AGM of IBN SINA Pharmaceutical Industry held

News Desk

The 38 th Annual General Meeting (AGM) of The IBN SINA Pharmaceutical Industry PLC is held on Sunday through Digital (Virtual) Platform. Janab Kazi Harun or Rashid Hon’ble Chairman of the Company presided over the meeting. A large number of Shareholders, Managing Director Prof. Dr. A. K. M Sadrul Islam including other Hon’ble Directors, Chairman Audit Committee, Chairman NRC, Statutory Auditors, Compliance Auditors, Independent Scrutinizer and Company Secretary also attended the virtual AGM. The meeting started at 9:30 am by recitation from the Holy Quran. The Directors’ Report, Auditors’ Report and Audited Financial Statements were presented in the AGM for the Financial Year, 2021-22.

The AGM approved 60% Cash Dividend after evaluating the financial report for the Year-2021-22 of the Company. Prof. Dr. A K M Sadrul Islam, Managing Director delivered his speech and also replied to the Hon’ble Shareholders’ various questions.

Mr. Kazi Harun or Rashid and Prof. Dr. AKM Sadrul Islam were re-elected as Director by rotation. For better management and to make ease of operation of natural medicine production and sustainable growth of the Company, the AGM approved the transfer of net asset of natural medicine division of the Company to the subsidiary Company “The IBN SINA Natural Medicine Ltd.” as a “Special Resolution”.

The Company had made a significant contribution in the year under review towards the National Exchequers by paying Tk. 1,78,95,84,826/- (One Hundred Seventy Eight Crore Ninety Five Lac Eighty Four Thousand Eight Hundred and Twenty Six) as Income Tax, VAT and other applicable Taxes.

As per Bangladesh Labour Laws, Company has transferred 5% of the profit i.e. Tk. 4,03,41,605/- (Four Crore Three Lac Forty One Thousand Six Hundred and Five) to the Workers’ Profit Participation Fund (WPPF).

The meeting was ended with a vote of thanks to and from the Chairman of the Company by praying for the blessings of the Almighty Allah to the human being at large.