Savar Refractories’ liabilities surpass assets

2018-12-06

Dec. 4, 2018 - The liabilities of Savar Refractories have exceeded its assets, as the company has been incurring huge losses since 2013-14. 

As of June 30 this year, the company’s current asset stood at Tk 0.46 against Tk 1 liabilities, according to an audit report posted on the DSE website yesterday.

In the report, questions were also raised about the company’s ability to continue running as a going concern as the firm was able to utilise only 42.28 percent of its production capacity.