...Regulations 2006 * 3.Unlisted Subsidiaries of listed companies can become listed through issuance of specie dividend, right shares or any similar distribution in accordance with The Listing Regulations of the Dhaka Stock Exchange Limited Listing Process is regulated by two regulations at Dhaka Stock Exchange Limited (DSE). They are: 1.The Listing Regulations of the Dhaka Stock Exchange Limited 2. The Dhaka Stock Exchange (Direct Listing) Regulations 200 General stages and relevant processes of listing with DSE through IPO 1. Decision to go Public * Appoint Issue Manager from Bangladesh Securities and Exchange Commission (BSEC) approved Issue Managers * Decide method of IPO with assistance from Issue Manager – Fixed Price or Book Building * In case of IPO under Book Building - Get Accounts audited by BSEC approved Panel of Auditors * Initiate process for credit rating - Mandatory for Bank, Insurance, NBFI and any issue with offer price at premium * Develop a Company Website with publications of Company Financials 2. Prepare Draft Prospectus * Assist Issue Manager in preparing Draft Prospectus in accordance with Securities and Exchange Commission (Public Issue) Rules, 2006 * Appoint Bankers to Issue, Underwriters etc. * In case of IPO under Fixed Price Method fix a offer price and justify the same in accordance with rules mentioned in the Securities and Exchange Commission (Public Issue) Rules, 2006 ...
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...Introduction: Performance measurement of a company has been the subject matter of discussion to the planners, administrators, managers, economists and academicians since long. There is a need for comprehensive consideration company so that their performance can be objectively evaluated. The major indicators may be – I. Liquidity Ratio II. Profitability Ratio III. Solvency Ratio IV. Efficiency / Activity Ratio V. Common-size Statements VI. Trend Analysis VII. Multivariate Model of Distress Prediction. Scope of the Study: Eastern Cables Ltd. is the holding Cables organization carrying operation in Bangladesh. This Study is limited to only Eastern Cables Ltd. This Study could not cover other private business operating in Bangladesh mainly because of difference in objectives and management structure. The empirical analysis of the Study covered 5 years ranging from 2000 to 2005 Methodology of the Study: The key areas of performance evaluation can be identified as financial performance, managerial performance, operational performance, marketing performance or the overall performance. A proper evaluation of the financial performance of any company can be done through the techniques of financial analysis of the accounting data presented in the financial statements which includes mainly – I. Balance Sheet II. Profit & Loss AIC and ...
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...An Assignment on “DEMUTUALIZATION” Course: Security Analysis & Portfolio Management (4203) Assigned By Dr. Mahmuda Akter Professor Dept. of Accounting & Information System University Of Dhaka Assigned To, Md. Robiul Alam Section-A, ID-16058, A&IS 16th Batch Dept. of Accounting & Information System University Of Dhaka Submission Date-20july,2013 Demutualization-A preface Metallization is the process by which a joint stock company changes legal form to a mutual organization or a cooperative, so that the majority of the stock is owned by employees or customers. Demutualization or privatization is the reverse process. Demutualization is the current trend among stock exchanges all over the world. It is the process of converting an organization from a mutual entity to a shareholder owned corporate body. Traditionally, stock exchanges operated as club-like mutual organizations where traders/brokers were the owners of the exchange as well as recipients of its services. Many stock exchanges operated on a not-for-profit basis; excess income was not distributed among the members as profit. The members were the owners of the exchange and also its customers. This is a distinguishing feature of traditional exchanges. On the other hand, in a profit making corporate body, the owners, decision makes and customers are three separate groups. By demutualization, an exchange’s mutual ownership structure is changed to a share ownership structure, therefore...
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...Bangladesh Securities and Exchange Commission (BSEC) The Bangladesh Securities and Exchange Commission (BSEC) was established on 8th June, 1993 as the regulator of the country’s capital market through enactment of the Securities and Exchange Commission Act 1993. Through an amendment of the Securities and Exchange Commission Act, 1993, on December 10, 2012, its name has been changed as Bangladesh Securities and Exchange Commission from previous Securities and Exchange Commission. The Commission consists of a Chairman and four Commissioners who are appointed for fulltime by the government for a period of four years and their appointment can be renewed only for further one term, but the condition is that age cannot exceed 65 in position during the tenure. The Chairman acts as the Chief Executive Officer (CEO) of the Commission. The Commission has overall responsibility to formulate securities legislation and to administer as well. The Commission is a statutory body and attached to the Ministry of Finance. Mission of the BSEC is to: Protect the interests of the investors in securities. Develop and maintain fair, transparent and efficient securities markets. Ensure proper issuance of securities and compliance with securities laws. Financial Accounting Standards Board (FASB) Since 1973, the Financial Accounting Standards Board (FASB) has been the designated organizations in the private sector for establishing standards of financial...
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...settles all financial transactions with the Stock Exchanges clearing departments. This department must be function under the rules & regulations of Bangladesh Securities and Exchange Commission (BSEC) and Stock Exchanges. Several tasks of accounts department has stated here. Reconciliation of customers’ trade • Receive account opening fees by cash or cheque. • Receive client cheque against share transactions (As initial deposit). • Client cheque deposit in the customers’ clearing bank account. • Give the consent to the trading department for execution of customer trade after getting the confirmation from the bank deposited; if cheque is honor in the bank account. • Client trade are reconcile after execution of trade. Customer’s clearing account fund management • Every business day customer clearing bank account balance will be checked with the bank statement through online • Check & verify the clients available balance for a new trading day • Daily fund management report forward to the management by 10.00 am Fund Settlement with the Stock Exchanges • Collect the report from Stock Exchanges • Reconcile clients transactions with the DSE report • Check and reconcile customer clearing bank account balance • Stock Exchanges payment settlement ensure • Posting the vouchers payment voucher into...
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...Thesis Title: Fire Hazards in Dhaka City: An Exploratory Study Introduction Whereas, Dhaka, the capital city of Bangladesh has grown up haphazardly since the period of liberation creating the embryo of fire hazard and resulting into death, injuries as well as property damage. In fact, fire incidents have been recognized significant cause behind the greatest loss of life and property in Dhaka city. At present, Dhaka city is crowded with estimated population of more than 15 million people (Source: wikipedia), making one of the largest cities in the world having population density of 45,000/km2 or 115,200/sq mile (Source: wikipedia). With the passage of time, this ratio of density is ever increasing. Due to climate change issue, rural people are migrating to Dhaka city with an expectation of having least required livelihood. To meet up the need for habitation of these migrated people, more and more slums are being established without following any rules and plans. Unplanned city growth has also lead to the development of congested and unhealthy slums that are generally built with flammable materials. As a result, in the event of a fire, the fire spreads very rapidly causing great damage. There are many people in the city who lack knowledge about the safety or precautionary measures one should take to prevent a fire incident at their home or workplace. In addition, not many people also have proper knowledge or training about the preventive measures that the community should take...
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...functioning of capitalistic economy, since they serve the channel funds from savers to borrowers. The securities market allows sound listed companies to raise additional capital quickly and cheaply, as they enjoy reputation. A vibrant and liquid securities market encourages increase in savings by offering attractive and rewarding securities in terms of higher return, lower risk and easy option for conversion to cash. Investors in Bangladesh became increasingly interested in equity markets because many entrepreneurs look for requirements from the equity markets for many reasons. For this regard floating securities through IPO in the stock market is very analytical task and the whole procedure is the main focus of this report. OBJECTIVES OF THE STUDY The main objective of the report is to comprehensive study on Dhaka detailed procedure of IPO, the performance evaluation of IPO based on the year 2012 and to find out the problems inherent with this. The following are the other objectives of the study- * To identify the advantages and disadvantages of IPO Process. * To identify the requirements to be fulfilled by the companies for collecting capital through IPO. * To discuss the analyzing process of the Draft Prospectus submitted by the companies willing to be held for IPO. * To know the performance of the post IPO companies. * To know the relationship of the company having IPO with market index. METHODOLOGY OF THE STUDY * Type of research The task of business research is...
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...Russia Attractiveness Report Overview Russia is a country located in northern Eurasia bordering the Arctic Ocean between Europe and North Pacific Ocean. Neighboring countries include Azerbaijan, Belarus, China, Estonia, Finland, Georgia, Kazakhstan, North Korea, Latvia, Lithuania, Mongolia, Norway, Poland, and Ukraine. The geography is diverse and includes vast forests and tundra in Siberia and mountains along the southern borders. The government system is a federation. The chief of state is the President and the head of government is the Premier. Russia has transitioned from a centrally planned economy to a more market-based economy in which many state-controlled firms have been privatized and sectors of the economy are liberalized. Russia is a member of the Eurasian Economic Community (EAEC), Asian Pacific Economic Cooperation (APEC), and Black Sea Economic Cooperation (BSEC). With a population of 142 million people and a place within the top 10 economies of the world, Russia is, without a doubt, an emerging economic powerhouse. Since late 1999 and the beginning of high oil prices and the arrival of President Putin, the economic situation in Russia has stabilized and in many cases even flourished. On the back of revenues from oil and gas the economy has been given the chance to consolidate and diversify and Russia has climbed to become the EU’s third trading partner, with growth rates of around 6-7% over the last 10 years and Foreign Direct Investment per capita exceeding...
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... Letter of Transmittal 25th March 2014 Prof. Tanvir Ahmed Chowdhury Chairman Department of Business Administration East West University Dear Sir, It gives us immense pleasure to present our term paper on the topic “ An Analysis on Bangladesh Securities and Exchange Commission, for the course Financial Institution and Market (FIN_335). By doing this paper we have learned a lot practical issues regarding BSEC , Capital Market, Stock Market, Bond Market etc and we think that will help us in our near future. We would like to thank you for your valuable guidance in every problem we had the precious time that you give us. We will be available for any further clarification required and requesting to accept our term paper. Thank you Sincerely All the Members of Holistic Heroes Syed Md. Fakruuddin Nahid Hasan Sayma Sultana Al Mumtahina Shuovy Asma Sultana Nusrat Sharmin Eva Table of content | Page no | Introduction | 6 | 1.0.0 Bangladesh Securities and Exchanges Commission | 7 | 1.2.0 Function of BSEC | 9 | 2.0.0 Capital Market | 10-13 | 3.0.0 Primary Market | 13-23 | 4.0.0 Secondary Market | 23-30 | 5.0.0 Regulation for the Protection of the Market | 31-37 | 6.0.0 Market Senility | 37-39 | 7.0.0 Problems in the Stock Market | 39-40 | 8.0.0 Suggestions for the Stable Market | 40-44 | 9.0.0 Conclusion | 45 | Introduction: The capital market of Bangladesh is passing through a period of...
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...1 ANNUAL REPORT 2014 Table of contents ABOUT THE COMPANY Letter of Transmittal Corporate Information Milestones Board of Directors and Management Brand Values Products 3 4 5 6 -8 9 10 OPERATING RESULTS Summary of Key Operating & Financial Data 11-12 AGM & COMPANY PERFORMANCE Notice of 35th Annual General Meeting Chairman’s Message to Shareholders Report of the Board of Directors 13 14 ANNUAL REPORT 2014 15 - 19 1 Table of contents COMPLIANCE REPORT Corporate Governance Compliance Report 20 - 38 FINANCIAL RESULTS Auditors’ Report to the Shareholders Statement of Financial Position Statement of Comprehensive Income Statement of Changes in Shareholders’ Equity Statement of Cash Flows Notes to the Financial Statements Unit-wise Working Result Schedule of Non- Current Assets Certificate on Review of financial statements PROXY FORM 39 - 40 41 - 42 43 - 44 45 46 - 47 48 - 80 81 - 82 83 - 84 85 ANNUAL REPORT 2014 2 Letter of Transmittal December 6, 2014 Esteemed Shareholders Bangladesh Securities and Exchange Commission Dhaka Stock Exchange Limited Chittagong Stock Exchange Limited Registrar of Joint Stock Companies and Firms Dear Sir or Madam, Subject: Annual Report for the year ended June 30, 2014 It is our pleasure to inform you that the 35th Annual General Meeting of Olympic Industries Limited will be held on Wednesday, December 24, 2014 at 10:00 AM at our 2nd biscuit factory premises at Lolati, P.S. Sonargaon, District...
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...Fire is one of the notable human induced disasters in Bangladesh. Every year, hundreds of people die and many are injured due to fire accidents. In last two years, more than 15,000 fire incidents took place throughout the country and most of the them occured in Dhaka and Chittagong. Some of those fire accidents are given below : Tazreen fire accident: A devastating fire broken out in Tajreen Fashion Limited, a sister concern of Tuba Group at Nischintapur, Ashulia, Saver, Dhaka on 24 November at 6:30 pm and it was managed to bring the blaze under control at around 6 am, after more than 11 hours of frantic efforts.The fire broke out in the Westside of the ground floor that was being used as a warehouse and was full of inflammable cloths, yearns and garments accessories. As a result the fire spread up to the upper floors as it could not be tamed immediately. The mid level officials prevented workers from leaving the building after the fire had broken out. Total death & injured workers: •Date of Incident: 24 November 2012 • Place of Incident: Tazreen Fashion Limited, Nischintapur, Ashulia, Saver, Dhaka • Total Number of Death: A total of 111** workers died as per Govt. statistic. Among them 58 dead body has been identified and rest of 53 dead body was unidentified. The identified 58 dead body was handed over to deceased family members or relatives. The unidentified 53 dead body was lied down in Jurain Graveyard. After identification of legal successor through DNA test these...
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...Bangladeshi subscription closes on: 29th July, 2014 Issue manager IDLC Finance Limited Bay’s Galleria (1st Floor), 57 Gulshan Avenue, Gulshan 1 Dhaka-1216 Underwriters IDLC Finance Limited Bay’s Galleria (1st Floor), 57 Gulshan Avenue, Gulshan 1 Dhaka-1216 LankaBangla Securities Limitted A.A. Bhaban (Level-5), 23 Motijheel C/A Dhaka- 1000 The City Bank Limited Jiban Bima Tower, 10, Dilkusha C/A Dhaka- 1000 Green Delta Insurance Co. Ltd. Hadi Mansion (4th Floor), 2, Dilkusha C/A Dhaka- 1000 Bankers to the issue HSBC Bank Asia Limited The City Bank Limited Citibank, N.A. BRAC Bank Limited Eastern Bank Limited IFIC Bank Limited EXIM Bank Limited National Bank Limited Date of BSEC consent: 8th June, 2014 Date of issue of prospectus: 10th June, 2014 “ Consent of the Bangladesh Securities and Exchange Commission has been obtained to the issue/ offer of these securities under the securities and exchange ordinance, 1969, and the Bangladesh Securities...
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...Report on Corporate Frauds & the Role of the auditors: Bangladesh Perspective Faculty of Business Studies University of Dhaka SUBMITTED TO Tahmina Ahmed Lecturer Accounting & Information Systems University of Dhaka SUBMITTED BY Group 18 Date of submission:10.11.14 Group members Name | ID | 1.Sajjad Hossain Sohan | 18022 | 2.Rubina Akther | 18048 | 3.Mohammad Saadman | 18052 | 4.Rumi Akther | 18066 | 5.Hilary Talukder | 18099 | November 5, 2014 Tahmina Ahmed Lecturer Dept. of Accounting & Information Systems University of Dhaka Subject: Submission of report on “Corporate fraud & the role of the auditor: Bangladesh Perspective” Dear Sir, We are honored and pleased to inform you that as per the requirements, we worked on the issue of the preparation of a report based on the corporate frauds & the role of the auditor in Bangladesh perspective. To fulfill the report objective, we analyzed & reviewed some of the secondary information available on the internet related to the topic.. Based on our classroom knowledge on the related issues, we tried to make the report as specific and unique as possible. We humbly submit this report for your review and feedback. Preparation of this report demanded a minimum level of working knowledge of the process of audit & assurance . We also tried to follow your instructions properly now and when necessary. We would like to request you to allow us to submit...
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................... 7 8. BIBLIOGRAPHY .................................................................................................................... 8 1|Page Greek Sovereign Debt Crisis 1. Introduction The economy of Greece is the 45th largest in the world with a nominal gross domestic product (GDP) of $238 billion per annum. It is also the 51st largest in the world by purchasing power parity at $286 billion per annum. As of 2013, Greece is the thirteenth-largest economy in the 28-member European Union. Greece is classified as an advanced, high-income economy, and was a founding member of the Organisation for Economic Co-operation and Development (OECD) and the Organization of the Black Sea Economic Cooperation (BSEC). The country joined what is now the European Union in 1981. In 2001 Greece adopted the euro as its currency, replacing the Greek drachma at an exchange rate of 340.75 drachmae per euro. Greece is a member of the International Monetary...
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...I. Information Asymmetry Information asymmetry exists in transactions where one party has more or better information than the other leading to an imbalance of power. Adverse Selection is the associated problem of information asymmetry that arises before the parties to a contract reach an agreement. It occurs when bad credit risks (firms with poor investment channels and high inherent risks) become more probable to acquire loans than good credit risks (firms with better investment opportunities and less inherent risks). Moral Hazard is the associated problem of information asymmetry that arises after the parties to a contract reach an agreement. It arises when the borrower has an incentive to breach the loan covenants by investing in ‘immoral projects’ which are unacceptable to the borrower and also have a high possibility of default. Both these risks occur because of the lenders’ imperfect knowledge about the borrowers and their activities. For Financial institutions, information asymmetry inherent to credit disbursement is a key risk that needs to be managed. II. Bangladesh Bank Guidelines for Credit Risk Management As the central bank and apex regulatory body for the country's monetary and financial system, Bangladesh Bank provides a number of recommended policy and procedural guidelines to the financial sector that are directional in nature and aims to improve the risk management culture. Policy guidelines of Bangladesh Bank include Lending Guidelines, Credit Assessment...
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