Picture: Collected
Professor Dr. Rumana Islam, Commissioner, Bangladesh
Security Exchange Commission (BSEC), said that Spondon Oil has come up with a
new way after its acquisition. We hope the organization will do much better.
She made
the remarks at the unveiling ceremony of Spondon Rice Bran Oil at a five-star
hotel in the capital on Tuesday (June 28, 2022).
The commissioner said Emerald Oil would protect the
interests of investors. We hope the company will be able to create a better
position within the next one year.
“Spondon Oil will serve as an example for companies that
have closed in our country’s capital market,” Rumana said. Our capital market
institutions have a lot to learn from Spondon. Hopefully, the listed companies
in the capital market will be more excited to see Spondon Oil.
Saifur Rahman, executive director of BSEC, said they had
nothing after the closure of Emerald Oil. Now after the acquisition, the
company has to do everything anew. After five years they are doing quite well
in production. They have already produced about Tk 45 crore worth of oil in the
last five months. Which is good news for investors.
"Learning from Emerald Oil can be used to revitalize
companies that have been shut down in the capital market," he said. The
company will be able to earn huge amount of foreign exchange through the
exports they produce. Which he thinks will be a new addition to exports.
Emerald Oil Managing Director Md. Afzal Hossain said, “We
have started quite well since the acquisition of the company. However, the lack
of adequate gas is hampering production. Due to lack of gas, 100% capacity is
not going to be utilized.
"In a short time, we will be able to show investors the
way to light," he said. From tomorrow, commercial sale of Spondon oil will
start in Dhaka city. He hopes to sell oil across the country in the next one
month.
|Source: Online/GFMM
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