Chairman's Note

Mr. Hasan Mahmood Raja

Distinguished Stakeholders,
Well-wishers &
Dear Members of United Group Family,

Assalamualaikum Wa Rahmatullah

Alhamdulillah. We are celebrating our 38th Anniversary this year. I wish a very happy anniversary to all our distinguished Stake Holders, Well-wishers and to the members of our United Group family on this auspicious day.

As you know, last year was our year of consolidation. We developed, improved and made maximum value addition to all our projects, undertakings and companies. In fact, we could achieve what we really planned to achieve with the Almighty’s grace and blessings. There had been new undertakings as well.

Quite clearly, our ‘Power Generation and Distribution’ remained the prime mover in revenue earning of the Group and we focused significantly in this sector last year. Our United Ashuganj Energy Ltd (UAEL), which went into commercial operation in May 2015, received global recognition at the ‘Asian Power Awards 2015’ winning awards in 3 categories: Gold Award for Combined Cycle Plant of the year in Asia-Pacific Region, Silver Award for Fast Track Power Plant of the year, and Bronze Award for Gas Power Project of the year.

Besides that, all the power plants of the Group received ISO certificate for quality management, occupational health and safety standard. Heartiest congratulations to all Executives and Staff of our Power Sector. On the same note, I also congratulate our UEPSL for successfully completing 24 major overhauling tasks without any incident, at par with global OEMs.

Let me also have the pleasure to inform you that United Enterprises Co. Ltd. (UECL) has been awarded a 300 MW HFO fired IPP project at Anwara by the Government of Bangladesh, which shall take our total power generation capacity up to 1000 MW. Hopefully, we shall be able to commence this project work at the end of this year and go into commercial operation by mid 2018 In sha Allah.   

United Power Generation and Distribution Co. Ltd. (UPGD) which successfully commenced its trading in both Dhaka and Chittagong Stock Exchanges from April 2015 and is doing good by the grace of Allah. UPGD also increased its jurisdiction by acquiring 2 of our power plants – United Ashuganj Power Ltd. and Shajahanullah Power Generation Company Ltd. through amalgamation with effect from 01 November 2015.

In our Land and Construction sector, we made significant progress in two of our mega projects: IPCO, our part-owned ‘Airport Hotel & Retail Project’ just adjacent to the Hazrat Shahjalal International Airport and ‘United City’, a dream residential complex at Shatarkul. In this project, basic construction works of its prime components is almost complete. Hopefully, Dhaka will see a globally renowned hotel chain operating hotel components of the project with us here alongside its iconic shopping & entertainment complex for the business travelers, tourists and locals. These projects will be in business operation by the end of 2017 In sha Allah.

In new business venture, we incorporated ‘United Lube Oil Ltd.’ (ULOL) in 2015 with the aim of setting up a modern lubricating oil blending facility for the production of PETRONAS branded oils and product in Bangladesh. The plant shall be located at Mongla Port Industrial Area, Khulna in United Group’s existing premises. To be based on the finest technology available, it is to initiate production with primary capacity of 12,000 MT per year. Construction of the plant has already begun and under strict supervision of EPC team complemented by PETRONAS technical team, the progress is well on track to meet the targeted completion date of mid 2017 In sha Allah.

In the Administrative Sector, we shifted our corporate office from Road no. 51 to Gulshan Centre Point at Road no. 90 on 03 September 2015. I think, this new set up is one of the most decent and modern offices in the country with contemporary office management system. We have done our best to create the best possible office environment for our Executives and Staffs with expectations that they would give their best for the interest of the Company.

On the Employee Welfare issue, besides PF, gratuity and Insurance, we have number of ongoing schemes like, grant, interest free loan and family medical insurance. In the last calendar year, we provided more than almost 2 crore taka on this ground to our employees to overcome their family problems. This year, we are introducing scholarships for the meritorious children and opening a Zakat Fund with the intention to ameliorate the monetary hardship of our staffs eligible for zakat.

On the public welfare sector, ‘United Trust’, our social welfare wing, has substantially increased its social development activities in the area of “Rural Education”, “Health and Sanitation”, “Poverty Alleviation” and “Community Service”. This year, they are restructuring and expanding their activities in ‘Poverty Alleviation’ and ‘Health and Sanitation’ sector to make it more dynamic and need-based. Trust budget has almost been doubled this year to enable them in achieving their mission and vision. They are also setting up Zakat based schemes for the pro-poor people and expanding their activities in urban area on projects like rehabilitation of gender victim women, street boys and beggar eradication focusing slum areas. We plan to keep patronizing United Trust as much as they need in their endeavor to be more dynamic and productive.

Finally, On behalf of the Management, I wish you all a very healthy, happy and prosperous days ahead. May Allah bestow His mercy and blessings upon us all. Ameen.