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Annual Report 2017 (8819 Scan the QR code for digital version of Annual Report 2017 Sustainable Development Goals Championing Green Leadership in Asia; Eco-Friendly 1,300,000 retailers Green Supply Chain Process Production 50,000 Business Partners Carbon Footprint Reduction Sustainable Waste Management Most Preferred 27% Ownership Environment, Employer by Government & Health & Safety in Bangladesh Minority Shareholders Programme 2,064 units of Country’s Pure Water Facility Solar Home System Largest Taxpayer in Arsenic affected areas in offgrid areas BDT 16,427 crore in 2017 Water Recycle Process Most Afforestation Female Friendly Programme since 1980 Organisation We take pride being a responsible corporate citizen of Bangladesh One House One Farm Digital Bangladesh Social Security Programme Ashrayan Project Community VISION 2021 Clinic HUNGER AND POVERTY FREE Education Assistance BANGLADESH Programme Investment Expansion Electricity for All Environment Protection Women Empowerment 30% of the Top Team roles held by Women 2,064 units of Solar Home System in offgrid areas; Solar Panel System saved 77,834 Kw/Hr of Electricity 95.50 million Saplings distributed; Water Recycle Process reducing consumption of 65,000,000 litres of Water Highest Tax Payer - Contributed BDT 16,427 Crore in 2017 ABOUT US The presence of British American Tobacco in this part of the world can be traced back to 1910. Beginning the journey as Imperial Tobacco 107 years ago, the Company set up its first sales depot at Armanitola in Dhaka. After the partition of India in 1947, Pakistan Tobacco Company was established in 1949. The first factory in Bangladesh (the then East Pakistan) was set up in 1949 in Fauzdarhat, Chittagong. In 1965, the second factory of Pakistan Tobacco Company went into production in Mohakhali, Dhaka. It became Bangladesh Tobacco Company Limited in 1972 immediately after Bangladesh's independence. In 1998, the Company changed its name and identity to British American Tobacco Bangladesh (BAT Bangladesh or BATB) aligning the corporate identity with other operating companies in the British American Tobacco Group. BAT Bangladesh is a subsdiary of BAT plc, world's leading tobacco group, with brands sold in 200 markets around the world. We make high quality tobacco products for the diverse preferences of consumers, spanning the business 'from seed to smoke', and we are committed to embedding the principles of corporate social responsibility through our responsible business operation. Our Shareholders We were among the first companies to be listed on the Dhaka and Chittagong Stock Exchanges and currently rank 3rd in terms of market capitalisation. British American Tobacco Group holds 72.91% of the shares; 10.19% is owned by Investment Corporation of Bangladesh; Shadharan Bima Corporation, Bangladesh Development Bank Limited and the Government of the People's Republic of Bangladesh while a further 16.90% is owned by other shareholders. Our Contributions We continue to contribute approximately two-thirds of the revenue derived from the cigarette industry. In 2017 calendar year, BAT Bangladesh contributed over BDT 16,427 crore as taxes to the National Exchequer, which makes us one of the highest taxpayers to the Government. The Company will continue to support Government proposals that establish a sustainable level of tax contribution to the National Exchequer while ensuring a sustainable growth for the industry. Our Beliefs At BAT Bangladesh, we strive to be a responsible Company wherever we operate - be it to our shareholders, employees, business partners or any other relevant internal and external stakeholder. To us, responsibility is a way of life and that is why we believe success and responsibility go together. Our People – Our Strength Employing around 1,500 people directly, engaging approximately 50,000 people indirectly as farmers, distributors, local suppliers and over 1.3 million retailers performing in our business, we take great pride in saying that BAT Bangladesh is one of the most preferred employers in the country. It is the people who bring their differences every day that make BAT Bangladesh a great place to work in. CORPORATE INFORMATION Board Compensation Committee Mr. Golam Mainuddin - Chairman Mr. Shehzad Munim - Member Mr. William Francis Pegel - Member Ms. Rumana Rahman - Secretary Board CSR Committee Mr. Mikail Shipar - Chairman Mr. Mohammad Moinuddin Abdullah - Member Board of Directors Mr. Muhammad Abdullah - Member Mr. Golam Mainuddin - Chairman Mr. Jalal Ahmed - Member Mr. Shehzad Munim - Managing Director Ms. Tahmina Begum - Member Mr. Mohammad Moinuddin Abdullah - Independent Director Mr. Mikail Shipar - Independent Director Mr. Shehzad Munim - Member Mr. Muhammad Abdullah - Non-Executive Director Mr. Md. Azizur Rahman FCS - Secretary Mr. Jalal Ahmed - Non-Executive Director Ms. Tahmina Begum - Non-Executive Director (April 2018) Risk Management Committee Mr. Kazi Sanaul Hoq - Non-Executive Director Mr. William Pegel - Finance Director Mr. K. H. Masud Siddiqui - Non-Executive Director Mr. Mohammed Zakir Hossain - Finance Controller Mr. William Francis Pegel - Finance Director Mr. Jahangir Alam - Head of Manufacturing Company Secretary & Head of Pubilc Affairs Mr. Sk. Hasibul Karim - IT Account Manager Mr. Zahurul Haque Sarker - Head of Leaf Operations Mr. Md. Azizur Rahman FCS Mr. Syed Mahbub Ali - Head of Trade Mr. Tamzeed Ahmed - Compliance Manager Audit Committee Mr. Syed Afzal Hossain - Commercial & Litigation Counsel Mr. Mohammad Moinuddin Abdullah - Chairman Mr. Anowarul Amin - Regulatory Affairs Manager Mr. Kazi Sanaul Hoq - Member Mr. K. H. Masud Siddiqui - Member Mr. Sharf Uddin - Company Security Manager Mr. Golam Mainuddin - Member Mr. Fazle Rabbi Chowdhury - Head of SP&I Mr. Md. Azizur Rahman FCS - Secretary Mr. Mehedi Arif Mozammel - SAA IR & Change Project Manager Executive Committee Mr. Shehzad Munim - Managing Director Mr. William Francis Pegel - Finance Director Mr. Ozsan Ozbas - Head of Operations Internal Audit Manager Ms. Mubina Asaf - Head of Legal & External Affairs Mr. Adnan Sharif khan Ms. Rumana Rahman - Head of Human Resources Mr. Rezaul Islam - Head of Marketing Mr. Shahed Zubair - Head of Business Development Statutory Auditors Steering Group KPMG Rahman Rahman Huq, Chartered Accountants Mr. Syed Mahbub Ali - Head of Trade Mr. Zahurul Haque Sarker - Head of Leaf Operations Governance Compliance Auditor Mr. Mohammed Zakir Hossain - Finance Controller Al-Muqtadir Associates, Chartered Secretaries Mr. Mehedi Arif Mozammel - SAA IR & Change Project Manager Bankers Mr. Jahangir Alam - Head of Manufacturing Mr. Ibrahim Sheikh - SAA Procurement Business Manager Standard Chartered Bank Mr. Sheikh Shabab Ahmed - Senior Commercial Affairs Manager Hongkong and Shanghai Banking Corporation Ms. Amun Mustafiz - Commercial Finance Controller Citibank N.A. Mr. Md Azizur Rahman - Head of Public Affairs & Company Secretary Commercial Bank of Ceylon Mr. Saad Jashim - HR Business Partner - Operations Sonali Bank Ms. Farah Zabeen - Project Manager - Auctus & Area Pubali Bank Head of Services Eastern Bank Ltd Mr. Fazle Rabbi Chowdhury - Head of SP&I Mr. Rajiv Ahmed - Consumer Product Manager Mr. Tanvir Hossain Siddique - Group Brand Manager, Premium & AP Registered Office Mr. Md. Nayeem Akhtar - Supply Chain Manager British American Tobacco Bangladesh Company Limited Mr. Kazi Mushfiqur Rahman - Group Brand Manager - VFM & Low New DOHS Road, Mohakhali, Dhaka 1206 Mr. Dewan Ashrakat Hossain - Commercial Finance Controller T: +880 2 9842791-5 F: +880 2 9842786 Mr. Mokhlesuzzaman - Project Manager, Supply Chain www.batbangladesh.com CONTENT OVERVIEW GOVERNANCE About Us 04 Corporate Governance Statement 37 Corporate Information 06 Corporate Governance Framework 38 Vision and Mission 10 Board Practices 39 Our Guiding Principles 11 Committees 41 Our Business Model 12 Effective Control Processes 43 Chairman’s Statement 14 Transparent Disclosure 48 Contribution and Performance 18 Shareholders’ Rights 49 Managing Director’s Overview 20 Board Commitments 49 AGM Invitation 24 Statement on Risk Management & Internal Control 50 AGM Notice 25 Risk Management Framework 51 Business Continuity and LEADERSHIP Crisis Management 53 System of Internal Control 54 Board of Directors 26 Report of the Audit Committee 59 Executive Committee 32 Board CSR Committee 66 Steering Group 36 Standard of Business Conduct 70 Results at a Glance 72 RESPONSIBILITY Environment Health & Safety 121 Going Green 126 Tobacco and Factory Waste Briquetting 128 CSR - Supporting SDG 130 Supporting a Great Cause- Autism 132 Directors' Report 73 Sustainable Agriculture 133 Key Strategic Pillars of Business 73 Success Story 13 Growth 73 Productivity 75 Sustainability 77 WINNING Winning Organisation 78 ORGANISATION The Board of Directors 79 Battle of Minds 144 Directors Re-Election 80 Welfare to Progress 146 Board Committees 80 Human Resources Value Creation 148 Going Concern 81 Heading for Gender Equality 150 The System of Internal Control 81 Directors Declaration 81 Concern Regarding Retrospective Tax Demand 82 SNAPSHOTS Corporate Governance Compliance Statement 83 Achievements 152 Auditors 84 BATB in Media 164 Awards & Achievements 84 People Bringing The Difference 166 Pattern of Shareholdings 86 Snapshots 169 BSEC Compliance Status 87 Certificate of Due Diligence by CEO & CFO 96 REPORTS AND Certificate of Compliance 97 FINANCIAL STATEMENT Integrated Reporting 99 Auditor’s Report to Shareholders 175 Our Value Creation Process 100 Financial Statement 176 Financial Capital 102 Income
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