In a filing with Dhaka Stock Exchange on 28th June (Monday), the Beach Hatchery Limited announced that it has started its production activities after more than five years.
The company also said that it will restart the operation with white fish, including Telapia, Koi, Pangsh and Pabda using the intensive culture method.
The production capacity will be around 105 tonnes per year initially. The company will be using 15 concrete tanks, each with 55,000 litres of water holding capacity.
The company further said that the production process will constitute hatchery unit, nursery unit, pre-grow out, grow out, harvesting and sale.
They will also organically increase the production capacity gradually, using existing structures that remain unutilised.
However, the company’s earnings started to fall and in the third quarter (January-March) 2020, its EPS was 0.23 in the negative as against Tk 0.08 in the negative for the same period in 2019.
On the other hand, the Bangladesh Securities and Exchange Commission (BSEC) has fined Beach Hatchery’s three directors and two investors Tk 1.02 crore for manipulating shares of the company in 2009-10.
The stock market regulator charged Beach Hatchery’s directors Fahmida Islam Tk 12 lakh, Meghna Shrimp Culture Limited Tk 25 lakh and Syed Nur Ahmed Tk 5 lakh for making illicit gains through price rigging.
The BSEC charged Sayf Ullah Tk 10 lakh and Mafidul Haque Tk 50 lakh for the manipulation.