FE Report
The board of directors of Deshbandhu Polymer has approved a Memorandum of Understanding (MoU) signed with an Indian company for exploring business plan, said an official disclosure Monday.
Under the deal, Reform Packaging Pvt, a Gujrat-based company will be extending expertise to assess current operation status of Deshbandhu Polymer and recommend action plan to improve efficiency.
Reform Packaging will extend marketing support to facilitate export of Deshbandhu Polymer products, provide access to the Bangladeshi company to share best practices and operation resources.
The Reform Packaging will also participate in the planning expansion roadmap for Deshbandhu Polymer and consider investing in the listed company of Bangladesh.
Reform Packaging and Deshbandhu Polymer will jointly explore further engagement and investment possibilities within Bangladesh and beyond.
Deshbandhu Polymer, a "Z" category company, was listed on the Dhaka bourse in 2011.
The board of directors of the company has recommended 10 per cent stock dividend for the year ended on June 30, 2017.
The final approval will come during the annual general meeting scheduled to be held on 21 December.
Each share of the company closed at Tk 24.80 on Monday at Dhaka Stock Exchange (DSE), registering an increase of 2.90 per cent over the previous day.
The company's share price traded between Tk 10.40 and Tk 25 in the last one year.
The company has reported earnings per share (EPS) of Tk 0.19 for July-September, 2017 as against Tk 0.16 for July-September, 2016.
The company's paid-up capital is Tk 557.87 million and its authorised capital is Tk 3.0 billion while total number of its securities is 55.78 million.
The sponsor-directors own 33.54 per cent stake in the company while institutional investors own 7.82 per cent and the general public 58.64 per cent as of November 30, 2017.
Deshbandhu Polymer is a manufacturer of PP woven bag in Bangladesh suitable for packing all types of food grain, wheat flour, chemicals, cattle feed, fish feed, sugar, rice, fertilizer and many more things that need packing.
Reform Packaging is amongst the largest manufacturer and exporter of fabrics, hessian bags, twine, hessian cloth, carpet baking cloth, shopping bags etc.
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