Quasem Industries to set up cardiac hospital, launch new products
The company will also build its own commercial building and introduce new products in the market
Apart from expanding its regular business, battery manufacturing company Quasem Industries Limited is also considering setting up a specialised cardiac hospital.
The company will also build its own commercial building and introduce new products in the market.
However, it has not been fixed as of yet how much they will invest in the construction of the new building and the hospital.
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Speaking to The Business Standard, Md Zakaria, chief financial officer of Quasem Industries, said they had discussed about the construction of a modern cardiac hospital on their own land in Dhaka, at the company's board meeting on Tuesday.
Director of Quasem Industry Dr Reyan Anis Islam is a cardiologist and the hospital will be set up to fulfil her wish, Zakaria said. Dr Reyan is the wife of Tasvir Ul Islam, managing director of Quasem Industries.
"They have also decided to manufacture new products with the intention to expand the company's business," he also said.
The company is most famous for selling Sunlite batteries and electronics, produced by it. It also sells air fresheners and deodorants, under the brand name Wave, in the market.
Quasem Industries will soon start manufacturing Wave aerosol and shaving foam in its own factory. It will also open a new manufacturing facility beside its factory unit-1. "They will invest Tk4 crore in those projects," Zakaria added.
In the fiscal year 2018-19, the company proposed 7 percent stock dividend and 5 percent cash dividend for the shareholders of the company. The company will hold its annual general meeting on December 12 this year.
In the last fiscal year, Quasem Industries made net profit of Tk5 crore and its earnings per share (EPS) stood at Tk0.83. During the 2017-18 fiscal, its EPS stood at Tk1.35.
The paid-up capital of the company, which enlisted with the capital market in 1989, is Tk59 crore.
During the closing of Wednesday's trading session at the Dhaka Stock Exchange, Quasem Industries' share price stood at Tk27.30.
In the last one year, the highest price of the company's share reached Tk58.20, while the lowest price was Tk24.
