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Given:

Rs. '000
Market treasury bills 7,772,182
Pakistan Investment Bonds 1,988,912
Government bonds 17,068
Sukook Bonds 100,000
Listed ordinary shares 291,172
Unlisted ordinary shares 25,964
Listed TFCs 258,332
Unlisted TFCs 395,086
Investments in subsidiaries 26,400
Investments in associates 517,293
Certificates of investments Nil
Deficit on revaluation of
- held-for-trading securities 1,320
- available-for-sale 12,872
Securities in associates 115,875

Particulars of Investments in companies/funds: Rs. '000


AKD Index Tracker Fund 16,087
PICIC Growth Fund 61,846
Adamjee Insurance 1,500
EFU Insurance 1,506
National Bank of Pakistan 60,828
Allied Bank Limited 3,542
Bank of Punjab 1,244
MCB Bank Limited 1,882
Soneri Bank Limited 11,909
Standard Chartered Bank Limited 5,454
United Bank Limited 2,937
Bank AlFalah Limited 6,000
Bank AlHabib Limited 979
Lucky Cement Limited 30,318
DGK Cement Limited (Preference Shares) 1,532
Maple Leaf Cement Factory Limited 2,796
Pakistan State Oil 7,584
Pakistan Petroleum Limited 5,794
Oil and Gas Development Company Limited 37,652
Pakistan Tele-communication Company Limited 12,099
ICI Pakistan Limited 17,683
Wajid (Private) Limited 25,964

Required:
(a)Show how the investments would be shown in the balance sheet as on December 31, 2008;
(b)Notes to the financial statement, showing investments by segments and the particulars of listed
companies and unlisted companies shares in accordance with the relevant laws.

Assume that all investments in shares are ordinary shares, except where indicated and are of
fully paid-up and fully called up shares @ Rs. 10 each.

Solution:
Balance Sheet (extracts)
As on December 31, 2008
Notes Rs. '000
ASSETS
Investments 9 11,362,340

Notes to Financial Statements


For the year ended on December 31, 2008
Notes Rs. '000
9 Investments
9.2 Investments by Segments
Federal Government Securities:
Market treasury bills 9.3 7,772,182
Pakistan Investment Bonds 9.4 1,988,912
Government Bonds 9.5 17,068
Sukook Bonds 9.6 100,000
9,878,162
Fully Paid-Up Ordinary Shares in:
Listed companies 9.8 291,172
Unlisted companies 9.9 25,964
317,136
Term Finance Certificates (TFCs), Debentures, Bonds and
Participation Term Certificates (PTCs):
Listed TFCs 358,332
Unlisted TFCs 395,086
753,416
Investments in subsidiaries 26,400
Investments in associates 517,293
Certificates of investments -
Total investment at cost 11,492,407
Deficit on revaluation of:
- held-for-trading securities (1,320)
- available-for-sale securities (12,872)
- investment in associates (115,875)
Total investments at market value 11,362,340
9.3 Market treasury bills are for the periods of 6 months and one year. The effective rates of profit
range between ___% to ___% (2007: ___% to ___%) per annum with maturities up to ______,
20__.
9.4 Pakistan Investment Bonds are for the periods of 3, 5, 10 and 15 years. The rates of profit range
between ___% to ___% (2007: ___% to ___%) per annum with maturities from ______, 20__ to
_______, 20__.
9.5 Government Bonds are issued by the Federal Government to <state the objectives> at
the rate of ___% (2007: ___%) per annum redeemable on maturity in ______, 20__.
9.6 Sukook Bonds are issued by _______________ for a period of ____ years. The rates of profit
range between ___% to ___% (2007: ___% to ___%) per annum.
9.7 The market value of securities classified as 'held-for-maturity' amounted to Rs. ______ (2007:
Rs. _______) as at December 31, 2008.
9.8 Investments in Listed Companies/Funds
The paid-up value of these shares/certificates/units is Rs. 10 each except where stated.
No. of Shares Rs. '000
MUTUAL FUNDS:
AKD Index Tracker Fund 16,087
PICIC Growth Fund 61,846
INSURANCE:
Adamjee Insurance 1,500
EFU Insurance 1,506
INVESTMENT COMPANIES AND BANKS:
National Bank of Pakistan 60,828
Allied Bank Limited 3,542
Bank of Punjab 1,244
MCB Bank Limited 1,882
Soneri Bank Limited 11,909
Standard Chartered Bank Limited 5,454
United Bank Limited 2,937
Bank AlFalah Limited 6,000
Bank AlHabib Limited 979
CEMENT:
Lucky Cement Limited 30,318
DGK Cement Limited (Preference Shares) 1,532
Maple Leaf Cement Factory Limited 2,796
FUEL, ENERGY AND OIL AND GAS:
Pakistan State Oil 7,584
Pakistan Petroleum Limited 5,794
Oil and Gas Development Company Limited 37,652
TECHNOLOGY AND COMMUNICATION:
Pakistan Tele-communication Company Limited 12,099
CHEMICALS AND FERTILISERS:
ICI Pakistan Limited 17,683
291,172
9.9 Investments in Unlisted Companies
No. of Shares Rs. '000
Wajid (Private) Limited 25,964
25,964