Stocks
BSEC Appoints New Independent Directors to DSE, CSE Boards
The Bangladesh Securities and Exchange Commission (BSEC) has appointed two new independent directors to the Dhaka Stock Exchange (DSE) board, following a dispute that prevented the previous appointees from assuming their positions. Additionally, seven independent directors have been appointed to the Chittagong Stock Exchange (CSE). These decisions were made during a commission meeting held on September 18, 2024.
According to a press release from BSEC, the newly appointed independent directors for the DSE are AF Nesaruddin, partner at Hoda Vasi Chowdhury and Co., and Syeda Zakeerin Bakht Nasir, chief consultant and CEO of Z N Consultants. They will replace KAM Majedur Rahman and Helal Uddin, who were unable to take up their roles due to concerns over their appointments violating board regulations. Both individuals have since declined their positions.
The seven independent directors appointed to the CSE are Alamgir Morshed, CEO of Infrastructure Development Company; Professor Saiful Islam from BUET; AKM Habibur Rahman, former managing director of Teletalk; Professor Mahmud Hassan from North South University; M Zulfiquar Hussain, CEO of Grow n Excel; Naznin Sultana, Finance Director at Asian University for Women; and Farida Yasmin, Deputy Secretary at the Financial Institutions Division.
This reshuffling follows a political shift in early August, after which the BSEC verbally requested all independent directors from both the DSE and CSE to resign. On September 1, the BSEC had already appointed seven independent directors to the DSE, though none have yet assumed their roles.
The DSE board, as per the demutualisation scheme, consists of 13 members: seven independent directors, five shareholder directors (one representing strategic investors), and the managing director, who serves as an ex-officio member.
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.
