DOCSLIB.ORG

Singer Annual Report 2020.Pdf

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Singer Annual Report 2020.Pdf ANNUAL REPORT 2020 ANNUAL REPORT 2020 ANNUAL REPORT 2020 2020 A TRUSTED BRAND FOR GENERATIONS SINGER continued its journey as a brand that diligently proved it as a Brand for all generations despite the disturbance of pandemic of COVID-19 extending in 2020. Despite the closures of physical shops, absence of print media and disruptions in all other outdoor activities, SINGER was able to flourish through its high presence and activities in the digital platforms and e-Commerce. Engaging with customers 24/7, looking after the pressing demands for hygiene & home cooking & fashion oriented appliances, SINGER proved to be the most sought after trusted brand for the folks of all walks of life. Online cooking shows, sewing demo’s and other digital entertainment contents encouraged the locked-down customers to spend their quality time in cooking, sewing and home entertainment. SINGER commenced online deliveries all over the country right from the start to serve the customers when they needed the products. Being contemporary and relevant at the most vulnerable times, SINGER was there from the beginning as they have been in the hearts of customers for the last 116 years. 2020 the Pandemic Year: SINGER has been with the people of Bangladesh for more than 100 years. SINGER continued is efforts to stand by the people in 2020 under its ''SINGER for Society'' programme. Soon after the break out of pandemic in Bangladesh, SINGER donated Refrigerators, Washing Machines and Microwave Ovens to a number of hospitals across the country to facilitate the hygiene of doctors and nurses attending COVID-19 patients. We also stood by cyclone ‘’Amphan’’ affected people in the Southern Part of the country in May 2020 by distributing food aid. https://singerbd.com 2/128 ANNUAL REPORT 2020 CONTENTS 7 COMPANY PROFILE Singer has been operating in this region (Bangladesh) since 1905 8 2020 AT A GLANCE 424 Retail Outlets, 1088 Dealers & 1767 Members 11 FINANCIAL HIGHLIGHTS Number of Shareholders 10,185, increased by 3% 14 BOARD OF DIRECTORS The Board comprises Directors having diverse and professional expertiese and experiences 19 MANAGEMENT TEAM Leaders behind company’s success 23 DIRECTORS’ REPORT Despite COVID-19 impact Company achieved revenue amounting Tk. 15.1 billion which was close to 2020 revenue of Tk. 15.5 billion even after 2nd Quarter was mostly stroked by general holiday 35 DIVIDEND DISTRIBUTION POLICY According to BSEC directive the Policy takes place in this report 41 CORPORATE GOVERNANCE Corporate reputation is valuable asset of a company which is directly linked to uncompromising compliance with applicable laws, regulations, and internal guidelines 48 FINANCIAL REVIEW 2020 12 Carefully managed costs without sacrificing CHAIRMAN’S STATEMENT expansion of the business for prospects Reopening of the economy in June was a along with incurring additional expenses for bold move and proved to be a prudent one. Hopefully precautionary measures related to COVID-19 2021 will get us back to a sustainable growth track with the world economy and domestic demand turning around 52 PEOPLE IN SINGER The Company was quick on its feet to prepare offices, manufacturing units, warehouses, and showrooms according to the government protocols & advisories and Arcelik guidelines as well 54 MANAGING RISK Risk analysis programmes are designed to help the organization to deal as effectively as possible with the existing or potential threats Singer Bangladesh Limited 3/128 ANNUAL REPORT 2020 CONTENTS 46 Statement of Value Added 56 Audit Committee Report 58 Directors' Responsibilities for Financial Statements 59 Nomination and Remuneration Committee Report 61 Activity Calendar 63 Auditors’ Report Singer Bangladesh Limited 66 Financial Statements Singer Bangladesh Limited 117 Directors' Report International Appliances Limited 118 Auditors’ Report International Appliances Limited 119 Financial Statements International Appliances Limited 123 Share Information 124 Glossary of Financial Terms 125 Notice of Annual General Meeting 38 MANAGEMENT DISCUSSION AND ANALYSIS FROM MD’S DESK 2020 will be remembered for the COVID-19 pandemic, which devastated lives and disrupted livelihoods. We responded quickly and returned back to the business from 3rd Quarter. Singer Bangladesh Limited 4/128 ANNUAL REPORT 2020 VISION To be the most admired and respected family company in the country Consumers We live up to the expectation of a responsible organization by contributing to the improvement 01 in the quality of life of our customers through outstanding product and services. Shareholders We provide reasonable return 02 to shareholders while safeguarding their investment. Employees We respect each other as individuals and encourage cross 03 functional teamwork while providing opportunities for career development. Suppliers VALUES We develop our suppliers to 04 be partners in progress and share our growth with them. Competitors We respect our competitors 05 and recognize their contribution to market value. Community We conduct our business by conforming 06 to the ethics of our country and share the social responsibility of the less fortunate. Environment We make every effort to ensure that 07 the environment is protected and conserved for future generations. Singer Bangladesh Limited 5/128 ANNUAL REPORT 2020 MISSION Our mission is to improve the quality of life of people by providing comforts and conveniences at affordable prices To be the market leader in our 01 product range and market segment. Provide our consumers with the best service and shopping 02 experience in the country. Provide our consumers with 03 products of latest technology. OBJECTIVES Develop our employees to 04 achieve their real potential. Provide our shareholders with steady asset growth and 05 return on investment above the industry norm. Grow our revenue and profits at a rate 06 above the industry norm. Singer Bangladesh Limited 6/128 ANNUAL REPORT 2020 CORPORATE DIRECTORY Board of Directors Chief Financial Officer Akram Uddin Ahmed Chairman Dr. Fatih Kemal Ebiclioglu In-charge- Head of Internal Audit and Compliance Shahed Al-Mahmud Chowdhury Managing Director & CEO M. H. M. Fairoz Auditors A Qasem & Co. Independent Directors Chartered Accountants Dr. Syed Ferhat Anwar (Up to February 28, 2021) Masud Khan Legal Retainer Reazul Haque Chowdhury (From March 1, 2021) Advocate Md. Motiur Rahman Directors Corporate Governance Compliance Auditor Hakan Hamdi Bulgurlu M/s. Itrat Husain & Associates Polat Sen Chartered Secretaries Cemal Can Dincer Bankers Acting Company Secretary Trust Bank Limited Pubali Bank Limited Kazi Ashiqur Rahman Dhaka Bank Limited Audit Committee Bank Alfalah Limited Eastern Bank Limited Masud Khan, Chairman The City Bank Limited Dr. Syed Ferhat Anwar (Up to February 28, 2021) Mutual Trust Bank Limited Reazul Haque Chowdhury (From March 1, 2021) Commercial Bank of Ceylon Plc. Polat Sen Standard Chartered Bank Kazi Ashiqur Rahman, Secretary The Hongkong and Shanghai Banking Corporation Limited Nomination & Remuneration Committee Registered Office Dr. Syed Ferhat Anwar, Chairman (Up to February 28, 2021) 39 Dilkusha Commercial Area (From March 1, 2021) Reazul Haque Chowdhury, Chairman Dhaka-1000 Masud Khan Cemal Can Dincer Corporate Office Kazi Ashiqur Rahman, Secretary 5B, Road No. -126 Gulshan-1, Dhaka-1212 Management Committee M. H. M. Fairoz, Chairman Audit and Wholesale Office Akram Uddin Ahmed, Member Secretary H. S. Bhaban Mokbulla Huda Chowdhury Cha-75/A, Bir Uttam Rafiqul Islam Avenue Chandana Aravinda Samarasinghe Pragati Sarani, Dhaka- 1212 Kazi Rafiqul Islam Erdinc Ayan Singer Manufacturing Complex (SMC) Hakan Altinisik Rajfulbaria, Jhamur, Savar, Dhaka-1347 Md. Anisur Rahman Md. Monzur Murshed Subsidiary Company Abu Zafor Md. Kibria International Appliances Limited Mohammad Ashgar Hossain Koulashur, Hemayetpur, Savar, Dhaka-1348 Singer Bangladesh Limited 7/128 ANNUAL REPORT 2020 COMPANY PROFILE SINGER BANGLADESH LIMITED inger has been operating in this into a public limited company in 1983 products across a range of electrical region (Bangladesh) since 1905 when it offered its shares to the public home appliances. S when the first Singer sewing with the requisite permission from the machines went on sale at Chittagong and Government. Hire Purchase scheme is one of the Dhaka stores and at that time the country cardinal factors for the success of the was a part of the Indian sub-continent. Since its inception in Bangladesh, the Company. This scheme is innovative and name Singer has been synonymous with appropriate for Bangladesh considering After the partition of the Indian the sewing machine. Although Singer the socio-economic conditions of the Sub-Continent in 1947, Singer in East Corporation had started diversification of country. Pakistan operated as a branch of Singer its product range in early sixties, Singer Pakistan and the products used to come Bangladesh Limited remained a company In 2019, Singer Bangladesh Limited from West Pakistan. At the initial stage with a single product – ‘sewing machines’ became a member of Arcelik A. S., marketing operation was carried out till 1985. A single product sewing Turkish largest home appliances through only 10 shops, which increased machine company turned into a company (Part of Koc Holding, Turkey). to 43 by the late 1960s. In December 16, multi-product consumer durable Retail Holdings Bhold B. V. is the majority 1971 Bangladesh emerged as a company in 1985. shareholder in the company, holding a sovereign state. As a result, the East stake of 57%. The
Load more

Recommended publications
  • Bangladesh Limited Investor
    BANGLADESH LIMITED INVESTOR PRESENTATION March 2019 Today’s Presenters Gavin Walker MHM Fairoz Chairman Chief Executive Officer Singer Bangladesh Limited Singer Bangladesh Limited President & CEO Singer Asia Limited 2 Company Profile Industry Retail and consumer finance Household consumer durables Revenue1 US$ 164m / BDT 13,7bn Shareholder structure2 1 EBITDA US$ 20.0m / BDT 1,7bn (Listed on DSE since 1983 & CSE since 2001) EBITDA margin1 12.4% Net income1 US$ 11.0m / BDT 921m Number of retail stores2 385 2 Number of employees 1,507 3 Number of shareholders2 9,273 Note: 1. For 12 months ended 31 Dec 2018 2. As at 31 Dec 2018 3. Held via Retail Holdings Bhold B.V. Details of the group structure are provided in Appendix 1 3 Key Growth Drivers 4 Key Growth Driver 1 - Robust economic fundamentals Great environment for long-term growth Note: 1. Middle & affluent class 2. World Bank 3. Product penetration rates amongst Bangladesh households remains very low in certain product categories (for example; air conditioners 3%, washing machines 2%, personal computers 5%, refrigerators 20%) – company estimates 5 Key Growth Driver 2 - Strong brand and reputation is one of the most recognised brands in Bangladesh Notes: 1. Company history is set-out in Appendix 2 2. Awarded - No 1 Refrigerator Brand in Bangladesh by Bangladesh Brand Forum/ AC Nielson 3. Awarded super brand status in consumer durable industry 6 Key Growth Driver 2 - Strong brand and reputation is one of the most recognised brands in Bangladesh Notes: 1. Awarded annually by ICSB 2. Emerging Credit Rating Agency 7 Key Growth Driver 3 – Extensive product portfolio A leading position in multiple product categories Home appliances 68%1 Consumer electronics 25%1 Refrigerators & Washing Air Televisions Laptops freezers machines conditioners Furniture 2%1 Sewing machines 4%1 Others 1%1 Sitting Bedroom Dining Zig-Zag Straight Instant power Voltage room sets sets room sets model stitch model supply stabilizer House brands – 90%1 Third-party (including) - 10%1 Own TRUSTED INTERNATIONAL BRAND Note: 8 1.
    [Show full text]
  • SINGER BANGLADESH LIMITED Statement of Financial Position (Un-Audited)
    SINGER BANGLADESH LIMITED Statement of Financial Position (Un-audited) Consolidated Company 30 September 31 December 30 September 31 December In BD Taka Note 2020 2019 2020 2019 Assets Property, plant and equipment 3 1,392,225,458 1,420,024,293 1,070,289,594 1,088,581,106 Intangible assets 4 25,462,388 29,765,141 25,371,241 29,664,990 Right-of-use (ROU) asset 1,380,113,934 1,448,941,241 1,295,356,192 1,340,068,314 Investments 5 4,199,450 4,199,450 650,998,506 650,998,506 Deferred tax assets 6 16,266,103 - 68,258,033 43,667,319 Deposits and prepayments 7 29,678,474 36,228,957 23,492,798 23,160,298 Non-current assets 2,847,945,806 2,939,159,082 3,133,766,364 3,176,140,533 Inventories 8 4,076,928,954 4,398,389,858 3,664,428,616 3,779,883,956 Trade and other receivables 9 4,103,246,714 2,471,880,052 4,395,891,424 2,513,546,473 Advances, deposits and prepayments 7 165,480,124 212,030,470 97,402,093 156,219,658 Current tax assets 10 243,574,964 128,507,136 - - Cash and cash equivalents 11 172,324,277 181,712,093 169,420,593 180,580,885 Current assets 8,761,555,033 7,392,519,609 8,327,142,726 6,630,230,972 Total assets 11,609,500,839 10,331,678,691 11,460,909,090 9,806,371,505 Equity Share capital 12 997,028,380 997,028,380 997,028,380 997,028,380 Reserves 566,691,593 569,134,429 566,691,593 569,134,429 Retained earnings 1,509,247,359 1,625,912,265 1,714,377,078 1,851,331,233 Equity attributable to owners of the Company 3,072,967,332 3,192,075,074 3,278,097,051 3,417,494,042 Non-controlling interest - - - - Total equity 3,072,967,332 3,192,075,074
    [Show full text]
  • February2020
    INVESTOR PRESENTATION February2020 Sensitivity: Public Company Profile Arcelik at a Glance Shareholder Structure 9 COUNTRIES, 23 PRODUCTION TL32bn FACILITIES 1500+ (Turkey, China, Romania, Russia, South Africa, Researchers Revenue Thailand, Pakistan, India, Bangladesh) Working in Free Float 68% share of 25.2% international salesEmployeesSales and Marketing Products and 15 Offices in Services in ~150 Worldwide R&D Centres 34 countries Countries Koç Group TL3.4bn Burla 57.2% Group 3000+ 17.6% EBITDA ~32,000 employees worlwide Patent 10.5% EBITDA ~ 24.000 blue collar Applications Margin ~ 8.000 white collar 2019 FY figures * Ranked 67th in the World Intellectual Property Organisation's (WIPO) 2019 list of companies that apply for international patents most regularly Sensitivity:May 2020 Public 60 Years of History • Acquisition of Dawlance in Pakistan • Establishment of Arçelik Pazarlama A.Ş. • Turkey’s first 4K Android Ultraslim TV & OLED TV • Turkey’s first ‘Smart Home Asistant’ Establishment in Beko starts marketing Production plants in Acquisition of Defy in • Launch of TECH PRO Academy, Atölye Istanbul & sales operations Russia and China South Africa 4.0 and Garage 1955 2001 2005-2006 2011 2016 Until 2000s The era of many firsts 2002 2008-2010 2014-2015 2017-2019 • First productions of washing machine & refrigerator Acquisition of the brands • Turkey’s first Tumble Dryer Plant • Expansion to Thailand • JV Agreement in India with • Establishment of Refrigerator Plant & Compressor Plant Blomberg, Elektra Bregenz, • First 4 door refrigerator produced in Turkey • Listed under BIST Sustainability Tata Group’s Voltas • Establishment of R&D Centre and Consumer Leisure, Flavel and Arctic • Merge with Grundig Elektronik A.Ş.
    [Show full text]
  • Board of Directors
    BOARD OF DIRECTORS oined the Board on April 3, 2015, he serves as President of 2019. Consumer Durables at Koç Holding AS. Fatih Kemal Ebiçlioğlu (Ph.D), J Koç Holding AS, President of He graduated from Ankara University, Consumer Durables Faculty of Political Science and Public Administration. He completed his MBA At 1989 Fatih Kemal Ebiçlioğlu started in Finance at Virginia Commonwealth his career at the Ministry of Finance as University and has a PhD from Ankara a Junior Financial Auditor and served University, Faculty of Business as a Financial Auditor and Chief Administration. Mr. Ebiçlioğlu is also a Financial Auditor. He worked as a Member of the Board of Directors of lecturer in Hacettepe, Bilkent and TÜSİAD and Turkish Exporters Atılım Universities between 1998-2002. Association (TİM). He joined the Koç Group in 2002 and His duties undertaken in the last worked as the Coordinator of the decade are mainly listed above, and Finance Group and continued as the he is on the board of some companies Coordinator of Audit Group between in Koç Group. 2004-2005. In April 2005 he was DR. FATIH KEMAL EBIÇLIOĞLU assigned as Chief Financial Officer CHAIRMAN (CFO) of Arçelik AS. From February oined the Board on September President, Sri Lanka Bangladesh 6, 2016. Chamber of Commerce and Industry Prior to this appointment Mr. (SLBCCI). Member - Executive Fairoz served as the Marketing Committee, Foreign Investors Chamber J Director of Singer Bangladesh of Commerce and Industry (FICCI) and Limited. also Member of Board of Directors, Bangladesh Employers Federations Fairoz began his career in marketing (BEF).
    [Show full text]
  • Singer Bangladesh Limited
    Analyst: Mohammad Asrarul Haque [email protected] Phone: +8802471129474 (Ext.: 351) Singer Bangladesh Limited Flash Note (April 02, 2019) DSE: SINGERBD; BLOOMBERG: SINGER:BD Rating: ‘Not-Rated’ Sector: Engineering Current Market Price: 185.6 Update on the Arçelik A.Ş’s acquisition of Singer Bangladesh’s holding company Arçelik’s global experience & expertize will result in acceleration of the growth engine of the business of Singer Bangladesh Ltd. by extending its foothold in the local market further Acquisition of Singer’s Bangladesh business by Arçelik A.Ş at $75 million by acquiring Retail Holdings Bhold B.V. (sponsor shareholder of Singer Bangladesh Ltd.). Retail Holdings Bhold B.V.’s 57% sponsor shares includes 20% non-remittable sponsor shares that are restricted as to the remittance of dividends and proceeds from sale of these shares. There will be no change in the shareholding structure of the company (Singer), no direct exchange or trade of Singer’s share in Bangladesh but Ardutch B.V. (subsidiary of Arçelik A.Ş.) will be the ultimate owner of Singer’s 57% shares by acquiring 100% shares of Retail Holdings Bhold B.V., The Netherlands. LATEST PSI: Retail Holdings Asia B.V. (the “Seller”), 100% shareholders of Retail Holdings Bhold B.V. (“Majority Shareholder”) which is the the legal and beneficial owner of 56.99% shares of the Singer Bangladesh Ltd. (as of 22.03.2019), has executed a Share Purchase Agreement on 22.03.2019 (the “SPA”) to sell and dispose 100% issued and outstanding shares in the share capital of the Majority Shareholder to Ardutch B.V.
    [Show full text]
  • A Comprehensive Study on Trade Financing of Singer, Bangladesh Limited
    A Comprehensive Study on Trade Financing of Singer, Bangladesh Limited A Comprehensive Study on Trade Financing of SINGER, Bangladesh Limited Internship Report A Comprehensive Study on Trade Financing of Singer, Bangladesh Limited Submitted to: Saif Hossain Senior Lecturer BRAC Business School BRAC University Submitted by: Anika Tasnim Zaman ID: 13104032 BUS 400 BRAC Business School BRAC University Date of Submission 30/08/2017 A Comprehensive Study on Trade Financing of SINGER, Bangladesh Limited Letter of Transmittal 30th August, 2017 Saif Hossain Associate Professor BRAC Business School BRAC University 66, Mohakhali, Dhaka-1212, Bangladesh Subject: Submission of Internship Report Dear Sir, It gives me immense pleasure to present you with my internship report titled “A Comprehensive Study on Trade Financing of SINGER, Bangladesh Limited”. The primary purpose of this report is to explore how Singer Bangladesh is using Trade Financing to explore different horizons in their business and implementing different techniques in trade to change the landscape of the industry. I have tried my best to cover the topic extensively and effectively and I sincerely hope this report will meet your expectations. I am immensely grateful for your support, guidance and encouragement during the preparation of the report. Please accept the report and oblige. I will be glad to clarify any discrepancies that may arise in the report. Sincerely, _______________ Anika Tasnim Zaman ID: 13104032 A Comprehensive Study on Trade Financing of SINGER, Bangladesh Limited ACKNOWLEDGEMENT It is with great pleasure on my part that I have the opportunity to submit this internship report after three months of corporate experience at one of the world’s leading MNCs, SINGER Bangladesh Limited.
    [Show full text]
  • Why Bangladesh
    INVESTMENT INTO BANGLADESH March2019 Sensitivity: Public Why Bangladesh • Strong Demographics ➢ Population of 163 million ➢ 38 million households ➢ Urban population: 35% ➢ Middle income population is expected to grow significantly during the next decade. • Sustained, high GDP Growth (CAGR of 6,6% between 2010-2018) (Source: IMF) • Favorable Appliance Market ➢ Refrigerator Market estimated around 1,2 million units ➢ Estimated market size of around 600 K units for washing machines, freezers, A/Cs and microwave ovens ➢ TV market is estimated around 700 K units ➢ Low penetration rates (Around 20% for refrigerators, single-digit for other segments) Sensitivity:March 2019 Public Why Singer Bangladesh Ltd. • Strong Position in Appliance Market ➢ Leading position in multiple product categories ➢ Singer, one of the most recognized brands in the country ➢ Wide product range (home appliances, consumer electronics, others) ➢ Extensive retail and service network ➢ Around 90% of sales under Singer brand ➢ International business partners • Strong Financial Track Record ➢ Growth CAGR of 15% in USD terms since 2005 ➢ Above the industry-average profit margins • Reported EBITDA Margin : 12,4% (2018) • Reported Net Profit Margin : 6,7% (2018) Sensitivity:March 2019 Public About Singer Bangladesh Ltd. • Operates in household consumer durables and retail & consumer finance • Listed in Dhaka Stock exchange in 1983 and Chittagong Stock Exchange in 2001 • Around 70% of sales, coming from home appliances 2018 Sales : USD 164 million • Production capacity of 2%
    [Show full text]
  • Brief Analysis of Olympic Industries
    Equity Note on Singer Bangladesh Limited (SINGERBD) Date: March 18, 2021 Resistance: 187.30 MFI: 55.66 Current Price (BDT): 170.00 Support: 162.90 RSI: 45.44 IPO Information Company Overview: Market Cap (BDT mn) 16,690.3 SINGERBD manufactures and markets home appliances, Equity Market Weight 0.4% consumer electronics, sewing machines, furniture and other Paid-up Capital (BDT mn) 997.0 appliances. Authorized Capital (BDT mn) 2,500.0 Incorporation & Commercial Operation: September, No. of Share Outstanding (in mn) 99.7 1979 Free-float Shares (Inst.+For.+Public) (in mn) 42.9 Key Personnel: DR. Fatih Kemal Ebiçlioğlu (Chairman), M. 1 Year Avg. Turnover* (BDT mn) 30.0 H. M. Fairoz (Managing Director & CEO). 1 Year Return 29.2% Plant Location: Mousa Koulashur, Hemayetpur, Savar, 52-week price range (BDT) 130.6 - 187.40 Dhaka, Bangladesh (East) Extension area DEPZ, Ganakbari, Sector Forward P/E 21.86 Savar, Dhaka-1349, Bangladesh. Market Forward P/E 15.03 Shareholding Structure: 2020 As on Sponsor/ Institutions Foreign Public 2017 2018 2019 (9m An”) Director Financial Information (BDT mn): Jan, 2021 57.00% 19.50% 6.69% 16.81% Net Sales 11,059 13,559 15,485 16,442 Dec, 2020 57.00% 19.39% 6.81% 16.80% Gross Profit 3,119 3,760 4,353 4,339 Dec, 2019 57.00% 19.27% 5.36% 18.37% Operating Profit 1,185 1,659 1,951 1,799 Dec, 2018 57.00% 12.68% 11.80% 18.52% Financial Expenses 158 319 404 497 Dec, 2017 57.00% 14.80% 7.42% 20.78% Profit After Tax 746 921 1,032 864 Assets 7,072 8,487 10,332 11,610 Business Profile: Debt 1,865 2,775 1,998 3,308 SINGERBD has a distribution network of 405 company owned Equity 2,223 2,378 3,192 3,073 stores and 974 wholesale dealers.
    [Show full text]
  • Company Profile
    Company Profile SINGER BANGLADESH LIMITED inger has been operating in this company on 4 September 1979 under encompass a highly successful region (Bangladesh) since Companies Act 1913. It was multi-brand strategy combining S 1905 when the first Singer converted into a public limited products of top world marques with sewing machines went on sale at company in 1983 when it offered its the Company's own products across Chittagong and Dhaka stores and at shares to the public with the requisite a range of electrical home that time the country was a part of the permission from the Government. appliances. Indian sub-continent. Since its inception in Bangladesh, the Hire Purchase scheme is one of the After the partition of the Indian name Singer has been synonymous cardinal factors for the success of the Sub-Continent in 1947, Singer in East with the sewing machine. Although Company. This scheme is innovative Pakistan operated as a branch of Singer Corporation had started and appropriate for Bangladesh Singer Pakistan and the products diversification of its product range in considering the socio-economic used to come from West Pakistan. At early sixties, Singer Bangladesh conditions of the country. the initial stage marketing operation Limited remained a company with a was carried out through only 10 single product – ‘sewing machines’ till In 2019, Singer Bangladesh Limited shops, which increased to 43 by the 1985. A single product sewing became a member of Arcelik A. S., late 1960s. In December 16, 1971 machine company turned into a Turkish largest home appliances Bangladesh emerged as a sovereign multi-product consumer durable company (Part of Koc Holding, state.
    [Show full text]
  • Singer Bangladesh Limited Dse: Singerbd Bloomberg: Singer:Bd
    SINGER BANGLADESH LIMITED DSE: SINGERBD BLOOMBERG: SINGER:BD Company Overview Company Fundamentals Singer Bangladesh Limited (The Company) is operating in this Market Cap (BDT mn) 13,038.1 region (now Bangladesh) since 1905. In 1983, the Firm had Market weight 0.4% established itself as public limited Company. It has been a No. of Shares Outstanding (mn) 76.7 direct subsidiary of the Singer Bhold BV, the Netherlands since Free-float Shares (Public+Institution+Foreign) 41.7% 2003. Up to 1985, the Company produced only sewing Paid-up Capital (BDT mn) 766.9 20.5 machine. Over the years, SINGER has transformed into a 3 Months Average Turnover (BDT mn) 3 Months Return 0.1% marketing powerhouse with a wide range of product brands Current Price (BDT) 170.0 including manufacturing of household consumer durable 52-week price range (BDT) 167.2 - 207.9 products i.e. televisions, air conditioners, sewing machines, Sector Forward P/E 17.3 furniture and some other consumer electronics and household 2018 appliances. Singer Bangladesh has over 380 retail outlets 2015 2016 2017 (3M Ann.) (Singer Mega & Singer Plus & singer Pro outlets), around 500 dealers and widespread service networks in the country. The Financial Information (BDT mn): manufacturing plant of the Company is situated at Savar, Sales 6,911 9,007 11,059 9,434 Dhaka. Gross Profit 1,843 2,594 3,119 2,763 Operating Profit 557 934 1,157 944 International Appliances Limited (IAL) became a subsidiary (73.85% owned) of Singer Bangladesh Limited on October 2017, Profit After Tax 369 546 746 490 started its operation in July 2016 with an initial capacity of Assets 3,653 5,700 7,072 8,049 250,000 units refrigerator.
    [Show full text]
  • Singer Bangladesh Limited Dse: Singerbd Bloomberg: Singer:Bd
    SINGER BANGLADESH LIMITED DSE: SINGERBD BLOOMBERG: SINGER:BD Company Overview Company Fundamentals Singer Bangladesh Limited (The Company) is operating in this Market Cap (BDT mn) 15,085.8 region (now Bangladesh) since 1905. In 1983, the Firm had Market weight 0.4% established itself as public limited Company. It has been a No. of Shares Outstanding (mn) 76.7 direct subsidiary of the Singer Bhold BV, the Netherlands since Free-float Shares 41.7% 2003. Up to 1985, the Company produced only sewing Paid-up Capital (BDT mn) 766.9 39.8 machine. Over the years, SINGER has transformed into a 3 Months Average Turnover (BDT mn) 3 Months Return 4.9% marketing powerhouse with a wide range of product brands Current Price (BDT) 196.7 including manufacturing of household consumer durable 52-week price range (BDT) 175.5 - 228.9 products i.e. televisions, air conditioners, sewing machines, Sector Forward P/E 21.5 furniture and some other consumer electronics and household 2017 appliances. Beside these, it is also carrying out marketing of 2014 2015 2016 (9M Ann.) consumer electronics, home appliance, refrigerator & freezer, computer and instant power supply and other allied products. Financial Information (BDT mn): Singer Bangladesh has over 374 retail outlets (Singer Mega & Sales 7,262 6,911 9,007 12,428 Singer Plus & singer Pro outlets), 425 dealers and widespread Gross Profit 1,840 1,843 2,594 3,492 service networks in the country. The manufacturing plant of the Operating Profit 600 557 934 1,414 Company is situated at Savar, Dhaka. Profit After Tax
    [Show full text]
  • Company Profile
    COMPANY PROFILE SINGER BANGLADESH LIMITED inger has been operating in this into a public limited company in 1983 products across a range of electrical region (Bangladesh) since 1905 when it offered its shares to the public home appliances. S when the first Singer sewing with the requisite permission from the machines went on sale at Chittagong and Government. Hire Purchase scheme is one of the Dhaka stores and at that time the country cardinal factors for the success of the was a part of the Indian sub-continent. Since its inception in Bangladesh, the Company. This scheme is innovative and name Singer has been synonymous with appropriate for Bangladesh considering After the partition of the Indian the sewing machine. Although Singer the socio-economic conditions of the Sub-Continent in 1947, Singer in East Corporation had started diversification of country. Pakistan operated as a branch of Singer its product range in early sixties, Singer Pakistan and the products used to come Bangladesh Limited remained a company In 2019, Singer Bangladesh Limited from West Pakistan. At the initial stage with a single product – ‘sewing machines’ became a member of Arcelik A. S., marketing operation was carried out till 1985. A single product sewing Turkish largest home appliances through only 10 shops, which increased machine company turned into a company (Part of Koc Holding, Turkey). to 43 by the late 1960s. In December 16, multi-product consumer durable Retail Holdings Bhold B. V. is the majority 1971 Bangladesh emerged as a company in 1985. shareholder in the company, holding a sovereign state.
    [Show full text]