reports
- Rayhan Ahmed
EconoInsights_Monthly Economic and Capital Market Overview_March 2024
Bangladesh's major economic indicators have shown resilience in recent times, defying the prevailing adversities. Exports crossed the USD 5 billion mark for three consecutive months, which is providing a cushion to the much-needed fiscal space, while the country’s GDP grew at an estimated 6.07% in the first quarter of FY’24 despite challenges like high inflation, dwindling foreign exchange reserves, financial account deficits, and exchange rate volatility. However, the World Bank downgraded Bang...
- A K M Arif Uzzaman Arif Uzzaman
A Review of the Islamic Mutual Funds in Bangladesh
The Islamic mutual fund industry in Bangladesh started its journey with the launch of country’s first Islamic mutual fund, named 'IFIL Islamic Mutual Fund-1', a closed-end fund floated by ICB Asset Management Company Limited in 2010. Subsequently, in 2016, Asian Tiger Capital Partners Investments Limited launched Bangladesh’s first open-end Islamic mutual fund named "ATC Shariah Unit Fund". At present, there are 14 open-end Islamic mutual funds and 4 closed-end Islamic mutual funds operating in ...
- Rayhan Ahmed
Equity Note on Reckitt Benckiser Ltd. (RECKITTBEN)
Reckitt Benckiser (Bangladesh) PLC is engaged in manufacturing and marketing of Household, Toiletries and Pharmaceutical products. The company is a multinational company with its parent company Reckitt Benckiser Limited, UK (82.96%) being the majority shareholder.
- Rayhan Ahmed
IPO Note on NRB Bank Limited (NRBBANK)
NRB Bank Limited (NRBBANK) is a 4th generation private bank in Bangladesh that offers commercial banking services to its corporate, SME and retail customers through 50 branches across the country. NRB Bank Limited has highest loan exposure in Corporate Loan segment (65.27%), followed by SME Loan (25.84%) and Consumer Loan (8.52%) segments.
- Rayhan Ahmed
IPO Note on Asiatic Laboratories Limited (ASIATICLAB)
ASIATICLAB manufactures and sells a wide range of Biological & Non-Biological pharmaceuticals products in the dosage form of tablets, capsules, syrups, creams, injections etc. in the local & international market (10 countries). Based on the geographic location of the market, ASIATICLAB derived the majority of its revenue from local market, constituted 90.2% of its total revenue for the period of FY’22, which was 66.7% of total revenue as on FY’21. The company generated rest of the revenue from t...
- Rayhan Ahmed
EconoInsights_Monthly Economic and Capital Market Overview_February 20...
Bangladesh's major economic indicators have shown resilience. Exports hit an all-time single month high at USD 5.72 billion in Jan-24, while the GDP grew at an estimated 6.07% in the first quarter of FY’24 despite challenges like high inflation, dwindling foreign exchange reserves, financial account deficits, and exchange rate volatility. However, the World Bank downgraded Bangladesh's growth projection for the current fiscal year to 5.2%, citing adverse impacts from global economic changes in t...
- Rayhan Ahmed
EconoInsights_Monthly Economic and Capital Market Overview_January 202...
Bangladesh's major economic indicators have been under strain owing to various internal and external factors, such as high inflation, dwindling foreign exchange reserves, financial account deficits, exchange rate volatility etc., although concerns regarding political uncertainties have somewhat subsided following the national election. Nevertheless, the recent economic growth forecast from the central bank was 6.5%, which falls short of the government's ambitious target of achieving 7.5% GDP gro...
- Rayhan Ahmed
IPO Note on Best Holdings Ltd (BESTHLDNG)
Best Holdings Limited (BESTHLDNG) is primarily involved in providing hospitality services. The company is also engaged in national infrastructure development, agricultural projects and rental service of commercial spaces. BESTHLDNG is the owner company of hotel Le Méridien, a 15 storied 5 Star Hotel with 304 guest rooms. BESTHLDNG plans to allocate 63.2% (BDT 2,210.92 Mn) of the IPO proceeds for the construction of “The Muslin, A Luxury Collection”, a five-star resort in Bhaluka, Mymensingh. Th...
- Rayhan Ahmed
Equity Note on Bangladesh Submarine Cable Company Limited (BSCCL)
Bangladesh Submarine Cable Company Limited (BSCCL) is a core telecommunications service provider and international submarine cable operator of Bangladesh. It also operates as an International Internet Gateway (IIG) service provider. BSCCL is a member in both SEA-ME-WE-4/ SMW4 (South East Asia–Middle East–Western Europe 4) and SEA-ME-WE-5/ SMW5 (South East Asia–Middle East–Western Europe 5) consortiums that provide more capacity and redundancy in submarine cables for Bangladesh. BSCCL has signed ...
- Rayhan Ahmed
EconoInsights_Monthly Economic and Capital Market Overview_November 20...
Bangladesh’s economic landscape is grappling with mounting challenges due to a combination of various internal and external factors, along with an apprehension of further economic strain as political conflicts intensify surrounding the impending national election. Meanwhile, the downbeat vibe in the capital market persists as investors continue to reduce their exposure to capital market investments due to dwindling confidence and concerns surrounding the pre-election economic uncertainties.
- Rayhan Ahmed
EconoInsights_Monthly Economic and Capital Market Overview_September 2...
The economy of Bangladesh has been performing well despite encountering multiple challenges, including higher inflationary pressure, dwindling foreign exchange reserves, currency depreciation due to global economic downturn and geo-political turmoil. Despite challenges, the government of Bangladesh aims for 7.5% GDP growth in FY'24. However, the ADB forecasts the country’s GDP growth at 6.5%, higher than the World Bank's estimate of 6.2% but lower than the government's ambitious target.
- Rayhan Ahmed
NBFI Sector Performance and Earnings Update 2022 & H1‘23
The non-bank financial institution (NBFI) sector in Bangladesh has been struggling with a huge amount of non-performing loans, a liquidity crisis, and an extreme squeeze in the NBFIs' net interest margin in recent quarters. However, despite the sector's shaky state due to financial woes and waning confidence from various noncompliant activities and loan anomalies, the central bank's execution of a market-based lending rate and governance enhancement initiatives could bring promising signs for a ...
- A K M Arif Uzzaman Arif Uzzaman
Diving Deep into the Mutual Fund Industry of Bangladesh Fund Compositi...
Since starting its journey in 1980 with the "First ICB Fund", Bangladesh's mutual fund industry has come a long way. Currently, it comprises 88 open-end mutual funds and 36 closed-end mutual funds, with a total asset under management (AUM) of BDT 118,071 million. Our research report titled "Diving Deep into the Mutual Fund Industry of Bangladesh: Fund Composition and Performance Analysis" provides an extensive analysis on how the industry has progressed over the years in comparison to the countr...
- Rayhan Ahmed
Bank Sector Performance and Earnings Update 2022 & Q1‘23
The central bank of Bangladesh has recently introduced a market-driven reference lending rate, namely SMART, to abolish the existing lending rate cap regime in its monetary policy statement for the first half of FY'24. This significant move is expected to result in a gradual increase of the interest rate spread in the banking industry.Let's take a glance at the current scenario of the Banking sector of Bangladesh and how the listed banks performed in 2022 and Q1 of 2023, along with the ratings a...
- Md Rashadur Rahman Ratul
Equity Note on LafargeHolcim Bangladesh Limited (LHBL)
LafargeHolcim Bangladesh Limited (LHBL), previously known as Lafarge Surma Cement Limited (LSC), a joint venture of LafargeHolcim and Cementos Molins, is the only fully integrated cement manufacturer of Bangladesh along with three grinding plants. It is engaged in manufacturing and marketing cement, clinker and clear-sized aggregates.
- Md Rashadur Rahman Ratul
Equity Note on Heidelberg Cement Bangladesh Ltd.
Heidelberg, a Germany-based cement manufacturing company, represents renowned branded cement namely"RubyCement" and "ScanCement." The company produces Portland Composite Cement and Ordinary Portland Cement. In 2021, two subsidiaries of the company namely Emirates Cement and Emirates Power amalgamated with Heidelberg. With three plants in Kanchpur, Chittagong and Mukterpur, Heidelberg has a production capacity of 3.51 million metric tons per annum
- Rayhan Ahmed
Equity Note on Unique Hotel & Resorts Limited (UNIQUEHRL)
Unique Hotel & Resorts Limited (UNIQUEHRL) is a hospitality management company and the owner & manager of “The Westin Hotel Dhaka”, “Sheraton Dhaka” and “HANSA”. The business activities of the company are carried out through a management contract executed on 17th December 1999 between Unique Hotel & Resorts Limited (“the Owning Company”) and Westin Asia Management Co. (“the Operator”), a wholly-owned subsidiary of Starwood Hotels & Resorts Worldwide, Inc. (now Marriott International).
- Arif Abdullah
Government Securities of Bangladesh_Brief overview and challenges in a...
Trading of Government Securities (G-Sec) in Bangladesh commenced on October 10, 2022, on the DSE platform. However, G-Sec trading on DSE has yet to gain momentum. In this report, we provide a brief overview of Bangladesh's Government Securities and examine the challenges that stand in the way of achieving vibrant trading of G-Sec on the DSE.
- Md Rashadur Rahman Ratul
Bangladesh Cement Industry Overview by EBLSL_April 2023
The cement industry's long-term demand outlook remains positive, with higher single-digit to double-digit expected growth over the next five to ten years owing to rising urbanization rate, rapid real estate development and government mega projects spending. However, the medium-term prospects for the cement industry and the construction sector remain unclear due to macro-economic adversities.
- Rayhan Ahmed
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