Titas Gas’s Profit Drop by 62%

Bank Asia PLC is offering home finance through its Islamic Banking services at a record-low 10.50% profit rate, with no compounding profit or pre-maturity fees. Salaried applicants need employment documents, while business owners must provide trade and financial records. Additional documents, like agreements with developers or construction approvals, are required based on the purpose.

LafargeHolcim Bangladesh reported a 45% year-on-year profit drop for Q3 2024, with sales declining 2% to Tk 6.27 billion, due to macroeconomic challenges and high inflation impacting the construction sector. EPS fell from Tk 1.38 to Tk 0.76.

Premier Cement Mills PLC returned to profitability with a Tk 74.23 crore profit for FY24, following two years of losses, and announced a 21.5% cash dividend, its highest in nine years. The turnaround, attributed to reduced foreign exchange losses and a new efficient production unit, saw EPS rise to Tk 7.04 from a loss of Tk 7.99 the previous year.

Far East Knitting & Dyeing reported a 3.7% profit increase to Tk 35.87 crore for FY24, with EPS rising to Tk 1.64 and NOCFPS surging to Tk 6.36, driven by stronger cash inflows. The board proposed a 14% cash dividend, the highest in 10 years, reflecting growth in serving major brands like Zara and Mango.

Protests are ongoing within rural electricity associations under the Bangladesh Rural Electrification Board (BREB) due to the dismissal of 24 officials and employee demands. This unrest has resulted in severe load shedding and blackouts nationwide.

A lobby within the state-run Bangladesh Petroleum Corporation (BPC) is reportedly trying to award a Chinese firm the operation and maintenance contract for the Single-Point Mooring (SPM) system in the Bay of Bengal without a tender process, raising transparency concerns.