Sikder Group

Sikder Group is a family-owned Bangladeshi business conglomerate. Zainul Haque Sikder founded the group in the early 1950s, and was its chairman at his death in 2021.[1] His sons, Rick Haque Sikder and Ron Haque Sikder, are directors of the Sikder Group.[2]

Sikder Group started as a textile and garment manufacturing company.[3] PowerPac Holdings, a sister concern of the Sikder group, got a contract to build a powerplant from Power Development Board in August 2011.[4] Its subsidiary PowerPac Ports Limited was given the government contract to operate two jetties in the Port of Mongla in 2016.[5] The same year PowerPac got approval from Bangladesh Economic Zones Authority to operate Mongla Economic Zone in Bagerhat.[6]

Sikder Group has also attracted attention from various law enforcement agencies around the world for having ties to criminal activities, including kidnapping, extortion, attempted murder and money laundering.[7]

Subsidiaries
  • Sikder Apparel[3]
  • Sikder Creation[3]
  • Sikder Fashion Wear[3]
  • Sikder Apparel Hosiery[3]
  • Sikder Classic Dyeing & Knitting[3]
  • Sikder Computerized Label[3]
  • Sikder Accessories[3]
  • Sikder Salt Industries[3]
  • Sikder Insurance Company Limited[8]
  • Sikder Real Estate Ltd.
  • PowerPac Holdings Ltd.
  • PowerPac Ports[5]
  • PowerPac Economic Zone (Pvt.) Ltd.[8]
  • PowerPac Petroleum Limited[8]
  • PowerPac Steel Mills Limited[8]
  • R&R Holdings[9][10]
  • R&R Aviation[11]
  • Zainul Haque Sikder Women's Medical College[12]
  • Multiplex Holdings Ltd.
  • Bangladesh Post (publication)[1]
  • Ajker Bangladesh Post (Bangla News portal)
  • Bangabandhu Tri Tower (Iconic Tower of Bangladesh)

Financial information

At the end of 2016, the company's liabilities included about 2,000 crore Bangladeshi taka ($253M as of 2016) spread among three banks.[13]

Alleged criminal activities

Court verdict proves us innocent say sikder-brothers.[14]

On 9 August 2021, ‘It was just misunderstanding’: Says police report on Sikder brother’s case, Police say the bankersExim Bank (Bangladesh) and the Sikder brothers have now become close friends.[15]

Court verdict proves us innocent say sikder-brothers.[16] Court verdict proves us innocent say sikder-brothers.[14] Expressing their deep gratitude for acquittal by court, Sikder Group directors Ron Haque Sikder and Dipu Haque Sikder in a statement said that the verdict proved they were innocent. “It has been mentioned in the final report of the police that it did not find any evidence against us”, said the statement signed by Ron Haque Sikder, also managing director of PowerPak Holdings Limited, a concern of Sikder Group It said: “For more than a year now, some news outlets have been spreading rumours about us, which is very unfortunate for our family. One thing we are suffering most today is that our father, the heroic freedom fighter Zainul Haque Sikder, could not see that his children were innocent. Coincidentally, we got the coveted court verdict on his birthday, perhaps because our father was blessing us from above”. On August 12, the Dhaka Metropolitan Court acquitted the brothers in the case filed by Sirajul Islam. The lawsuit might have been triggered by a business misunderstanding “We reached an agreement on August 7. In the agreement, we both agreed that since the case filed by Sirajul Islam was against the state vs. Ron Haque Sikder and Dipu Haq Sikder, we would accept the verdict of the wise court and no one would appeal against the verdict,” the statement said. “Exim Bank has a long-standing relationship with the Sikder family. Our business activities and good relations will continue as before and will continue to grow,” the brothers said.

In 2010, the US State of California sued the Group's carwash business to the tune of $6.6 million for allegedly exploiting workers.[17]

On 19 May 2020, Exim Bank (Bangladesh) filed a case against the Group at Gulshan Police Station for allegedly shooting at and abducting the managing director and associate managing director of the bank.[18] Following this filing, the main accused in the case, Ron Haque Sikder and Dipu Haque Sikder, fled the country in an air ambulance disguised as patients.[19]

Sikder Group welcomes court verdict that acquits Ron Sikder and Dipu Sikder.[20]

A Dhaka court yesterday cleared Ron Haque Sikder, managing director of Sikder Group, and his brother, of the charges of abducting, torturing, and opening fire on two Exim Bank officials.

Dhaka Metropolitan Magistrate Rajesh Chowdhury passed the order after complainant of the case Exim Bank Director Lt Col (retd) Serajul Islam told the court that he had no objection if the court accepted a police final report.[20]

See also

References
  1. "Industrialist Zainul Haque Sikder dies". New Age. 10 February 2021.
  2. "Zaki wins Sikder Group Independence Day Cup Golf Tournament". The New Nation. UNB. 26 March 2017. Archived from the original on 28 March 2021.
  3. "About Us". sikdergroup.com. Sikder Group of Companies Ltd. Archived from the original on 30 December 2017. Retrieved 17 December 2017.
  4. "PDB signs deals for three power plants". The Daily Star. 26 August 2011. Retrieved 17 December 2017.
  5. "Sikder Group to partner govt in bringing Mongla Port up to speed". Prothom Alo. Retrieved 17 December 2017.
  6. "PowerPac to get licence for Mongla Economic Zone". The Daily Star. 24 February 2016. Retrieved 17 December 2017.
  7. "Sikder family amasses wealth in Las Vegas, other big cities of the world". Prothom Alo. 9 June 2020.
  8. Muntasir, Belal (14 October 2019). "5 firms of Sikder Group get land in Mongla Economic Zone". Dhaka Tribune.
  9. "Marriott hotel construction in Bandarban against laws". The Daily Star. 17 November 2020.
  10. "UN experts call for halt to contentious tourism resort in Bangladesh". Office of the High Commissioner for Human Rights. United Nations. 9 February 2021.
  11. Abdullah, Mamun (29 May 2020). "The dramatic escape by Sikder brothers". Dhaka Tribune.
  12. "Females' dorm remains unused for lack of gas, water". The Daily Star. 24 July 2010. Retrieved 17 December 2017.
  13. Rahman, Sajjadur (2016-12-23). "Bank directors are good borrowers". The Daily Star. Retrieved 2020-06-29.
  14. "Court verdict proves us innocent say sikder-brothers". United News Of Bangladesh unb.com.bd. 17 August 2021.
  15. "' 'It was just misunderstanding': Says police report on Sikder brothers case". The Business Standard. 9 August 2021.
  16. "Attack on 2 Bankers: Dhaka court clears Sikder brothers of charges". The Daily Star. 13 August 2021.
  17. "Carwash owners sued by state for $6.6 million for allegedly exploiting workers". Los Angeles Times. 4 October 2010.
  18. "'I will shoot and cripple you for life' - Sikder Group MD threatens Exim Bank MD". Prothom Alo. 27 May 2020.
  19. "Sikder brothers escape to Thailand by air ambulance from legal charges at home". BDNews24.com. 29 May 2020.
  20. "Sikder Group welcomes court verdict that acquits Ron Sikder and Dipu Sikder". The Independent Bangladesh. 17 August 2021.
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