FE Report
Saiham Textile Mills incurred losses approximately Tk 700 million due to a fire that broke out at its warehouse in Hobigonj on December 11.
Fire broke out in the mill stock godown (located in Noyapara, Madhabpur, Hobigonj) at about 1:30am on December 11, said a disclosure posted on the Dhaka Stock Exchange (DSE) website on Monday.
The company replied to the DSE queries regarding news published in the online newspaper on December 11 that the fire quickly spread through raw material and gutted the whole warehouse.
Teams of fire brigades from three districts brought the fire under control after 20 hours, the disclosure said.
The company informed that there is insurance coverage of the warehouse including the entire stock of the material inside the godown.
The insurance is fully industrial all risk policy (I.A.R) covered of the warehouse including entire stock.
Immediately the insurance company was informed to enquire and ascertain the losses incurred due to the accident and they have already visited the site on the day of occurrence to ascertain the quantum of loss and it is under process, the company added.
Production, delivery and other activities of the factory is now absolutely normal and there is no impact of the operation of the mill due to the fire incident, the company said.
The local administration and many other senior officials visited the spot and extended all co-operations.
The share price of Saiham Textile, which was listed on the Dhaka bourse in 1988, closed at Tk 53.40 each on Monday, losing 4.47 per cent over the previous session.
The company has recommended 15 per cent cash dividend for the year ended on June 30, 2018. The company will hold its annual general meeting today (Tuesday).
In 2017, the company disbursed 12 per cent cash dividend.
The company's unaudited earnings per share (EPS) stood at Tk 0.51 for July-September, 2018 as against Tk 0.26 for July-September, 2017.
The net operating cash flow per share (NOCFPS) was Tk 1.94 in the negative for July-September, 2018 as against Tk 1.10 for July-September, 2017.
The net asset value (NAV) per share was Tk 27.50 as on September 30, 2018 and Tk 26.98 as on June 30, 2018.
The company's paid-up capital is Tk 905.63 million and authorised capital is Tk 1.50 billion, while the total number of securities is 90.56 million.
The sponsor-directors own 33.70 per cent stake in the company, while institutional investors own 43.56 per cent and the general public hold 22.74 per cent shares as on November 30, 2018.
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