Renwick Jajneswar & Co (Bd) has raised the carrying value of its assets to Tk1,258.37 crore from Tk29.97 crore after a board-approved revaluation, creating a surplus of Tk1,228.41 crore.
The company said in a Dhaka Stock Exchange (DSE) disclosure on Thursday that the surplus would be reflected in its financial statements, subject to auditor review and regulatory requirements.
Shafiq Basak & Co, Chartered Accountants, prepared the revaluation report.
The increase reflects higher assessed values for land, buildings and other assets rather than new cash coming into the business.
Renwick cautioned that the revaluation would not generate any immediate cash inflow and might not have a direct effect on its share price.
The stock nevertheless remained under pressure on Thursday, falling 5.22 per cent to close at Tk842.70 on the DSE. The shares have a face value of Tk10.
