Company’s business type and insight

APEX FOODS is the single largest processor & exporter of frozen seafood in Bangladesh and is
one of the most modern seafood processing plants in Asia, equipped with the latest processing,
freezing and storage machinery. Its high-quality products are well known in the international
seafood market and it has built a blue-chip customer base with a regular order flow.
 This is a cooperation business. Because ownership divided into shares of stock
 Separate legal entity organized under state corporation law
 Limited liability
 OPERATION AND ACTIVITIES OF THE BUSINESS
APEX FOODS is the single largest processor & exporter of frozen seafood in Bangladesh and is
one of the most modern seafood processing plants in Asia, equipped with the latest processing,
freezing and storage machinery. Its high-quality products are well known in the international
seafood market and it has built a blue-chip customer base with a regular order flow.
AFL has different range of products out of these some products are widely accredited in
international market. Followings are some of the famous products of AFL:
 Spicy Garlic Shrimp
 Shrimp Appetizer
 Jumbo Shrimp Parmesan
 Butterfly Shrimp
 Chili Garlic Roasted Shrimp
 Board of director of the business

The board of director of the business of the business are:

The Chairman: Mr. Zafar Ahmed Director: Mr. Eifaz Ahmed

Vice Chairman: Mr. Zahur Ahmed PhD Director: Mr. Ashim Kumar Barua

Managing Director: Mr. Shahriar Ahmed Independent Director: Mr. Kazi Faruq Kader

Director: Mr. Mahir Ahmed

 Main property, plant and equipment

 Land & Land Development

 Factory Building
 Plant & Machinery
 Factory Equipment
 Furniture & Fixtures
 Office Equipment
 Motor Vehicles
 Crockeries
 The users of the account information of the business
The financial statements are used by investors, market analysts, and creditors to evaluate a
company's financial health and earnings potential. The three major financial statement reports are
the balance sheet, income statement, and statement of cash flows.
 The inventories assigned in annual report
The inventories are mainly: Shrimps (Finished Goods), Packing Materials, Chemical Ingredient.
The above Inventories are as per physical checking made, valued and certified by the Internal
Auditors and Management.
 Different administrative expenses
Advertisement 184,575 213,266
AGM Expenses 5,050 213,266117,357
Audit Fees (Including VAT) 402,500 402,500
Board Meeting Fees (Including VAT) 14,850 15,500
Bonus to Staff 2,301,664 2,036,506
Contribution to Provident Fund 1,990,411 1,537,860
Depreciation on tangible Assets 917,870 980,641
Depreciation on Right of Use (ROU) Assets 2,374,388
Directors’ Remuneration 9,300,000 9,300,000
Donation & Subscription 17,500 22,000
Electricity & WASA Charges 378,198 397,292
Entertainment 327,376 495,291
Freight, Forwarding & Export Expenses 68,119,305 33,695,891
General Fees & Charges 28,645 55,799
Guest House Expenses 590,500 619,396
Laboratory Expenses 71,530 315,930
Laboratory Testing Fees 9,292,132 6,657,359
Legal & Professional Fees 205,200 66,700
License & Renewals 703,393 825,994
Medical Expenses 8,286 6,837
Membership Subscription 10,800 10,800
Newspaper & Periodicals 5,026 44,684
Office Maintenance 534,874 531,063
Postage & Stamp 308,808 378,999
Printing & Stationery 703,149 766,336
Corporate Expenses & Others 149,688 2,705,972
VAT on Office Rent 370,314 370,314
Salaries & Allowances 28,447,211 27,418,159
Sales Commission 1,785,882 3,397,132
Sales Promotion Expenses 5,449,378 5,666,176
Sanitation Expenses 199,589 197,403
Staff Fooding 142,739 596,497
Staff Welfare Expenses 1,066,581 937,108
T.A & Conveyance 803,748 1,085,354
Telephone, Telex & Fax 473,575 468,068
Uniform & Liveries 689,056 591,2730
Vehicles Maintenance 1,393,191 1,531,860
---------------- ----------------
139,766,982 104,459,317
 Administrative expenses increased or not and its business
Yes, administrative expenses increased
The reasons are

Main source of the income of the business:

Different component of the payment to managers & director:
Valuation of inventories require subjective adjustment or not: