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FRIDAY, JULY 25, 2025
BSEC approves inspecting 10 struggling firms' business status

Stocks

TBS Report
07 April, 2025, 09:20 pm
Last modified: 07 April, 2025, 09:19 pm

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BSEC approves inspecting 10 struggling firms' business status

TBS Report
07 April, 2025, 09:20 pm
Last modified: 07 April, 2025, 09:19 pm
Logo of BSEC/File photo
Logo of BSEC/File photo

The Bangladesh Securities and Exchange Commission (BSEC) has given approval to the Dhaka Stock Exchange (DSE) to inspect ten companies listed on-site as financially struggling.

These inspections are intended to assess the true condition and business status of these companies. 

The ten companies selected for inspection are: Associated Oxygen Limited, Far Chemical Industries Limited, Krishibid Seed Limited, Nahee Aluminium Composite Panel PLC, Ring Shine Textiles Limited, Khan Brothers PP Woven Bag Industries Limited, Beach Hatchery Limited, Global Heavy Chemicals Limited, Indo-Bangla Pharmaceuticals Limited, and Fu-Wang Ceramic Limited.

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The BSEC approved this inspection after reviewing DSE's application, with a focus on protecting the interests of general investors. The inspection will involve visiting the head offices, factories, and other relevant sites of the companies to assess their current status.

Most of these companies are in poor financial condition, with some failing to declare dividends or declaring only minimal dividends for the fiscal year 2024-25. Notably, Associated Oxygen, Ring Shine Textiles, and Global Heavy Chemicals did not declare any dividends, while others declared very small amounts.

The DSE has raised concerns about several companies not complying with securities regulations. Issues include halted production, failure to distribute dividends on time, irregular Annual General Meetings (AGMs), and lack of disclosure of important information to investors. Previous visits by DSE found that some factories had shut down.

Market insiders believe that inspecting and disclosing the true situation of these companies will help investors make more informed decisions, as the share prices of such companies can be volatile despite the absence of substantial updates or material information. This transparency is expected to protect general investors from potential losses.

 

BSEC / DSE / firms

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