Stocks
BSEC Launches IT Audit of DSE & CSE
The Bangladesh Securities and Exchange Commission (BSEC) has commenced an audit of the IT operations of the Dhaka and Chittagong stock exchanges. This initiative aims to evaluate the systems’ strengths, weaknesses, and potential threats, ensuring robust and effective services in securities trading.
A six-member inspection committee, formed in May, has begun its work, requesting detailed SWOT (strengths, weaknesses, opportunities, and threats) analyses and mitigation strategies from the stock exchanges. The committee’s focus includes data security, confidentiality, backup procedures, and log management.
Given the critical role of information technology in facilitating securities trading, this audit is particularly timely. The Dhaka Stock Exchange (DSE) has faced multiple technical glitches in recent years, prompting investigations that have yet to be publicly disclosed. Notably, in March, an operational error led to incorrect information being displayed for an entire trading session, leaving investors in the dark.
A BSEC official, speaking anonymously, emphasized that the regulator is committed to resolving these issues permanently. The commission will take appropriate measures if any deficiencies are identified.
Tasks of the Committee
The inspection committee will conduct comprehensive annual IT audits and partial audits focused on critical information handling. In case of any significant incidents that may affect trading or market operations, the committee will submit interim reports to the commission.
Sheikh Mahbub Ur Rahman, Director-General of BSEC, serves as the committee’s convener, with Md Yasin Rahman, Assistant Director of BSEC, acting as the secretary.
The committee’s responsibilities include auditing the IT infrastructure, data servers, and software handling issues of the exchanges. They are required to submit reports within 30 working days of the financial year’s end. Additionally, quarterly audits on critical information handling will be conducted, with reports due within 10 working days of each quarter’s end.
The audit scope encompasses compliance, physical and network security, data backup and recovery, hardware and software inventory, change management, environmental controls, access control, incident response, monitoring logging, vendor management, and other related issues.
This comprehensive IT audit aims to ensure the smooth operation and trading of securities, addressing any potential vulnerabilities in the exchanges’ IT systems.
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.
