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DBL Group to diversify business in non-traditional areas

Mr. Carl Doug McMillon president of Walmart visited DBL Group facilities along with other top senior executives.

Mr. Carl Doug McMillon president of Walmart visited DBL Group facilities along with other top senior executives.

Dulal Brothers Ltd (DBL) Group has moved to diversify its business especially in the non-traditional areas, facilitating reduction of the country’s dependency on import, its top official said.

Under its diversification programme, two separate subsidiary companies of the group are set to go for production in the middle of next year with initial investment worth about Tk 9.18 billion.

“We are planning to do something that Bangladesh is not doing now; such as different kinds of fabrics, imported fabrics and non-traditional business; it will help us to reduce dependency on import,”  M.A. Jabbar, Managing Director of the DBL Group, told the FE in an interview at its corporate head office in the city recently.

“This (business expansion) is not ‘business’ that we are doing; we see it as our responsibility to the society and an opportunity given by Allah to help the society, the country and the people around us,” Mr Jabbar said.

Of the two new companies, “DBL Ceramics Limited” will produce ceramic tiles.

“We will finance to the meteorological department of a university for research of the clay in different locations of Bangladesh so that we can use it for our ceramic tiles products,” the managing director said.

Initial investment for the ceramic company is Tk 600 crore (Tk 6 billion), Mr Jabbar said.

While other company named “Colourcity Limited” in the field of fabric and yarn dying sector will be launched with initial investment worth US$ 41 million (about Tk 3.18 billion), he said.

The companies are set to for production in the middle of the next year, he expected.

Mr Jabbar further said that a subsidiary of the group Matin Spinning Mills recently started its trading at the stock exchanges; “This is our first company (included in the stock market); more companies of DBL Group will come to the capital market in the future InshaAllah.”

In a question, he said that still, 80 per cent of the DBL Group’s business is in the readymade garment (RMG) sector; most of its expansion is also in RMG. “We are diversifying the business in textile. Diversification means we are investing in the backward linkage like knitting.”

“At this moment, we have 15,700 team members; now, we are going for adding around 15,000 more in the next three years; this is how the company is expanding,” the MD said.

He termed the expansion as the mark of sustainable development being happened thanks to mainly the group’s CSR activities and other sustainable projects.

The future young leaders of the group are getting prepared in-house to take over charges of those factories, Mr Jabbar said, adding that “For career purpose of our present leaders and professionals, we have to diversify (business) and we have to accommodate (them).”

The sustainable growth will definitely help the country to reduce its dependency on import and create more jobs, he said.

The group is encouraging the innovative leaders and fresh graduates, and giving them opportunity to think how they can add more value to the company, the society and the country, Mr Jabbar said.

Report: Mohammad Ali
Source: Financial Express

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