The wheels of Ring Shine Textiles and Emerald Oil companies have started rolling again after being shuttered for many years, and another firm is on the verge of resuming operations, thanks to the Bangladesh Securities and Exchange Commission’s reformation of boards (BSEC).
Last year, the stock market regulator began recasting the boards of directors of a handful of publicly traded firms that had been closed for a long time or had failed to pay dividends to shareholders in the previous two years.
The goal was to turn the companies’ fortunes around, protect investors’ interests, and re-establish market trust.
C&A Textiles, Ring Shine Textiles, United Airways, Familytex (BD), Emerald Oil, Fareast Finance, Fareast Islami Life Insurance, FAS Finance, BD Wielding, and Al-haj Textiles’ boards were initially reformed by the regulator.
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