GQ Ball Pen under BSEC scanner | The Business Standard
Skip to main content
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
The Business Standard

Wednesday
July 09, 2025

Sign In
Subscribe
  • Latest
  • Economy
    • Banking
    • Stocks
    • Industry
    • Analysis
    • Bazaar
    • RMG
    • Corporates
    • Aviation
  • Videos
    • TBS Today
    • TBS Stories
    • TBS World
    • News of the day
    • TBS Programs
    • Podcast
    • Editor's Pick
  • World+Biz
  • Features
    • Panorama
    • The Big Picture
    • Pursuit
    • Habitat
    • Thoughts
    • Splash
    • Mode
    • Tech
    • Explorer
    • Brands
    • In Focus
    • Book Review
    • Earth
    • Food
    • Luxury
    • Wheels
  • Subscribe
    • Epaper
    • GOVT. Ad
  • More
    • Sports
    • TBS Graduates
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • Gallery
    • Long Read
    • Interviews
    • Offbeat
    • Magazine
    • Climate Change
    • Health
    • Cartoons
  • বাংলা
WEDNESDAY, JULY 09, 2025
GQ Ball Pen under BSEC scanner

Stocks

Salah Uddin Mahmud
28 November, 2024, 12:20 am
Last modified: 28 November, 2024, 12:45 am

Related News

  • 3 Bangladeshi human trafficking survivors return from Libya
  • Business leaders stress Bangladesh-Thailand FTA to unlock regional trade potential
  • China-Bangladesh-Pakistan co-op open and transparent, not targeting any third country: Ambassador Yao
  • Bangladesh, US begin second round of tariff talks in Washington today
  • Trump's 35% tariff zaps Bangladesh's $8.4 billion export lifeline

GQ Ball Pen under BSEC scanner

The share price of the company closed at Tk130.90 on the Dhaka Stock Exchange on Wednesday

Salah Uddin Mahmud
28 November, 2024, 12:20 am
Last modified: 28 November, 2024, 12:45 am
Infographic: TBS
Infographic: TBS

The Bangladesh Securities and Exchange Commission (BSEC) has formed a three-member inquiry committee to investigate GQ Ball Pen's financial statements and investments of its sister concerns to ensure compliance, transparency, and accountability.

The committee was asked to submit a detailed report to the commission within 60 days, according to an office order, dated 11 November.
The committee consists of BSEC officials, including Additional Director Md Faruq Hossain, Assistant Director Md Amirul Islam, and Assistant Director Binoy Das.

Once a popular brand of ballpoint pens, Econo, is now disappearing from the market as its owning company GQ Ball Pen has failed to modernise the product for the highly competitive environment.

Starting its business in 1981, the company has been witnessing sales decline and incurring losses over the past decade. Its close competitor Matador Ballpoint Pen, which started business in 1998, dominates the market at present.

The Business Standard Google News Keep updated, follow The Business Standard's Google news channel

The share price of the company closed at Tk130.90 on the Dhaka Stock Exchange on Wednesday.

According to the BSEC order, the inquiry committee will thoroughly investigate GQ Ball Pen's financial statements as of the end of June 2023. This includes a detailed examination of the company's assets, liabilities, equity, profits, and cash flows.

Additionally, the committee will scrutinise non-performing investments by the company's sister concerns, amounting to Tk9.56 crore, as well as Tk8.35 crore held in the tax holiday reserve.

A senior official of the company, on condition of anonymity, told TBS that they had received a letter regarding the investigation. The official said that the company is prepared to cooperate fully with the inquiry committee and will provide all necessary documents as requested.

The official added that the company is currently operating at around 30% to 40% capacity due to ongoing BMRE (Balancing, Modernisation, Rehabilitation, and Expansion) activities at its existing factory.

In May of this year, the company announced its temporary halt in production to modernise its factory, aiming to strengthen its position in the highly competitive market. The production suspension, announced for 12 months, began on 30 June.

According to a disclosure on the Dhaka Stock Exchange, the company has been facing operational losses since 2014. To address these losses and improve product quality, the company believes it is crucial to modernise its factory. This decision was driven by the declining performance of its "Econo" brand, as its parent company failed to modernize the product to stay competitive in the market.

The GQ Ball Pen official said that most of the machinery needed for the factory modernisation was supposed to be imported from India. However, following the fall of the Awami League government on 5 August, the company management has been unable to secure visas from India, causing delays in the machinery import process.

In GQ Ball Pen's 2019-20 financial report, its independent auditor Mahfel Huq & Co. said the company's financial condition indicates that there is significant doubt about its ability to continue the business.

In the July-September quarter of 2024, the revenue of the company stood at Tk59 lakhs, which was Tk1.87 crore in the same period of the previous year. During this quarter, its net loss stood at Tk59 lakhs, which was Tk98 lakhs in the same period of the previous year.

Its per-share loss stood at Tk.66, which was the loss of Tk1.09 one year ago.

In FY23, the company recommended a 2.5% cash dividend for their shareholders.

In May 2023, GQ Ball Pen sold off the unused land located at Chattogram to repay a portion of its loan taken from Southeast Bank.
GQ Ball Pen is one of the oldest listed companies in the capital market. It was listed on the stock exchanges in 1986.

Although the company incurred losses for years, it regularly paid cash dividends to shareholders from retained earnings.

According to industry insiders, one crore students buy one crore ballpoints every four days. Numerous offices also buy ballpen's regularly. However, the total market size is not available, as the business is mainly dominated by imported pens.

Among the local companies, Pran-RFL, Janani, and Kumu produce 25 lakh ball pens every day. Meghna Group entered the ballpoint pen business in 2019 and is selling the products under the "Fresh" brand.

Olympic Industries and Rose Heaven have closed ballpoint pen production as the market has become highly competitive due to imported products.

Top News

GQ Ball Pen / Bangladesh / BSEC

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Govt to hold press briefing on developments regarding national election tonight
    Govt to hold press briefing on developments regarding national election tonight
  • Graphics: TBS
    Central bank makes startup loans available at 4% interest for Bangladeshis aged 21
  • Chinese Ambassador to Bangladesh Yao Wen speaks at a seminar at a hotel in the capital on 9 July 2025. Photo: TBS
    China-Bangladesh-Pakistan co-op open and transparent, not targeting any third country: Ambassador Yao

MOST VIEWED

  • None saw it coming: What went wrong in Bangladesh’s tariff negotiation with US 
    None saw it coming: What went wrong in Bangladesh’s tariff negotiation with US 
  • File Photo: Rajib Dhar/TBS
    Bangladesh faces economic impact as US introduces 35% tariff on exports
  • Representational image. Photo: Collected
    Bangladesh reserves above $24b even after making $2b ACU payment 
  • Electric buses for capital: Tk2,500cr to be spent in 2 years
    Electric buses for capital: Tk2,500cr to be spent in 2 years
  • Representational image. Photo: TBS
    35% US tariff to be disastrous for Bangladesh's exports, say economists and exporters
  • Clashes took place between police and protesters in Sylhet on 2 August. Photo: TBS
    Hasina authorised deadly crackdown on protesters during 2024 July uprising, BBC verifies leaked audio

Related News

  • 3 Bangladeshi human trafficking survivors return from Libya
  • Business leaders stress Bangladesh-Thailand FTA to unlock regional trade potential
  • China-Bangladesh-Pakistan co-op open and transparent, not targeting any third country: Ambassador Yao
  • Bangladesh, US begin second round of tariff talks in Washington today
  • Trump's 35% tariff zaps Bangladesh's $8.4 billion export lifeline

Features

Dr Mostafa Abid Khan. Sketch: TBS

Actual impact will depend on how US retailers respond: Mostafa Abid Khan

1d | Economy
Thousands gather to form Bangla Blockade in mass show of support. Photo: TBS

Rebranding rebellion: Why ‘Bangla Blockade’ struck a chord

1d | Panorama
The Mitsubishi Xpander is built with families in mind, ready to handle the daily carpool, grocery runs, weekend getaways, and everything in between. PHOTO: Akif Hamid

Now made-in-Bangladesh: 2025 Mitsubishi Xpander

2d | Wheels
Students of different institutions protest demanding the reinstatement of the 2018 circular cancelling quotas in recruitment in government jobs. Photo: Mehedi Hasan

5 July 2024: Students announce class boycott amid growing protests

4d | Panorama

More Videos from TBS

News of The Day, 09 JULY 2025

News of The Day, 09 JULY 2025

Now | TBS News of the day
Hasina ordered the use of lethal force in July-August: BBC

Hasina ordered the use of lethal force in July-August: BBC

33m | TBS Stories
How a Decline in Exports to US Could Hit Bangladesh’s Economy

How a Decline in Exports to US Could Hit Bangladesh’s Economy

58m | TBS Economy
What was discussed in the MBS-Araghchi meeting?

What was discussed in the MBS-Araghchi meeting?

3h | TBS World
EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Advertisement
  • Privacy Policy
  • Comment Policy
Copyright © 2025
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net