By Sobnom Sohorat
Share prices of Ambee Pharmaceuticals Limited witnessed abnormal escalation and dwindle at both DSE and CSE albeit the company perform poorly in its operation. The company earned Tk 3.36 million net profit after tax in 2019 against Tk 8.26 million in 2018. Earning per share of the company also dropped to Tk 1.40 per share in 2019 against Tk 3.44 each share in 2018.
The Ambee Pharma owned by controversial industrialist has been traded between Tk 350 and Tk 750 within the last 52 two weeks period. The company paid paid 30 percent cash dividend to its share holders last week for the year 2019 despite its profit and earning per share fall significantly. Earning per Share (EPS), by Tk. 2.04 due to profit after tax decreased by Tk 45 lakh in the last year, an official of the company has said.
Explaining reduction of EPS a spokesperson of the company said “Income taxes of Taka 55.86 lakh and interest on WPPF Fund of Taka 9.4 lakh which relates to previous year have been charged as expense for the year resulting decrease of EPS.,” Abnormal price escalation as well fall subsequently of Ambee pharma which has 2.4 million share worth Tk 10 each within a short period of time has raised questions among stakeholders.
A syndicate play wrong with small portfolio companies, Ambee Pharma is one of its recent example, Abu Bakar, a share trader of Dhaka Stock Exchange said.
During the 52 weeks nly the ICB sold out its 4 per cent share of the company out of 7 percent
Ambee Pharma launched pharma business mainly getting finance from the industrialist. A father of five, three sons and two daughters, Aziz Bhahi has been living in Thailand for a long time. In his absence, his wife Naureen Aziz has been successfully running a number of family businesses in Bangladesh, including the ones in pharmaceuticals, the iron and steel sector, and consumer goods.
According to Dhaka Stock Exchange website Naureen is the executive director and managing director of Ambee Pharmaceuticals, and chairman of the company’s Management Committee. Naureen also the director of Bengal Steel Works Ltd, Ambee Ltd, AKES B, and The Morning Sun. She has also been named proprietor of Progoti Printing and Packaging.