Confidence Group 2nd Largest Power Plant at BSMSN

A public dispute among LPG traders in Bangladesh erupted after Azm J. Chowdhury, chairman of East Coast Group, alleged illegal LPG imports from Iran. He filed complaints with authorities, but customs and port officials found no evidence to support his claims. In retaliation, other traders accused Chowdhury of attempting to monopolize the market through his company, Omara Petroleum Limited, which dominates LPG imports.

Sylhet Gas Fields Limited (SGFL) has discovered gas while renovating an old well in Haripur, estimating a daily extraction of 7 to 8 million cubic feet from well-7 at a depth of 1,200 meters. This follows an earlier find on August 14, which yielded 6-7 million cubic feet at 2,000 meters.

Singer Bangladesh reported a net loss of Tk 185 million in Q3 2024 due to lower-than-expected sales amid political unrest and floods, compared to a Tk 87.7 million profit in the same period last year.

Square Textile PLC has announced a 32% cash dividend for FY24, surpassing last year's 30%, and approved a Tk35 crore investment for balancing, modernization, rehabilitation, and expansion (BMRE). The company's EPS slightly rose to Tk5.89 from Tk5.81 in the previous year, while NAV per share increased to Tk51.82 from Tk48.93, and NOCFPS dropped to -Tk12.59 compared to Tk3.79.

BSRM Limited saw a 27% revenue drop to Tk8,352 crore in FY24, down from Tk11,506 crore. However, profit surged 48% to Tk432 crore, with an EPS of Tk14.48. The company announced a 35% cash dividend, and its shares rose 1.36% to Tk82.20.

Heidelberg Materials Bangladesh reported a Tk0.79 crore loss in Q3, with revenue dropping 20% to Tk293 crore amid political instability and slowed cement demand. The company's earnings per share (EPS) declined to Tk7.31 from Tk8.94 year-on-year. Shares fell 3.79% to Tk246.20.