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]
 | |
| Company type | Public |
|---|---|
| DSE: MJLBD | |
| Industry | Fuel & Power |
| Founded | 1998 in Dhaka, Bangladesh |
| Headquarters | Mobil House, Gulshan Avenue, Dhaka , Bangladesh |
Area served | Bangladesh |
Key people | Azam J Chowdhury (Managing Director) |
| Products | |
| Revenue |  US$250 million (2019) |
| US$14 million (2019) | |
| Subsidiaries | |
| Website | mjlbl |
History
editMJL 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
editOmera Petroleum Limited
editOmera 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
editOmera Cylinders Limited manufactures cylinders and works as a backward integration company. [2]
MJL & AKT Petroleum Company Limited
editMJL & AKT Petroleum Company Limited is a joint venture between MJL Bangladesh Limited and AKT Petroleum Limited that markets Mobil lubricants in Myanmar. [11]
References
edit- ^ "Omera Petroleum Limited – East Coast Group".
- ^ a b c d "Equity Note on MJL Bangladesh Limited".
- ^ "Company Information: MJLBD". Dhaka Stock Exchange.
- ^ "Company Information – MJLBD". Chittagong Stock Exchange.
- ^ "Company profile: MJL dividends remain steady in three years". The Financial Express (Bangladesh). Retrieved 19 October 2020.
- ^ "Business Person of the Year". The Daily Star. 6 July 2019. Retrieved 19 October 2020.
- ^ "Omera Petroleum Ltd introduces 25kg LPG cylinder". The Daily Star. 7 May 2019. Retrieved 19 October 2020.
- ^ "Mobil Partners' Meet 2019 held in city". The Financial Express (Bangladesh). Retrieved 19 October 2020.
- ^ "MJL Bangladesh Limited". mobil.com. Retrieved 19 October 2020.
- ^ "About MJLBL". mjlbl.com. Retrieved 19 October 2020.
- ^ a b c "MJL Bangladesh forms joint venture in Myanmar". The Daily Star. 19 July 2013. Retrieved 19 October 2020.
- ^ "Eyes on record shares". The Daily Star. 26 November 2010. Retrieved 19 October 2020.
- ^ "Omera to get $20m from IFC". The Daily Star. 12 October 2018. Retrieved 19 October 2020.
- ^ "MJLBL okays 45pc cash dividend". The Daily Observer (Bangladesh). Retrieved 19 October 2020.
- ^ "MJL's profit rises 14.41pc in Q3". The Daily Star. 16 May 2018. Retrieved 19 October 2020.
- ^ "MJL Bangladesh sales drop for first time in 3 years". The Business Standard. 5 February 2020. Retrieved 19 October 2020.
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