CSE DSE Stockmarket Sharebazar Pujibazar taka stockholder investor PSI

It sold 15.99 crore or 9.93% shares of the bank
Another owner—Saudi-based firm Al-Rajhi Co. for Industry & Trade, KSA—sold its entire stakes in Islami Bank Bangladesh following suit of multilateral development finance institution Islamic Development Bank (IDB) and local investment bank Investment Corporation of Bangladesh (ICB).
Al-Rajhi sold its entire holding of 15.99 crore, or 9.93 percent, shares of the bank during October this year, according to the shareholding report of the bank.

Subsequently, the corporate shareholder withdrew the directorship of Yousif Abdullah, who represented the company in the bank’s board.

In 2017, S Alam Group took over Islami Bank Bangladesh Ltd (IBBL), the country’s oldest shariah-based bank.

After that, many of the sponsors and previous corporate directors had sold their shares in Islami Bank.

For instance, IBBL’s sponsor director Mustafa Anwar sold his entire 42 lakh shares in 2017.

In 2018, IDB sold 8.69 crore shares of the bank. Recently, it sold its entire shares and withdrew directorship.

In June this year, state-run non-bank financial institution ICB had sold its entire shareholdings in the bank.

Stocks of the bank was traded at Tk 32.6 at the Dhaka Stock Exchange today.

The Daily Star

CSE DSE Stockmarket Sharebazar Pujibaza western marine shipyard financial

পুঁজিবাজারে বিবিধখাতে তালিকাভুক্ত কোম্পানি ওয়েস্টার্ন মেরিন শিপইয়ার্ড লিমিটেডের পরিচালনা পর্ষদ গত হিসাব বছরের দ্বিতীয় প্রান্তিক (অক্টোবর-ডিসেম্বর, ২০২২) ও ৬ মাসের (জুলাই-ডিসেম্বর, ২০২২) অনিরীক্ষিত আর্থিক প্রতিবেদন প্রকাশ করেছে।

প্রকাশিত প্রতিবেদন অনুযায়ী আলোচ্য প্রান্তিকে আগের হিসাব বছরের তুলনায় কোম্পানির শেয়ারপ্রতি লোকসান কমেছে। সোমবার (৬ নভেম্বর) ঢাকা ও চট্টগ্রাম স্টক এক্সচেঞ্জ (ডিএসই-সিএসই) সূত্রে এ তথ্য জানা গেছে।

এর আগে রোববার (৫ নভেম্বর) অনুষ্ঠিত কোম্পানির পরিচালনা পর্ষদ সভায় সর্বশেষ হিসাববছরের নিরীক্ষিত আর্থিক প্রতিবেদন পর্যালোচনা ও অনুমোদনের পর তা প্রকাশ হয়।

গত হিসাব বছরের দ্বিতীয় প্রান্তিকে কোম্পানির শেয়ারপ্রতি লোকসান হয়েছে (০.০৯) টাকা। আগের হিসাব বছরের একই সময়ে শেয়ারপ্রতি লোকসান ছিল (০.১০) টাকা। সেই হিসেবে শেয়ারপ্রতি লোকসান ০.০১ টাকা বা ১০ শতাংশ কমেছে।

কোম্পানির ৬ মাসে শেয়ারপ্রতি লোকসান হয়েছে (০.০৬) টাকা। গত অর্থবছরের একই সময়ে হয়েছিল (০.০৮) টাকা। এ হিসেবে কোম্পানিটির লোকসান ০.০২ টাকা বা ২৫ শতাংশ কমেছে।
২০২২ সালের ৩১ ডিসেম্বর কোম্পানিটির শেয়ারপ্রতি নিট সম্পদ মূল্য (এনএভিপিএস) দাঁড়িয়েছে ২০.১৯ টাকায়।Risingbd.com

CSE DSE Stockmarket Sharebazar Pujibazar Bangladesh Bank Dollar Taka financial

দীর্ঘদিন ধরে ডলারের বাজারে অস্থিরতা চলছে। সংকট কাটাতে ধারাবাহিকভাবে রিজার্ভ থেকে ডলার বিক্রি করছিলো বাংলাদেশ ব্যাংক। তবে রিজার্ভ থেকে আর কোনো ডলার বিক্রি করবেন না বলে জানিয়েছেন ব্যাংকটির গভর্নর আব্দুর রউফ তালুকদার।

সোমবার (৬ নভেম্বর) বাংলাদেশ ব্যাংকে সাংবাদিকদের সঙ্গে এক বৈঠকে তিনি এসব কথা বলেন।

গভর্নর বলেন, রিজার্ভ থেকে আর কোনো ডলার বিক্রি করা হবে না। এতদিন রিজার্ভ থেকে ব্যাপক সাপোর্ট দেওয়া হয়েছে। তবে সামনের দিনগুলোতে এরকম সুবিধা আর দিবো না।
তিনি বলেন, দেশের অর্থনৈতিক স্থিতিশীলতা বজায় রাখতে আমরা কাজ করে যাচ্ছি। খুব শীঘ্রই অর্থনীতি স্থিতিশীল হবে বলে তিনি আশা প্রকাশ করেন।

দেশে বর্তমানে চলছে অর্থনৈতিক অস্থিরতা। এমন অস্থিরতার মধ্যে অর্থনীতিবিদ’সহ বিভিন্ন পক্ষের সঙ্গে সঙ্গে ধারাবাহিক আলোচনা করছে বাংলাদেশ ব্যাংক। আজ সর্বশেষ সাংবাদিকদের সঙ্গে আলোচনায় বসেছিলো আর্থিক খাতের নিয়ন্ত্রক সংস্থাটি।

বৈঠকে ইকোনোমিক রিপোর্টার্স ফোরামের সভাপতি মোহাম্মদ রেফায়েত উল্যাহ মৃধা ও সাধারণ সম্পাদক আবুল কাশেমসহ বেশ কয়েকটি গণমাধ্যমের সিনিয়র সাংবাদিকেরা উপস্থিত ছিলেন।

এদিন বৈঠকে, ডলার সংকট কাটাতে ডলারে বন্ড ছাড়ার পরামর্শ দিয়েছেন সাংবাদিকরা।
বৈঠক শেষে উপস্থিত সাংবাদিকরা বলেন, বর্তমানে দেশে ডলার সংকট চলছে। এমন পরিস্থিতিতে আমরা ডলারে বন্ড ছাড়ার পরামর্শ দিয়েছি। এটি চালু হলে প্রবাসীরা ও বিদেশি বিনিয়োগকারীরা বিনিয়োগ করতে পারবে। এর ফলে ডলার প্রবাহ গতিশীল হবে।

তথ্য অনুযায়ী, চলতি ২০২৩-২৪ অর্থবছরের প্রথম চার মাসে (জুলাই-অক্টোবর) রিজার্ভ থেকে ডলার বিক্রির পরিমাণ গিয়ে ঠেকেছে সাড়ে চার বিলিয়ন ডলারে। গত অর্থবছরের একই সময়ে বিক্রির পরিমাণ ছিল পাঁচ বিলিয়ন ডলারের বেশি।

ডলার সংকট নিয়ন্ত্রণ করতে আমদানিতে বেশ কড়াকড়ি আরোপ করেছিলো বাংলাদেশ ব্যাংক। তবে বিলাসী পণ্য আমদানির পুরোপুরি নিয়ন্ত্রণ করতে না পারায় রিজার্ভ থেকে ধারাবাহিকভাবে ডলার বিক্রি করে আসছিলো ব্যাংকটি।

এক্ষেত্রে সাংবাদিকরা বিলাসী পণ্য আমদানিতে আরও কঠোর হওয়ার পরামর্শ দেন। তারা বলেন, ডলার সংকট কাটাতে হলে অবশ্যই বিলাসী পণ্যের আমদানিতে আরও কড়াকড়ি আরোপ করতে হবে। তাই আমরা বাংলাদেশ ব্যাংকের গভর্নরকে এ বিষয়ে বলেছি।

বৈঠক শেষে রেফায়েত উল্যাহ মৃধা বলেন, মূলত বৈঠকে মুদ্রানীতি-ডলারের দাম ইত্যাদি নিয়ে আলোচনা হয়েছে। আমাদের অর্থনীতিকে কিভাবে স্থিতিশীল করা যায় সেটি নিয়েও আমরা আলোচনা করেছি। গভর্নর বলেছেন, খুব দ্রুতই আমাদের অর্থনীতি স্থিতিশীল হবে।

The financial account balance, which includes foreign direct investment, short-, medium-, and long-term loans, and trade credits, continued to widen in the negative territory, driven by a decline in foreign loans and aid, as well as a reduction in trade credits.

The central bank data, released on Thursday, reveals that the country’s financial account balance dipped into the negative, reaching nearly $4 billion by the end of September. This is a stark contrast to the positive balance of $839 million recorded a year ago and the negative balance of $3.25 billion in August this year.

A central bank official told The Business Standard that the decline in foreign loans and investments is exerting downward pressure on the financial account.

International rating agencies have downgraded Bangladesh’s ratings in recent months, eroding foreign investor confidence as they perceive the country to have become riskier than before.

The private sector has attracted millions of dollars in foreign loans over the past several years. However, the trend has shifted due to the surge in interest rates, which have soared from 0.5% two years ago to the current rate of 5.5%. Also, the continuous devaluation of the taka against the dollar has made traders more risk-averse when taking out new loans.

Central bank data shows that the dollar was sold from reserves at Tk96 in October last year and Tk111 in early November this year.

This devaluation of the taka has significantly increased the cost of repaying foreign loans.

Infographic: TBS

Economists said the increase in our trade-credit deficit is one of the major reasons for the widening financial account deficit. The trade-credit deficit was $3.77 billion at the end of the first quarter of this fiscal year, compared to $904 million in the same period last fiscal year.

Zahid Hussain, former economist of the World Bank’s Dhaka office, told TBS, “If we receive $80 in payment for exports of $100, the remaining $20 is considered a trade credit deficit. Many minor factors also contribute to the trade credit deficit.”

A central bank official said exporters have some time to repatriate export proceeds, which is why there is a gap between actual export value and payment. Additionally, buyers do not always pay the full amount, and exporters often have to give discounts. However, it is also true that export payments are now taking longer than usual to receive.

Bangladesh’s foreign exchange reserves stood at $21.15 billion at the end of September. After clearing the September-October import bills of $1.21 billion with the Asian Clearing Union (ACU) next Monday, the reserves will stand at $19.29 billion, according to BPM6 calculation. The deficit in the financial account is keeping the reserves under pressure.

Trade deficit, current account balance on the mend

Bangladesh’s deficit in trade balance – the difference between exports and imports – narrowed significantly compared to the previous fiscal, thanks to a decline in imports.

According to Bangladesh Bank data, the trade deficit stood at $1.82 billion at the end of the July-September period of FY24, which was $1.02 billion at the end of the July-August period. However, the trade deficit was much wider at $7.58 billion at the end of July-September of the previous financial year.

Bangladesh’s current account balance has improved significantly, with a surplus of $892 million in July-September of FY24, compared to a deficit of $3.68 billion in the same period of the previous year.

“Remittances dropped in September, but the current account balance has remained positive and the trade deficit has narrowed, mainly due to a decrease in imports,” said Zahid Hussain.

“The central bank created a current account surplus by slowing the economy through import controls,” the economist said, adding that imports should be increased to promote economic growth.

Central bank data shows that remittances fell by 13.34%, or $750 million, in the July-September period of FY24 compared to the same period last year. During the same period, imports decreased by 23.77%, or $4.6 billion, while exports increased by 9.85%.

The current account balance is the primary source of a country to make foreign payments. When a country’s current account balance turns negative, it first uses its financial account to make foreign payments. If the financial account also becomes negative, the country then uses its reserves to make foreign payments.

The overall balance of payments deficit narrowed to $2.85 billion at the end of September, down $350 million from the same period in the previous fiscal year.

Zahid Hussain said that the overall balance of payments has slightly improved, driven by a current account surplus. However, the widening financial account deficit is a concern.

He said Bangladesh’s managed floating rate of the dollar between 2003 and 2022 was a model for many countries, but the situation has changed.

The economist believes that the dollar rate should now be based on market forces. However, if a market-based rate is not possible in the short term, corridors should be established around the dollar rate to create a level playing field.

Central bank data also shows that the balance of payments had a net positive error and omissions of $140 million in the first three months of FY24, compared to a net negative error and omissions of $512 million in the same period of FY23.

Zahid Hussain said, “Positive error and omissions mean an unaccounted inflow of dollars. It is not possible to detect how the dollars arrived but the Bangladesh Bank will be able to tell whether it was an inflow or not.”

Trade Deficit / Balance of Payments / Bangladesh

Source: https://www.tbsnews.net/economy/financial-account-deficit-widens-further-september-732158

BGMEA chief says workers’ unrest leading to factory shutdowns was reflected in reduced shipment

Merchandise exports hit a 26-month low in October, plummeting by 13.64% to $3.76 billion, according to data released by the Export Promotion Bureau (EPB) on Thursday.

The significant decline is in stark contrast to the $4.35 billion recorded in the same month the previous year.

Dismal export performance was extended across all major categories, encompassing ready-made garments, jute and jute goods, leather and leather goods, home textiles, and agricultural products, experiencing negative growth.

These performance numbers pose a significant challenge to the government’s attempts to bolster foreign exchange reserves, which have been dwindling for months and now stand below $20 billion, equivalent to only three months’ worth of import bills.

Focus should be on export market expansion, to avoid middle-income trap: Debapriya

Exporters attribute this decline to subdued demand in key markets, particularly the United States and the European Union and geopolitical tensions.

Besides, ongoing labour unrest in Bangladesh’s garment manufacturing hubs, Ashulia and Gazipur regions, since 23 October, impacted the shipment of goods.

Illustration: TBS

Talking to The Business Standard, Faruque Hassan, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said the apparel sector experienced adverse trends in October, showing negative growth both on a year-on-year and month-on-month basis.

He disclosed that apparel shipments in October declined by a significant 12.5% when compared to September, and the year-on-year drop was nearly 14%.

He attributed this unwelcome situation to two primary factors: diminishing global demand and supply chain disruptions stemming from ongoing labour unrest.

Workers’ unrest leading to over 500 factories stopping production was clearly reflected in the reduced shipment value, said the BGMEA president.

A decline in exports leads to reduced foreign exchange earnings, which can strain the country’s ability to pay for imports and service foreign debt, experts said.

Furthermore, a continued decline in exports can worsen the trade balance, potentially leading to trade deficits, currency devaluation, or higher borrowing costs.

The readymade garment sector is labour-intensive and export declines can result in job losses, affecting workers’ livelihoods, and leading to further unrest, they feared.

Dr Mohammad Abdur Razzaque, research director of the Policy Research Institute of Bangladesh (PRI), said, “We are trying to build our reserves but we are not in a hopeful situation and have no good news despite doing well in remittance earnings in October.”

Two major markets are in decline, he noted. “The US market is not doing well and the German economy is also in a slowdown, which is reducing apparel demand in those countries.”

The ongoing political uncertainty and workers’ unrest are also likely to disrupt their supply chain, the economist added.

“If the situation does not improve, there will be another major supply chain disruption, which will be reflected in November export earnings,” feared Dr Razzaque.

To address low demand of apparel products and depressing economy in the global market, many competing countries such as Sri Lanka and Pakistan devalued their local currency more than Bangladesh, another factor to negatively affect Bangladesh apparel export, he explained.

Furthemore, Bangladesh has higher inflation than its competing countries, which means Bangladesh’s cost of production is higher than others, he added. “We have not controlled inflation but everyone else did it,” he added.

He further explained that Vietnam has not devalued their currency like Bangladesh did but managed their inflation which keeps them
competitive.

“If Bangladesh does not manage these factors, the pressure will grow at a time when we want to build our reserves and bring stability in the macro economy,” said Dr Razzaque.

Poor show of major exports

According to the EPB, the garments sector, the driving force of Bangladesh’s exports, accounted for $3.16 billion in exports with a 13.9% decline in October this year compared to the same period of last fiscal.

Knitwear exports saw 7.8% drop to $1.91 billion and woven items fell 21.9% to $1.25 billion in October this year.

Among the other sectors, agricultural products and jute and jute goods saw 1.3% and 16.1% YoY drop respectively.

Besides, leather products and home textile exports also fell 42.2% and 38.9% respectively.

On the other hand, only cotton and cotton products and engineering products experienced 36.4% and 15.5% growth respectively.

Still July-October data positive

Despite the decline in October, the overall export performance for the July-October period of the current fiscal remained positive, showing a growth of 3.52% compared to the same period in the previous year.

However, this growth fell short of the government’s target by 9.31%.

Export earnings / Bangladesh Economy

Source: https://www.tbsnews.net/Exports-hit-26-month-low-in-October#lg=1&slide=0

BRAC Bank has reported a 53 per cent year-on-year growth in its consolidated profit for January-September to Tk 5.83 billion, as its interest income and return on investments rose significantly.

A reduction in non-performing loans and higher income from the bank’s subsidiary bkash also supported the boost to its income.

Chief Financial Officer (CFO) M Masud Rana said the lender had seen an increased amount of loans worth Tk 75 billion disbursed in
January-September this year. During the time, non-performing loans (NPLs) dropped to 3.4 per cent from 3.6 per cent in the corresponding period last year. That is why the bank secured a good return from loans in the nine months.

According to the bank’s financial statement, the company’s
year-on-year overall interest income advanced 33 per cent in January-September.

The company’s interest income only from loans and advances saw a 38.31 per cent year-on-year rise in January-September.

Mr. Rana said the market-based reference rate or SMART (six-month moving average rate of Treasury bill) introduced at the end of June this year drove up interest income a bit.

Investment income from government securities also went up.

Of total investment income, Tk 3.39 billion and Tk 1.64 billion came in the form of interest and gains from investments in government securities respectively during the reporting period.

BRAC Bank diverted funds into government securities, considering risk-free returns, to avoid the volatile stock market.

Its income from stocks had a massive decline of 99 per cent to Tk 0.23 million in January-September this year, compared to a year earlier.

Income from bKash

The company’s year-on-year profit derived from subsidiaries jumped 155 per cent to Tk 3.63 billion in January-September from the same period last year.

Of the subsidiaries, bkash played a pivotal role in boosting income.

Income from bkash soared to Tk 880 million in the nine months to September this year from just Tk 40 million a year ago.

The income mainly came from the financial income of bkash.

BRAC Bank’s operating cash flow was much higher in the nine months compared to the previous year due to higher deposit mobilisation from customers and borrowings from banks.

The consolidated net operating cash flow per share was Tk. 28.02 for January-September this year, increased from Tk. 4.46 for
January-September last year.

Meanwhile, the stock of BRAC Bank has remained stuck at the floor price of Tk 35.80 since May 18 this year on the Dhaka Stock Exchange.

Brac Bank Bkash Profit

Source: https://today.thefinancialexpress.com.bd/stock-corporate/brac-banks-profit-jumps-on-higher-income-from-bkash-govt-securities-1698857507

Most of the listed multinational companies operating in the country witnessed higher profits and sales year-on-year in the nine months through September this year despite persistent economic challenges and inflationary pressures.

Brand image and quality of products empowered them to withstand the price hikes of raw materials and energy by passing the additional cost burden to consumers, market operators said.

Besides, managerial efficiency and good governance helped them earn more.

Thirteen multinational companies listed in the stock market account for more than 15 per cent of the total asset value of the Dhaka Stock Exchange.

Except for Bata, earnings of 10 out of 12 companies that have published their financial reports rose between 2.4 per cent and 378 per cent year-on-year in January-September this year.

The 12 companies altogether logged about Tk 56.70 billion in profit in the nine months through September this year, 12 per cent higher than the same period a year before.

Their collective sales grew about 10 per cent to Tk 356.72 billion during the period under review, according to their unaudited financial statements.

Of those, consumer goods manufacturers saw the demand for their products remain almost stagnant. Still, manufacturers made higher profits, riding on price hikes.

On the other hand, cement makers, tobacco and telecom operators recorded higher sales revenue.

However, tiles manufacturer RAK Ceramics and oxygen producer Linde Bangladesh continued to see their revenue and profit fall for the past three quarters, owing to energy price hikes and increased input costs.

Singer Bangladesh came back strongly as the multinational electronic and home appliance maker’s profit more than tripled in the nine months, driven by two major festival sales.

Singer saw the highest profit surge at 378 per cent year-on-year in the nine months, as the company increased prices of all products.

Cement maker LafargeHolcim’s profit jumped 57 per cent to Tk 5.21 billion during the period, thanks to increased sales of aggregates and cement price hike.

Diverse product portfolio, digital footprint, strong marketing channels and aggregates business played a significant role behind the growth, said Iqbal Chowdhury, chief executive officer of LafargeHolcim Bangladesh.

Industry insiders say LafargeHolcim has a unique edge in business as it depends on its own source of raw material – limestone, which is transported from mines in Meghalaya to its factory in Chhatak, Sylhet by a conveyor belt.

That allows the company to avoid freight charges and escape
international raw material market volatility, two major factors that had shrunk the profit margins of its competitors.

Another multinational cement maker, Heidelberg that markets products with the brand name of Scan Cement also rebounded strongly in January-September this year after enduring losses in the same period a year before. The recovery was supported by higher sales price.

The German-based cement manufacturer recorded a profit of Tk 500 million in the nine months to September this year, as opposed to a loss of Tk 240 million in the same period a year before.

Grameenphone, the country’s leading mobile phone operator, registered 3 per cent higher profit to Tk 27.20 billion in January-September, the highest income among all listed multinational companies, driven by a boost to data revenue.

“Our effort in network expansion and investment, transforming the user experience, has strengthened our position as the number one network in the country,” said Yasir Azman, chief executive officer of
Grameenphone.

Robi Axiata, the country’s second-largest mobile operator, saw a remarkable 203 per cent escalation of profit in the nine months, on increased data revenue and reduced expenses in foreign currency transactions.

“We have invested continuously in network expansion and brought about changes in our sales and distribution,” said Mohammed Shahedul Alam, chief corporate officer of Robi Axiata.

British American Tobacco (BAT) Bangladesh witnessed a slowdown in its profit growth in the first nine months of 2023 mainly due to higher raw material prices and operating costs.

The tobacco market leader’s net profit grew 2.4 per cent while its net revenue after deduction of supplementary duty and value added tax (VAT) rose 10 per cent in the nine months.

Higher production costs, soaring operating expenses and increased tax payments have impacted the earnings growth, the company said.

Reckitt Benckiser has reported a 21 per cent higher profit
year-on-year for the period, as there was a jump in revenue and finance income and a reduction in marketing and operating expenses.

Unilever Consumer Care reported around 26 per cent profit growth in January-September this year despite a 6 per cent revenue drop as Horlicks maker managed to cut 38 per cent operating expenses.

Despite having a decline in revenue earnings, Berger Paints somehow managed to secure a marginal year-on-year growth in profit in the nine months.

Ms Rupali Chowdhury, managing director of Berger Paints, said foreign exchange loss was much higher this year compared to the previous year.

“Our company somehow was able to make a marginal growth in profit amid adverse impacts created by a decline in the demands for [our] products and currency devaluation,” Ms Chowdhury said.

Marico’s profit grew at a higher pace than revenue, as the consumer goods manufacturer successfully reduced the cost of sales and elevated finance income.

Marico recovered from last year’s negative net finance income and posted gains this year.

Meanwhile, Linde’s profit nosedived 35 per cent year-on-year to Tk 0.48 billion in January-September mainly due to lower sales and a sharp devaluation of the local currency against the US dollar.

Linde did good business in 2021, particularly in the medical segment, as the need for oxygen shot up to help Covid patients dealing with breathing distress in hospitals.

RAK Ceramics, the country’s largest and renowned tiles and sanitary ware maker’s profit dropped 25 per cent, owing to energy price hikes and increased production costs.

MNCs / Multinational companies / earnings

Source: https://thefinancialexpress.com.bd/stock/bangladesh/stocks-down-at-opening-amid-nation-wide-blockade