BEXIMCO

Bangladesh Export Import Company Limited (Bangla Transliteration: বাংলাদেশ এক্সপোর্ট ইমপোর্ট কোম্পানি লিমিটেড, romanised: Bānglādēsh ēkspōrṭ impōrṭ kōmpāni limiṭēḍ), 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]

Bangladesh Export Import Company Limited
TypePublic
DSE: BEXIMCO
CSE: BEXIMCO
IndustryConglomerate
Founded1972 (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

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

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.[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, but was rebooted as Akash in 2019.[15] As of 2022, Akash had 700,000 subscribers and growing.[16]

Its vice chairman Salman F Rahman is 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.[5]

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 since 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.[20]

Key officials
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
  • 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
  • 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

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

Subsidiaries

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

Akash DTH
See also: Akash DTH
Akash DTH
TypeSubsidiary
IndustrySatellite television
PredecessorRealVU
Founded2016 (2016) (Original RealVU)
May 19, 2019 (2019-05-19) (Akash DTH)
Headquarters
Dhaka
,
Bangladesh
Area served
Bangladesh
ProductsDirect broadcast satellite
OwnerBEXIMCO
ParentBeximco Communications Limited
Websiteakashdth.com

Akash DTH, formally incorporated as RealVU DTH, is the sole direct broadcast satellite television provider to households in Bangladesh, operated by Beximco Communications Limited, and owned by parent company BEXIMCO. It broadcasts multichannel TV services via satellite Bangabandhu-1. It also offers Personal Video Recording (PVR) capabilities, and HD support.[26][27]

History

In 2014, Bangladesh government gave license to operate digital service to RealVu(Now Akash DTH) and Bengal Digital.[28]

RealVU DTH began broadcasting in 2016 on ABS-2 at 75 degrees east as a joint venture with GS group.[29][30][31][32] The owner of the provider is BEXIMCO via Beximco Communications Limited.[33][34] The early years of the company were unstable due to technical and financial difficulties. RealVU DTH failed to capture the market, and postponed it services within a years.

In 2017, GS group sold their share in Beximco Communications(holding company of RealVu and now Akash) but continued providing hardware and software for the service.[35]

In 2019, they came back with a rebranded name Akash DTH.[36]

From 2019, Akash DTH has been providing television services to customers using Bangladeshi satellite Bangabandhu-1.[37] The company broadcasts more than 120 television stations from around the world, along with exclusive Bangladeshi channels. In 2021, Akash DTH started offering its customers the first PVR in Bangladesh.[38]

Financial situation

The company got a fee waiver of ৳111.56M due to losses from May 2019 to 2020 on grounds of financial losses despite having a monopoly in the DTH market in Bangladesh.[39] But a spectrum charge waiver over the next five years was denied.

Marketing

Customers of analog cable system were switching to digital cable system such as Bengal Digital, Jadoo Digital and DTH system such as Akash DTH for its superior picture quality.[40] While the market penetration remained low, the market share of Akash DTH was growing. Akash DTH used multiple types of marketing such as TV marketing, guerilla marketing, word of mouth and viral marketing.[41]

See also

References
  1. 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. 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. www.beximco.com. "BEXIMCO - Taking Bangladesh to the World". beximco.com. Retrieved 28 May 2023.
  5. "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. Hossain, Ismail (17 October 2021). "Akash DTH to get spectrum charge waiver of Tk 111.56m". The Financial Express. Dhaka.
  17. "Robi, Meghna Petroleum, Beximco donate Tk6.93cr to Labour Welfare Fund". The Business Standard. 26 October 2021. Retrieved 6 December 2021.
  18. "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. "PM opens 200MW solar power plant". The Business Standard. 2 August 2023. Retrieved 21 August 2023.
  21. "Home". BEXIMCO.
  22. "About Us". Beximco Computers.
  23. "About Beximco Engineering Ltd". Beximco Engineering.
  24. "About Us". Giga Tech Ltd.
  25. "About us". Yellow.
  26. "Beximco launches DTH service Akash". The Daily Star. Retrieved 17 May 2019.
  27. "Akash expands television network to former enclaves". The Business Standard. 21 March 2021. Retrieved 16 March 2022.
  28. Rahman, Harisur (2020), Rahman, Harisur (ed.), "The Political Economy, Materiality and the Visceral Experience of Cable Television", Consuming Cultural Hegemony: Bollywood in Bangladesh, Cham: Springer International Publishing, pp. 79–103, doi:10.1007/978-3-030-31707-2_4, ISBN 978-3-030-31707-2, S2CID 213544139, retrieved 11 February 2022
  29. "Bangladesh's First DTH Operator Shares Plans for Market". Via Satellite. Retrieved 8 June 2016.
  30. "GS Group launches Bangladesh's first DTH service". Digital TV Europe. 6 May 2016. Retrieved 17 March 2022.
  31. david.nunes (5 May 2016). "GS Group launched the first DTH service in Bangladesh". Connect-World. Retrieved 17 March 2022.
  32. "Bilateral Relations - Embassy of the Russian Federation in the People's Republic of Bangladesh". bangladesh.mid.ru. Retrieved 11 February 2022.
  33. "GS Group launches first DTH service in Bangladesh". BroadbandTV News. Retrieved 6 May 2016.
  34. "BEXIMCO - Taking Bangladesh to the World". beximco.com. Retrieved 17 March 2022.
  35. "GS Group completes project to create Bangladesh's first satellite pay-TV operator | Satellite | News | Rapid TV News". www.rapidtvnews.com. Retrieved 17 March 2022.
  36. "Beximco Communications Launches Akash DTH". United News of Bangladesh. Retrieved 16 May 2019.
  37. ডটকম, নিজস্ব প্রতিবেদক বিডিনিউজ টোয়েন্টিফোর. "বেক্সিমকোর ডিটিএইচ সেবায় বঙ্গবন্ধু স্যাটেলাইটের বাণিজ্যিক যাত্রা শুরু". Bdnews24.com (in Bengali). Retrieved 11 February 2022.
  38. "AKASH DTH introduces basic connection package". New Age. Retrieved 23 October 2020.
  39. Hossain, Ismail. "Akash DTH to get spectrum charge waiver of Tk 111.56m". The Financial Express. Retrieved 11 February 2022.
  40. Khan, Israt Moriom; Quadir, Sabrina; Islam, Sanjida (19 November 2021). "Anticipation & Advancement of DTH Service in Bangladesh". European Journal of Business and Management Research. 6 (6): 53–58. doi:10.24018/ejbmr.2021.6.6.1150. ISSN 2507-1076. S2CID 244483396.
  41. Banu, Saira; Tasnim, Jarin (1 June 2020). "Entrepreneurial Marketing in Direct to Home (DTH) Service: The Case of AKASH in Bangladesh". Jahangirnagar University Journal of Management Research. 3: 61–73.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.