The challenges notwithstanding BML has registered tremendous progress, the net worth has progressed from UGX 1.4B in 2016 to close to 3B (see chart) and we have drastically reduced our liabilities URA from an assessment of 1.9B to now 9M, NSSF 448M to 31M, Gratuity 80M to 8M, paid off service providers, paid off MSC loans, paid off salary arrears, constructed new warehouse and expanded the old one, paved over 3000SQMs of the yard, refurbished the gate area etc.
Net worth
SQMs of ICD yard
Year of Incorporation
It was unanimously agreed by members of the Board that the two units/businesses be separated and run as two different companies with an umbrella body (a Holding company) overseeing their operations and those of any other company that may subsequently be created by the current shareholders of BML, though carrying on a different trade.
BML, therefore, plans to restructure and register a holding company that will own subsidiary companies. BML will remain to stand and attract a strategic investment partner, and ICD will be registered as a separate company as well.
Milling
ICD
Logistics
BML has once again rejuvenated the plan to establish a radio station and go into Real Estate, Logistics, Clearing and Forwarding.
BML is seeking 1B from the Centenary Bank and the purpose of the funds is to invest and revamp the Milling Division, improve the yard, expand warehousing facilities, acquire ICD equipment and acquire land for the ICD expansion.
We have also engaged UDB as our partner, especially for the Milling Division, once our proposal/application is granted, BML will realize huge investments in an agro-processing facility (silos, graders, dryers, cleaning equipment, etc).