Rising costs negatively impacting printing industry

Khan Brothers PP Woven Bag Industries has decided to sell its ownership to BSB-Cambrian Education Group due to ongoing financial difficulties stemming from a severe working capital shortage. This decision follows a recent directive from the Bangladesh Securities and Exchange Commission (BSEC) to investigate a notable surge in Khan Brothers' stock prices on the Dhaka Stock Exchange. 

SK Trims & Industries has announced the closure of its factory due to the freezing of all nine bank accounts since July, which was prompted by corruption and money laundering allegations. The company, which relies entirely on exports, struggled to operate without access to its funds. The frozen accounts are linked to a controversial revenue official, whose family members were reportedly investors in SK Trims through stakes in other companies.

Book sales in Bangladesh have dropped by about 50% over the past two months due to recent socio-political unrest, including student-led protests. Contributing factors include rising inflation, reduced purchasing power, the closure of educational institutions, and flooding.

Sonali Paper & Board Mills reported a substantial loss of Tk 118 million for the January-March 2024 quarter, a 4.8-fold increase from the previous year, largely due to unrealized losses from stock market investments. Loss per share rose to Tk 3.6 from Tk 0.75.

Star Adhesives Ltd, part of the Partex Star Group, has received approval from the Bangladesh Securities and Exchange Commission to issue a Tk50 crore convertible bond. The bond will be unsecured, fully convertible, or redeemable over six years, with a one-year moratorium.

Bashundhara Paper Mills, a prominent manufacturer of paper and paper allied materials, faced a notable 20% decline in profit during the initial nine months of the fiscal year 2023-24. The company's profit for the July-March period dropped to Tk31.51 crore from Tk39.25 crore in the same timeframe of the previous fiscal year. Despite a responsive business strategy resulting in a 4.01% increase in sales,