Walton Hi-Tech Industries holds 19th AGM
Business Desk :
With the presence of large number of institutional and general shareholders, the 19th Annual General Meeting (AGM) of Walton Hi-Tech Industries PLC (WHILPLC), was held on Tuesday at Kurmitola Golf Club in Dhaka.
In the meeting, the general shareholders expressed their satisfaction and thanked the company’s board of directors for paying 175 per cent cash dividend amidst the country’s political instability and adverse business situation at home and abroad.
The 19th AGM was presided over by the company’s chairman SM Shamsul Alam while vice-chairman SM Ashraful Alam, managing director SM Mahbubul Alam, directors SM Nurul Alam Rezvi and SM Monjurul Alam Ovee, independent directors Samsul Alam Mallick, Professor M Sadiqul Islam, and Akhter Matin Chaudhury, were on the stage.
Company’s directors SM Rezaul Alam, Tahmina Afrose Tanna and Raisa Sigma Hima, and lots of general shareholders also joined the meeting virtually.
Company Secretary Md Rafiqul Islam moderated the meeting.
In his welcome speech, SM Shamsul Alam said: “The ‘Made in Bangladesh’ brand has been established on the global stage through innovation, skilled human resources and technology-based industrialization.
Walton’s products are now being exported to more than 50 countries, which is making a significant contribution to earning foreign currencies.
Walton is today one of the main driving forces of national development through sustainable growth, innovative research, environmentally friendly production and employment generation.”
Walton Hi-Tech’s Managing Director SM Mahbubul Alam presented the annual report for the financial year 2024-25 before the meeting and also highlighted the company’s future business plan and initiatives for the improvement in financial indicators.
Addressing the general shareholders, he said, 2024-25 was a very challenging year for us following global trade instability as well as internal
political instability.
However, Walton has successfully faced that challenge through timely strategic planning.
Along with controlling operating expenses in various sectors, Walton has been able to maintain its general business trend through market expansion at home and abroad.
As a result, the company’s profit in the last financial year was more than Tk1,000 crore.
Walton’s Managing Director said that as part of its extensive marketing and branding activities in the international market, Walton has become the regional official sponsor of the world champion Argentina Football Team.
As a result, Argentine’s star footballers including Messi and Martinez will be featured in the branding of Walton products around the world.
In the AGM, financial statement for the year 2024-25, Audit Report, Directors’ Report and retirement/re-appointment, 175per cent Cash Dividend and 10per cent Stock Dividend were unanimously approved.
In addition, the meeting approved the appointments of A Qasem & Co. Chartered Accountants as Statutory Auditors and Mohammad Sanaullah & Associates, Chartered Secretary & Consultant as Corporate Governance Compliance Auditors of the Company for the financial year 2025-2026 and also fixed their remuneration.