Industry

Walton opening branches in 6 countries

The Walton Hi-Tech Industries Ltd has decided to open branches or liaison offices in six countries, including India, Nepal, the UAE and South Korea, for market expansion and technology sourcing.

The company has also decided to apply for the enhancement of foreign currency limit to operate the proposed Foreign Branches/Liaison Offices subject to approval of Bangladesh Bank, Walton said in a statement.

According to Dhaka Stock Exchange data on Monday, Walton shares went up 1.61 percent to Tk 1,269 till noon.

The Board of Directors also has decided to invest US$500,000 in Walton Corporation United States of America to purchase ordinary shares and preferential shares subject to approval of Bangladesh Bank and other relevant regulators.

The mentioned company will provide imports, exports and procurement services in North America.

The company sources said its profit increased 34 percent year-on-year to Tk 34.14 a share in July-March period of the 2020-21 financial year.

Source: United News of Bangladesh