Stocks
Treasury bond trading to start this year: BSEC chairman
Treasury bond trading will start this year. Then the growth of the capital market will increase as well as the contribution to the GDP. Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam commented that after a few days we will start all kinds of bond trade, then the market will increase by 50pc.
He said these things in the speech of the chief guest at the round table meeting titled ‘Bangladesh Stock Market: Present and Future’ jointly organized by Capital Market Journalists Forum (CMJF) and Bangladesh Merchant Bankers Association (BMBA) at Hotel Westin on Saturday, September 17.
BSEC Chairman said, 18 of our closed companies have already reopened. There is a possibility that these companies will repay their bank loans. Banks have benefited from this. Also, NBRO will benefit as it will get a big tax from here. So we also need the cooperation of NBR.
Shibli Rubayat-Ul-Islam said, if we compare with any other country on various aspects of the economy, then we must look at the overall condition of that country first. If we talk about the derivative market, then people have to look at it, but in our country, nobody has a good idea about the derivative market.
He said, our mutual funds recent decisions are very good, they are also starting to pay dividends. If not, they are being called and visited. Not only Bangladeshi products but foreign products will be traded in the commodity exchange. The farmer’s paddy will be bought and sold here before it is harvested. If we go to buy its software, then it will take about 100 to 150 crore taka, and if we want to buy better software, then it will take 400 crore taka. We are working on such big projects, the market size will increase if they start soon.
He also said that no matter how much support is given to the capital market, the country’s taxes will increase. If good companies are brought here, they will not have the opportunity to evade taxes. We are thinking of working on a short sale. Prior, to the launch of CCBL, we are thinking of launching a short sale. Because short sale requires the development of trading capacity.
The Chairman of BSEC said that the road shows that we have done are basically going on the instructions of the Prime Minister. We are starting to reap the benefits of this. We will also do road shows in some countries. Basically, when we brand our products abroad through road shows, they become interested in investing here, because high-level government policymakers are present with us in road shows. Foreigners are interested in their beautiful presentation.
President of Capital Market Journalist Forum (CMJF) Ziaur Rahman presided over the event, as President of Bangladesh Merchant Bankers Association (BMBA). Chhaydur Rahman.
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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