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BSEC seeks access to verify information on firms of company registration database

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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.

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DSE Records Lowest Trade in 70 Working Days

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DSE stock index turnover

Dhaka Stock Exchange DSE, Bourse on the third working day of the week, November 28, ended with price Index  & turnover drops. This information is known from DSE sources.

297 crore 20 lakh shares were traded on this day. 179 crore 14 lakh less trading was done in DSE today compared to the previous workday, 27 November, Shares worth Tk 369 crores 96 lakh shares were traded last time, Monday. From the DSE website, the lowest trade was done on 17 August, which was around 299 crore taka, which means after 70 working days the stock market hit its lowest today.

The benchmark DSEX lost 6.62 points or 6,202 The Shariah-based index DSES dropped 0.72 points or 1,346, and the blue-chip index DS30 decreased by 1.98 points or 2,099.

Of the issues traded, 17 advanced, 134 declined and 139 remained unchanged.

Ambee Pharmaceuticals PLC ranked top gainer on DSE, the share price increased by Tk 53.60 paisa or 6.83 percent. On this day, the share was last traded at Tk 838.40 paisa.

Bd. Thai Aluminium Limited ranked top loser on the DSE, the share price dropped by Tk 1.40 paisa or 7.73 percent. On this day, the share was last traded at Tk  16.70 paisa.

DSE topped on trade is Central Pharmaceuticals Limited 15 crore 96 lakh takas of shares of the company have been traded.

A total of 52 companies’ shares were traded in the Block on the Dhaka Stock Exchange, 60 lakh 14 thousand 277 shares of the companies were traded. The financial value of which is 29 crore 84 lakh taka.

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Ring Shine Textiles reveals Null Dividend

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Ring Shine Textiles

One of the Listed companies, Ring Shine Textiles Limited has recommended no Dividend for the year ended June 30, 2023.

In terms of financial performance, The Company has further informed EPS loss of Tk. 2.53 for the year ended June 30, 2023. The Company has also reported NAV per share loss of Tk. 4.97 paisa.

The Annual General Meeting (AGM) of the company will be taking place on January 20, through the digital platform. The record date for this has been fixed at December 17.

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Bd. Thai Aluminium releases Q1 Financials

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Bd. Thai Aluminium

One of the listed companies, Bd. Thai Aluminium Limited discloses its financial reports for the first quarter, (July-September 23).

The company’s diluted earnings per share (EPS) loss of Tk 0.19 paisa in Q1 of the current financial year (July-September 23). EPS loss of Tk 0.12 paisa during the same period last year. NAV per share was of Tk. 27.66 paisa as of September 30, 2023.

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