Akij Group

Last updated
Akij Group
Company type Public
Industry
FoundedJanuary 1, 1940;84 years ago (1940-01-01)
Phultala, Khulna, Bangladesh
Founder Sheikh Akijuddin
Headquarters,
Bangladesh
RevenueIncrease2.svg US$1.5 billion (2017)
Number of employees
70,000
Website www.akij.net

Akij Group is one of the largest Bangladeshi industrial conglomerates. [1] The industries under this conglomerate include textiles, tobacco, food and beverage, cement, ceramics, printing and packaging, pharmaceuticals, consumer products etc. In 2009, [2] [3] Akij Group paid 390 million euros in tax, making it the biggest local tax-payer, contributing two per cent to the nation's entire budget. Akij also provides services in healthcare, information and communication technology. Its turnover in 2009 was 89 billion taka. [4] In 2018, Akij sold their tobacco division to JTI for $1.47 billion. [5] It was the biggest ever single foreign direct investment in Bangladesh. [6]

Contents

History

Akij Group was established in the 1950s by industrialist Sheikh Akijuddin as a cigarettes manufacturing business, before moving into other areas of business Like Rice, Jute, Paddy etc. [4] [7]

Sister projects

In August 2018, Japan Tobacco acquires Akij's tobacco business for US$1.5 billion. [8] [9]

Related Research Articles

<span class="mw-page-title-main">Economy of Bangladesh</span>

The economy of Bangladesh is a major developing market economy. As the second-largest economy in South Asia, Bangladesh's economy is the 35th largest in the world in nominal terms, and 25th largest by purchasing power parity. Bangladesh is seen by various financial institutions as one of the Next Eleven. It has been transitioning from being a frontier market into an emerging market. Bangladesh is a member of the South Asian Free Trade Area and the World Trade Organization. In fiscal year 2021–2022, Bangladesh registered a GDP growth rate of 7.2% after the global pandemic. Bangladesh is one of the fastest growing economies in the world.

Bangladesh Export Import Company Limited, commonly known by its trade name BEXIMCO, is a Bangladeshi multinational conglomerate holding company, headquartered in Dhaka, Bangladesh. It was founded in the early 1970s.

<span class="mw-page-title-main">Sonali Bank</span> State-owned Bangladeshi commercial banking institution

Sonali Bank PLC is the principal state-owned leading public commercial bank in Bangladesh. It is the largest bank in the country. Ziaul Hasan Siddiqui is the chairman of the Bank. Niranjan Chandra Debnath and Sanchia Binte Ali are the deputy managing directors of the bank.

Adamjee Group of Companies is a conglomerate company based primarily in Karachi, Pakistan. The group was headed by Sir Adamjee Haji Dawood.

<span class="mw-page-title-main">Islami Bank Bangladesh PLC.</span> Bank in Bangladesh

Islami Bank Bangladesh PLC. (IBBPLC.) is an Islamic banking company based in Bangladesh. It became incorporated on 13 March 1983 as a public limited company under the Companies Act 1913 and started operation on 30 March, the same year. IBBPLC maintains its own ATM Booths with a country-wide shared ATM network. IBBPLC has been the largest private banking network in Bangladesh. When IBBPLC was established, it was the first bank in Southeast Asia to provide banking service based on Shariah. The bank has been listed with both Dhaka Stock Exchange Ltd. and Chittagong Stock Exchange Ltd.

Bashundhara Group is a Bangladeshi conglomerate and one of the largest manufacturing companies in Bangladesh. It was incorporated in 1987 as a real estate company under the name East West Property Development Ltd (EWPD). After its first project turned out to be successful, the company grew quickly. It presently owns more than 50 major concerns throughout Bangladesh. The company's import-export turnover was $1.12 billion or BDT 111.38 billion in the 2022-23 fiscal year. In the 2018 fiscal year, the company's real estate holdings amounted to BDT 50,000 crores, or $4.6 billion.

<span class="mw-page-title-main">Meghna Group of Industries</span> Bangladeshi Conglomerates

Meghna Group of Industries (MGI) is one of the largest Bangladeshi industrial conglomerates. The industries under this conglomerate include chemicals, cement, consumer products, real estate, insurance, securities, utilities, etc.

<span class="mw-page-title-main">Partex Group</span>

Partex Group is one of the largest family-run conglomerates in Bangladesh, consisting of over 70 factories. The industries under this conglomerate include foods and beverages, steel, real estate, furniture, agribusiness, plastics, etc.

<span class="mw-page-title-main">Ha-meem Group</span> Bangladeshi textile and garments company

Ha-Meem Group is one of the largest Bangladeshi conglomerates in textile and garments sector. It owns 26 garments factories, sweater factory, poly bag industry, label factory, jute mill, chemical formulation plant, tea estates, transport company, Channel 24 and Samakal, a widely circulated national daily newspaper. The newspaper are under Times Media Limited of Ha-Meem Group. It employs 50 thousand people.

A K Khan & Co. Ltd. is one of the oldest Bangladeshi conglomerates headquartered in Chittagong. It was established in 1945 by Abul Kashem Khan during the Second World War.

Noman Group is one of the largest Bangladeshi conglomerates in the textiles and garments sector. Its companies export annually about $1 billion in textile and garment products around the world, and employ about 70,000 people. Noman Group produces yarns, fabrics, home textile, bed covers, curtain, comforters, quilt covers, denim and towels.

<span class="mw-page-title-main">Mutual Trust Bank Limited</span> Commercial bank in Bangladesh

Mutual Trust Bank PLC is a private commercial bank headquartered in Dhaka, Bangladesh. Md Abdul Malek, chairman of Sheltech Consultants (Pvt) Ltd, is the chairman of Mutual Trust Bank PLC.

<span class="mw-page-title-main">Latifur Rahman (businessman)</span> Bangladeshi businessman

Latifur Rahman was a Bangladeshi business magnate and media mogul. He served as the founding chairman and CEO of Transcom Group which deals with beverages, electrical and electronics products, pharmaceuticals, fast food, snacks and breakfast cereals, print media, FM radio and tea plantations mostly as the comprador of international brands like Pizza Hut, KFC, Pepsi and Philips. He was the founding director of Mediaworld and Chairman of Mediastar, which owned The Daily Star and Prothom Alo newspapers, respectively. Both are the nation's leading English and Bangla newspapers.

<span class="mw-page-title-main">PHP Family</span>

PHP Family is a Bangladeshi conglomerate based in Chittagong. It was envisioned in 1969 by Sufi Mohammed Mizanur Rahman who is the chairman of the group as of 2018. PHP Group is active in business like steel, float glass, aluminum, textiles, power, petro, refinery, financial service, agro and so on.

The jute industry is a historically and culturally important industry in Bangladesh dating back to during the growth of the East India Company in the Indian subcontinent. Despite once being one of the country's biggest industries and major export items, the jute industry has declined since the 1970s. Exports have fallen as other countries grow jute independently, decreasing the demand for jute to be exported, and other products like plastics and hemp find more widespread use.

Anwar Group of Industries is one of the largest and oldest Bangladeshi conglomerates. It consists of 18 subsidiaries that are servicing consumer goods, steels, cement, textile, finance and automotive industry. Manwar Hossain is the Chairman of Anwar Group.

<span class="mw-page-title-main">Ratanpur Group</span>

Ratanpur Group is a Bangladeshi diversified conglomerate based in Chittagong. It mostly known for its flagship company, Ratanpur Steel Re-Rolling Mills Limited (RSRM).

Sajeeb Group is a Bangladeshi diversified conglomerate based in Dhaka known for their processed foods. Md. Abul Hashem is the Chairperson of the Group.

Saudi-Bangladesh Industrial and Agricultural Investment Company Limited is an investment and finance company owned by the government of Bangladesh and the government of Saudi Arabia.

Uttara Group of Industries is a Bangladeshi diversified conglomerate based in Dhaka founded by Giridhari Lal Modi, a Marwari businessman.

References

  1. Sajjadur Rahman (2009-06-24). "Akij Group to branch out into new avenues". The Daily Star. Retrieved 2016-10-29.
  2. "Akij to invest Tk 1,500cr in three plants in its economic zone". The Daily Star. 2016-09-23. Retrieved 2016-10-29.
  3. Sajjadur Rahman (2010-12-09). "Big players buy cargo ships". The Daily Star. Retrieved 2016-10-29.
  4. 1 2 Sajjadur Rahman (2010-12-19). "Akij goes green". The Daily Star.
  5. "JTI group acquires tobacco business of Akij group in Bangladesh" (PDF). Japan Tobacco International.
  6. "Japan Tobacco closes $1.47b acquisition of Akij venture". The Daily Star. 2018-11-30. Retrieved 2020-07-01.
  7. "Akij Gr set to overtake RAK Ceramics to become country's biggest tiles maker". The Financial Express. Dhaka. 2011-12-05.
  8. "Japan Tobacco to Acquire Bangladesh Company for $1.5 Billion". Bloomberg News. Retrieved 2018-08-26.
  9. "Japan Tobacco buying Bangladesh Akij's tobacco business for $1.5..." Reuters. Retrieved 2018-08-26.
  10. "Thousand bidi workers lose job as Akij factory closes suddenly". The Daily Star. 2016-04-04. Retrieved 2016-10-29.
  11. "No fly-ash in Akij cement: Official". The Daily Star. 2013-10-10. Retrieved 2016-10-29.
  12. "Akij celebrates Independence Day". The Daily Star. 2012-05-23.
  13. Gazi Towhid Ahmed (2013-10-04). "Akij Food brings in German technology to produce juice". The Daily Star. Retrieved 2016-10-29.
  14. "AFSC". Akij Foundation School & College. Archived from the original on 2020-04-17. Retrieved 2021-04-04.
  15. "Akij secures $43m from HSBC to expand particle board business". The Daily Star. 2015-09-23. Retrieved 2016-10-29.
  16. "Akij Textile Mills Ltd".