Millat Vehicles Limited

 Essay regarding Millat Tractors Limited

subject: Economical Reporting

Millat Tractors Limited

Synopsis of Annual Director survey 2013

Touqeer Hussain Awan

Submitted To:

Sir Ubaid Ur Rehman

REGARDING MILLAT TRACTORS LIMITED

BOARD OF DIRECTORS

CHAIRMAN

MISTER. SIKANDAR MUSTAFA KHAN

CHIEF EXECUTIVE

SYED MUHAMMAD IRFAN AQUEEL

MR. LATIF KHALID HASHMI

MR. SOHAIL BASHIR RANA

MR. LAEEQ UDDIN ANSARI

MIAN MUHAMMAD SALEEM

MISTER. MANZOOR AHMED (NIT NOMINEE)

MR. SAAD IQBAL

BUSINESS SECRETARY

MIAN MUHAMMAD SALEEM

CHIEF ECONOMICAL OFFICER

MR. JAVED MUNIR

The Company directors think enjoy presenting all their 50th twelve-monthly report together with audited accounts of the Company for the season ended 06 30, 2013.

APPROPRIATIONS

The Directors suggested a repayment of closing cash dividend @ Rs. 25. 00 per talk about (250%) with issuance of 10% Bonus Shares. The abovementioned payout shall be in adding to the interim cash dividend of Rs. 30. 00 every share (300%) and 10% Bonus shares already given assembly a total payout of Rs. fifty-five. 00 per share (550%) as cash dividend and 20% Reward shares. DIRECTOR REPORT

TOWARDS THE SHAREHOLDERS

INCOME PER TALK ABOUT

Earning every share Summer 30, 2013 was Rs. 53. 14 as against Rs. forty-nine. 11 with the last year.

BOARD OF ADMINISTRATORS

The plank of administrators are 8 which eight were designated in the extra ordinary conference established about November 01, 2012. In the past year MCB Nominee Director Mr. S. Meters Tanveer resigned from the Panel. Since then there have been no difference in the structure of the Plank.

During the year, five Board meetings were hosted. The number of conferences attends simply by each overseer is given hereunder:

Name of director

Meeting joined

Mister. Sikandar M. Khan -- Chairman

five

Syed Muhammad Irfan Aqueel-CEO

4

Mr. Latif Khalid Hashmi

your five

Mr. Sohail Bashir Rana

5

Mister. Laeeq Uddin Ansari

five

Mian Muhammad Saleem

a few

Mr. Manzoor Ahmed

2

Mr. Saad Iqbal

a couple of

HUMAN RESOURCE & REMUNERATION COMMITTEE

The Human Source & Remuneration Committee was making up by the Board in the 139th conference apprehended about November doze, 2012 including of the pursuing members. During the period 1 meeting with the Committee occured. All people were went to the getting together with. DUTY & TAXES

Duty & Income taxes information about taxes are given in the particular paperwork the accounts. AUDITORS

The current auditor M/s Ernst & Young Ford Rohdes Sidat Hyder, CALIFORNIA, retire and give his home again for re-appointment. STATEMENT ON BUSINESS FINANCIAL CONFIRMING FRAME JOB

The Company provides complied with the requirements in the Code of Corporate Governance as necessary by the real estate regulations. In accordance to directors are satisfied to check the following: I. The economic statements with the notes on it have been stretched up on the traditional values together with the company's code, 1984. II. Proper literature and accounts are correct maintained.

III. Accounting policies have been properly maintained which obey the principles to the worldwide accounting requirements as relevant in Pakistan. IV. The IRFS happen to be followed effectively when economic statement was prepared. V. The internal control system is correctly executed.

MIRE. There zero indecision upon the company's power to keep on while going concern. VII. There has been best corporate and business governess practices.

VIII. Working and financial date pertaining to last couple of months is safe and secure. IX. The principles of investment of provident, gratuity and pension funds depending on their audited financial documents as upon dated June 30, 2013. Provident fund Rs. 575 million

Gratuity fundRs. 491 , 000, 000

Pension fundRS. 878 mil

CODE OF CONDUCT

The code of conduct will come in company site. Where specifications and corporate beliefs for campaign of integrity of the table.

RELATED PARTY TRANSACTIONS

Most transaction with related celebrations are reviewed and approved by the plank.

VOLUME OF EMLOYEE

The amount of permanent worker as about June 30, 2013 was 452 when compared to 453 of last year. CONSOLIDATED FINANCIAL STATEMENTS...

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