RegulatoryMEGHNACEM

Brokers Asked to Suspend Margin Loans for MEGHNACEM Shares

Published
Last verified by BullBD

Announcement summary

What happened
Brokers and merchant bankers were asked to stop providing margin-loan facilities for purchases of MEGHNACEM shares.
Company
Meghna Cement Mills PLC.
Announcement published

Original announcement

(Cont. news of MEGHNACEM): On the other hand, they were agreed contract manufacturing with BRMCL, Unable to open LC timely for significant amount of USD crisis. Although they try to open LC but it is demand by bank 120% margin against this LC. Interest rate increased from 9% to 14.50%, price of raw material increased significantly which result decrease in profit and EPS as well. (end)

বাংলা অনুবাদ — BullBD

This is a BullBD translation of the published corporate disclosure.

(MEGHNACEM-এর চলমান খবর): অন্যদিকে, তারা BRMCL-এর সাথে চুক্তিবদ্ধভাবে উৎপাদনের জন্য সম্মত হয়েছিল, উল্লেখযোগ্য পরিমাণ USD সংকটের কারণে সময়মতো LC খুলতে পারেনি। যদিও তারা LC খোলার চেষ্টা করছে কিন্তু এই LC-এর বিপরীতে ব্যাংকের চাহিদা ১২০% মার্জিন। সুদের হার ৯% থেকে বৃদ্ধি পেয়ে ১৪.৫০% হয়েছে, কাঁচামালের দাম উল্লেখযোগ্যভাবে বৃদ্ধি পেয়েছে যার ফলে মুনাফা এবং EPSও হ্রাস পেয়েছে। (শেষ)

Source & verification

Source
Published company disclosure
Published through
Dhaka Stock Exchange
Announcement ID
6816e5507463ac9d44c50302
Original publication
Last verified by BullBD
Translation
BullBD
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