Beach Hatchery a soft ball for artificial game in bourses


Post View:

Beach Hatchery a soft ball for artificial game in bourses

By Jesus Khan

 Operation of a listed company, Beach Hatchery Limited (BHL), has been suspended for over four years, but share script of the same is traded well high values in the markets.

“The factory has dismantled by the government to construct marine drive road and entire operation has stopped,” the company in its official statement has said.

A market expert said, share prices of this junk companies along with such other 30 non performing companies has rose abnormally despite the absence of price sensitive information and growth in earnings, posing a threat to stability in the capital market.

Such price hike of junk company creates opportunity by the gamblers foul play with general investors. Manipulators usually target small cap company as their prices can be easily manipulated and the demand for their shares can be artificially inflated.

Such practice frequently leads to general investors losing money as they gamble in junk shares, despite warnings from regulators and financial experts to not pour funds into the capital market without proper knowledge and information, Zobaer Islam, a trader of DSE said.

The BHL, incorporated in 1994 and got listed at both the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) in 2002.

The share scripts of BHL was traded between Tk11.40 and Tk24.20 at both the bourses during the said period.

The company produces shrimp fry with setting paid up capital worth Tk41 crore and authorized capital worth Tk 200 crore.

The BHL is its annual financial statement has said it spent Tk 51 lakh as office and administrative cost while it show a profit of Tk 98 lakh which mostly come as factory overhead as on December 31, 2019. The 50 personnel company got a loan from local Bangladesh Krishi Bank Branch.

The company shows Tk 41 crore as share capital balance as well as Tax holiday reserve worth Tk 1.6 crore during the previous year. It also show Tk 21.65 crore as property, plant and equipment value.

The company beyond its main operation has got 100 bigha land lease for launching a new hatchery plant at Mymenshing and an another hatchery plant at Saint Martin Island worth Tk 250 crore.

Source of the money has not been disclosed while it informed local media that it signed an agreement with AquaOptima, a Norwegian company, to bring in the technology.

The plant is told to have a capacity to grow 2,400 tonnes of the fish annually. Initially, it will produce 1,200 tonnes,

The plant would use the recirculating aquaculture system (RAS), a greenhouse technology, and the water from the Bay of Bengal.

The businessman is going to open the letter of credit (LC) within three months to bring in the technology and all necessary equipment.

Md Shariful Islam, chairman of Beach Hatchery did not response in a series of call and SMS to his personal mobile.



Please enter your comment!
Please enter your name here

Share post:




More like this

AHCAB Expo highlights technological advancements in animal, aqua farm management

BM Report: The Animal Health Companies Association of Bangladesh (AHCAB)...

BUET professor Syeda Sultana Razia receives OPCW The Hague Award

BM Report: A distinguished Bangladeshi scholar, Professor Syeda Sultana Razia...

Evince Group wins BGMEA Cup

BM Report: Textile and apparel export sector giant Evince Group...

RBH equips factories with human rights and environmental due diligence expertise

BM Report: The Responsible Business Hub (RBH), a joint initiative...