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শনিবার, ২৩ অক্টোবর ২০২১, ০৯:২৪ অপরাহ্ন

Aziz Mohammad Bhai want to close his business from Bangladesh

Aziz Mohammad Bhai want to close his business from Bangladesh

Aziz Muhammad Bhai & his Family
Aziz Muhammad Bhai & his Family

Aziz Mohammad Bhai and his family want to close the business from Bangladesh.
Aziz Mohammad Bhai and his family have been trying to wrap up business in Bangladesh since before the Corona epidemic. They are the proprietors of the listed companies Olympic Industries and MB Pharmaceuticals Limited. For this they have also contacted the domestic and foreign buyers. But the price offered by the buyers did not match their expectations.

As a result, the process of selling offers and bargaining with new buyers is underway. Members of the ‘Mohammad Bhai’ family have recently offered to sell Olympic Industries and MB Pharmaceuticals to a leading corporate group in the country. A bank and several asset management companies are negotiating on their behalf to sell the shares to buyers. This information has been known from various sources including multiple parties associated with the industry group.

The current market capitalization of Olympic Industries Limited, listed on the Dhaka and Chittagong Stock Exchanges, is Tk 3,362 crore. MB Pharmaceuticals Limited has a market capitalization of Tk 102 crore. The lion’s share of both companies is owned by the Mohammad Bhai family. Of this, the current market value of the shares owned by Aziz Mohammad Bhai alone is more than Tk 550 crore.

According to sources close to the Aziz Mohammad Bhai family, the Mohammad Bhai family has businesses in various countries, including Thailand, Malaysia, Hong Kong and Singapore. The family is in an image crisis due to stock market scandals, murders, drug trafficking and other controversies. In this situation, the family members are trying to build a permanent home in Thailand by selling other assets including the company in Bangladesh.

A general holiday was declared in the country on March 26 last year to prevent corona infection. The day before, all the members of the ‘Mohammad Bhai’ family left the country together for Thailand.
Nazimuddin, company secretary of Olympic Industries Limited, told the media that rumors of buying Cadbury’s Olympic shares in the United Kingdom had reached our ears. We asked the company’s board about this. But they have dismissed it as a rumor. At the moment we do not have any information about the sale of the company. Recently a family member came to the country. He comes to the company occasionally.

Aziz Mohammad Bhai is a very popular character in the country’s industrial as well as film world. He has been hailed as an entrepreneur of successful businesses like Olympic Industries and has been the subject of controversy at various events in the film industry. Aziz Mohammad Bhai’s name is still being discussed in connection with the deaths of Salman Shah and Sohail Chowdhury. Besides, his name was also involved in the stock market scandal in 1996.

Aziz Mohammad Bhai is currently the Director of Olympic Industries. His uncle Mubarak Ali is the managing director. Mubarak Ali’s son Munir Ali is also the board director of the Olympics. Mubarak Ali’s grandson Tanvir Ali is also in the same charge. Although he has not been in the country for a long time, Aziz Mohammad Bhai himself is the chairman of MB Pharmaceuticals Limited. His wife Nawrin Aziz Mohammad Bhai is the managing director of the company.

Besides, Nurjahan Huda and Sakina Mirali, two daughters of founder Mohammad Bhai, are also on the board of directors of the company. He is also a director on the boards of Manticor Engineering, Manticor Technology, MCO Holding, Bengal Petroleum and Oxus Enterprise. In the absence of Aziz Mohammad Bhai, his wife Nawrin Aziz Mohammad Bhai is said to be in charge of all the business.

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