BEXIMCO

BEXIMCO, formally Bangladesh Export Import Company Limited, is a Bangladeshi multinational conglomerate and holding company headquartered in Dhaka. Founded in 1972 by brothers A. S. F. Rahman and Salman F. Rahman, the group developed after Bangladesh's independence from a family business background associated with jute. The family's earlier jute operation was nationalized in the early 1970s, while later economic liberalization enabled the founders to rebuild and broaden their commercial activities. Rather than operating as a single-category consumer brand, BEXIMCO functions as a house of companies with interests across industrial, infrastructure, financial and consumer markets. Its portfolio has included textiles and apparel, pharmaceuticals, personal protective equipment, ceramics, construction, real estate, power generation, renewable energy, petroleum products, food and beverage, fisheries, hotels, information technology, media, satellite television, travel and tourism, and financial services. Group subsidiaries have exported products to dozens of countries, while retail operations have extended into South Asia and Eastern Europe. Several businesses have given BEXIMCO visibility beyond Bangladesh. Beximco Pharmaceuticals became the first Bangladeshi company to list on the London Stock Exchange's Alternative Investment Market in 2005. The Yellow fashion business expanded from Bangladesh into Pakistan, and Shinepukur Ceramics opened a showroom in Moscow in 2009. The group also acquired interests in Bangladeshi businesses including IFIC Bank and Unique Hotels and Resorts during its 2010 expansion period. In telecommunications and media, Beximco Communications operates Akash Digital TV, Bangladesh's satellite direct-to-home television service, which relaunched under the Akash name in 2019. BEXIMCO has also pursued large-scale energy projects. Teesta Solar Limited developed a 200-megawatt solar facility in northern Bangladesh, using approximately 520,000 panels across about 600 acres. The project began supplying power to the national grid in December 2022 and was formally inaugurated in 2023. The group entered a period of severe operational and financial pressure during Bangladesh's political upheaval in 2024. Salman F. Rahman, a co-founder and long-serving vice chairman, was arrested in August 2024 following the change of government and faced investigations and criminal allegations. Courts subsequently considered the appointment of a receiver to supervise BEXIMCO entities and assets. The group also faced unpaid wages, worker protests, reduced orders and difficulty obtaining banking support. In December 2024, reports stated that approximately 30,000 employees had been laid off. The group reported a loss of Tk 1.13 billion for the July–September 2024 quarter according to the cited reference material. Because the legal, governance and operating position has continued to evolve, BEXIMCO's present status should be verified against current company filings and court records.

BEXIMCO was established in 1972, shortly after Bangladesh became independent, by brothers A. S. F. Rahman and Salman F. Rahman. The family had earlier been involved in jute, but its jute factory was nationalized in the early 1970s. As Bangladesh adopted more market-oriented economic policies during the late 1970s and 1980s, the family rebuilt its commercial base and began developing a broader industrial group. The company gradually moved beyond trading into manufacturing, export production and investment. Textiles, apparel and pharmaceuticals became important pillars, supplemented by ceramics, construction, real estate and other industrial activities. This diversification model eventually produced a portfolio of publicly traded and privately held companies rather than a single operating business. BEXIMCO's subsidiaries supplied international markets, and the group developed retail, media and service operations alongside its manufacturing activities. An important international milestone came in 2005, when Beximco Pharmaceuticals became the first Bangladeshi company to list on the London Stock Exchange's Alternative Investment Market. The group expanded its consumer presence through Yellow, a clothing brand that opened its first overseas retail outlet in Karachi and later grew in Bangladesh and Pakistan. Shinepukur Ceramics added an international showroom in Moscow in 2009. In 2010, BEXIMCO acquired interests in several significant Bangladeshi businesses, including IFIC Bank and Unique Hotels and Resorts. The group continued to add businesses in energy, communications and technology. Its portfolio came to include power generation, petroleum products, information technology, food and beverage, hotels, travel, media and financial services. In satellite television, Beximco Communications initially operated RealVU DTH, which began broadcasting in 2016 through a joint venture arrangement. After changes in ownership and a period of operational difficulty, the service returned in 2019 under the Akash DTH name. It later used the Bangladesh-1 satellite, offered more than 120 channels and introduced personal video recording capability in 2021. BEXIMCO also invested in renewable generation. Teesta Solar Limited developed a 200-megawatt solar plant beside the Teesta River in northern Bangladesh. The facility began delivering power to the national grid in December 2022 and was inaugurated in 2023. Its reported design included 520,000 panels installed over roughly 600 acres. The group's corporate position deteriorated during the political and economic disruption of 2024. Salman F. Rahman, who had been a prominent BEXIMCO leader and a government adviser, was arrested on 13 August 2024. He subsequently faced investigations and allegations relating to foreign currency, bank financing, wealth accumulation, securities activity and the deaths of students during the political unrest; these matters should be treated as allegations unless established by final court decisions. Financial and operating pressures affected the wider group. Reports described unpaid wages, worker protests, reduced orders and difficulty obtaining banking support. In September 2024 the High Court directed that a receiver be appointed to supervise BEXIMCO institutions and assets. Ruhul Amin, an executive director of Bangladesh Bank, was identified as the receiver in the reference material. The receivership was presented as a mechanism to preserve operations, protect employees and manage assets, not necessarily as an order to shut the group down. Further appellate proceedings followed, and the legal position remained subject to review. By December 2024, BEXIMCO had reportedly eliminated approximately 30,000 jobs, representing a substantial reduction from its earlier global workforce. The group also reported a Tk 1.13 billion loss for the July–September 2024 quarter according to the cited source. Since court supervision, ownership, management and the financial condition of individual subsidiaries may change independently, a current filing-based review is required before describing BEXIMCO as fully active, insolvent or defunct.

1. 2024Receiver appointed amid financial distress

   Bangladesh courts direct the appointment of a receiver to oversee BEXIMCO institutions and assets.

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2. 2023Teesta Solar is inaugurated

   BEXIMCO Group inaugurates the 200-megawatt Teesta Solar project.

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3. 2022Teesta Solar begins grid supply

   The Teesta Solar facility begins supplying electricity to Bangladesh's national grid.

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4. 2021Akash introduces personal video recording

   Akash Digital TV adds personal video recording capability for Bangladeshi customers.

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5. 2019RealVU DTH is relaunched as Akash DTH

   Beximco Communications relaunches its satellite television operation under the Akash brand using Bangladesh's national satellite infrastructure.

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6. 2010Expansion into major Bangladeshi businesses

   BEXIMCO acquires stakes in businesses including IFIC Bank and Unique Hotels and Resorts.

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7. 2009Shinepukur Ceramics opens Moscow showroom

   The ceramics subsidiary opens a showroom in Moscow, extending the group's international commercial presence.

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8. 2005Beximco Pharmaceuticals lists in London

   Beximco Pharmaceuticals becomes the first Bangladeshi company to list on the London Stock Exchange's Alternative Investment Market.

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9. 1972BEXIMCO is founded

   A. S. F. Rahman and Salman F. Rahman establish Bangladesh Export Import Company Limited after the country's independence.

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A diversified Bangladeshi industrial and investment group built around export manufacturing, pharmaceuticals, infrastructure, energy and consumer-facing businesses.

• Beximco PharmaceuticalsPharmaceuticals

  Beximco's pharmaceutical business develops and manufactures medicines for domestic and export markets. It is one of the group's most internationally visible companies and became the first Bangladeshi company to list on the London Stock Exchange's Alternative Investment Market in 2005.

• YellowFashion retail

  Yellow is BEXIMCO's apparel and fashion retail brand. It opened an overseas outlet in Karachi and subsequently expanded across cities in Bangladesh and Pakistan, giving the group a consumer-facing presence alongside its industrial businesses.

• Shinepukur CeramicsCeramics

  Shinepukur Ceramics manufactures ceramic products and has served domestic and export markets. Its international development included the opening of a Moscow showroom in 2009, reflecting BEXIMCO's effort to build overseas distribution and brand visibility.

• Akash Digital TVSatellite television2019

  Akash Digital TV is BEXIMCO Communications' direct-to-home satellite television service in Bangladesh. It evolved from RealVU DTH, relaunched in 2019, uses the Bangladesh-1 satellite and provides multichannel television, HD support and personal video recording. The service also developed the Akash Go portable viewing proposition.

• Teesta Solar LimitedRenewable energy2022

  Teesta Solar Limited operates a reported 200-megawatt solar project in northern Bangladesh. The facility uses approximately 520,000 solar panels installed across about 600 acres and began supplying power to the national grid in December 2022.

• BEXIMCO Textiles and ApparelTextiles

  Textiles and apparel form a core manufacturing and export activity within the group. The business supports BEXIMCO's international supply relationships and also provides the industrial base for consumer fashion operations such as Yellow.

• Personal Protective EquipmentProtective equipment

  BEXIMCO has operated in personal protective equipment as part of its wider manufacturing portfolio. The activity extends the group's textile and industrial capabilities into protective products for domestic and international markets.

• 2021Labour Welfare Fund contribution

  Bangladesh

  BEXIMCO, Robi and Meghna Petroleum jointly donated Tk 6.93 crore to a labour welfare fund supporting workers and families affected by accidental deaths, injuries, incurable diseases and education costs.

  Outcome. The contribution was directed toward formal and informal-sector worker welfare.

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• 2019Akash DTH relaunch

  Bangladesh

  BEXIMCO relaunched its satellite television operation under the Akash DTH name after the earlier RealVU service encountered technical and financial difficulties.

  Outcome. Akash became a national direct-to-home television service using Bangladesh-1 satellite capacity.

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• 2024Akash expands into portable viewingStrategy

  Consumer viewing habits were shifting from fixed television connections toward mobile and on-demand access.

  What changed. Akash Digital TV partnered with Tata Play to launch Akash Go.

  Aftermath. The partnership extended the satellite television proposition to portable viewing through an application.

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• 2022Teesta Solar begins commercial grid supplyProduct launch

  BEXIMCO expanded from conventional industrial activities into utility-scale renewable generation.

  What changed. Teesta Solar Limited began supplying electricity to Bangladesh's national grid.

  Aftermath. The 200-megawatt project was formally inaugurated in 2023.

  Source
• 2019Akash DTH relaunches satellite television serviceProduct launch

  The earlier RealVU DTH operation had experienced technical and financial difficulties and had paused service.

  What changed. Beximco Communications returned to the market under the Akash DTH brand.

  Aftermath. The service resumed nationwide satellite television operations and later added recording and mobile-viewing features.

  Source
• 2005Beximco Pharmaceuticals pursues a London listingStrategy

  The group sought greater international capital-market visibility for its pharmaceutical business.

  What changed. Beximco Pharmaceuticals listed on the London Stock Exchange's Alternative Investment Market.

  Aftermath. The transaction made it the first Bangladeshi company to list on that market.

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• 2024Arrest and investigations involving Salman F. RahmanControversy

  Salman F. Rahman was arrested in August 2024 amid investigations and allegations involving foreign currency, bank loans, wealth accumulation, securities activity and alleged responsibility for deaths during student-led political unrest. The allegations should not be treated as final findings without authoritative court outcomes.

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• 2024Court-ordered receivership and financial distressControversy

  BEXIMCO faced court-ordered oversight after reports of financial instability, unpaid wages, worker protests and difficulty accessing banking support. The appointment of a receiver became the subject of subsequent appellate proceedings.

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• 2024Bangladesh High Court orders oversight of BEXIMCO institutions

  The High Court directed the appointment of a receiver to oversee BEXIMCO institutions and assets amid financial instability. Subsequent proceedings considered the continuation of that arrangement.

  RegulationOther
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• 2024BEXIMCO reports major workforce reductions

  The group reportedly laid off approximately 30,000 employees in December 2024, citing a shortage of orders and inadequate banking support.

  Other
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• 2024Akash Digital TV partners with Tata Play for Akash Go

  Akash Digital TV partnered with Tata Play to introduce Akash Go, a portable viewing application for customers.

  CampaignProduct launch
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• 2022Teesta Solar project begins supplying Bangladesh's grid

  The Teesta Solar project began supplying electricity to the national grid in December 2022 before its formal inauguration in 2023.

  Product launchOther
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• 2005Beximco Pharmaceuticals enters London's Alternative Investment Market

  Beximco Pharmaceuticals became the first Bangladeshi company to list on the London Stock Exchange's Alternative Investment Market.

  Other
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1. BEXIMCO