Stocks
US, Europe & Asia Bourses falls
The stock market in Asia, Europe and the US fell. The global bourses have fallen mainly due to the increasing fears of a global economic slump.
Even though the stock markets of Asia, Europe and US fell, the stock markets of the UAE, Qatar, Jordan and Lebanon were hiked in the previous week. Aside, the stock markets of Kuwait, Saudi Arabia, Oman and Morocco points dropped.
UK’s FTSE 100 index lost 6.18 points last Friday and Germany’s blue chip index DAX lost 197.78 points. At the same time, France’s CAC 40 index fell by 69.48 points.
Additionally, the capital markets of Denmark, Poland, Germany, Greece, Finland, Switzerland, Spain, Italy, Netherlands, Belgium, Portugal, Austria, Sweden and Ireland have lost points. But then, points have been added in the capital markets of Norway, Hungary and Luxembourg at this time.
The Dow Jones Industrial Average fell 2.11pc or 630 points on the last day of the week. At the same time, the country’s S&P 500 index lost 2.80pc or 104.86 points and the Nasdaq index lost 3.80pc or 420.91 points.
In addition to the US, the capital markets of Argentina, Peru, Brazil, Mexico, Chile and Colombia in the region lost points. On the other hand, the Venezuelan capital market was good at this time.
Previous week Friday, in addition to the US and Europe, the capital markets of Asia also fell. The Nikkei 225 index of Japan, one of Asia’s leading capital markets, fell by 195.19 points on that day. India’s BSE Sensex index fell by 30.81, Vietnam’s Hang Seng index by 272.10 and China’s Shanghai Index by 16.81 points. In addition, the capital markets of Hong Kong, South Korea, Taiwan, Australia, New Zealand, Pakistan, Malaysia, Indonesia, Singapore, Thailand, Sri Lanka and the Philippines also lost points at this time.
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.
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