News Briefs-(31-5-2018)

Golden Harvest, IFC lnfraventures ink deal

The Golden Harvest Ice-Cream Limited, a fully-owned subsidiary company of the Golden Harvest Agro Industries Limited, has signed an agreement with the IFC lnfraventures in the capital on Tuesday. As per the agreement, the companies will jointly conduct a feasibility study and implement a nationwide cold chain operation project in the country at an approximate cost of US$ 30 million. A cold chain network is a logistics system, which provides a series of facilities to ensure ideal storage conditions for various perishable items from the point of origin to the point of sales. Local processed food makers are increasingly investing in developing their cold chain networks to maintain the quality of items, industry insiders said. Golden Harvest is one of the leading business groups of Bangladesh with diversified interests in food, dairy, commodity, information technology, logistics, real estate, aviation, infrastructure development and insurance sectors. The company's share trading closed at Dhaka Stock Exchange (DSE) at Tk 40.40 each on Wednesday with a rise of 5.54 per cent or Tk 2.10.— FE Report

ECRL rates Bangas 'BBB+'

Emerging Credit Rating Limited (ECRL) has assigned rating to Bangas Limited as "BBB+" in the long term and "ST-3" in the short term along with a stable outlook based on unaudited financial statements of the company up to March 31, 2018 and other relevant quantitative as well as qualitative information up to the date of rating.

WCRCL rates Evince Textiles 'BBB2'

WASO Credit Rating Company (BD) Ltd. (WCRCL) has announced the entity rating of Evince Textiles Limited as "BBB2" in the long term and "ST-4" in the short term along with a stable outlook based on latest audited financial statements of the company for the financial year 2016-17 and other relevant quantitative and qualitative information of the company.

Resumption of trading

NCC Bank: Trading of the shares of the company will resume on Thursday after record date.

Global Ins: Trading of the shares of the company will resume on Thursday after record date.

Provati Ins: Trading of the shares of the company will resume on Thursday after record date.

Suspension of trading

AB Bank: Trading of the shares of the company will remain suspended on record date today (Thursday).

Shahjalal Islami Bank: Trading of the shares of the company will remain suspended on record date today (Thursday).

— DSE Online