RAK Ceramics (Bangladesh) Limited is the country???s largest and sanitaryware brand. A private limited company, it was a UAE-Bangladesh joint venture project that came into being on November 26, 1998. It became a public limited company on June 10, 2008. The ownership of RAK Ceramics (Bangladesh) Limited comprises 75.59% held by the sponsors (71.67% by RAK Ceramics PJSC, UAE and 3.92% by local investor Mr. S.A.K. Ekramuzzaman), and the remaining 24.41% was heldby the general public, including institutional investors as on December 31, 2016.
According to its annual report in 2016, it had an annual turnover of over BDT 5,661.41 million in 2016. The business conglomerate has a number of sister concerns including RAK Paints Limited, RAK Consumer Products Ltd, RAK Capital Limited, RAK Pharmaceuticals (Pvt.) Ltd, Julphar Bangladesh Ltd, Rakeen Development Company (BD) Ltd, Star Ceramics Limited, Star Porcelain Limited, Star Electro Civil Tech Ltd, Automatic Bricks and Ceramics Pvt. Ltd, Mohammed Trading, Mohammed Food and Allied (Pvt.) Ltd. (Pizza Inn), Palli Properties Pvt. Ltd, Speed Way International Pvt. Ltd, SM Spinning Mills Ltd and Star Electro Civil Tech Ltd, S.M. Knitwears Ltd, S.M. Spinning Mills Limited, S.M. Carton and Accessories Ltd, S.M. Style Ltd. [SMARTEX], S.M. Abashon Ltd, Ashaloy Housing and Developer Ltd, Golden Jute Industries Ltd and Pride Jute Mills Ltd, Shyamol Bangla Media (Pvt.) Ltd. (Bangla Vision), Marina Property (BD) Limited, Al-Zaabi Materials and Dubai Steel Mills High-tech Steel, among others, are affiliated business ventures of the company.
Syed AK Anwaruzzaman is Managing Director of Bangla Vision. He is also one of the directors of Bangla Vision television channel. He is also the Chief Executive Officer of M/S Ekramuzzaman. SAK Ekramuzzaman started with the trading business in the United Arab Emirates in 1985. His major affiliations are joint venture enterprises with UAE. He is the Managing Director of RAK Ceramics (BD) Ltd, RAK-Mosfly (Bangladesh) Pvt. Ltd. and, director of Julphar Bangladesh Ltd. A joint venture enterprise with Star Group is Rakeen Development.
In May 2019, the Anti-Corruption Commission in Bangladesh has filed a money laundering case against four business people, including former prime BNP chief Khaleda Zia???s former adviser, owner of private television Ntv and businessman Mosaddak Ali Falu and Bangla Vision director SAK Ekramuzzaman, its managing Syed AK Anwaruzzaman, director of RAK Paints, and Md Amir Hossain, director of Star Ceramics for siphoning about Tk 1.84 billion to Dubai through offshore companies. Falu, Ekramuzzaman, Anowaruzzaman and Amir opened offshore companies???Al Madina International Limited, Three Star Limited, Development EEU in 2010???and smuggled out about Tk 1.84 billion earned in Bangladesh ???through corruption??? to the UAE, according to the ACC.
Sources
BDNews24, ???ACC sues Khaleda???s former aide Falu, Ekramuzzaman for money laundering???, May 13, 2019
RAC Ceramics, https://www.rakcerambd.com/about-company.php