Miracle Industries Limited Explained

Miracle Industries Limited
Formation:1995
Headquarters:Dhaka, Bangladesh
Region Served:Bangladesh
Language:Bengali

Miracle Industries Limited is a Bangladesh government owned company that manufactures plastic packaging.

History

Miracle Industries Limited was established in 1995 as a joint venture company by the state owned Bangladesh Chemical Industries Corporation. The company is listed in the Dhaka Stock Exchange.[1] In 2005, the 11th annual general meeting Miracle Industries Limited announced 12.5 percent dividends for its shareholders.[2] In November 2010, Bangladesh Securities and Exchange Commission temporarily halted trading of the company shares for unexpected price hike.[3]

The company listed in Dhaka Stock Exchange and Chittagong Stock Exchange in 2000. In December 2019, Bangladesh Chemical Industries Corporation disputed financial filing of Miracle Industries Limited and asked Bangladesh Securities and Exchange Commission to investigate. Bangladesh Chemical Industries Corporation owns 20 percent of the shares.[4] The same month the factory was closed temporarily due to a shortage of working capital.[5]

In October 2020, for directors of the company announced plans to sell their shares to Mehmood Equities Ltd.[6]

Notes and References

  1. Web site: Miracle . miracle.com.bd . 25 October 2020.
  2. News: Miracle Industries okays 12.5pc dividend . 25 October 2020 . archive.thedailystar.net . The Daily Star.
  3. News: SEC lifts suspension of 14 companies . 25 October 2020 . bdnews24.com.
  4. News: BCIC disputes Q1 financial report of Miracle Industries . 25 October 2020 . The Financial Express . en.
  5. News: Miracle closed, shares halted . 25 October 2020 . Dhaka Tribune . 3 December 2019.
  6. News: Four directors intend to leave Miracle Industries . 25 October 2020 . The Business Standard . 8 September 2020 . en.