News in brief

Agrani asked to return Al-Haj Textile's funds

The Appellate Division of the Supreme Court has directed Agrani Bank to return the money—Tk 55.83 crore—Al-Haj Textile Mills had deposited with the bank, bringing an end to a dispute over interest rates.

The court also ordered to ensure payment of Tk 25 crore by April 4. The textile firm went to the court, as Agrani had not been returning the money despite repeated calls from Al-Haj Textile.

VFS Thread uses up IPO proceeds

The VFS Thread Dyeing through the website of Dhaka Stock Exchange has informed that it has fully used the proceeds of its initial public offering to set up new machinery.

Last year, the company floated 2.2 crore ordinary shares and raised a capital worth Tk 22 crore. The company expects its annual sales revenue to cross Tk 135 crore thanks to the new machinery.

SK Trims to invest Tk 3.5cr in two firms

SK Trims & Industries has decided to invest Tk 3.5 crore in two unlisted companies -- Tk 2.5 crore in W&W Company, a pharmaceuticals packaging manufacturer, and Tk 1 crore in BEKA Garments & Textiles.

SK Trims has also informed through the DSE website that it has completed investing Tk 1 crore in Dominage Steel Building Systems.