After assessing ledger on a sample basis, the DSE team found that Oimex had overstated sales by 66 per cent, inventory by 310.2 per cent and raw materials by 40.59 per cent. Oimex showed recognised sales of Tk 43.43 crore, inventory of Tk 28.36 crore and raw materials of Tk 21.77 crore for the year that ended on 30 June 2020. Suzzal Hossain Sajal, company secretary of Oimex Electrode, vehemently denied the allegation of falsifying financial reports. It logged in profit of Tk 3.3 crore in its 2019-20 financial year, down 65.5 per cent year-on-year. It announced a 5 per cent stock dividend for its last financial year, down from 12.5 per cent from a year earlier.

Source: Dhaka Tribune January 24, 2021 20:15 UTC