German company to relocate factory from Poland to Bangladesh
Business Desk
An enterprise of cent percent German ownership, M/S United Bridal Factory Limited, is investing about US$12 million and relocating one of their successful factories from Poland to Bangladesh.
To this end, Bangladesh Export Processing Zones Authority (BEPZA) and M/S United Bridal Limited on Wednesday inked a land lease agreement at Bangladesh Embassy in Berlin, said a press release here.
Ambassador of Bangladesh in Berlin Md Mosharraf Hossain, Chairman of United Bridal Factory Limited Bartosz Wodecki, Managing Director of the United Bridal Factory Limited Adrian Gaszaka, BEPZA Member (Investment Promotion) Md Mahmudul Hossain Khan and other BEPZA senior officials attended the function.
During the function, Md Mosharraf Hossain congratulated the investors and assured them of his all-out support.
He mentioned that he recently talked with the German Ambassador in Dhaka who is also very pleased with this investment. Commercial Counsellor of the Bangladesh Embassy in Berlin Md Saiful Islam moderated the function.
Recently, BEPZA has permitted MS UBF Bridal Limited for setting up a garments manufacturing factory in Adamjee EPZ. Due to current corona pandemic, the investor is unable to travel to Bangladesh to sign the necessary paper works, therefore, innovative arrangements have been made and the embassy is facilitating the signing ceremony so that this great investment project can go ahead without hindrance.
The company will not only produce high-end bridal wear but also bridal accessories making a total 27 different bridal items for the European and also growing international markets.
Along with the creation of further employment sector, there will be also transfer of technical knowledge and skills.
Business Desk
An enterprise of cent percent German ownership, M/S United Bridal Factory Limited, is investing about US$12 million and relocating one of their successful factories from Poland to Bangladesh.
To this end, Bangladesh Export Processing Zones Authority (BEPZA) and M/S United Bridal Limited on Wednesday inked a land lease agreement at Bangladesh Embassy in Berlin, said a press release here.
Ambassador of Bangladesh in Berlin Md Mosharraf Hossain, Chairman of United Bridal Factory Limited Bartosz Wodecki, Managing Director of the United Bridal Factory Limited Adrian Gaszaka, BEPZA Member (Investment Promotion) Md Mahmudul Hossain Khan and other BEPZA senior officials attended the function.
During the function, Md Mosharraf Hossain congratulated the investors and assured them of his all-out support.
He mentioned that he recently talked with the German Ambassador in Dhaka who is also very pleased with this investment. Commercial Counsellor of the Bangladesh Embassy in Berlin Md Saiful Islam moderated the function.
Recently, BEPZA has permitted MS UBF Bridal Limited for setting up a garments manufacturing factory in Adamjee EPZ. Due to current corona pandemic, the investor is unable to travel to Bangladesh to sign the necessary paper works, therefore, innovative arrangements have been made and the embassy is facilitating the signing ceremony so that this great investment project can go ahead without hindrance.
The company will not only produce high-end bridal wear but also bridal accessories making a total 27 different bridal items for the European and also growing international markets.
Along with the creation of further employment sector, there will be also transfer of technical knowledge and skills.
BSEC forms body to probe unusual price hike of five MFs
Business Desk
The securities regulator has formed a two-member body to probe into the unusual price hike observed recently in the units of five closed-end mutual funds (MFs).
The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday formed the body and asked it to submit the inquiry report within 30 working days, according to BSEC officials.
The MFs whose trading and price hikes of units will come under inquiry are: CAPM-IBBL Islamic Mutual Fund, NCCBL Mutual Fund-1, Vanguard AML Rupali Bank Balanced Fund, SEML IBBL Shariah Fund and Prime Finance First Mutual Fund.
The BSEC officials said the prices of the units of these MFs rose by up to 50 per cent in last one month.
The BSEC committee led by Deputy Director Md Ohidul Islam will dig out irregularities in trading and price manipulation, if any, in the unit prices of the funds.
Business Desk
The securities regulator has formed a two-member body to probe into the unusual price hike observed recently in the units of five closed-end mutual funds (MFs).
The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday formed the body and asked it to submit the inquiry report within 30 working days, according to BSEC officials.
The MFs whose trading and price hikes of units will come under inquiry are: CAPM-IBBL Islamic Mutual Fund, NCCBL Mutual Fund-1, Vanguard AML Rupali Bank Balanced Fund, SEML IBBL Shariah Fund and Prime Finance First Mutual Fund.
The BSEC officials said the prices of the units of these MFs rose by up to 50 per cent in last one month.
The BSEC committee led by Deputy Director Md Ohidul Islam will dig out irregularities in trading and price manipulation, if any, in the unit prices of the funds.
Sales of Walton TV, home appliances
go up in Q1
Economic Reporter
Walton Hi-Tech Industries Limited registered a 13.24 per cent growth in its television, electrical and home appliances sales of the July- September quarter of the current financial year compared with the same period of the previous fiscal.
In the same period, Walton posted around Tk 4.01 billion net profits and also its per-share net asset value rose to Tk 278 as of September 30 from its earlier Tk 261.92 of June 30 this year.
Walton Hi-Tech disclosed these at its recent published unaudited financial statement for the first quarter (July-September) of the current financial year, according to a press release.
According to its financial statement, Walton Hi-Tech recorded total sales of around Tk 15.72 billion in the first quarter of the current financial year. Of which, sales of Walton’s TV, electrical and home appliances rose 13.24 per cent at the same time.
go up in Q1
Economic Reporter
Walton Hi-Tech Industries Limited registered a 13.24 per cent growth in its television, electrical and home appliances sales of the July- September quarter of the current financial year compared with the same period of the previous fiscal.
In the same period, Walton posted around Tk 4.01 billion net profits and also its per-share net asset value rose to Tk 278 as of September 30 from its earlier Tk 261.92 of June 30 this year.
Walton Hi-Tech disclosed these at its recent published unaudited financial statement for the first quarter (July-September) of the current financial year, according to a press release.
According to its financial statement, Walton Hi-Tech recorded total sales of around Tk 15.72 billion in the first quarter of the current financial year. Of which, sales of Walton’s TV, electrical and home appliances rose 13.24 per cent at the same time.
