Generation Next Fashions Limited (GNFL) was incorporated in Bangladesh on 19 August 2004 under the Companies Act 1994 with an authorized capital of BDT 500.00 million and a paid up capital of BDT 47.20 million to carry out business of spinning, weaving and manufacturing of various types of readymade garments of international standard and design.
At present, the paid up capital of the Company is BDT 4500.00 million and the authorized capital is BDT 5000.00 million. GNFL is a 100% export oriented textile and apparel manufacturing company which started its commercial operation on 30 July 2006.
I deem it to be an exclusive privilege for me to welcome all of you to the 19th Annual General Meeting of Generation Next Fashions Limited. With great pleasure, we have already submit-ted before you the
operational activities and the Annual Financial Statements for the year ending 30 June 2023 duly approved by the Board of Directors.
Business Climate: The fallout of global pandemic Covid-19 is still affecting the world economy. This has been further affected by the on-going Russia-Ukraine war.
On top of these, the Israil-Palestine war has come as a big blow to the international business/trade.
The worst affected sector has been the apparels sector, resulting the closure of many factories and trading houses.