ACI PHARMACEUTICAL LIMITED

TREND

ACI's mission is to achieve business excellence through quality by understanding, accepting, meeting and exceeding customer expectations. ACI follows International Standards on Quality Management System to ensure consistent quality of products and services to achieve customer satisfaction. ACI also meets all national regulatory requirements relating to its current businesses and ensures that current Good Manufacturing Practices (cGMP) as recommended by World Health Organization is followed properly. ACI has been accepted as a Founding Member of the Community of Global Growth Companies by the World Economic Forum which is the most prestigious business networking organization.

Different Notes

ACI’s guiding principle in all its operations is to be a ‘responsible corporate citizen’. Thus, Social Responsibility is a top priority for every individual at ACI. Their endeavors toward discharging their social responsibilities have become more focused since their adoption of the principles of the Global Compact.

A dedicated team of medical graduates makes up the Medical Services Department (MSD) in ACI, which carries out CME programs termed ‘Clinical Meetings’ all across Bangladesh. These are essentially non-advertised meets of medical professionals that serve as a training and knowledge-sharing forum, often conducted by experts on the subject. Their partners in development for these programs are doctors, medical associations and/or departments, and various study groups. 

ACI has also undertaken an English Education program in Faridpur, one of the remotest districts of Bangladesh. This provides support to teach English Language to school going children.

ACI has undertaken extensive programs to educate crop farmers all over rural Bangladesh in Good Agricultural Practices. They have a team of agricultural experts working at the field level all across the country, holding a range of technical trainings and field demonstrations

Advancing Possibilities

The Scope of the Communication on Progress is directed towards development of the community through improving the awareness relating to healthcare, proper sanitation, surrounding environment, water supply and so on. In 2012, ACI carried out following activities:

Employment Generation Awareness for Safe Motherhood Observing “World Diabetes Day” Adopt a Village Training program for employee safety Proactive teamwork to prevail constraint Discrimination free workplace Confronting Corruption

Underlined Criteria For Investment

In the separate financial statements of the Company, investment in subsidiaries, associates and joint ventures has been carried at cost as per Bangladesh Accounting Standard 27 Separate Financial Statements. All other investments categorized under 'Investment available for sale' and 'Held-to-maturity' are carried at fair value. In the consolidated financial statements of ACI Limited, following valuation principles have been used: Investments in subsidiaries - Investment in subsidiaries has been accounted for as per Bangladesh Financial Reporting Standard 10 Consolidated Financial Statements. The investment is eliminated in full against the equity of acquire measured at fair value at the date of acquisition as per Bangladesh Financial Reporting Standard 3 Business Combinations. Investments available for sale - These are valued at fair value and the change in fair value of investments available for sale is presented in comprehensive income statement and in statement of financial position. This is as per Bangladesh Financial Reporting Standard 7 Financial Instruments Disclosures, Bangladesh Accounting Standard 32 Financial Instruments: Presentation and Bangladesh Accounting Standard 39 Financial Instruments: Recognition and Measurement.

Associates and joint ventures - Associates are those entities in which ACI Limited has significant influence, but not control, over the financial and operating policies. Joint ventures are those entities over whose activities ACI Limited has joint control, established by contractual agreement and requiring unanimous consent for strategic, financial and operating decisions. Associates and joint ventures are accounted for using the equity method (equity accounted investees). The consolidated financial statements include the ACI Limited's share of the income and expenses of equity accounted invested, after adjustments to align the accounting policies with those of the ACI Limited, from the date that significant influence or joint control commences until the date that significant influence or joint control ceases. This is in consistent with Bangladesh Financial Reporting Standard 11 Joint Arrangements and Bangladesh Financial Reporting Standard 12 Disclosure of Interests in other Entities

Amalgamation - All assets, liabilities, income and expenditure of Apex Leathercraft Limited (transferor company) have been amalgamated with assets, liabilities, income and expenditure of Advanced Chemical Industries Limited (transferee company). Investment held by Advanced Chemical Industries Limited in transferor company is eliminated against the share capital of Apex Leathercraft Limited. Transactions between transferor and transferee companies have also been eliminated.