29. Payments to directors and officersThe aggregate amount paid (except directors’ fees for attending board meetings in note 26) during the year to directors andofficers of the Company are disclosed below as required by the Securities and Exchange Rules 1987.RemunerationHouse rentBonusContribution to provident fundGratuityMedical expensesConveyance allowance and transportOther welfare expensesDirectorsTaka4,970,6253,162,5002,062,500497,063621,32865,0451,012,000872,77013,263,831OfficersTaka210,814,048143,081,46158,081,78614,648,59024,294,13017,559,800122,372,36037,734,186628,586,36129.1 During the year no payment has been made to any non-executive director for any special services rendered.30. Capacity utilisation - single shift basisThe Company operates multi-products plants. As a result plant utilisation is not comparable with capacity due to variation ofproduct mix. However, actual production and utilisation for major products groups are as follows:2012 2011ActualActualMajor product group Unit Capacity production Utilisation production Utilisation(In ’000) (In ’000) % (In ‘000) %Sterile dry fill (injectable)Sterile liquid (injectable)Ointments & eye/ear dropsCapsules and tabletsOral liquid & dry syrupWater for injectionPremix feed supplementPremix feed supplementORAL salinePotent ProductsVialsVials & ampoulesTubesCap/TabBottlesAmpoulesKgSachetsSachetsTablets6,50010,5001,500750,00012,0002,5004,0002,50035,0001,000,0003,9999,1468381,038,14315,6352,7974,5712,92872,5601,979,30261.52%87.10%55.87%138.42%130.29%111.88%114.28%117.12%207.31%197.93%3,16413,3262,173943,76613,8352,6314,1322,54243,7171,628,33348.68%126.91%144.87%125.84%115.29%105.24%103.30%101.68%124.91%162.83%31. Contingent liabilities and assets31.1 There are contingent liabilities on account of unresolved disputed corporate income tax assessments involving tax claims bythe tax authority amounting to Tk 25,266,780 for which appeals are pending with the High Court division of the Supreme Court.However, tax paid and provided for the relevant years are adequate to meet the demanded tax, in the event the High Courtmaintains the decision of the Appellate Tribunal.31.2 There are contingent liabilities on account of unresolved VAT cases claimed by the authority amounting to BDT 31,536,974.Out of the total claimed, appeals are pending with the High Court division of the Supreme Court and VAT appellate tribunalamounting to BDT 28,825,822. Appeal is yet to be made in respect of the remaining amount.31.3 <strong>Renata</strong> Limited purchased land of 16.93 acre at Mouza Dhamsur, Union: Mollick Bari, Thana: Bhaluka, Dist.: Mymensing in2011 by BDT 200,163,438. After acquisition local people made disputes on that land and <strong>Renata</strong> Limited filed suit in theMymensing Judge Court which is under trial.•78
31.4 Additional contingent liabilities exist in respect of the following:Outstanding letters of credit (Note 31.4.1)Outstanding guarantees issued by the banks31.4.1 Outstanding letters of credit2012 2011Taka Taka945,547,60253,564,285999,111,887433,767,35220,138,553453,905,905Limit 2012 2011Taka Taka TakaThe Hong Kong and Shanghai Banking Corporation LimitedStandard Chartered Bank LimitedEastern Bank LimitedThe City Bank LimitedCity Bank N.ABank Asia Limited1,250,000,0001,200,000,000450,000,000320,000,000480,000,000250,000,0003,950,000,000368,361,032269,603,56634,723,05819,573,214245,922,3787,364,354945,547,602161,198,379105,576,24858,979,44945,862,83062,150,446-433,767,35232. Capital expenditure commitmentThere was no unprovided committed capital expenditure as at 31 December 2012.33. Dividend paid to non-resident shareholdersDividend paid to non-resident shareholder, Business Research International Corp. Inc. during the year 2012 wasTk.23,581,056 equivalent to US$.286,560.41 for their 4,912,720 shares.34. Claims against the company not acknowledged as debtNone at 31 December 201235. Payments/receipts in foreign currency35.1 During the year the following payments were made in foreign currency for imports calculated on CIF basis of:Active, raw and packaging materialsMachinery and sparesForeigncurrencyUS$28,157,9294,591,18932,749,118LocalcurrencyTaka2,252,634,353367,295,1052,619,929,45835.2 The following expenses were incurred during the year in foreign exchange on account of:Professional consultation fee for ISO 9001Export promotional expensesProduct registrationUS$US$US$331,311357,9499,86835.3 Foreign exchange was earned in respect of the following:Export of goods on FOBUS$3,236,39279 •renata annual report 12
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