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NOTES TO THE UNCONSOLIDATED
FINANCIAL STATEMENTS
For the year ended June 30, 2020
2020 2019
Note (Rupees ‘000) (Rupees ‘000)
9. INTANGIBLE ASSET
Computer Software 9.1 67,168 66,161
Development cost – in progress 104,291 –
171,459 66,161
9.1 Computer Software
Cost:
Opening balance 130,994 98,196
Addition during the year 15,938 32,798
146,932 130,994
Amortization:
Opening balance 64,833 55,786
For the year amortization 9.1.1 14,931 9,047
79,764 64,833
Net book value 67,168 66,161
Amortization rate 20% 20%
9.1.1 Amortization expense relating to intangible assets of Rs. 5,577 thousand (2019: Nil) has been charged in
‘Cost of sales’ and Rs. 9,354 thousand (2019: 9,047 thousand) in ‘Administrative expenses’.
2020 2019
Note (Rupees ‘000) (Rupees ‘000)
10. LONG TERM INVESTMENTS
Unquoted equity – at cost
Subsidiary company
IL Apparel (Pvt) Limited 10.1 1,045,000 700,000
Associated company
IL Bangla Limited 10.2 308,735 308,735
Others – at amortized cost
Term finance certificates – TFCs 10.3 500,000 –
1,853,735 1,008,735
10.1 104.5 million (2019: 50 million) ordinary shares of Rs. 10/– each amounting to Rs. 1,045 million (2019: Rs.
500 million and Rs. 200 million as share deposit money). Equity held 100%.
2020 2019
Note (Rupees ‘000) (Rupees ‘000)
10.2 IL Bangla Limited
Cost of investment 10.2.1 308,735 379,549
Provision for impairment loss – (70,814)
308,735 308,735
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