Confidence Group Explained

Type:Private (except Cement)
Industry:Construction, Manufacturing Engineering
Hq Location City:Dhaka
Hq Location Country:Bangladesh
Revenue:US$ 100 million
BDT 7.5 billion
In fiscal year 2010-2011

Confidence Group of Companies Limited (also referred to as Confidence Group) is a Bangladeshi company, involved in manufacturing mid-tech manufacturing engineering products.[1] [2] The conglomerate commenced its operation in 1991 with cement manufacture, and is involved with power generation and the manufacture of Spun Pre-stressed Concrete (SPC) poles.[3] As of 2017, the conglomerate claims to consist of 8 operational business entities.[4]

Rezaul Karim is the Chairman of Confidence Group.[5] Imran Karim is the vice-chairman of Confidence Group.[6]

History

Confidence Group was established in 1991 with the founding of Confidence Cement Limited by Kazi Shahidul Islam, Khurshid Anwar, Rezaul Karim, and Rupam Kishore Barua.[7] Confidence Cement is listed on the Dhaka Stock Exchange.[8]

Confidence Group established Confidence Power in 2000.

In 2002, Confidence Group established a partnership with Asian Paints to form Asian Paints Bangladesh Limited (APBL).[9] [10]

Confidence Group signed an agreement with Bangladesh Power Development Board in 2011 to build an oil based powerplant in Chittagong in partnership with Rurelec PLC Limited and Energypac Power Generation Limited.[11]

During the COVID-19 pandemic in Bangladesh, Bangladesh Independent Power Producers Association and Confidence Group distributed 2000 protective clothing to Bangladesh Police, Bangabandhu Sheikh Mujib Medical University, Kuwait Bangladesh Friendship Government Hospital, and Bangladesh Fire Service and Civil Defence.[12] It donated 2 million BDT worth of testing kits in partnership with Shakib Al Hasan Foundation.[13] Confidence Group received permission to build a 660 MW natural gas powerplant in Chittagong.[14] Confidence Infrastructure Limited established a geotextile plant in Narayanganj District in June 2022. Former chairman of Confidence Group, Shamsul Alam, died in December 2022 from cancer.[15]

In February 2023, Confidence Group signed a banking agreement with BRAC Bank Limited.[16] Confidence Cement issued preference share worth 1.5 billion BDT.[17]

Subsidiaries

Notes and References

  1. News: Local cement companies thriving over multinationals . 13 November 2018 . . 2A Media Limited . Business . Kazi Anis Ahmed . 11 November 2018.
  2. Web site: 2022-07-24 . Newsweek highlights achievements of Bangladesh . 2023-05-07 . . en.
  3. Web site: Nessa. Jebun. 2016. Employee satisfaction and its relationship with employee turnover rate at Confidence Group. en.
  4. News: Construction solution provider Axis begins operation. November 19, 2017. Dhaka Tribune. November 27, 2017.
  5. Web site: Confidence Infrastructure inaugurates new geotextiles plant in Narayanganj . 2023-05-07 . . 4 June 2022 . en.
  6. Web site: 2023-02-13 . Brac Bank signs Employee Banking agreement with Confidence Group . 2023-05-07 . . en.
  7. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.
  8. Web site: 2023-02-19 . Confidence Cement to issue preference shares worth Tk150cr . 2023-05-07 . . en.
  9. Web site: APBL . The official website of Asian Paints International. . 2012-07-08 . https://web.archive.org/web/20120615013920/http://www.asianpaints.com/international_presence/ip_bangladesh.aspx . 2012-06-15 . dead .
  10. Web site: About Asian Paints - Residential & Commercial Painting Services . 2023-05-07 . www.asianpaints.com.bd.
  11. Web site: 2011-08-26 . PDB signs deals for three power plants . 2023-05-07 . . en.
  12. Web site: 2020-03-23 . Confidence Group, BIPPA distribute 4000 PPE to police and medical staff . 2023-05-07 . The Daily Star . en.
  13. Web site: 2020-04-04 . Shakib's foundation with Confidence Group to donate Tk20lakh to combat Covid-19 . 2023-05-07 . The Business Standard . en.
  14. Web site: Confidence group gets govt nod for 660MW power plant . 2023-05-07 . New Age . en.
  15. Web site: 2022-12-09 . Shamsul Alam Bir Uttam passes away . 2023-05-07 . The Daily Star . en.
  16. Web site: 2023-02-15 . Confidence Group to avail Brac Bank services . 2023-05-07 . The Daily Star . en.
  17. Web site: 2023-02-19 . Confidence Cement to issue preference shares worth Tk150cr . 2023-05-07 . The Business Standard . en.
  18. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.
  19. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.
  20. Web site: Confidence Infrastructure Ltd. . 2023-05-07 . en-US.
  21. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.
  22. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.
  23. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.
  24. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.
  25. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.
  26. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.
  27. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.
  28. Web site: Confidence Group . 2023-05-07 . confidencegroup.com.bd.

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