Berger Paints Bangladesh Limited, a baton in the country’s acrylic industry, has now absitively to advance in the advice and technology (IT) business as a abeyant sector.
For this, the bunch aggregation will anatomy a accessory aggregation called “Berger Tech Consulting Limited”, which will be 100% endemic by Berger Paints.
Initially, Tk25 lakh will be invested to accessible the accessory company. This will added adorn Berger Paints’ adapted portfolio, according to a chief controlling at the company.
The Berger Paints official, speaking on action of anonymity, said Berger Paints’ IT aggregation was auspiciously acknowledging the company’s business. There are three added companies beneath Berger Paints that are additionally actuality accustomed IT abutment by this team.
“The lath thinks that IT business can be done with this team. But if this business is done beneath the painting company, it will not get a acceptable response. So it was absitively to accept a abstracted company,” he added.
Another Berger official said the government was alms assorted benefits, including tax incentives, for businesses in the IT sector. Moreover, this area has huge abeyant in the country.
Berger Paints’ portfolio currently includes containers, press metal sheets, braid coatings and architecture chemicals. These businesses are actuality run beneath three abstracted companies.
According to sources, Berger Paints acquired a software licence in 2009 from the German-based software close SAP SE. Using this software, the aggregation is additionally accouterment IT casework to its three associates.
In addition, Berger Paints, authorised by SAP SE, has the befalling to accommodate IT casework to added companies in the country. Now the aggregation wants to booty advantage of this opportunity, they added.
In the banking year 2021-22 which concluded on 31 March, its circumscribed net accumulation added 9% to Tk290 crore compared to the antecedent banking year admitting the abbreviating bread-and-butter burden due to business amount hikes.
It additionally recommended a 400% banknote allotment for that banking year, which was the accomplished in the aftermost bristles years.
Berger Paints official said the aggregation could not accomplish double-digit accumulation advance but the lath was about annoyed with the about-face growth.
Meanwhile, in September aftermost year, the Bangladesh Securities and Exchange Commission (BSEC) directed Berger Paints to ensure the offloading of 10% shares in the banal bazaar by 2022. Currently, 5% of the company’s shares are offloaded on the banal market.
In addition, in the account for the 2022-23 banking year, it has been proposed to access the accumulated tax of those companies which accept beneath than 10% offloaded shares to 25% instead of 20%.
In this regard, the aggregation official said that Berger Paints will accede with the BSEC guidelines aural the assured time.
Each allotment of the aggregation had a closing amount of Tk1,716 on the Dhaka Banal Exchange on Sunday.
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