Vol. 4 Num 218 Mon. January 05, 2004  
Front Page

The management of Highspeed Group has clarified its position on a report carried by The Daily Star on December 4 last year under the headline "Trading of 16 companies suspended at Dhaka Stock Exchange".

The group claimed that it had no company named as 'Highspeed Ship', adding: "We have 16 companies which are all private limited ones and enjoy excellent financial credibility with all our financial institutions."

"We have no outstanding/liability or default of any nature whatsoever. The CIB report of Bangladesh Bank on our Group is positive," it added.

It said its Highspeed Shipbuilding (HSHEC) was a public limited that had no floor share trade for many years at Dhaka Stock Exchange. "In fact, we the sponsors and directors hold more than 99.93 percent share of this company," it said.

Our reply: The Daily Star story was based on an order issued by the Securities and Exchange Commission (SEC) that mentioned the High Speed Ship Building and Heavy Engineering Ltd (HSHEC).