The New Nation - Internet Edition

Separate industrial policy for Rajshahi urged

Our Correspondent, Rajshahi

Business leaders from different districts of Rajshahi division yesterday demanded a separate industrial policy and said the policy with proper supply of gas and electricity can encourage investment in the region. They were speaking at a seminar on 'Unlocking the Potential of Rajshahi Region and Creating better Business Environment' at a city restaurant. Board of Investment (BOI) organized the seminar. Annisul Haq, the newly elected president of Federation of Bangladesh Chambers of Commerce and Industries who attended the seminar as special guest expressed solidarity with the businessmen's demands. He said, the government should not hope investment without ensuring proper supply of gas and electricity. And a separate policy for industrial growth of the north is necessary for the region is still lagging behind of opportunities that are available in major cities, he added. "Businessmen are life of the economy and they are always helpful for governments. And so governments should never hold businessmen as a force against them. If any government thinks so, they should know that businessmen are now very powerful", he said.

StanChart recognised as Best Bank for CSR

BUSINESS REPORT

Standard Chartered Bank has received Bankers' Forum's 'Corporate Social Responsibility Award' as the 'Best Bank' for 2006 at CIRDAP auditorium in the city recently. Osman Morad, CEO of Standard Chartered Bangladesh received the award from Bangladesh Bank Governor Dr Salehuddin Ahmed at the award giving ceremony.

In his speech, Osman Morad said, 'No organisation can survive if society fails; with a presence in Bangladesh for over 100 years, Standard Chartered is committed to uphold high standards of CSR.'

In Bangladesh, Standard Chartered Bank has built an Operation Theatre and a Children's Ward at Islamia Eye Hospital; organized workshops to build mass awareness in Prevention of HIV/AIDS; contributed towards the development of Youth with projects such as Standard Chartered Young Tigers School Cricket and Standard Chartered School Chess Tournaments; formed the 'Standard Chartered-Financial Express Corporate Social Responsibility Award Trust' in 2005 to promote CSR amongst entrepreneurs and businesses.

Dr. Salehuddin Ahmed urged banks and big corporate houses to practice corporate social responsibility and help the poor for their education, health and other basic needs.

Grameenphone's subscribers now stand at 18 million: CEO

BUSINESS REPORT

The Grameenphone subscribers now stands over 18 million after increasing over 1.5 million during the last four months till April.

Anders Jensen, Chief Executive Officer (CEO) of Grameenphone revealed this while addressing a crowded press conference at Sonargaon Hotel in the city yesterday.

"During the first quarter (January to March 2008) of this year, our subscribers grew 17.8 million from 16.5 million at the end of the last year. The subscribers currently stands at over 18 million," Andres said, adding: "Our revenue increased Tk 0.6 billion from Tk 14.3 billion to 14.9 billion during the same time."

Chief Financial Officer Arif Al Islam and Public Relations Director Syed Yamin Bakth were present at the press conference.

Anders Jensen, announcing the company's first quarter results of the current year, said the Grameenphone has been showing a healthy growth both in terms of the number of subscribers and revenue.

The CEO also talked about the recent brand repositioning campaign launched by Grameenphone with the brand promise "Stay Close".

"Grameenphone is the most well-known local brand and we are reinforcing out strong local roots through this campaign," he said.

"Alone with fresh investments of Tk 5.6 billion during the first quarter, the cumulative investments now stand at Tk 117.4 billion including the largest single year capital expenditure of Tk 35.8 billion last year," Jensen said.

"This has enabled Grameenphone to build the largest network with the widest coverage around the country, bringing more than 98 per cent of the total population under its network coverage," the Grameenphone chief said, adding that 'The Grameenphone network now has more than 10600 base stations in over 6100 locations around the country.'

"Grameenphone will continue to help its valued customers to stay close to their loved ones and important things by providing the best voice and data services in a reliable and caring way."

Jensen said the total stakeholders' dividend had so far stood at Tk 9.1 billion including taxes and a declared dividend of Tk 1.5 billion in 2007, which is less than 8 per cent of the total investment.

"Grameenphone has so far contributed more than Tk 111.2 billion to the national exchequer in direct and indirect taxes up to first quarter. The total contribution was Tk 34.2 billion in 2007, up from Tk 20.5 billion during the previous year.

While explaining about the brand campaign, the Grameenphone CEO noted that the company is committed to marking its services affordable to a much larger segment of the population, both in urban and rural areas, while maintaining the premium quality which has always been its brand image.

"We are committed to provide the best network, innovative products and services useful to the customers and quality customer interactions at every touch-point," he added.

Prime Bank opens branch at Dohar

BUSINESS REPORT

The 62nd branch of Prime Bank Limited was opened at Dohar, Dhaka yesterday.

M Shahjahan Bhuiyan, Managing Director of the bank was the chief guest at the inaugural ceremony while Deputy Managing Director of the bank Syed Mahbubur Rahman presided over the function.

M Shahjahan Bhuiyan, in his speech, highlighted the location of Joypara as of strategic importance for the bank as a good number of the resident of the locality are wage-earners and contributing to the economic development of the country. About selecting Dohar for setting-up as 62nd branch, the bank considered numerous reasons, the foremost being the offer of most customer friendly products and services to the customers. He further added that Prime Bank is a leading commercial bank of the country, besides dealing in diversified products, was also fulfilling social corporate responsibilities. He referred about introduction of senior citizen scheme for the elderly people and offer of life insurance coverage in some deposit products.

Highlighting the bank's Taka drawing arrangement with numerous correspondent over the globe, he felt that such arrangement will immensely benefit the people of the locality in terms of remittance. He informed that bank set-up an exchange house in Singapore to add further in the existing arrangement for the benefit of the remitters and is now planning to open more in the middle east area.

Finally, he informed that Prime Bank with the introduction and application of IT is well-equipped to offer prompt services in all respect. Customers will not require to queue for hours as its services is online. The bank has opened 13 ATM booths so far and other online services for the customers.

Syed Mahbubur Rahman, in his welcome speech, informed that Prime Bank Limited launched a number of customer friendly products and services in view of the demand of the people. The bank's prime objective is to provide customized services to the customers through application of updated IT facilities. He hoped Prime Bank Limited would be able to cater to the needs of the people of Dohar in particular. He also elaborated some of the loans & deposit products of the bank.

Chairman of Dohar Municipality Alhaj Abdur Rahim Mia and renowned businessman of the locality Mujibur Rahaman spoke among others.

Shafiquzzaman, Head of Dohar Branch thanked the customers and patrons of the bank for their kind presence.

BTRC chairman visits Citycell

BUSINESS REPORT

The Bangladesh Telecommunication Regulatory Commission (BTRC) Chairman Major General (Retd) Manzurul Alam visited Citycell Head Office in the city on April 29 as part of his ongoing visit to different telecom companies. Citycell CEO, Michael Seymour, welcomed the BTRC Chairman and made a presentation on the company's achievements, current operational status and future plans.

The Chairman was apprised of Citycell products and services that are currently available in the market. Attention was drawn to the unique opportunities and challenges facing Citycell as the only CDMA mobile operator in the country.

BTRC Chairman provided an update on plans for the future and showed his appreciation to Citycell for bringing affordable, quality services to the people of Bangladesh.

BTRC Director General Col Md Saiful Islam, Deputy Director Md Rafiqul Islam and Media Consultant Abbas Faruque, along with high officials from Citycell were also present on the occasion.

Southeast Bank declares 15pc cash, 25pc bonus share

BUSINESS REPORT

The 13th Annual General Meeting of Southeast Bank Ltd. was held on April 28 at Bangladesh-China Friendship Conference Centre, Sher-e-Bangla Nagar in the city. A large number of sponsors and shareholders attended the meeting. Alamgir Kabir, FCA, chairman of the bank presided over the meeting.

Neaz Ahmed, managing director of the bank in his address of welcome highlighted the bank's operational performance in 2007 and outlined the future plans and programs undertaken by the bank to boost up operational efficiency and profitability of the bank. The AGM witnessed a lively discussion on the bank's operational performance, i.e. good operating profit and excellent growth in business. The bank earned operating profit of Tk 291.62 crore in 2007. As on December 31, 2007 bank's total deposits amounted to Tk 5547.40 crore, its total assets reached Tk 6437.07 crore, earning per share (EPS) was Tk 53.60 and capital and reserves of the bank soared to a record high of Tk 646.84 crore. The bank maintained a capital adequacy ratio at 13 per cent as on 31.12.2007 against requirement of 10 per cent set by Bangladesh Bank. The Credit Rating Agency of Bangladesh (CRAB) upgraded the credit rating of the bank for the long term from A2 to Al based on the financial statements of the bank for the year 2007. Banks rated in this category are considered to be strong banks .

In the 13th annual general meeting, the shareholders unanimously approved financial statements of the bank for the year 2007 and 15 per cent cash and 25 per cent stock dividend to the shareholders.

Alamgir Kabir appreciated the shareholders for their continuous support and cooperation to the growth of the bank. He assured them of implementing gradually the constructive suggestions put forward by them in the meeting to enhance bank's income, performance and image.

A good number of shareholders spoke in the meetings and highly appreciated the board of directors and the management of the bank for excellent performance, declaration of very good dividend to the shareholders and bringing out a most informative Annual Report-2007 of the bank..

DBH signs listing accord with DSE

BUSINESS REPORT

Delta Brac Housing Corporation Ltd (DBH) has formally signed a listing agreement at the board room of Dhaka Stock Exchange in the city recently.

Shaikh Mohammadullah, General Manager (Admin) and Secretary of Dhaka Stock Exchange and SH Aslam Habib, Head of Finance and Resources and Company Secretary of DBH signed the agreement on behalf of their respective organisations.

Under this agreement the securities of DBH is quoted and listed for trading and DSE shall facilitate trading platform and disseminate the necessary information of DBH far the interest of the investors.

Satipati Moitra, CFO and Acting CEO of DSE, Md Shakil Rizvi, Convener Listing Committee of DSE, Md Akter Hossain Sannamat, Managing Director of Prime Finance and Investment Ltd, Sawdesh Ranjan Saha, Managing Director of SATCOM IT Ltd, A Farjad Ahmed, Head of Credit of DBH and Jashim Uddin, Manager, Corporate Affairs and Assistant Company Secretary of DBH were present, among others.

Asif A Chowdhury receives 'Medal of Honour' award in Czech Republic

Asif A. Chowdhury, Honorary Consul for Chile in Bangladesh and Secretary General of Forum of Consuls in Bangladesh, received the Medal of Honour, the highest Federation International des Corpes et Associations Consulaires (FICAC) award, in Prague, Czech republic recently.

FICAC, the World Federation of Consuls set up the award in 2000, says a press a release.

The other recipients of this Medal are Abdullah Gul, President of Turkey, Mayor Joao Paulo of Recife-Brazil, Bruce Golding-Prime Minister of Jamaica.

Apollo Hospitals Dhaka organises healthcare awareness programme

Apollo Hospitals Dhaka has recently organised healthcare awareness programme at Delegation of the European Commission to Bangladesh for the Embassy staff and management on bird flu where knowledge and guidelines were disseminated on how to lead healthier life. Dr Azizul Hasan, Consultant and Coordinator--Internal Medicine, Apollo Hospitals Dhaka conducted the programme.

New Chairman and Vice-Chairman of JBL

Md Tazul Islam assumed the office of chairman of the Board of Directors of Jamuna Bank with effect from April 27, having unanimously been elected by the Board in its 101th meeting held on April 27.

Islam is an MBA having major in Marketing. He comes of a respectable Muslim family of Monohorganj upazila of Comilla district. He is the Managing Director of Fabian Group of Industries and a former Member of Parliament.

Kanutosh Majumder assumed the office of vice-chairman of the Board of Directors of Jamuna Bank Limited with effect from April 27 having unanimously been elected by the Board in its 101th meeting held on April 27. He comes of a respectable family of Noakhali district. He is an M.Com from Dhaka University. He is engaged in construction industry as a Director of New Generation Construction Company Limited.

Oval Communication's founding anniversary to be celebrated today

The first founding anniversary of Oval Communication Ltd is today. To make this auspicious day memorable, Oval Communication Ltd is going to arrange a day long programme in their premise. The programme will be inaugurated by the participation of the children of Kallani Disable Foundation at the morning. Afterwards, different activities will be executed throughout the day. At the end a cultural program will be initiated at the evening. We hope and pray for every success of Oval Communication Ltd. for their future endeavor.