Berger Paints Bangladesh Limited has obtained approval from Bangladesh Investment Development Authority (Bida) to acquire a $60 million loan from its parent company, J&N Investments (Asia) Limited. The loan will support the opening of letters of credit for raw material imports and will be disbursed in phases based on business needs. With J&N Investments holding 95% of Berger Paints’ shares, the loan aims to bolster the company’s foreign currency reserves and facilitate smoother import operations. Despite challenges such as expensive raw materials and local currency devaluation, Berger Paints recorded a 4% year-on-year increase in consolidated profit, reaching Tk301 crore by the end of March 2023. The company recently recommended a 400% cash dividend for the financial year, continuing its strong performance in dividend payouts.
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