London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
A good read, which explains the real situation in the country ....
https://dailyindustry.news/crisis-in-energy-sector-will-intensify/
Mahfuz Emran: Bangladesh Bank has done a major devaluation of taka against the US dollar. The country’s economy will suffer in the long run. The cost of import will increase many times. In particular, the import cost of gas, fuel oil and coal will increase. As a result, the cost of power generation will increase. At the same time, the cost will increase in paying the bills of the multinational companies operating in the country.
Experts in the energy sector say that the devaluation of the currency will put the energy sector under severe pressure and crisis. Because our energy sector is import dependent. This will have a negative impact on the users. Bangladesh University of Engineering (BUET) former professor and energy and sustainable development expert Ijaz Hossain told, “Due to currency devaluation, the power and energy sector will be under severe pressure. The industrialization that is happening now may not continue. Such underestimation is a bad sign.’
He said, power and energy sector is import dependent. Depreciation of taka will increase imports.
In fact, which direction the situation will go, can’t be specified now. But there will be a long-term pressure, that’s for sure. There may be further devaluation of money in the future. The dollar will be traded at the new rate from Sunday. After a week of trading it will be understood which direction the situation will go.
The sector stakeholders say that currently the power and energy sector is suffering from cash and dollar shortage. In other words, fuel imports are sometimes interrupted.
Now the electricity and energy sector has thousands of crores of arrears. Meanwhile, the government is unable to pay these dues due to lack of money and dollars. Apart from this, if the import cost of fuel increases, the cost of production will also increase. As a result,supply cost will also increase in parallel. And if the cost of supply increases, so will the subsidy.
They also say that recently, under the pressure of the IMF, the government has planned to gradually withdraw from subsidies in various sectors. The government has hiked electricity prices by executive order to reduce subsidy on electricity. In the future, electricity prices are said to be adjusted three to four times a year. That means electricity prices will increase further in the future. Inflation will increase one more time.
Acknowledging the matter, Minister of State for Power, Energy and Mineral Resources Nasrul Hamid said that increasing the price of the dollar will create additional pressure on electricity and fuel. The matter will be discussed with the Governor of Bangladesh Bank.
It is known that till January of this year, the amount of bill arrears in the electricity sector is about Tk 60 thousand crores. Among these, the capacity charge (excluding local consumption) of privat
It is known that till January of this year, the amount of bill arrears in the electricity sector is about Tk 60 thousand crores. Among these, the capacity charge (excluding local consumption) of private power plants and the price of fuel in dollars have to be paid to the Power Development Board (PDB). Bill of electricity import from India has to be paid in dollars. Due to the increase in the price of the US currency, PDB will incur an additional cost of around Tk 3 thousand crore in paying this arrear. Apart from this, dues of Chevron and dues of Petrobangla due to import of LNG are about $400 million. Due to the devaluation of the taka, the additional expenditure of the organization in domestic currency will be about Tk 300 crore.
Due to the dollar crisis, Petroleum Corporation (BPC) has accumulated arrears of about $320 million due to the purchase of fuel oil. Of this, ITFC’s loan is Tk 2 crore. The rest is owed to foreign oil supply companies. BPC will have to spend an additional Tk 250 crore to repay this arrear due to the increase in the value of the dollar.
This year electricity subsidy has been estimated at Tk 44 thousand crores. However, as a result of increasing the price in Dudfa, the subsidy has decreased by about Tk 6 thousand crore. According to the finance department, a Tk 1 increase in dollar value increases the electricity subsidy by about Tk 474 crore. If the price of dollar increases by Tk 7, the subsidy will increase by about Tk 3,318 crore. Private power entrepreneurs said that due to dollar crisis and arrears, LCs can’t be opened properly. Now the price has increased again. As a result, there will be a loss of Tk Tk400 to Tk 500 crore in the previous LCs.
https://dailyindustry.news/crisis-in-energy-sector-will-intensify/
They’ll be pressing that button searcher. They now have no other choice.
Everything points to the outcome (nearly) all of us want. Is it days, weeks or months away?
Are they waiting to line up some other major "greener" investment news at the same time or is the continuing dollar crisis enough for them to feel ready to hit that button?!
"INTENSIFY" is key word!
It is not getting any better and will not without significant Action - Govt already knew this and why 'New Plan' for energy drafted.
As Minister say "ALL" domestic mining resources will be utilized.
Think about this re: GCM investment & Upside we looking at! 🦉
Correct and this is why power china and gcm have a signed contract and are ready to go. its so obvious its going to get green light.
The only thing puzzling me and I’m assuming others is why we are sub 6p.
The market doesn’t understand what we do and won’t give credit to the sp.
It’s allowing people to load up further when they can as a consequence 🤷🏼♂️
The market doesn’t understand what we do and won’t give credit to the sp.
Lol... the situation is pretty simple but with uncertain outcome. Very easy for ii to understand so it is indeed a good question to ask why they do not buy this golden opportunity?
Simple answer : they are not convinced. Simple.
They could be wrong ofcourse but lack of buying says it all. Should not be a surprise as even the uber rampers here are not buying and some are even sneaky sellers.
Just wait for the news....the longer it takes the more we go down. Very simple actually
It’s usual and predictable GP, without a definitive end date the market will test the resolve of holders, accumulate shares that they’ll sell back higher.
Why offer a bid of 9-10p while waiting knowing plenty (mainly newer holders) will become impatient and sell - offer 6p, coupling impatience with doubt/fear and boom.
Nothings changed here as far as approval being a near on certainty, what happens between now and then is almost irrelevant given what the SP will reach.
‘Buy when others are fearful’ quote was made for times like these! GL
Right on cue: a sneaky seller ;)
Just to add further, any sniff of approval and the buying increased volume will be obvious 😀
Who just bought 575k 😆
Is that your buy Professional ? A bit hypocritical of you...
It is a sell... mm lowered ask to make it look better... more coming imho
And no buying from me. I will let you know when i do.
2p incoming
Guess filling that is whats held it down all day then
Goody no way anyones trusting professional with more than £100 - you get more sense outta a loaf of bread!! LOL
Adam they guy that admitted to have sold while ramping this stock....zzzzzz