Abul Khair Group
Native name | আবুল খায়ের গ্রুপ |
|---|---|
| Company type | Private |
| Industry | Steel Powdered milk Sanitary Cement Tea Iron Sheet Marble and Granite Candy |
| Founded | 1953 |
| Founder | Abul Khair |
| Headquarters | D.T. Road, Pahartali, , |
Area served | Bangladesh |
Key people |
|
| Revenue |  US$8.7 billion |
Number of employees | 45,000 |
| Website | www |
Abul Khair Group (Bengali: আবুল খায়ের গ্রুপ) is a Bangladeshi diversified privately owned conglomerate based in Chittagong.[1][2] Founded in 1953 as a handmade cigarette company, the business has since expanded into the food and construction sectors.
History
[edit]In 1946, Abul Khair, founder of the Abul Khair Group in his teens arrived in Chattogram from Noakhali. He began working at a grocery store in Pahartali area and eventually opened his own shop. With the profits, he started a beedi, a hand rolled cigarette factory with just two employees. The business gradually expanded to Feni, Noakhali, and Cumilla. Over time, he also established a brick kiln and a lungi factory, invested in a cinema hall, and started an import business, acquiring land for future factories. Khair passed away in February 1978.[1]
At present, Abul Khair Group has an industrial hub in Sitakunda Upazila in Chittagong District.[3][2] They sought permission from the Board of Investment to secure a loan from a foreign bank to expand their re-rolling plant in Sitakunda in July 2015.[4]
In January 2018, the Anti-Corruption Commission interrogated three directors of the group on allegations of loan embezzlement and tax dodging.[5] Abul Khair Steel was recognized as a Superbrand in September 2018.[6]
Abul Khair Group owned Shah Cement had the largest market share in Bangladesh in 2019.[7] 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.[8]
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.[9] Hospitals receiving oxygen included Chattogram Field Hospital, Chittagong General Hospital, and Bangladesh Institute of Tropical and Infectious Diseases.[9] 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.[10]
Management
[edit]Abul Kashem is the chairperson and Abul Hashem is the managing director of Abul Khair Group.[11] Abu Syed Chowdhury is the deputy managing director and Shah Shafiqul Islam is the group director. All four are sons of Abul Khair.[11]
Controversies
[edit]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).[12] In 2009, the Abul Khair Tobacco Company Limited, along with other tobacco companies, was criticized by local media for violating the Narcotics Control Act of 2005 by offering free gifts with their cigarettes.[13] The Department of Environment found that Abul Khair Steel and Power Limited in Madambibir Hat, Sitakunda Upazila, violated environmental laws by illegally producing 75 megawatts instead of the permitted 25 megawatts and operating without a functional air treatment system.[14]
Businesses
[edit]- Abul Khair Steel-Cow Brand
- Shah Cement[15]
- Ready Mix Concrete[15]
- Marks Full Cream Milk Powder[15]
- AMA Full Cream Milk Powder[15]
- Seylon Tea[15]
- Artistry Marble & Granite[15]
- Coffee Bite[15]
- Cereal[15]
- Stella Luxury Sanitary Ware[15]
- Goru Marka corrugated iron sheet[15]
- Presidency University[citation needed]
- North South University[citation needed]
References
[edit]- ^ a b "Big business groups not tempted by stockmarket". The Daily Star. 2017-03-12. Retrieved 2021-05-11.
- ^ a b "Big players buy cargo ships". The Daily Star. 2010-12-09. Retrieved 2021-05-11.
- ^ "18 firms seek $184m in foreign loans". The Daily Star. 2014-07-15. Retrieved 2021-05-12.
- ^ "18 firms seek $184m in foreign loans". The Daily Star. 2014-07-15. Retrieved 2021-05-12.
- ^ "ACC quizzes three Abul Khair Group directors on bank loan embezzlement charges". bdnews24.com. 14 January 2018. Retrieved 2021-05-12.
- ^ "29 brands, apparel win Superbrands' recognition". The Daily Star. 2018-09-02. Retrieved 2021-05-11.
- ^ "Local cement makers edge out global giants". The Daily Star. 2019-02-21. Retrieved 2021-05-11.
- ^ "Shah Cement's vertical roller mill world's largest". The Daily Star. 2019-12-04. Retrieved 2021-05-12.
- ^ a b "An invaluable service". The Daily Star. 2020-06-13. Retrieved 2021-05-12.
- ^ "Corona treatment starts in four new Cumilla hospitals". The Financial Express. Dhaka. Retrieved 2021-05-12.
- ^ a b "Board of Directors". Abul Khair Group. 21 September 2020. Retrieved 11 May 2021.
- ^ Mavis, Meraj (22 November 2021). "27 companies fined for VAT evasion, other irregularities". Dhaka Tribune. Retrieved 6 September 2024.
- ^ "Tobacco lure". The Daily Star. 2009-04-12. Retrieved 2021-05-12.
- ^ Yousuf, Mostafa (2019-12-31). "Power plant flouts DoE limits". The Daily Star. Retrieved 2024-09-28.
- ^ a b c d e f g h i j "All Brands". Abul Khair Group. 15 November 2020. Retrieved 2021-05-11.