Meghna Cement gets ICMAB Best Corporate Award-2014

Engr AKM Mahbub-Uz-Zaman, deputy managing director (cement sector), Bashundhara Group, receive ICMAB Best Corporate Award 2014 for Meghna Cement Mills Ltd from Finance Minister AMA Muhith at a ceremony at a city hotel on Tuesday. Institute of Cost and Management Accountants of Bangladesh organised the event.

Engr AKM Mahbub-Uz-Zaman, deputy managing director (cement sector), Bashundhara Group, receive ICMAB Best Corporate Award 2014 for Meghna Cement Mills Ltd from Finance Minister AMA Muhith at a ceremony at a city hotel on Tuesday. Institute of Cost and Management Accountants of Bangladesh organised the event.

Meghna Cement Mills Limited, a sister concern of country’s leading business conglomerate Bashundhara Group (BG), has been awarded with the ‘ICMAB Best Corporate Award-2014′ in the cement category.

Finance Minister AMA Muhith handed over the award to Engr. AKM Mahbub-Uz-Jaman, Deputy Managing Director (Cement Sector) of Bashundhara Group, during a gala award giving ceremony of ‘ICMAB Best Corporate Award-2014′ held at Pan Pacific Sonargaon hotel in the capital. Talking to daily sun, President of Institute of Cost and Management Accountants of Bangladesh (ICMAB) Mohammad Selim said the committee of ‘ICMAB Best Corporate Award’ has selected the nominations for the awards based on the management skill, profitability and funding flexibility of the companies.

After its inception in 1992 at Mongla Industrial Area in Khulna, the Meghna Cement brand of Bashundhara Group has been maintaining a trend of continued success in the market even amid the country’s unstable political situation. Skilled management and honesty has led the Meghna Cement to earn an attractive sum of net profit of Tk 66,519,769 (Tk 6.65 crore) in the year 2012 and nearly Tk 14 crore in 2013. While addressing the function, Finance Minister AMA Muhith said the country is passing through a crisis situation, which is simply dangerous. ‘The destructive activities currently being carried out in the country in the name of political movement are totally uncivilized, just not acceptable,’ he added. Muhith said the political situation would cause severe harm to the country’s economy. ‘I personally have experience of passing through crisis in different times of my life’but now it’s quite a different type of crisis I have been experiencing,’ he said, adding that the fear of being victim of Petrol Bomb has turned the lives of people horrible. ‘Bangladesh did very well in the economic development for the last 5 to 6 years even in a period of the global economic crisis, we had been in a peaceful and stable situation’, the finance minister said, adding that ‘A horrible situation prevails in the country.’

Praising the ICMAB for continuing with the award every year to recognise the best corporate companies, Muhith said the awards will inspire them in practicing good governance, maintaining transparency and accountability more and more in the coming days. ‘The award wining tendency lead the companies through a spirit of competition and recognition’, he said. Chairman of Bangladesh Securities and Exchange Commission (BSEC) Prof. Dr. Khairul Hossain attended the ceremony as special guest with President of ICMAB, Mohammad Selim in the chair.

This year ICMAB has awarded a total of 66 companies in 14 separate categories including State Owned Commercial Banks, Foreign Commercial Banks, Private Commercial Banks (Islamic Operation), Proivate Commercial Bank (traditional Operation), NBFI, Non-Life Insurance Companies, Cement Sector, Pharmaceutical Induatry, Power Generation, Multinational etc. A total of six cement companies have been awarded with this prestigious award. The other cement manufacturers are Heidelberg Cement Bangladesh Limited, Lafarge Surma Cement, Meghna Cement Mills Limited, MI Cement Factory Ltd., Confidence Cement and Premier Cement Mills Limited. Earlier, the ICMAB organised the first-ever CFO conference in Bangladesh with the theme ‘Learn, Lead and Succeed’. Senior Secretary of Ministry of Commerce, Hedayetullah Al Mamoon inaugurated the conference as chief guest. The senior commerce secretary congratulated ICMAB for organising such an event. ‘I hope that the organisation will continue to arrange more such events which benefits the professionals,’ said Hedayetullah Al Mamoon. Among others ICMAB president Mohammed Salim, FCMA; Vice President of ICMAB ASM Shaykhul Islam, FCMA; Chairman of Seminar and Conference Committee of ICMAB Mozaffar Ahmed, FCMA and representative from CIMA Aubrey Joachim were present during the inauguration of the conference. The Daily Sun was the media partner of the event.