53 organisations receive ICMAB best corporate awards

The Institute of Cost and Management Accountants of Bangladesh (ICMAB) has awarded 46 listed companies, two non-listed government banks, one non-listed specialised financial institution, and four non-government organisations (NGOs) for good corporate performance in 2019.

Commerce Minister Tipu Munshi, as the chief guest of the event, handed over the awards to the winners at a city hotel on Thursday evening.

The annual Best Corporate Award, which the ICMAB started in 2007, is given based on the review of the contestant entities’ corporate governance and other qualitative and quantitative information published in respective annual reports, reads a press release.

In the state-owned commercial bank category, Rupali Bank won the gold award, while Sonali Bank and Agrani Bank jointly won the silver award.

BRAC Bank won the gold award in the private commercial bank category, Eastern Bank won silver and Dutch-Bangla Bank won the bronze award.

Islami Bank Bangladesh won the gold award in the private commercial bank (Islamic operation) category, while Shahjalal Islami Bank took the silver award. Social Islami Bank and First Security Islami Bank jointly won the bronze award.

In non-bank financial institution category, IDLC Finance Limited won gold award, IPDC Finance Limited got the silver award, while Infrastructure Development Company Limited won the bronze award.

Green Delta Insurance Company bagged the gold ward in general insurance category. Nitol Insurance Co and Reliance Insurance jointly won the silver wards, while Provati Insurance Company Limited won the bronze award.

The life insurance category saw Pragati Life Insurance Co and Popular Life Insurance Co jointly take the gold award, while Meghna Life Insurance Co took the silver award. The bronze award went to Sandhani Life Insurance Company.

In pharmaceuticals, gold went to Square Pharmaceuticals, silver went to Renata Limited and bronze jointly went to Beximco Pharmaceuticals and Orion Pharma.

Premier Cement Mills Limited topped the cement category with the gold award, while MI Cement Factory got the silver award. The bronze award went to LafargeHolcim Bangladesh.

In textile manufacturing, gold went to Paramount Textile, silver to Square Textile, and bronze to Envoy Textiles Limited.

British American Tobacco Bangladesh won the gold award in the MNC category, followed by Linde Bangladesh Limited and Marico Bangladesh in silver. Bronze went to Berger Paints Bangladesh.

In others manufacturing category, Bangladesh Steel Re-Rolling Mills won the gold award, RAK Ceramics (Bangladesh) got the silver award, and BBS Cables got the bronze award.

Summit Power bagged the gold award in power generation category, Dhaka Electric Supply Company won the silver award, and Doreen Power Generations and Systems and Baraka Power jointly got the bronze award.

In NGO category, gold went to BRAC, silver to Social Development Foundation (SDF) bronze jointly to Ghashful and Dhaka Ahsania Mission.

Golden Harvest Agro Industries got the gold award in agro and food processing category, Olympic Industries received the silver award, National Tea Company bagged the bronze award.

In trading and assembly category, Padma Oil Company and Meghna Petroleum were joint winners of the gold award, Information Technology Consultants won silver, and Navana CNG won the bronze award.

Over 100 contestant entities were considered under the 15 categories. The jury board consisted of former Bangladesh Bank Governor Dr Atiur Rahman, BUET Vice Chancellor Dr Satya Prasad Majumder, and veteran banker Anis A Khan.

ICMAB President Md Jasim Uddin Akond presided over the event.

Bangladesh Securities and Exchange Commission (BSEC) Chairman Professor Shibli Rubayat-Ul-Islam, Commerce Secretary Dr Md Jafar Uddin and South Asian Federation of Accountants (SAFA) President AKM Delwer Hussain also spoke on the occasion as special guests.

ICMAB Corporate Award Committee Chairman Md Abdul Aziz, Vice Chairman Md Mamunur Rashid and ICMAB Secretary Md Munirul Islam, also spoke at the event.