International Leasing’s losses decrease in 2022
Scam-hit International Leasing and Financial Services Limited has reported a consolidated loss per share of Tk8.05 in 2022, which was Tk9.26 in the previous year.
Because of this loss, the company did not declare any dividend for 2022.
The company has fixed its annual general meeting (AGM) on 17 July this year. The record date is 26 June.
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Its net asset value per share stood at a negative Tk162.24 at the end of 2022. Its shares, having a face value of Tk10 each, have been stuck at floor price of Tk5.6 since September last year.
In September 2022, the company decided to offer ownership to its depositors and lenders.
The non-bank financial institution (NBFI), allegedly looted and devastated by PK Halder and his associates, owes around Tk4,300 crore to its depositors and lenders and is struggling to pay them back. It was to offer company shares against at least half of the liabilities, according to a company official.
It also appointed local merchant bank Sonar Bangla Capital Management as the corporate advisor and issue manager to actuate its revival roadmap.
In mid-2020, a high court-appointed board led by former bureaucrat Md Nazrul Islam Khan took over the NBFI to recover as much company assets as possible from defaulting clients.
The statutory auditor, in its 2021 report, raised the red flag and expressed doubt about the company's survival as it has a huge shortfall, funds stuck in bad loans, and the inability to pay back depositors and lenders.
