Representational image. Photo: Collected

Evince Textiles Limited, a publicly listed firm, has decided to invest Tk14.62 crore in purchasing capital machinery to expand its denim fabric production, according to a disclosure published on the stock exchange’s website. 

Following the investment disclosure, Evince Textiles’ share price hit the upper limit with a 10% gain to Tk11 each on the Dhaka Stock Exchange (DSE) yesterday.

According to the disclosure, the textile firm will purchase a set of continuous denim dyeing sizing machines and a high-speed warping machine with standard accessories, originating from Taiwan.

The total cost, including freight charges, amounts to $1.2 million. Calculated at an exchange rate of Tk121.86 per US dollar on 30 August, this is equivalent to Tk14.62 crore, the disclosure read.

According to its unaudited financials, the company in the first nine months of the 2024-25 fiscal year reported a 17% decline in revenue to Tk249 crore and incurred a loss of Tk2.15 crore, with a loss per share of Tk0.12.

The firm attributed this production loss of about 25.30% in its Q3 report to several factors, including the scarcity of gas supply, political turmoil, worker unrest affecting the garment industry (its customers), and a banking crisis.

In the last FY24, it witnessed a significant jump in revenue with around 44% gain to Tk407 crore.

With the significant jumps in revenue, its net profit soared by 661% to Tk10 crore with an earnings per share (EPS) of Tk0.58. 

It had paid 2.5% cash dividend to its shareholders, and its shares are trading under the B category.

Evince Textile got listed on the stock exchange in 2016, and its paid-up capital is Tk18.37 crore divided by 18.37 crore shares.

The principal activities of the company is to manufacture 100% cotton yarn dyed woven fabrics. 

As of 31 July, out of its total shares, sponsor-directors held 32.94% stake, while institutional investors 13.90%, and general investors held 53.16% stake in the company.

Source: The Business Standard

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Bangladesh Finance, known as BD Finance, reported that its consolidated earnings per share dropped by 64% in the first half of this year.

During the January to June period of 2025, the consolidated EPS was Tk0.12, which was significantly lower from Tk0.33 in the previous year at the same time.

The company said, profit decreased mainly due to a decline in net interest income and investment income compared to the corresponding period of the previous year.

Despite the profit drop, its share surged by 1.87% to reach Tk10.90 today (20 July).

At the end of June, its consolidated net asset value per share was Tk29.92 negative.

Earlier, the non-bank financial institution reported that it incurred a consolidated net loss of Tk780 crore in 2024 mainly due to heavy provisioning against rising non-performing loans.

As a result, the board of the company decided not to pay dividend for 2024, citing a negative equity position. In 2023, it did not pay any dividend.

The company attributed the sharp downturn to regulatory provisioning requirements, including those for bad loans, margin loan deficits, and equity investments.

BD Finance also said the measures were necessary to restore balance sheet strength and ensure long-term stability.

The Dhaka Stock Exchange downgraded the company’s share to Z category due to the failure to pay dividend for the last two consecutive years.

Source: The Daily Star

Read More at: csslbd.net

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Grameenphone, country’s largest telecom operator, reported that its profit dropped by 31% to Tk1,513 crore in the first half of this year.

Besides, the board of the company also decided to pay 110% cash dividend as interim dividend to its shareholders. To make the dividend available for shareholders, it set the record date for 13 August.

According to the financial statement published on its website, the earnings per share of the company stood at Tk11.21 in the January-June period.

Its revenue also fell by 3% to Tk7,938 crore compared to the previous year at the same time.

In the April-June quarter, Grameenphone’s profit rose by 2% to Tk879 crore.

Yasir Azman, chief executive officer of Grameenphone, said in a press release, “We have been navigating a challenging economic downturn since the second half of last year, that has put significant pressure on businesses across sectors, including telecom.

Despite the tough macro-economic environment, our strategic measures are starting to yield results. This quarter, robust cost discipline alongside QoQ revenue growth contributed to a 2% improvement in net profit year-on-year. 

“As part of our commitment to creating long-term value for our shareholders, we will be maintaining our dividend payouts to provide you with consistent and reliable returns. We are declaring interim dividend of Tk11 per share for the first half of 2025.” 

“This year, for the first time in Bangladesh, Hajj pilgrims were able to use their local mobile balance in taka while roaming internationally-a major regulatory milestone achieved through strong industry and government collaboration. One of the key aspects of our transformation journey is digital growth, where we see MyGP continues to be a benchmark for digital platforms in the telecom sector as the largest local self-service app in Bangladesh, now engaging 22.5 million monthly active users. 

“Looking ahead, we’re stepping into the future with purpose—and that future is AI-led, it’s not a choice anymore, it’s inevitable. We are equipping our people and leadership team, rethinking our operations, and developing AI-driven models to boost efficiency, drive growth and provide better customer experience,” he added.

Source: The Business Standard

Read More at: csslbd.net

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Officials and bankers say such change in the forex-management strategy was observed following recent trade in the American greenback by the country’s central bank.

Since September last, the Bangladesh Bank (BB) had intensified its focus on buying more dollars from the market to prop up the country’s fast-depleting foreign-exchange reserves as the push reportedly came from the urgency of hitting the NIR (net international reserve) target set by the International Monetary Fund (IMF) in its $4.70-billion lending package to stabilise the country’s macroeconomic condition.

As the forex market became extremely volatile with the exchange rate overshooting Tk 127 in mid-December after a sudden demand surge for the dollar, the banking regulator backtracked on its dollar-buy plan by effectively meeting the NIR ceiling. As such, it ceased purchasing the US currency from the market, according to them.

According to BB data, the central bank purchased $10 million in August last followed by $88.50 million, $47 million and $47.5 million in September, October and November respectively.

Until December 19, 2024, the regulator had bought 59 million from the commercial banks. Since then up to January 13, 2025, the central bank did not buy a single penny from the market.

Seeking anonymity, a BB official said they decided not to buy any dollar from the market considering current state of the forex market. “If we continue buying dollars from the banks, it might put more pressure on the market that we don’t want,” says the official, in an experience-driven change of mind.

Hailing the decision, the central banker says it is also helping to cool the overheated forex market alongside growing inflow of US dollars in the form of remittance and export receipts.

Managing Director and Chief Executive Officer of Mutual Trust Bank (MTB) Syed Mahbubur Rahman says the pressure of forex demand in banks had gone up significantly last month, creating some sort of volatility in the exchange rate.

“Considering the market scenario,” he says, “the central bank might make such temporary policy shift probably to lessen the burden on the banks.”

Dr M Masrur Reaz, an economist and chairman of Policy Exchange of Bangladesh, also sees it as a positive change in the BB strategy to maintain price stability on the forex market following an abrupt demand surge within a short period of time last month.

“The central bank needs to create a forex-intervention fund through which it can stabilise the market either buying or selling considering the market demand,” he suggests.

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This will bolster domestic revenue collection and reduce dependence on external borrowing, said the member, Muhammad Abdul Mazid, also a former chairman of the National Board of Revenue (NBR).

He recently shared insights on this critical issue in an interview with The Daily Star.

Mazid highlighted the necessity of separating tax policy formulation from tax administration, a move also advocated by International Monetary Fund (IMF) under its $4.7 billion loan programme for Bangladesh.

“When the NBR is tasked with tax collection targets, its policy measures often prioritise meeting those targets, sometimes at the expense of equitable taxation and sectoral growth,” he said.

The advisory panel’s mandate spans various areas, including restructuring legal and regulatory frameworks, broadening the tax base, digitalising the tax administration, and combating corruption.

Other priorities include improving taxpayer services and dispute resolution mechanisms, and internal controls, while curbing aggressive tax evasion practices.

Mazid also emphasised on the need to reduce the discretionary powers of tax officials and eliminate provisions such as the minimum tax for individuals and turnover-based taxes for firms.

These measures aim to foster fairness and transparency within the tax system, he said. He shed light on key hurdles in revenue administration, including centralised structures, limited managerial capacity, and inadequate enforcement mechanisms.

Mazid noted that these inefficiencies discourage compliance, particularly among honest taxpayers, and create an uneven playing field between formal and informal sectors.

“Tax disputes often arise due to arbitrary assessments by tax officials,” he added.

To address this, he said the panel recommends establishing independent tax tribunals with judges from the judiciary to ensure impartiality in dispute resolution.

The introduction of a tax ombudsman is also under consideration to provide aggrieved taxpayers with an alternative avenue for redress, he said.

Building taxpayer confidence is crucial for improving compliance, Mazid said.

“When taxpayers see public funds being used effectively and corruption minimised, they are more likely to fulfil their tax obligations,” he explained.

He also criticised contradictory fiscal policies that allow lawmakers to enjoy tax-free benefits, undermining public trust in the system.

The advisory panel will call for reforms to align revenue administration practices with modern business activities and counter sophisticated tax evasion schemes, said Mazid.

This includes strengthening human resource capacity, revising disciplinary rules for public servants, and ensuring strategic financial management within revenue departments, he said.

The panel is actively engaging with stakeholders, including businesses, tax officials, civil society, and fiscal experts, to finalise its recommendations. It has already submitted a preliminary report to the government outlining reform proposals, he said.

Mazid stressed that revenue reforms must strike a balance between achieving revenue objectives and fostering an investment-friendly environment.

“Good tax policies support equitable, inclusive, and sustainable growth while minimising administrative burdens,” he said.

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