Stocks
Committee Formed for Shyampur Sugar’s Production Renaissance
In an endeavor to revive operations, Shyampur Sugar Mill has taken the initiative to resume activities, which was listed in the stock market. A committee has been formed to verify the feasibility of restarting production, with the top eight officials of the Bangladesh Sugar and Food Industries Corporation (BSFIC) appointed to the committee, led by the Director of BSFIC’s Production and Engineering Department.
Previously, the Chief of Personnel, Shahrina Tanaz, had received a letter dated November 9, urging her to provide insights into the matter. The letter specified that a self-contained report should be submitted to the Chairman of Bangladesh Sugar and Food Industries Corporation within the next ten working days.
It has been known that Shyampur Sugar Mill faced financial setbacks of approximately Tk 363 crore 29 lakh 9 thousand taka during the last 10 threshing seasons year. Consequently, the mill halted operations as per the ministry’s directive. The sudden shutdown left a workforce of around a thousand jobless.
The prolonged shutdown has also led to the deterioration of machinery used in sugar processing, affecting the transportation tractors. Despite administrative tasks continuing, the presence of staff has been minimal.
Abu Sufian, General Secretary of Shyampur Sugar Mill Employees Union, said that at least 30,000 people, including 1,000 workers, were making a living around this mill. However the sudden closure of the sugar mill left the seasonal workers jobless for the whole year. We are glad to hear that another letter has come to reopen the mill.
শ্যামপুর সুগারমিলের ব্যবস্থাপনা পরিচালক মাসুদ সাদিক বলেন, আমি এ-সংক্রান্ত একটি চিঠি পেয়েছি, যোগাযোগও করেছি, তারা দ্রুত মাঠ পরিদর্শনে আসবেন। কীভাবে কী করলে লোকসান হবে না, লাভজনক অবস্থায় ফিরে নেওয়া যাবে। এ জন্য কী কী পরিকল্পনা নেওয়া যায়, সে বিষয়ে কথা বলব। এরপর আরেকটি চিঠি আসবে যেখানে মিল চালুর নির্ধারিত তারিখ থাকবে।
Managing Director of Shyampur Sugar Mill, Masood Sadiq said, I have received a letter regarding this, I have also contacted them, they will come to visit the field soon. How and what measures can be taken to prevent losses and restore the situation to a profitable state? I will talk about what plans can be taken for this. Then another letter will come with the due date of the mill launch.
Dhaka Stock Exchange DSE, Bourse on the first working day of the week, December 3, ended with price Index hikes & turnover drops. This information is known from DSE sources.
349 crore 1 lakh shares were traded on this day. 39 crore 47 lakh less trading was done in DSE today compared to the previous workday, 30 November, Shares worth Tk 388 crores 69 lakh shares were traded last time, Thursday.
The benchmark DSEX added 8.91 points or 6,231 The Shariah-based index DSES gained 2.12 points or 1,355, and the blue-chip index DS30 increased by 0.15 points or 2,108.
Of the issues traded, 93 advanced, 48 declined and 181 remained unchanged.
Khulna Printing & PAckaging Limited ranked top gainer on DSE, the share price increased by Tk 2.70 paisa or 10.00 percent. On this day, the share was last traded at Tk 29.70 paisa.
Zeal Bangla Sugar Mills Limited ranked top loser on the DSE, the share price dropped by Tk 8.40 paisa or 5.53 percent. On this day, the share was last traded at Tk 143.40 paisa.
DSE topped on trade is Emerald Oil Indutries Limited 18 crore 20 lakh takas of shares of the company have been traded.
A total of 46 companies’ shares were traded in the Block on the Dhaka Stock Exchange, 34 lakh 27 thousand 167 shares of the companies were traded. The financial value of which is 16 crore 70 lakh taka.
One of the listed companies, GSP Finance Company (Bangladesh) Limited, discloses its financial reports for the first quarter, (January-March 23). This source is known from DSE.
Q1 Financials: The company’s consolidated earnings per share (EPS) was loss of Tk 1.17 paisa in Q1 of the current financial year. Consolidated EPS was Tk 0.31 paisa during the same period last year. As of March 31, 2023, the consolidated net asset value (NAVPS) was Tk 26.61 paisa.
Q2 Financials: the company’s consolidated earnings per share (EPS) was loss of Tk 1.47 paisa in Q2 of the current financial year (April-June 23). Consolidated EPS Tk 0.14 paisa during the same period last year. As of June 30, 2023, the consolidated net asset value (NAVPS) was of Tk 24.82 paisa
One of the Listed companies, Coppertech Industries Limited has recommended 22% Cash Dividend (including Sponsors and Directors) for the year ended June 30, 2023.
In terms of financial performance, The Company has also reported EPS of Tk. 0.51 for the year ended June 30, 2023. The Company has also reported NAV per share of Tk 13.19 paisa for the year ended June 30, 2023.
The Annual General Meeting (AGM) of the company will be held on January 25, through the digital platform. The record date for this has been fixed at December 21.
Q1 Financials: The company’s earnings per share EPS was Tk. 0.11 for July-September 2023 as against EPS of Tk 0.17 for July-September 2022. As of September 30, 2023, net asset value (NAVPS) was Tk 13.30 paisa.
