Dhaka, Friday


29 March 2024


Business Insider Bangladesh

Not closed but production on limited scale: Yeakin Polymer

BI Report || BusinessInsider

Published: 20:36, 23 January 2022  
Not closed but production on limited scale: Yeakin Polymer

Yeakin Polymer Limited logo

Yeakin Polymer Limited (YPL), a listed company in the Dhaka Stock Exchange (DSE), has said the company is not closed but operating on a limited scale.

The company said this in response to a query by the DSE on Sunday.

The DSE had queried the company regarding a news report titled "Yeakin Polymer out of production for 2 years but investors in the dark".

YPL in its reply admitted that the company has been facing a working capital crisis in the last four years, however, they are trying hard to resolve their working capital crisis as soon as possible.

“Now business is returning slowly to normal. We are trying to enhance the working capital limit with Islami Bank Bangladesh Limited and also with other banks/financial institutions, and hope that we will be able to overcome the current position within the shortest possible time," YPL said.

“From 2020, the company is trying to resolve its crisis through Islami Bank and other financial institutions but Covid-19 has been affected seriously in the entire sector of the world, Yeakin Polymer Limited is not out of this disaster. That’s why the process stopped,” it said.

The Company lost one of their directors and two workers due to the pandemic in March-June 2021.

Nagad
Walton