The New Nation - Internet Edition

The 28th Annual General Meeting of Singer Bangladesh Ltd. was held on Monday at the National Shooting Complex at Gulshan, Dhaka, a company press statement said.

Mr. Gavin Walker, President and Chief Executive Officer of Singer Asia and Director, Singer Bangladesh Limited, presided over the meeting. Members present in the meeting approved 35 per cent Stock Dividend for the year 2007.

Mr. Gavin in his address mentioned that 2007 was another successful year for the company. Singer increased its business by 40 per cent and opened 20 new retail shops in different locations of the country, including a large format multi-brand shop at Bogra, which is the largest electronic and home appliance retail shop in the country.

Singer went into a partnership with the world's largest appliance and electronics brand, Samsung. Under this partnership Samsung products are now available at all Singer Plus Shops across the country. The performance of Singer cables in its second year of operations was commendable. It is expected to improve further in 2008. The Company contributed Tk. 1,080 million to the national exchequer in the form of corporate income tax, duties, Value Added Tax (VAT) and other taxes. A number of new products were introduced in 2008; among them were generators and LCD Televisions.

The AGM of the company became lively with the participation of a large number of members.

The accounts of the Company for the year ended December 31, 2007 were placed at the meeting and members made a critical review of the performance of the company.