Shamim Enterprise completes transfer of Sea Pearl shares to Sundarban Eco Resorts
Shamim Enterprise has completed transferring its holdings in the Sea Pearl Beach Resort and Spa, a listed firm in the stock market, to Sundarban Eco Resorts, according to a disclosure on the Dhaka Stock Exchange (DSE) on Wednesday (15 February).
Shamim Enterprise, a non-listed firm and the mother company of Sea Pearl Beach Resort, holds around 4.88 crore shares, or 40.40% of the company located in Cox's Bazar.
Sea Pearl got the stock market regulator's nod on 29 January to transfer the shares outside the trading system of exchange.
On 9 February, the company said, the share transfer was supposed to complete within 30 working days.
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Each share of Sea Pearl Beach Resort, which is known as Royal Tulip Sea Pearl Beach Resort, was traded at Tk277 on Wednesday.
According to sources, after transferring the shares of the company, the Sea Pearl Beach Resort may acquire Shamim Enterprise, which has been engaged in the construction business since 1984, for the expansion of its business nature.
When the Shamim Enterprise will be free after transferring shares, the Sea Pearl Beach Resort's management has the plan to acquire it, but the acquisition is yet to be finalized as there are many processes to complete, say sources.
Sea Pearl Sundarban Eco Resort operates a place for recreation purposes at Batiaghata in Khulna, where the company has planned to build a five-star hotel in the future.
Then, after receiving the shares, the Sundarban Eco Resort will sit on the board of the Sea Pearl Beach Resort and Spa as a sponsor.
Sea Pearl Resort got listed on the stock exchanges in 2019 by raising Tk15 crore from the stock market.
When the Covid-19 pandemic broke out in fiscal 2019-20, the company incurred a loss due to fewer guests in the hotel, as well as loan repayment.
Besides the hotel business, the Sea Pearl has started a new business to operate a passenger cruise ship tour package program based on the Khulna-Sundarban-Khulna route.
In fiscal 2021-22, the company reported a 44% growth in revenue from guests and a 119% growth in profit over the previous fiscal year.
The company will pay a 15% cash dividend only to general shareholders.
