25 June, 2007

Women leadership should not be undermined

ays, Mr.MKM Mohiuddin, President, CSE Salta Capital Ltd. a leading broker of Chittagong Stock Exchange today organized a seminar at the city on the occasion of opening a separate booth for the women investors in order to facilitate them for smooth share trading. Mrs. Monwara Hakim Ali, President of Women Chamber of Commerce inaugurated the occasion as Chief Guest, while Mr. Nasiruddin Ahmed Chowdhury First Vice President of Chittagong Stock Exchange were present as Special Guest.

Mrs. Monwara Hakim Ali, President of Women Chamber of Commerce is addressing her speech as Chief Guest at the seminar on the occasion of opening a booth for women investors for share trading. From the left Mr. ASM Shahidullah, MD, Salta Capital Ltd., Mr. Nasiruddin Ahmed Chowdhuty, First VP, CSE, Mr. ASM Shahidullah Shahjahan, Chairman, Salta Capital Ltd., Mr. Atiquzzaman, Head of Compliance are also seen in the picture.

Mrs. Hakim Ali in her address said “We feel proud to receive a pragmatic approach from Salta Capital Ltd. and came forward for the women investors by installing a women booth for share trading who have been neglected for many years. Besides household works and regular responsibility our women investors will be able to invest in our stock market soon.”

Mr. Nasiruddin Ahmed Chowdhury, First VP of CSE said in his remarks that Salta Capital Ltd. has been very enthusiastic and dynamic in expanding their trading facilities to different corners of the country; I am appreciating this timely approach. Today they have stoned another flag where our potential women investors could meet and mobilize their savings. He said, “If we set our eyes to our neighboring countries India, Srilanka and Pakistan, their stock markets are encompassed by female investors in great numbers. Our country is also percolated in that direction, but it needs guidance. Our objective is to aware our potential women investors so that they feel ebullience while investing their small savings. We should remember that investment in stock market does not always pour profit rather it is a highly risk oriented business. If we invest analytically and well equip always with adequate information, there is a little chance to loose. My earnest requests to all investors present here, please think twice before taking any final investment decision, consult with your neighbor experts about investment decision, do not invest blindly without knowing anything about the fundamentals of the company.”

He further said, “Chittagong Stock Exchange as a facilitator brought futuristic ITS (Internet Trading Service) infrastructure for the general investors. Women now do not need to present at broker office, they can route their buy/sell order from their home or offices only if they have a PC with e-mail connection. By virtue of this facility women could be a self dependant and boost their income and eventually able to participate in their household expenses.”

He said, “Our Capital Market eyes a good potentiality in the future. Many government stakes, multinational companies including leading cell phone providers expect to come

our market soon and thereby our market capitalization will be broaden further. The country's stock market will see a major development when shares valued at US$1.0 billion will be floated within the next three to six months as eight large profitable state-owned companies will go public under the Direct Listing Regulation. The top telephone company Grameen Phone are finalizing their offers to go public and this will be a positive signal to the investors. The 'image problem' of Bangladesh will be removed to a large extent. We are hopeful that a huge fund now invested in India and Pakistan stock markets by the Middle East, Japan and US-based investors will be diverted to Bangladesh stock market. The foreign investors are impressed with the higher yield from investment in bonds in Bangladesh markets. It is just the beginning and Bangladesh stock market will really have a bang in near future.”

With the inclusion of more companies under power, telecommunications and energy sectors, the market capitalization of the bourses will cross $ 15 billion-mark from the present $ 5.50 billion and daily average turnover to $ 100 million-mark from the present average of $ 10 to $ 15 million by 2009.

Our proposed deep seaport to be built at a cost of $ 1.0 billion will also float shares in the stock market. Our total portfolio investment in Bangladesh stock market stood at Tk 5.09 billion as of April this year.  Portfolio investment in January this year shot up by around 200 per cent over the previous month's level. Many analysts have attributed the surge in portfolio investment in local securities through merchant banks to a stable political scenario following the declaration of a state of emergency and formation of a new interim government. The portfolio investors are still in a buying mood which is a good sign for our market. 

Mr. ASM Shahidullah Shahjahan, Chairman of Salta Capital Ltd. in his vote of thanks said, “Unemployment is a serious social evil in Bangladesh. In order to reduce the unemployment rate, we have to tap our capital market for rapid industrialization. Borrowing from banks is an adverse culture in our society; our women entrepreneurs have to look into our stock market for their fund rising.”

Mr. ASM Shahidullah, Director of Salta Capital Ltd. in his speech said, “Stock Market business is the number one business in USA or developed countries. But in our country it is not that much appreciated that it deserves.”

Mr. Atiquzzaman, General Manager, Compliance Department also spoke in the programme while Mr. AKM Shahroze Alam, Deputy Manager, Corporate Development presented slides on recent capital market development in Bangladesh.