The New Nation - Internet Edition

BUSINESS REPORT

The shareholders of International Leasing And Financial Services Limited at their 12th Annual General Meeting held on 24th April declared 30% dividend for its shareholders. 20% in the form of Cash and 10% in the form of Bonus Share for the financial year ended 31 December, 2007.

Gavin J. Walker, Director presided over the AGM held at National Shooting FederationBangladesh, Gulshan-1, Dhaka-1212. It was attended by large number of individual shareholders along with representative Directors of Sponsor Shareholders, namely - Singer Bangladesh Ltd., Shaw Wallace Bangladesh Ltd., Jamal Uddin Ahmad Mustafizur Rahman, Managing Director and Nehal Ahmed FCA, Company Secretary were also present in the General Meeting.

U:uring the year 2007, the Company went to public through Initial Public Offering (IPO) of shares for Tk. 112.50 million. The Company purchased a membership of Dhaka Stock Exchange Limited through public auction in order to start Stock Brokerage operations. The meeting has been informed that Company's fully owned subsidiary, International Leasing Securities Limited is expected to start operations very soon which will be notified in due course. The company has made lease and term loan disbursement of Tk. 1.16 billion and Tk. 1.15 billion respectively. Gross disbursement amount stands at Tk. 3.39 billion. Total portfolio size stands at Tk. 8.16 billion. The company also made income of Tk. 52 million from Primary Dealership Operations and Tk. 62 million from Investment in shares.

Cfhe Company has also embarked on diversification plan by opening a branch in Chittagong, opening of Brokerage House and starting Real Estate Finance.

The shareholders appreciated the performance of the Company for the year 2007, which have shown growth in all major areas.