The 11th annual general meeting of BSRM Steels was held at Chittagong Club on Tuesday.
BSRM chairman Alihussain Akberali, managing director Aameir Alihussain, directors Zohair Taherali, Tehseen Zohair Taherali and Sabeen Aameir and independent director
Mono Ranjan Dey were also present on the occasion.Alihussain revealed at the AGM that the company had earned Tk 865.33 million net profit in 2012, which was higher than the previous year. BSRM was going to set up a new billet making plant with 8,60,000 tonnes annual production capacity in order to secure supply of basic raw materials for MS rod production.
The billet making plant would go into commercial production by 2014. All agendas of the meeting, including awarding 10 per cent cash dividend and 5 per cent bonus dividend, were approved by the shareholders. Appointment of independent director and managing director was also confirmed.
-With New Age input
