The audit firm will work on Ring Shine’s financial statementsThe Bangladesh Securities and Exchange Commission (BSEC) on Tuesday appointed Hoda Vasi Chowdhury & Co. to conduct an audit into the books of Ring Shine Textiles to get a handle on the elusive company’s financial health. Ring Shine could not be reached for comment. Then in February, a key sponsor offloaded: Universe Knitting Garments, whose owner Sung Wey Min is the sponsor and MD of Ring Shine Textile, sold 36.9 lakh shares. When Universe Knitting offloaded the Ring Shine shares, the stock price was languishing at around Tk 8, which is less than the face value. Shares of Ring Shine closed at Tk 6.40 on Tuesday at the Dhaka bourse.

Source: Dhaka Tribune January 05, 2021 17:26 UTC