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On the Dhaka Stock Exchange, the price of BXP shares stands today at Taka 146.20 which translates into £1.05.
If our BXP-GDR shares we allowed to be traded on the Dhaka Stock Exchange the price would be in excess of £1.
Our Dividend Rights are precisely the same as those for the BXP shares traded on the Dhaka Stock Exchange.
Cheers to all who invest in our currently gravely underpriced BXP-GDR shares. I for one, have filled my boots.
Jolly - UK's Debts rising out of the pan. We are sinking, Dhaka is rising. Labour costs in Bangladesh a fraction of our labour costs, we are losing.
Some interest in this stock,now being shown. Not surprising as this is just far too cheap,extremely cheap,ludicrously cheap.A share with a great history of increasing profits.
Free money helps "emerging" markets
sharply higher US yield curve is a disaster
They are rising, we are sinking. should have notice some of that in the past 25 years.
Emerging is optimist spin
I worked in emerging markets my whole pro career...you?
Jolly - Emerging Markets are precisely what they are: EMERGING. No need to know a lot more than that.
We are sinking , they are rising.
The price of Beximco shares on the Dhaka Stock Exchange has remained unchanged for weeks at Taka 146.20 (=£1.05),
yet there are varying amounts of trades each day. I consider a stable share price as solid faith in the Company. Unlikely to go down, more likely to go up from that level. At £1.05 (translated price today) in Dhaka, our Beximco GDR shares here at 36.5p today, are at just one-third of the level in Bangladesh, yet our Dividends are precisely the same.
Make your own judgement...
(I happily own plenty, long term).
Lol
until evidence that Bangladesh is back on track, there's way too much risk here imv
I'm confident that no one commenting knows as much about assessing emerging market risks as I do, and I know enough to know how little any of us know
Incredible value here....Profitable company in a growth arena......providing a service to help people.....and make plenty for investors....... Far too cheap......
Greed, is it? Those who want to drink the last drop from the jug, risk getting the lid on their nose.
Probably not
until there's a heartbeat in Dhaka
PE-ratio 3.5 not low enough then?
Jolly, pessimistic as ever. And what would you expect to happen after your imaginary ultra low target is reached? Would a rapid rise then follow? imagine a PE-ratio of 3 or 4 for a rapid growing Pharmaceutical Company. A chance to fill pockets and boots for exciting gains to follow…
20-25p imv
Low share price (currently 36p) makes the Dividend look exciting. A growing pharmaceutical company with a share price as low as 36p, paying handsome dividends...what more does one want.
Mr. Jolly
How low going to be in here?
part 2
bangladesh has not disclosed this net reserves figure, but local media reports suggested the number fell short in march. more than $8 billion needs to be subtracted from the gross tally -- which continues to trend downward -- to arrive at the imf's accepted count, officials have said.
ahsan h. mansur, executive director at the policy research institute, bangladesh, and a former imf official, said forex reserves are a major reason for apprehension about the second tranche, though not the only one. "since february last year, reserves fell every month and never increased, while there is no sign of making a turnaround," he said, arguing there is no chance of hitting the imf targets.
at the same time, mansur said the current "growth compressing" level of imports is unsustainable. "we have to raise imports as well as enhance reserves," he said.
citing a lack of tangible policy reforms, he warned of the risk of missing multiple imf objectives. a failure to meet one or two conditions might result in the fund issuing a warning but still releasing the second tranche. failure on four or five points might cause more complications, he suggested.
he pointed to ****stan's stalled review. "while ****stan is saying we have done everything, the imf is saying, 'no, conditions are not met,'" he said.
zahid hussain, a former lead economist at the world bank's dhaka office, emphasized that the central bank's next monetary policy statement in july should make clear what is being done to meet the imf's conditions.
"the introduction of [the] interest rate corridor [to guarantee rates in a certain range], calculation of forex reserves as per the imf's [formula], and unification of [the] exchange rate of taka, has to be mentioned" in the new statement, he said.
the government says it is actively working to open up new trade avenues, and many insist the imf support in itself was merely precautionary.
binayak sen, director general of the bangladesh institute of development studies, believes the government is steering the economy successfully. "the worst situation that was predicted due to the ukraine war crisis has not happened."
"i am not [anticipating] anything bad," he said. while he conceded that inflationary pressure would persist, he added, "had our remittances as a whole collapsed, or exports lowered 50%, or crops failed 10% to 20% from flooding, i could have become concerned."
Full article here:
https://asia.nikkei.com/Economy/Bangladesh-on-hot-seat-to-meet-IMF-loan-targets
part 1
DHAKA -- Bangladesh faces growing pressure to meet targets in its loan agreement with the International Monetary Fund, with key review dates looming.
Already the South Asian country is believed to have fallen short of the minimum foreign reserve criteria for March, set when the IMF approved a $4.7 billion loan in January. An IMF staff mission that visited from late April to early May checked on Bangladesh's progress but could not be assured that the June target would be met.
"Persistent inflationary pressures, elevated volatility of global financial conditions, and [a] slowdown in major advanced trading partners continue to weigh on growth, foreign currency reserves, and the taka," Rahul Anand, IMF mission chief for Bangladesh, said in a statement.
Another IMF visit is scheduled for October to further assess Bangladesh's compliance with the loan conditions before disbursing a second tranche, to follow the earlier disbursement of $476 million.
Some officials and experts worry Bangladesh could fail to meet a number of objectives by the fall. Others downplay the concerns. Either way, there is little question that dollars remain in short supply, and that Dhaka will be tested over the coming months.
After signs of improvement, starting around the end of last year, export earnings have fallen for two consecutive months -- 2.49% on the year in March and 16.52% in April -- according to the Export Promotion Bureau.
Now, amid scorching weather, much of the country remains without power for long stretches, as electricity generation is squeezed by a lack of dollars needed to import fuel oil, gas and coal.
The central bank strictly controls letters of credit for imports. Such letters for capital machinery were down by 54% in the July to February period, and down 30% for raw materials. Some economists fear this belt-tightening may strangle industrial development and job creation, and limit production at existing factories.
The curb on foreign exchange outflows has also left foreign companies struggling to repatriate earnings. An agent of Meta, the parent company of Facebook, late last month announced that advertising by Bangladeshi companies would be limited due to the difficulty of transferring payments. International airlines and shipping agents have repeatedly lamented difficulties in channeling payments to parent organizations, as banks are unable to provide the required dollars.
None of this bodes well for meeting the IMF targets.
The deal with the fund set a floor for net foreign currency reserves at $22.94 billion in March, $24.46 billion in June, $25.31 billion in September, and $26.41 billion in December. Officially, Bangladesh Bank still reports around $30 billion in gross reserves, but the IMF has insisted on a far stricter calculation formula that shows how much the country has available for immediate use.
And this:
DHAKA -- Bangladesh faces growing pressure to meet targets in its loan agreement with the International Monetary Fund, with key review dates looming.
Already the South Asian country is believed to have fallen short of the minimum foreign reserve criteria for March, set when the IMF approved a $4.7 billion loan in January. An IMF staff mission that visited from late April to early May checked on Bangladesh's progress but could not be assured that the June target would be met.
As I've commented before, I think the material risks are those faced by the country rather than the company itself. Bangladesh remains under pressure from availability of USD in country, high energy costs, weak BDT vs USD, imported inflation etc etc.
This is a good article to summarise the latest woes impacting the country.
https://asia.nikkei.com/Spotlight/Environment/Climate-Change/Bangladesh-blackouts-magnify-heat-wave-linked-to-climate-change?utm_source=cbnewsletter&utm_medium=email&utm_term=2023-06-12&utm_campaign=Daily+Briefing+12+06+2023
Will BXP benefit from a weaker dollar?
If you can explain the bizarre sp flatline in dkaha perhaps...
but I cannot
Price of BXP shares on the Dhaka stock exchange currently is : Taka 146.20 which translates into £108.2p
The difference between between our BXP-GDR shares and the BXP shares in Dhaka is that our shares carry no voting rights, but othewise are the same, with absolutely the same Dividend rights. It makes the low price here (38p) look somewhat irrational.
Sudden volume spike to 433,000 on the domestic exchange today, no price movement though.