Walton Hi-Tech Industries PLC has recorded profit growth during the period July-December of the current Financial Year 2023-24. The Bangladeshi electronics giant posted around 23 times or 2,270 percent higher profits during the July-December period of 2023, compared to the same period of the previous year, according to a press release. Walton Hi-Tech also witnessed substantial growth in major financial indicators, including Operating Profit Margin, Earnings Per Share (EPS), Net Asset Value Per Share (NAVPS) etc. during the first six months (July-December) of the current FY 2023-2024, it said. S Alam Group to import 12 lakh MT of daily essentials for Ramadan Such picture of the company's financial indicators was reflected in its Q2 un-audited Financial Statements for the period ended December 31, 2023. The report was published after reviewed and approved by the Company's Board of Directors in its 37th meeting held on Monday (January 22, 2024). According to the published report, Walton Hi-Tech posted Tk 340.35 crore profit during the period from July to December, 2023 as against the profits of Tk 14.36 crore in the same period of the previous year. In the Second Quarter (October-2023 to Decmber-2023), the profit of the Company was increased to Tk 138.28 crore as against of Tk 60.46 crore of the corresponding period of the previous year. Coca-Cola appoints Nahar Choudhury as first Bangladeshi managing director  The amount and percentage of finance costs during the period (July-2023 to December-2023) is significantly lower than the comparative period because of less impact of devaluation of taka against foreign currencies like Euro and USD. However, the company suffered foreign currency losses during the period of July 2023 to December of 2023 amounting to Tk 43.75 crore, which was Tk 336.10 crore in the corresponding period of the previous year. As a result, the Company's EPS for the period ended December 31, 2023 stood at Tk 11.24 as against of Tk 0.47 of the same period of the last year. As on December 31 of 2023, the Company's Net Asset Value Per Share (NAVPS) stood at Tk 244.26 without revaluation and Tk 345.75 with revaluation. In that period, the Company's Net Operating Cash Flows Per Share (NOCFPS) stood at Tk 27.16. During the period from July 2023 to December 2023, the percentage of finance costs was reduced significantly. In that period, the percentage of finance costs against sales was recorded at 7.51 percent, which was 18.15 percent in the same period of the previous year. FBCCI President invites Sri Lankan investors to invest in Bangladesh's SEZ At the end of the Second Quarter of current Financial Year (2023-2024), the Company's total Finance Costs were recorded at Tk 177.93 crore, which was Tk 469.33 crore in the same period of the previous year. As a result, the Company's Profit After Tax for the period ended December 31, 2023 stood at 14.37% as against of 0.56% of the same period of the previous year. However, the management of Walton Hi-Tech Industries PLC anticipated that the Company’s profits would be healthier in the next quarters of the current Financial Year.

A record number of 5,891 Bangladesh workers went to South Korea, a "popular, preferred" destination for them, in 2022. The "low and medium" skilled workers from Bangladesh were taken by the East Asian country last year through its Employment Permit System (EPS) programme, according to the Embassy of South Korea in Bangladesh. After almost one and a half years of suspension of admitting foreign EPS workers due to the Covid-19 pandemic, the South Korean government resumed taking them in December 2021. From 2008 to 2022, 28,697 Bangladesh workers were taken by South Korea through the EPS and it is expected that around 100 to 120 workers are to be taken by South Korea every week this year. REad: Bangladesh gets $10.49 billion inward remittances in July-December: Central Bank The East Asian country is a popular destination for Bangladeshi expats as they can earn a minimum of $1,420 monthly, the legally guaranteed minimum wage of South Korea, the Korean mission in Bangladesh said Monday.

South Korean Ambassador to Bangladesh Lee Jang-keun has said the future of Bangladesh-South Korea relations “looks very bright and it will get brighter” with diversified success stories with a significant one already created by Youngone. “We see the future of our relations very, very bright. The reason is very simple…,” said Ambassador Lee responding to a UNB question sitting beside Chairman and CEO of Youngone Kihak Sung at Korean EPZ. Also read: S Korean Ambassador-designate Lee in city The South Korean Ambassador noted that the shining accomplishment that Bangladesh has shown not only to its people but the entire world is something that offers many opportunities ahead. Both Sung and Ambassador Lee welcomed the members of Diplomatic Correspondents Association, Bangladesh (DCAB) at the KEPZ to show the facilities there. KEPZ President Jahangir Saadat was also present. Referring to South Korean Prime Minister Chung Sye-kyun’s recent remarks, the Korean envoy said his Prime Minister’s message captured all the elements of the bilateral relations and Korea’s assessment over the future of bilateral relations. "We'll be the most trusted friends to Bangladesh, ushering in a shining future together," Korean Prime Minister Chung recently said, mentioning that Bangladesh, with its remarkable economic development and rapid emergence in the heart of Asia, is echoing the miracle on the Han River, a major river in South Korea. He said the international community has been deeply impressed to see that Bangladesh, even in the midst of the Covid-19 pandemic when the world economy has slowed down, succeeded in achieving the greatest level of economic growth. Also read: Bangladesh, Korea to explore untapped potential “We’ve enjoyed an excellent relationship in the past decades. Our future relationship looks much better,” said Korean Ambassador Lee, adding that both Bangladesh and Korea achieved remarkable economic growth even during the Covid-19 pandemic. He said the KEPZ is a symbol of Korea-Bangladesh cooperation and relations and Youngone came here 40 years ago setting a shining example. Inspired by his love of nature and outdoor pursuits, Kihak Sung founded Youngone Corporation in 1974. “The relations between Korea and Bangladesh are very unique in many senses, especially in terms of the RMG sector it is very, very unique,” said the Ambassador. He said the Korean companies have grown up together with Bangladesh and the readymade garment or RMG is already the main industry of this country. Showing around the facilities at KEPZ, Youngone Chairman Sung said some Korean companies are very interested to come to this zone. “I’m pursuing them to come and contribute to the industrial development of Bangladesh.”   He said infrastructure in and around Chattogram is progressing very well. “I must say I’m very optimistic that we’ll be doing much better. We’re doing a very good job in bringing more investment.”