ADN Telecom signs MoUs with South Korean firms for EVs, smart traffic systems and solar street lights

ADN Telecom Limited has signed Memorandums of Understanding (MoUs) with South Korea's PBS Co Ltd and CND Motors Co Ltd to collaborate on sustainable infrastructure, renewable energy, and smart mobility solutions in Bangladesh. 

According to the company's statement filed on the Dhaka Stock Exchange toay, the agreements cover three key initiatives: assembling and supplying electric three-wheelers, introducing intelligent traffic management and AI-based traffic signal solutions, and implementing solar streetlight projects across the country.

As part of the MoUs, ADN Telecom will begin preliminary steps to set up assembly facilities and drive sustainable technology ventures, particularly in Hi-Tech Parks. Its South Korean partners will provide advanced technology, equipment, and technical expertise, while ADN will focus on facilitating project execution and market development, read the statement.

The collaborations will be executed through joint ventures to be established in Bangladesh, with the objective of ensuring technology transfer, creating local employment, and building long-term operational sustainability.

Despite the announcement, investors have not shown significant interest in the company's share, as its price fell by 1.51% to close at Tk78.50 today.

ADN Telecom incorporated on 22 September 2003. The company was converted to a public limited company in 2012.

The principal activities of the company are providing seamless, secured data and internet connectivity to various grades of customers using fiber, satellite and wireless solutions.

In FY24, the company posted a revenue of Tk142.95 crore and a net profit of Tk14.43 crore. It had paid a 10% cash dividend to its shareholders for that year.

In the first nine months of FY25, ADN telecom reported that its revenue grew by 29% to Tk132.80 crore and the net profit rose by 17% to Tk13.46 crore, compared to the previous year at the same time.

At the end of the July-March period of FY25, its consolidated earnings per share stood at Tk2.09.