Fu Wang Foods Limited’s factory in Gazipur and office premises in Banani, Dhaka, are set to be auctioned by Dhaka Bank PLC following the company’s failure to repay loans amounting to Tk17.79 crore.
The auction notice, issued by Dhaka Bank’s Banani branch on October 8, reveals that the pledged properties include the office building’s total floor area of 7,679.95 square feet, along with proportionate land ownership. The office building is located on a 2 Katha plot at 55 Kamal Ataturk Avenue in Banani, with seven out of the ten floors up for auction.
The second property, situated in Gazipur Sadar’s Bokran Monipur area, spans 41 decimals and was used as the company’s factory premises. Both existing and under-construction structures will be included in the auction, Dhaka Bank confirmed.
Bidders must submit sealed bids by 4:00 PM on October 30, 2025.
Fu-Wang Foods Company Secretary Mohammad Zaman told TIMES of Bangladesh that he was unaware of any such notice. None of the publicly traded company’s current board members responded to phone calls for comment.
Fu-Wang Foods was established by Taiwanese entrepreneurs and went public in *.
The company has faced long-standing mismanagement and accounting irregularities, which persisted despite board restructuring by the securities regulator.
Meanwhile, the company’s workers have been on strike since October 12 due to three months of unpaid arrears. Additionally, Titas Gas Transmission and Distribution Company disconnected its gas line on October 14 for unpaid bills.
Fu-Wang Foods shares closed 1.61% lower at Tk12.2 per share on the Dhaka Stock Exchange on Tuesday.
