WMSHIPYARD Government Decision - Share market analysis of dhaka stock exchange, Bangladesh
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13 February, 2018 04:03 PM Source: Dhaka Stock Exchange

The Company replied that as on today, Western Marine Shipyard Limited did not reschedule any existing loan after issuance of the letter. The company also informed that it is difficult to quantify the financial impact at this time.

The Company has informed that the Ministry of Finance, through letter ref: 53.00.0000.331.36.007.18-40 dated 08 February 2018 has advised Bangladesh Bank to take necessary actions within 30 March 2018, for reduction of the interest rate of borrowed capital investment of export oriented shipbuilders of the country. According to the letter, on the basis of applications of shipbuilders, the banks and financial institutions will allow 3 (three) years moratorium period on the principal and nterest of the loans as on 31 December 2017 without any down payment and to repay the loan and interest in quarterly installments over 10 (ten) years through creating block accounts. In this regard, DSE has already made a query to the Company asking the final status of reschedule of the existing loans by their lending banks and its subsequent financial impact on profitability of the company.

 

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