Abul Khair Group
Formation1953
FounderAbul Khair
HeadquartersChittagong, Bangladesh
Region served
Bangladesh
Revenue
IncreaseUS$8.7 billion
Staff
45,000
Websitewww.abulkhairgroup.com

Abul Khair Group (Bengali: আবুল খায়ের গ্রুপ) is a Bangladeshi diversified conglomerate based in Chattogram.[1][2] Abul Kashem is the chairperson and Abul Hashem is the managing director of Abul Khair Group.[3] Abu Syed Chowdhury is the deputy managing director and Shah Shafiqul Islam is the group director. All four are sons of Abul Khair.[3]

History

Abul Khair Group was founded in 1953 as a maker of Beedi, hand rolled cigarettes.[4]

Abul Khair Tobacco Company Limited offered free gifts with their cigarettes in 2009. This violated Narcotics Control Act, 2005 which prohibits the advertising and promotion of tobacco products.[5]

A mobile court fined Abul Khair Group for breaking Bangladesh Standards and Testing Institution rules by not labeling their milk products with a Maximum Retail Price on 2 February 2010.[6]

On 16 February 2011, two vessels owned by Abul Khair Group, MV Titu-22 and MV Titu-21, sank off the coast of Kutubdia Lighthouse near the Port of Chittagong after colliding with MV RAMSI. They had 26 crews of whom seven were lost at sea.[7][8]

In May 2012, Bangladesh Inland Water Transport Authority started an eviction against Shah Cement factory on the banks of Shitalakkhya in Munshiganj District.[9] They sought to demolish two jetties which they alleged were built illegally.[9] The Bangladesh Inland Water Transport Authority were ordered to slow down the drive as the Minister of Shipping Shajahan Khan was negotiating with the owners of Abul Khair Group.[9] The drive was suspended after successful negotiations.[9] Department of Environment fined Abul Khair Group 4 million taka for illegally cutting hills in Sitakunda Upazila in July 2012.[10]

A Chinese construction worker died while working on building of Abul Khair Steel Re-Rolling Mill on 19 August 2013. He was employed by a Chinese subcontractor hired by Abul Khair.[11]

Abul Khair Group has an industrial hub in Sitakunda Upazila in Chittagong District.[12][13] They sought permission from Board of Investment to secure a loan from a foreign bank to expand their re-rolling plant in Sitakunda in July 2015.[12]

In January 2018, Anti-Corruption Commission interrogated three directors of the group on allegations of loan embezzlement and tax dodging.[14] Abul Khair Steel was recognized as a Superbrand in September 2018.[15]

Abul Khair Group-Head office-Chittagong, Bangladesh

Abul Khair Group owned Shah Cement had the largest market share in Bangladesh in 2019.[16] In December 2019, Shah Cement Industries set up the largest vertical roller cement mill in the world per Guinness World Records. The roller was built by Danish company FLSmidth.[17] Department of Environment found Abul Khair Steel and Power Limited, located in Madambibir Hat, Sitakunda Upazila, had violated environmental laws. The plant had received permission to produce 25 megawatts but it was producing 75 megawatts illegally. The plant was also operating without the air treatment plant which was inoperable.[18]

MV Borni Prince-2, owned by Abul Khair Group, sank after hitting a port buoy near Karnaphuli River. It was carrying out 1,400 tonnes of scrap metals taken from a vessel anchored offshore. The crew was rescued by another nearby vessel according to Bangladesh Inland Water Transport Authority. Bangladesh Coast Guard and Bangladesh Navy were tasked to salvage the ship.[19]

Abul Khair Group signed an agreement with Bangladesh Chess Federation in February 2020 to sponsor National School Chess Championship.[20]

On 21 September 2020, a vessel, Titu-19, owned by Abul Khair Group partially capsized near Bhasan Char.[21] It was carrying cement clinkers, around 1,250 tonnes, from a mothership anchored off Chittagong Port to Moktarpur in Munshiganj District.[21] According to an official of Bangladesh Inland Water Transport Authority, the boat develop cracks due to strong currents. According to the Lighter Vessel Workers Association, the crew was rescued by Arju, an oil tanker.[21][22]

Mohammad Kamrul Hasan, sanitary inspector of Dhaka South City Corporation, filed a case against chairman Abul Kashem and chief executive officer BR Sharma of Abul Khair Milk Products Limited accusing them of using deceptive marketing practices in promoting Marks Diabetic Milk. On 11 November 2020, Khadiza Bhuiyan of Dhaka Court found in favor of the defendant and Hasan said he plans to file an appeal against the verdict.[23] Hasan told New Age newspaper that "We are fighting a losing battle".[24]

In June 2020, Abul Khair Group supplied free oxygen to hospitals in Chittagong during the COVID-19 pandemic in Bangladesh from its steel plant that also had an industrial oxygen production unit.[25] Hospitals receiving oxygen included Chattogram Field Hospital, Chittagong General Hospital, and Bangladesh Institute of Tropical and Infectious Diseases.[25] They also provided support to AHM Mustafa Kamal, Minister of Finance, to start ICU operations in his constituency for COVID-19 patients in April 2021.[26]

In 2021, Dhaka Custom House took legal action against Abul Khair Group, along with 26 other companies for being involved in importing goods using false declarations in order to evade Value Added Tax (VAT) and recovered BDT 1.2 crore from one of its subsidiaries Abul Khair Steels (AKS).[27]

Businesses

  • Abul Khair Steel-Cow Brand
  • Shah Cement[28]
  • Ready Mix Concrete[28]
  • Marks Full Cream Milk Powder[28]
  • AMA Full Cream Milk Powder[28]
  • Seylon Tea[28]
  • Artistry Marble & Granite[28]
  • Coffee Bite[28]
  • Cereal[28]
  • Stella Luxury Sanitary Ware[28]
  • Goru Marka corrugated iron sheet[28]

References

  1. ↑ "Big business groups not tempted by stockmarket". The Daily Star. 2017-03-12. Retrieved 2021-05-11.
  2. ↑ "Big players buy cargo ships". The Daily Star. 2010-12-09. Retrieved 2021-05-11.
  3. 1 2 "Board of Directors". Abul Khair Group. Retrieved 11 May 2021.
  4. ↑ "Founder". Abul Khair Group. Retrieved 11 May 2021.
  5. ↑ "Tobacco lure". The Daily Star. 2009-04-12. Retrieved 2021-05-12.
  6. ↑ "Business firm, sweet shop fined". The Daily Star. 2010-02-02. Retrieved 2021-05-12.
  7. ↑ "7 missing as 2 vessels sink in Bay". The Daily Star. 2011-02-16. Retrieved 2021-05-12.
  8. ↑ "7 sailors missing in mishap". bdnews24.com. Retrieved 2021-05-12.
  9. 1 2 3 4 "Drama over jetty demolition". The Daily Star. 2012-05-17. Retrieved 2021-05-12.
  10. ↑ "Industrial group fined". The Daily Star. 2012-07-03. Retrieved 2021-05-12.
  11. ↑ "Chinese construction worker dies in accident in Ctg". The Daily Star. 2013-08-20. Retrieved 2021-05-12.
  12. 1 2 "18 firms seek $184m in foreign loans". The Daily Star. 2014-07-15. Retrieved 2021-05-12.
  13. ↑ "Industrial Belt in Ctg's Sitakunda: Factories hit by water crisis". The Daily Star. 2019-07-19. Retrieved 2021-05-12.
  14. ↑ "ACC quizzes three Abul Khair Group directors on bank loan embezzlement charges". bdnews24.com. Retrieved 2021-05-12.
  15. ↑ "29 brands, apparel win Superbrands' recognition". The Daily Star. 2018-09-02. Retrieved 2021-05-11.
  16. ↑ "Local cement makers edge out global giants". The Daily Star. 2019-02-21. Retrieved 2021-05-11.
  17. ↑ "Shah Cement's vertical roller mill world's largest". The Daily Star. 2019-12-04. Retrieved 2021-05-12.
  18. ↑ "Power plant flouts DoE limits". The Daily Star. 2019-12-31. Retrieved 2021-05-12.
  19. ↑ "Lighter vessel capsizes in Karnaphuli". The Daily Star. 2020-07-08. Retrieved 2021-05-12.
  20. ↑ "Nat'l School Chess revived after 7 years". The Daily Star. 2020-02-21. Retrieved 2021-05-12.
  21. 1 2 3 "Lighter vessel partially capsizes at Bay". The Daily Star. 2020-09-21. Retrieved 2021-05-11.
  22. ↑ "Lighter vessel laden with clinker capsizes in Bay of Bengal". Dhaka Tribune. 2020-09-21. Retrieved 2021-05-12.
  23. ↑ "Abul Khair Milk Products chair, CEO acquitted". New Age. Retrieved 2021-05-12.
  24. ↑ "Safe food remains a far cry in Bangladesh". New Age. Retrieved 2021-05-12.
  25. 1 2 "An invaluable service". The Daily Star. 2020-06-13. Retrieved 2021-05-12.
  26. ↑ "Corona treatment starts in four new Cumilla hospitals". The Financial Express. Dhaka. Retrieved 2021-05-12.
  27. ↑ https://www.dhakatribune.com/business/2021/11/22/27-companies-fined-for-vat-evasion-other-irregularities
  28. 1 2 3 4 5 6 7 8 9 10 "All Brands". Abul Khair Group. Retrieved 2021-05-11.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.