Chairman & Managing Director's Note

MESSAGE FROM THE CHAIRMAN & MANAGING DIRECTOR

To be the best brand committed to excellence in all our endeavors

– Moinuddin Hasan Rashid, Chairman & Managing Director

United Group, a multi-disciplinary business house, has proven itself to be a dynamic and progressive enterprise, positioning itself as one of the leading business houses of the country. We are now working to achieve being the best brand committed to excellence in all our endeavors – our long-term management vision. This calls for us to create a robust platform capable of delivering consistent growth under any condition.

By the Grace of Almighty, we are certainly privileged to have received the strongest of platforms as gifts from our founding directors. They have presented us with a healthy financial base, strong asset backing, a company without debt and liabilities, a timely and forward-thinking succession planning and lastly, an undeniable reputation in the market.

We have been concentrating on implementing succession planning and restructuring the business units for the last 4-5 years. Alongside asset and capital, development of human resource are crucial to achieve the vision that we have set for the company. In fact, we believe that our effective human resource is the next big ingredient to drive us to tomorrow. The Group presently employs around 7,800 individuals where female representation stands at around 20% and more than 50% of our employees are professionals. Our structure is such that the top line executives are experienced professionals fostering youth leadership as the middle and bottom lines are the young leaders of tomorrow. The average age of our employee stands at around 35 years where most of these young professionals have been working with us for around 7-8 years already! We have set a target of creating 15,000 value added employment out of which we hope to achieve the 10,000 employment by the end of 2019, owing to the number of ongoing construction projects that are scheduled to come into operation by that time. In 2018 alone, we have invested about Taka 30 lacs for human resource development in the form of training both home and abroad. The management of United is working hard to give the best working environment and a healthy culture that encourages bonding and interaction among the employees, increasing their comfort level.

United has built a strong repute of thinking out of the box as we continue to present the nation with innovative solutions to cater to the socio-infrastructural needs of the country. From the first private sector power plant in the country to the first private land port, we have presented the nation with many of its first of a kind projects.

Establishing a 200 MW HFO fired power plant with complete fuel storage and handling facilities in a mere 6 months has been so far one of the boldest of our projects. The project earned the recognition of being the Best Power Producer in 2018 at the National Energy & Power Week. At present, United’s power plant is supplying 900 MW to the national grid.

We are blessed with a series of upcoming projects- Power Projects of 615 MW, IPCO, Shipping, Tank Terminal, United City in Satarkul, Unimart expansion and many more in the pipeline. With 615 MW of power generation facilities under construction, 600 MW more in the pipeline and a subsidiary having the largest market cap in fuel & power sector, we are well posed to retain commendable presence in the power sector. Most of our power assets are now debt-free and UPGDCL, the 1st commercial independent power plant of the Bangladesh has been listed. These steps will catapult United to the next level – to undertake bigger projects and create value for people of Bangladesh.

We have developed and structured an engineering, procurement and construction team which has the largest EPC Experience in Bangladesh. Our O&M team, United Engineering & Power Services Ltd. is committed to providing successful operation and maintenance services to all our power plants.

We set up the first true to sense tertiary level hospital with cardiac surgery facilities, radioactive oncology, nuclear medicine and cardiology equipment all under one roof in 2006. United Hospital, equipped with 500 beds and 11 state-of-the-art operation theatres, are staffed by the most esteemed doctors in their respective fields.

United International University is the 1st private university in Bangladesh which has disbursed USD 120,000 as research grant among its faculties for 31 different research project. Enrolling over 7000 students, UIU has recently made the move to its own campus at United City Satarkul sprawling across an area of 8 acres. 

United Securities Ltd., our venture into the capital market of Bangladesh to serve local & foreign investors, has made its place among the top 5 companies in terms of turnover within 6 months of its operation. We are committed to help strengthen the capital market, having already invested USD 142 million, with plans to invest more in the future.

United is focusing on improving the living standard in Bangladesh, particularly in Dhaka city, through investment in retail and real estate. Unimart Ltd., the largest hypermarket of the country, has set the precedence of the ultimate retail experience to its clients while Chef’s Table is the new food district in town introducing an incredible, versatile culinary experience and the most diversified cuisines under one roof for the first time in Bangladesh.

We have not limited our drive to improving standard of living through commercial ventures only. We want our employees to experience the same standards of living that we are endeavoring to develop. In this view, in addition to developing and constructing residential and commercial spaces, we are also developing an Executive Complex at United’s township project at United City to house our employees.

Our goal is to continue the path towards sustainable growth as we set our focus on Infrastructure, Real Estate and CSR. We will remain one of the foremost investors and developers in Bangladesh in the Infrastructure sector as the process of diversification continues, parallelly. We have set forth an investment target of USD 200 million over the next 3 years. We believe in greater good of mankind and as such have not forgotten the community around us. United Trust was formed in 2010 as the social welfare organ of the Group with a vision to serve socially disadvantageous population of our country. We believe United exists to serve United Trust and it is in this view United will be injecting the majority of its turnover to United Trust after meeting the above investment target.

We at United have a mission to remain committed to the socio-economic development of the country as we continue to enhance value for our stakeholders. We seek to deliver a better tomorrow as a socially responsible corporate entity through supporting community development activities; embodying the values of entrepreneurial leadership and integrity.

We are a business house of Trust.

 

Moinuddin Hasan Rashid

Chairman & Managing Director

United Enterprises & Co. Ltd.