e-CAB suspends membership of
e-orange, 3 others
Business Desk
The e-Commerce Association of Bangladesh (e-CAB) has suspended the membership of four e-commerce firms, including Eorange.
The other three companies suspended are www.24tkt.com, www.greenbangla.space and www.excellentbigbazar.com
The e-CAB suspended their membership due to the companies either not responding to or failing to provide proper explanations against the show cause letter sent to them after receiving multiple complaints from consumers and vendors, said the association in a press release on Thursday.
It said that there are allegations of embezzlement, non-settlement of complaints of buyers and suppliers, non-compliance with “Digital Commerce Guidelines 2021” and running multi-level marketing (MLM) businesses against these e-commerce firms.
Earlier, e-CAB sent show-cause letters to 16 e-commerce firms over the allegations against those.
Of the 16 accused, nine completely denied the allegations, while the others prayed for time with a commitment to resolve grievances and comply with the Digital Commerce Management Guidelines-2021.
In this regard, e-CAB stated that further investigation is underway keeping the nine institutions under observation.
If there is no satisfactory solution, a similar decision may be taken regarding those institutions, said e-CAB.
6 more MF’s post positive earnings, declared dividend
Business Desk
Six mutual funds declared cash dividends in separate filings with Dhaka Stock Exchange on Thursday for the year ended on June 30, 2021.
The funds are: First Bangladesh Fixed Income Fund, IFIC Bank 1st Mutual Fund, EBL First Mutual Fund, EXIM Bank 1st Mutual Fund, Trust Bank 1st Mutual Fund, and First Janata Bank Mutual Fund.
First Bangladesh Fixed Income Fund declared a 4% cash dividend. The fund reported earnings per unit (EPU) of Tk1.93 for the year ended on June 30, 2021, up from Tk1.55 in the negative for the same period of the previous year.
The closing price for each of its units was Tk6.3 during Thursday’s trade.
IFIC Bank 1st Mutual Fund, on the other hand, declared a 7.5% cash dividend. The fund reported EPU of Tk2.32 for the year ended on June 30, 2021, up from Tk1.58 for the same period of the previous year. Its closing price was Tk7.1.
Meanwhile, EBL First Mutual Fund declared a 13% cash dividend. It reported an EPU of Tk2.61 for the year ended on June 30, 2021, up from Tk1.35in the negative for the same period of the previous year. Its closing price was Tk10.
EXIM Bank 1st Mutual Fund declared a 7.5% cash dividend. The fund reported EPU of Tk2.00 for the year ended on June 30, 2021, up from Tk1.28 in the negative for the same period of the previous year.
PIL declares 30pc dividend
Business Desk
Pragati Insurance Limited (PIL) has declared 30% cash dividend for the year 2020 in its 35th annual general meeting on Thursday.
The virtual meeting was presided over by Syed M Altaf Hussain, Chairman of the company, said a press release. Vice-Chairman of the Company Tabith Mohd. Awal, Members of the Board of Directors, independent directors and CEO Md Rezaul Karim were participated in the AGM.
PICL Q2 earnings rise
Business Desk
Phoenix Insurance Company Limited has reported a 150% increase in its Q2 (April-June) earnings.
In a filing with Dhaka Stock Exchange on Thursday, the insurance company said that its earnings per share (EPS) was Tk0.70 for the Q2 of 2021 as against Tk0.28 for the same period of 2020.
Meanwhile, its net asset value (NAV) per share was Tk41.83 as of June 30, 2021, and Tk36.04 as of June 30, 2020.
Earlier in the year 2020, Phoenix Insurance Company offered a 15% cash dividend to its shareholders. Its closing price was Tk64 during Thursday’s trade.
