Telecom Sector’s Revenue to cross $5b by 2023
The telecommunication industry’s revenue will grow by 34 percent in the next five years to $5.08 billion from $3.8 billion at present, on the back of expanding user base and wide range of services. The industry employs about 7.60 lakh people directly, of which 92.5 percent are unskilled and 7 percent are women. The job growth rate in the sector will be 9 percent from 2016 to 2020. In 2016-17, the telecommunications sector accounted for 6.98 percent, or $29.6 billion, of the economy. The contribution of the sector is highly dominated by mobile operators with a direct impact of 58 percent, followed by distributors and retailers [25 percent], infrastructure providers [12 percent], and the handset industry, content applications and other services providers [5 percent]. At the end of fiscal 2017, there were 85 million unique subscribers and it will be 107 million in 2025, making Bangladesh the fifth largest mobile market in the Asia Pacific and the ninth largest market in the world in terms of unique subscribers. Active mobile connections will reach 190 million at the end of 2025 and the number of 4G users will be 41 percent.
HSBC to award Business Excellence
The Hongkong and Shanghai Banking Corporation [HSBC] in Bangladesh yesterday launched its first ever Business Excellence Awards to recognise the country’s businesses and entrepreneurs for their contribution to the sustainable growth of the national economy. The awards will be presented in seven categories. These include exporter of ready-made garments [RMG], supply chain and backward linkage, exporters of non-traditional and emerging sectors and contributor in import substitution. Businesses and entrepreneurs can nominate themselves by filling in a form available at business.hsbc.com.bd/bea by December 31. The jury board comprises members from the HSBC senior management team and the commerce ministry. Applicants of the RMG category must have a minimum annual export turnover of $50 million, non-traditional and emerging products exporters at least $3 million and supply chain and backward linkage firms $10 million. For nomination in import substitution category, firms have to produce at $10 million worth of import-substitute products. Entrepreneurs hope for their businesses to grow at a faster rate which will continue to have an impact on the socio-economic development of the country.
‘Made in Bangladesh’ Exhibition in Qatar from Jan 28
A three-day exhibition titled ‘Made in Bangladesh’ will begin at the “Doha Exhibition and Convention Center [DECC]” in Qatar on January 28, 2020. Bangladesh Forum Qatar [BFQ] with the assistance of Bangladesh Embassy is organising the fair. The exhibition will enable Bangladeshi companies to showcase their products and services. On the sidelines of the exhibition, there will be seminars and panel discussions to showcase toll manufacturing opportunities, business process and outsourcing opportunities.
Square Pharma, Renata top Net Profit Chart
The listed top pharmaceutical companies have continued their upward trend in generating profits amid increased demand of drugs due to growing illnesses among teeming millions caused by various diseases. The sector saw 10-11 per cent growth for the FY 2018-19 and the growth for July-September, 2019 is also praiseworthy. Of the listed companies, Square Pharmaceuticals posted the highest net profit for the fiscal year [FY] 2018-19 due to its country-wide network and quality of products. The net profit of other top manufacturers such as Beximco Pharmaceuticals, Renta, and The ACME Laboratories also rose for FY 2018-19 riding on increased domestic sales and exports. Square Pharmaceuticals reported its net profit of above Tk 10.56 billion for the year ended on June 30, 2019 against Tk 8.21 billion reported for same period of the previous year. Its consolidated EPS rose to Tk 16.03 for the FY 2018-19 from Tk 14.69 of the previous FY. According to the company’s annual report, its domestic sales rose 11.12 per cent to Tk 49.38 billion for the FY 2018-19, while the export sales advanced 1.49 per cent to Tk 1.49 billion came from 42 countries. The dividend payout [cash] of the Square Pharmaceuticals rose 24.83 per cent for the FY 2018-19 compared to the previous FY. The company recommended 42 per cent cash and 7.0 per cent stock dividend for the year ended on June 30, 2019. Like other few large cap companies, the price movement of the shares of Square Pharmaceuticals has an impact on the index of the stock exchanges. The company’s market capitalisation is around Tk 150 billion on the Dhaka Stock Exchange [DSE]. Amid the declining trend of the market, the company’s share price declined 21.17 per cent or Tk 50.30 in last one month. Its share price closed at Tk 190 each. The company posted its turnover of above Tk 25.43 billion for the FY 2018-19 against Tk 21.33 billion reported for the previous FY. The company’s EPS rose 19.57 per cent to close at Tk 47.47 for the FY 2018-19. For this FY, the company recommended 10 per cent cash and 10 per cent stock dividend. The company’s return to shareholders’ fund was 20.91 per cent for the FY 2018-19 from 21.13 per cent reported for the previous FY.
EXIM Bank opens 129th Branch
Export Import Bank of Bangladesh Limited inaugurated its 129th branch at South Surma, Sylhet on Saturday. Mahmud-uz Samad Chowdhury, MP, Sylhet-3 was present as the chief guest on the occasion. Dr. Mohammed Haider Ali Miah, Managing Director of the Bank, presided over the programme.
IBBL inaugurates 353rd Branch
The listed top pharmaceutical companies have continued their upward trend in generating profits amid increased demand of drugs due Islami Bank Bangladesh Limited inaugurated its 353rd Branch as College Gate Branch at College Gate, Tongi, Gazipur recently. Md. Mahbub ul Alam, Managing Director & CEO of the Bank inaugurated the branch as chief guest. Muhammad Qaisar Ali, Additional Managing Director of the Bank presided over the program.
Local and Global Stock Indices *
|Index Name||Close Value||Value Change||Percentage Change|
|↑ 3.33||↑ 0.01%|
|FTSE100||7,353.44||↑ 79.97||↑ 1.10%|
|Nikkei 225||24,023.10||↑598.29||↑ 2.55%|
World Commodities *
|Commodity||Close Value||Value Change||Percentage Change|
|Crude Oil (WTI)||$ 60.07 ||↑ 0.89||↑ 1.50%|
|Crude Oil (Brent)||$ 65.22||↑ 1.02||↑ 1.59%|
|Gold Spot||$ 1,476.34||↑ 6.54||↑ 0.44%|
Major Currencies Exchange Rates Movement in Last Seven Days *
|USD 1||BDT 83.2321|
|GBP 1||BDT 110.918|
|EUR 1||BDT 92.5258|
|INR 1||BDT 1.17604|
*CURRENCIES AND COMMODITIES ARE TAKEN FROM BLOOMBERG.<