bdnews24.com :
Nobody is claiming property of Padma Cement Limited, a publicly listed company dissolved two years back.
A public notice was issued on Mar 6, asking the claimants of the company’s property or creditors to turn up with their claims in 15 days.
Company’s liquidator Barrister Moksedul Islam told bdnews24.com that nobody had contacted him, though 13 days had passed since the publication of the notice.
He said if former officers, employees and workers, other creditors and shareholders had any dues with the company they could contact him with documents and detailed description. Padma Cement was enlisted on the country’s capital market in 2002 and its dissolution process started in November, 2012 at the decision of the board of directors.
According to information at the Dhaka Stock Exchange, the company suffered continuous losses from 2002 to 2010 before making a small profit in 2011.
Padma Cement gave dividend to its shareholders only in 2002. According to DSE information, general shareholders are holding 99.64 percent of the company’s shares and the sponsors only 0.34 percent.
Dhaka University Accounting Department teacher Prof Mizanur Rahman found it surprising the company repeatedly incurred losses for consecutive years and then folded up after posting a promit.
