deposit (USD Account) - -
Income receivable on Inv. In Cap. Market - 3,400,000.00
3,011,041.04 8,047,138.69
UBICO

Page - 11

15. Cash and Bank Balances - Tk 454,155,644.27

2011 2010
Taka Taka
A. Cash at banks:

I. Local Currency:
a. On fixed deposits with:
Dhaka Bank Limited 5,000,000.00 1,022,500.01
Premier Bank Limited 4,724,810.31 38,318,850.96
Bank Asia Limited 7,197,518.68 45,603,257.23
Bank Al Falah Limited - 11,163,067.50
Southeast Bank Limited 18,418,066.39 22,254,208.93
AB Bank Limited 19,063,688.37 -
NCC Bank Limited 70,326,419.52 -
Prime Bank Limited 35,868,495.17 8,369,436.11
160,598,998.44 126,731,320.74

b. On Converted fixed deposits with:

Dhaka Bank Limited 64,926,755.13 -
Premier Bank Limited - 59,215,738.98
Bank Al Falah Limited 36,683,352.94 88,143,473.19
Prime Bank Limited 40,264,038.42 -
Southeast Bank Limited 51,226,383.42 46,715,164.44
Bank Asia Limited 39,251,453.06 81,493,189.04
Eastern Bank Limited - -
AB Bank Limited 54,891,168.79 50,000,000.00
287,243,151.76 325,567,565.65

c. On demand deposits with:

Savings bank account (with Sonali Bank Ltd) - 884.49
Savings bank account (with AB Bank Ltd) - 7,363.52
Savings bank account (with Bank Asia Ltd) 2,865,492.88 2,697,324.10
STD Account (with Bank Asia) 375,702.45 426,870.67
STD Account (with AB Bank) - 4.68
STD Account (with EBL) 67,095.28 67,095.28

Current account (with Dhaka Bank Ltd) - 104,865.98

Current account (with Bangladesh Bank) 16,000.00 6,400.00

3,324,290.61 3,310,808.72
TOTAL - I (a+b+c) 451,166,440.81 455,609,695.11

II. Foreign Currency (US$ A/C):

a. On term deposits with:

Eastern Bank Limited, Dhaka (EBL) 2,736,563.02 2,736,563.02

b. FCY - USD Account with EBL 192,211.37 192,211.37

TOTAL - I (a+b) 2,928,774.39 2,928,774.39

TOTAL Cash at Banks (I+II) 454,095,215.20 458,538,469.50

B. Cash in hand 60,429.07 22,404.07

454,155,644.27 458,560,873.57

i. The USD fund was placed with Bangladesh Bank clearing account through Eastern Bank Limited (EBL) on monthly roll over basis. Rate of
interest increased from 5.07% (in January 2008) to 1.68% (in December 2008). The closing balance of US$ fund as on 31-12-08 was US$
2,429,605.73 (As on 31-12-07, it was US$ 5,268,847.22).

ii. US Dollar amount has been translated into taka currency at the rate Tk --------- per US$ (2008 : Tk 68.9200) ruling at the balance sheet
date.

iii. Maturity wise details of FDR:

Period Number of FDRs Taka Taka

12 months 0 ### - -

6 months 0 ### - 6,538,403.64

3 months 0 ### - 407,332,282.35

1 months 0 ### - -
UBICO

Total 0 ### - 413,870,685.99

447,842,150.20 38,428,200.40

Page - 12

16. Liabilities for Expenses - Tk 10,858.00

2011 2010
Taka Taka

Telephone bill 10,858.00 13,874.00

Audit Fees - 69,000.00
Salary & Allowances - -
Rent-Office - -
Security Deposit - -
Salary & Allowances - -
Electricity/Water/Gas - -
Festival Bonus - -
Motor Vehicle-POL - -
Repairments, Improvement & Maint - -
Legal Fees - -
Others - -
10,858.00 82,874.00

17. Privileged Creditors - Tk 180,408.00

2011 2010
Taka Taka

Income Tax deducted from Emp.'s Salary - -

Income Tax deducted from Office Rent - -
Income Tax deducted from other professional fees 133,202.00 -
VAT deducted at source 47,206.00 -
180,408.00 -

The company has duly deducted Income Tax at source of concerned expenditures/payments and deposited the same in favor of Large Tax Unit,
NBR accordingly.

18. Leased Deposit - Tk -

2011 2010
Taka Taka

Leased Deposit on Lease Finance - -

- -

This represents 3% deposit received against Lease Finance which will be adjustable at the end of the leased period.

19. Dividend Payable - Tk -

2011 2010
Taka Taka

Balance as on 1 January - -
Add: Transferred from Proposed Dividend - 1,755,566.00
- 1,755,566.00
Less : Payment of Dividend - 1,755,566.00
Balance as on 31 December - -

The dividend for the year 2008 has been remitted and paid in 2009 and obtain required approval from Bangladesh Bank.

20. Employees' Provident Fund - Tk -

2011 2010
Taka Taka

Balance as on 1 January - -
Add: Transferred to the Fund 946,002.00 878,560.00
946,002.00 878,560.00
Less : Transferred from the Fund 946,002.00 878,560.00
Balance as on 31 December - -
UBICO

The Company deduct monthly contribution to provident fund @ 10% of basic salary from employees monthly salary & allowances and contribute
the same amount to Employees Provident Fund. The entire amount has been transferred to Employees Provident Fund Account.

Page - 13
22. Special Reserve - Tk 31,562,000.00
2011 2010
Taka Taka

Balance as on 1 January 31,562,000.00 31,562,000.00

Add: Amount transferred from Profit & Loss (P/L) Account - -
Less: Amount transferred to Share Capital - -
Balance as on 31 December 31,562,000.00 31,562,000.00

The above fund represents 20% of the paid up capital of the company which was created of post tax profit as a requirement of clause 71
of the Articles of Association of the Company.

23. Statutory Reserve - Tk 92,699,251.05

2011 2010
Taka Taka

Balance as on 1 January 154,107,724.32 148,021,230.32

Add: Amount transferred from Profit & Loss (P/L) Account 6,086,494.00
Less: Amount transferred to Retained Earnings (61,408,473.27) -
Less: Amount transferred to Share Capital - -
Balance as on 31 December 92,699,251.05 154,107,724.32

24. Retained Earnings - Tk #REF!

2011 2010
Taka Taka

Balance as on 1 January 229,663,020.44 218,250,843.33

Add: Unappropriated profit for the year transferred from P/L Account #REF! 30,432,471.11
Add: Amount transferred from Statutory Reserve 61,408,473.27 -
Less: Amount transferred to Statutory Reserve - (6,086,494.00)
Less: Amount transferred to Tax Exemption Reserve - (12,933,800.00)
Less: Amount transferred to Share Capital - -
Balance as on 31 December #REF! 229,663,020.44

25. Foreign Exchange Fluctuation Fund Tk 1,752,527.70

2011 2010
Taka Taka

Balance as on 1 January 1,752,527.70 1,690,668.39

Add: Foreign Exchange Fluctuation Gain/(Loss) during this year - 61,859.31
Less: Amount Transferred to Statutory Reserve - -
Less: Amount Transferred to Retained Earnings - -
1,752,527.70 1,752,527.70

The above fund represents the unrealized foreign exchange gain/(Loss) of the company since 1987.

26. Tax Exemption Reserve - Tk 28,274,900.00

2011 2010
Taka Taka

Balance as on 1 January 28,274,900.00 15,341,100.00

Add: Unappropriated profit for the year transferred from P/L Account - 12,933,800.00
28,274,900.00 28,274,900.00
Less : Adjustment during this year - -
Balance as on 31 December 28,274,900.00 28,274,900.00

27. Proposed Dividend - Tk -

2011 2010
Taka Taka

Balance as on 1 January - 1,755,566.00

Add: Unappropriated profit for the year transferred from P/L Account - -
- 1,755,566.00
Less : Transfer to Dividend Payable - 1,755,566.00
Balance as on 31 December - -

28. Gratuity Fund - Tk 5,709,760.00

2011 2010
Taka Taka
UBICO

Balance as on 1 January 5,709,760.00 4,684,322.00

Add: Transferred from retained earnings - -
Add: Addition during the year - 1,025,438.00
5,709,760.00 5,709,760.00
Less : Payment/adjustment during the year - -
Balance as on 31 December 5,709,760.00 5,709,760.00

Page - 15

28. Interest Earned on Fixed Deposits Tk #REF!

2011 2010
Taka Taka

Dhaka Bank Limited #REF! 401,550.40

Premier Bank Limited #REF! 1,550,039.45
Bank Asia Limited #REF! 3,505,773.14
Prime Bank Ltd. #REF! 69,745.30
Bank Al Falah Ltd. #REF! 1,111,056.26
Southeast Bank Limited #REF! 681,692.78
AB Bank Limited #REF! -
NCC Bank Limited #REF!
#REF! 7,319,857.33

29. Interest Earned on Con. Fixed Deposit Tk #REF!

2011 2010
Taka Taka

Eastern Bank Ltd. #REF! -

Dhaka Bank Limited #REF! 9,240,929.57
Bank Al Falah Ltd. #REF! 7,732,596.14
Premier Bank Limited #REF! 217,142.71
Prime Bank Limited #REF! 3,378,143.87
Southeast Bank Limited #REF! 3,830,515.93
Bank Asia Limited #REF! 4,220,604.00
AB Bank Limited #REF! 190,972.22
#REF! 28,810,904.44

30. Interest Earned on US$ Deposits Tk #REF!

2011 2010
Taka Taka

US Dollar Account with Eastern Bank Limited #REF! (82,619.00)

[2007 : US$ 284,748.81 , 2006 : US$ 262,063.67]
#REF! (82,619.00)

31. Salaries and Allowances - Tk #REF!

2011 2010
Taka Taka
Basic salary #REF! 4,688,633.00
House rent allowance #REF! 2,300,670.00
Conveyance allowance #REF! 42,412.00
Utilities allowance #REF! 170,475.00
Medical allowance #REF! 138,288.00
Entertainment allowance #REF! 109,440.00
Personal Staff Subsidy #REF! 189,120.00
Company's contribution to Employees' PF #REF! 439,280.00
Taxes on employees' remuneration #REF! 1,114,385.00
Festival bonus #REF! 781,956.00
Gratuity #REF! 1,025,438.00
Honorarium #REF! 76,000.00
Insurance-Employees #REF! 156,511.00

#REF! 11,232,608.00

32. Other Administrative Expenses - Tk #REF!

2011 2010
Taka Taka

Wages to casual worker #REF! 14,400.00

Directors' fee #REF! 45,000.00
Entertainment #REF! 114,076.00
Travelling & conveyance #REF! 1,012,340.00
Hotel Expenses #REF! 203,656.70
Business Development Expenses #REF! 419,111.00
Utilities #REF! 118,057.00
Telephone #REF! 123,374.00
Motor Vehicles Expenses :
Petroleum oil #REF! 685,793.00
Taxes and Insurance #REF! 62,014.00
Other Expenses #REF! 26,870.00
Stamp, License & Membership Fee #REF! 89,828.00
Rent #REF! 640,740.00
Office supplies #REF! 12,625.00
Stationery #REF! 114,722.00
Advertisement #REF! 27,250.00
Postage and cables #REF! 63,444.69
UBICO

Nnewspaper and periodicals #REF! 37,175.00

Books #REF! 1,800.00
Repairs, Improvements and Maintenance #REF! 1,075,915.00
Insurance #REF! 22,676.00
Training - Officer & Staff #REF! 25,150.00
Uniform #REF! 15,220.00
VAT & Duty #REF! 178,168.54
#REF! 5,129,405.93

Page - 16

33. Provision for Taxation

No provision for taxation has been made in the financial statements as the Company has been granted tax exemption as per gazette
notification no. 2(1)kar-1/89 dated 25 January 1990 and appeal decision notification no. 153(3)-2/Ayeen/99/2000/332(3) dated 6
September 1999 of the Appellate Commissioner of Taxes, Taxes Zone-3. We have also applied to National Board of Revenue of Bangladesh
to extend tax exemption period for further 10 years period upto 2017 as per our agreement.

34. Number of Employees

The number of permanent employees engaged for the whole year who received a total annual remuneration of Tk 36,000 and above was
9.

35. Contingent Liabilities

There has been no reportable material contracts, capital commitments, subsequent events or contingent liabilities.

36. Receivable from or Payable to the Directors :

No amount was receivable from or Payable to the Directors of the Company as on 30-11-2009.

37. Foreign Currency Earning

US$ ----------- was earned in foreign currency as interest on term deposit during the year ended December 31, 2009.

38. Payment in foreign currency

No payment have been made in foreign currency on account of royalty, technical experts, professional advisor fees and interest etc.

39. Basic Earning Per Share (EPS) - Disclosure under IAS 33 "Earning Per Share"

Basic Earning atributable to ordinary shareholders #REF! #REF!

EPS Weighted average number of shares outstanding during the year 5,000.00 5,000.00

#REF! #REF!

40. Comparative Figures

Previous year's figures have been rearranged and regrouped, wherever considered necessary, to conform to the current year's presentation.

41. Approval of Financial Statements

These financial statements were authorised for issue in accordance with a resolution of the company board of the directors on
-----------------------------------.

S. M. Akbar Saeed Al Dhaheri

Managing Director Deputy Chairman Chairman
UBICO

Page - 17
 Annexure- E

The UAE- Bangladesh Investment Company Limited

Minimum Capital Requirement and Risk-Weighted Assets
As defined by Basel Accord for Financial Institution (BAFI)
For the quarter ended 31 December 2011

31.12.2011 31.12.2010
Taka Taka
I. Minimum Capital Requirement (MCR)
A. Eligible Capital :
1 Core Capital (Tier-I)
a Paid up Capital 157,810,000.00
b Special reserve #REF!
c Statutory reserve #REF!
d Retained earnings #REF!
e Proposed dividend #REF! #REF!

2 Tier-2 (Supplementary Capital)

a General Provision (1% on unclassified loans & investments) -
b Foreign Currency Fluctuation Fund #REF! #REF!

3 Tier-3 (eligible for market risk only)

a Short-term subordinated debt - -

4 Total Eligible Capital (1+2+3) : #REF!

B. Total Risk Weighted Assets (RWA) #REF!

C. Capital Adequacy Ratio (CAR) (A4 / B)*100 #REF!

D. Core Capital to RWA (A1 / B)*100 #REF!
E. Supplementary Capital to RWA (A2 / B)*100 #REF!
F. Minimum Capital Requirement (MCR)
10% of RWA = B x 10% #REF!
G. Capital Surplus (A-F) #REF!
H. Minimum Capital for NBFI 500,000,000.00
I. Excess of total eligible capital over minimum capital (A-H) #REF!

II Risk Weighted Assets for Credit Risk (RWA)

Balance Sheet Exposure
Figure in Taka
Sl. Exposure Type Risk Exposure Risk
No. Weight Weighted
Assets
30-06-2011

a Cash & Cash Equivalents 0 #REF! #REF!

b Short Term Deposit 0 #REF! #REF!
c Term Loan Investment 1 #REF! #REF!
d Other Investments 1 1,936,666.82 1,936,666.82
e Investment in Fixed assets 1 644,349.22 644,349.22
f All other Assets 1 #REF! #REF!

#REF! #REF!

Note : i) We have applied to Bangladesh Bank to entend us a time limit for raising paid-up capital upto Tk 500,000,000/=
ii) The Core capital excludes the "Tax Exemption Reserves" and "Gratuity Fund", as both the reserves/funds are
maintained for payment of future liability to the third party.
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
FUND POSITION AS ON NOVEMBER 30, 2011

Sl. Particulars 30-11-2011 30-11-2011 30-11-2011

No. Taka Total Taka Equivalent US$

A. Local Currency :

I On fixed deposits with :

Premier Bank Limited 4,724,810.31
Dhaka Bank Limited 5,000,000.00
Bank Asia Limited 7,197,518.68
Southeast Bank Limited 18,418,066.39
NCC Bank Limited 70,326,419.52
AB Bank Limited 19,063,688.37
Prime Bank Limited 35,868,495.17 160,598,998.44 2,199,986

II On converted fixed deposits with :

Dhaka Bank Limited 64,926,755.13

Bank Al Falah Limited 36,683,352.94
Southeast Bank Limited 51,226,383.42
Prime Bank Limited 40,264,038.42
Bank Asia Limited 39,251,453.06
AB Bank Limited 54,891,168.79 287,243,151.76 3,934,838

III Other local currency accounts :

Savings bank account (with Sonali Bank Ltd) -
Savings bank account (with Bank Asia Ltd) 2,865,492.88
STD account (with Bank Asia Ltd) 375,702.45
STD account (with Eastern Bank Ltd) 67,095.28
Current account (with Bangladesh Bank - Non operative) 16,000.00
3,324,290.61 45,538
451,166,440.81 6,180,362
IV Cash in hand
Total local currency 60,429.07 828
451,226,869.88 6,181,190
B. Foreign Currency :

Eastern Bank Limited, Dhaka (USD A/C) 2,736,563.02 -

Eastern Bank Limited, Dhaka (FC A/C) 192,211.37 2,928,774.39 40,120

Total Fund (A+B) 454,155,644.27 6,221,310

Note : 1 US$ = Taka 75/=

- 6,221,310
 UBICO
Realised Expenditure Budget for the Year 2011
Report for the month of December, 2011
Figure in Taka
Current Month : December, 2011 Cumulative Expenditures : Upto December, 2011
Actual for R. Budget Actual for Variance Account Description Upto Budget for Actual upto Variance upto
Dec-10 Dec-11 Dec-11 Dec-11 Dec-10 Dec-11 Dec-11 Dec-11
1 2 3 2-3=4 1 2 3 2-3=4
Payroll and related
722,211 817,957 #REF! #REF! Salary and allowances 7,555,179 9,291,212 #REF! #REF!
80,000 110,808 #REF! #REF! Taxes on employees salaries 1,114,385 1,480,000 #REF! #REF!
393,978 18,308 #REF! #REF! Bonus 781,956 1,329,954 #REF! #REF!
1,200 2,400 #REF! #REF! Wages to casual workers 13,200 18,000 #REF! #REF!
- 28,250 #REF! #REF! Director's fees 45,000 80,000 #REF! #REF!
- 1,137,300 #REF! #REF! Gratuity - 1,137,300 #REF! #REF!
1,197,389 2,115,023 #REF! #REF! Total 9,509,720 13,336,466 #REF! #REF!
Travel and entertainment
- 3,850 #REF! #REF! Entertainment - Office 49,954 60,000 #REF! #REF!
12,981 7,300 #REF! #REF! Entertainment - Business 53,308 100,000 #REF! #REF!
1,500 181,300 #REF! #REF! Business Development Expenditure 185,664 600,000 #REF! #REF!
- 54,400 #REF! #REF! Traveling - Inland 11,937 90,000 #REF! #REF!
580,247 22,500 #REF! #REF! Traveling - Foreign 966,343 1,400,000 #REF! #REF!
- 66,000 #REF! #REF! Hotel/Meeting expenses 203,657 200,000 #REF! #REF!
(24,957) 14,250 #REF! #REF! Local conveyance 26,870 80,000 #REF! #REF!
569,771 349,600 #REF! #REF! Total 1,497,733 2,530,000 #REF! #REF!
Telephone, water and electricity
9,845 31,500 #REF! #REF! Electricity/Water 110,526 150,000 #REF! #REF!
6,956 39,200 #REF! #REF! Telephone - Office 107,968 150,000 #REF! #REF!
- - #REF! #REF! Telephone - Residence - - #REF! #REF!
16,801 70,700 #REF! #REF! Total 218,494 300,000 #REF! #REF!
Motor vehicle
95,066 107,200 #REF! #REF! Motor Vehicle - POL 679,513 900,000 #REF! #REF!
- 37,900 #REF! #REF! Motor Vehicle - Taxes and other Ins. 62,014 100,000 #REF! #REF!
2,000 6,750 #REF! #REF! Motor Vehicle - Other expenses 25,670 50,000 #REF! #REF!
97,066 151,850 #REF! #REF! Total 767,197 1,050,000 #REF! #REF!
Fees and others
- 69,000 #REF! #REF! Audit fees - 69,000 #REF! #REF!
619,151 208,800 #REF! #REF! Legal fees/charges 2,508,339 3,000,000 #REF! #REF!
- 100,000 #REF! #REF! Other Professional Fees 472,863 100,000 #REF! #REF!
6,636 33,040 #REF! #REF! Stamps, License & membership fees 89,828 100,000 #REF! #REF!
625,787 410,840 #REF! #REF! Total 3,071,030 3,269,000 #REF! #REF!
Rent
54,300 199,100 #REF! #REF! Rent - Office 586,440 868,800 #REF! #REF!
- - #REF! #REF! Rent - Residence - - #REF! #REF!
54,300 199,100 #REF! #REF! Total 586,440 868,800 #REF! #REF!
Office supplies and others
1,012 15,675 #REF! #REF! Office supplies 11,457 30,000 #REF! #REF!
6,148 48,555 #VALUE! #VALUE! Printed and other stationary 106,025 200,000 #VALUE! #VALUE!
- 85,000 #REF! #REF! Advertisement 10,000 100,000 #REF! #REF!
3,405 9,050 #REF! #REF! Postage and cables 59,059 100,000 #REF! #REF!
2,950 11,250 #VALUE! #VALUE! Newspaper and periodicals 35,860 50,000 #VALUE! #VALUE!
32,000 33,000 #REF! #REF! Honorarium 68,000 100,000 #REF! #REF!
45,515 202,530 #REF! #REF! Total 290,401 580,000 #REF! #REF!
Maintenance and Insurance
60,696 166,800 #REF! #REF! Repairs, improvements, and maintenance 820,395 1,400,000 #REF! #REF!
- 7,324 #REF! #REF! Insurance - furniture and equipment 22,676 30,000 #REF! #REF!
60,696 174,124 #REF! #REF! Total 843,071 1,430,000 #REF! #REF!
Training
- 72,500 #REF! #REF! Training - officers and staff 25,150 100,000 #REF! #REF!
Others
4,874 13,700 #REF! #REF! Miscellaneous 31,615 65,000 #REF! #REF!
- 28,999 #REF! #REF! Bank charges, Excise Duty & VAT 4,756 35,000 #REF! #REF!
- 25,000 #REF! #REF! Uniform/liveries 12,720 25,000 #REF! #REF!
720 52,600 #REF! #REF! Excise Duty & VAT 136,629 200,000 #REF! #REF!
- 50,000 #REF! #REF! Donations 10,000 50,000 #REF! #REF!
5,594 170,299 #REF! #REF! Total 195,720 375,000 #REF! #REF!
2,672,919 3,916,567 #REF! #REF! Total Cash Expenses 17,004,955 23,839,266 #REF! #REF!

Non-cash expenses
- 75,895 #REF! #REF! Depriciation 79,326 153,239 #REF! #REF!
- - #REF! #REF! Write off - fixed assets - 1 #REF! #REF!
- - - - Written off - Security Deposits - - - -
- 128,721 #REF! #REF! Provision on Investments 130,431 1,200,000 #REF! #REF!
- - #REF! #REF! Previous Years Adjustments - - #REF! #REF!
### - 204,616 #REF! #REF! Total 209,757 1,353,240 #REF! #REF!
2,672,919 4,121,183 #REF! #REF! Total Cash & Non-Cash Expenses 17,214,712 25,192,506 #REF! #REF!

- - #REF! - - #REF! -
Note : i) 1 US$ = Taka 80/=
UBICO Internal Purpose
Expenditure Budget for the Year 2011
Report for the month of December 2011
Figure in BDT
Monthly Analysis Yearly Analysis
Nov-11 Actual Actual R. Budget Budget % of Balance
Actual for Actual for Budget for Variance Heads of Accounts upto upto for balance as on of Budget
Dec-10 Dec-11 Dec-11 Dec-11 Dec-10 Dec-11 2011 31-12-11 for 2011
1 2 3 4 1 2 3 4 5
Payroll and related
722,211 #REF! 817,957 #REF! Salary and allowances 7,555,179 #REF! 9,291,212.20 #REF! #REF!
80,000 #REF! 110,808 #REF! Taxes on employees salaries 1,114,385 #REF! 1,480,000.00 #REF! #REF!
393,978 #REF! 18,308 #REF! Festival bonus 781,956 #REF! 1,329,954.00 #REF! #REF!
1,200 #REF! 2,400 #REF! Wages to casual workers 13,200 #REF! 18,000.00 #REF! #REF!
- #REF! 28,250 #REF! Director's fees 45,000 #REF! 80,000.00 #REF! #REF!
- #REF! 1,137,300 #REF! Gratuity - #REF! 1,137,300.00 #REF! #REF!
1,197,389 #REF! 2,115,023 #REF! Total 9,509,720 #REF! 13,336,466.20 #REF! #REF!
Travel and entertainment
- #REF! 3,850 #REF! Entertainment - Office 49,954 #REF! 60,000.00 #REF! #REF!
12,981 #REF! 7,300 #REF! Entertainment - Business 53,308 #REF! 100,000.00 #REF! #REF!
1,500 #REF! 181,300 #REF! Business Development Expenditure 185,664 #REF! 600,000.00 #REF! #REF!
- #REF! 54,400 #REF! Traveling - Inland 11,937 #REF! 90,000.00 #REF! #REF!
580,247 #REF! 22,500 #REF! Traveling - Foreign 966,343 #REF! 1,400,000.00 #REF! #REF!
- #REF! 66,000 #REF! Hotel /Meeting expenses 203,657 #REF! 200,000.00 #REF! #REF!
(24,957) #REF! 14,250 #REF! Local conveyance 26,870 #REF! 80,000.00 #REF! #REF!
569,771 #REF! 349,600 #REF! Total 1,497,733 #REF! 2,530,000.00 #REF! #REF!
Telephone, water and electricity
9,845 #REF! 31,500 #REF! Electricity/Water 110,526 #REF! 150,000.00 #REF! #REF!
6,956 #REF! 39,200 #REF! Telephone - Office 107,968 #REF! 150,000.00 #REF! #REF!
- #REF! - #REF! Telephone - Residence - #REF! - - -
16,801 #REF! 70,700 #REF! Total 218,494 #REF! 300,000.00 #REF! #REF!
Motor vehicle
95,066 #REF! 107,200 #REF! Motor Vehicle - POL 679,513 #REF! 900,000.00 #REF! #REF!
- #REF! 37,900 #REF! Motor Vehicle - Taxes and other Ins. 62,014 #REF! 100,000.00 #REF! #REF!
2,000 #REF! 6,750 #REF! Motor Vehicle - Other expenses 25,670 #REF! 50,000.00 #REF! #REF!
97,066 #REF! 151,850 #REF! Total 767,197 #REF! 1,050,000.00 #REF! #REF!
Fees and others
- #REF! 69,000 #REF! Audit fees - #REF! 69,000.00 #REF! #REF!
619,151 #REF! 208,800 #REF! Legal fees & charges 2,508,339 #REF! 3,000,000.00 #REF! #REF!
- #REF! 100,000 #REF! Other Professional Fees 472,863 #REF! 100,000.00 #REF! #REF!
6,636 #REF! 33,040 #REF! Stamps, License & membership fees 89,828 #REF! 100,000.00 #REF! #REF!
625,787 #REF! 410,840 #REF! Total 3,071,030 #REF! 3,269,000.00 #REF! #REF!
Rent
54,300 #REF! 199,100 #REF! Rent - Office 586,440 #REF! 868,800.00 #REF! #REF!
- #REF! - #REF! Rent - Residence - #REF! - #REF! 0.00%
54,300 #REF! 199,100 #REF! Total 586,440 #REF! 868,800.00 #REF! #REF!
Office supplies and others
1,012 #REF! 15,675 #REF! Office supplies 11,457 #REF! 30,000.00 #REF! #REF!
6,148 #VALUE! 48,555 #VALUE! Printed and other stationary 106,025 #VALUE! 200,000.00 #VALUE! #VALUE!
- #REF! 85,000 #REF! Advertisement 10,000 #REF! 100,000.00 #REF! #REF!
3,405 #REF! 9,050 #REF! Postage and cables 59,059 #REF! 100,000.00 #REF! #REF!
2,950 #VALUE! 11,250 #VALUE! Newspaper and periodicals 35,860 #VALUE! 50,000.00 #VALUE! #VALUE!
32,000 #REF! 33,000 #REF! Honorarium 68,000 #REF! 100,000.00 #REF! #REF!
45,515 #REF! 202,530 #REF! Total 290,401 #REF! 580,000.00 #REF! #REF!
Maintenance and Insurance
60,696 #REF! 166,800 #REF! Repairs, improvements, and maintenance 820,395 #REF! 1,400,000.00 #REF! #REF!
- #REF! 7,324 #REF! Insurance - furniture and equipment 22,676 #REF! 30,000.00 #REF! #REF!
60,696 #REF! 174,124 #REF! Total 843,071 #REF! 1,430,000.00 #REF! #REF!
Training
- #REF! 72,500 #REF! Training - officers and staff 25,150 #REF! 100,000.00 #REF! #REF!
Others
4,874 #REF! 13,700 #REF! Miscellaneous 31,615 #REF! 65,000.00 #REF! #REF!
- #REF! 28,999 #REF! Bank charges 4,756 #REF! 35,000.00 #REF! #REF!
- #REF! 25,000 #REF! Uniform/liveries 12,720 #REF! 25,000.00 #REF! #REF!
720 #REF! 52,600 #REF! Excise Duty & VAT 136,629 #REF! 200,000.00 #REF! #REF!
- #REF! 50,000 #REF! Donations 10,000 #REF! 50,000.00 #REF! #REF!
5,594 #REF! 170,299 #REF! Total 195,720 #REF! 375,000.00 #REF! #REF!
2,672,919 #REF! 3,916,567 #REF! Total Cash Expenses 17,004,955 #REF! 23,839,266.20 #REF! #REF!

Non-cash expenses
- #REF! 75,895 #REF! Depreciation 79,326 #REF! 153,238.80 #REF! #REF!
- #REF! - #REF! Written off - fixed assets - #REF! 1.00 #REF! 0.00%
- - - - Written off - Security Deposits - - - - 0.00%
- #REF! 128,721 #REF! Provision on Investments 130,431 #REF! 1,200,000.00 #REF! 0.00%
- #REF! - #REF! Previous Years Adjustments - #REF! - #REF! 0.00%
- #REF! 204,616 #REF! Total 209,757 #REF! 1,353,239.80 #REF! #REF!
2,672,919 #REF! 4,121,183 #REF! Total Cash & Non-Cash Expenses 17,214,712 #REF! 25,192,506.00 #REF! #REF!

- #REF! - #REF! - 25,192,506

-
Actual Actual Actual Diff.
upto for upto
Nov-11 Dec-11 Dec-11
7 8 9 10

8,473,255.00 #REF! #REF! #REF!

1,369,192.00 #REF! #REF! #REF!
1,311,646.00 #REF! #REF! #REF!
15,600.00 #REF! #REF! #REF!
51,750.00 #REF! #REF! #REF!
- #REF! #REF! #REF!
11,221,443.00 #REF! #REF! #REF!
-
55,608.00 #REF! #REF! #REF!
92,095.00 #REF! #REF! #REF!
418,375.00 #REF! #REF! #REF!
35,551.00 #REF! #REF! #REF!
1,376,900.00 #REF! #REF! #REF!
133,814.16 #REF! #REF! #REF!
64,930.00 #REF! #REF! #REF!
2,177,273.16 #REF! #REF! #REF!
-
117,604.48 #REF! #REF! #REF!
109,159.00 #REF! #REF! #REF!
- #REF! #REF! #REF!
226,763.48 #REF! #REF! #REF!
-
790,554.00 #REF! #REF! #REF!
62,014.00 #REF! #REF! #REF!
43,215.00 #REF! #REF! #REF!
895,783.00 #REF! #REF! #REF!
-
- #REF! #REF! #REF!
2,790,634.00 #REF! #REF! #REF!
- #REF! #REF! #REF!
66,395.00 #REF! #REF! #REF!
2,857,029.00 #REF! #REF! #REF!
-
669,700.00 #REF! #REF! #REF!
- #REF! #REF! #REF!
669,700.00 #REF! #REF! #REF!
-
14,045.00 #REF! #REF! #REF!
151,048.00 #VALUE! #VALUE! #VALUE!
15,000.00 #REF! #REF! #REF!
90,166.58 #REF! #REF! #REF!
38,190.00 #VALUE! #VALUE! #VALUE!
67,000.00 #REF! #REF! #REF!
375,449.58 #REF! #REF! #REF!
-
1,231,415.00 #REF! #REF! #REF!
22,676.00 #REF! #REF! #REF!
1,254,091.00 #REF! #REF! #REF!
-
27,500.00 #REF! #REF! #REF!
-
50,845.00 #REF! #REF! #REF!
5,755.57 #REF! #REF! #REF!
- #REF! #REF! #REF!
147,099.77 #REF! #REF! #REF!
- #REF! #REF! #REF!
203,700.34 #REF! #REF! #REF!
19,908,732.56 #REF! #REF! #REF!
-
-
77,343.29 #REF! #REF! #REF!
1.00 #REF! #REF! #REF!
- - - -
1,071,279.06 #REF! #REF! #REF!
- #REF! #REF! #REF!
1,148,623.35 #REF! #REF! #REF!
21,057,355.91 #REF! #REF! #REF!

- #REF! #REF!
Name of Financial Institutions (FI): The UAE-Bangladesh Investment Company Limited

Statement of Structural Liquidity as on: November 30, 2011

(Amount in crore)
Actual
1 to over
Over 2 Over 3 Over 6 Over Figure
30/31 one Over 3 Over
months months months one During
Particulars day month years to 5 Total
to 3 to 6 to one year to last one
(one to 2 5 years year
months months year 3 years month (1-
month) months
30days)
A. OUTFLOWS:
1. Capital - - - - - - - 15.78 15.78 -
a. Equity and perpetual preference shares - - - - - - - 15.78 15.78 -
b. Non-perpetual preference shares - - - - - - - - - -
2. Reserves and Surplus - - - - - - - #REF! #REF! -
3. Notes, bonds & debentures - - - - - - - - - -
(a) Plain vanilla bonds/debentures - - - - - - - - - -
(b) Bonds/debentures with embedded options - - - - - - - - - -
4. Deposits - - - - - - - - - -
(a) Term deposits from public - - - - - - - - - -
(b) Term deposits from Banks/FIs - - - - - - - - - -
5. Bank Borrowings - - - - - - - - - -
(a) SOD - - - - - - - - - -
(b) Long term loans - - - - - - - - - -
6. Current liabilities and provisions #REF! - - - - - - - #REF! 0.01
(a) Short term loans - - - - - - - - - -
(b) Accounts payable #REF! - - - - - - - #REF! 0.01
(c) Advance income received - - - - - - - - - -
(d) Interest payable on bonds/deposits - - - - - - - - - -
(e) Provisions - - - - - - - - - -
7. Contingent Liabilities - - - - - - - - - -
(a) Letters of credit/guarantees - - - - - - - - - -
(b) Loan commitments, pending disbursal - - - - - - - - - -
(c) Lines of credit committed to other institutions - - - - - - - - - -
8. Others - - - - - - - #REF! #REF! -
A. TOTAL OUTFLOWS (A) #REF! - - - - - - #REF! #REF! 0.01
B. INFLOWS: -
1. Cash 0.01 - - - - - - - 0.01 0.01
2. Remittance in transit - - - - - - - - - -
3. Balances with banks 0.63 - - 44.78 - - - - 45.41 31.26
(a) Current account 0.63 - - - - - - - 0.63 31.26
(b) Deposit/short - term deposits - - - 44.78 - - - - 44.78 -
(c) Money at call & short notice - - - - - - - - - -
4. Investments (net of provisions) - - - - - - - 0.19 0.19 -
5. Lease Finance & Loans (performing) 0.59 - 0.42 1.23 2.71 11.78 1.97 - 18.70 -
(a) Lease Finance - - - - - - - - - -
(b) Home Loan - - - - - - - - - -
(c) Term Loan 0.59 - 0.42 1.23 2.71 11.78 1.97 - 18.70 -
(d) Corporate loans/short term loans - - - - - - - - - -
6. Non-performing loans - - - - - - - - - -
7. Fixed Assets (excluding assets on lease) - - - - - - - 0.06 0.06 -
8. Other assets - - #REF! - - - - #REF! #REF! -
(a) Intangible assets & other non-cash flow items - - - - - - - - - -
(b) Interest and other income receivable - - #REF! - - - - - #REF! -
(c) Others - - - - - - - #REF! #REF! -
9. Others - - - - - - - - - -
B. TOTAL INFLOWS (B) 1.22 - #REF! 46.02 2.71 11.78 1.97 #REF! #REF! 31.27
C. MISMATCH (B-A) #REF! - #REF! 46.02 2.71 11.78 1.97 #REF! #REF! 31.26
D. CUMULATIVE MISMATCH #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! #REF! 31.26
E. CAs PERCENTAGE OF of A #REF! #DIV/0! #REF! #REF! 381584%
The UAE- Bangladesh Investment Company Limited

Minimum Capital Requirement (MCR)

under Basel Accord for Financial Institutions (BAFI)
For the period ended September 30, 2011

(Amount in crore taka)

Sl. Particulars Amount
No.

A. Eligible Capital :

1 Tier-1 Capital #VALUE!

2 Tier-2 Capital -

3 Total Eligible Capital (1+2) #VALUE!

B. Total Risk Weighted Assets (RWA) 24.98

C. Capital Adequacy Ratio (CAR) (A3 / B) * 100 #VALUE!

D. Core Capital to RWA (A1 / B) * 100 #VALUE!

E. Supplementary Capital to RWA (A2 / B) * 100 0.00%

F. Minimum Capital Requirement (MCR) 2.50

The UAE- Bangladesh Investment Company Limited
Eligible Capital
under Basel Accord for Financial Institutions (BAFI)
For the period ended September 30, 2011

(Amount in crore taka)

Sl. Particulars Amount
No.
Tier-1 (Core Capital)

1.1 Fully Paid-up Capital/Capital lien with BB 15.78

1.2 Statutory Reserve #REF!

1.3 Non-repayable Share premium account -

1.4 General Reserve #VALUE!

1.5 Retained Earnings -

1.6 Minority interest in Subsidiaries -

1.7 Non-Cumulative irredeemable Preferences shares -

1.8 Dividend Equalization Account -

1.9 Other (if any item approved by Bangladesh Bank)

1.10 Sub-Total : (1.1 to 1.9) #VALUE!

Deductions from Tier-1 (Core Capital)

1.11 Book value of goodwill and value of any contingent assets which are
shown as assets -

1.12 Shortfall in provisions required against classified assets -

1.13 Shortfall in provisions required against investment in shares -

1.14 Remaining deficit on account of revaluation of investments in
securities after netting off from any other surplus on the securities. -

1.15 Any investment exceeding the approved limit -

1.16 Investments in subsidiaries which are not consolidated. -

1.17 Other (if any) -

1.18 Sub Total (1.11 to 1.18) -

1.19 Total Eligible Tier - 1 Capital (1.10 - 1.17) #VALUE!

2. Tier-2 (Supplementary Capital)

2.1 General Provision (Unclassified upto special limit + SMA + Off
Balance Sheet exposure) -

2.2 Assets Revaluation Reserves upto 50% -

2.3 Revaluation Reserve for securities upto 50% -

2.4 All other preference shares -

2.5 Other ( if any item approved by Bangladesh Bank) -

2.6 Sub-total (2.1 to 2.5) -

2.7 Deductions, if any -

2.8 Total Eligible Tier-2 Capital (2.6-2.7) -

The UAE- Bangladesh Investment Company Limited
Risk Weighted Assets
For the period ended September 30, 2011

(Amount in crore Taka)

Sl . Particulars Amount

A. Credit Risk:

On Balance Sheet (From WS-1) 24.30

Off Balance Sheet (From WS-2) -

B. Market Risk (From WS-3) 0.10

C. Operational Risk (From WS-4) 0.58

Total: RWA (A+B+C) 24.98

 The UAE- Bangladesh Investment Company Limited

Work Sheet 1
Risk Weighted Asset for Credit Risk Balance Sheet Exposures
For the period ended September 30, 2011

(Amount in crore Taka)

Sl. Exposure type Rating Risk Weight Exposure

a. Cash 0.00 45.41

b. Claims on Bangladesh Government & Bangladesh Bank 0.00 0.0016

c. Claims on other Soverigns & Central Banks 0.00 -

d. Claims on Bank for International settlements 0.00 -

International Monetary Fund and European
Central Bank

e. Claims on Multilateral Development Banks (MDBs)

i). IBRD, IFC, ADB, AfDB, EBRD, IADB, EIB 0.00 -
EIF,NIB, CDB, IDB, CEDB
ii). Other MDBs 1 0.20 -
2,3 0.50 -
4,5 1.00 -
6 1.50 -
Unrated 0.50 -
f. Claims on Public sector entities (Other than 1 0.20 -
Government) in Bangladesh. 2,3 0.50 -
4,5 1.00 -
6 1.50 -
Unrated 0.50 -
g. Claims on NBFIs and Banks
i). Original maturity over 3 months 1 0.20 -
2,3 0.50 -
4,5 1.00 -
6 1.50 -
Unrated 1.00 -
ii). Original maturity less than 3 months 0.20
h. Claims on coroporate 1 0.20 -
2 0.50 -
3,4 1.00 -
5,6 1.50 -
Unrated 1.25 -
i. Claims under Credit Risk Mitigation PSE N/A -
[From Work Sheet - 1 (a) ]: NBFIs & Banks N/A 7.82
Corporate N/A 9.56
Retail & Small N/A -
Consumer finance N/A -
Residential Property N/A -
Commercial Real Estate N/A -
j. Claims categorized as retail portfolio & Small 0.75 -
Enterprise (excluding consumer loan)
k. Consumer finance 1.00 -

l. Claims fully secured by residential property 0.50 -

m. Claim fully secured by commercial real estate 1.00 -

 The UAE- Bangladesh Investment Company Limited
Work Sheet 1
Risk Weighted Assets for Credit Risk Balance Sheet Exposures
For the period ended September 30, 2011
[Page 2]
(Amount in crore Taka)

Sl. Exposure type Rating Risk Weight Exposure

n. 1. Past Due Claims

(Risk weights are to be assigned net of specific provision):

i) Where specific provisions are less than 20% of the 1.50 -

outstanding amount of the past due claim.

ii) Where specific provisions are no less than 20% of the 1.00 -
outstanding amount of the past due claim.

iii) Where specific provisions are more than 50% of the 0.50 -
outstanding amount of the past due claim.

2. Claims fully secured against residential property that are 1.00 -

past due for more than 90 days and/or impaired specific
provision held there against is less than 20% of the
outstanding amount.

3. Loans and claims fully secured against residential property 0.75 -

that are past due for more than 90 days and/or impaired
and specific provision held there-against is more than 20%
of outstanding amount.

o. Investment in venture capital 1.50 -

p. Unlisted equity investments and regulatory capital instruments 1.25 2.70

issued by other Fis (other than those deducted from capital)
held in the banking book.

q. Investment in premises, plant and equipment and all other 1.00 0.06
fixed assets

r. Claims on all fixed assets under operating lease 1.00

s. All other assets 1.00 1.08
0.20
1.00
Total 66.65
(Amount in crore Taka)

RWA

-
-
-
-
-
-
-
-
-
-

-
-
-
-
-
-
-
-
-
-
-

7.82
11.95

-
(Amount in crore Taka)

RWA

3.38

0.06

-
1.08
-
-
24.30
 The UAE- Bangladesh Investment Company Limited
Work Sheet 1(a)
For the period ended September 30, 2011

(Amount in crore Taka)

Sl. Claims Exposure Collateral E*= RW RWA

on Net
Exposure Maturity Rating Haircut Exposure Nature Maturity Rating of Haircut of Haircut Collateral Exposure
Amount of of after of issuer/ Collateral on after =
(E) Counter Exposure haircut Collateral Issue (Hc) currency haircut EAH-CAH
party (He) EAH= (C) mismatch CAH=
E*(1+He) (Hfx) C*(1-Hc-
Hfx)

1 Corporate 9.56 Unrated - 9.5637222 Advance Cheque - - - 9.5637222 1.25 11.95

2 NBFI 7.82 Unrated 7.8240205 Advance Cheque - - - 7.8240205 1.00 7.82
3 0 0
4 0 0
5 0 0
6 0 0
7 0 0
8 0 0
9 0 0
10 0 0
11 0 0
12 0 0
13 0 0
14 0
 The UAE- Bangladesh Investment Company Limited
Work Sheet 2 (a) :
Credit Conversion Factors Off - Balance Sheet Exposures
For the period ended September 30, 2011

(Amount in crore Taka)

Sl Exposure Types CCF Notional Credit

Amount Exposure
a) Direct Credit Substitutes 100% - -

b) Lending of securites or posting of securities

as collateral - -

c) Other commitment with certain drawdown - -

d) Performance related contingencies 50% - -

e) Commitments with original maturity over one year or less - -

f) Trade related contingencies 20% - -

g) Commitment with original maturity of one year or less

h) Other commitments that can be unconditionally cancelled 0% - -

by any time

i) Foreign exchange contract - -

Total - -

Note-1 : See Table 4 and Table 5

The UAE- Bangladesh Investment Company Limited

Work Sheet 3:
Risk Weighted Asset for Market Risk Balance Sheet Exposures
For the period ended September 30, 2011

(Amount in crore Taka)

Sl. Market Risk Total Capital

Charge

A. Interest Rate Related Instruments -

B. Equities -

C. Foreign Exchange Position (if any) -

D. Commodities (if any) -

Total -
The UAE- Bangladesh Investment Company Limited
Work Sheet 3 (a) :
Specific Market on Interest Rate Related Instuments
For the period ended September 30, 2011

(Amount in crore Taka)

Categories Market Capital Capital

Value Charge Charge
Weights
(%)

Government (Domestic Currency) - 0 -

0 -
- 0.25 -
- 1 -
Government (Other than Domestic Currency) - 1.6 -
- 10 -
- 12 -
- 10 -
- 0.25 -
Qualifying - 1 -
- 1.6 -
- 2 -
- 6 -
Other - 10 -
- 12 -
- 10 -
 The UAE- Bangladesh Investment Company Limited
Work Sheet 3(b)
General Market Risk on Interest Rate Related Instruments
For the period ended September 30, 2011

(Amount in crore Taka)

Time band Individual Positions

Risk Between
Zone Coupon 3% Coupon Debt Secuirites & Interest rate Total Weight Weighted Positions By band By Zone Zones
or more less than 3% Debt derivatives derivatives

Long Short Long Short Long Short Long Short Matched Unmatched Matched Unmatched Matched
1 1 month or less 1month or less 0.00%
1 to 3 months 1 to 3 months 0.20%
3 to 6 months 3 to 6 months 0.40%
6 to 12 months 6 to 12 months 0.70%
2 1 to 2 years 1 to 1.9 years 1.25%
2 to 3 years 1.9 to 2.8 years 1.75%
3 to 4 years 2.8 to 3.6 years 2.25%
3 4 to 5 years 3.6 to 4.3 years 2.75%
5 to 7years 4.3 to 5.7 years 3.25%
7 to 10 years 5.7 to 7.3 years 3.75%
10 to 15 years 7.3 to 9.3 years 4.50%
15 to 20 years 9.3 to 10.6years 5.25%
Over 20 years 10.6 to 12 years 6.00%
12 to 20 years 8.00%
Over 20 years 12.50%
Total
OVERALL NET OPEN POSITION

Horizontal disallowance in Horizontal disallowance between Overall Total General

Calculation Vertical Zone-1 Zone-2 Zone-3 Zone 1&2 Zone 2&3 Zone 1&3 net open Market Risk
disallowance position Capital
Charge

General Market Risk Capital Charge

 The UAE- Bangladesh Investment Company Limited
Work Sheet 3 (C): Capital Charge on Equities
For the period ended September 30, 2011

(Amount in crore Taka)

Sl. Particulars Amount RW Capital

(Market
Value) Charge

a. Specific Risk - 10% -

b. General Market Risk - 10% -

Total - -

Work Sheet 3 (d): Capital Charge on Foreign Exchange Position

(Amount in crore Taka)

Sl. Particulars Amount RW Capital

Charge

a. Sum of Net Short Position - - -

b. Sum of Net Long Position - - -

Total - - -

Work Sheet 3 (e): Capital Charge for Commodities

(Amount in crore Taka)

Sl Particulars Amount RW Capital

Charge

a. Directional Risk - - -

b. Basis Risk - - -
Total - - -

Work Sheet 4: Capital Charge for Operational Risk (Basic Indicator Approach)

(Amount in crore Taka)

Sl Operational Risk year 2010 year 2009 year 2008 Capital

Charge

a. Gross Income 5.04 3.37 3.15 0.58

 The UAE- Bangladesh Investment Company Limited
For the period ended September 30, 2011

Miscellaneous-1

(Amount in crore Taka)

Sl Particulars Cost Price Market Price

a. Total Equity Investment in unquoted share 0.19 0.19

b. Total investment in Quoted share excluding Director Equity Shares 0.78 -

c. Total Equity investment in Quoted Share as Director Share - -

Miscellaneous-2

(Amount in crore Taka)

Sl Particulars Amount

a. Total Staff Loan 0.01

b. Advance Government Tax 0.02

c. Actuarial Gain/(Loss) -

d. Cumulative Loss -

e. Special Mention Account (SMA) -

f. Substandard (SS) -

g. Doubtful (DF) -

h. Bad/ Loss (BL) -

i. Total Retail Loan -

j. Maximum amount of the Individual Retail Loan -

k. Foreign currency contract -

l. Total margin in Off-Balance Sheet Item -

Miscellaneous-3: Capital Maintained with Bangladesh Bank

(Amount in crore Taka)

Sl Particulars Amount

a. Foreign Currency Lien with Bangladesh Bank -

b. Local Currency Lien with Bangladesh Bank -

c. Approved Securities Lien with Bangladesh Bank (Net Present Value) -

Total -
 THE UAE-BANGLADESH INVESTMENT COMPANY LIMITED
STATUS OF INVESTMENT PORTFOLIO
FOR THE QUARTER ENDED SEPTEMBER 30, 2011
A. Term Loan
Figure in Taka
Sl. Name of the Client/Project Loan Sanctioned Loan Disbursed Term Instalment Total Outstanding Remarks
No. Date Amount Date Amount (years) Amount Recovery

1 Grameen Fund - 1st Phase 19-03-2008 20,000,000 23-03-2008 20,000,000 5 1,484,375 11,250,000 8,750,000 Regular

2 Grameen Fund - 2nd Phase 11-10-2009 20,000,000 10-11-2009 20,000,000 5 1,484,375 3,750,000 16,250,000 Regular

3 MIDAS Financing Limited 11-10-2009 20,000,000 16-11-2009 20,000,000 3 2,131,726 10,167,240 9,832,760 Regular

4 Venture Investment Partner Bangladesh Limited 03-03-2010 20,000,000 28-02-2010 20,000,000 5 1,423,613 3,641,257 16,358,743 Regular

5 Harvest Rich Multiple Feed Mills Limited 02-03-2011 40,000,000 03-03-2011 40,000,000 3 4,018,483 5,721,521 34,278,479 Regular

6 IPDC of Bangladesh Limited 05-04-2010 40,000,000 06-03-2011 40,000,000 5 2,792,555 1,592,555 38,407,445 Regular

7 Thengamara Mohila Sabuj Samity (TMSS) 14-02-2010 20,000,000 21-06-2011 20,000,000 5 1,454,174 - 20,000,000 Repayment from 21-03-2012

8 International Leasing & Financial Services Ltd. 31-03-2011 30,000,000 30-06-2011 30,000,000 5 2,321,899 - 30,000,000 Repayment from 30-03-2012

210,000,000 210,000,000 36,122,573 173,877,427

B. Equity Investment

Sl. Name of the Client/Project Amount Remarks

No. Outstanding

1 Basic Dredging Company Limited 27,000,000 Litigations process is going on.

2 Khulna Power Company Limited 5,226,329

32,226,329

C. Total Investment as on 31-08-2011 (A+B) 206,103,756

 The UAE-Bangladesh Investment Company Limited
Deposit Classification Matrix
(Sectors and instruments)
For the month of November, 2011
Tk. In Thou.
Sectors Govt. Sector Other Public Sector Private Sector
Code Presidency Autonomous Schedule d Local public Non Non Bank Other financial Insurance Non Bank Other financial Insurance Financial Other Non Non profit Household
Nos PM's office and Banks Authorities financial financial intermed iaries companies & financial intermediaries- companies & auxiliarie s- financial institutions Redsident
Ministries & Semiautonom Corporations depository public Pension funds depository Private Pension funds private corporations- serving
Judiciaries ous bodies Corporation public Corporation private Private Households
public private

Instruments

32110 32120 32500 32210 32220 32230 32240 32250 32330 32340 32350 32360 32370 32380 32390

1. Fixed Deposits 32950 NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL

2. Short term Deposits 32951 NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL

3. Long term deposits 32952 NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL

4. NCD & Promissory Notes 32981 NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL
5. Restricted (Blocked) Deposits
32912 NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL

6. Other Deposits (Please Specify) 32999 NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL

Accrued Interest 32991 NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL

Total NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL NIL

Note : Grand total must agree with item 3 on the liability side of the return.
TABLE-A

Tk. In Thou.

Total

NIL

NIL

NIL

NIL

NIL

NIL

NIL

NIL
 Annexure - C
The UAE- Bangladesh Investment Company Limited
Minimum Capital Requirement and Risk-Weighted Assets
as defined by Basel Accord for Financial Institution (BAFI)
For the year ended 31 December 2012

31.12.2012 31.12.2011
Taka Taka

I. Minimum Capital Requirement (MCR)

A. Eligible Capital:
1. Core Capital (Tier- I)
a Paid up capital 1,000,000,000 157,810,000
b Special reserve 16,779,107 31,562,000
c Statutory reserve 119,809,102 103,242,982
d Retained earnings 19,672,269 310,840,987
1,156,260,478 603,455,969
Less: Capital charge (50% from Tier-I) for exceeding the
approved limit - -
1,156,260,478 603,455,969

2. Supplementary Capital (Tier - II)

a General provision (1% on unclassified loans & investments) 3,208,412 1,839,119
Less: Capital charge (50% from Tier-I) for exceeding the
approved limit - -
3,208,412 1,839,119
3. Total Eligible Capital (1+2) : 1,159,468,890 605,295,088

B. Risk Weighted Assets (RWA)

1. Credit risk - -
a Balance sheet exposure 1,285,718,465 703,101,748
b Off-balance sheet exposure - -
2. Market risk 311,988,154 6,995,669
3. Operational risk 125,410,122 84,922,665
Total Risk Weighted Assets (RWA) 1,723,116,741 795,020,081

C. Required Capital on Risk Weighted Assets

(10% on Total Risk Weighted Assets for 2011 under Basel II) 172,311,674 79,502,008

D. Capital Surplus/(Shortfall) [A-C] 987,157,216 525,793,080

Capital Adequacy Ratio (CAR) (A3 / B) * 100 67.29% 76.14%

Core Capital to RWA (A1 / B) * 100 67.10% 75.90%
Supplementary Capital to RWA (A2 / B) * 100 0.19% 0.23%

Capital Adequacy Ratio (CAR) have been calculated in 2011 as per DFIM Circular No. 14 dated 28-12-2011 and
prudential guidelines on capital adequacy and market discipline for Financial Institutions (BAFI) issued by Department of
Financial Institutions and Markets of Bangladesh Bank dated December 2010.

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