The number of listed companies with suspended production in Bangladesh’s capital market has risen to 35, following the latest shutdown of S Alam Cold Rolled Steels Limited, according to the Dhaka Stock Exchange (DSE).
According to DSE data, the company has remained out of production since August 1. In a disclosure, S Alam Cold Rolled Steels stated that it has been unable to continue operations due to unforeseen circumstances beyond its control.
The company reported that its bank accounts were frozen without prior notice after August 5, 2024. At the same time, lending banks imposed restrictions on opening letters of credit (LCs), significantly disrupting the import of essential raw materials and chemicals required for production. In addition, a substantial number of skilled workers left their jobs, creating a severe workforce shortage. These combined challenges ultimately forced the company to suspend its factory operations.
Despite the shutdown, the company said efforts are underway to resolve the issues and resume production. It also warned that prolonged delays in restarting operations could have a significant negative impact on its financial condition.
With the inclusion of S Alam Cold Rolled Steels Limited, the total number of inactive or non-operational companies listed on the DSE has now reached 35. Sources at the exchange noted that while some companies have formally disclosed operational difficulties, others have not reported closures. In several cases, DSE inspections found factories already shut down.
Most of these companies ceased production between 2020 and 2026, although a few have remained inactive for much longer. Meghna PET Industries is the longest non-operational listed company, having remained closed since 2002. Bangladesh Welding Electrodes has also been out of production since 2016.
The list of closed companies spans multiple sectors, including steel, textiles, power, cement, engineering, ceramics, food processing, and chemicals. Prior to S Alam Cold Rolled Steels, two other companies from the same group—Active Fine Chemicals and AFC Agro Biotech—were added to the list.
According to DSE data, a total of 360 companies are currently listed on the exchange. Among them, 160 are in the ‘A’ category, 74 in the ‘B’ category, and 126 in the ‘Z’ category. A large portion of the non-operational firms fall under the ‘Z’ category, which typically includes companies that have failed to comply with listing regulations or are not in regular operation.
