Bashundhara Paper Mills just held its annual meeting online with no dividend for shareholders. The virtual AGM, chaired by adviser A R Rashidi and attended by directors like Captain Md Mahbubul Alam and CEO Md Mustafizur Rahman, approved the annual financial statements and appointed auditors for the next fiscal year. Rashidi outlined a tough year where company revenue dropped over fifty percent due to inflation, foreign currency issues, and high material costs, leading to increased losses despite some export earnings and tax payments.
He noted the broader paper industry in Bangladesh has grown, with demand shifting from writing paper to packaging and tissue grades, but argued for government support like reduced taxes and import restrictions. Shareholders who joined the digital meeting thanked the board for safeguarding investor interests, with the event being certified as fully compliant with securities regulations by the firm Mohammadullah and Associates. The company also highlighted receiving a corporate award for its environmental and waste management efforts this year.
He noted the broader paper industry in Bangladesh has grown, with demand shifting from writing paper to packaging and tissue grades, but argued for government support like reduced taxes and import restrictions. Shareholders who joined the digital meeting thanked the board for safeguarding investor interests, with the event being certified as fully compliant with securities regulations by the firm Mohammadullah and Associates. The company also highlighted receiving a corporate award for its environmental and waste management efforts this year.
