News Briefs-(25-5-2018)

Atlas signs MoU with TVS Auto

A memorandum of understanding (MoU) has been signed between Atlas Bangladesh Limited and TVS Auto Bangladesh Limited (TVS) on Thursday at the office room of the Industries Minister. The company will assemble and sell motorcycles of TVS brand to the government, semi-government and government-funded projects, autonomous bodies and any other government/non-government organisations (NGOs) through open tender method (OTM) or direct procurement method (DPM). The company can sell the motorcycles to any individual or retail sales with the prior approval/permission from the TVS Auto.

— DSE Online

Credit rating

Asia Pacific Ins: Alpha Credit Rating Limited (AlphaRating) has rated the company as "AA" in the long term and "ST-1" in the short term along with a stable outlook based on the audited financial statements of the company as on December 31, 2017 and other relevant qualitative information till May 23, 2018.

Dhaka Bank: Emerging Credit Rating Ltd. (ECRL) has assigned the surveillance rating to the company as "AA" in the long term and "ST-2" in the short term along with a stable outlook based on the audited financial statements of the company up to December 31, 2017 and other relevant quantitative as well as qualitative information up to the date of rating declaration.

— CSE Online