Stocks
BSEC Chairman Invites German Investors to Fuel Bangladesh’s Economic Growth
In a recent development, Professor Shibli Rubayat-Ul-Islam, the Chairman of the Bangladesh Securities and Exchange Commission (BSEC), has extended an invitation to German investors and businesses to participate in Bangladesh’s journey towards economic development. This call was made during the “Investment Flash Mob: Networking Launch” event held at the ‘J.W. Marriott Hotel Frankfurt’ in Frankfurt, Germany on Wednesday, November 1, 2023. The event was organized jointly by BSEC and the Bangladesh Investment Development Authority (BIDA).
In pursuit of attracting global investors and promoting investment opportunities in Bangladesh, the ‘Bangladesh Investment Summit’ is being organized consecutively in various countries around the world. The most recent summit took place in Frankfurt, Germany, with the primary agenda being the expansion of trade and commerce and encouraging German investors and businesspersons to consider Bangladesh as an attractive, accessible, and profitable destination for foreign investments.
The event in Frankfurt commenced at 10:00 AM local time, with opening remarks from Md. Nojibur Rahman, Chairman of the Capital Market Stabilization Fund (CMSF) and former Chief Secretary to the Prime Minister. After the welcoming speech, an audio-visual presentation highlighted Bangladesh’s economic development. During the event, Professor Shibli Rubayat-Ul-Islam, Chairman of the Bangladesh Securities and Exchange Commission (BSEC), presented a talk titled ‘Fifty Years of Bangladesh: The Rise of the Bengal Tiger,’ emphasizing the long-standing bilateral relations between Bangladesh and Germany, commercial ties, and mutual cooperation. He also highlighted Bangladesh’s position as Europe’s largest trading partner.
Furthermore, Professor Shibli Rubayat-Ul-Islam praised the notable achievements of German companies, German NGOs, and institutions in Bangladesh and commended Bangladesh’s strategic position in South Asia. He underscored the potential and opportunities for investment in Bangladesh, advocating for Germany to take an active part in Bangladesh’s developmental journey.
In the context of recent global economic indicators, such as high GDP growth, poverty reduction, declining child mortality, increased food production, female participation in the workforce, expanding domestic markets, demographic dividend, skilled labor force, and political stability, the Chairman of BSEC painted a positive picture of Bangladesh’s economic growth and its various facets. He also emphasized that over the past 15 years, Bangladesh had transformed its economy from a $70 billion to a $465 billion one.
Moreover, he encouraged German investors to explore business expansion and investment in various promising sectors of Bangladesh, and he called upon them to play a significant role in the socioeconomic development of Bangladesh.
At the event, speeches were delivered by Shaikh Yusuf Harun, the Executive Chairman of the Bangladesh Economic Zones Authority (BEZA), and Martin Geskes, the Managing Director of Planquadrat GMbH, as well as Lokman Hossen Mia, the Executive Chairman of the Bangladesh Investment Development Authority (BIDA). In addition, Mokammel Hossen, the Secretary of the Ministry of Civil Aviation and Tourism, Hanns Christoph Siebold, Vice President of the Frankfurt Chamber of Commerce and Industry, and Ali Reza Majid, a member of the Board of Investment Promotion Zone Authority (BEPZA) and Additional Secretary, also spoke at the event. The event featured a question-and-answer session based on the opinions and questions of the attendees.
This successful event in Frankfurt, Germany is expected to boost the participation of foreign and expatriate investors in Bangladesh’s capital markets, leading to a substantial influx of foreign investments into Bangladesh, according to experts present, who expressed optimism about the outcomes.
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.
