BEXIMCO

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Bangladesh Export Import Company Limited
TypePublic
DSE: BEXIMCO
CSE: BEXIMCO
IndustryConglomerate
Founded1972; 50 years ago (1972)
Founders
Headquarters
Dhaka
,
Bangladesh
Area served
Worldwide
Key people
  • A. S. F. Rahman​ (chairman)
  • Salman F Rahman (vice​ chairman)
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, commonly known by its trade name BEXIMCO (DSE: BEXIMCO CSE: BEXIMCO), is a 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's subsidiaries export products to 55 countries worldwide.[4] It has retail outlets in South Asia and Eastern Europe.

Beximco operates one of the largest integrated textile production businesses in Asia. It is also a major exporter of jute yarn. 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[]

The company was founded by brothers A. 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.[5]

In 2005, Beximco Pharma became the first Bangladeshi company to be listed on the Alternative Investment Market of the London Stock Exchange.[6] Beximco also opened its first overseas retail outlet with the launch of the Yellow clothing brand in Karachi, Pakistan.[7] Yellow has since expanded to several Bangladeshi and Pakistani cities. In 2009, Shinepukur Ceramics opened a showroom in Moscow, Russia.[8] In 2010, the company acquired stakes in several major Bangladeshi businesses, including IFIC Bank, GMG Airlines, The Independent newspaper and Unique Hotels and Resorts.[9][10][11]

Beximo 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.[12][13] RealVU later suspended operations, but was rebooted as Akash in 2019.[14] As of 2021, Akash had 270,000 subscribers and was still losing money.[15]

The company is considered to enjoy close connections with the Awami League, with its vice chairman Salman F Rahman serving as a Private Sector Development Affairs Adviser to Prime Minister and Bangladesh Awami League President Sheikh Hasina, the current Prime Minister of Bangladesh, in the past and as Private Sector Industry and Investment Adviser at the moment.[4]

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.[16]

Key officials[]

A branch of IFIC Bank. Beximco is the single largest stakeholder in the bank, which is one of Bangladesh's largest.
The Dhaka Westin property is partly owned by Beximco.
  • A. S. F. Rahman, Chairman
  • Salman F Rahman, Vice-chairman
  • Shayan F Rahman, Advisors to the Board
  • Shahryar Rahman, Advisors to the Board
  • Iqbal Ahmed, Group Director
  • ABS Rahman, Group Director
  • O K Chawdhury, Group Director and CEO (Power & Engineering)
  • Nazmul Hasan Papon, Group Director and CEO (Pharmaceuticals)
  • Syed Naved Hussain, Group Director and CEO (Textiles)
  • Sami Wadood, Group Director and CEO
  • Ajmal Kabir, Group Director
  • Hamayun Kabir FCA, CEO (IFIC Bank)
  • 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

Products[]

  • Aviation
  • Banking - IFIC Bank
  • Ceramic
  • Construction
  • DTH
  • Electric Power Generation
  • Fashion
  • Fisheries
  • Food & beverage
  • Information Technology
  • Jute
  • Hotels
  • Media
  • Petroleum Products
  • Pharmaceuticals
  • PPE
  • Private Satellite Television Channel
  • Travel & tourism
  • Textiles
  • Real Estate
  • Renewable energy

Subsidiaries[]

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

See also[]

References[]

  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 "Salman F Rahman remains Sheikh Hasina's adviser". bdnews24.com. Retrieved 11 January 2017.
  5. ^ www.beximco.com. "BEXIMCO - Taking Bangladesh to the World". beximco.com. Retrieved 4 November 2021.
  6. ^ Murray-West, Rosie. "Bangladeshi drugs group gains London foothold with Aim listing". The Daily Telegraph. Retrieved 11 January 2017.
  7. ^ "Beximco Textiles opens fashion outlet 'Yellow' in Pakistan". bdnews24.com. Retrieved 11 January 2017.
  8. ^ "Shinepukur Ceramics opens showroom in Moscow". The Daily Star. 29 June 2009. Retrieved 11 January 2017.
  9. ^ "Beximco buys into Westin". bdnews24.com. Retrieved 11 January 2017.
  10. ^ "Beximco to buy GMG stake for Tk 70cr". The Daily Star. 18 June 2009. Retrieved 11 January 2017.
  11. ^ "Beximco buys Singer stake". bdnews24.com. Retrieved 11 January 2017.
  12. ^ "Beximco launches satellite TV service". The Daily Star. 29 April 2016.
  13. ^ "GS Group launches first DTH service in Bangladesh". Broadband TV News. 6 May 2016.
  14. ^ "Beximco launches DTH service Akash". The Daily Star. 17 May 2019.
  15. ^ Hossain, Ismail (17 October 2021). "Akash DTH to get spectrum charge waiver of Tk 111.56m". The Financial Express. Dhaka.
  16. ^ "Robi, Meghna Petroleum, Beximco donate Tk6.93cr to Labour Welfare Fund". The Business Standard. 26 October 2021. Retrieved 6 December 2021.
  17. ^ a b c d e f g "Home". BEXIMCO.
  18. ^ "About Us". Beximco Computers.
  19. ^ "About Beximco Engineering Ltd". Beximco Engineering.
  20. ^ "About Us". Giga Tech Ltd.
  21. ^ "About Us". The Independent.
  22. ^ "About us". Yellow.

External links[]

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