MJL Bangladesh, EC Holdings to invest Tk214cr in Gulshan property
Investment of MJL, EC Holdings will be on 50:50 basis
With a view to future business expansion, MJL Bangladesh, a listed firm in the fuel and power sector, has decided to jointly make an investment of Tk214.20 crore in a commercial property located in Gulshan, Dhaka.
The investment decision, under which MJL Bangladesh and EC Holdings Limited (ECHL) will jointly invest in the commercial property, was approved at MJL's board of directors meeting held on 30 September.
The commercial property is located at block- SW(C) and Plot-3, as per price sensitive information published on MJL Bangladesh's website.
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The PSI said total investment towards acquisition of the commercial property is Tk214.20 crore, and investment of MJL Bangladesh & EC Holdings will be on a 50:50 basis.
"MJL Bangladesh is making this investment for its future business expansion," the PSI reads.
A month ago, Omera Petroleum, a subsidiary of MJL Bangladesh announced that it had entered into an agreement to acquire 99.995% shares of Premier LP Gas – a leading LPG operator in the country under the brand name Totalgaz Bangladesh – for Tk227 crore.
At the beginning of 2025, MJL Bangladesh announced that its board approved the purchase of 2.77 crore shares of Omera Petroleum Dutch development bank FMO to strengthen its holdings in the company.
It unveiled its plan to acquire the shares at a rate of Tk21.80 per share. This means the publicly listed MJL will invest Tk60.49 crore to acquire FMO's stake. The Dutch lender had originally invested in Omera at Tk18 per share in 2015, according to a previous report of TBS.
MJL Bangladesh, a joint venture between Jamuna Oil Company and EC Securities Limited (ECSL), is the leading downstream petroleum company in Bangladesh.
According to its website, as the exclusive ExxonMobil partner, it specializes in blending and marketing top-quality lubricants for industrial, automotive, and marine applications.
During the first nine-month of 2024-25 from July to March period, MJL Bangladesh reported that its consolidated revenue surged by 22% to Tk3,495.92 crore, and its net profit surged by 17.65% to TK258.73 crore over the same time of the previous fiscal year.
During the July to September of FY24, its revenue was Tk2,869.59 crore and net profit Tk219.77 crore, its un-audited report showed.
In FY24, it made a profit of Tk276.63 crore and paid a 52% cash dividend to its shareholders.
On 30 September, MJL Bangladesh's shares price closed at Tk96.70 each, which is slightly lower by 0.10% over the previous trading session.
The total market capitalization of MJL Bangladesh stands at Tk3,066.15 crore.
