BUSINESS REPORT
2,962 SIDR hit families rebuild livelihood with Swiss support
STAFF REPORTER
2,962 SIDR-affected families in Bangladesh are now rebuilding their livelihood and striving to stand back on their own feet with the support of the Swiss Agency for Development and Cooperation (SDC). With the 15,000 Taka cash grant received from SDC, each household has bought cows, fishing nets, boats or has invested in small businesses, agricultural farming or in other income generation activities. Disabled person Momin of Chal Rayenda village has bought a milking cow and hopes that he will be able to support his family by selling the milk.
Ripia Begum of village Jilbunia has restarted the door to door cloth selling business she had before cyclonic storm SIDR struck in November 2007.
Under SDC's 'Cash for Livelihood' (CFL) project, Taka 15,000 was paid unconditionally in one installment during May in the worst affected Rayenda and Southkhali unions of Sarankhola upazila in Bagerhat district.
The selection of beneficiaries as well as disbursement of the cash was completed in close collaboration with the local administration, union parishad elected representatives and local NGO partners. Until now, the total SDC assistance for the SIDR affected region amounts to US$7 million.
The cash transfer approach of SDC Humanitarian Aid Department has been successfully carried out in other humanitarian situations in several countries with good results, notably in Sri Lanka after tsunami, Lebanon, Kosovo etc.
Syndicated lenders visit Popular Pharmaceuticals plant at Tongi: Prime Bank Limited arranges visit
BUSINESS REPORT
Syndications and Structured Finance Unit of Prime Bank Limited (PBL) arranged a visit programme in Popular Pharmaceuticals Limited (PPL) at Tongi, Gazipur recently to witness the commercial production and current status of the project.
Md Touhidul Alam Khan, Senior Vice President and Head of Syndications and Structured Finance coordinated the visit in favour of Lead Arranger along with other officials and executives from participating banks/FIs.
The syndicated term loan was sanctioned under Lead Arrangement of Prime Bank Limited for setting up a state-of-the-art manufacturing facility for pharmaceutical formulations at the former FISONS premises at Tongi, Gazipur.
The manufacturing site has been built with strict compliance to WHO GMP standards and also meeting US FDA and UK MHRA regulatory requirements. Nine banks/ FIs participated in the syndication deals are Prime Bank Limited, Standard Bank Limited, United Commercial Bank Limited, Commercial Bank of Ceylon Limited, Trust Bank Limited, State Bank of India, BRAC Bank Limited, Export Import Bank of Bangladesh Limited and SABINCO.
PPL has gone commercial production in August 2005 and is engaged in manufacturing and marketing of pharmaceuticals products of different dosages form like tablet, capsule, dry syrup, liquid, cream and ointment, injectable for both beta lactam and non-beta lactam group and eye products. For the first time in Bangladesh, PPL is producing dialysis fluids, omeprazole and pantaprazole injectable and cardiac vitamin etc. So far it is producing and marketing 215 nos of products till date.
PPL has started to export processing in different countries and the consequent is that they have exported their products in Kenya, Sri Lanka, Somalia and Maccau.
PPL will export their product in Singapore, Yemen, Tanzania, Libya, Sudan, Nigeria, Phillipines and in different countries by 2008.
Dr Mostafizur Rahman, Managing Director of Popular Pharmaceuticals Limited gave a warm reception to the visitors and showed the full process of producing pharmaceutical products in the plant.
At the end of the visit the executives of participating banks/FIs gave their gratitude to the sponsors of the company for their contribution to the economy of the country and reiterate banks commitment to industrialization in Bangladesh.
Syndications and Structured Finance Unit of Prime Bank Limited, as Lead Arranger and Agent, always arranges this sort visit of program to the syndicated projects for the participating lenders regularly as part of their core agency function.
DBBL relocates its Hathazari Branch
BUSINESS REPORT
Dutch-Bangla Bank Limited relocated its Hathazari Branch to an expanded and refurbished new premises at SS Tower, Court Road, Hathazari, Chittagong from June 29 with modern technology based on-line banking facilities. One ATM booth in front of the branch premises was also opened on the same day to facilitate the customers' round-the-clock opportunities--like cash withdrawal, balance enquiry, mini-statement, payments of utility bills etc.
The branch was formally opened in new premises by Md Yeasin Ali, Managing Director of Dutch-Bangla Bank Limited. Local elites, business personalities, bankers, educationists and local journalists were present at the opening ceremony. The respected guests, residents of the locality and owners of business houses/shops showed their spontaneous enthusiasm by opening account with the bank.
The opening ceremony started with a milad-mahfil seeking blessings of the almighty Allah for successful operation of the branch, prosperity of the business community, depositors of the bank and stakeholders. Among others, SH Mukhter Ahmed, Vice President and Manager of Agrabad Branch, KM Ezaz, SAVP and Manager of Hathazari Branch and Executives of Dutch-Bangla Bank Limited were also present on the occasion.
Jamuna Bank Ltd holds view exchange meeting
BUSINESS REPORT
Recently a meeting for exchanging views among the executives/officers with the newly elected chairman of the Board of Directors of Jamuna Bank Limited was held at Hotel Naz Garden, Bogra.
The meeting was inaugurated by Md Tazul Islam Chairman of the Board of Directors of the bank. Chairman of the Executive Committee Alhaj Nur Mohammed, Board of Directors of the Bank, Director Belal Hossain and Managing Director Mohammed Lakiotullah, Additional Managing Director Md Motior Rahman, Deputy Managing Director MA Salam, Md Alauddin AI-Azad, EVP and Company Secretary Md Anwar Hossain were also present.
In his speech, Md Tazul Islam expressed his satisfaction for overall achievement of targets stressing on maintenance of high asset quality and proper customer selection.
He also assured all out support from the Board for smooth operation and development of the bank.
IBBL holds discussion on BASEL-II
A discussion under Executive Development Programme on 'BASEL-II' organised by Islami Bank Training and Research Academy (IBTRA) was held on June 29 at the Board Room of Islami Bank Tower.
Prof Abu Nasser Muhammad Abduz Zaher, Chairman, Board of Directors of Islami Bank Bangladesh Limited was present at the programme as the chief guest.
Presided over by M Fariduddin Ahmad, Managing Director of the bank the key discussion was delivered by ATM Nasir Uddin, Executive Director, Bangladesh Bank. The programme was attended, among others, by Principal Moulana Zainul Abedin, Vice Chairman, Board of Directors, Mominul Islam Patwary, Chairman, Executive Committee, Kazi Harun-ar-Rashid, Engineer Md Eskander Ali Khan, AKMS Islam and Md Shamsul Huda, FCA, Directors, Mohd Shamsul Haque, Mohammad Abdul Mannan, Md Habibur Rahman, Deputy Managing Directors, Md Habibur Rahman Bhuiyan, FCA, Executive Vice President of the bank and Md Zafar Ullah, Director General of IBTRA.
India's famous Pogo chips in Bangladesh Each packet Tk 12
BUSINESS REPORT
India's famous Pogo brand of chips was formally launched in Bangladesh yesterday.
Pogo chips are made of sugar-free potato, which are imported from the United States. Gee Pee Foods Pvt Ltd, owned by Priya Group of India makes Pogo chips, having five different tastes and flavours. These are known as Pogo Masti Tomato, Pogo Masala, Pogo Sour and Onion Cream, Pogo Classic Salt and Pogo Papri. The price of each packet of these five different chips is Tk 12 only.
Alauddin Bhuiyan, Director of Bangladesh Bestmark Company Ltd, said this while speaking at a function organised at Hotel Sundarban conference room in the city on the occasion of marketing of Pogo chips in Bangladesh.
Former President of Dhaka Chamber of Commerce and Industry (DCCI) ATM Waziullah was present at the function as the chief guest.
Samir Das, Manager (Administration) of Gee Pee Foods Pvt Ltd of India said since chips are very favourite food of children special attention has been given in manufacturing Pogo brand of chips. He said Pogo chips are manufactured at an automotive plant imported from Sweden without touching by hands. A special kind of packaging is used to keep the chips fresh and maintain its taste.
Managing Director of Bangladesh Bestmark Co Ltd Engr ABM Abdul Alim said their company would market Pogo Murmure Tomato and Masala Flavours in Bangladesh in future apart from marketing the Pogo brand of chips of five different flavours.
AKM Mesbaul Huq, another Director of the company, said, "In order to sustain in today's competitive global market price of Pogo brand of chips has been made comparatively lower. At the same time, these chips are manufactured according to a healthy and nutritious formula.
Ministry of Science and ICT's project evaluation meeting held at AEC
A Project Evaluation Meeting of the year 2007-2008 was held in Atomic Energy Centre (AEC), Dhaka on June 29. Special Assistant to the Chief Adviser Manik Lal Samaddar, Ministry of Science and Information and Communication Technology presided over the meeting. The meeting was attended among others by SM Wahid-Uz-Zaman, Secretary, Ministry of Science and Information and Communication Technology, Dr Shafiqul Islam Bhuiyan, Chairman of Bangladesh Atomic Energy Commission (BAEC), Chairman BCSIR including high officials and project directors of different organizations under the ministry.
Up to June 24, 2008 the overall implementation progress of different projects of BAEC is 97 per cent, BCSIR 97 per cent, BCC 80.21 per cent which was highly appreciated in the meeting.
Manik Lal Samaddar directed the project directors to enhance their implementation progress which are not yet satisfactory.
He expressed his hope that the successful implementation of the projects will help socio-economic development of the country.
Rotary Clubs in Bangladesh to take Tk 15cr service projects
Rotary Governor Md Hafizullah has said that Rotary Clubs in Bangladesh will undertake service projects worth Tk 15 crore in the year 2008-09.
He was addressing a press conference at National Press Club on the eve of his taking over the responsibilities as Governor yesterday. Highlighting the Rotary services in Bangladesh including eradication of Polio, he informed the press that Rotary would also provide clean and Arsenic free water at a cost of Tk 3 crore, conduct 10,000 cataract operation (IOL) and 5,000 artificial limb and 2,000 cleft lip operations.
Rotary Clubs will spend Tk 1 crore for health services. Besides, tree plantation, rural development career guidance, vocational training to the needy people, projects will be continued. Rotary will also continue vocational Excellence Award and (SEED) science. Education and Economic Development Award to the eminent scientists, educationists and economists, he said.
Rotary Governor Hafizullah also said Rotary would speacillay work to minimise the child mortally rate and provide, food, health care, sanitation and education to the needy children at a cost of Tk 2 crore. Rotary will provide Narayanganj Diabetic Hospital with a modern ambulance at a cost of Tk 20 lakh. The Governor said that Rotary would come forward with assistance to the people during Monga and winter season with food and winter clothes worth Tk 1 crore in the country's northern region.
He also told the press that Rotary would construct five primary schools at SIDR affected areas with the help of Japan Rotary under World Community Service (WCS) programme at a cost of Tk 1.25 crore. As usual Rotary International will provide the government via UNICEF with polio vaccine for national immunisation (NID) at a cost of Tk 5 crore.
STAFF REPORTER
2,962 SIDR-affected families in Bangladesh are now rebuilding their livelihood and striving to stand back on their own feet with the support of the Swiss Agency for Development and Cooperation (SDC). With the 15,000 Taka cash grant received from SDC, each household has bought cows, fishing nets, boats or has invested in small businesses, agricultural farming or in other income generation activities. Disabled person Momin of Chal Rayenda village has bought a milking cow and hopes that he will be able to support his family by selling the milk.
Ripia Begum of village Jilbunia has restarted the door to door cloth selling business she had before cyclonic storm SIDR struck in November 2007.
Under SDC's 'Cash for Livelihood' (CFL) project, Taka 15,000 was paid unconditionally in one installment during May in the worst affected Rayenda and Southkhali unions of Sarankhola upazila in Bagerhat district.
The selection of beneficiaries as well as disbursement of the cash was completed in close collaboration with the local administration, union parishad elected representatives and local NGO partners. Until now, the total SDC assistance for the SIDR affected region amounts to US$7 million.
The cash transfer approach of SDC Humanitarian Aid Department has been successfully carried out in other humanitarian situations in several countries with good results, notably in Sri Lanka after tsunami, Lebanon, Kosovo etc.
Syndicated lenders visit Popular Pharmaceuticals plant at Tongi: Prime Bank Limited arranges visit
BUSINESS REPORT
Syndications and Structured Finance Unit of Prime Bank Limited (PBL) arranged a visit programme in Popular Pharmaceuticals Limited (PPL) at Tongi, Gazipur recently to witness the commercial production and current status of the project.
Md Touhidul Alam Khan, Senior Vice President and Head of Syndications and Structured Finance coordinated the visit in favour of Lead Arranger along with other officials and executives from participating banks/FIs.
The syndicated term loan was sanctioned under Lead Arrangement of Prime Bank Limited for setting up a state-of-the-art manufacturing facility for pharmaceutical formulations at the former FISONS premises at Tongi, Gazipur.
The manufacturing site has been built with strict compliance to WHO GMP standards and also meeting US FDA and UK MHRA regulatory requirements. Nine banks/ FIs participated in the syndication deals are Prime Bank Limited, Standard Bank Limited, United Commercial Bank Limited, Commercial Bank of Ceylon Limited, Trust Bank Limited, State Bank of India, BRAC Bank Limited, Export Import Bank of Bangladesh Limited and SABINCO.
PPL has gone commercial production in August 2005 and is engaged in manufacturing and marketing of pharmaceuticals products of different dosages form like tablet, capsule, dry syrup, liquid, cream and ointment, injectable for both beta lactam and non-beta lactam group and eye products. For the first time in Bangladesh, PPL is producing dialysis fluids, omeprazole and pantaprazole injectable and cardiac vitamin etc. So far it is producing and marketing 215 nos of products till date.
PPL has started to export processing in different countries and the consequent is that they have exported their products in Kenya, Sri Lanka, Somalia and Maccau.
PPL will export their product in Singapore, Yemen, Tanzania, Libya, Sudan, Nigeria, Phillipines and in different countries by 2008.
Dr Mostafizur Rahman, Managing Director of Popular Pharmaceuticals Limited gave a warm reception to the visitors and showed the full process of producing pharmaceutical products in the plant.
At the end of the visit the executives of participating banks/FIs gave their gratitude to the sponsors of the company for their contribution to the economy of the country and reiterate banks commitment to industrialization in Bangladesh.
Syndications and Structured Finance Unit of Prime Bank Limited, as Lead Arranger and Agent, always arranges this sort visit of program to the syndicated projects for the participating lenders regularly as part of their core agency function.
DBBL relocates its Hathazari Branch
BUSINESS REPORT
Dutch-Bangla Bank Limited relocated its Hathazari Branch to an expanded and refurbished new premises at SS Tower, Court Road, Hathazari, Chittagong from June 29 with modern technology based on-line banking facilities. One ATM booth in front of the branch premises was also opened on the same day to facilitate the customers' round-the-clock opportunities--like cash withdrawal, balance enquiry, mini-statement, payments of utility bills etc.
The branch was formally opened in new premises by Md Yeasin Ali, Managing Director of Dutch-Bangla Bank Limited. Local elites, business personalities, bankers, educationists and local journalists were present at the opening ceremony. The respected guests, residents of the locality and owners of business houses/shops showed their spontaneous enthusiasm by opening account with the bank.
The opening ceremony started with a milad-mahfil seeking blessings of the almighty Allah for successful operation of the branch, prosperity of the business community, depositors of the bank and stakeholders. Among others, SH Mukhter Ahmed, Vice President and Manager of Agrabad Branch, KM Ezaz, SAVP and Manager of Hathazari Branch and Executives of Dutch-Bangla Bank Limited were also present on the occasion.
Jamuna Bank Ltd holds view exchange meeting
BUSINESS REPORT
Recently a meeting for exchanging views among the executives/officers with the newly elected chairman of the Board of Directors of Jamuna Bank Limited was held at Hotel Naz Garden, Bogra.
The meeting was inaugurated by Md Tazul Islam Chairman of the Board of Directors of the bank. Chairman of the Executive Committee Alhaj Nur Mohammed, Board of Directors of the Bank, Director Belal Hossain and Managing Director Mohammed Lakiotullah, Additional Managing Director Md Motior Rahman, Deputy Managing Director MA Salam, Md Alauddin AI-Azad, EVP and Company Secretary Md Anwar Hossain were also present.
In his speech, Md Tazul Islam expressed his satisfaction for overall achievement of targets stressing on maintenance of high asset quality and proper customer selection.
He also assured all out support from the Board for smooth operation and development of the bank.
IBBL holds discussion on BASEL-II
A discussion under Executive Development Programme on 'BASEL-II' organised by Islami Bank Training and Research Academy (IBTRA) was held on June 29 at the Board Room of Islami Bank Tower.
Prof Abu Nasser Muhammad Abduz Zaher, Chairman, Board of Directors of Islami Bank Bangladesh Limited was present at the programme as the chief guest.
Presided over by M Fariduddin Ahmad, Managing Director of the bank the key discussion was delivered by ATM Nasir Uddin, Executive Director, Bangladesh Bank. The programme was attended, among others, by Principal Moulana Zainul Abedin, Vice Chairman, Board of Directors, Mominul Islam Patwary, Chairman, Executive Committee, Kazi Harun-ar-Rashid, Engineer Md Eskander Ali Khan, AKMS Islam and Md Shamsul Huda, FCA, Directors, Mohd Shamsul Haque, Mohammad Abdul Mannan, Md Habibur Rahman, Deputy Managing Directors, Md Habibur Rahman Bhuiyan, FCA, Executive Vice President of the bank and Md Zafar Ullah, Director General of IBTRA.
India's famous Pogo chips in Bangladesh Each packet Tk 12
BUSINESS REPORT
India's famous Pogo brand of chips was formally launched in Bangladesh yesterday.
Pogo chips are made of sugar-free potato, which are imported from the United States. Gee Pee Foods Pvt Ltd, owned by Priya Group of India makes Pogo chips, having five different tastes and flavours. These are known as Pogo Masti Tomato, Pogo Masala, Pogo Sour and Onion Cream, Pogo Classic Salt and Pogo Papri. The price of each packet of these five different chips is Tk 12 only.
Alauddin Bhuiyan, Director of Bangladesh Bestmark Company Ltd, said this while speaking at a function organised at Hotel Sundarban conference room in the city on the occasion of marketing of Pogo chips in Bangladesh.
Former President of Dhaka Chamber of Commerce and Industry (DCCI) ATM Waziullah was present at the function as the chief guest.
Samir Das, Manager (Administration) of Gee Pee Foods Pvt Ltd of India said since chips are very favourite food of children special attention has been given in manufacturing Pogo brand of chips. He said Pogo chips are manufactured at an automotive plant imported from Sweden without touching by hands. A special kind of packaging is used to keep the chips fresh and maintain its taste.
Managing Director of Bangladesh Bestmark Co Ltd Engr ABM Abdul Alim said their company would market Pogo Murmure Tomato and Masala Flavours in Bangladesh in future apart from marketing the Pogo brand of chips of five different flavours.
AKM Mesbaul Huq, another Director of the company, said, "In order to sustain in today's competitive global market price of Pogo brand of chips has been made comparatively lower. At the same time, these chips are manufactured according to a healthy and nutritious formula.
Ministry of Science and ICT's project evaluation meeting held at AEC
A Project Evaluation Meeting of the year 2007-2008 was held in Atomic Energy Centre (AEC), Dhaka on June 29. Special Assistant to the Chief Adviser Manik Lal Samaddar, Ministry of Science and Information and Communication Technology presided over the meeting. The meeting was attended among others by SM Wahid-Uz-Zaman, Secretary, Ministry of Science and Information and Communication Technology, Dr Shafiqul Islam Bhuiyan, Chairman of Bangladesh Atomic Energy Commission (BAEC), Chairman BCSIR including high officials and project directors of different organizations under the ministry.
Up to June 24, 2008 the overall implementation progress of different projects of BAEC is 97 per cent, BCSIR 97 per cent, BCC 80.21 per cent which was highly appreciated in the meeting.
Manik Lal Samaddar directed the project directors to enhance their implementation progress which are not yet satisfactory.
He expressed his hope that the successful implementation of the projects will help socio-economic development of the country.
Rotary Clubs in Bangladesh to take Tk 15cr service projects
Rotary Governor Md Hafizullah has said that Rotary Clubs in Bangladesh will undertake service projects worth Tk 15 crore in the year 2008-09.
He was addressing a press conference at National Press Club on the eve of his taking over the responsibilities as Governor yesterday. Highlighting the Rotary services in Bangladesh including eradication of Polio, he informed the press that Rotary would also provide clean and Arsenic free water at a cost of Tk 3 crore, conduct 10,000 cataract operation (IOL) and 5,000 artificial limb and 2,000 cleft lip operations.
Rotary Clubs will spend Tk 1 crore for health services. Besides, tree plantation, rural development career guidance, vocational training to the needy people, projects will be continued. Rotary will also continue vocational Excellence Award and (SEED) science. Education and Economic Development Award to the eminent scientists, educationists and economists, he said.
Rotary Governor Hafizullah also said Rotary would speacillay work to minimise the child mortally rate and provide, food, health care, sanitation and education to the needy children at a cost of Tk 2 crore. Rotary will provide Narayanganj Diabetic Hospital with a modern ambulance at a cost of Tk 20 lakh. The Governor said that Rotary would come forward with assistance to the people during Monga and winter season with food and winter clothes worth Tk 1 crore in the country's northern region.
He also told the press that Rotary would construct five primary schools at SIDR affected areas with the help of Japan Rotary under World Community Service (WCS) programme at a cost of Tk 1.25 crore. As usual Rotary International will provide the government via UNICEF with polio vaccine for national immunisation (NID) at a cost of Tk 5 crore.
posted by Business @ 4:41 AM
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