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MJL Bangladesh Limited

MJL Bangladesh PLC
Company typePublic
DSE: MJLBD
IndustryFuel & Power
Founded1998 (1998) in Dhaka, Bangladesh
HeadquartersMobil House, Gulshan Avenue,
Dhaka
,
Bangladesh
Area served
Bangladesh
Key people
Azam J Chowdhury (Managing Director)
Products
RevenueIncreaseUS$250 million (2019)
IncreaseUS$14 million (2019)
Subsidiaries
  • Omera Petroleum Limited [1]
  • Omera LPG
  • Omera Cylinders Limited [2]
  • MJL & AKT Petroleum Company Limited [2]
Websitemjlbl.com

MJL Bangladesh PLC (Bengali: এমজেএল বাংলাদেশ লিমিটেড) (DSE: MJLBD,[3] CSE: MJLBD[4]) widely known as Mobil Bangladesh, formerly known as Mobil Jamuna Lubricants Limited, is a company that is jointly owned by Jamuna Oil Company, a subsidiary of government-owned Bangladesh Petroleum Corporation and EC Securities Limited, a subsidiary of East Coast Group.[5] Azam J Chowdhury is the Managing Director of the MJL Bangladesh Limited.[6] M. Mukul Hossain is the Chief Executive Officer of the company.[7] It markets products of ExxonMobil as the strategic alliance partner of the company in Bangladesh.[8][9]

History

MJL Bangladesh Limited was established as Mobil Jamuna Lubricants Limited in 1998 by Jamuna Oil Company, a subsidiary of the state owned Bangladesh Petroleum Corporation and Mobil Corporation. The company was founded at the initiative of Mobil. In 2003, a Lube Oil Blending Plant was established by the company; which was the first lube oil factory in Bangladesh. The base oil to blend lubricant products in the factory comes directly from ExxonMobil.[10] ExxonMobil disinvested from the company in 2003 that made EC Securities Limited the largest shareholder of the company.[11]

In 2010, MJL Bangladesh Limited entered into the stock market by issuing IPO worth 4.60 billion taka on Dhaka Stock Exchange; setting a record for the second largest IPO in Bangladesh.[12]

In 2013, MJL Bangladesh Limited signed an agreement with AKT Petroleum Ltd to launch a joint venture in Myanmar to market Mobil branded lubricant's in the country.[11] The company owns Omera LPG which sells liquefied petroleum gas for domestic consumption.[13] In 2017, the company gave 45 percent cash dividend to its shareholders. It's profit in 2017 was 1.9 billion taka.[14] In 2018, profits rose by 14 percent for the company.[15]

In 2020, sales of the company declined for the first time in three years.[16]

Subsidiaries

Omera Petroleum Limited

Omera Petroleum Limited is a subsidiary of MJL Bangladesh Limited. Omera Petroleum Limited manufactures and distributes liquefied petroleum gas (LPG) in Bangladesh. [2]

Omera Cylinders Limited

Omera Cylinders Limited manufactures cylinders and works as a backward integration company. [2]

MJL & AKT Petroleum Company Limited

MJL & AKT Petroleum Company Limited is a joint venture between MJL Bangladesh Limited and AKT Petroleum Limited that markets Mobil lubricants in Myanmar. [11]

References

  1. ^ "Omera Petroleum Limited – East Coast Group".
  2. ^ a b c d "Equity Note on MJL Bangladesh Limited".
  3. ^ "Company Information: MJLBD". Dhaka Stock Exchange.
  4. ^ "Company Information – MJLBD". Chittagong Stock Exchange.
  5. ^ "Company profile: MJL dividends remain steady in three years". The Financial Express (Bangladesh). Retrieved 19 October 2020.
  6. ^ "Business Person of the Year". The Daily Star. 6 July 2019. Retrieved 19 October 2020.
  7. ^ "Omera Petroleum Ltd introduces 25kg LPG cylinder". The Daily Star. 7 May 2019. Retrieved 19 October 2020.
  8. ^ "Mobil Partners' Meet 2019 held in city". The Financial Express (Bangladesh). Retrieved 19 October 2020.
  9. ^ "MJL Bangladesh Limited". mobil.com. Retrieved 19 October 2020.
  10. ^ "About MJLBL". mjlbl.com. Retrieved 19 October 2020.
  11. ^ a b c "MJL Bangladesh forms joint venture in Myanmar". The Daily Star. 19 July 2013. Retrieved 19 October 2020.
  12. ^ "Eyes on record shares". The Daily Star. 26 November 2010. Retrieved 19 October 2020.
  13. ^ "Omera to get $20m from IFC". The Daily Star. 12 October 2018. Retrieved 19 October 2020.
  14. ^ "MJLBL okays 45pc cash dividend". The Daily Observer (Bangladesh). Retrieved 19 October 2020.
  15. ^ "MJL's profit rises 14.41pc in Q3". The Daily Star. 16 May 2018. Retrieved 19 October 2020.
  16. ^ "MJL Bangladesh sales drop for first time in 3 years". The Business Standard. 5 February 2020. Retrieved 19 October 2020.
Quelle: http://en.wikipedia.org/wiki/MJLBL