The auditor of Zeal Bangla Sugar Mills, a state-owned entity listed with the stock market, has expressed doubt over the future of the company due to an accumulated losses amounting to Tk 138.80 crore and due to higher production cost than the selling price of sugar.
Malek Siddiqui Wali, the auditor of the company, in its observation said, ‘Due to increase of bank loan liabilities, bank interest and huge accumulated loss it appears that the company is in the going concern threat.’
The government support may help the mill survive or continue as a ‘going concern,’ it said.
‘Cost of production per metric ton (tonne of sugar] is Tk 51,450 but selling price per metric ton is Tk 40,000, the selling price is Tk 11,450 less than selling price per metric ton,’ the auditor said.
Meanwhile, the auditor of Jamuna Oil Company Limited, it its opinion over the entity’s financial statement for the year ended on June 30 this year, said no provision was made against the uncertain recove
-With New Age input
