Aziz Khan (businessman)

Muhammed Aziz Khan
Born 1955 (age 60–61)
Dhaka, Bangladesh
Residence Dhaka, Bangladesh & Singapore
Alma mater Institute of Business Administration, University of Dhaka
Occupation Chairman, Summit Group
Known for Founder & chairman, Summit Group
Spouse(s) Anjuman Aziz Khan
Children 3 daughters

Muhammed Aziz Khan (born 1955) is a Bangladeshi businessman, founder and chairman of the Summit Group, one of the largest conglomerates in Bangladesh, who's power projects generate nearly 20% of Bangladesh's electricity.[1][2][3] Khan has led Summit Group from starting as Bangladesh's first private sector power producer to a diversified group with investments across power, energy trading, port, telecommunications, hospitality and real estate.[3]

A renowned businessmen in Bangladesh and abroad, Khan has led Summit in building partnerships with multinational institutions such as GE, IFC and Wartsila.[4] while securing billions of dollars in financing for infrastructure projects within Bangladesh.[5] Khan has recently pledged to invest another $3 billion into Bangladesh's energy sector.[6]

Khan, his wife and three family members have named by the ICIJ as operating six offshore companies in the British Virgin Islands using a Singapore address.

Early life

Khan's first steps as an entrepreneur were taken with a friend, whose father's death thrust him into the family import business. The 18-year-old Khan borrowed Tk 30,000 from his father to partner in the venture in 1973.[7]

He received an MBA in 1980 from the Institute of Business Administration, University of Dhaka (IBA).[8]

Career

Under the leadership of Khan, Summit Group set up the country's first independent power plant in 1998, Khulna Power Company Limited.[9]

Summit also set up the country’s first private off-dock facility, Ocean Containers Limited, now known as Summit Alliance Ports Limited which is currently handling about 30% of the country’s export and about 10% of the country’s import volume.

Summit Communications Ltd is the first company to lay nationwide telecommunication transmission network laying fiber optic to 70% of Bangladesh, and connecting Bangladesh to India and Myanmar through terrestrial fiber optics.[9]

IPCO Ltd., a hospitality and real estate company, is building one five star, one three star hotels, convention hall and 1000 high class shops beside the International Airport of Dhaka.

In 2011, Khan led Summit Group in establishing a historic joint venture with GE to build plants generating 327 megawatts of electricity for Bangladesh. This joint venture secured funding of $327 million, including $112 million from the World Bank.[10]

In 2012, Khan led Summit Group in establishing another historic joint venture with China Energy Group, the largest government-owned Chinese company, to build various power projects, including a 341 megawatt power plant with a $220 million deal for China Energy Group to provide construction and engineering services.[11]

In 2015, Khan was elected president of the Bangladesh Association of Publicly Listed Companies.[12] He also led Summit Group in winning a deal to build Bangladesh's first high-tech business park, agreeing to invest $207 million to build part of the park across its 232-acre land in Kaliakor, Bangladesh.[13]

In April 2016, it was reported that Khan, his wife Anjuman Aziz Khan, daughter Ayesha Aziz Khan, brother Zafar Umayed Khan and nephew Faisal Karim Khan had been named in the Panama Papers as operating six offshore companies, mostly in the British Virgin Islands using a Singapore address.[14][15] The National Board of Revenue (NBR) has started an investigation into the money laundering and tax evasion histories of 25 Bangladeshi politicians and businessmen, including Khan; and the Anti Corruption Commission Bangladesh (ACC) has created a three-member committee to investigate.[16] However, the Bangladesh-based British journalist David Bergman has clarified that the only Bangladeshi people linked to offshore companies as released by the ICIJ relate to an earlier 2013 leak of information involving the British Virgin Islands.[17]

In May 2016, Aziz Khan was appointed Honorary Consul General of Finland in Bangladesh due to his long-standing business relationship with Finland.[18] In particular, Aziz Khan has led Summit Group in building close trade relationships with leading Finnish company Wartsila, who has supplied machinery and equipment to many of the Summit Group's power project.[19]

Also in 2016, Khan led Summit Group in securing $190 million in a consortium led by Standard Chartered to finance a $335 megawatt power plant.[20] Khan also helped arranged the largest ever direct loan given to a Bangladeshi company in 2016 for $210 million by Asian Development Bank, International Finance Corporation and Islamic Development Bank.[21] Khan has also indicated that Summit may list on the Singapore Stock Exchange, making it the first Bangladeshi company to do so.[3]

In September 2016, Khan announced that Summit Group has established a Singaporean company that it will publicly list in Singapore and help raise $2.5 billion to invest in Bangladesh projects such as a liquified natural gas terminal and additional power capacity.[22][23]

Positions

Recognition

Personal life

Khan is married to Anjuman Aziz Khan and they have three daughters, Ayesha, Adeeba and Azeeza.[1]

References

  1. 1 2 "Muhammed Aziz Khan". Summitgroupbd.com. Retrieved 2016-04-08.
  2. ↑ "Muhammed Aziz Khan | International Economic Forum of the Americas". Forum-americas.org. Retrieved 2016-04-08.
  3. 1 2 3 "Summit plans to raise funds from Singapore bourse". The Daily Star. 15 March 2016. Retrieved 26 June 2016.
  4. ↑ Summit Group (2015-09-20), Video Profile: Muhammed Aziz Khan, Chairman, Summit, retrieved 2016-04-18
  5. ↑ Khan, Sharier (20 December 2010). "Summit assured of $2b financing". The Daily Star. Retrieved 26 June 2016.
  6. ↑ "Grab business opportunities in Bangladesh". The Daily Star. UNB. 25 January 2016. Retrieved 26 June 2016.
  7. ↑ "The infrastructure trailblazer". The Daily Star. Retrieved 26 June 2016.
  8. ↑ "Introducing the Directors". Summit Power. Retrieved 9 April 2016.
  9. 1 2 "Muhammed Aziz Khan | International Economic Forum of the Americas". forum-americas.org. Retrieved 2016-04-18.
  10. ↑ "Summit Power gets finance for GE joint venture". Reuters. 30 January 2011. Retrieved 26 June 2016.
  11. ↑ "Summit inks energy deal with Chinese company". The Daily Star. Retrieved 26 June 2016.
  12. 1 2 "Aziz Khan elected BAPLC president". Daily Sun. 18 December 2015. Retrieved 2016-04-18.
  13. ↑ "Bangladesh inks deal to build high-tech business park". The Economic Times. Bennett, Coleman & Co. Ltd. 29 June 2015. Retrieved 26 June 2016.
  14. ↑ "Bangladeshis not outside Panama Papers". The Daily Observer. Retrieved 2016-04-08.
  15. ↑ "25 Bangladeshis in money-laundering list". Newsbangladesh.com. 2016-04-06. Retrieved 2016-04-20.
  16. ↑ "NBR probing into Bangladeshi names on Panama Papers". Banglanews24.com. Retrieved 2016-04-20.
  17. ↑ Bergman, David (2016-04-08). "Bangladesh Politico: ICIJ 2013 leak database". Bangladeshpolitico.blogspot.co.uk. Retrieved 2016-04-20.
  18. ↑ "Aziz Khan as honorary consul general of Finland in Bangladesh". BanglaNews24. Retrieved 26 June 2016.
  19. ↑ "Finland opens honorary consulate general in Bangladesh". bdnews24.com. Retrieved 26 June 2016.
  20. ↑ "RSS Nieuws - BIO-Invest".
  21. ↑ "Summit eyes listing with S'pore stock exchange". Share Bazar BD 24. 13 March 2016. Retrieved 26 June 2016.
  22. ↑ http://www.bloomberg.com/news/articles/2016-09-07/bangladesh-s-top-utility-to-invest-2-5-billion-in-lng-power
  23. ↑ http://www.thedailystar.net/frontpage/summit-group-raise-25b-1282564
  24. ↑ "Empowering Bangladesh we can and we will : Summit Power Limited's 2015 Annual Report" (PDF). 123.49.46.158. Retrieved 2016-04-20.
  25. ↑ "Prothom Alo Trust | প্রচ্ছদ". trust.prothom-alo.com. Retrieved 2016-04-18.
  26. ↑ "Energy Companies Association Opens for Business". International Law Office. 29 October 2001. Retrieved 26 June 2016.
  27. ↑ "Summit's Aziz Khan becomes Finland's honorary consul general". The Daily Star. 2 June 2016. Retrieved 26 June 2016.
  28. ↑ "National Housing Finance and Investments Limited" (PDF). National Housing Finance and Investments Limited Annual Report 2013. Retrieved 26 June 2016.
  29. ↑ "Laurels for Brilliance In Business". The Daily Star. Retrieved 2016-04-18.
This article is issued from Wikipedia - version of the 11/17/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.