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 May 03, 2020

Govt working to import spot LNG from H2 0f ’20

The energy ministry is now working on a mechanism to initiate importing liquefied natural gas (LNG) from international spot market to rip the benefit of ‘price crash.’ Several committees are now involved in the initiative to start spot LNG import from second half (H2) of this year, the state-run Rupantarita Prakritik Gas Company Ltd (RPGCL) managing director Md Kamruzzaman told the FE. JKM, the benchmark for spot LNG prices for North Asia, plunged to a historic low of US$1.925 per million British thermal unit (MMBtu) last week, as the ongoing global shutdown to combat the coronavirus pandemic has reduced world demand of LNG. The RPGCL will initially make proposal to the selected firms, specifying the quantity of spot LNG for supplying to the LNG terminals. The imported spot LNG should have a gross heating value of 1,025-1,100 Btu per standard cubic feet. It should be supplied on a delivered ex-ship basis, and the vessel size should range between 125,000 cubic metre and 220,000 cubic metre. The RPGCL will procure spot LNG, based on market prices, terminal availability, increased re-gasification capacity, and downstream demand. Currently, two Floating Storage Regasification Units (FSRUs), owned by the US-based Excelerate Energy and local Summit Group, are re-gasifying around 600 million cubic feet per day (mmcfd) of LNG, as of April 28. Each of the FSRUs has the capacity to re-gasify around 500 mmcfd. Bangladesh’s overall natural gas output is hovering around 2,400 mmcfd, of which 602 mmcfd is regasified LNG, and the remaining comes from local production, according to the Petrobangla statistics as on April 28.

Source: https://today.thefinancialexpress.com.bd/trade-market/govt-working-to-import-spot-lng-from-h2-0f-20-1588431915

BSEC to form panel of independent directors for listed companies

The securities regulator has decided to form a panel of independent directors who will be appointed in the boards of listed companies. The Bangladesh Securities and Exchange Commission (BSEC) took the decision in last week to ensure the due role of independent directors for the overall interest of shareholders. As per the corporate governance code (CGC), at least one-fifth board members of the listed companies will be independent. After enactment of the relevant provision, the listed companies will have to appoint independent directors from the panel formed by the securities regulator. As per the corporate governance code, total board members of a listed company shall not be less than five and more than 20, and at least one-fifth of the directors will be independent. And an independent director of a company is a director who either does not hold any share or hold less than 1.0 per cent shares of total paid-up shares of the company. Presently, there are 321 companies listed on the stock exchanges. Sometimes, there were criticisms regarding appointing such type of independent directors who fail to play due role for the interest of shareholders.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/bsec-to-form-panel-of-independent-directors-for-listed-companies-1588431149

Reckitt Benckiser declares record 1250pc dividend

Reckitt Benckiser (BD) Ltd has declared a record 1250 per cent cash dividend for the year ended on December 31, 2019 amid higher earnings growth. The company’s earnings per share jumped 86.64 per cent year-on-year to Tk 131.06 for the year ended on December 31, 2019, according to an official disclosure on Friday. The investors will get Tk 125 per share of face value of Tk 10 each. The board of directors of the company in a virtual meeting Thursday recommended the dividend and approved the audited financial statements for the year ended on December 31, 2019, This is also the highest dividend declaration of the company after listing on the Dhaka Stock Exchange. The company disbursed 700 per cent cash dividend in 2018, 790 per cent cash in 2017, 775 per cent cash in 2016 and 650 per cent cash dividend in 2015, the DSE data showed. The company has also reported net asset value (NAV) per share of Tk 142.64 and net operating cash flow per share (NOCFPS) of Tk 176.55 for the year ended on December 31, 2019 as against Tk 81.63 and Tk 129.22 respectively in the previous year.

Source: https://today.thefinancialexpress.com.bd/stock-corporate/reckitt-benckiser-declares-record-1250pc-dividend-1588431312

IPDC proved to be a maverick NBFI in 2019

IPDC, the country’s first private sector non-banking financial institution, swam against the tide in 2019. Its profits soared 25 per cent year-on-year to Tk 56 crore in a year when the majority of the NBFIs suffered due to liquidity crunch and were reeling from the repercussions of the liquidation of People’s Leasing Financial Services. IPDC’s revenue rose 15.5 per cent to Tk 216.6 crore thanks to it interest income. Its net interest income surged 14.4 per cent to Tk 194.3 crore in 2019 although the spread kept decreasing in the sector due to the tightening liquidity situation. “We have reshaped our business in 2015 and now we are getting the results,” said Mominul Islam, Managing Director of IPDC Finance. In 2019, the banking sector’s classified loans hit an all-time high of 12 per cent, while classified loans in NBFIs stood at 10.4 per cent. However, IPDC saw its classified loan ratio shrink to 1.57 per cent in 2019 from 2.14 per cent in 2018. Subsequently, the NBFI’s loans, advances and lease expanded 14.4 per cent to Tk 5,072 crore, making its portfolio the third largest amongst the NBFIs. IPDC’s stocks traded at Tk 22.60 on March 25, the last day of trading before the bourses shuttered in line with the countrywide general shutdown. The government holds 21.88 per cent shares in IPDC, institutional investors 18.98 per cent, foreign investors 2.88 per cent, retail shareholders 8.22 per cent and sponsor-directors the rest.

Source: https://www.thedailystar.net/business/news/ipdc-proved-be-maverick-nbfi-2019-1898893

Local and Global Stock Indices *

Index NameClose ValueValue ChangePercentage Change
↓ 622.03↓ 2.56 %
FTSE1005763.06↓ 138.15↓ 2.34 %
Nikkei 22519619.35↓ 574.34↓ 2.84 %

World Commodities *

CommodityClose ValueValue ChangePercentage Change
Crude Oil (WTI)$ 19.78↑ 0.94↑ 4.99 %
Crude Oil (Brent)$ 26.44↓ 0.04↓ 0.15 %
Gold Spot$ 1700.42↑ 13.92↑ 0.83 %

Major Currencies Exchange Rates Movement in Last Seven Days *

Exchange Rates
USD 1BDT 83.0209
GBP 1BDT 103.687
EUR 1BDT 91.1104
INR 1BDT 1.10099





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