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 Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
