Stocks
BSEC seeks access to verify information on firms of company registration database
Bangladesh Securities and Exchange Commission (BSEC) has asked for access to the database of the Registrar of Joint Stock Companies and Firms (RJSC) so that it can easily verify information on companies that want to raise funds from the capital market.
The BSEC has recently sent a letter to the RJSC to this end, in which it also expressed interest to provide technical support if necessary.
“We would like to propose an online verification portal with you by which the authorized officers of the commission can verify the documents from your server in real-time reducing job work for both the institutions.”
“We need frequent verification of basic registration documents, ownership information, and particulars of directors. Currently, there is no easy way to verify those with RJSC except manual letter-based communications, which reduces the ease of doing business,” it adds.
The commission officials said they often struggle to verify the authenticity of information submitted by companies aspiring for enlistment due to the lengthy process of cross-checking work in correspondence with the RJSC, among others.
Currently, a company, after applying to the BSEC, has to wait for one year to raise funds from the capital market. The commission is now keen to bring it down to the shortest possible time.
Access to the proposed online system will facilitate verification of the BSEC, the officials said, adding that even if a fake certificate is submitted, it can be verified quickly.
“As the RJSC is the authority and keeps all the documents, we have no alternative to going to the RJSC to cross-check company information,” BSEC Executive Director Rezaul Karim told.
“Sometimes companies file fake documents. Sometimes, they have to wait a long time to get their registration certificates from the RJSC. If we have access to the online system, we will be able to verify data, which will reduce complexity,” he added.
The BSEC is currently using such a verification system to cross-check data with the Institute of Chartered Accountants of Bangladesh, the national body of professional accountants.
It can easily find out the authentic income and expenditure accounts of any company through this system.
The RJSC is the sole authority that facilitates the formation of companies and keeps track of all ownership.
Dhaka Stock Exchange DSE, Bourse on the last working day of the week, April 18th, ended with a drop in Indices and hike in Turnover from the previous working session. This information is known from DSE sources.
522 crore 51 lakh taka shares were traded on this day. 39 crore 97 lakh more tradings were done in DSE today compared to the previous workday, 17th April , Shares worth Tk 482 crores 53 lakh shares were traded last time, Wednesday.
The benchmark DSEX lost 77.08 points or 5,686 The Shariah-based index DSES dropped 15.85 points or 1,246, and the blue-chip index DS30 decreased by 22.77 points or 1,984.
Of the issues traded, 29 advanced, 342 declined and 24 remained unchanged.
Asiatic laboratories Limited ranked top gainer on DSE, the share price increased by Tk 4.60 paisa or 9.96 percent. On this day, the share was last traded at Tk 50.80 paisa.
Far East Finance & Investment Limited ranked top loser on the DSE, the share price dropped by Tk 0.30 paisa or 6.97 percent. On this day, the share was last traded at Tk 4.00 paisa.
DSE topped on trade is Asiatic Laboratories Limited 39 crore 22 lakh takas of company shares have been traded.
A total of 40 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 47 lakh 25 thousand 651 shares of the companies were traded. The financial value of which is 17 crore 46 lakh taka
One of the listed companies, Agni Systems limited discloses its financial reports for the third quarter, (January – March 24).
The company’s earnings per share (EPS) was Tk 0.32 paisa in Q3 of the current financial year (January – March 24). EPS was Tk 0.27 paisa during the same period last year. NAV per share was Tk. 16.37 as of March 31, 2024.
One of the Listed companies, Dutch Bangla Bank PLC has recommended 17.5% Cash Dividends & 17.5% Stock Dividends for the year ended December 31, 2023.
In terms of financial performance, The Company has further informed Consolidated EPS of Tk. 10.72 for the year ended December 31, 2023. The Company has also reported Consolidated NAV per share of Tk. 64.41 for the year ended December 31, 2023.
The Annual General Meeting (AGM) of the company will be taking place on June 09, through the digital platform. The record date for this has been fixed at May 9.
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