Eight entities win 1st HSBC business excellence awards

Business Desk | Published: 22:03, Jan 19,2020

 
 

Commerce minister Tipu Munshi poses for a photograph along with representatives of the eight winning business entities awarded at the 1st HSBC business excellence awards at an event held in Dhaka on Saturday.  British high commissioner to Bangladesh Robert Chatterton Dickson, Bangladesh Bank governor Fazle Kabir and HSBC Bangladesh chief executive officer Francois de Maricourt and deputy CEO and wholesale banking country head Md Mahbub ur Rahman were also present. — New Age photo

The Hongkong and Shanghai Banking Corporation in Bangladesh has recognised the contributions of eight business entities to the country’s economic growth by awarding them the 1st HSBC business excellence awards, said a press release.

The winners were presented with the crests for their leadership in promoting the country and contributing to the sustainable growth of the national economy at an event held in Dhaka on Saturday, it said.

The HSBC business excellence awards were launched in association with the Bangladesh commerce ministry and UK’s Department for International Trade (DIT).

The eight winners of the awards are Square Group, DBL Group, Janata Sadat Group, Walton Group, Amigo Bangladesh Ltd, Max Group, Meghna Group of Industries and BRAC.

Square Group won the award for Square textile division in the export excellence in readymade garments (RMG) sector category for an annual export turnover of $50 million and above. With a workforce of around 25,000, Square textile division is producing best quality yarns, denim fabrics, woven fabrics, knit fabrics and readymade knit-woven-denim garments for leading brands in the world.

DBL Group received the award in the export excellence in supply chain and backward linkage category with an annual export turnover of $10 million and above. DBL Group is a diversified conglomerate which has vertically integrated apparel and textile manufacturing facilities, with concerns in ceramics tiles, semiconductor design (VLSI), pharmaceuticals, sewing thread, dyed fibre and Yarn, ICT and telecommunications, among others.

Janata Sadat Group was awarded in the export excellence in non-traditional and emerging sectors category for its annual export turnover (non-RMG and non-textiles) of $3 million and above. The group comprises Janata Jute Mills Ltd and Sadat Jute Mills Ltd, which combined is the largest manufacturer and exporter of jute products in the private sector in Bangladesh.

Walton Group received the award in the best in import substitution category for reducing or substituting imports to a value of $10 million and above. Walton Group is the largest electrical, electronics and automobile brand of the country that has been operating since 1977.

Amigo Bangladesh Ltd was given the award in the leader in inbound investment category for contributions to foreign investment in the form of capital and technology solutions. Amigo Bangladesh Ltd (ABL) is the latest venture of Crystal International Group (HK), which is one of the leaders in manufacturing lifestyle wears, denims, intimates, sweaters, sportswear and outdoor apparels, exporting over $2 billion worth of garments globally to reputed retailers.

Max Group won the award in the infrastructure excellence category as the organisation with the most impactful contribution to an infrastructure development project in Bangladesh, improving living standards and unlocking GDP growth. Max Group, founded in 1983, is involved in railway construction including manufacturing of track fittings, infrastructure development, power generation and developing infrastructure in the power sector and manufacturing and trading of consumer products.

Meghna Group of Industries won the award in the special achievement category as the individual(s) or organisation for contributions to the country’s socioeconomic growth, innovation, job creation and supporting local communities. Meghna Group of Industries (MGI) is one of the largest food commodity businesses in Bangladesh with a comprehensive product portfolio that includes edible oils, sugar, processed food, tea, cement, chemicals, milk powder, mineral water, salt, fibre, pulp and paper, steel, packaging, poultry and fish feed, power, aviation, shipping and logistics, media, banking, insurance, and securities.

BRAC received the special recognition award. BRAC has been ranked the number one nongovernment organisation in the world for the last three years in a row by NGO Adviser, a Geneva-based independent media organisation.

Commerce minister Tipu Munshi was the chief guest at the event and handed over the awards to representatives of the winning entities.

British high commissioner to Bangladesh Robert Chatterton Dickson and Bangladesh Bank governor Fazle Kabir attended as the special guests.

HSBC Bangladesh chief executive officer Francois de Maricourt said, ‘Our aim is to support and enable businesses to connect with global opportunities, something HSBC has been doing for more than 150 years around the world.’

‘Businesses and entrepreneurs in Bangladesh have been fuelling the dynamic economic growth of Bangladesh and we are proud to recognise and encourage them for their perseverance and hard work,’ he added.

Speaking at the ceremony, HSBC Bangladesh deputy CEO and wholesale banking country head Md Mahbub ur Rahman said, ‘We would like to thank businesses and entrepreneurs in Bangladesh for their relentless efforts to make Bangladesh’s mark in the global arena. Their contributions to growing the country’s trade, developing its infrastructure and fulfilling its domestic demand make Bangladesh’s growth outlook even brighter.’

According to HSBC Global Research report titled ‘The World in 2030’, Bangladesh will be the biggest mover in global GDP rankings, by rising from the 42nd to the 26th position by 2030.

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