Golden Son Limited (GSL), a listed company involved with manufacturing variety of products and a cent per cent export oriented company, aimed to double its net profit within next three years.
"Currently we are undergoing a massive expansion of production capacity and hope to introduce more projects in near future. If every thing is going on, our net profit will double by 2017," Belal Ahmed, managing director of GSL told journalists at his office in Chittagong on Statuary.
The Golden Son Ltd, listed in bourses in 2007, earned net profit around Tk 45.23 million in 2012 and the company gave 15 per cent stock dividend that year for its investors.
GSL started its journey in 2003 and embarked on a joint venture with Taiwan's finest engineers and Bangladesh's industrial expertise to provide the highest quality products and services at competitive prices.
Currently, the company produces fans and fan accessories, garment accessories, household items, solar items, screw items, water pumps, sports and baby toys and exported cent per cent of its products throughout the East and in parts of Europe.
"We are adamant on providing unbeatable service and products and have already grown a substantial customer base throughout the East and in parts of Europe," said Mr Belal.
"We have already applied for our products' clearness certificate in USA. If we get the clearance, our income will increase ten times," he hoped.
"GSL is focusing on developing a range of goods across a multitude of departments, our biggest sectors being in electrical motors for fans, non-electrical cookware appliances as well as garment accessories," said Mr Belal.
"We have also invested in the manufacturing of LED (AC) lighting with plans to expand into solar-based lighting (DC) to establish a greener environment," he said, adding that GSL also plans to produce Air Conditioner (AC) and Refrigerator in future.
"We have also planned to produce products for our local buyers at a competitive price and hopefully we will be able to marketing within next two year," said Mr Belal.
The GSL Export Ltd, a subsidiary of GSL, also set up a toy-manufacturing factory in its premises in Chittagong. Earlier, a memorandum of understanding was signed with Stephen Christenson in 2013, a German industrialist and businessman, to commence production.
Under the agreement, Christenson owned 50 per cent share, Golden Son own 40 per cent, and Belal Ahmed himself own 10 per cent stakes in GSL Export Ltd.
"Hopefully, we will be able to start commercial operation within next two months. The produce will be exported all over the world," said Mr Belal Ahmed.
The GSL raised a fund worth Tk 60 million through initial public offering (IPO) in 2007 and became listed in both bourses --- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) in 2007.
In 2009, the GSL raised a fund worth Tk 200 million through Repeat Public Offering (RPO) by issuing 10 million ordinary shares at an offer price of Tk 20, including premium of Tk 10 each.
In 2010, GSL issued one rights share for every one share (1R:1) at a price of Tk 30, including Tk 20 as premium and raised over Tk 1.44 billion.
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