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Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayet-UL-Islam called on German investors to pour money in Bangladesh’s capital market, promising that the investment will result in high returns.

“Bangladesh’s economy has made enviable progress. We have already progressed in all indicators. Invest in various sectors, including the capital market, to get high returns,” he said at a roadshow titled ‘The Rise of Bengal Tiger: Bangladesh-German Trade and Investment Summit 2023’ at Hotel Intercontinental in the German capital Berlin on Monday.

The BSEC and the Bangladesh Investment Development Authority (Bida) jointly organised the roadshow.

Speaking on the occasion, the BSEC chairman said there is a potential for investment in various sectors, including the capital market.

“We have brought new products to the capital market. We have developed it. You can invest here safely,” the BSEC chairman told investors.

He said Bangladesh’s development partners say the country will lead the global economy in the future.

“There are 39 hi-tech parks, 100 economic zones in the country. Bangladesh now has huge potential for investment. Hopefully Germany will invest more in Bangladesh.”

Bangladesh’s ambassador to Germany Mosharraf Hossain Bhuiyan gave the welcome speech on the occasion.

Bida Executive Chairman Lokman Hossain, Beza Chairman Sheikh Yusuf Harun, Dhaka Stock Exchange (DSE) Chairman Hasan Mohammad Hafizur Rahman Babu, Capital Market Stabilization Fund Chairman Najibur Rahman also spoke on the occasion.

Speaking about Bangladesh’s aviation sector, the BSEC chairman said Bangladesh has a total of 12 airports including three international airports.

“We operate domestic flights from 8 airports. We have four airlines, 11 chartered airlines and 4 cargo airlines operating flights here. Biman Bangladesh Airlines is already considering buying aircraft from France’s Airbus.”

He also said, “We [Bangladesh] have never failed to achieve our target. We will not fail in any of our goals in the future. Our next target is to make ourselves a developed country.”

Addressing German businessmen, Shibli Rubaiyat said, “We have 100 special economic zones. Like the money market, our capital market is also moving forward. Everyone, including the Bida and the Bepza, is ready to help you.”

Capital Market Stabilization Fund Chairman Md Nojibur Rahman said after the Covid-19 pandemic, foreigners are looking for good places to invest.Bangladesh wants to catch that investment

Bangladesh’s Ambassador to Germany Mosharraf Hossain Bhuiyan said Bangladesh and Germany have had good relations for a long time.

“Bangladesh has been progressing economically for 20 years. It now wants to become a middle income country by 2031.”

“We are working to increase the import, export and investment of both countries. Bangladesh is now moving forward in the ease of doing business in Bangladesh. Hopefully German investors will invest in Bangladesh,” he said.

LafargeHolcim Bangladesh made a profit of Tk521 crore in the first nine months of this year, which is also the highest ever in its history.

The profit jumped over 58% in the January-September quarter compared to the previous year at the same time, the multinational cement manufacturer said in a press release.

LafargeHolcim Bangladesh posted earnings per share of Tk4.49 at the end of the first three quarters of 2023.

Additionally, the company’s revenue exhibited substantial growth, surging by over 27% to Tk2,164 crore in the first nine months of this year compared to the same period in the previous year.

In the July-September quarter, its revenue and profit grew by 12% and 41% to Tk639 crore and Tk159 crore respectively over the same quarter of the previous year.

Iqbal Chowdhury, chief executive officer of LafargeHolcim Bangladesh, said, “I thank all members and stakeholders of LafargeHolcim Bangladesh family for their remarkable achievements over the past nine months, even in the face of challenging economic conditions and a significant currency devaluation.”

He emphasised that these results underscore the strength of their resilient team and their efforts to expand the business, even in an uncertain economic environment.

Iqbal Chowdhury further said the third quarter’s performance demonstrates the strength of our diverse product portfolio and strategic presence driven by innovative products, high-value solutions, digital footprint, and new channels.

“Our Geocycle project stands as a pioneering sustainable waste management solution in the country. We want to make a tangible contribution to bringing our society a step closer to a zero-waste future by managing more waste in the coming years,” he said.

“We shall continue to focus on expansion of channels, exploring new business opportunities, and developing innovative products and solutions to bolster our sustainable growth moving forward,” the CEO of the company noted.

Bashundhara Paper Mills, a concern of Bangladeshi conglomerate Bashundhara Group that manufactures paper and different diversified tissue items, has recommended an 11% cash dividend to its shareholders for the 2022-23 fiscal year. 

In a meeting held on Monday (29 October), the board of directors approved the dividend for the shareholders.

Earlier in the previous fiscal year, the company had paid a 10% cash dividend to its shareholders.

According to its financials, despite a 17% growth in net revenue to Tk1,318 crore, its net profit declined by 10% to Tk45.50 crore.

The earnings per share (EPS) stood at Tk2.62, which was Tk2.92 in the previous fiscal year.

The annual general meeting will be held on 20 December through the digital platform, and the record date has been fixed on 21 November.

Walton Hi-Tech Industries made a profit of Tk202 crore in the July-September quarter of the fiscal year 2023-24.

The company incurred a loss of Tk46 crore in the same quarter a year ago.

During the first quarter of this fiscal year, its earnings per share was Tk6.67.

The company said in its price sensitive statement, its profit margin increased to 22.58% in the first quarter of FY2023-24 from 18.65% in the same quarter a year ago.

Despite escalating expenses and the dollar becoming pricier, Navana Pharmaceuticals Limited has registered the highest-ever revenue and profit in the fiscal 2022-23. The stellar business can be attributed to the company’s strategy of ramping up the production of high-selling drugs.

In FY23, the publicly listed drug-maker’s revenue jumped by 20% year-on-year and stood at Tk570 crore, while its net profit surged 31% and stood at Tk35.69 crore.

Abu Hurayra, chief financial officer (CFO) at Navana Pharma, told The Business Standard, “Most pharma companies are now facing challenges and seeing business slowdown because of the increase in the prices of raw materials due to appreciation of the dollar, and also because of higher utility cost.”

“But thanks to our collective drive on sales, we have managed to maintain growth in both revenue and profit.”

“When the raw materials became costlier, we adopted the strategy of boosting the production of high-end drugs, which helped to post such handsome numbers.”

“It’s not like the rising expenditures did not have any impact on our business at all. But because of our higher sales, the impact was not as severe as it was for other firms,” he added.

Owing to an increase in profit, Navana Pharma declared a 13% cash dividend for FY23. In the previous fiscal, it paid an 11% cash dividend.

Despite the company’s whopping business performance, its share price at the Dhaka Stock Exchange (DSE) inched down to Tk84.8 apiece on Monday from the previous day’s trade.

The annual general meeting (AGM) will be held on 28 December through a digital platform, and record date has been fixed on 19 November to identify the shareholders eligible for the dividend.

The net asset value increased by 15% to Tk437.24 crore, and its net operating cash flow per share declined 27% to Tk1.80 owing to increase in the number of ordinary shares for the initial public offering (IPO).

Navana Pharmaceutical had raised Tk75 crore from the stock market through an IPO in 2022.

Incorporated in 1986 in Bangladesh, Navana Pharma produces both human and animal drugs.

The veterinary division manufactures and markets more than 123 high-quality medicines and feed supplements for different segments including poultry, dairy, and aqua products.

On the other hand, the human health division produces more than 277 drugs – tablets, capsules, oral liquids, ampoules, dry powder vials, powder for suspension, eye drops, creams, ointments, etc.

Navana Pharma sells these products in the domestic and international markets. It exports products to 15 countries.

Singer Bangladesh posted a 360% profit growth in the January-September period of 2023 compared to the same period of the previous year.

In the first nine months of the running year, the company’s net profit after tax stood at Tk67.08 crore, which was Tk14.57 crore a year ago.

Besides, Singer’s earnings per share in the period stood at Tk6.73, which was Tk1.46 in the same period of the previous year.

Its net asset value per share stood at Tk35.71 at the end of September this year.

In the July to September quarter, its net profit stood at Tk8.77 crore, which was a loss of Tk8.50 crore a year ago.

This quarter, its earnings per share was Tk0.88, which was a per-share loss of Tk0.85 in the same period of the previous year.

The share price of the company closed at Tk151.90 on the Dhaka stock exchange on Thursday.

Borak Real Estate — a concern of the Unique Group — is planning to raise Tk400 crore from the capital market through an initial public offering (IPO) under the book-building method. 

On Wednesday, the company arranged a roadshow at the hotel Sheraton Dhaka where the company presented its business status and future plan to the eligible investors.

Of the IPO fund, Borak Real Estate will use Tk200 crore for constructing a seven-star hotel in Gulshan, Tk100 crore for Hotel Taj, and Tk100 crore for loan repayment.

According to its prospectus, the real estate company’s profit in the fiscal 2022-23 stood at Tk652 crore that was 20 times of what it was in the previous fiscal, despite its revenue declining to Tk74 crore from Tk94 crore year-on-year.

When questioned by institutional investors about the substantial growth in profit, the company explained that it earned Tk700 crore from fair value gain on revaluation. This addition to its profit is the reason behind the surge in profitability.

Noor Ali, Managing Director of Borak Real Estate, stated at the event that investors will not be deceived if they invest in Borak. He emphasized that neither he nor his family engages in dishonest practices. He acknowledged that some oppose his work out of jealousy and requested not to take these oppositions into account.