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BSEC, BIDA to host ‘The Rise of Bengal Tiger’ Summit in South Africa
The deep-rooted ties between Bangladesh and South Africa are set to be further fortified as the two nations embark on a path of trade and investment partnership. The historical connections, dating back to Bangladesh’s resolute support for ending apartheid in South Africa, have laid the foundation for this robust collaboration. Formally established in 1994, diplomatic relations have evolved into a tapestry of shared values and mutual cooperation.
The Radisson Hotel & Convention Centre in Johannesburg is abuzz with activity on Wednesday (August 23), to host the groundbreaking event, ‘The Rise of Bengal Tiger: Bangladesh Trade & Business Summit.’ The summit, jointly organized by the Bangladesh Securities and Exchange Commission (BSEC) and the Bangladesh Investment Development Authority (BIDA), seeks to harness the potential of these two economies. Her Excellency Sheikh Hasina, the Honorable Prime Minister of Bangladesh, lauds the occasion as the Chief Guest, reflecting the significance of the summit.
The summit’s agenda reflects a comprehensive approach to fostering trade and business relations between the two nations. The event will begin with a networking session, allowing dignitaries, delegates, and business leaders from both countries to engage and establish meaningful connections. This was followed by an insightful presentation on the Bangladesh economy, aptly titled ‘The Rise of Bengal Tiger.’ The resilience and growth of Bangladesh’s economy were showcased, setting the tone for the day’s discussions.
Acknowledging the importance of this partnership, a distinguished guest from South Africa will share their perspective on the occasion. This will be followed by a keynote speech by Her Excellency Sheikh Hasina, where she shall highlight the historical bonds and outline the collaborative avenues ahead. The event shall reach its apex with a panel discussion on ‘New Business Avenues and Opportunities Between South Africa and Bangladesh,’ fostering dynamic conversations about the potential for synergy.
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.
