Light Engineering Driving Investment GDP Growth

Economy faced a slowdown in fiscal 2022-23, with GDP growth bouncing back to 5.78% in the fourth quarter. Despite inflationary pressures from the Russia-Ukraine war, the country saw strong economic growth of over 9 percent in the first quarter. However, GDP expansion slowed to about 7.77% in the second quarter and plummeted to 2.04% in the third quarter.

Bangladesh Bank anticipates a 6.5% GDP growth for the fiscal year 2023-24, contrasting with the government's optimistic 7.5% projection. Aligned with the Asian Development Bank's estimate but below the World Bank, IMF, Fitch, and Moody's assessments, the central bank attributes the growth forecast to major project completions, industrial and services sector activities, and favorable agricultural output.

Kohinoor Chemicals has outshoned competitors, achieving 19% YoY profit growth in FY23, driven by strong sales of its popular soap, cosmetics, and toiletry brands. In contrast, other chemical suppliers faced profit declines and losses attributed to costlier raw materials, a stronger dollar, and energy price hikes, impacting

Meghna Pet Industries and its top brass, including chairman and managing director, face Tk 35 million in fines from the Bangladesh Securities and Exchange Commission (BSEC). The penalties result from the company's failure to disclose the suspension of production since 2004, a violation of price-sensitive information norms.

Orion Infusion, a pharmaceutical company, plans to raise its paid-up capital from Tk 203.60 million to Tk 305.40 million by issuing one new share for every two existing shares. Investors can purchase one new share at Tk 20 for every two they currently hold, with the company set to collect Tk 203.60 million by selling 10.18 million shares at Tk 20 each.

Kohinoor Chemicals Company (Bangladesh) Limited, a listed entity in the capital market, has declared a dividend for the financial year ending June 30, 2022. The company will pay investors a 40 percent cash dividend and a 10 percent stock dividend.