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Singer Bangladesh Ltd. Singer Bangladesh Limited is a subsidiary of The Singer Bhold B.V. 1st Fl., 39 Dilkusha, Dhaka, 1212, Bangladesh ()880 02 913 2202, 880 02 885 7624 fax, http://www.singerbd.com

MFI- Singer Bangladesh

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Page 1: MFI- Singer Bangladesh

Singer Bangladesh Ltd.Singer Bangladesh Limited is a subsidiary of The Singer Bhold B.V.

1st Fl., 39 Dilkusha, Dhaka, 1212, Bangladesh()880 02 913 2202, 880 02 885 7624 fax, http://www.singerbd.com

Page 2: MFI- Singer Bangladesh

Chapter 1: Company Profile

Year of Establishment:

►   Singer Bangladesh  started its journey as a private limited company in 1979

►   Singer Bangladesh Limited was converted into a public limited company in 1983

►   Direct subsidiary of The Singer Bhold B.V., The Netherlands since 2003

►   Shares of the company are publicly traded in DSE and CSE

 

Page 3: MFI- Singer Bangladesh

Industry Singer Belongs to:

Sewing machines are SINGER’S core business but the Management realized that this product alone could not substantiate growth for longer periods. This diversification into consumer durables has continued unabated. At different times SINGER has introduced Color Televisions, Fans, Washing Machines, Irons, Microwave Ovens, Rice Cookers, Audio Products, Air Conditioners, Motorcycles, Instant Power supply, DVD Players, Room Heaters, Kitchen Appliances, Netbook, Laptop, Desktop Computers, Generators, Blue Ray DVD Players, LCD/LED TV and 3D Television. SINGER, as part of its diversification program, ventured into the manufacturing and marketing of household and industrial cables in 2006 with the promise to “Safety You Can Trust”.

Around 300 dealers are located across the country to make Consumer Electronics & Home Appliances of SINGER and other brands, SINGER Cables and Sewing Machines available to more consumers.

Page 4: MFI- Singer Bangladesh

Company Briefing:

The SINGER saga began in 1851, when Sir Isaac Merritt Singer with US$ 40 in borrowed capital began to manufacture and sell a machine to automate and assist in the making of clothing. In 1876, SINGER became the first multinational industrial company as it began manufacturing sewing machines in Glasgow, Scotland. By 1880 world sales had reached 250,000 units. Additional factories were established in New Jersey, and one of the best-known emblems- the RED S Girl Trademark-was developed. The singer Building at 149 Broadway in New York was opened and became the headquarter of Singer for the next 54 years Singer introduced electronics, home appliances, and other consumer durables especially in the Asia Pacific Rim, Latin America and the Caribbean. Today Singer is a household name throughout the world for a wide range of products for the home. The first operation of Singer began in 1905. Later, in 1920, two shops were set up in Dhaka and Chittagong. After the emergence of Bangladesh on December 16, 1971, the East Pakistan Branch Office was elevated to a country Office and the Sewing Machines were made available from different Singer overseas sources. The number of shops was squeezed to only 23 because of low volume of business. In 1983 the company was listed with Dhaka Stock Exchange (DSE) and offered 20% of its total capitalization In 2001, it was also listed with the Chittagong Stock Exchange (CSE). Although sewing machines are SINGER’S core business but the Management realized that this product alone could not substantiate growth for longer periods. This diversification into consumer durables has continued unabated. At different times SINGER has introduced Color Televisions, Fans, Washing Machines, Irons, Microwave Ovens, Rice Cookers, Audio Products, Air Conditioners, Motorcycles, Instant Power supply, DVD Players, Room Heaters, Kitchen Appliances, Netbook, Laptop, Desktop Computers, Generators, Blue Ray DVD Players, LCD/LED TV and 3D Television. SINGER, as part of its diversification program, ventured into the manufacturing and marketing of household and industrial cables in 2006 with the promise to “Safety You Can Trust”.

Gradual transformation of SINGER Shops into Singer Plus was adapted in 2006 as part of its multi-branding strategy. The main focus of this strategy is to make available varied world famous brands under the same product category for providing customers a variety of choice under the same roof. As such SINGER Plus Shops now offers world famous brands like Samsung, Haier, Singtech, Whirlpool, Toshiba, Moulinex, Sebec, Tefal, Prestige, PureIt alongside with SINGER.

Page 5: MFI- Singer Bangladesh

Core Values:

Integrity

We conduct ourselves with honesty and integrity, recognizing that upholding the customer's trust requires the highest standards of moral and ethical conduct.

Quality

We achieve excellence through the ongoing development of our competencies and continuous quality improvement in all our processes. In particular, we recognize the value and importance of forecasting in reaching quality and timely decisions.

Teamwork

Everyone's contribution is important. Working together, we place the mission of IC Trends first and align our efforts toward that end. We conduct ourselves in accordance with the principles of consultative and participative decision-making.

Communication

We communicate information, ideas, decisions, and provide feedback, internally and external to the organization, in a candid, timely, constructive, and clear manner.

Equity

We treat our customers and each other with fairness, courtesy, respect and compassion while fostering an atmosphere of mutual trust.

Diversity

We promote workforce diversity to strengthen and enrich the company.

Innovation

We apply new concepts, ideas, and creative approaches to improve current operations and to meet the challenges of the future.

Quality of Work Life

Page 6: MFI- Singer Bangladesh

We create and use programs that enhance the quality of the work place to improve our ability to carry out the mission of the organization.

Provide Amazing Service

We are proud to operate a customer-centric company where the relationship with our customers is our number one priority. We think anything worth doing, is worth doing well. We strive to exceed the expectations of every customer before, during and after the sale. We go above and beyond the average level of service to create customer amazement and strong connections with our customers.

Make a Commitment to Improvement

Because of our entrepreneurial spirit we never accept or become comfortable with the status quo, but are always thinking of ways to improve. Without change, we cannot continue to provide the amazing service that is the Singer Family trademark. Sharing of ideas and respecting different perspectives is important to maximizing improvement.

Embrace a Strong Work Ethic

In Singer Bangladesh people do not have "jobs", they have responsibilities. Personal accountability is expected so that each person contributes his or her very best. Attitude, Character and Enthusiasm (ACE) is our daily reminder to approach each day with integrity in order to produce our finest work.

Build a Family Spirit

Our honesty and integrity with one another other leads to strong relationships that produce the strongest work. We can use these solid relationships to accomplish so much more than we could otherwise. We encourage consultation, collaboration and participation at all levels of the organization. We are in this together and no matter the situation, we are always respectful to one another.

Have Fun at Work

We love to celebrate our individual and team accomplishments, both large and small. We have a sense of humor and we know that it's good to laugh at ourselves every once in a while. We are proud of our employee happiness and are always looking for a chance to fully engage in our work and bring out the fun in it.

Management Hierarchy:

Page 7: MFI- Singer Bangladesh

Board of Directors

ChairmanMahbub Jamil

Managing DirectorA. M. Hamim Rahmatullah

DirectorAkhtar ImamC. K. Hyder

Gavin J. WalkerSajidurRahman Khan

Gelmart M. GellecanaoMohammad SanaullahAkramUddin Ahmed

Company SecretaryMohammad Sanaullah

Audit CommitteeC. K. Hyder (Chairman)

Akhtar ImamA. M. Hamim Rahmatullah

Remuneration CommitteeC. K. Hyder (Chairman)

Akhtar ImamGavin J. Walker

Nomination CommitteeGavin J. Walker (Chairman)

Akhtar ImamC. K. Hyder

Management CommitteeA. M. Hamim Rahmatullah (Chairman)

Mokbul Ahmed (Member Secretary)SajidurRahman KhanMohammad SanaullahAkramUddin Ahmed

TanyeemQuarrarMokbulla Huda Chowdhury

Md. AshgarHossainKaziRafiqul Islam

Page 8: MFI- Singer Bangladesh

M. M. FerdousAbu Zafar Md. Kibria

Chief Financial OfficerAkramUddin Ahmed

Internal Audit ManagerAbu Zafor Md. Kibria

AuditorsRahman Rahman HuqChartered Accountants

Legal AdviserA. Imam and AssociatesBaristers& Advocates

BankersCitibank N.A.

Trust Bank Ltd.Pubali Bank Ltd.Dhaka Bank Ltd.Bank Alfalah Ltd.Eastern Bank Ltd.

Mutual Trust Bank Ltd.Commercial Bank of Ceylon Plc.

The City Bank Ltd.

Registered Office39 Dilkusha Commercial Area

Dhaka-1000

Corporate Office5B, Road No. -126

Gulshan-1, Dhaka-1212

Audit and Wholesale OfficeWahab Complex, 55 Zoar Sahara

Nikunja-2, Dhaka-1219

Singer Manufacturing Complex (SMC)Rajfulbaria, Jhamur, Savar, Dhaka-134

Products:

Page 9: MFI- Singer Bangladesh

Air Conditioner Computer DVD/Blu Ray Player Electric Kettle Fan Freezer Fridge Gas Burner IPS Iron Kitchen Appliances LED/LCD Television Microwave Oven Motor Cycle Rice Cooker Sewing Machine Singer Cables Television Washing Machine Water Heater Water Purifier

Service:

Hire Purchase Extended Warranty After Sales Service Singer Sewing Academy BillPay FlexiLoad Customer Protection Plan Customer Loyalty Programme Call Center InstaBuy

Page 10: MFI- Singer Bangladesh

Target market of Singer Bangladesh:

Amplifier Blank Records & Tapes Cables Camera Accessories Car Audio Car Communications Car Reversing Aid Card Readers Cassette Recorder & Player CD Player Chargers Consumer Electronics Stocks Digital Batteries Digital Cameras

Digital Voice Recorder DVD, VCD Player Earphone & Headphone Film Cameras Handheld Video Games HDD Players Home Audio & Video Parts & Accessories Home Theatre System Karaoke Player Memory Cards Microphone MP3 & MP4 Accessories MP3 Players MP4 Players Navigation & GPS

Other Auto Electronics Other Consumer Electronics Other Home Audio & Video Equipment Quran Players Radio

Page 11: MFI- Singer Bangladesh

MANAGEMENT PHILOSOPHY

To work for the betterment of society

VISION

To be the most admired and respected family company in the country

MISSION                                                                        

To improve the quality of life of the people by providing comforts and conveniences at affordable prices                                                                                                                                                                                                                              

VALUE STATEMENT                

ConsumersTo live up to the expectation of a responsible organization by contributing towards the improvement in the Quality of life of our customers through outstanding product and services

Employees To respect each other as individuals and encourage cross functional teamwork while providing opportunities for career development.

ShareholdersTo provide reasonable return to shareholders while safeguarding their investment.

Suppliers To develop our suppliers as partners in progress and share our growth with them.

CompetitorsTo respect our competitors and recognize their contribution to market value.

Community To conduct our business by conforming to the ethics of our country and share the social responsibility of the less fortunate.

Page 12: MFI- Singer Bangladesh

OBJECTIVES

To be the market leader in our product range and market segment. To provide consumers with the best services and shopping  experience. To provide consumers with products of latest technology. To develop our employees to achieve their real potential. To provide our shareholders with steady asset growth and return on investment above our

industry norm. To grow our revenue and profits at a rate above the industry norm.

 

Singer Bangladesh Goals :

Singer Bangladesh want to be the best company who serve quality product and service to family of the whole world. The major outcome of strategic road-mapping and strategic planning, after gathering all necessary information, is the setting of goals for the organization based on its vision and mission statement. A goal is a long-range aim for a specific period. It must be specific and realistic. Long-range goals set through strategic planning are translated into activities that will ensure reaching the goal through operational planning.

Page 13: MFI- Singer Bangladesh

Strengths, Weaknesses, Opportunities and Threats (SWOT)

“SWOT is an acronym for the internal Strengths and Weaknesses of a firm and the environmental Opportunities and Threats facing that firm. SWOT analysis is a widely used technique through which managers create a quick overview of a company’s strategic situation. The technique is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats). A good fit maximizes a firm’s strengths and opportunities and minimizes its weaknesses and threats. Accurately applied, this simple assumption has powerful implications for the design of a successful strategy.”

Singer Bangladesh Company SWOT analysis:

Location of Factor TYPE OF FACTORFavorable Unfavorable

Internal Strengths

Robust top line growth Strong market position Diversified business

portfolio

Weaknesses

Fluctuating operating and net profits

External Opportunities

Positive outlook for semiconductors

Increasing mobile phone sales

Growing Rural market

Threats

Increasing raw material prices

Intense competition Government

regulations

Page 14: MFI- Singer Bangladesh