Sikder Group

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Sikder Group is a family-owned Bangladeshi business conglomerate. Zainul Haque Sikder founded the group in the early 1950s, and was its chairman at his death in 2021. [1] His sons, Rick Haque Sikder and Ron Haque Sikder, are directors of the Sikder Group. [2]

Contents

Sikder Group
Company type Private
Founded1950 (1950)
Founder Zainul Haque Sikder
Headquarters
Dhaka
,
Bangladesh
OwnerRick Haque Sikder

History

Sikder Group started as a textile and garment manufacturing company. [3]

PowerPac Holdings, a sister concern of the Sikder group, got a contract to build a power plant from Power Development Board in August 2011. [4]

Its subsidiary PowerPac Ports Limited was given the government contract to operate two jetties in the Port of Mongla in 2016. [5] The same year PowerPac got approval from Bangladesh Economic Zones Authority to operate Mongla Economic Zone in Bagerhat. [6]

Subsidiaries

Financial situation

At the end of 2016, the company's liabilities included about 2,000 crore Bangladeshi taka ($253M as of 2016) spread among three banks. [14]

In late 2024, reports indicated that First Security Islami Bank had exposure to Sikder Group worth over Tk 2,254 crore, with a significant portion of the loan not classified properly. [15]

On 28 September 2025, a court in Dhaka has ordered the freezing of investments totaling 353 million Thai baht (approximately Tk 133 crore) made in seven Thai companies by the three children of former National Bank Chairman Zainul Haque Sikder. [16]

Controversies

Sikder Group has also attracted attention from various law enforcement agencies around the world for having ties to criminal activities such as money laundering. [17]

In 2010, the US State of California sued the Group's carwash business for $6.6 million for allegedly exploiting workers. [18]

On 19 May 2020, Exim Bank (Bangladesh) filed a case against the Group at Gulshan Police Station for allegedly shooting at and abducting the managing director and associate managing director of the bank. [19] Following this filing, the main accused in the case, Ron Haque Sikder and Dipu Haque Sikder, fled the country in an air ambulance disguised as patients. [20] Later, the duo, Ron Sikder and Dipu Sikder, were acquitted in a court verdict. [21] Dhaka Metropolitan Magistrate Rajesh Chowdhury passed the order after the complainant in the case, Exim Bank Director Lt Col (retd) Serajul Islam, told the court that he had no objection to the court accepting a police final report. [21]

See also

References

  1. 1 2 "Industrialist Zainul Haque Sikder dies". New Age. 10 February 2021. Archived from the original on 10 May 2021. Retrieved 28 March 2021.
  2. ↑ "Zaki wins Sikder Group Independence Day Cup Golf Tournament". The New Nation. UNB. 26 March 2017. Archived from the original on 28 March 2021.
  3. 1 2 3 4 5 6 7 8 9 "About Us". sikdergroup.com. Sikder Group of Companies Ltd. Archived from the original on 30 December 2017. Retrieved 17 December 2017.
  4. ↑ "PDB signs deals for three power plants". The Daily Star. 26 August 2011. Archived from the original on 16 December 2017. Retrieved 17 December 2017.
  5. 1 2 "Sikder Group to partner govt in bringing Mongla Port up to speed". Prothom Alo. Archived from the original on 22 August 2016. Retrieved 17 December 2017.
  6. ↑ "PowerPac to get licence for Mongla Economic Zone". The Daily Star. 24 February 2016. Archived from the original on 3 December 2017. Retrieved 17 December 2017.
  7. 1 2 3 4 Muntasir, Belal (14 October 2019). "5 firms of Sikder Group get land in Mongla Economic Zone". Dhaka Tribune. Archived from the original on 21 May 2021. Retrieved 28 March 2021.
  8. ↑ "Marriott hotel construction in Bandarban against laws". The Daily Star. 17 November 2020. Archived from the original on 6 May 2021. Retrieved 28 March 2021.
  9. ↑ "UN experts call for halt to contentious tourism resort in Bangladesh". Office of the High Commissioner for Human Rights. United Nations. 9 February 2021.
  10. ↑ Abdullah, Mamun (29 May 2020). "The dramatic escape by Sikder brothers". Dhaka Tribune. Archived from the original on 21 May 2021. Retrieved 27 February 2021.
  11. ↑ "Females' dorm remains unused for lack of gas, water". The Daily Star. 24 July 2010. Archived from the original on 19 December 2018. Retrieved 17 December 2017.
  12. ↑ Sun, Daily (2024-12-25). "Sikder Group trying to transfer immovable assets from abroad: ACC". daily-sun. Retrieved 2025-10-30.
  13. ↑ "Construction afoot of Bangabandhu Tri-Tower at Purbachal". The Financial Express. Archived from the original on 2021-10-09. Retrieved 2025-10-30.
  14. ↑ Rahman, Sajjadur (2016-12-23). "Bank directors are good borrowers". The Daily Star. Retrieved 2020-06-29.
  15. ↑ Hasan, Md Mehedi (2024-12-20). "First Security Islami Bank: Almost 90pc of Tk 2,254cr loan to Sikder Group sours". The Daily Star. Archived from the original on 2025-05-05. Retrieved 2025-10-29.
  16. ↑ "Seize Sikder family's Tk 133 crore in Thailand". The Daily Star. 2025-09-30. Archived from the original on 2025-09-29. Retrieved 2025-10-29.
  17. ↑ "Sikder family amasses wealth in Las Vegas, other big cities of the world". Prothom Alo. 9 June 2020. Archived from the original on 23 February 2021. Retrieved 29 March 2021.
  18. ↑ "Carwash owners sued by state for $6.6 million for allegedly exploiting workers". Los Angeles Times. 4 October 2010. Archived from the original on 23 March 2015.
  19. ↑ "'I will shoot and cripple you for life' - Sikder Group MD threatens Exim Bank MD". Prothom Alo. 27 May 2020. Archived from the original on 21 May 2021. Retrieved 30 March 2021.
  20. ↑ "Sikder brothers escape to Thailand by air ambulance from legal charges at home". bdnews24.com. 29 May 2020. Archived from the original on 21 May 2021. Retrieved 29 March 2021.
  21. 1 2 "Sikder Group welcomes court verdict that acquits Ron Sikder and Dipu Sikder". The Independent. Dhaka. 17 August 2021. Archived from the original on 25 January 2023. Retrieved 30 October 2025.
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