The New Nation - Internet Edition

Ananda Shipyard to handover first ship to Danish co today

Ananda Shipyard and Slipways Ltd, the country's first ship building and exporting company, is going to handover its first cargo ship, 'Stella Maris' to the concerned shipping company of Denmark this morning. 'For the first time Bangladesh is going to be known as a ship exporting country in the world through the export of this ship. A golden-age of good fortune and economic prosperity is going to be unveiled with this first ever export of ship to a European country," she said. Commerce and Education Adviser Dr Hossain Zillur Rahman will formally hand over the ship as the chief guest to the representative of Stella Shipping P/S of Denmark at a function at Ananda Shipyard and Slipways Ltd complex premises at Meghnaghat under Sonargaon upazila in Narayanganj at 11:00am. Dr Abdullahel Bari, Chairman, Ananda Group, who is also a naval architect by profession, and Mrs Afruja Bari, Managing Director of Ananda Shipping and Slipways Ltd will remain present.

Besides, Alauddin A Majid, Director (Finance), Mrs Fahmida Bulbul Kakoli, Director (Establishment), Md Rakibur Rahman Chowdhury, Director (Admn), Saiful Islam, Director (Technical) and A Ahsan Kabir, General Manager Group will be present.

Grameen, Saudi German Hospital Group to build hospital for poor

BUSINESS REPORT

Grameen Healthcare Trust and the Saudi German Hospital Group of Saudi Arabia on Tuesday signed a cooperation agreement for the establishment of a trust to build social business hospitals in Bangladesh, which will bring health services to the poor and disadvantaged people of Bangladesh.

Dr Ahmed Mohamed Ali, President of Islamic Development Bank was the chief guest at the signing ceremony.

Several international figures participated at the signature ceremony that took place at Grameen Bank headquarters in Dhaka, including the Saudi Charge d'Affaires in Bangladesh, representatives of General Electric Healthcare-USA, and several others.

Nobel Laureate Professor Muhammad Yunus and Engr Sobhi Batterjee, President of the Saudi German Hospital Group (SGHG), a leading provider of medical services in the Middle East, met in Dubai January 2008 and decided to embark on a collaboration of setting up social business hospitals in Bangladesh and beyond.

The Trust will be dedicated to the social goal of providing primary and secondary healthcare to the people it will serve, particularly to the poorest and most disadvantaged people. Its activities will encompass the setting up of companies to establish hospitals, health clinics, and other health-related services. The first hospital to be established by the trust, named 'AI Sabeel-Grameen Hospital', will be a 50 bed hospital. On the basis of the demonstrated success of the first hospital, there will be more hospitals built around Bangladesh under this partnership.

A social business is a business that operates on the principle of "non-loss and non-dividend." It will be free to make profit, but that profit cannot be transferred to any shareholder, except to pay back amounts invested by such shareholder in the business. All other profits of the business is invested back to expand or improve the company's capacity to achieve the social goal for which it is established.

Professor Yunus said,"We are very happy to collaborate with the Saudi German Hospital Group on social business hospitals in Bangladesh. After establishment of our first 50-bed hospital, we hope to create several such hospitals for the benefit of the poor and disadvantaged. We look forward to our partnership with the Saudi German Hospital Group."

Engr Sobhi Batterjee, President of the Saudi German Hospital Group said, "Saudi German Hospital Group will bring expertise in building and running hospitals. Grameen will bring its expertise in reaching the grassroots population with services. We are looking forward to this collaboration."

President of Islamic Development Bank, Dr Ahmad Mohamad Ali Al-Madani said: "The IDB will be an active partner in ensuring the success of this partnership".

Professor Yunus mentioned that the hospital would be built on 10 acres of donated land. He invited people willing to donate land close to Dhaka City to contact him. He said that the hospital will be expanded in the future.

Engr Batterjee added, "by having Grameen Bank on board we have completed the set of partnership we have been working on for the last two years. Today, we have The Consolidated Contractors Company (CCC) who will donate for the hospital, plus participating in the construction work if needed. We have GE Healthcare donating the diagnostic equipments for free. We have Islamic Development Bank, and International Finance Corporation of the World Bank ready to provide us with the rest of investments needed".

Grameen Mutual to float Tk 125cr second scheme

BUSINESS REPORT

The Securities and Exchange Commission (SEC) on Tuesday gave consent to the public float of 'Grameen One: Scheme Two', the second scheme of 'Grameen Mutual Fund One' sponsored by Grameen Bank under the management of AIMS of Bangladesh Limited.

The application for the purpose was made by AIMS way back in January 16, 2008 but initially the SEC apparently had some reservations on some unique propositions that the scheme devised. However, eventually the constituents could prevail with strong legal arguments in favour of the mechanism.

Having a paid-up capital of Tk1.25 billion (Tk125 crore) the Scheme is by far the single largest listed mutual fund undertaking ever in the country. It is also for the first time a 'growth' scheme is being launched in the local capital market. With a 15-year initial tenure it has the longest life and it is also for the first time that any mutual fund in Bangladesh is venturing to float multiple schemes.

In an unforeseen pioneering move to benefit thousands of general investors, provision was kept for Entitlement to 17 million units of Tk 10 each at par totalling Tk170 million in 'Grameen One : Scheme Two' for the existing unit holders appearing on the register of 'Grameen One', the first scheme of the Fund now traded on the stock exchanges. Record date for the purpose was set for March 25, 2008 after the regulator declined on March 18, 2008 to consider the application without submission of bank certificate evidencing prior receipt of such deposit against the proposed Entitlement. Subsequently, 98 percent of the Entitlement was subscribed and evidence of deposit submitted by AIMS to the SEC on April 17, 2008.

Grameen Bank has already subscribed for Tk250 million as Sponsor's contribution in the new Scheme and pre-IPO allocation has been made in favour of various associate institutions and enterprises of the Grameen Bank family and capital market functionaries for Tk680 million while existing unit holders have subscribed for Tk166.59 million. The prospectus for public offer of 15.341 million units of Tk10 each totalling Tk153.41 million has now received the SEC nod. The public subscription may commence in early June to be collected at selected branches of AB Bank Limited, The City Bank Limited, Mutual Trust Bank Limited and the Investment Corporation of Bangladesh (ICB).

No paper certificate or allotment letter will be issued by the Fund. Instead the units will be credited directly to the successful BO accounts within 72 hours of the conduct of allotment lottery.

The Scheme also intends to commence trading on the bourses within 10 (ten) working days from conduct of lottery for allotment against the public subscription. Refunds against unsuccessful applications would be directly credited to the respective bank accounts of the applicants within 30 working days from closing of the subscription list.

Citycell One Utshob begins throughout country

BUSINESS REPORT

Citycell has recently launched One Utshob for its valued customers. This Utshob offers Citycell customers attractive gift items for the purchase of Citycell One packages from any Citycell Customer Care Centre, located in Dhaka, Chittagong, Sylhet, Rajshahi, Barisal and Khulna. Zoom enabled handsets are also available with pre-paid packages at attractive prices. Citycell customers are now enjoying the most attractive call rate in the market: Tk 0.25/min to any Citycell number all day all night.

Kym Goldsworthy, Head of Operations Support of Citycell inaugurated One Utshob at Citycell Head Office located at Pacific Centre, Mohakhali, Dhaka.

Saiful Amin, Deputy General Manager, Front Office Operations and Naimul Haque, Manager, Product Marketing of Citycell were also present along with other officials of the company at this inaugural ceremony.

Unilever Bangladesh recognises top distributors

Unilever Bangladesh Limited (UBL), in a recent ceremony, recognises distributors who have achieved exceptional growth in 2007.

A total of 94 distributors were rewarded with tickets to trips both within the country as well as overseas in recognition of their excellent performance over the year 2007. Performance of these distributors has been key to the business and, hence, the award is a recognition of their hard work and dedication towards UBL.

Rakesh Mohan, Chairman & Managing Director of UBL was present at the occasion and handed over the tickets to the winners. He congratulated the distributors on their commendable work and urged them to continue the growth momentum. Also present at the occasion was Mizanur Rashid, Customer Development Director.

The Distributors' Flying Club is a new addition to a number of activities that the company is already carrying out for its distributors. As part of this programme, distributors were allocated mileage based on the sales growth that they delivered. They were then awarded tickets to destinations that were covered by the mileage that they had collected.

Unilever Bangladesh has been a pioneer in partnering and supporting the distributors so that they reach optimal performance and get the best return on their investment.

Janata Bank holds Task Force meeting

SM Aminur Rahman CEO and MD of Janata Bank Limited presided a Task Force meeting at Head office, Dhaka on May 8. The CEO instructed all for effective monitoring, follow-up and close supervision for recovery of non-performing assets of the bank. He also advised all for regularising overdue, classified loans and pending suits also.

DMD Md. Mizanur Rahman, General Managers and other executives were present on the occasion.

SIBL holds training on Remittance Processing

BUSINESS REPORT

A workshop on 'Remittance Processing and Payment' organised by training institute of Social Investment Bank Ltd was held yesterday at the bank's Head Office.

Twenty-four officers from different branches and Head Office attended the workshop.

SIBL Chairman Abdul Awal Patwary inaugurated the workshop as the chief guest. Managing Director KM Ashaduzzaman and Deputy Managing Director Abu Sadek Md Sohel were present as special guests in the opening ceremony of the workshop.

Abdul Awal Patwary said that SIBL has laid emphasis on foreign remittance and has taken measures to reach the hard-earned foreign remittance to the beneficiaries in the quickest possible time.

KM Ashaduzzaman informed that SIBL has taken up epoch-making steps to facilitate payment of foreign remittance to the beneficiaries. For that SIBL has tied up with Global remittance company, Placid NK Corporation and Bangladesh Post Office.

Abu Sadek Md Sohel asked SIBL officers to equip themselves with proper knowledge so that they can serve the customers of SIBL with utmost care. Md Akhtar Hussain, Principal of SIBL training Institute and other senior executives and officers were present at the inaugural ceremony.

Entry free on Saturday at Fantasy Kingdom

The first and only theme park of Bangladesh "Fantasy Kingdom" from now gives a special offer for school students. Every Saturday students up to class 10 will get free entry into the park, only students have to buy Tk 90 ride coupon on the entry gate. For avail this special offer student must show their school identity card. Beside this from now on Tuesday declared as 'Family Day' and on that day every family will get 50 per cent discount on entry. This special offer will be valid up to September 15.

Ghulam Mustafa, Kazi Mofizur BAIRA president, secretary

In the BAIRA election, Ghulam Mustafa was elected President, Kazi Mohammed Mofizur Rahman was elected Secretary General.

The election of the office bearers of BAIRA Executive Committee for a two-year term (2008-2010) was held on May 12 in the conference room of BAIRA. Ghulam Mustafa, Managing Director of Prantik Travels and Tourism Ltd, was elected the President of BAIRA, while Proprietor of Kazi Air International Kazi Mohammed Mofizur Rahman was elected as the Secretary General.Other elected office bearers are: Mohammed Shamsuzzaman, Proprietor of Madani Travels (Senior Vice President), Sk M Abdul Jalil (Vice President-1), Morshed Sanaullah Kayani (Vice President-2), Mohammad Nurul Amin (Joint Secretary General-1), Md Abu Zafar (Joint Secretary General-2), Shameem Ahmed Chowdhury Noman (Joint Secretary General-3), Shahadat Hossain (Treasurer), Sayed Golam Sarwar (Public Relation Secretary), Md Ruhul Amin Swapan (Cultural Secretary).

Besides, members elected to the Executive Committee are: Muhammed Mosharraf Hossain, Ex MP, Syed M. Saiful Hoque (Mintoo), Mohammed Furkan Uddin, Shah Abdul Basir, Mizanur Rahman Bhuiyan, Golam Maula, Akbar Hussain Monju, Tariqul Islam, Mohd. Mukhlesur Rahman, Md. Shamsul Hoque MS Alam, Muzammed Hoque Bhuiyan, Golam Mainuddin (Munir), Mohammad Golam Nabi, Mohammed Jalal Uddin and Dr. KM Sultanul Aziz.

It may be mentioned that long-awaited BAIRA's biennial election was held on May 10 last. Ghulam Mustafa, the panel leader and his team participated in the election under the banner 'Sammilitaya Ganatantrik Front'. The other contesting Panelled by Muhammed Mosharraf Hossain, Ex MP and his team participated under the banner 'Sammilita Sammanaya Front'. The election was held with great enthusiasm in a free, fair and peaceful atmostafare under the direction of Amritya Baro, the Chairman of the Election Board and Deputy Secretary of the Ministry of Commerce, nominated by the caretaker government. Out of 773 valid voters of BAIRA, 656 voters exercised their voting rights. In this election the 'Sammilita Sammanaya Front,' led by former MP Muhammed Mosharraf Hossain was defeated. Out of 27 posts of members only the panel leader Muhammed Mosharraf Hossain, Ex-MP was elected. On the other hand the 'Sammilita Ganatantrik Front' led by Ghulam Mustafa with a commitment of bringing in change and reforms won 26 seats with overwhelming majority votes.