Stocks
Bangladesh Pitches Investment Opportunities to the French Market
The Chairman of the Bangladesh Securities and Exchange Commission (BSEC), Professor Shibli Rubayat-Ul-Islam, has revealed that France is actively seeking to become a partner with Bangladesh in a significant business venture. He emphasized that France is a substantial market globally, and having accurate information about Bangladesh is crucial. In the past, France lacked accurate data and insights about Bangladesh, but that is changing. Now, France is well-informed and understands the potential of Bangladesh. Consequently, they are considering Bangladesh as a valuable partner. Previously, they provided aid and had a Bangladesh Donor Club in Paris, but the focus has shifted. Instead of seeking assistance, Bangladesh is now looking for investment opportunities.
On Monday, October 23, “The Rise of Bengal Tiger: Bangladesh-France Trade and Investment Summit 2023” was held in the French capital, Paris. The event was jointly organized by the Bangladesh Securities and Exchange Commission (BSEC) and the Bangladesh Investment Development Authority (BIDA), with the cooperation of the Ministry of Foreign Affairs and the respective embassies of both nations.
The occasion featured the presence of Dr. Hasan Mahmud, the Minister of Information, and Salman F. Rahman, the Prime Minister’s Adviser for Private Industry and Investment. It was graced by special guests including Khondker M. Talha, the Bangladeshi Ambassador to UNESCO, and Ms. Marie Masdupuy, the French Ambassador to Bangladesh. The event also included a video presentation by Professor Shibli Rubayat-Ul-Islam, the Chairman of the Bangladesh Securities and Exchange Commission (BSEC).
The Chairman of the Bangladesh Securities and Exchange Commission (BSEC) highlighted the historical friendship between Bangladesh and France, tracing it back to the establishment of diplomatic relations on February 14, 1972. He noted that the Bangladesh Embassy in Paris was inaugurated on March 17, 1972, on the occasion of the birthday of the Father of the Nation of Bangladesh. Discussing Bangladesh’s foreign policy, he emphasized the country’s commitment to maintaining friendly relations with all nations, without harboring any enmity.
Furthermore, the Chairman emphasized the significant trade ties between the two countries, particularly in the export of various products from Bangladesh to France. These products include garments, accessories, bags, shoes, and processed fish, showcasing the diversity and potential of trade between Bangladesh and France. The remarks underscored the strong foundation of bilateral relations and the promising economic collaborations between the two nations.
The Ambassador of France to Bangladesh, Marie Masdupuy, has expressed France’s interest in exploring investment opportunities in various sectors in Bangladesh. This declaration comes on the heels of a recent visit by French President Emmanuel Macron to Bangladesh, during which both nations engaged in discussions on matters of mutual economic interest.
Pierre-Jean Malgouyres, President of the France-Bangladesh Business Council, announced plans for a business delegation to visit Bangladesh in February or March 2024, with the aim of assessing investment prospects in the country. The delegation will evaluate the existing conditions and potential for investments in various sectors.
The Director-General of the Bangladesh Securities and Exchange Commission (BSEC), Md. Mahbubul Alam emphasized Bangladesh’s economic potential and progress over the past decade. He noted significant advancements in the country’s economic and social sectors, with remarkable infrastructural development. The cost-effective labor force and investment-friendly climate in Bangladesh provide lucrative opportunities for foreign investors. However, Bangladesh’s Securities and Exchange Commission (BSEC) and the Bangladesh Investment Development Authority (BIDA) have organized investment promotion events and roadshows in three European countries to attract foreign investors to explore the potential that Bangladesh offers.
Furthermore, the Chairman added that in the past decade, Bangladesh has made remarkable progress in its economy. It has been on an upward trajectory in all key indicators. However, the opportunities and potential of our economy have not been adequately conveyed to potential foreign investors. This has hindered substantial foreign investments from flowing into the country. Thus, initiatives like investment promotion events and roadshows will play a crucial role in attracting foreign investments.
He further emphasized that Bangladesh offers various incentives for investment, developmental initiatives, an investment-friendly government policy,overall economic situation and FDI were presented to the guests. In particular, how expatriates and foreign investors can directly invest in the stock market, its strategy and overall security are informed.
Istaq Simul, Managing Director of 3i Asset Management Limited, lauded the successful organization of the business summit in Paris by BSEC and BIDA. He expressed hope that this event will substantially boost French investments in Bangladesh, particularly in the stock market and various other sectors. These developments mark a significant step towards strengthening economic collaboration between Bangladesh and France.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
