The New Nation - Internet Edition

BUSINESS REPORT

GSP Finance Company (Bangladesh) Limited held its 13th annual general meeting (AGM) at the registered office of the company in the city on Saturday. The company declared 5 per cent cash and 10 per cent bonus shares at the meeting for the shareholders for the year 2007.

The meeting was presided over by Mr Ramaswamy Soundararajan in absence of Mr Sutham Chansrichawla, chairman of the company.

Directors Feroz U Haider, M Nurul Islam, Gurdist Malhotra (representing GSP Finance, Hong Kong), Siraj U Haider and Moin U Haider and Managing Director (Incharge) Md Helal Uddin attended the AGM.

Feroz U Haider was elected chairman of the company in the subsequent board of directors' meeting. The shareholders thanked Mr Feroz and the staff of GSPB for their commitment and immense contribution to the success and growth of the company.

GSP Finance Company (Bangladesh) Ltd is a joint venture financial institution of Hong Kong, Thailand, Republic of Vanuatu and Bangladesh. Its foreign and local shareholding is 74.97 per cent and 25.03 per cent respectively and the total shareholders' equity of the company is Tk 480.00 million as on December 31, 2007.

Foreign shareholdings belong to institutions, eminent bankers and persons having big business houses in the Fareast and Southeast Asia.