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SAM

Published:
2018-06-10 17:42:13 BdST

BSRM to set up subsidiary company in Hong Kong


FT ONLINE

Bangladesh Steel Re-Rolling Mills, a concern of Chittagong-based BSRM Group, has decided to set up a subsidiary company in Hong Kong.

The name of the subsidiary company will be “BSRM (Hong Kong) Limited”.

“This subsidiary company will be engaged in trading of steels products, procurements and inspection of raw materials/spare parts etc. for BSRM Group,” the company said in a disclosure recently.

BSRM Group is a leading steelmaker in Bangladesh.

The steel manufacturing conglomerate started its journey in 1952 and since then it has been pioneering the industry in the country.

Each share of the company, which was listed on the Dhaka bourse in 2015, closed at Tk 102.40 on Thursday at the DSE.

The company disbursed 10 per cent cash and 10 per cent stock dividend for the year ended on June 30, 2017.

Sponsors hold 40.94 per cent stake in the company, while institutions 16.43 per cent, foreign investors 22.31 per cent, and general public the remaining 20.32 per cent as on May 31, 2018, according to DSE data.

The company’s paid-up capital is Tk 2.14 billion while authorised capital is Tk 5.0 billion and total number of securities is 214.60 million.

In nine months from July 2017-March 2018, the company’s total turnover stood at Tk 24.54 billion (un-audited).

Profit for the period stood at Tk 1.35 billion in nine months for the period ended on March 31, 2018.

The company’s earnings per share (EPS) stood at Tk 3.78 for January-March 2018 quarter as against Tk 1.56 for January-March 2017.

In nine months from July 2017-March 2018, EPS was Tk 6.31 as against Tk 3.38 for July 2016-March 2017.

The net operating cash flow per share (NOCFPS) was minus Tk 27.17 for July 2017-March 2018 as against minus Tk 12.32 for July 2016-March 2017.

The net asset value (NAV) per share was Tk 57.04 as on March 31, 2018 and Tk 55.75 as on June 30, 2017.

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