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Top Ten Companies in Bangladesh
1. ABUL KHAIR GROUP
A comprehensive overview of various incidents, activities, and legal issues involving the Abul Khair Group, a conglomerate based in Bangladesh.
Foundation and Business Operations: Established in 1953, the Abul Khair Group initially operated in the tobacco industry, later expanding into various sectors including cement, steel, and milk products.
Legal Violations and Accidents: The group faced legal consequences for several violations including offering free gifts with cigarettes in 2009, violating labeling rules for milk products in 2010, and illegal hill cutting in 2012. Additionally, accidents involving vessels owned by the group occurred, resulting in casualties in 2012.
Industrial Expansion and Environmental Concerns: The group sought permission for industrial expansion and faced scrutiny for violating environmental laws, particularly in their steel and power production plant.
Accidents at Sea: Incidents involving the sinking of vessels owned by the group were reported, prompting actions from maritime authorities for salvage operations.
Corporate Sponsorship and Legal Disputes: The Abul Khair Group engaged in corporate sponsorship, notably sponsoring the National School Chess Championship. However, they were also involved in legal disputes, such as a case filed against their milk products for deceptive marketing practices.
COVID-19 Response and Community Support: During the COVID-19 pandemic, the group contributed to the community by supplying free oxygen to hospitals and supporting the establishment of ICU operations for COVID-19 patients.
Legal Action and Tax Evasion Allegations: Legal action was taken against the group by Dhaka Custom House and other authorities for alleged involvement in tax evasion through false declarations during importation.
The article provides a detailed account of the various activities, legal issues, and community engagements of the Abul Khair Group, reflecting both positive contributions and challenges faced by the conglomerate in Bangladesh.
2. AKIJ GROUP
A Pillar of Bangladesh’s Industrial Landscape
Bangladesh, a country renowned for its burgeoning industrial sector, owes much of its economic resilience to the towering presence of Akij Group. Established as a modest venture, Akij has since burgeoned into one of the nation’s largest conglomerates, spearheading diverse industries that range from textiles to pharmaceuticals. With a robust presence in sectors like tobacco, food and beverage, cement, ceramics, printing and packaging, among others, Akij Group stands as a beacon of industrial prowess and economic contribution.
Founded on the principles of integrity and innovation, Akij Group has emerged as a cornerstone of Bangladesh’s economic landscape. Its journey to eminence began with a modest inception, but through strategic diversification and unwavering commitment to excellence, it has scaled unprecedented heights. Today, the conglomerate’s influence extends across various sectors, shaping the nation’s industrial narrative and contributing significantly to its economic prosperity.
A noteworthy aspect of Akij Group’s legacy is its substantial contribution to the national exchequer. In 2009 alone, the conglomerate paid a staggering 390 million euros in taxes, solidifying its position as the largest local taxpayer. Such fiscal responsibility not only underscores Akij’s commitment to its societal obligations but also highlights its integral role in fueling the nation’s economic engine. Contributing a substantial two percent to the country’s entire budget, Akij Group’s tax contributions are instrumental in funding vital infrastructure projects, social welfare programs, and developmental initiatives.
Moreover, Akij Group’s foray into diverse sectors underscores its adaptability and foresight. From textiles to pharmaceuticals, and from consumer products to information and communication technology, the conglomerate’s diversified portfolio reflects its strategic vision and keen market insight. By leveraging its expertise across multiple domains, Akij Group has not only mitigated risks but also capitalized on emerging opportunities, thereby fortifying its position as an industry leader.
One of the defining moments in Akij Group’s trajectory came in 2018 when it divested its tobacco division to Japan Tobacco International (JTI) for a staggering $1.47 billion. This landmark transaction not only marked the largest-ever single foreign direct investment in Bangladesh but also underscored Akij’s astute business acumen. The strategic decision not only unlocked significant value for the conglomerate but also
Paved the way for enhanced collaboration and synergy within the industry.
Furthermore, Akij Group’s commitment to corporate social responsibility (CSR) is exemplary. Recognizing the importance of giving back to the community, the conglomerate has initiated various welfare programs, focusing on education, healthcare, and environmental sustainability. Through initiatives like healthcare services and educational scholarships, Akij Group endeavors to uplift the underprivileged sections of society, thereby fostering inclusive growth and social development.
In conclusion, Akij Group stands as a towering testament to Bangladesh’s industrial prowess and economic resilience. From humble beginnings to becoming a juggernaut in the corporate arena, the conglomerate’s journey epitomizes the spirit of entrepreneurship, innovation, and sustainable growth. As Bangladesh marches towards a brighter future, Akij Group’s indelible imprint on the nation’s economic fabric is bound to endure, inspiring generations to come and driving progress on the path to prosperity.
3. BASHUNDHARA GROUP
Bashundhara Group, a prominent Bangladeshi conglomerate, stands as one of the nation’s largest manufacturing entities. Its journey commenced in 1987 under the name East West Property Development Ltd (EWPD), initially focusing on real estate endeavors. With the resounding success of its inaugural project, the company swiftly expanded its horizons. Presently, it commands a portfolio of over 50 significant enterprises scattered across Bangladesh. Notably, in the fiscal year 2022-23, the company’s import-export turnover soared to $1.12 billion or BDT 111.38 billion, showcasing its robust growth trajectory. Furthermore, in the fiscal year 2018, Bashundhara Group’s real estate assets were valued at an impressive BDT 50,000 crores, equivalent to $4.6 billion.
Founded by Ahmed Akbar Sobhan, Bashundhara Group evolved from its real estate roots into diversified sectors including manufacturing, industry, and trading following its initial success. During the early 1990s, the conglomerate ventured into various industries such as cement, paper, pulp, tissue paper, steel production, LP Gas bottling, and distribution. Notably, it obtained approval from the Bangladesh Economic Zones Authority to establish two specialized economic zones in Keraniganj, Dhaka.
The conglomerate’s strategic investments have significantly contributed to Bangladesh’s economic landscape. Noteworthy ventures include a $181 million investment in the food sector in 2013, facilitating the production of a wide array of food products. In 2020, Bashundhara Group invested $143.7 million in constructing Bangladesh’s largest bitumen plant, aiming to bolster the nation’s self-sufficiency in bitumen production. Moreover, the group ventured into the coal trading market in 2020, supplying 8 million tonnes of coal to the Rampal coal-fired power plant. Subsequent investments include a $909 million expenditure in 2021 to establish an oil refinery and a $546 million investment in 2022 to inaugurate Bangladesh’s maiden gold refinery. Additionally, Bashundhara Multi-Steel Industries invested $395 million in 2022 to commence the first phase of a steel manufacturing plant, with plans for a second phase worth $727 million, set to commence in 2025.
Bashundhara City, the conglomerate’s flagship shopping mall, stands as Bangladesh’s second-largest shopping complex. Its construction, initiated in 1998 and completed at a cost exceeding $100 million, was spearheaded by architects Mohammad Foyes Ullah and Mustapha Khalid Palash of Vistara. Officially opened to the public on August 6, 2004, Bashundhara City boasts 21 stories, with 8 dedicated to the mall, housing numerous Bangladeshi fashion outlets, jewelry shops, and around 100 food establishments offering various cuisines.
Despite facing adversities such as fires in 2009 and 2016, Bashundhara Group’s resilience has remained unwavering, solidifying its position as a cornerstone of Bangladesh’s economic landscape. Presently, the conglomerate oversees an extensive portfolio of over 50 concerns, spanning diverse sectors ranging from real estate and cement to telecommunications and sports, thereby cementing its status as a driving force in Bangladesh’s industrial and commercial sectors.
The Bashundhara Group Currently Manages More Than 50 Enterprises
1. East West Property Development (Pvt) Limited
2. Meghna Cement Mills Limited
3. Bashundhara Shipping Lines Limited
4. Bashundhara Shipping Limited
5. Bashundhara Logistics Limited
6. Bashundhara Horticulture Limited
7. Bashundhara Chemical Industries Limited
8. Bashundhara Trading Company Limited
9. Bashundhara International Trade Center Limited
10. Bashundhara Multi Trading Limited
11. Bashundhara General Trading LLC Dubai
12. Bashundhara Employment Services
13. Bashundhara Electricity Limited
14. Bashundhara Infrastructure Development Limited
15. Bashundhara Import Export Limited
16. Bashundhara Agricultural Products Limited
17. Bashundhara Multi Agricultural Company Limited
18. Bashundhara Multi Paper Industries Limited
19. Bashundhara Amusement Park Limited
20. Bashundhara Oil and Gas Company Limited
21. Bashundhara Multipurpose Port Limited
22. Bashundhara Textile Mills Limited
23. Bashundhara Airways Limited
24. Bashundhara Multi Food Products Limited
25. Bashundhara Technologies Limited
26. Bashundhara Paper Mills Limited
27. Bashundhara Fine Paper Limited
28. Bashundhara Pulp & Board Mills Limited
29. Bashundhara LP Gas Limited
30. Bashundhara City Development Limited
31. Bashundhara Steel Complex Limited
32. Bashundhara Industrial Complex Limited
33. Bashundhara Steel And Engineering Limited
34. Bashundhara Multi Steel Industries
35. Bashundhara Foundation
36. Bashundhara Convention Center
37. Bashundhara Dredging Company Limited
38. Bashundhara Technical Institute
39. Bashundhara Telecommunications Network Limited
40. Bashundhara Food and Beverage Industries Limited
41. Sundarban Industrial Complex Limited
42. Bashundhara Cement Industries Limited
43. Bashundhara Toiletries Limited
44. Bashundhara Pre-Fabricated Building Manufacturing Industries
45. Dhaka Multi Agricultural Complex Limited
46. Sea Real Estate Developers Limited
47. East West Media Group
48. Bashundhara Kings
49. Rangpur Riders
50. Kebab Turki Baba Rafi (Bangladesh)
51. Toggi Services Limited
52. T Sports
53. Bir Cement Limited
4. CITY GROUP
City Group, a prominent Bangladeshi conglomerate, traces its roots back to February 6, 1972, when it embarked on its journey as a mustard oil company named City Oil Mills. Spearheaded by Fazlur Rahman, a notable figure in Bangladesh’s private sector, the company experienced a significant breakthrough with its inaugural project. This success propelled City Group towards rapid expansion. Today, it boasts a diverse portfolio comprising over 25 major entities spread across Bangladesh, solidifying its position as one of the nation’s top ten business entities.
Over the years, City Group diversified its interests, venturing into various sectors such as manufacturing, industry, and trading. In the early 1990s, it further expanded its footprint by establishing enterprises encompassing consumer goods, foods, steel, printing & packaging, shipping, power and energy, shares and securities, insurance, media, and healthcare.
A notable milestone occurred on October 4, 2017, when the Government of Bangladesh sanctioned the export of 57,273 tonnes of Sugar by Deshbandhu Group and City Group. This approval underscored City Group’s significant presence and contribution to the nation’s economy.
Looking ahead, City Group is poised to make strides in technological innovation with its ambitious plan to construct a state-of-the-art Hi-Tech Park in Demra, Dhaka. This initiative, touted as the largest of its kind undertaken by a private entity, aims to attract an investment of 50 billion BDT and generate 15,000 employment opportunities. Spanning 115 acres of land in Demra, the park will focus on manufacturing cutting-edge technology products such as microprocessors, chips, circuits, mobile phones, and laptops. Investors in the park can anticipate streamlined government support and efficient services, facilitating a conducive environment for growth and development.
The impressive roster of companies under the City Group umbrella reflects its diverse business interests and expansive reach. Some notable entities include Asgar Ali Hospital Ltd., Ekhon Television Spice Television Limited, C.S.I Power & Energy Ltd., and many others, totaling over 25 major concerns. This diverse portfolio underscores City Group’s commitment to excellence and innovation across various sectors, cementing its status as a cornerstone of Bangladesh’s business landscape.
The City Group Currently Manages 35 Sister Concern Company
1. Asgar Ali Hospital Ltd.
2. Ekhon Television Spice Television Limited.
3. C.S.I Power & Energy Ltd.
4. Chandpur Belgaon Tea estate, Banskhali, Chittagram.
5. City Bran Oil Ltd.
6. City Dal Mills Ltd.
7. City Edible Oil Ltd
8. City Feed Products Ltd.
9. City Fibers Ltd.
10. City Navigations Ltd.
11. City Oil Mills
12. City PET Industries Ltd.
13. City Re-rolling Mills
14 City Salt Industries Ltd.
15. City Seed Crushing Industries Ltd.
16. City Sugar Industries Ltd.
17. City Vegetable Oil Mills Ltd.
18. Deepa Food Products Ltd.
19. Dhaka Insurance Ltd.
20. Farzana Oil Refineries Ltd.
21. Hamida Plastic Industries Ltd.
22. Hasan Containers Ltd.
23. Hasan Flour Mills Ltd.
24. Hasan Plastic Industries Ltd.
25. Hasan Printing & Packaging Ltd.
26. Hasan Securities Ltd.
27. Nahar Tea Estate, Sreemongal, Moulovibazar.
28. New Sagurnal Tea Co. Ltd. Juri, Moulovibazar.
29. Rahman Synthetics Ltd.
30. Rupshi Flour Mills Ltd
31. Shampa Flour Mills Ltd.
32. Shampa Oil Mills Ltd.
33.Somoy Media Ltd.
34. Speech Bubble Communications Ltd.
35. VOTT Oil Refineries Ltd.
5. JAMUNA GROUP
Jamuna Group stands as one of Bangladesh’s foremost industrial conglomerates, with operations spanning diverse sectors such as Textiles, Chemicals, Leather, Motorcycles, Consumer Products, Media, and Advertisement. Founded in the 1970s by Nurul Islam Babul, an architect by profession, the group is renowned for establishing Jamuna Group and constructing the iconic Jamuna Future Park. Babul’s entrepreneurial endeavors extended to media ownership, including the Bangla daily Jugantor and the television channel Jamuna TV. In recent times, the Jamuna Group has embarked on philanthropic efforts, establishing a non-profit organization (NPO) aimed at ameliorating the plight of Rohingya refugees in Bangladesh. Notably, the group has contributed a substantial sum of $5,000,000 to the NPO.
The Jamuna Group Currently Manages 27 Sister Concern Company
1. Business Enterprise
2. Jugantor, a national daily newspaper
3. Jamuna Future Park, the largest shopping mall in Bangladesh
4. Jamuna TV
5. JW Marriott Hotels (Bangladesh)
6. Crown Beverage
7. Jamuna Knitting & Dyeing Ltd.
8. Jamuna Denims Ltd.
9. Jamuna Spinning Mills Ltd.
10. Shameem Spinning Mills Ltd.
11. Shameem Composite Mills Ltd.
12. Shameem Rotor Spinning Ltd.
13. Jamuna City
14. New Uttara Model Town
15. Pegasus Leathers Ltd.
16. Jamuna Distillery Ltd.
17. Jamuna Welding Electrode Ltd.
18. Jamuna Electronics & Automobiles.
19. Jamuna Tyre
20. Jamuna Paper
21. Jamuna PVC Pipe
22. Jamuna Motorcycles
23. Jamuna Rubber and Tyre
24. Jamuna Paper
25. Jamuna Poly Silk
26. Hoorain HTF
27. Wholesale Club Ltd
6. BEXIMCO GROUP
BEXIMCO, officially known as Bangladesh Export Import Company Limited, stands as a prominent Bangladeshi multinational conglomerate, headquartered in Dhaka, Bangladesh. Established in the early 1970s, BEXIMCO has grown to become the largest conglomerate in Bangladesh, boasting the highest market capitalization on the country’s stock exchange. With operations spanning various sectors, including textiles, pharmaceuticals, PPE, ceramics, real estate, construction, trading, marine food, information and communication technologies, media, DTH, financial services, and energy, BEXIMCO has emerged as a key player in the global market. Its subsidiaries export products to 55 countries worldwide and maintain retail outlets across South Asia and Eastern Europe, employing over 70,000 individuals globally.
At the heart of BEXIMCO’s operations lies its expansive textile production business, housed primarily in the BEXIMCO Industrial Park located in Gazipur, Bangladesh. Additionally, Beximco Pharma, the conglomerate’s pharmaceutical arm, made history as the first Bangladeshi company to be listed on the London Stock Exchange. Founded by brothers A. S. F. Rahman and Salman F Rahman in 1972, BEXIMCO traces its roots to a family involved in the jute business, which was later nationalized before being reclaimed following free market reforms in the late 1970s and 1980s.
Throughout its history, BEXIMCO has been at the forefront of industrial and business innovation, continually diversifying its portfolio across various industries such as pharmaceuticals, ceramics, renewable energy, LPG, food & beverage, satellite television, PPE, media, ICT, real estate, financial services, and travel & tourism. Notable milestones include Beximco Pharma’s listing on the Alternative Investment Market of the London Stock Exchange in 2005 and the launch of Bangladesh’s first DTH satellite television service under the brand name RealVU in 2016, later rebranded as Akash in 2019.
Salman F Rahman, serving as BEXIMCO’s vice chairman, has played a pivotal role in the conglomerate’s growth and development. Holding positions as a Private Sector Development Affairs Adviser to Prime Minister Sheikh Hasina and as Private Sector Industry and Investment Adviser, Rahman has been instrumental in shaping Bangladesh’s economic landscape.
In line with its commitment to corporate social responsibility, BEXIMCO, alongside other companies, recently donated 6.93 crore to the Labour Welfare Fund, providing support to workers in both formal and informal sectors for various needs, including accidental deaths, treatment of injuries, incurable diseases, and higher education for their children. Moreover, in 2023, BEXIMCO Group inaugurated Teesta Solar Limited, a significant addition to the nation’s renewable energy infrastructure, contributing to the power supply to the national grid. Located on the banks of the Teesta River, the plant spans 600 acres of land and boasts 520,000 solar panels with a capacity to produce 200MW of electricity.
PRODUCTS OF BEXIMCO GROUP
1. Banking – IFIC Bank
2. Ceramic
3. Construction
4. DTH
5. Electric power generation
6. Fashion
7. Fisheries
8. Food & beverage
9. Hotels
10. Information technology
11. Media
12. Petroleum products
13. Pharmaceuticals
14. PPE
15. Private satellite television channel
16. Real estate
17. Renewable energy
18. Sports team & franchise
19. Textiles
20. Travel & tourism
The BEXIMCO Group Currently Manages 14 Sister Concern Company
1. Bangladesh Export Import Co. Ltd.
2. Beximco Pharma (public)
3. Beximco Computers Ltd.
4. Beximco Engineering Ltd.
5. Beximco Aviation Limited
6. Beximco Petroleum Ltd.
7. Beximco Power Company Ltd.
8. Giga Tech Ltd.
9. Independent Television
10. Shinepukur Ceramics
11. Yellow
12. IFIC Bank
13. BEXTRADE
14. Dhaka Dynamites (BPL team)
7. ACI Limited
Established in 1973, Advanced Chemical Industries, commonly known as ACI is a prominent Bangladeshi pharmaceuticals and conglomerate corporation headquartered in Tejgaon I/A, Dhaka. Renowned for its presence in the pharmaceuticals and chemical sectors, ACI is a leader in Bangladesh’s industrial landscape.
ACI Limited, a multinational conglomerate, operates extensively across Bangladesh through four strategic business units:
1. ACI Pharmaceuticals: Dedicated to enhancing the nation’s health with innovative and dependable pharmaceutical products.
2. ACI Consumer Brands: Supplies a wide range of daily consumer goods, including toiletries, home care products, hygiene items, electrical appliances, consumer electronics, paints, and essential food items like salt, flour, rice, tea, and edible oil.
3. ACI Agribusinesses: The largest integrator in Bangladesh’s agriculture sector, covering agriculture, livestock, fisheries, farm mechanization, infrastructure development services, and motorcycles.
4. ACI Logistics Limited: The largest retail chain in Bangladesh, operating 144 Shwapno outlets, including 34 express outlets nationwide, impacting over 45,000 households daily.
In 1968, Imperial Chemical Industries, a British multinational, established a branch in then-East Pakistan. Following Bangladesh’s independence in 1971, the company was incorporated on January 24, 1973, as ICI Bangladesh Manufacturers Limited, transitioning into a public limited company. On May 5, 1992, ICI divested its Bangladesh investments to the management, leading to the renaming of the company as Advanced Chemical Industries (ACI) Limited. In 2015, ACI sold its insect control, air care, and toilet care brands to SC Johnson & Son. Notably, during the fiscal year 2019–2020, the company contributed Tk 4,318 million to the national exchequer through corporate tax, customs duties, and value-added tax.
The ACI Ltd Currently Manages 15 Sister Concerns Enterprises
1. ACI Formulations Limited
2. ACI Salt Limited
3. ACI Pure Flour Limited
4. ACI Foods Limited
5. ACI Agrolink Limited
6. Creative Communication Limited
7. Premiaflex Plastics Limited
8. ACI Motors Limited (Yamaha)
9. ACI Logistics Limited (Shwapno)
10. ACI Edible Oils Limited
11. ACI HealthCare Limited
12. ACI Chemicals Limited
13. INFOLYTX Bangladesh Limited
14. ACI Biotech Limited
15. ACI Marine and Riverine Technologies Limited
The ACI Ltd Currently Manages 6 joint venture companies
1. Tetley ACI (Bangladesh) Limited
2. Asian Consumer Care (Pvt.) Limited
3. ACI Godrej Agrovet Private Limited
4. ACI CO-RO Bangladesh Ltd.
5. Stochastic Logic Limited.
8. PRAN-RFL Group
Established in 1981 by Amjad Khan Chowdhury, PRAN-RFL Group stands as a prominent Bangladeshi conglomerate with an extensive global footprint. Renowned for its diverse business ventures spanning food and beverage, plastics, and agricultural machinery, the group operates across 145 countries, employing a workforce exceeding 140,000 individuals. Headquartered in Dhaka, Bangladesh, PRAN-RFL Group oversees various subsidiaries, including Pran Foods, RFL Plastics, and Pran-RFL Healthcare.
Pran Foods, the group’s flagship entity, boasts a reputation for its widely consumed juice and snack offerings. Meanwhile, RFL Plastics ranks among the largest plastic manufacturers in South Asia, manufacturing an array of household and industrial plastic products. Beyond its primary sectors, the conglomerate also engages in real estate, media, and hospitality endeavors. Collaborating with global entities like PepsiCo, Danone, and Nestlé, PRAN-RFL Group has ventured into numerous joint initiatives.
In recent years, the group has directed its efforts toward expanding operations within the Middle East and Africa. Additionally, PRAN-RFL Group actively participates in corporate social responsibility initiatives, focusing on education, healthcare, and environmental conservation. Recognized for its significant contributions to Bangladesh’s economy, the company has earned accolades and distinctions, solidifying its position as a premier employer within the nation.
Originating as PRAN (Programme for Rural Advancement Nationally), the group has evolved into one of Bangladesh’s leading food and beverage brands. Pioneering agribusiness initiatives, PRAN facilitated farmer empowerment through guaranteed pricing structures. Under its subsidiary, PRAN Foods, the company cultivates a variety of agricultural products, further bolstering its market presence. Expanding its global reach, PRAN established a subsidiary in the UAE in 2003.
In 2008, following the Indian government’s lifting of bans on direct investments from Bangladesh, PRAN announced plans to establish a production facility in Tripura, India. By 2016, the group’s exports had surged to 10 billion taka, with key markets including India, Saudi Arabia, the UAE, Malaysia, and Oman. Exceeding US$500 million in revenue the same year, PRAN further diversified its exports, including potatoes, cassava, and other commodities.
Embracing new trade routes, PRAN initiated exports via river routes to India from Bangladesh in March 2021, showcasing its commitment to innovative strategies in international trade. With a workforce of 80,000 direct employees and 200,000 indirect employees, PRAN’s global exports extend to over 118 countries, underscoring its status as a formidable player in the global marketplace.
PRAN RFL Group now operate 21 Sister concern company.
1. Agricultural Marketing Co. Ltd
2. Mymensingh Agro Limited
3. Banga Bakers
4. Natore Agro Limited Natore Dairy Limited PRAN Agro Limited PRAN Agro farm Business Limited PRAN Beverage Limited
5. PRAN Confectionery Limited PRAN Dairy Limited PRAN Foods Limited Banga Miller Limited Banga Agro Processing Limited Advance Personal Care Limited
6. Chorka Fashions Limited
7. Chorka Textile Limited
8. Rangpur Foundry Limited
9. Gonga Foundry Limited
10. RFL Plastics Limited Durable Plastic Limited Banga Plastic International Limited Rangpur Metal Industries Limited
11. Banga Building Materials Limited
12. Trade Environment Limited
13. Allplast Bangladesh Limited
14. RFL Electronics Limited
15. Getwell Limited Bangladesh Lift Industries Limited RFL Construction Limited
16. Multi -Line Industries Limited
17. Accessories World Limited
18. Habiganj Ceramics Limited
19. Property Development Limited
20. AKC (Pvt.) Limited AKC Management Limited Logi-Care Overseas Limited Career Builders Limited Banga Trading House Limited
21. Tasty Treat RFL Door Othoba.com
9. Meghna Group of Industries
Meghna Group of Industries (MGI) stands as one of Bangladesh’s largest industrial conglomerates, encompassing a diverse array of sectors including chemicals, cement, consumer products, real estate, insurance, securities, and utilities.
Its origins can be traced back to Kamal Trading Company, founded in 1976 by Mostafa Kamal. However, the company faced initial challenges with poor-quality products seized by customs during early small-scale import ventures. Despite these setbacks, the company persevered, experiencing both triumphs and hurdles throughout its journey.
In 1989, the company expanded its operations by establishing Meghna Vegetable Oil Industries Limited, marking a significant milestone. Later in the 1980s, it rebranded as “Meghna Group,” reflecting its evolution into a conglomerate of companies.
Venturing into the financial sector, the group established Bangladesh National Insurance Company Limited (BNIC) in May 1996, with Mostafa Kamal assuming the role of chairman. Subsequent years saw further diversification with the establishment of subsidiary companies such as United Fibre Industries Limited (1999) for small bag manufacturing, United Feeds Limited (2001) for poultry feed production, and Tanveer Polymer Industries Limited (2002) for export-oriented WPP bag manufacturing.
The group continued its expansion into various sectors, including CNG and chemical businesses, with the establishment of Everest CNG Refueling & Conversion Limited and Tasnim Chemical Complex Limited. In 2011, Meghna Group ventured into aviation services with the founding of Meghna Aviation Limited, offering helicopter rental services.
In 2013, the group entered the news media industry by acquiring a 50% stake in Ekattor TV, later recognized for its news coverage. Subsequent years witnessed the establishment of ventures such as Sonargaon Steel Fabricate Limited (2017) and Meghna Sugar Refinery Limited, which secured substantial financing for its operations.
In 2021, Meghna Group ventured into the shipping industry with the launch of two oceangoing vessels, further expanding its fleet. The group also entered the ceramic business with Fresh Ceramics under Meghna Ceramic Industries Limited, making significant investments in manufacturing facilities.
Further demonstrating its commitment to expansion, the group initiated the construction of Cumilla Economic Zone in April 2022, alongside other ventures like rice mill and rice bran oil plant manufacturing units. Despite challenges such as the seizure of food products by authorities, the group continued its growth trajectory, joining industry associations and securing investments for future projects.
Looking ahead, Meghna Group plans to establish additional rice mills and secure investments for its subsidiary Tanveer Foods Limited, while also expanding its fleet with the launch of new oceangoing vessels, showcasing its ongoing commitment to growth and diversification in Bangladesh’s industrial landscape.
There are 41 Subsidiaries of Meghna Group
1. Fresh (fast moving consumer goods)
2. Meghna Vegetable Oil Industries Limited
3. Meghna Sugar Refinery Limited
4. Meghna Beverage
5. Unique Cement Fiber Industries
6. Fresh Cement
7. Sonargaon Steel Fabricate Limited
8. Sonargaon Green Concrete Bricks and Blocks
9. Kamal Trading Company
10. Fresh Ceramics
11. Tasnim Chemical Complex Limited
12. Meghna PVC Limited
13. Meghna Economic Zone
14. Meghna Industrial Economic Zone Limited
15. Cumilla Economic Zone
16. Everest CNG Refueling & Conversion Limited
17. MGI Transport and Logistics
18. Fresh LPG
19. Meghna Power
20. Meghna Pulp & Paper Mills Limited
21. Fresh exercise books
22. Fresh Paper
23. Meghna Ballpen & Accessories Mfg. Limited
24. Sonargaon Printing & Packaging Industries Limited
25. Meghna Foil Packaging Limited
26. Fresh Happy Nappy Diaper
27. United Feeds Limited
28. Soya Bean & Rape Seed processing plant
29. Meghna Seeds Crushing Mills Limited
30. United Fibre Industries Limited
31. Tanveer Polymer Industries Limited
32. Meghna Aviation Limited
33. Meghna Shipping
34. Bangladesh National Insurance Company Limited
35. Dhaka Securities Limited
36. Meghna Hotel and Resorts
37. The Central Hospital Limited
38. The Barakah General Hospital Limited
39. Meghna Information Technology
40. Meghna Properties Limited
41. Ekkator Television
10. S. Alam Group of Industries
S. Alam Group, a notable Bangladeshi industrial conglomerate, boasts a wide-ranging investment portfolio spanning banking, leasing, insurance, stock brokering, and merchant banking. Its industries encompass an extensive array, including food and allied products, steel, consumer goods, sugar, cement, power, energy, transportation, shipping, manufacturing, hospitality, financial institutions, agro, trading, oil, and gas.
In April 2009, S. Alam Group acquired Oman Bangladesh Leasing and Finance Limited, appointing Md Saiful Alam Masud, chairman of S. Alam Group and First Security Islami Bank Limited, as chairman of the acquired entity. In 2013, the group entered an agreement with SEPCO3 to construct a power plant in Chittagong, sparking the Banshkhali power plant movement due to environmental concerns raised by activists.
On January 5, 2015, Ekushey Television abruptly ceased transmissions following the airing of a speech by Tarique Rahman, senior vice chairman of the Bangladesh Nationalist Party. Subsequently, Ekushey’s chairman, Abdus Salam, was arrested under allegations related to the Pornography Act of 2012. Later, S. Alam Group acquired Ekushey Television in October 2015.
In 2017, S. Alam Group acquired 50% of the shares of Social Islami Bank Limited through 19 subsidiaries, leading to a hostile takeover, and later took over Islami Bank Bangladesh Ltd. The takeover sparked controversy, with accusations of substantial loans taken from banks and investments in Singapore. The group also purchased shares in Padma Islami Life Insurance Company in October 2018.
Tragedy struck in April 2021 when police firing at protesting workers at the Banshkhali power plant resulted in the death of five workers and injuries to many others. Bangladesh High Court ordered S. Alam Group to compensate the victims. The company also launched Nexus Television in July 2021.
Moreover, allegations surfaced regarding S. Alam Group’s involvement in market manipulation, prompting calls for investigations from Prime Minister Sheikh Hasina. Bangladesh Bank provided emergency funds to S. Alam Group-owned banks, further intensifying scrutiny. In January 2023, Islami Bank Bangladesh Ltd, owned by S. Alam Group, received substantial emergency funding from Bangladesh Bank.
In 2022, S. Alam Group was among five Bangladeshi groups importing over one billion dollars worth of raw materials, further solidifying its prominent position in the country’s industrial landscape.
The S. Alam Group Currently Manages More Than 50 Enterprises
1. S. Alam Soya Seed Extraction Plant Ltd.
2. S. Alam Vegetable Oil Limited.
3. S. Alam Super Edible Oil Limited.
4. S. Alam Refined Sugar Industries Ltd.
5. S. Alam Refined Sugar Industries Ltd. (Unit-2)
6. S. Alam Tank Terminal Ltd.
7. S. Alam Cement Ltd.
8. Portland Cements Ltd.
9. S. Alam Steels Ltd.
10. S. Alam Cold Rolled Steels Ltd.
11. S. Alam Cold Rolled Steels Ltd. (Unit-2)
12. Galco Steels (BD) Ltd.
13. Galco Steels (BD) Ltd. (Unit-2)
14. Power and energy
15. Karnaphuli Prakritik Gas Co. Ltd.
16. Shah Amanat Prakritik Gas Co. Ltd.
17. S. Alam Power Plant Ltd.
18. S. Alam Power Plant ltd. (Unit-2)
19. S. Alam Power Generation Ltd.
20. SS Power 1 Ltd, Gondamara, Baskhali (660 MW Coal Power Plant).
21. SS Power 2 Ltd, Gondamara, Baskhali (660 MW Coal Power Plant).
22. Transportation
23. S. Alam Luxury Chair Coach Services Ltd.
24. Bering Sea Lines
25. Manufacturing
26. S. Alam Bag Manufacturing Mills Ltd.
27. S. Alam Properties Ltd.
28. Hasan Abason (Pvt.) Ltd.
29. Modern Properties Ltd.
30. Ocean Resorts Ltd.
31. Prasad Paradise Ltd.
32. Marine Empire
33. Fatehabad Farm Ltd.
34. S. Alam Brothers Ltd.
35. S. Alam Trading Co. (Pvt.) Ltd.
36. S. Alam & Company
37. Sonali Cargo Logistics (Pvt.) Ltd.
38. Sonali Traders
39. Global Trading Cor. Ltd.
40. Shonar Bangla Brothel Co. Ltd.
41. Banks and non-bank financial institution of S. Alam
42. Islami Bank Bangladesh Limited
43. First Security Islami Bank
44. Al-Arafah Islami Bank Limited
45. Bangladesh Commerce Bank Limited
46. Union Bank Limited
47. Global Islami Bank (formerly NRB global bank limited)
48. Social Islami Bank Limited
49. Aviva Finance (previously Reliance Finance)
50. Reliance Brokerage Services Limited
51. Uganda Finance
