TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK


TT-Clean: 77.1 | TK BC-Selling: 78.1
TK OD-Sight: 76.88 TK | TC-Selling: 78.1 TK

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Rate last updated: 02/01/2014 11:15:04 AM

Daily Business News Flash January 31, 2021

Major drug makers pull in bigger profits

Bangladesh’s leading listed pharmaceutical companies have bagged higher profits in the first half of the current financial year which began in July 2020, a result of people starting to see doctors again. Despite the November to January period being a slow season from the usual business perspective, there was a year-on-year jump in profit growth in the six months. Profits rose for all six drug makers who have published their financial reports. For Square Pharmaceuticals, it was 12.79 per cent to Tk 776 crore. It had also witnessed higher profits in the preceding six months amid the coronavirus pandemic. The drug maker’s profit was 31 per cent of its turnover in the past six months till December. It was 28 per cent in fiscal 2019-20 and 27 per cent in the year before. Pharmaceutical business goes slightly slow in the October-December period which is a trend, Alam said. However, the profit rose this year for a higher presence of people in doctors’ practices. Renata’s profit grew by 15 per cent to Tk 241 crore in the last half of 2020 compared to the same period the previous year. Beximco Pharmaceuticals’ profits rose 29 per cent to Tk 222 crore while for Acme Laboratories it was 2.59 per cent higher to Tk 79 crore. Profit of Ibn Sina grew 9.6 per cent to Tk 25 crore. The pharmaceutical company witnessed normal growth in the last six months, he said adding the group booked profits for mainly three reasons. One of them is lower finance costs, which resulted from a decrease in interest rate in the banking sector, he said. Its net finance costs dropped 19.5 per cent to Tk 179.36 crore. The company’s revenue rose 11.71 per cent to Tk 3,737 crore in the first half of the financial year.

Source: https://www.thedailystar.net/business/news/major-drug-makers-pull-bigger-profits-2036713

BSEC offers exit plan for poor performers

The Bangladesh Securities and Exchange Commission (BSEC) recently issued a directive offering companies not performing well an exit plan that would help protect small investors in case of delisting. When a company’s performance goes down, it is either traded as a junk stock in the over-the-counter market or gets delisted. In any case, the investors get next to nothing from their stocks. United Airways is one such case as it was delisted last month by order of the market regulator. After the delisting, general investors, considering the face value of their stocks, incurred losses of around Tk 786 crore. Under the directive, listed companies from a bourse’s main trading board, delisted securities trading in the over-the-counter market, delisted securities trading under the alternative trading boards and all other securities are eligible for the exit plan. Any company that has not been in commercial operation for more than two years, has incurred a net loss for three consecutive years, has accumulated losses that exceed its paid-up capital or fails to declare any cash dividends for three consecutive years is eligible for delisting, the BSEC said in its directive. The BSEC can also delist a company for any involvement in money laundering, financing terrorists or any other illicit business as defined by the state. The sponsors will initially deposit at least 50 per cent of the total amount of consideration calculated on the basis of offer price to the account maintained by the stock exchange concerned in cash, the directive read. The remainder will be deposited either in cash or by a bank guarantee in favour of the stock exchange concerned.

Source: https://www.thedailystar.net/business/news/bsec-offers-exit-plan-poor-performers-2036705

Three cos to raise Tk 1.86b in Feb

Three companies will open their IPO (initial public offering) subscription in February to raise an aggregate amount of capital worth Tk 1.86 billion from the country’s capital market. Of these companies, NRB Commercial Bank, a fourth general commercial bank’s IPO subscription will be opened on Wednesday. After September 22, 2008, the country’s capital market is getting a bank through enlisting this bank. According to information of Dhaka Stock Exchange (DSE), the IPO subscription of NRB Commercial Bank will start on February 3 and to be continued till February 9. Under the fixed price method, the bank will raise a capital worth Tk 1.2 billion issuing 120 million shares at an offer price of Tk 10 each. The company will utilise the IPO proceeds to purchase government securities, invest in the secondary market and cater the IPO expense. As per the half yearly audited financial statement for the period ended on June 30, 2020, the Bank’s net asset value (NAV) per share (without revaluation) stood at Tk 13.86. For the same period, the bank reported its weighted average earnings per share (EPS) of five years at Tk 1.55.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/three-cos-to-raise-tk-186b-in-feb-1612024869

CVC Finance to capitalise on rural economy

CVC Finance Ltd. wants to shift its corporate-centric focus to rural Bangladesh with the help of technology-based platforms. Currently, the corporate segment of CVC Finance, a new generation non-bank financial institution, holds 85 per cent of the loans and lease portfolios with large and medium-sized corporate entities. CVC Finance Limited incorporated and obtained its licence from Bangladesh Bank in 2015. The current deposit portfolio of CVC Finance is more than Tk 1.50 billion. It has a lending portfolio of Tk 4.0 billion. Highlighting the success as a financial institution, he noted his organisation received “A+” in long-term and “ST-2” in short-term credit rating. The current NPL rate is under 5.0 per cent, which is well below the industry average. We have a sound capital base of Tk. 1.15 billion as well. The combination of seasoned professionals and promising young minds brings in a unique poise and the established corporate and state-owned entities like Shadharon Bima Corporation, Investment Corporation of Bangladesh (ICB) reinforces its core strength. Reputed local and foreign groups like Khan Brothers Ship Building Ltd, Amanat Shah Weaving Processing Ltd, Moon Ready wears Ltd, Padma Glass Ltd and Kowloon Capital Ltd, Hong Kong have taken stake in CVC Finance.

Source: https://today.thefinancialexpress.com.bd/trade-market/cvc-finance-to-capitalise-on-rural-economy-1612023957

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
DJIA$ 29,982.62
↓ 620.74 ↓ 2.03 %
FTSE100$ 6,407.46↓ 118.69↓ 1.82 %
Nikkei 225$ 27,663.39 ↓ 534.03↓ 1.89 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 52.20 ↓ 0.14↓ 0.27 %
Crude Oil (Brent)$ 55.04↓ 0.06↓ 0.11 %
Gold Spot$ 1,847.65↑ 4.48↑ 0.24 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 84.8050
GBP 1BDT 116.0980
EUR 1BDT 102.7158
INR 1BDT 1.1524





Dear Valued Patrons,

At the very onset, let me express my heartiest gratitude for allowing us to serve you and I also wanted to reach out to you directly with an assurance that Dhaka Bank is fully equipped to support you during this difficult time.

Last couple of weeks ago we all were living in a peaceful condition, performing our daily tasks freely and perfectly. Entire economy and business environment was also in a good shape, until COVID-19 put a forceful stoppage to the overall life style and economy of the world. We all know that social distancing and cleanliness are the keys to prevent this pandemic. Hence, we urge your conscious effort to limiting public interaction and suspending wherever possible.

In this current situation, Dhaka Bank and its employees are beside you where we are fully online, either working from home or at our offices under a robust Business Continuity Plan (BCP) to serve you with limited branch banking and a full-fledged alternate delivery channel services.

Our state of the art Mobile App, Dhaka Bank GO (Click https://bit.ly/2WVfieu) and Internet Banking - Dhaka Bank Direct gives you the freedom of banking online anytime from anywhere. You can check the balance and transfer money to any designated Banks including any Dhaka Bank or bKash Account, make utility bill payments and mobile top-up through our Mobile App and Internet Banking Services. Our ATMs are also running efficiently with availability of sufficient cash for your convenience where you can make cash withdrawals whenever the need arises. Mentionable, the withdrawal of cash from any ATMs within Bangladesh with Dhaka Bank Debit Cards are absolutely free of charges up till April 30, 2020 (Dhaka Bank will bear the cost). Our corporate customers can also use our completely safe and secured online platform Dhaka Bank C-Solution for Payments, Inter Bank Fund Transfers, etc.

Moreover, to fulfill your urgent requirement, we have a limited no. of branches up and running by ensuring all kinds of precautionary and safety measures for you.

In case of extreme emergency and facing difficulties in conducting banking transactions, please let us know through our 24/7 Contact Center number 16474 (or, dial +8809678016474 for ISD/Overseas Calls). We are always with you to combat your difficulties.

As you know we are going through a critical phase and the situation is novel to all of us. We are getting lot of new information from various sources everyday about COVID-19 which will be shared at www.dhakabankltd.com.

Thank you for your trust and continued support to us. I firmly believe that jointly we will be able to combat this situation and win against all the odds.

Please stay home, stay safe and take care of yourself and family.

Best regards,

Emranul Huq
Managing Director & CEO
Dhaka Bank Limited