Shanta Unit Fund trading to remain open in all working days
For the greater interest of investors, trading of the unit of Shanta First Income Unit Fund (SFIUF) will remain opened for all working days from now on for the first time in the asset management industry of Bangladesh. Earlier, in the last trading session of each week, trading of units of open-ended mutual funds was prohibited. In that circumstances, SAML applied to Bangladesh Security and Exchanges Commission (BSEC) not to keep any prohibition on trading of units in any working days. Based on this application, BSEC approved the trading of units in all working days. According to Mohammad Emran Hasan, Chief Executive Officer (CEO) of Shanta Asset Management Limited (SAML), "Investors' interest is the key focus of SAML. In line with this, we lift the barrier of trading of units during the last trading days of every week to increase fund's liquidity. This happens for the first time in the asset management industry of Bangladesh. Moreover, from the beginning, we do not keep any spread between buy price and sale price of units of SFIUF for investors' interest". — Statement
Keya Cosmetics downgraded to 'Z' category
Keya Cosmetics has been shifted to 'Z' category from existing 'A' category as the company failed to hold an AGM (Annual General Meeting) in the Gregorian calendar year 2018. As per rules, margin loan facilities are not provided against the shares of a 'Z' category company. "That's why the stock brokers and merchant bankers are requested to abstain from providing loan facilities to purchase securities of Keya Cosmetics Limited with effect from January 01, 2019", according to a disclosure of Dhaka Stock Exchange (DSE). The company's board of directors recommended 10 per cent stock dividend for the year ended on June 30, 2018. The company also reported EPS of Tk. 1.21 and NAV per share of Tk. 14.02 for the year ended on June 30, 2018 as against Tk. 2.01 and Tk. 15.37 respectively for the same period of the previous year. — FE Report