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ICB Annual Report 2019-20.Pdf ÒgywRee‡l©i cÖwZkÖæwZ, Avw_©K Lv‡Zi AMÖMwZÓ -Avw_©K cÖwZôvb wefvM RvwZi wcZv e½eÜz †kL gywReyi ingvb Gi Rb¥kZevwl©Kx‡Z webgª kª×v ÒgywRee‡l©i A½xKvi Dbœqb-A_©vq‡bi Drm n‡e cyuwRevRviÓ -evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgkb evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgk‡bi iRZRqšÍx Abyôv‡b cÖavb AwZw_ wn‡m‡e Dcw¯’Z wQ‡jb MYcÖRvZš¿x evsjv‡`k miKv‡ii gvbbxq cÖavbgš¿x †kL nvwmbv| Avw_©K cÖwZôvb wefvM, A_© gš¿Yvjq KZ„©K Av‡qvwRZ cyuwRevRvi Dbœqb welqK gZwewbgq mfvq mfvcwZZ¡ K‡ib gvbbxq A_©gš¿x Rbve Av n g gy¯Ídv Kvgvj, GdwmG, Ggwc| AT THE CORE … AT THE EDGE Every government owned corporation has its mandates, objectives and core functions that are time tested and relatively stable. Investment Corporation of Bangladesh (ICB) was brought into existence as a government owned corporation to play role for economic development of Bangladesh with the mandates to encourage and broaden the base of investment, develop the capital market, mobilize savings and matters ancillary thereto. In order to encourage first-generation private enterprise and investment in the early eighties, ICB was first to provide investment-driven institutional support through bridge financing, debenture financing, share take-up, advance against equity, pre-IPO placement, purchases of bonds and preference shares and other means to meet their equity gap. In the process, the companies repaid the bridge loan through IPO and bonds through installments over 5/10 years’ term. Thus, ICB contributed to increase the supply of primary securities in the capital market since inception. Moreover, ICB is the pioneer organization for initiating mutual funds, unit funds, building efficient portfolios and providing margin loans and other financial solutions in Bangladesh. Through these operational processes, ICB made a significant contribution in both the generation of demand for and the increase in supply of securities in the capital market. ICB has 44 years of extensive operational history in Investment Banking, Underwriting, Issue Management, Stock Market Operations, Investors’ Scheme and Investment Counseling. These operations have equipped ICB with a deep knowledge of markets, sentiments that drive them, fundamentals that underlie them and the techniques that to deal with them. ICB is virtually the only institution that paid a total of Tk 246.83 crore as dividend against eight closed- end mutual funds floated with an initial size of Tk 17.50 crore before those were converted from closed-end to open-end with a total NAV of Tk 389.97 crore. Formation of three subsidiary companies by ICB to operate in the Capital market encouraged other organizations/ Banks to form such subsidiaries. Such step by ICB evolved new avenue of fund inflow and created level playing field for all those involved in capital market. ICB also played a vital role in educating many listed companies in developing systematic, chronological, automated and transparent record maintenance system by nominating Directors in those companies’ Board. Therefore, the standing of ICB is at the core of the capital market. On the other hand, there are tasks at the edge of the institution. These are of new, innovative or supportive types, with focus on a new digital service or formation of new concepts that may not yet have an impact on existing systems and those have immense potentials. On the edge, there are people who are creative and flexible to take initiatives in new directions. They introduce new concepts or programs to explore the flow of value or earnings. At the edge of the institution, ICB plays an important role alongside the government and regulatory authorities in implementing decisions that have national priority as and when required. The people of Bangladesh have witnessed two major upheavals of the capital market in 1996 and 2010 after which the capital market became unstable for a long time. Despite limitations caused by both endogenous and exogenous factors, ICB took steps to contribute to the stabilization and buoyancy of the market. Some of such steps include the continuous purchase of shares in situations of fall in the share prices, avoiding forced sale, approval of rebate facility for the affected investors, floatation of a Tk 5,000.00 crore open-end mutual fund, namely Bangladesh Fund, issuance of Tk 2,000.00 crore ICB coupon-bearing fully redeemable subordinated bond, initiative of Tk 20 crore ICB AMCL Shotoborsho Unit Fund and management of Tk 900 crore special scheme for affected small investors. Moreover, ICB played pivotal role in automating security depository system through establishing CDBL and played role for bringing into existence the BICM for spreading education, imparting training on capital market, demutualization of the stock exchanges and disinvestment plan of government. We are also very proud to be a development partner of the megaprojects of the government, which are almost at the final stage. We are on the threshold of the government’s “Vision 2021” and Bangladesh is now considered one of the most attractive destinations for investment in the region. With the new commission of BSEC, there is renewed hope. Therefore, the standing of ICB is at the edge of the capital market as well. We commenced our journey through increasing the supply of securities in the primary market of the capital market in early eighties, gave highest priority in developing capital market and took highest risk to deal with the two crises faced by the capital market in 1996 and 2010. Therefore, we say we are “AT THE CORE ... AT THE EDGE”. We invite you to download a digital copy of this Annual You can also download a copy of Report by scanning this QR this report from our code on your smart device. website: https://icb.gov.bd/annual_report_icb.php 4 ANNUAL REPORT 2019-20 LETTER OF TRANSMITTAL Shareholders Ministry of Finance, Government of the People's Republic of Bangladesh Bangladesh Bank Bangladesh Securities and Exchange Commission Dhaka Stock Exchange Limited Chittagong Stock Exchange Limited Central Depository Bangladesh Limited Other Stakeholders Sub: Annual Report for the year ended 30 June 2020 Dear Sir(s), We are pleased to enclose herewith a copy of the Annual Report for FY 2019-20 together with the Audited Financial Statements of Investment Corporation of Bangladesh and its three subsidiaries- ICB Asset Management Company Limited, ICB Capital Management Limited and ICB Securities Trading Company Limited for your kind information and record. Sincerely yours, Md. Abul Hossain Managing Director INVESTMENT CORPORATION OF BANGLADESH PREFATORY 5 NOTICE OF THE ANNUAL GENERAL MEETING PzqvwjøkZg evwl©K mvaviY mfvi weÁwß Notice of the 44th Annual General Meeting GZ`&Øviv weÁwß cÖ`vb Kiv hv‡”Q †h, Bb‡f÷‡g›U K‡c©v‡ikb Ae evsjv‡`k (AvBwmwe) Notice is hereby given that the 44th Annual General Meeting of the respected Gi m¤§vwbZ †kqvigvwjKM‡Yi 44Zg evwl©K mvaviY mfv AvMvgx 19 wW‡m¤^i 2020 ZvwiL, shareholders of the Investment Corporation of Bangladesh (ICB) will be held on kwbevi, mKvj 10:30 NwUKvq fvP©yqvj/wWwRUvj cøvUd‡g© wb‡gœv³ Kvh©vejx m¤úv`‡bi wbwgË Saturday, 19 December 2020 at 10:30 a.m. through digital platform for transaction AbywôZ n‡et of the following business: 1. 21 wW‡m¤^i, 2019 Zvwi‡L AbywôZ 43Zg evwl©K mvaviY mfvi Kvh©weeiYx AewnZKiY; 1. To place the minutes of the 43rd Annual General Meeting held on 21 December 2019 for information; 2. Bb‡f÷‡g›U K‡c©v‡ikb Ae evsjv‡`k Gi 30 Ryb 2020 Zvwi‡L mgvß A_©eQ‡ii 2. To consider and adopt the Annual Report and Audited Accounts of Investment evwl©K cÖwZ‡e`b I wbixwÿZ wnmve we‡ePbv Ges Aby‡gv`b; Corporation of Bangladesh for the year ended on 30 June 2020; 3. †evW© KZ©…K mycvwikK…Z jf¨vsk Aby‡gv`b; 3. To approve dividend as recommended by the Board; 4. K‡c©v‡iU Mfb¨©vÝ †KvW 2018 Abyhvqx K‡c©v‡iU Mfb¨©vÝ †KvW cwicvjb msµvšÍ 4. To appoint auditor for obtaining certificate on complaince of the Corporate mvwU©wd‡KU cÖ`v‡bi wbwgË AwWUi wb‡qvM cÖm‡½; Ges Governance Code 2018; and 5. mfvcwZi AbygwZµ‡g Ab¨ †Kvb welq| 5. Any other business with the permission of the Chair. cwiPvjbv †ev‡W©i Av‡`kµ‡g, By Order of the Board of Directors †gvt iwdK Dj¨v Md. Rafique Ullah †Kv¤úvwb mwPe Company Secretary ZvwiL: XvKv, 28 A‡±vei 2020| Dated: Dhaka, 28 October 2020. we‡kl `ªóe¨: Notes: 1. †iKW© †WUt 22 b‡f¤^i 2020, iweevi; 1. Record Date: 22 November, 2020, Sunday; 2. evsjv‡`k wmwKDwiwUR A¨vÛ G·‡PÄ Kwgkb (weGmBwm) Gi 08 RyjvB 2020 Zvwi‡Li 2. Pursuant to the Bangladesh Securities and Exchange Commission's (BSEC) Order GmBwm/GmAviGgAvBwm/04-231/25 bs AW©vi AbymiY K‡i GwRGg fvP©yqvj/ No. SEC/SRMIC/04-231/25 dated 08 July, 2020, this will be virtual meeting of the wWwRUvj cøvUd‡g© AbywôZ n‡e; Members, which will be conducted via live webcast by using Digital Platform; 3. fvP©yqvj/wWwRUvj cøvUd‡g© AbywôZ mfvq AskMÖn‡Yi Rb¨ AbjvBb wjsK I we¯ÍvwiZ 3. Link for joining in AGM through Digital Platform and details login process will jMBb cÖwµqv †kqvi‡nvìviM‡Yi mswkøó B‡gB‡j †cÖiY Kiv n‡e| jMBb/mfvq be notified to the respective email address. Full login/participation process AskMÖn‡Yi we¯ÍvwiZ cÖwµqv K‡c©v‡ik‡bi I‡qemvB‡UI (www.icb.gov.bd) cvIqv for the Digital Platform meeting will also be available in the corporation’s hv‡e; website: www.icb.gov.bd; 4.
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