These companies were selected for national award for the year 1992-83. Prime Minister Begum Khaleda Zia distributed the awards among the owners of the companies yesterday morning at the Osmany Memorial Auditorium in the city.
Appex Tannery Ltd
Apex Tannery Is a lOOpc export oriented goat and cow finished leather company. Sales during tile FY 1892-93 amounted to Tk 879.1 million representing 15.078 million sft of finished leather against Tk 800.6 million representing 14.78 million sft in the last year, recording an increase of about 9.8pc In value and 15pc in volume. The unit price of sales has increased from Tk 54.17 to Tk 58.31 per sft compared from the previous year.
During the year 1992-93, the net profit after tax was Tk 32.372 million against Tk 28.197 million In the previous year showing an Increase of 14.81pc.
The company issued right shares to the existing shareholders in the proportion of 1:1 at a premium of Tk 200 per share (ie, each share 9 Tk 300) by a special resolution dalpd 19-11-92.
The company Issued Tk 40 million 50pc convertable debenture in 1987 which was converted into shares in 1990 and fully redeemed In 1992.
The composition of shareholders are sponsors/dlrectors and their relatives 30pC, Investment Corporation of Bangladesh (ICB) 21 pc. General Public-Local 9pc, General Public-Foreign 34pc and financial institutions 6pc.
Aziz Pipes Ltd
Initial production capacity of the company was 1,200 mt per year. In 1989, the capacity of the company has been increased to 2,400 mt per annum. Due to market demand of different type of quality pipes, the company enhance its existing capacity to 3,600 mt pa of - to 8" dta tn 1990.
Net sales in 1992 amounted to Tk 93.864 million which is 19.4pc higher compared to Tk 78.599 million in the previous year. This revenue Includes high sales of corrugated pipes which has Infact doubled in volume sales In 1992. About 123000 metres of corrugated pipes sales in 1992 against about 60000 metres in 1991. Though sales increase but net profit reduced by 31.1 pc Io Tk 4.546 mil. In the previous year.
The reason for lower profit anticipated in 1992 was due to higher production cost, adm and other expenses. All the 3 units of the Company are enjoying tax holiday.
Gross and net profit margin to sales in 1992 was 14.7 pc and 3.3pc and in 1991 it was 20.7pc and 5.8 pc respectively.
The shareholding of the Co are sponsors/dlrectors and relatives 50pc and General Public 5Opc including ICB and NCL. Total no. of shareholders as on 31-12-92 was 1910 of which ICB 1568, NCL 9 and others 333.
Bangladesh Export Import Company Ltd The Bangladesh Export Import Co Ltd (BEXIMCO) Is the flagship and management company of the BEXIMCO GROUP which consists of 15 independently Incorporated companies. The Bexlmco in 1972 and subsequently converted Into public limited company. The company has offices in Dhaka. Chittagong, Khulna. UK and USA. The company is specialize in mobilisation of non-traditional exports from Bangladesh and is a pioneer In the formulation and execution of special Trade Agreements (STA.s). The company is also a pioneer on developing markets for crushing anima] bones and allied products since 1973. It has two bone mills., qne at Chittagong and other at Khulna. The combined production capacity of these two mills are 8.550 metric ton per annum.
Total sales for the FY 1991 92 was Tk 644.043 million which was considerably lower than the sales of the prevldus year of Tk 1,229.206 million i.e. decline by 47.6 pc. Even though' the turnover reduced . considerably, gross profit for the year 1991-92 was Tk 41.998 million which is 6.52pc of sales as compared to Tk 43.418 million in the last year which was only 3.53pc of sales of that year. During the year under review. Tk 15.18 million was earned as commission, interest and service charges as against Tk 25.42 million during the previous year. STA turnover during 1991-92 was Tk 343.2 million against last year's turnover of Tk 1,212.5 million which Is a reduction of 71.68 pc.
BGIC
Gross premium income has gone up Tk 137.682 million as against Tk 123.022 million In 1991 registering an increase
by 1 1.75pc. Net premium Income has also risen to Tk 82.791 million in 1992 in. place of Tk 82.038 million in 1991. Gross claim paid in 1992 was Tk 38.184 whilst it was .Tk 57.338 million in 1991. Against these, the net claim paid in 1892 and 1991 was Tk 18.994 million and Tk 20.359 million respectively. Underwriting profit tn 1991 was Tk 14.634 million and it rose to Tk 18.588 million In 1992 making a 27pc increase over the previous year. In the Investment sector also the Income rose to Tk 20.297 million In 1992 as against Tk 19.246 million in 1991 making a 6pc increase over 1991.
Pre-tax profit rose to Tk 34.478 million in 1992 as against Tk 29.495 million in 1991, showing an increase of 17pc. The r /e of Tk 63.630 mill uii in 1991 has gone up to Tk 72.280 million in 1992 an increase of 14pc over 1991. The assets of the company has also gone up 25pc in 1992 to Tk 253.984 million from Tk 203.768 million in 1991.
Beximco Pharma—.-deals Limited
Gross sales during the FY 1992-83 was Tk 1.097.12 mil. which Includes Formulation Unit Tk 749.58 mil. and Basic Chemical Unit Tk 347.54 mil. which is an overall growth of 34pc over the preceding year. The turnover includes an export revenue of Tk 74.48 mil. earned through sales of basic chemicals to countries like Malaysia, Thailand and Singapore.
Net pre-tax earning of the company went up by 73pc to Tk 99.364 mil. over the previous year’s earnings of Tk 57.355 mil. Gross and net profit margin to sales ratio in FY 1992-93 was 23.68pc A 9.46pc compared to 22.55 pc and 7.08pc for the previous year respectively.
The BMRE programme undertaken earlier with BSRS was completed during the year resulting in substantial addition to much needed production capacity of the formulation plant. The company has embarked on and massive .expansion programme to create sufficient production capacity to support Its growth objective for the next five years and the required Infra-atructure in terms of plant space and environment so that, thereafter, replacement of production machinery alone will generate the'"Required production
capacity to meet company's sales demand for the year 2000 and beyond. To finance this expansion, the company issued a right shares 81:1 of 590,000 shares at Tk 425 each which include a premium of Tk 325 for each share of Tk 100 each. The company is enjoying tax-holding for five years in respect of its DRY-3 and Basic Chemical units effective from 1-10-89 and 1-12-90 respectively. Dry-1, Dry-2 A Wet units are taxable. '
The composition of shareholding are Beximco Group and its associates 48pc, General public Local 22.48pc and General Public-Foreign 29.52pc.
The City Bank Ltd
The deposit of the Bank grew by 7.93pc from Tk 5.39 billion of 1991 to Tk 5.82 billion in the year ending 31-12-92 while net loans and advances increased by 9.65pc from Tk 3.34 billion to Tk 3.66 billion. Total assets of the Bank stood at Tk 6.29 billion on 31-12-92 against Tk 5.87 billion of 1991 with cash reserves including deposit with Central and other Banks standing at Tk 1.41 billion against Tk 1.16 billion. Total liquid assets inclusive of Investment increased by 7.58pc from Tk 2.11 billion in the previous year to Tk 2.27 billion bi 1992. Total Import and export handled by the Bank rose to a high figure of Tk 6.53 billion against Tk 5.35 billion in 1991. The share of import accounted for 91.88pc amounting to Tk 6.0 billion, registering a growth of 25pc. Export was Tk 533.0 million against Tk 554.8 million in the preceding year.
Gross Income increased by 8.2pc to Tk 711.526 million from Tk 657.92* million while gross expenditure was Tk 627.453 million in 1992 against Tk 573.587 million In 1891.
At 31-12-92, the total number of branches of the Bank rose to 60 from 56 of the previous year. The total number of employee of the Bank on 31-12-92 stood at 1,618 comprising 46 executives. 985 officers and 588 other staff
The shareholding of the Bank as on 31-12-92 was Sponsors/Promoters 5Opc, General Public 45pc, Government of Bangladesh (GOB) Bpc
GQ Ball Pen Industries Ltd
The company is situated at BSC IC Industrial estate, at
Jessore and is engaged in manufacturing of Ball pen. Ball pen refill, gems clips and its marketing. During the year under review, the company imported and put into operation one set of machine which enabled the company to maintain the increased of production.
Net sales for the year 1992 was Tk 235.076 million which Is 30.26pc higher than the sales of the previous year of Tk 180.703 million. The net profit for the year 1992 was Tk 30.266 million against Tk 27.300 million tn the previous year showing an Increase of 10.86pc. Gross and net profit margin to sales in 1992 was 17.76pc A 12.87pc and in 1991 It was 21.13pc A 13.11 pc respectively.
With a view to maintain overall operational performance in foture, the management has decided to import further one set of machine at a cost of Tk 5.000 million. Besides, the company is expecting to put, the unit at Savar In operation for production of Gems Clip, Ball pen ink and other plastic items.
Monno Ceramic Industries Ltd
During FY end 30-6-1993, the company achieved a net sales of Tk 387.811 million registering a growth of 25.05pc over previous year sales of Tk 310.210 million. Out of the total sales proceeds, Tk 168.353 million was export sales and Tk 2]8.558 million was kcal sales. Value of export sales was increased by 11 pc
During'the FY 1882-83, the net profit was Tk 46.960 million which was marginally decreased over previous year profit of Tk 47.818 million. The reason for lower profit in the FY 1992-93 was due to in-create of input cost, for exchange devaluation, repairs and maintenance, depreciation and financial expenses.
Gross and net profit to sales ratio during FY 1992-93 was 25.06 pc A 12.1 Ipc and in FY 1991-82 it was 26.71 pc A 15.42pc respectively.
The erection and installation of the plant and machinery of the Untt-2 of the company has been completed and the Unit-2 has commenced commercial production from March 1992. The Unit 2 has been granted tax holiday by NBR for 7 year*. After Imple mentation of Unit-2, the total production capacity of the company has increased by 8Opc
Singer Bangladesh Ltd
’Principal activities of the company are manufacturing and marketing of sewing machines and related products. Other activities are marketing of electric bulbs, refrigerators and fans. Net sales for the year 1992 was Tk 338.906 million which Is 34.7pc higher than the sales of the previous year of Tk 251.524 million, a record for the company’s business.
The net profit after tax for (he year 1992 was Tk 12.283 million against Tk 7.850 million in the previous year showing an Increase of 56.5pc. Sale volume of sewing machines, refrigerators and fans In 1992 has a growth of eight per cent, 39 pc and 216 per cent respectively over 1991: Decorative fans marketed by the company, manufactured by Electrical and Systems Services Co Ltd. (ESSCO), where Singer holds 3 Ipc equity, generated quite A stir in the market for ceiling, box. table and wall mounting Ians. (
The shareholding positloik of the company are Singed Sewing Machine Co, USA 60 pc. Singer Sewing Machine Co Ltd (Bangladesh management) 20 per cent and local shareholders 20 pc.
Usmania Glass Sheet Factory Ltd
During the FY 1992-93, 1.314 million sq m of glass (2 mm basis) worth of Tk 168.312 million were produced against 1.374 million sqm in the previous year. Sales during the FY 1992-93 were 1.308 million sqm of glass valuing Tk 167.670 million against 1.336 million sqm amounting to Tk 174.880 million in the previous year.
Net profit after tax for the FY 1882-83 was Tk 23.676 million compared to Tk 26.117 million tn the previous year, a decrease by 8.4pc.
The company has taken an effective step for the factory's BMRE aiming at increasing the production capacity and Improvement of quality of glass under a Belgian grant and technology is under active consideration by the GOB On completion of BMRE. annual production capacity will rise to I 867 million sqm from the existing 1.245 million sm, Indicating the capacity Increase by 5Opc
The shareholding of the company as on 30 6-1983 was GOB/BCIC 61 72pc Officer*/StafT and Worker* 4 2 8 pc and General Public 34p.