Q1 NPLs with industries swell to BDT 240.0 billion

Classified loans in the industrial sector swelled by over 18 per cent or BDT 36.94 billion in the first quarter (Q1) of the current fiscal year (FY), proving the recovery drives by banks and financial institutions ineffective, to a great extent, officials said. The non-performing loans (NPLs) in the industrial sector rose to BDT 239.97 billion at the end of the July-September quarter of FY 2016-17 from BDT 203.02 billion in the same period last year, according to the central bank’s latest statistics. The data show that large-scale industries hold higher volumes of NPLs than the minnows.

Source:
http://print.thefinancialexpress-bd.com/2016/12/07/158817
http://www.newagebd.net/article/4277/defaulted-industrial-loans-rise-by-tk-3694cr-in-q1

Regulator opens probe into junk companies’ price hike

Bangladesh Securities and Exchange Commission yesterday formed a two-member panel to investigate the unusual hike in share prices of seven Z-category companies recently. The companies are: Fine Foods, BD Autocars, Meghna Pet Industries, Meghna Condensed Milk Industries, Zeal Bangla Sugar Mills, Imam Button Industries and Shaympur Sugar Mills. The stockmarket watchdog at a meeting asked the panel, which comprises BSEC’s Deputy Director Md Golam Kibria and Assistant Director Mohammad Rakibur Rahman, to file the probe report at the earliest. Companies that are not in operation or do not hold annual general meetings and do not pay dividends regularly are traded under the stock exchanges’ Z-category, which is considered a platform for junk companies.

Source: http://www.thedailystar.net/business/regulator-opens-probe-junk-companies-price-hike-1326196

Move to entice foreign companies into stock market

The government is likely to sit with the representatives of foreign companies of the Export Processing Zones (EPZ) aiming to motivate them for listing these companies with the stock market, officials said. In a recent meeting on listing of the multinational companies (MNCs) with the bourses, the Bangladesh Securities and Exchange Commission (BSEC) has proposed to hold a meeting with the representatives of the MNCs to bring them to the capital market, they added.

Source: http://print.thefinancialexpress-bd.com/2016/12/07/158821

BSEC forms probe body and 8th ICB Mutual Fund to be an open-end fund

The securities’ regulator has formed a body to probe into the reason of price hike of the shares of seven ‘Z’ category companies having negative earnings per share (EPS), officials said. The Bangladesh Securities and Exchange Commission (BSEC) Tuesday formed the probe body comprising deputy director Md. Gholam Kibria and assistant director Md. Rakibur Rahman after a commission meeting. In another development, the securities’ regulator has approved BDT 500 million fully redeemable non-convertible corporate bond to be issued by Golden Harvest Agro Industries. The tenure of the bond will be seven years and will be issued to financial institutions, insurance companies, corporate entities and high net worth individuals only. In addition to that, 8th ICB Mutual Fund, upon closing of trade, will be converted into an open ended fund.

Source: http://print.thefinancialexpress-bd.com/2016/12/07/158758