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maybe...its sales are largely domestic...perhaps some import substitution possible
Jolly - Should the Taka devalue (unlikely), then BXP’s profits will soar, exports will rise out of the pan. BXP is globally recognised as an excellent company, well managed, well respected, growing faster than most, trading internationally, no FX problems. Investors on the Dhaka stock exchange are happy to pay more than twice our price for their BXP shares which differ from our shares in so far that our shares have no voting rights, Dividends precisely the same!
I cannot see any need to rush back in
This narrative of scarce fx is pretty awful for bangladesh...I'm surprised the imf has allowed this to develop...does the taka need to devalue seriously?
As long as it is not BXP holding the Dividend payment back, I see no reason to be concerned.
What is a few weeks delay in the lifespan of man/woman? The money is deposited in the New York bank, so out of BXP’s hands. No worry!
Out of BXP
Jolly, know that you been invested here before, or still are to some extent. Are you thinking of going long / adding whilst the share price is down here?
scarce FX lol
Jolly - Fixed ideas? Is that what went wrong at Woodford?
I emailed BNY Mellon a few times in February and eventually got a reply on 16/2. I have already shared the reason given for the delay in distributing the dividend. The actual reply to me was "Please note that the DR payable date for the dividend has not yet been fixed due to the low liquidity ratio for the conversion of the local currency BDT into USD. Once all the dividend monies received by the Depositary in BDT are converted into USD, we will be able to set a DR payable date for the GDR holders. A final announcement will be issued at that time to the London Stock Exchange and all market participants confirming the DR payable date."
fixed ideas based on no evidence are a very poor approach to investing...
A man of few words, and then mostly abbreviated.
My regards to Woodford when you see him.
lol
Jolly - come on let us have another negative message, it keeps me amused. Are you sure you are not a failed fund manager, an ex-adviser to Woodford perhaps?
What is your obsession with ‘fx’ what proof do you have of rationing?
Can I just say this: a country that is strike-ridden whilst borrowing to the hilt to keep its population on an undeserved high Standard of living is heading direction basket case - The United Kingdom.
a country that rations fx is a basketcase
Jolly - you have come back with a vengeance, three negative messages in a row, wow!
I cannot see where you get the idea of “repatriating dividends” from. Never heard of such a thing! BXP is buying chemical/medical ingredients globally, no issues with foreign exchange whatsoever, do you think their foreign bill-payments could possibly be repatriated ?!
Let us be honest, you are craving to see the share price on its knees so that you can dive in big style on the cheap. Oddly , In some way I would like you to succeed, as it would be great to buy the shares of this successful Globally expanding Company at a quarter of the BXP share price on the Dhaka stock exchange, I would buy massively! But is fear-sowing fair on small investors who may be panicked into selling at silly low prices, when actually they should perhaps be buying to take advantage of the silly low prices.
P.S. I for one am perfectly happy to wait a few weeks for the Dividend pay-out, not tat all desperate for the money.
Here you go the share price is 42p. Now. If you wait then you will see much more lower than this. Because everything is falling.
could get ugly as more fret (rightly imv) about payment of divi
perhaps folk should try contacting the dude at BNYMellon?
so why no dividend payment yet?
could it be that the bangladesh central bank has decided to ration fx? if so, it's a macro disaster for Bangladesh: who'd fdi in a country with a chequered track record of allowing dividends to be repatriated?
why has the imf allowed this?
sp drifting
little to say
could be at least a year before this bottoms...though if div not paid because taka not truly convertible atm I'd expect a collapse well below 25p
Jolly - You are lying low, nothing negative to say, come on do your duty…I miss you!
Maybe enough to know that Bangladesh is moving forwards, whilst the United Kingdom is moving backwards.
Thanks for the responses to my original message. We GDR holders have now waited 5 weeks for the dividend, longer than ever before, I think. I would have expected an update through RNS by now, so I am bothered by the delay, not to mention that BXP was my largest holding, so eager to receive a significant dividend amount that I have other uses for! ??
neither of us are experts on Bangladesh, but ....
Why should Bangladesh struggle with FX convertibility? The Taka is holding up well against the Pound’s recent rise, indeed better than the U.S Dollar. Come on Jolly, we know you are hoping for the share price to fall to fill your boots on the cheap, but you can not argue that BXP is less than an excellent progressive Company in a country that is currently more progressive than strike-ridden UK.
If Bangladesh is struggling to maintain FX convertibility, this is going sub 30p imv