The New Nation - Internet Edition

RHD implements 90pc of Tk 100cr projects in Rangpur

The Roads and Highways Department (RHD) implemented about 90 percent works of 49 development projects at a cost of over Taka 100 crore under Rangpur RHD division during the current fiscal 2007- 2008. The unused allocated money against the incomplete portions of the development projects for the current fiscal will be sent back, executive engineer of RHD Ahmedur Rahman told a meeting held at Rangpur Circuit House here yesterday. Officials Said, the projects included construction of roads, pavements and culverts, bituminous carpeting and surfacing, RCC Box culverts, expansion and re-strengthening of the existing pavements, to-towels, repairing, surfacing and earth works of the path-holes, approach roads, drains and seal coats. The major projects were: Paglapeer-Dalia- Teesta Barrage road, Madhupur-Shyampur road, Rangpur-Gangachara road, Kadamtoli-Pirgachha road, Rangpur-Sahebganj-Mahiganj road, Hajirhat- Betgari-Langolerhat-Gangachara road, Motherganj- Pirganj- Nababganj road, Gangachara-Pirerhat-Monthonahat-Garagram- Kishoreganj road and Laldihgee-Txerhat-Taraganj- Kishoreganj road.

The Rangpur-Barobari-Kurigram road, Rangpur Cantonment Ghaghot road, Rangpur-Dhaperhat-Bogra road, Rangpur-Badarganj-Parbotipur road, Rangpur Old City roads, Rangpur-Kurigram road, Sadullapur- Pirganj- Nababganj road, Rangpur-Dhaperhat road, Rangpur-Syedpur road, Dhaka-Rangpur national highway and Rangpur-Teesta Bridge roads.

Brigade Commander of 72 Infantry Division Brigadier General GM Kamrul Islam while exchanging views with the concerned government officials at the Circuit House asked concerned authorities including the RHD executive engineer for timely completion of the works ensuring quality.

People's Leasing declares 35pc stock dividend: Paid-up capital stands Tk 600.561m, earns Tk 179.43m profit after tax in 2007

BUSINESS REPORT

The 12th Annual General Meeting (AGM) of the People's Leasing and Financial Services Limited held on June 26 at Bashundhara Convention Centre in the city. Motiur Rahman, Chairman of the company presided over the meeting. The Directors, a large number of shareholders--both sponsor and public shareholders-- attended the meeting.

The Chairman welcomed the shareholders to the AGM and placed before them the annual report of the company containing the directors' report, financial statements, business activities and ultimate financial results of the company for the financial year 2007.

The Managing Director while answering the questions from the shareholders explained that despite high inflation in the economy, adverse challenges, unsettled political conditions and tight monetary market, the company achieved the operating revenue which increased by 40.75 per cent over the previous year and net profit before tax increased by 25.18 per cent to Tk 224.6 million and earned a net profit after tax Tk 179.43 million for the year 2007.

People's Leasing is now a well capitalised company with a paid-up capital of Tk 600.561 million which is the highest amongst the financial institutions.

Considering the overall economic environment of the financial sector current strength of the company and shareholders' expectations and aspirations the company declared 35 per cent stock dividend (35 share for existing 100 shares) for the year 2007. The Chairman said that the success was possible because of the shareholders' strong support.

The Chairman also assured that the management would continue to work hard to achieve better result in 2008.

Finally the Chairman thanked the shareholders, clients, bankers, regulatory authorities, the press and media for their kind support.

He also thanked the members of the management staff for their dedicated and hard work for the encouraging results of the company.

Central Insurance approves 10pc stock dividend : Also okays 1:5 rights share at par

BUSINESS REPORT

The 20th Annual General Meeting of Central Insurance Company Ltd (CICL) held recently.

The company approved 10 per cent stock dividend and 1:5 rights share at par for its shareholders for the year 2007.

The dividend was approved at the company's 20th Annual General Meeting (AGM) held at Officers' Club in the city on June 29.

Chairman of the Board of Directors of the company Alhaj Md Nurun Newaz presided over the meeting.

A large number of shareholders and directors attended the meeting.

The meeting approved the company's account for the year 2007. The AGM was informed that the company earned gross premium income of Tk 166.13 million during the year 2007, which was 14.35 per cent higher than the previous year, profit before tax was Tk 30.31 million against Tk 27.95 million of the previous year. Gross claim settled during the year was Tk 25.24 million against Tk 4.06 million in 2006. The company's total assets at the end of the year stood at Tk 440.42 million.

Among other members of the Board of Directors, Md Golam Kibria, Md Tayabur Rahman, Mohd Masud Hossain, Alhaj Md Abdul Malcque, Alhaj Md Abu Taher Chowdhury, Mohammed Musa, Abu Mohammad, Mrs Tayeeba Alam, Mrs Hosne Ara Begum, Mrs Shahena Islam, ex-Chairmen Md Nurul Islam, Alhaj Md Shau, Alhaj Md Yousuf Chowdhury, ex-Director Showkat Alam, Adviser Azizul Haque Chowdhury, Managing Director (C.C) Md Zahid Anwar Khan, Consultant Tasiruddin Ahmed and Company Secretary Mirza Md Alauddin were present at the meeting.

Dutch-Bangla Bank Ltd stands by acid victims

Dutch-Bangla Bank Limited gave financial assistance of Tk 10,000 each to 100 acid victim helpless women. The financial assistance was given to the acid victims through a payment order at a simple ceremony held at the bank's training center at Dilkusha C/A in the city on June 30.

Md Yeasin Ali, Managing Director of the bank distributed the payment order to the beneficiaries of this benevolent gesture.

The function was largely attended by among others, the beneficiaries and their parents, physicians, Action Aid, Acid Survivor Foundation and different NGO representatives.

Md Yeasin Ali, in his address, informed that in 2001 the bank established Dutch-Bangla Bank Foundation to undertake the philanthropic activities and since then the bank has already donated over Tk 100 crore for the benefit of the society.

Referring to the activities carried out by the bank against social menaces like dowry, acid violence and environmental degradation, Yeasin Ali said that DBBL has stepped forward to stand by such victims by way of extending financial assistance for establishing small scale agro based/rural economic enterprises like setting up poultry farm, livestock, rearing, nursery, cottage industries etc. with a view to making them self-reliant, he added.

The DBBL Managing Director urged acid victims to carry out their business successfully so that they can avail bank's loan at the cheaper cost i.e. at 5 per cent interest.

Additional Managing Director of DBBL AHM Nazmul Quadir said that acid victim women come across a number of hindrances to lead a normal life. 'Hence, we can't shy away from our responsibility to extend our gesture of goodwill to them for restoration of hope and dignity in their life,' he said.

Dr Mozammel Hossain Khan, Coordinator, DBBF in his address of welcome, informed that DBBL, over and above its regular financial activities, always reaches to the destitute of the country by way of carrying out a wide range of community activities like education, health, extending financial assistance to distress and calamity affected people etc.

Dhaka International Education Fair begins in city on July 3

Staff Reporter

The four-day Dhaka International Education Fair (DIEF) 2008 begins on July 3 at Bashundhara City where different local and foreign educational institutions will take part.

More than 65 educational institutes and counselling farms will provide services to students at more than 100 stalls.

Extreme Exhibition and Event Solution Ltd (E3 Solutions) will organise the fair.

AZM Fazle Rabbi Khan, chairman and Rezaul Karim, managing director of E3 Solutions, said this at a press conference held at Dhaka Reporters' Unity auditorium yesterday.

Fazle Rabbi said representatives of different colleges and universities of the United Kingdom, United States, Malaysia, Cyprus, Thailand, India, Australia, Ireland, Poland and Singapore and host Bangladesh would be present at the fair. Students can learn many things about foreign education like admission process, tuition fees, job facilities etc visiting the fair. They can also learn about courses offered, semester's timings, application formats and relevant information of the foreign colleges and universities.

Former adviser and editor of the Daily Independent Mahbubul Alam will inaugurate the fair at 11:00 am on July 3 as the chief guest.

The fair will remain open from 10:00am to 8:00pm everyday. The entry fee has been fixed at Tk 10.

Fidelity Assets and Securities holds AGM

The 11th Annual General Meeting (AGM) of Fidelity Assets and Securities Company Limited was held at BDR Darbar Hall, Peelkhana, Dhaka on June 26.

Abdul Matlub Ahmad, Chairman of the Board of Directors of the company presided over the meeting.

A large number of shareholders of the company attended the meeting and took part in the discussion.

The Chairman welcomed the shareholders and appreciated the suggestions, sought continuous support and co-operation from the shareholders of the company. On the occasion, Mohammad NS Kabir, Managing Director and CEO of the company, Mrs Selima Ahmad, Director and Oli Kamal, Company Secretary were present.

City Bank holds workshop on Hedging Commodity Price Risk

The City Bank Ltd has recently held a workshop on 'Hedging Commodity Price Risk.' The City Bank Ltd was the first bank among all the commercials banks to hold such a workshop for all major commodity traders in Chittagong. All major corporate houses of Chittagong i.e. PHP Group, Abul Khair Group, MEB Group, BSRM, S Alam Group etc were present at the workshop. The session was conducted by Sheikh Mohammad Maroof, Head of Treasury and Market Risk of The City Bank Ltd. At the workshop the speakers briefly discussed on the commodity derivatives and various tools to hedge the commodity price risk. They also focused on the global trend of commodity price and the 2008 outlook of global commodity market. Given the recent trend in global commodity market and local inflation it is high time for our commodity traders to hedge the price risk. City Bank's Treasury Division has a full range of products which will help the business houses to hedge the commodity price risk. Yusuf Saeed, Head of Corporate and Investment Banking of City Bank, and AHM Humayun Chowdhury, Area Head (Corporate and Investment Banking) at Chittagong and other high officials of the bank were also present at the workshop.

UITS holds orientation programme

University of Information Technology and Sciences (UITS) organised an orientation programme of Summer 2008 in Emmanuelle's Banquet Hall, Gulshan, Dhaka at on June 29. Internationally renowned political scientist Professor Gowher Rizvi of Harvard University, USA delivered speech on 'Role and Significance of Higher Education in Bangladesh.'

Vice Chancellor of UITS Professor Dr MA Aziz delivered the welcome address, while Alhaj Sufi Mohamed Mizanur Rahman, founder Chairman of PHP Group and UITS, delivered the concluding speech.

Many distinguished guests including Secretary of Home Affairs, high ranking government officials, vice chancellors of different universities, educationists, industrialists, managing directors and directors of banks and insurance companies, family members of Professor Rizvi, students, officers and faculty members of the UITS attended the orientation programme.

Md Aminul Haque re-elected Chairman of Prime Finance

Md Aminul Haque has unanimously been re-elected as the Chairman of Prime Finance & Investment Limited for the fourth consecutive time in the 156th Board Meeting of the company held recently.

Haque started his career in 1964 with Industrial Development Bank of Pakistan, now called Bangladesh Shilpa Bank and subsequently joined the then East Pakistan Water and Power Development Authority as an Assistant Engineer.

He is the Chairman, Executive Committee of Prime Bank Limited and a founder Director of Greenland Engineers and Tractors Co Ltd (GETCO), and dealer of Caterpillar Inc, a world leader in manufacturing of construction equipment, diesel and gas engines and generators.

A widely traveled personality, Haque is associated with a number of business organisations engaged in banking, insurance, finance, trade, service and manufacturing activities.

Prime Finance & Investment Limited was incorporated in 1996 as a public limited company under the Companies Act, 1994 and licensed by Bangladesh Bank under the Financial Institutions Act, 1993 is a multi-product non-banking financial institution engaged in financing activities, which include leasing, term finance, SME finance, bridge finance, loan syndication etc. The company is also contributing significantly as a leading merchant bank towards development of the capital market by way of managing public issues, underwriting of shares, portfolio management, margin loan and corporate financial services including merger and amalgamation. Prime Finance owns 50 per cent of shareholdings of PFI Securities Limited engaged in brokerage business having membership in both the bourses i.e. DSE and CSE.

New DMD of EXIM Bank

Mohammed Haider Ali Miah has recently been promoted to the post of Deputy Managing Director of Export Import Bank of Bangladesh Ltd (EXIM Bank).

Prior to this promotion, he was the SEVP of the bank and performed his duty as the Head of Corporate Banking.

The management of the bank also awarded him gold medal thrice for his outstanding performance and contribution to the bank. Mohammed Haider Ali Miah joined the EXIM Bank as its Vice President in 2000.

Prior to his assignment, he was Assistant Vice President of Islami Bank Bangladesh Ltd (IBBL). He started his banking career as a Probationary Officer with IBBL in 1984.

He obtained his B.Sc. (Hons) and M.Sc. degrees from the University of Dhaka. He also obtained his MBA degree major in Marketing and Management from the London Institute of Technology and Research (LITR), London, UK. He has completed Diplomaed Associate of the Institute of Bankers' Bangladesh (DAIBB). He is doing his Ph.D on the role of marketing on financial performance in showing differences between the traditional and Islamic banking in the context of Bangladesh. He was born in 1957 of a respectable Muslim family in Manikganj district.

Dina Ahsan joins as GM of ICB

Mrs Dina Ahsan has joined as General Manager of Investment Corporation of Bangladesh (ICB) recently. Prior to her joining she was General Manager of Bangladesh Krishi Bank (BKB).

She joined as a Senior Officer in ICB on March 25, 1981 and served different positions in the same organisation up to Deputy General Manager. She has served many departments in ICB. She was the CEO of ICB Asset Management Company Ltd (a subsidiary of ICB) before her promotion to General Manager on April 14, 2008.

Mrs. Dina Ahsan received professional trainings at both home and abroad. Earlier she completed her B.Com (Hons) and M.Com degree in Accounting from Dhaka University.