Meeting Minutes

[Sugata Talukder]

Directors,

I am sorry for being late circulation of meeting minutes of the Meeting held on August 7, 2015 at Jamuna Future Park. I have been so busy with on going training and WB mission. Please find attached and appended below the meeting minutes for your information:

Meeting Minutes

                                         Joom International Limited, Jamuna Future Park

Date: August 7, 2015

Meeting Minutes of the Periodic Meeting held on Friday, August 7, 2015 at Jamuna Future Park. The participants are Directors of Joom International Limited: Mr. Kanchan Khisa, Mr. Subrata Talukder, Dr. Kowshik Chakma, Mr. Shubhashish Chakma and Mr. Sugata Talukder and discuss the following agendum:

(i) Concerns and sales of Bata Shop and Joom Super Shop

(ii) Financial and Accounting software with computer equipment; and

(iii) Future profitability and sustainability of these two operations

 Concerns and Sales of Bata Shop and Joom Super Shop: All members participated in the discussion of how we can increase sales volume thus sales revenue from these two shops. Most participants opined that they are quite happy with the way of Bata operation has been going on, but they are quite concerned about the operations of Joom Super Shop. Some participants were confused about the figure of profit derivated from sales proceeds especially for Joom Super shop that we receive from Sujan Chakma in the beginning of every month. After tread bear discussion of this issue by all participants, it has been deduced that Mr. Sujan Chakma has been providing profitability index figure correctly by rightly calculating profit amount. All of Member Directors of the Company are very much concerned about the inventory of both shops because proper accounting system for Inventory is not in place since the initiation of both operations. We discussed at length before and today and it was decided before that Mr. Sujan Chakma will be responsible for maintaining inventories for both shops properly in a general accounting terms. In lieu of this, we agreed to increase his salary which was effective from June 2015. During the meeting, we came to know from telephonic conversation with Sujan that he has already started maintaining inventories for both shops.

Financial and Accounting Software with computer equipment: Kanchan Khisa suggested to look into an opportunity of purchasing financial and accounting software with computer equipment. In fact, Kanchan and Sugata visited one of the Vendor who supplies this kind of software with equipment few months back and a demonstration of various software available to that company was shown. The cost of full package with after sale services plus equipment seems to be a bit high and total cost for this investment is of range between TK 250,000 to TK 300,000 for the software, maintenance and after sale service and two laptop computers. In order to function properly, the system needs un-interrupted power supply. All Directors agreed the idea of having this kind of system in place at both shops and feel the essence of having this software to reduce the error margin significantly and will get reliable inventory database but few of them cautioned this idea of having this software at this point, until and unless we have a sound health of our investment portfolio. Once we can ensure this sound health of investment, we will definitely go for this software.

Future profitability and sustainability of these two operations: We discussed extensively the viability and profitability of these two shops especially the Joom Super Shop. Some participants mentioned that we are charging the price of some items at Joom super Shop much above the market price, that’s may be one of the reasons why we were not able to attract many customers. As we do not have a good comparative advantage in terms of having both shops located quite far away from the main town center, just to increase sales revenue, all Directors agreed to fix the price of all items at least equal to market price in Khagrachari and even one member suggested to reduce the prices of some necessity items lower than market price just to increase the sales base. Despite the fact of having lower profit margin from the sales of Joom Super Shop, in the medium and long run, we anticipate that the shop will be viable and benefited greatly by inducing many consumers in this way. All participants strongly agreed to increase the inventory sales item for Joom Super Shop so that customers get most of things that he needs. We also discussed and agreed to replace the stationary section to toys because the profit margin and sales volumes of Toys are much higher than stationary item. So from now on, we will not purchase any more the stationary items rather focus on purchasing Toys item.   

Decisions taken:

1. Mr. Sujan is responsible for maintaining inventory accounting records properly for both shops;

2. Financial and Accounting software including equipment will not be purchased for the time being, however it will be seriously considered once the financial health of our investment is good;

3. At Joom Super Shop, the stationary section will be replaced by Toys items because sales and profit margin are much higher;

4. In order to increase sales volume, we need to increase sales items at both shops;

5. Directors will deposit TK 50,000/- each to create a fund to satisfy decision # (iv)   

Best regards,

Sugata

____________________________________________________

Mr. Sugata Talukder I The World Bank I Dhaka, Bangladesh

Ph + 880 2 8159001 - 28 Ext 4322 I stal...@worldbank.org

 

[Kanchan Khisa]

Dear Sugata bhai,

Thank you very much for nicely picking up all the points in details from our discussion in the meeting at Jamuna Future Park. 

We need to move ahead now with implementing the decisions for expanding our business avenues.

Regards

Kanchan

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[Sugata Talukder]

Kanchan bhai and others,

It would be good for the company if we act quickly to replace stationary items with Toys and increase the sale items in the Joom super shop. Most of you are aware that peak season usually starts after the rainy season starting from Sep/Oct to April/May and EID-UL-AZHA is also knocking the door. So we need to take a careful consideration for implementing these activities. Looking forward to hear from other members. Thanks - Sugata 

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[Shubhashis Chakma]

Thanks a lot Sugata bhai for your mail with meeting's minutes. Pls accept my sincere apologies for delayed response. Thanks also to you all for the family lunch hosted by the company.

With best rgds,

Shubhashis

On Tue, Aug 11, 2015 at 8:01 PM, Sugata Talukder <sug...@gmail.com> wrote:

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[sugata talukder]

Shubhashish bhai, you are most welcome - Sugata

Sent from Samsung tablet

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[Subrata Talukder]

Dear all This is to inform you that our bata staff Mr. Ronel Chakma was admitted in khagrachari hospitl yesterday. He was on leave. He notified our bata manager Sujan that he got an NGO job and he will not continue with bata from next month. This is for your information  Best regards subrata Sent from Yahoo Mail on Samsung Galaxy Note 4 From:"Shubhashis Chakma" <aes.s...@gmail.com> Date:Thu, Aug 20, 2015 at 19:17

Subject:Re: JIL Message Meeting Minutes

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[Subrata Talukder]

Dear all,

Hope you all are fine.

With reference to our meeting minutes dated 7 August, 2015 and after telephone conversation with you all, the final decision is each share holder(Director) of Joom International Ltd. will deposit  fifty thousand taka(TK. 50000/=) into our company account at Trust Bank Limited within 29 October, 2015. Our chairman - Mr. Banga Ratna Chakma agreed to deposit said amount within 20 December, 2015. Please deposit said money within the deadline. Thanks.

Best regards

Subrata

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From: 'Subrata Talukder' via JIL 2010 <jil-...@googlegroups.com>
To: "jil-2010@googlegroups com" <jil-...@googlegroups.com>; "jil-2010@googlegroups com" <jil-...@googlegroups.com>
Sent: Tuesday, September 22, 2015 10:20 AM
Subject: JIL Message Information about our bata staff Mr. Ronel Chakma

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[Shubhashis Chakma]

Dear all,

 

Thank you Babudagi for your mail. I do agree with the deadline for our depositing amount set out in your mail.

 

By the way, this morning I was just trying to browse JIL Trust Bank account’s statement through internet banking by using previously provided password, however failed to do so probably due to already being expired of the set password. The bank authority rather instructed to reset a new password and ultimately I called Babudagi regarding resetting a new password and with his consent, a new password has been created that has also been given below. I hope Babudagi would change the password in two months time (as decided earlier in 2012) and circulate the same to us.

 

User code: 0063000317 & Password: Jil2012six

 

In the password, all characters are in lower cases except the J which is in capital.

 

In addition to that while I was browsing the statement, I was just thinking if all the sales and expenditures can be done through banking transactions. So, may I propose to you all and just wonder whether along with deposited sale figures, monthly expenditures (staff salaries, bonus, overtime, shop rents, current bills etc) can also be withdrawn in the first week of the month by one check so that we can see total monthly sale and expenditure figures from the statement other than calling Mr. Sujan or sighting on mobile SMS. It can be done in two separate operations, one for Bata at Trust Bank and for JSS at Pubali Bank. In doing that we may require two additional cheques per month of each bank account.

 

Thank you so much once again for your hard work.

 

With best regards,

 

Shubhashis   

[Subrata Talukder]

Dear All,

As per our decision over the phone and e-mail dated 21/10/2015, please be informed that I have transferred Tk 50000/= into our Trust Bank account. This is just for your information.

//Subrata//

----- Forwarded Message -----
From: "iBanking....@sc.com" <iBanking....@sc.com>
To: subr...@yahoo.com
Sent: Monday, October 26, 2015 11:09 AM
Subject: Domestic Transfer Submitted

Dear M/s MINERVA INTERNATIONAL, (RelNo :113504100)

Your Request for Domestic Transfer has been received and submitted for processing.

Following are the details of the transfer.

Transfer To	00630210000546
Payment Reference Number	16930690342789361
Payment Reference	Domestic Transfer Online Banking
Payment Amount	BDT 50000
Beneficiary Branch Routing Number	240460071
Transfer From	01113504101
To Currency	BDT
Beneficiary Bank Name	TRUST BANK LTD.
From Currency	BDT
Account Type	Current Account
Beneficary Name	Joom International Ltd
Beneficary Branch Name	KHAGRACHARI(007)

Cut off Time for a Domestic transfer is 12:30 pm, Monday to Thursday and Sunday. Any transfer submitted after cut off time or on Friday/Saturday/Public Holiday will be processed next working day.

Please call Phone Banking on 16233(From Mobile Phone) or +88-02-8957272 or +88-02-8332272 if you need any further assistance.
Thank you for using Standard Chartered Online Banking.
This email and any attachments are confidential and may also be privileged. If you are not the intended recipient, please delete all copies and notify the sender immediately. You may wish to refer to the incorporation details of Standard Chartered PLC, Standard Chartered Bank and their subsidiaries at https://www.sc.com/en/incorporation-details.html

Best regards

Subrata

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From: Subrata Talukder <subr...@yahoo.com>
To: "jil-...@googlegroups.com" <jil-...@googlegroups.com>
Sent: Wednesday, October 21, 2015 7:12 PM
Subject: Tk 50000 to be deposited in our Trust Bank account!!!

[Kanchan Khisa]

Dear all,

I tried to log on with the new password that Shubhashis bhais has sent today. But each time I tried to log on, I was getting this error message "Your iBanking access is blocked".

Can anyone please advise on this?

Regards

Kanchan

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[Shubhashis Chakma]

Thanks Kanchan bhai for your mail. After receiving your mail, I also tried but failed and the same notice has been served by the banking authority. I believe Kanchan bhai, as signatories, either you or Babudagi should contact the bank ASAP and fix the problem.

 

Thanks & rgds,

 

Shubhashis

 

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[Kanchan Khisa]

Thanks Shubhashis bhai.

I have called the Trust Bank Hotline number, and they suggested to try the 'Forget Password' option from the log on screen.

I have tried to use this, but it does not recognize my email address. Perhaps Subrata da's email was registered with the system.

I have talked to Subrata da, and he will try to use this option today.

Regards

Kanchan

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[Shubhashis Chakma]

Many thanks Kanchan bhai for your mail and effort. Hope Babudagi could fix the problem by contacting the bank official.

 

I believe with the deposited funds, some additional items need to be purchased and I just wonder whether new items have already been selected and also not sure about the availability of any of our directors for purchasing the items this time. In addition to that after purchasing the products, I also just wonder whether we are going to impose some strategies to attract more customers. Since we have some money in our hands now, let’s think something that we can do better for our business as we are increasing our individual investments as well.

 

Thanks once again bhai and nest rgds,

 

Shubhashis

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[Subrata Talukder]

Dear all,

When you log in for Joom International Ltd account at Trust bank , please use below information:

Login ID: subr...@yahoo.com

Password:Jil2015

Please correctly put password. Otherwise it will be locked again.

Best regards

Subrata

---

From: Shubhashis Chakma <aes.s...@gmail.com>
To: jil-...@googlegroups.com
Sent: Wednesday, November 4, 2015 3:57 PM
Subject: Re: JIL Message Tk 50000 to be deposited in our Trust Bank account!!!

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[Kanchan Khisa]

Hi Subrata da,

Thank you for sharing the new login credentials, and your advice for more carefully using the login details in order to prevent the accidental blockage.

I have seen that all of our fund transfers have been credited to the JIL Bank Account. To be more precise, the following funds have been transferred:

Transfer details	Amount Tk	Note
27/10/2015  On-Line Transfer Trn EFTN SCB ,Trace No: 000297	50,000	By Subrata
29/10/2015  On-Line Cash Trn ,Trace No: 000386	50,000	By Shubhashis
29/10/2015  On-Line Cash Trn ,Trace No: 000387	50,000	By Kowshik
02/11/2015  On-Line Transfer Trn EFTN, SCB, I BANKING ,Trace No: 000706	50,000	By Sugata
02/11/2015  On-Line Transfer Trn EFTN, SCB, I BANKING ,Trace No: 000708	50,000	By KanchanBottom of Form
Total	250,000

I have also attached the statement from 1 Jan to 5 Nov 2015 for everyone's ready reference.

Regards

Kanchan

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