Stocks
BMBA: If taxation difference increase, good firms likely to come to capital market
BMBA: Bangladesh Merchant Bankers Association President Shahedur Rahman said that good firms will likely come to the stock market if the tax rate of the listed and non-list companies increases.
He briefed this at an exchange meeting on Tuesday (December 13) in the Dhaka city hotel. The BMBA and the Capital Market Journalist Forum (CMJF) jointly organized the meeting.
“We have policy problems in our capital market,” said the BMBA President. The amount of tax rates of listed and non-list companies is much lower. There are many reasons for not listed in a company. A company is listed a lot when enrolling, there is no such thing as important to them. If this difference increases, good companies will be interested in investing in the market.
He said investors were investing as seeing among which company had given good dividends before. Now it doesn’t. This kind of attitude will not be possible to mobilize the market.
President Shahedur Rahman said journalists played a role in policy-making in the stock market. “We have proposed to solve the problem of the market,” he said. You (journalists) wrote. Later the government solved the problem.
Regarding the rumors in the market, he said, there are many propaganda in our market. As the Prime Minister has said that investors have assumed that the famine of 2021 has begun. He said that there are rice, pulses in the village, there is no opportunity for famine in Bangladesh.
Former CMJF President Touhidul Islam Mintu said the capital market was artificially collapsed due to margin loan and force cell. Investors are getting helpless due to margin loans. We have to get out of this system.
Members of the BMBA and the Capital Market Journalist Forum were present on the occasion chaired by CMJF President Ziaur Rahman and general secretary Abu Ali.
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.
The Bangladesh Securities and Exchange Commission (BSEC) has removed three audit firms from its panel for their failure to secure enlistment with the Financial Reporting Council (FRC), according to a notice issued today.
The firms—A Hoque & Company, FAMES & R, and SK Barua & Company Chartered Accountants—were delisted following the FRC’s request. In December last year, the FRC published a list of enlisted audit firms and subsequently, in February, requested the BSEC to remove any firms that were not included on that list.
BSEC regulations mandate that financial statements signed by auditors outside its approved panel will not be accepted. With the removal of these three firms, the total number of audit firms on the BSEC panel has been reduced from 48 to 45.
Sources from the FRC revealed that 15-20 audit firms failed to secure enlistment last year, and approximately 45 chartered accountants are currently under restrictions imposed by the Institute of Chartered Accountants.
Although the delisted firms can no longer audit issuer companies or listed securities, they are allowed to complete audit and assurance services that were initiated before their removal, the BSEC clarified.
