National Polymer to form new subsidiary

National Polymer Ltd, a publicly traded company has decided to form a subsidiary to operate export-import operations.

Namely as Npoly Trading Ltd, the new subsidiary would run import, export and trading of all permissible goods as per the memorandum of association, subject to the regulatory approvals.

National Polymer Company Secretary Abdul Maleque told The Business Post that once the subsidiary starts its operations, all of their import and export activities would be conducted through it which previously had been managed through third parties.

According to a disclosure posted with the DSE on Monday, the new subsidiary company would have an authorised capital of Tk 10 Crore while its paid up capital would be Tk 10 lakh.

Recently, the company released its first quarterly (July–September) report of the fiscal year 2022-23.

Its earnings per share (EPS) stood at Tk 0.03 for July–September of FY23 against Tk 0.56 for the same period of the last fiscal.