Rising costs negatively impacting printing industry

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,

Prime Bank Investment Limited (PBIL) recently finalized two notable Merger & Acquisition (M&A) deals for Magura Group, solidifying its position in Bangladesh's investment banking sector. The mergers involved Pearl Paper and Board Mills Limited merging with Bangladesh Monospool Paper Manufacturing Co. Ltd., and Magura Paper Mills Limited merging with Paper Processing & Packaging Limited, both receiving approval from the High Court Division and Bangladesh Securities & Exchange Commission.

Bashundhara Paper Mills faced a 17% decline in net profit for the first half of FY 2024, despite a 4% growth in revenue. The company attributed the profit dip to a dollar crisis, which hampered raw material imports, leading to reduced factory operations.

Zeeshan Group, a renowned One Stop Solution Provider in Bangladesh's Printing & Packaging Industries, has won the "Best Indenting Service Export Award 2022" five times since 2017. The ceremony, organized by the Bangladesh Indenting Agents' Association (BIAA), was held at the Pan Pacific Sonargaon Hotel in Dhaka on 27 January. The award was given to 16 indenting companies for their contribution to the service export sector, with Zeeshan Group winning the first prize.

Bashundhara Paper Mills Limited and Bashundhara Multi Paper Industries Limited have released their inaugural Sustainability Report, signaling a significant commitment to environmental, social, and governance (ESG) responsibility in the Bangladeshi paper industry. The report, covering the fiscal year 2021-22, adheres to Global Reporting Initiative (GRI) Standard guidelines and aligns with Sustainable Development Goals (SDGs).