Beximco returning debenture dues of 2005
Star Business Report
Star Business Report
Beximco at last is going to return money of general investors who invested in its two debentures in 1995.
The tenure of the debentures ended in 2005 but many investors are yet to get their money back.
Debentures are debt instruments issued by companies in order to raise funds for a certain period of time, most often for 10 years. During this period, investors who purchased a debenture will receive interest against their investment. As per the information of Investment Corporation of Bangladesh (ICB), Beximco Limited has taken initiative to settle liabilities of debenture holders of Beximco Denims Limited and Beximco Textiles Ltd issued by Beximco Limited, where, ICB has been working as Trustee, the DSE said in post yesterday.
Depending on the profits earned, investors are then paid their share as dividends.
As of March 2021, 29 asset management companies in the country are managing a total of Tk 13,420 crore under 101 mutual fund schemes.
Some 64 of these schemes are open-ended mutual funds that have a combined asset value of Tk 10,380 crore.
In 2018 and 2019, all open-ended funds generated an average excess return of 7.5 per cent and 9.6 per cent respectively over stock market movement.
Some fund managers have provided dividend yields of more than 8 per cent year-after-year while others paid 12 to 15 per cent cash dividends even amid the ongoing Covid-19 crisis in 2020. Return on investments on open-ended mutual funds are better compared to bank deposits, said Mahmood Osman Imam, a professor of finance at the University of Dhaka.
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Bangladeshi entities top SAFA award for best published annual reports
Star Business Desk
Star Business Desk
Bangladeshi entities have performed exceptionally well at the SAFA Best Published Annual Reports Award competition 2019 as they topped the list in eight categories for the south Asian region.
The companies were Bank Asia, Reliance Insurance, IDLC Finance, Orion Pharma, Grameenphone and Golden Harvest Agro Industries.
Moreover, Reliance Insurance was awarded as the overall winner , the Institute of Chartered Accountants of Bangladesh (ICAB) said in a statement yesterday.
SAFA is the association of the national chartered accountancy and cost and management accountancy institutions in the Saarc countries, namely Bangladesh, India, Pakistan, Nepal, Sri Lanka, Maldives and Afghanistan.
Reazul Bashar and Farhan Fardaus,
bdnews24.com
Published: 19 Dec 2020 08:32 PM BdST
Updated: 19 Dec 2020 08:32 PM BdST
The direct listing fiasco of Best Holdings Limited has become murkier as new questions surfaced over how it used the name of a government company as its issue manager in a bid to raise about Tk 3 billion from the capital market. );
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The controversial plan by Best Holdings, the owner of Le Méridien Dhaka hotel, has been under intense scrutiny since Bangladesh Securities and Exchange Commission in a letter on Dec 15 blocked Dhaka Stock Exchange’s attempt to list it.
The office of Finance Minister AHM Mustafa Kamal also suspended a letter recommending changes to the requirements for infrastructure development companies’ direct listing plans after the media reported the content of the letter and SEC’s subsequent move.