Cover 1 - Apollo Hospitals Dhaka

Annual Report’ 11
Figures in Taka
31.12.2011 31.12.2010
18.02 Sundry creditors
Patients advance collection 24,553,763 21,774,480
Security deposit received 100,000 100,000
Advance collection from health Clinic 720,929 720,929
Collection from Apollo Health Club 1,800,952 984,000
Other liability 1,058,932 623,045
28,234,576 24,202,454
18.01.01 Management fees payable :
to AHEL: 1% of revenue (a) 25,903,075 22,193,128
to AHEL: 5% of PBDT (a) 6,789,627 9,227,372
to AHEL : fixed fees (a) 6,534,162 5,960,006
39,226,864 37,380,506
to AHEL: Franchise fees (b) 81,617 75,313
39,308,481 37,455,819
a
b
This represents operation management fees payable to AHEL (Apollo Hospitals Enterprise Ltd.) as per agreement
dated 25 June 1998 and supplemental agreements of different dates. According to 2nd Supplementary Agreement
dated 28.01.02, every year during first seven and half years, the fees payable are: a) fixed sum of IRs 4,000,000/-(Rupees
Four Million only) shall be paid in advance for first 2 years and in 4 equated quarterly installments for the remaining
subsequent periods. b) 1% of the Gross Revenue of the hospital business and c) 5% of Profit before Depreciation and
Tax (PBDT) shall be paid on quarterly basis based on provisional accounts drawn at the end of each quarter. However,
the cumulative payment under the above will not exceed Taka 30,000,000 (Thirty Million) in any one year.
This represents royalty payable to AHEL (Apollo Hospital Enterprise Limited) India, @ IRs. 50,000 per annum as
per agreement dated 25 June 1998.
19. Current tax liabilites
Opening balance 11,166,741 -
Provided during the year 13,032,564 11,166,741
24,199,305 11,166,741
Advance tax adjusted during the year 3,427,754
Paid during the year 7,738,987 -
13,032,564 11,166,741
20. Short term bank borrowings
Demand loan-Eastern Bank Ltd. 145,000,000 93,500,000
Demand loan-Commercial Bank of Cyelon Plc - 80,000,000
Import loan-Eastern Bank Ltd. 56,454,925 626,434
201,454,925 174,126,434
This amount forming working capital has been received from Eastern Bank Limited and Commercial Bank of Ceylon
Plc. The demand loan and import loan limits are Tk.250 million and Tk. 80 million respectively.
21. Bank overdraft :
Pubali Bank Limited 131,119,290 129,269,699
Eastern Bank limited 21,708,499 30,972,260
Commercial Bank of Ceylon Plc 9,745,967 9,876,162
162,573,756 170,118,121
These overdraft are secured by first charge on Pari Passu basis over all Fixed Assets (excluding land and building) and
current assets. The overdraft limit of Pubali Bank Limited is Tk. 150 (One hundred fifty) million, Eastern Bank Limited
is Tk. 30 million and Commercial Bank of Ceylon Plc is Tk.10 million.