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BEXIMCO

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Bangladesh Export Import Company Limited
Company typePublic
DSE: BEXIMCO
CSE: BEXIMCO
IndustryConglomerate
Founded1972; 52 years ago (1972)
Founders
Headquarters
Dhaka
,
Bangladesh
Area served
Worldwide
Key people
Products
RevenueIncrease BD৳25.387 billion[1]
(US$304 million) (FY2018)
Increase BD৳7.085 billion[1]
(US$85 million) (FY2018)
Increase BD৳1.259 billion[1]
(US$15 million) (FY2018)
Total assetsIncrease BD৳122.746 billion[2]
(US$1.47 billion) (FY2018)
Total equityIncrease BD৳63.373 billion[2]
(US$757 million) (FY2018)
Owner
  • A. S. F. Rahman
  • Salman F Rahman
Number of employees
70,000
Subsidiaries
Websitebeximco.com bol-online.com beximcolpg.com

Bangladesh Export Import Company Limited (Bangla transliteration: বাংলাদেশ এক্সপোর্ট ইমপোর্ট কোম্পানি লিমিটেড), commonly known by its trade name BEXIMCO (Bangla: বেক্সিমকো) (DSE: BEXIMCO CSE: BEXIMCO), is a Bangladeshi multinational conglomerate holding company, headquartered in Dhaka, Bangladesh. It was founded in the early 1970s.[3]

BEXIMCO is Bangladesh's largest conglomerate, with the largest market capitalisation on the country's stock market. BEXIMCO currently has operations and investments across a wide range of industries including textiles, pharmaceuticals, PPE, ceramics, real estate development, construction, trading, marine food, information and communication technologies, media, DTH, financial services, and energy.[4] BEXIMCO's subsidiaries export products to 55 countries worldwide.[5] It has retail outlets in South Asia and Eastern Europe. It is one of the largest private sector employers in Bangladesh with over 70,000 people worldwide.[4]

BEXIMCO operates one of the largest integrated textile production businesses in Asia. Its main manufacturing base is the BEXIMCO Industrial Park in Gazipur, Bangladesh. Beximco Pharma, the group's pharmaceutical producer, was the first Bangladeshi company to be listed on the London Stock Exchange.

History

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The company was founded by brothersA. S. F. Rahman and Salman F Rahman in 1972, right after the independence of Bangladesh. Their family was earlier engaged in the jute business. The jute factory was nationalized in the early 1970s. However, with free market reforms in the late 1970s and 1980s, the family regained many of their businesses.

Since the early 1970s, BEXIMCO has been a pioneer in industrial and business sectors. Currently it has operations and investments across a wide range of industries including pharmaceuticals, ceramics, renewable energy, textiles, LPG,  food & beverage, satellite to home television, PPE, media, ICT,  real estate, financial services, and travel & tourism.[6]

In 2005, Beximco Pharma became the first Bangladeshi company to be listed on the Alternative Investment Market of the London Stock Exchange.[7] BEXIMCO also opened its first overseas retail outlet with the launch of the Yellow clothing brand in Karachi, Pakistan.[8] Yellow has since expanded to several Bangladeshi and Pakistani cities. In 2009, Shinepukur Ceramics opened a showroom in Moscow, Russia.[9] In 2010, the company acquired stakes in several major Bangladeshi businesses, including IFIC Bank and Unique Hotels and Resorts.[10][11][12]

Beximco Communications, a joint venture of Beximco Holdings with Russian company GS Group, launched Bangladesh's first direct-to-home (DTH) satellite television service in 2016, under the brand name RealVU.[13][14] RealVU later suspended operations.[15]

Its vice chairman Salman F Rahman was serving as a Private Sector Development Affairs Adviser to Prime Minister and Bangladesh Awami League President Sheikh Hasina, the former Prime Minister of Bangladesh, in the past and as Private Sector Industry and Investment Adviser at the moment.[5] He's now currently arrested as they were attempting to flee by waterway from the Sadarghat area of the capital on Tuesday, 13th August 2024. They are currently charged as instigators for murder of students during the student rising movement in Dhaka.[16]

Recently BEXIMCO with other companies donated 6.93cr to Labour Welfare Fund support to workers in the formal and informal sectors for accidental deaths, treatment of injuries, incurable diseases, and also for the higher education of their children.[17]

In 2023, BEXIMCO Group inaugurated Teesta Solar Limited.[18] However, the plant started supplying power to the national grid in December 2022. The plant has 520,000 solar panels at 600 acres of land at Tarapur Union. The plant has the capacity to produce 200MW of electricity. [19] The plant is located on the bank of the Teesta River.[18]

Key officials

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A branch of IFIC Bank. Beximco is the single largest stakeholder in the bank, which is one of Bangladesh's largest.
  • A. S. F. Rahman, Chairman
  • Salman F Rahman, Vice-chairman
  • O K Chowdhury, Managing Director
  • Iqbal Ahmed, Group Director
  • ABS Rahman, Group Director
  • Syed Naved Hussain, Advisor to Chairman and Vice Chairman
  • Ajmal Kabir, Group Director
  • Humayun Kabir FCA, CEO (Ceramics)
  • M Shamsur Rahman, CEO (Media)
  • Shah A Sarwar, managing director and CEO (IFIC Bank)
  • Mrinal Roy, CEO (Petroleum)
  • M Asad Ullah FCS, Executive Director & Company Secretary
  • Masud Ekramullah Khan, Independent Directors
  • Shah Monjurul Hoque, Independent Directors
  • Mohammad Asad Ullah, FCS, Executive Director & Company Secretary

Products

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Beximco Industrial Park
  • Banking - IFIC Bank
  • Ceramic
  • Construction
  • DTH
  • Electric power generation
  • Fashion
  • Fisheries
  • Food & beverage
  • Hotels
  • Information technology
  • Media
  • Petroleum products
  • Pharmaceuticals
  • PPE
  • Private satellite television channel
  • Real estate
  • Renewable energy
  • Sports team & franchise
  • Textiles
  • Travel & tourism

Subsidiaries

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The conglomerate compromises four public traded and eight privately held companies.

See also

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References

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  1. ^ a b c Annual Report 2017–18, Bangladesh Export Import Company Limited (PDF) (Report) (Final ed.). Dhaka: Bangladesh Export Import Company Limited. 25 October 2018. p. 24. Archived from the original (PDF) on 27 August 2019. Retrieved 21 January 2018.
  2. ^ a b Annual Report 2017–18, Bangladesh Export Import Company Limited (PDF) (Report) (Final ed.). Dhaka: Bangladesh Export Import Company Limited. 25 October 2018. p. 23. Archived from the original (PDF) on 27 August 2019. Retrieved 21 January 2018.
  3. ^ "Bangladesh Export Import Company Limited". Bangladesh Export Import Company Limited.
  4. ^ a b www.beximco.com. "BEXIMCO - Taking Bangladesh to the World". beximco.com. Retrieved 28 May 2023.
  5. ^ a b "Salman F Rahman remains Sheikh Hasina's adviser". bdnews24.com. Retrieved 11 January 2017.
  6. ^ "BEXIMCO - Taking Bangladesh to the World". beximco.com. Retrieved 4 November 2021.
  7. ^ Murray-West, Rosie. "Bangladeshi drugs group gains London foothold with Aim listing". The Daily Telegraph. Retrieved 11 January 2017.
  8. ^ "Beximco Textiles opens fashion outlet 'Yellow' in Pakistan". bdnews24.com. Retrieved 11 January 2017.
  9. ^ "Shinepukur Ceramics opens showroom in Moscow". The Daily Star. 29 June 2009. Retrieved 11 January 2017.
  10. ^ "Beximco buys into Westin". bdnews24.com. Retrieved 11 January 2017.
  11. ^ "Beximco to buy GMG stake for Tk 70cr". The Daily Star. 18 June 2009. Retrieved 11 January 2017.
  12. ^ "Beximco buys Singer stake". bdnews24.com. Retrieved 11 January 2017.
  13. ^ "Beximco launches satellite TV service". The Daily Star. 29 April 2016.
  14. ^ "GS Group launches first DTH service in Bangladesh". Broadband TV News. 6 May 2016.
  15. ^ "Beximco launches DTH service Akash". The Daily Star. 17 May 2019.
  16. ^ Desk, Tribune. "Salman F Rahman, Anisul Huq arrested in Dhaka". Dhaka Tribune. Retrieved 13 August 2024. {{cite web}}: |archive-date= requires |archive-url= (help)CS1 maint: url-status (link)
  17. ^ "Robi, Meghna Petroleum, Beximco donate Tk6.93cr to Labour Welfare Fund". The Business Standard. 26 October 2021. Retrieved 6 December 2021.
  18. ^ a b "PM opens 200MW solar power plant". The Business Standard. 2 August 2023. Retrieved 21 August 2023.
  19. ^ "Teesta Solar plant improves power situation further". businesspostbd.com. Retrieved 21 August 2023.
  20. ^ a b c d e f "Home". BEXIMCO.
  21. ^ "About Us". Beximco Computers.
  22. ^ "About Beximco Engineering Ltd". Beximco Engineering.
  23. ^ "About Us". Giga Tech Ltd.
  24. ^ "About us". Yellow.
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