Argon Denims to purchase new looms

SK Trims to invest Tk 45m in Anik Trims


FE Report | Published: October 08, 2018 10:35:33 | Updated: October 09, 2018 10:34:32


The board of directors of Argon Denims has decided to procure 48 European-origin brand new looms at an estimated cost of euro 1,845,400 (about Tk 177.62 million).

A loom is a device used to weave cloths and tapestry.

"This will increase the volume of production of the factory," the company said in a disclosure posted on the Dhaka Stock Exchange (DSE) website on Sunday.

Each share of Argon Denims, which was listed on the Dhaka bourse in 2013, closed at Tk 28.20 on Sunday, registering an increase of 0.71 per cent over the previous day.

Its share traded between Tk 24 and Tk 35.60 in the last one year.

Recently, the board of directors of company has recommended 15 per cent cash dividend for the year ended on June 30, 2018. In 2017, the company disbursed 12.50 per cent cash and 5.0 per cent stock dividend.

The final approval of dividend will come during the annual general meeting (AGM) scheduled to be held on October 30. The record date is on October 11.

The company has also reported earnings per share (EPS) of Tk 3.18, net asset value (NAV) per share of Tk 26.56 and net operating cash flow per share (NOCFPS) of Tk 4.21 for the year ended on June 30, 2018 as against Tk 2.91, Tk 25.80 and Tk 3.99 respectively for the same period of the previous year.

The company's paid-up capital is Tk 1.19 billion and authorised capital is Tk 1.50 billion, while the total number of securities is 119.97 million.

The sponsor-directors own 37.13 per cent stake in the company while institutional investors own 30.47 per cent and the general public 32.40 per cent as on August 31, 2018, the DSE data shows.

SK Trims: The board of directors of SK Trims & Industries has decided to invest Tk 45 million in Anik Trims Ltd.

The Anik Trims is a 100 per cent export-oriented industry, situated at Golra Charkhanda in Manikganj, according to an official disclosure on Sunday.

Anik Trim's products are marketed based on requirements of the buyers. It exports photo card, back board, bar code, hangtag, sewing thread, elastic, poly, carton, tissue paper, gum tape etc. against L/C, said the disclosure.

SK Trims, a garments accessories and packaging company, made its share trading debut on July 15 this year.

Each share of the company closed at Tk 35.60 on Sunday, losing 1.38 per cent over the previous session.

SK Trims raised a fund worth Tk 300 million from the capital market through initial public offering (IPO) under the fixed price method.

The company will use the IPO fund for acquisition of machinery and equipment, construction of building and other civil works and bear the IPO expenses.

In the nine months period from July, 2017 to March, 2018, the company's net profit stood at Tk 43.11 million, pre-IPO EPS was Tk 1.08 and post-IPO EPS was Tk 0.62.

Pre-IPO net asset value (NAV) per share was Tk 13.86 and post-IPO NAV per share was Tk 12.21 as of March 31, 2018.

The company's paid-up capital is Tk 700 million and authorised capital is Tk 1.0 billion while total number of securities is 70 million.

The sponsor-directors own 30.29 per cent stake in the company while institutional investors 21.22 per cent and the general public 48.49 per cent as on August 31, 2018, the DSE data shows.

SK Trims & Industries, which started its commercial operation in 2014, is engaged in manufacturing all kinds of sewing thread, elastic, poly, carton, photo card, back board, bar code etc for export-oriented garments industry.

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