Annexure

KARIM SPINNING MILLS LTD

Summary of Revaluation of Fixed Assets as of 30 June 2010

Group of fixed assets Schedule Depreciated Depreciated Revaluation

historical cost current cost surplus
Taka Taka Taka

Lands and land development A 6,563,426 329,521,500 322,958,074

Buidlings and other constructions B 86,738,001 224,122,380 137,384,379

Plant and machinery C 514,229,250 684,914,394 170,685,144

Other fixed assets 24,181,945 24,181,945 -

Total 631,712,622 1,262,740,219 631,027,597

42258916.xls
 Schedule-A
KARIM SPINNING MILLS LTD
REVALUATION OF LAND & LAND DEVELOPMENT AS OF 30 JUNE 2010

LOCATION SALE DEED DATED MOUZA S.A R.S. AREA IN RATE PER CURRENT
No. KHATIAN KHATIAN DECIMAL DECIMAL VALUATION

01 02 03 04 05 06 07 09 10
###

Dewalia Bari, Konabari,Gazipur. 13880 23/07/2001 Mirpur 21 286 246.00

13880 23/07/2001 Mirpur 178 49 108.00
13880 23/07/2001 Mirpur 243/163 460 8.00
13880 23/07/2001 Mirpur 347 350 190.00

Dewalia Bari, Konabari,Gazipur. 5239 19/03/2002 Mirpur 413 320 44.00

Dewalia Bari, Konabari,Gazipur. 14960 16/08/2000 Mirpur 178 49 3.13

599 550,000 329,521,500

42258916.xls
 Schedule-B
KARIM SPINNING MILLS LTD
REVALUATION OF BUILDINGS & OTHER CONSTRUCTIONS AS OF 30 JUNE 2010

CURRENT YEAR OF ESTIMATED PERCENTAGE DEPRECIATED

Sl No PARTICULARS DETAILED DESCRIPTION AREA (sft) RATE COST OF LIFE UNEXPIRED CURRENT COST
Taka/sft. Taka ACQ. (YEARS) LIFE Taka

01 Two Storied main factory building Ground floor.

Built of burnt bricks wall,mosaic floor,RCC beam/colum/roof. 03 89,974 1,500 134,961,000 2001 50 80.0% 107,968,800
big steel gate,01 small gate etc.average height 18ft.

1St floor
Built for burnt bricks/C.I.sheet wall, pucca floor, pre-fabricated 91,674 700 64,171,800 2008 50 94.0% 60,321,492
roof over steel sructure etc. some porting finishing work is in
progrees measuring.

02 A.C. plant building Built in burnt bricks wall, pucca floor with under ground ducting
(03 Nos) RCC beam/colum/roof, air type door etc. measuring .
A. 3607sft X 3 floor = 10821sft.
B. 2492 sft X 3 floor = 7476 sft. 20,847 1,300 27,101,100 2001 50 80.0% 21,680,880
C. 1275 sft X 2 floor = 2550 sft.

03 Office Building Ground to 2nd floor

(03 storied) Built in burnt bricks wall, pucca/ mosaic/tiles floor, thai aluminium 13,821 1,200 16,585,200 2004 50 86.0% 14,263,272
wooden door,thai aluminium window with galss and gril etc.
measuring 4607 sft X 3 floor .

04 Generator House Built in burnt bricks wall, pucca floor, RCC beam/colum/roof etc. 2,760 1,500 4,140,000 2001 50 80.0% 3,312,000
(Single storied) average height 20 ft measuring .

05 Two Storied Pump House Cum Construction same as that of generator house except height 1,310 1,200 1,572,000 2001 50 80.0% 1,257,600
SubStation Building measuring 655 sft X 2 floor.

06 Raw Cotton Godown Building. Built in burnt bricks/ stell wall, pucca floor. C.I. sheet roff over
( 03 Nos) MS angle, stell gate etc. measuring:
A. 6407 sft 500 3,205,500 2001 50 80.0% 2,564,400
B. 6423 sft 525 3,372,075 2005 50 88.0% 2,967,426
C. 6990 sft 550 3,844,500 2006 50 90.0% 3,460,050

07 Corridor Built in burnt bricks wall,pucca floor,C.I. sheet roof over M.S. 4,209 500 2,104,500 2007 50 92.0% 1,936,140
Angle etc.measuring

08 Staff quarter cum canteen building Built in burnt bricks wall,pucca floor,C.I. sheet roff over M.S. 2,000 550 1,100,000 1998 50 74.0% 814,000
angle sheet,stell door and window etc.measuring

09 Boiler House Built in Burnt bricks waii, pucca floor , C.I.Sheet roof over MS 575 500 287,500 2008 50 94.0% 270,250
angle etc. Measuring

10 R.M.S Building Build in burnt bricks wall,pucca/Sand floor,RCC beam/Colum/

roof,steel gate etc. measuring 175 1,000 175,000 2001 50 80.0% 140,000

11 Security Guard Room Construction same that of Staff quarter . Measuring 410 550 225,500 1998 50 74.0% 166,870

12 Reservoir Tank Pucca floor, burnt bricks wall, rcc beam/colum/roof etc.
measuring 949 1,000 949,000 2001 50 80.0% 759,200

13 Safety Tank Construction same that of reserver tank . Measuring 300 1,000 300,000 2001 50 80.0% 240,000

14 Other Costs
Pacca Drain, Sewarage pipe line Boundary wall with gate 2,500,000 2001 50 80.0% 2,000,000
229,004 266,594,675 224,122,380
 Generation Next Fashions Limited
Revaluation Machinery as of 31/12/2009

Schedule-C
KARIM SPINNING MILLS LTD
REVALUATION OF PLANT & MACHINERY AS OF 30 JUNE 2010

Items Country Original Eqv. To USD Current Estimated Current Cost Life Depreciated
of Origin Qnty Foreign Foreign Rate of Est life
Currency Cost Currency Cost Exchange Clearing & Errection & Years Unex- Current
(US$) (US$) on L/C Charge Insurance Assessable Duties and Total Current Date of
C & F Value Forwarding Instalation pired Depreciated
30.06.2010 1% 1% Value Taxes 3% Cost Acquisition
Charges 8% 10% life % Cost

1 2 3 5 6 7 8 9 10 11 12 13 15 16 17 18 19 20
Toyata Simplex (Model-FL- Japan 3 Sets USD 372000 372,000 446,400 69.43 30,993,552 309,936 309,936 31,613,423 948,403 2,529,074 3,161,342 38,252,242 20/06/2001 20 50% 19,126,121
100)

BackProchess Switzerland Full Set CHF 2629000 1,531,890 1,838,268 69.43 127,630,947 1,276,309 1,276,309 130,183,566 3,905,507 10,414,685 13,018,357 157,522,115 17/05/2001 20 50% 78,761,058
Machinery(Rieter)

Gas Genarator (Waukesha USA 1Set USD 302500 302,500 363,000 69.43 25,203,090 252,031 252,031 25,707,152 771,215 2,056,572 2,570,715 31,105,654 06/11/2001 20 55% 17,108,110
VHP 5904GSID)

Automatic Cone Winder Japan 2 Sets DEM 630000 301,880 362,256 69.43 25,151,434 251,514 251,514 25,654,463 769,634 2,052,357 2,565,446 31,041,900 26/06/2001 20 50% 15,520,950
(Murata V-7)

Luwa Ventilation & Switzerland CHF 600000 338,555 406,266 69.43 28,207,048 282,070 282,070 28,771,189 863,136 2,301,695 2,877,119 34,813,139 18/05/2001 20 50% 17,406,570
Humidification Plant
Lakshmi Ring Frame (Model- India 12 Sets USD 846720 846,720 1,016,064 69.43 70,545,324 705,453 705,453 71,956,230 2,158,687 5,756,498 7,195,623 87,067,038 05/11/2001 20 55% 47,886,871
LR 6/A)
Schlafhorst Autoconner 338 Germany 2 Unit DEM 648000 320,312 384,374 69.43 26,687,115 266,871 266,871 27,220,857 816,626 2,177,669 2,722,086 32,937,237 10/10/2001 20 55% 18,115,480
Type RM/60 winding heads

Ring Frame(Model F1518- China 4 Sets USD 300336 300,336 360,403 69.43 25,022,794 250,228 250,228 25,523,250 765,698 2,041,860 2,552,325 30,883,133 09/03/2001 20 50% 15,441,566
1008)

Waukesha Gas Genarator USA 1 Set USD 330000 330,000 396,000 69.43 27,494,280 274,943 274,943 28,044,166 841,325 2,243,533 2,804,417 33,933,440 18/03/2001 20 50% 16,966,720
(Model VHP5904GSID)

Uster Autosorter Switzerland 1Unit CHF 10300 6,153 7,384 69.43 512,643 5,126 5,126 522,896 15,687 41,832 52,290 632,704 09/11/2001 20 55% 347,987

Uster Tester Switzerland 1 Unit CHF 132700 79,272 95,126 69.43 6,604,626 66,046 66,046 6,736,718 202,102 538,937 673,672 8,151,429 09/11/2001 20 55% 4,483,286

LT Switchgear components France/EEC 1 Lot FF 1010000 139,000 166,800 69.43 11,580,924 115,809 115,809 11,812,542 354,376 945,003 1,181,254 14,293,176 08/06/2001 20 50% 7,146,588
Busber Tranking & Lighting

Automatic Cone Winder Japan 1 Sets DEM 315000 142,076 170,491 69.43 11,837,204 118,372 118,372 12,073,948 362,218 965,916 1,207,395 14,609,477 21/08/2001 20 55% 8,035,212
(Murata 7-V)

Kaeser Compressure (Model Germany DEM 80464 36,292 43,550 69.43 3,023,704 30,237 30,237 3,084,178 92,525 246,734 308,418 3,731,856 26/06/2001 20 50% 1,865,928
TF 201)

Colling Tower (Lilian Brand) Malayasia 2 Unit USD 16800 16,800 20,160 69.43 1,399,709 13,997 13,997 1,427,703 42,831 114,216 142,770 1,727,521 27/07/2001 20 55% 950,136
Model No-LCT-350
 Generation Next Fashions Limited
Revaluation Machinery as of 31/12/2009
of Origin Qnty Foreign Foreign Rate of Est life
Currency Cost Currency Cost Exchange Clearing & Errection & Years Unex- Current
(US$) (US$) on L/C Charge Insurance Assessable Duties and Total Current Date of
C & F Value Forwarding Instalation pired Depreciated
30.06.2010 1% 1% Value Taxes 3% Cost Acquisition
Charges 8% 10% life % Cost

Simplex Bobin (Naval ABS) India 30000 Pcs USD 21000 21,000 25,200 69.43 1,749,636 17,496 17,496 1,784,629 53,539 142,770 178,463 2,159,401 09/10/2001 20 55% 1,187,670

Sliver Cans India 1100 Pcs USD 25600 25,600 30,720 69.43 2,132,890 21,329 21,329 2,175,547 65,266 174,044 217,555 2,632,412 21/08/2001 20 55% 1,447,827

Optical Cotton Shorter ( Barco) Belgium 1 Unit EUR 118000 110,590 132,708 69.43 9,213,916 92,139 92,139 9,398,195 281,946 751,856 939,819 11,371,816 19/09/2001 20 55% 6,254,499

Uster Hvi Sepctrum for USA 1 Unit CHF 210000 128,450 154,140 69.43 10,701,940 107,019 107,019 10,915,979 327,479 873,278 1,091,598 13,208,335 24/10/2001 20 55% 7,264,584
Boundle Fiber Testing

Perfect Cot Grinding India 1 Unit USD 12000 12,000 14,400 69.43 999,792 9,998 9,998 1,019,788 30,594 81,583 101,979 1,233,943 24/10/2001 20 55% 678,669
Machine(Model-BM 1)

Multi Roller mounting Machine India 1 Pcs USD 15500 15,500 18,600 69.43 1,291,398 12,914 12,914 1,317,226 39,517 105,378 131,723 1,593,843 29/05/2003 20 60% 956,306
(Lakshmi)
Toyota Simples(FL 100) Japan 3 Sets USD 360000 360,000 432,000 69.43 29,993,760 299,938 299,938 30,593,635 917,809 2,447,491 3,059,364 37,018,299 24/09/2004 20 70% 25,912,809

Cards C51 Blowroom 8 set & Switzerland 10 Sets USD 1022500 1,022,500 1,227,000 69.43 85,190,610 851,906 851,906 86,894,422 2,606,833 6,951,554 8,689,442 105,142,251 28/05/2004 20 65% 68,342,463
Drawframe 2 Sets

Ring Frame (Lakshmi) India 16 Nos USD 1224000 1,224,000 1,468,800 69.43 101,978,784 1,019,788 1,019,788 104,018,360 3,120,551 8,321,469 10,401,836 125,862,215 28/05/2004 20 65% 81,810,440

Humidification Plant (Luwa) European 1 Set USD 260000 260,000 312,000 69.43 21,662,160 216,622 216,622 22,095,403 662,862 1,767,632 2,209,540 26,735,438 07/12/2001 20 70% 18,714,807

Schlafhorst Autoconor 338 RM Germany 4 Sets EUR 604000 773,515 928,218 69.43 64,446,176 644,462 644,462 65,735,099 1,972,053 5,258,808 6,573,510 79,539,470 04/04/2004 20 65% 51,700,656
60

Waukesha Gas Genarator USA 1 Unit USD 290000 290,000 348,000 69.43 24,161,640 241,616 241,616 24,644,873 739,346 1,971,590 2,464,487 29,820,296 06/02/2004 20 65% 19,383,192
(Model VHP5904GSID)

Busber Tranking Fracnce 1 Lot EUR 42000 52,572 63,086 69.43 4,380,089 43,801 43,801 4,467,691 134,031 357,415 446,769 5,405,906 12/7/2004 20 70% 3,784,134

Cooling Tower (Liner Brand) Malayasia 1 Nos USD 7000 7,000 8,400 69.43 583,212 5,832 5,832 594,876 17,846 47,590 59,488 719,800 12/7/2004 20 70% 503,860

Kaeser Compressor Germany 1 Pcs EUR 15025 17,590 21,108 69.43 1,465,528 14,655 14,655 1,494,839 44,845 119,587 149,484 1,808,755 7/7/2004 20 70% 1,266,129

Eureka ElectronicTwist India 1 Pcs USD 2218 2,218 2,662 69.43 184,795 1,848 1,848 188,491 5,655 15,079 18,849 228,074 6/8/2004 20 65% 148,248
Tester(EY-60A)

Bobin (Mokasa) India 35000 Pcs USD 24150 24,150 28,980 69.43 2,012,081 20,121 20,121 2,052,323 61,570 164,186 205,232 2,483,311 10/9/2004 20 70% 1,738,318

Kamatsu Diesel Fork Lift Japan 1 Pcs USD 20500 20,500 24,600 69.43 1,707,978 17,080 17,080 1,742,138 52,264 139,371 174,214 2,107,986 15/04/2005 20 70% 1,475,591
(FD30T-16)

Schlafhorst Autoconer (338 Germany 1 Set EUR 157810 202,974 243,569 69.43 16,910,982 169,110 169,110 17,249,201 517,476 1,379,936 1,724,920 20,871,534 15/03/2005 20 70% 14,610,074
Type RM/60 Winding Head)
 Generation Next Fashions Limited
Revaluation Machinery as of 31/12/2009
of Origin Qnty Foreign Foreign Rate of Est life
Currency Cost Currency Cost Exchange Clearing & Errection & Years Unex- Current
(US$) (US$) on L/C Charge Insurance Assessable Duties and Total Current Date of
C & F Value Forwarding Instalation pired Depreciated
30.06.2010 1% 1% Value Taxes 3% Cost Acquisition
Charges 8% 10% life % Cost

Uniflock-1 unit Card C51-1 unit Switzerland 8 Unit CHF 970000 738,708 886,450 69.43 61,546,196 615,462 615,462 62,777,120 1,883,314 5,022,170 6,277,712 75,960,315 19/12/2005 20 75% 56,970,236
Unilap E32-1 unit Comber E65-
5 Unit (Reiter)

Uster AFIS Base unit-1 pcs Switzerland 2 pcs CHF 140000 102,246 122,695 69.43 8,518,728 85,187 85,187 8,689,102 260,673 695,128 868,910 10,513,814 12/12/2005 20 75% 7,885,360
module L&M-1 Pcs

FG Willson Diesel Genarator UK 1 Set USD 105000 105,000 126,000 69.43 8,748,180 87,482 87,482 8,923,144 267,694 713,851 892,314 10,797,004 28/10/2005 20 75% 8,097,753
(model-P1000P1)

Fiber Depositing Plant (SZG- China 1 Unit USD 25072 25,072 30,086 69.43 2,088,899 20,889 20,889 2,130,677 63,920 170,454 213,068 2,578,119 5/12/2005 20 70% 1,804,683
11-60)

Flat Mounting M/C-1 pc, India 02 pcs USD 20000 20,000 24,000 69.43 1,666,320 16,663 16,663 1,699,646 50,989 135,972 169,965 2,056,572 23/08/2006 20 80% 1,645,258
Grinding M/C-1pc

Laxmi Single Cylinder Hydrolic India 1 Pc USD 12640 12,640 15,168 69.43 1,053,114 10,531 10,531 1,074,177 32,225 85,934 107,418 1,299,754 25/07/2006 20 80% 1,039,803
Bailing Press M/C

Humidification Plant China 1 Lot 44,400 69.43 3,082,692 30,827 30,827 3,144,346 94,330 251,548 314,435 3,804,658 31/10/2006 20 80% 3,043,727
(Changshu) USD 37000 37,000.00
Cargo Lift( Autinor Brand) China 1 unit USD 22280 22,280 26,736 69.43 1,856,280 18,563 18,563 1,893,406 56,802 151,472 189,341 2,291,021 21/04/2008 20 85% 1,947,368

Loptex Cotton Contamination Italy 1 Set EUR 130000 170,101 204,121 69.43 14,172,135 141,721 141,721 14,455,578 433,667 1,156,446 1,445,558 17,491,249 9/12/2008 20 90% 15,742,124

Cot Mounting Machine (Bharat) India 1 set USD 10800 10,800 12,960 69.43 899,813 8,998 8,998 917,809 27,534 73,425 91,781 1,110,549 29/01/2007 20 80% 888,439

Machinery Local (Varrious) B Desh TK. 643430 - - - - - - - - - 772,116 2001 20 50% 386,058
Machinery Local (Varrious) B Desh Tk 450000 - 540,000 2004 20 65% 351,000
Instalation (Gas Line & Electric) - - - - - - - - Time to time 20 65% 8,769,727
13,491,888.00

- - - -
- - -
- - -
Total -
- 906,294,118 9,062,941 9,062,941 892,806,578 27,732,600 73,953,600 92,442,000 1,133,352,205 684,914,394
 Generation Next Fashions Limited
Revaluation Machinery as of 31/12/2009

0.550
 Generation Next Fashions Limited
Revaluation Machinery as of 31/12/2009

0.75
 Karim Spinning Mills Limited
Statement of stocks of store

2008-09 2009-10
Particulars
Qty(Kg) Rate per Kg Amount in Taka Qty(Kg) Rate per Kg Amount in Taka

Raw Cotton Stock 198,675.13 105.14 20,887,896.07 541,644.47 141.11 76,430,728.26

Waste Cotton Stock 21,973.00 37.01 813,198.01 22,842.00 12.97 296,366.17
Finished Goods Stock 268,337.00 163.94 43,991,399.20 579,281.53 203.05 117,624,385.61
Work in Process 51,550.00 136.30 7,026,095.92 46,050.00 187.04 8,613,220.00

Statement of others materials

Printing & Stationery - - 53,839.12 - - 54,543.18

Dyes & Chemicals - - 23,142.00 - - 14,962.00
Installation & Utilities - - 20,124.59 - - 56,981.98
Hardware - 44,761.64 - - 50,613.48
Loose Tools - - 4,332.33 - - 258,398.33
Lubricants & Oil - 1,659,821.53 - - 932,733.55
Mechanical Spare parts - - 15,637,464.10 - - 15,030,605.33
Electrical Spare Parts - - 4,730,126.93 - - 7,304,365.33
Workshop Items - - 16,800.00 - - -
Others Materials - - 4,240.09 - - 7,329.51
Packing Materials - - 419,027.35 - - 559,450.05
-
Total 95,332,268.88 227,234,682.78
 KARIM SPINNING MILLS LIMITED
RICHMOND CONCORD (5TH FLOOR)
68 GULSHAN AVENUE, GULSHAN-1, DHAKA-1212

Schedule of fixed assets as on 30-06-2010 as per required rate of dep.

Sales Existing Required Accumulated Written down

Sl. Total Cost as on Addition During Total Cost as on Depreciation Depreciation as on Depreciation
Name of Assets During rate of Rate of Depreciation as on value as on
No. 30-06-2009 the year 30-06-2010 Charges on 30-06-2009 During the year
the year Dep. Dep 30-06-2010 30-06-2010

1 Land & Land Development 6,563,426.00 - - 6,563,426.00 6,563,426.00 - - - - - 6,563,426.00

2 Building & Construction 95,276,958.33 4,153,135.00 - 99,430,093.33 95,276,958.33 2.5% 2.0% 11,006,687.00 1,685,405.00 12,692,092.00 86,738,001.33
3 Plant & Machinery (Imported) 697,697,040.88 - - 697,697,040.88 697,697,040.88 5% 5.0% 164,261,275.00 26,671,788.00 190,933,063.00 506,763,977.88
4 Plant & Machinery (Local) 1,084,430.00 - - 1,084,430.00 1,084,430.00 10% 5.0% 450,563.00 31,693.00 482,256.00 602,174.00
5 Installation 13,108,491.00 383,397.00 - 13,491,888.00 13,108,491.00 10% 10.0% 5,908,823.00 719,967.00 6,628,790.00 6,863,098.00
6 Furniture & Fixture 6,558,710.00 158,837.00 - 6,717,547.00 6,558,710.00 10% 10.0% 2,726,671.00 383,204.00 3,109,875.00 3,607,672.00
7 Transport & Vehicals 37,007,410.00 - - 37,007,410.00 37,007,410.00 15% 10.0% 16,827,249.00 2,018,016.00 18,845,265.00 18,162,145.00
8 Telephone Set 465,923.00 13,500.00 - 479,423.00 465,923.00 10% 10.0% 148,039.00 31,788.00 179,827.00 299,596.00
9 Crockeries & Cutlaries 41,684.00 - - 41,684.00 41,684.00 20% 10.0% 29,762.00 1,192.00 30,954.00 10,730.00
10 Factory Equipment 1,880,267.00 67,110.00 - 1,947,377.00 1,880,267.00 10% 10.0% 429,630.00 145,064.00 574,694.00 1,372,683.00
11 Office Equipment 530,217.00 60,900.00 - 591,117.00 530,217.00 10% 10.0% 66,760.00 46,346.00 113,106.00 478,011.00
Residence Furniture
12 91,820.00 - - 91,820.00 91,820.00 20% 10.0% 61,732.00 3,009.00 64,741.00 27,079.00
(Foreigner)
13 Computer 288,850.00 25,500.00 - 314,350.00 288,850.00 10% 10.0% 68,262.00 22,059.00 90,321.00 224,029.00
-
T O T A L 860,595,227.21 4,862,379.00 - 865,457,606.21 860,595,227.21 201,985,453.00 31,759,531.00 233,744,984.00 631,712,622.21
 Karim Spinning Miils Limited
Statement of sales

Particulars 2007-08 2008-09

Amount in Taka Amount in Taka

Export Sales 1,099,935,663.64 917,413,476.20

Add: Yarn sales (local) 979,980.78 8,156,165.00
Add: Excess amount received (Final Proceeds) 18,964,128.01 3,197,642.61
Less: Short realised (Final proceeds) (1,626,199.93) (2,612,393.27)
1,118,253,572.50 926,154,890.54
d

2009-2010
Amount in Taka

1,012,586,381.58
4,243,359.54
5,622,246.66
(440,787.29)
1,022,011,200.49