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

Important Business News Extracts December 26, 2019

2019: Lacklustre year for IPOs

Low-cap companies have dominated the initial public offerings, or IPOs, in the outgoing year in what was a bearish market. A total of eight firms raised Tk 5.52 billion combined, including premium, by floating IPO shares in 2019, according to the Dhaka Stock Exchange, DSE. In 2018, 13 companies and a mutual fund collected Tk 6.46 billion. Fund raising by companies through IPOs slumped by 14 per cent year-on-year in 2019. The DSEX, the prime index of DSE, lost more than 1,560 points or 26 per cent between January 24 and December 24 this year. The companies followed two methods-fixed price and book-building-while issuing IPOs in the capital market. Three companies that turned to book-building method were Square Knit Composite (Tk 1,500 million), Runner Automobiles (Tk 1,000 million) and ADN Telecom (Tk 570 million) during the period. In contrast, five companies opted for fixed-price method: New Line Clothings (Tk 300 million), Silco Pharmaceuticals (300 million), Coppertech Industries (Tk 200 million), Sea Pearl Beach Resorts (Tk 150 million) and Ring Shine Textiles (Tk 1500 million). Under the book building method, eligible investors’ quota was brought down to 50 per cent from 60 per cent and the general investors’ quota (excluding NRBs) was raised to 40 per cent from 30 per cent. The IPO market has been sluggish since the beginning of 2010 when the market boomed and then crashed as the regulator has tried to limit new issues. Fundraising through IPOs had peaked at Tk 16.78 billion in 2011 since the stock market debacle of 2009-10.

Source: https://today.thefinancialexpress.com.bd/first-page/2019-lacklustre-year-for-ipos-1577296431

ADB to support BD’s Reform

The Asian Development Bank (ADB) is expected to help Bangladesh ease transborder and regional trade through facilitating infrastructural development and regulatory reforms. Economic Relations Division (ERD) officials said an ADB team on a recent mission in Dhaka sat with public agencies and ministries concerned preparatory to the proposed project. The multilateral funder is likely to provide $1.5 million for doing a feasibility study and other pre-project work. Under the ADB-aided project, they said, the Bangladesh Land Port Authority (BLPA) under shipping ministry will develop necessary infrastructures at key ports like Benapole, Sonamasjid, Bhomra and Burimari. The BLPA will build warehouses at the ports to keep both importables and exportables with highest security. Both Local Government Engineering Department (LGED) and Roads and Highways Department (RHD) will develop the road connectivity in the cross-border land ports.

Source: https://today.thefinancialexpress.com.bd/first-page/adb-to-support-bds-reform-1577296327

BEPZA inks $ 51.82 million investment deal with Taiwanese Co

Bangladesh Export Processing Zones Authority (BEPZA) has signed a US$ 51.82 million investment agreement with Golden Chang Shoes (BD) Ltd., a concern of renowned Golden Chang Group of Taiwan. The company will set up a factory in Cumilla EPZ for producing safety shoes, casual shoes and all kinds of shoes, said a statement. This fully foreign-owned company will produce 3.5 million pairs of shoes per annum for the world famous brands Caterpillar, Timberland and Dr. Martens (UK). Golden Chang Shoes will be creating employment opportunities for 6,171 Bangladeshi nationals.

Source: https://today.thefinancialexpress.com.bd/trade-market/bepza-inks-5182-million-investment-deal-with-taiwanese-co-1577288846

Prime Bank MF Tenure extended

The trustee has approved the extension of the tenure of Prime Bank 1st ICB AMCL Mutual Fund for another term of ten years. According to a disclosure posted on the website of Dhaka Stock Exchange (DSE), the tenure of the fund has been extended up to January 24, 2030. The tenure has been extended as per BSEC Order issued on October 02, 2018 through the exercise of its power accorded by the Section 20A of the Securities and Exchange Ordinance, 1969 (XVII of 1969). Investment Corporation of Bangladesh (ICB) is the trustee and the ICB Asset Management Company is the asset manager of the fund. The units of the Prime Bank 1st ICB AMCL Mutual Fund presently are being traded below face value of Tk 10. The price was Tk 4.80 each on Tuesday on the prime bourse.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/prime-bank-mf-tenure-extended-1577298598

Total Premium Income of Pvt life Ins Cos rises to Tk 84,758m

The total premium income of private sector life insurance companies increased from Tk. 77,318 million in 2017 to Tk. 84,758 million in 2018. The total assets of the private sector life insurance companies stood at Tk.363,942 million in 2018 as against Tk. 346,521 million in 2017. According to the latest annual report of Bangladesh Insurance Association (BIA), the gross premium income of non-life private sector insurance companies increased from Tk. 26,694 million in 2017 to Tk.30,347 million in 2018 registering a growth rate of 13.68 per cent. The total assets stood at Tk. 79,774 million in 2018 whereas it was Tk. 75,495 million in 2017. The total investment stood at Tk. 38,036 million in 2018 while it was Tk. 38,635 million in 2017. The AGM approved the Annual Report of 2018 on the activities of the BIA and adopted the audited accounts of the Association and the report of the auditors for the year ended 31st December, 2018.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/total-premium-income-of-pvt-life-ins-cos-rises-to-tk-84758m-1577298536

LankaBangla’s CSR 2019

Shikha Tailoring Training Programme 2019′ was arranged for 30 distressed women from different areas of Kurigram from October to December 2019 as part of its CSR activities by LankaBangla Foundation. LankaBangla Foundation and Ulipur Pourashova jointly awarded course completion certificate to all 30 trainees for the 03-months long training programme, an initiative by LankaBangla Finance.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/lankabanglas-csr-1577298685

Southeast Bank opens Sub-Branch at Pabna

Southeast Bank Limited inaugurated its Abdul Hamid Road Uposhakha at Pabna on Tuesday. Md. Habibur Rahman, Additional Managing Director of Southeast Bank inaugurated the sub-branch at Pabna. In the inaugural ceremony, renowned businessmen, industrialists, customers, educationists, local elites, local journalists and other officials of the Bank were also present. Southeast Bank’s first and the foremost priority is to provide quality service and maximum satisfaction to the customers. From now on, technology-backed modern banking services (except Foreign Exchange) will be provided to the customers from the newly opened Abdul Hamid Road Uposhakha.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/southeast-bank-opens-sub-branch-at-pabna-1577298653

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓ 36.08↓ 0.13%
FTSE1007,632.24↑ 8.65↑ 0.11%
Nikkei 22523,885.81↑102.94↑ 0.43%

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 61.36 ↑ 0.25↑ 0.41 %
Crude Oil (Brent)$ 67.45 ↑ 0.25↑ 0.37 %
Gold Spot$ 1,503.50↑ 3.66↑ 0.24 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.2354
GBP 1BDT 107.728
EUR 1BDT 92.2803
INR 1BDT 1.16661





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