Jamuna Group, one of the leading industrial conglomerates in the country, has decided not to invest in Evaly, a beleaguered e-commerce platform.
Mohammed Alamgir Alam, director, marketing, sales and operations at Jamuna Group, disclosed the group’s decision via a Facebook post on Friday.
Earlier on August 27, he said via another Facebook post Jamuna Group had not yet decided as to whether it would invest in Evaly.
Noting that auditing of Evaly was still on, he said since the audit report determining customer and supplier liabilities had not yet come to hand, Jamuna Group was not in a position to issue any statement about Evaly.
Mr Alam had, however, said Jamuna Group would reveal its “investment decision before the media in due time after receiving the audit report on Evaly.
Evaly on July 27 told the media that Jamuna Group would invest Tk 10 billion in it, and for now the amount would be Tk 2.0 billion, under an agreement they had reached with the industrial conglomerate the same day.
According to the commerce ministry, Evaly had Tk 5.43 billion in current liabilities, including Tk 3.11 in customer liabilities, until July 15 this year.
However, in its wealth statement, the e-commerce company claimed it has Tk 1.21 billion as assets, which could make up for 22.30 per cent of its debts.
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