JAT Holdings Limited, a company involved in finishing and furnishing, witnesses progress fuelled by the firm’s plan to begin its manufacturing operations in Bangladesh further boosting its presence in the country.
Following the recent Initial Public Offering (IPO), JAT Holdings is ahead of schedule to fulfil its near-term objectives, having already secured the premises and factory for manufacturing. The manufacturing facility is located at the proposed Savar Division of the Dhaka district, a central location for carrying out JAT’s business in Bangladesh.
The company has also made arrangements to ship equipment which is crucial for the manufacturing of fast-moving wood coatings. Thus, the revenue and subsequent results from manufacturing which was planned for Q1 2022 will be brought forward to Q3 2021 as wood coatings account for 70% of total revenue in Bangladesh, enabling an improvement in gross profit.
JAT has achieved its budgeted targets from Bangladesh for the first four months of the year amounting to Rs. 445 million.
This is largely due to the high market demand from specific industries and due to the brand loyalty for OEM in Bangladesh from reputed firms.