Stocks
BSEC, BIDA to hold Roadshow in Japan after Eid
BSEC: The Bangladesh Securities and Exchange Commission and BIDA: Bangladesh Investment Development Authority are engaging to hold a roadshow in Japan to reach out to non-resident Bangladeshi investors and attract foreign investment.
The roadshow, titled “The Rise of the Bengal Tiger: Potentials of Trade and Investment in Bangladesh,” will be held on 27 April at the Westin Ballroom Tokyo.
Prime Minister Sheikh Hasina is scheduled to attend the programme which will be chaired by BSEC Chairman Professor Shibli Rubayat-Ul-Islam.
The roadshow will bring together various groups of people, including dignitaries, delegates, investors, and business leaders from both Bangladesh and Japan, with the goal of building sustainable growth partnerships.
According to sources in the BSEC, the Japan External Trade Organisation and the Japan-Bangladesh Committee for Commercial and Economic Cooperation will jointly organise the show.
Besides ministers, advisers to the prime minister, and government authorities, business leaders from various sectors will also be included in the Bangladesh delegation.
Prior, the roadshow was scheduled for November, but it was cancelled at the last minute.
The BSEC is organising roadshows in different countries of the world to attract foreign investment and encourage NRBs to invest in Bangladesh. In line with that, the roadshow is now being organised in Japan.
Roadshows are attended by various institutional and individual investors and stakeholders.
The attendees are briefed on the investment opportunities in Bangladesh, various development activities, investment-friendly policies of the government, the situation of the capital market, the overall economy of Bangladesh, and the cooperation of the government on foreign direct investment.
In addition, various investment-related information is presented to make expatriates interested in investing in the capital market.
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.
