Metro Group

Metro Group is a Bangladeshi diversified business group headquartered in Dhaka. The group traces its origins to Al-Amin Construction Company Limited, established in 1970, and subsequently expanded beyond construction into pharmaceuticals, services, telecommunications, hospitality, education, agriculture, and infrastructure development. Its portfolio is organized through a number of subsidiaries and affiliated businesses rather than through a single consumer-facing product brand. A significant early expansion was the acquisition of Central Pharmaceuticals Limited in 1993. The pharmaceutical company had been established during the liberalization of Bangladesh's pharmaceutical market in the 1980s by GETCO Group and BanglaCAT. Central Pharmaceuticals later became associated with several public-market and corporate-governance controversies, including reports in 2017 and 2018 that Metro Group intended to sell the company to Alif Group and allegations concerning share sales by company directors. The Bangladesh Securities and Exchange Commission and the Dhaka Stock Exchange were subsequently involved in related regulatory developments. Metro Group also developed a substantial hospitality and property portfolio through Best Holding Limited. Best Holding began construction of Le Méridien Dhaka in 2006, and the hotel began operating in 2015. The project was financed in part through substantial borrowing, and Best Holding later issued bonds to address the hotel project's debt obligations. The group has also been associated with The Muslin, a Luxury Collection Resort in Bhaluka, Marriott Bhaluka, and related education and economic-zone projects, including Haileybury campuses and proposed industrial or agro-processing zones. In telecommunications, Metro Group joined Karnaphuli Group and Partex Star Group to establish Sky Telecommunication. The venture introduced Zelta-branded mobile phones in 2015. Other businesses identified with the group include Metro Services Limited, Metro Unitrade Limited, Amin Associates Overseas Company Limited, G2G Assignment Limited, Empori, Bestcom, and CS49. The group has also been involved in major property-development disputes. In 2006, Amin Associates Overseas Company Limited signed an agreement with the Dhaka City Corporation concerning the construction of a twenty-floor tower on the site of a DCC market. Shop owners who were not included in the negotiations challenged the arrangement, leading to a prolonged legal dispute. After a market fire on 3 January 2017, some shop owners attributed responsibility to Metro Group, an allegation reported in connection with the continuing dispute and not established here as a judicial finding. Metro Group's public profile has therefore combined diversified investment with high-profile projects in pharmaceuticals, hotels, telecommunications, and urban development. Available reference material does not establish a consolidated current financial profile, a group-wide public listing, or a definitive corporate website. Its best-documented identity is that of a Bangladeshi conglomerate whose operating companies and projects carry their own brands.

Metro Group's documented history begins with Al-Amin Construction Company Limited in 1970. The group later broadened its activities as Bangladesh's private-sector economy developed. During pharmaceutical-market liberalization in the 1980s, GETCO Group and BanglaCAT established Central Pharmaceuticals Limited. Metro Group acquired the company in 1993, adding pharmaceuticals to its construction and services interests. The group subsequently pursued urban property development through Amin Associates Overseas Company Limited. In 2006, the subsidiary entered an agreement with the Dhaka City Corporation to develop a twenty-floor tower on a market site. The project generated a long-running dispute because market shop owners said they had not been included in the negotiations. The conflict remained active for years, and a market fire in January 2017 produced further allegations from some shop owners, who blamed Metro Group for the incident. The available reference does not establish that allegation as a legal finding. Hospitality became another major area of expansion through Best Holding Limited. Best Holding began developing Le Méridien Dhaka in 2006, and the hotel opened in 2015. The project involved substantial borrowing. Best Holding later issued bonds in January 2019 to help address debt related to the hotel's construction. Its broader reported portfolio includes The Muslin, a Luxury Collection Resort, and Marriott Bhaluka, as well as planned or associated education, agricultural, and economic-zone projects. Metro Group also entered telecommunications through Sky Telecommunication, a venture formed with Karnaphuli Group and Partex Star Group. Sky introduced Zelta-branded mobile phones in 2015. This extended the group's activities from traditional industrial and property businesses into consumer technology. Central Pharmaceuticals became the subject of renewed market attention in 2017 and 2018 amid reports that it might be sold to Alif Group. Coverage linked the reported transaction to a substantial movement in the company's share price and raised allegations that two directors had sold shares to the public without informing the Bangladesh Securities and Exchange Commission. In December 2020, regulators stopped Best Holding's proposed direct listing on the Dhaka Stock Exchange because private companies could not be directly listed under the applicable rules. A policy dispute followed, involving proposed changes intended to facilitate direct listings by private infrastructure companies. In 2021, Central Pharmaceuticals experienced another unexpected share-price increase despite reported losses, while the Ministry of Finance advised four state-owned banks not to seek guaranteed dividends from Best Holdings. The group is consequently best understood as a diversified Bangladeshi conglomerate with operating companies spanning construction, medicines, hospitality, telecommunications, education, agriculture, and infrastructure. The supplied reference material does not provide a complete account of its present ownership, consolidated management, financial condition, or current operating status for every subsidiary.

1. 2020Best Holding direct listing is stopped

   The securities regulator blocks Best Holding's proposed direct listing on the Dhaka Stock Exchange.

   Source
2. 2019Best Holding issues bonds

   Best Holding issues bonds in connection with debt from the Le Méridien Dhaka project.

   Source
3. 2015Zelta phones launch

   Sky Telecommunication introduces the Zelta mobile-phone brand.

   Source
4. 2015Le Méridien Dhaka opens

   Best Holding's Dhaka hotel begins operations.

   Source
5. 2006Dhaka tower agreement is signed

   Amin Associates Overseas Company Limited signs an agreement with Dhaka City Corporation for a proposed twenty-floor tower on a market site.

   Source
6. 2006Le Méridien Dhaka construction starts

   Best Holding Limited begins construction of the Le Méridien Dhaka hotel.

   Source
7. 1993Metro Group acquires Central Pharmaceuticals

   Metro Group purchases Central Pharmaceuticals Limited, expanding its portfolio into pharmaceuticals.

   Source
8. 1970Al-Amin Construction Company is established

   Al-Amin Construction Company Limited, the historical starting point identified for Metro Group, is established in Bangladesh.

   Source

A diversified Bangladeshi conglomerate combining industrial businesses with hospitality, property, telecommunications, education, and infrastructure projects.

• Central Pharmaceuticals LimitedPharmaceuticals

  A pharmaceutical company established during Bangladesh's market liberalization period in the 1980s and acquired by Metro Group in 1993. It is one of the group's best-documented industrial holdings and has also been the subject of public-market and regulatory reporting.

• Le Méridien DhakaHospitality2015

  A luxury hotel developed by Best Holding Limited. Construction began in 2006 and the property commenced operations in 2015, becoming a prominent Metro-linked hospitality asset in Dhaka.

• ZeltaMobile phones2015

  A mobile-phone brand manufactured by Sky Telecommunication, a venture established by Metro Group together with Karnaphuli Group and Partex Star Group. The brand was introduced in 2015.

• The Muslin, a Luxury Collection Resort, BhalukaHospitality

  A resort project identified with Best Holding Limited and the Metro Group portfolio. The supplied reference names the property but does not provide an opening date or current operating details.

• Marriott BhalukaHospitality

  A hospitality project associated with Best Holding Limited. Available reference material identifies it as part of the portfolio but does not establish its opening date or current operating status.

• Haileybury Dhaka and Haileybury BhalukaEducation

  Education projects listed among Best Holding's associated businesses. The available source does not provide detailed information about their facilities, opening dates, or present operations.

• Dhamshur Economic ZoneInfrastructure

  An economic-zone development associated with the Metro Group portfolio. No further development timetable or operating information is established in the supplied reference.

• Niloy Agro and Food Processing Economic ZoneAgriculture and infrastructure

  A proposed or associated economic-zone project focused on agriculture and food processing. The supplied source does not confirm its development stage or operating status.

• 2018Shakib Al Hasan brand ambassador appointment

  Bangladesh

  Best Holding appointed Bangladeshi cricketer Shakib Al Hasan as a brand ambassador, giving the group's hospitality business a prominent national sports figure for promotional activity.

  Outcome. The appointment was publicly announced; the supplied reference does not document campaign performance.

  Source

• 2020Pursue a direct listing for Best HoldingOther

  Best Holding sought access to the Dhaka Stock Exchange while direct listing rules for private companies were restrictive.

  What changed. The company pursued a proposed direct listing and identified issue managers, but the securities regulator stopped the listing.

  Aftermath. The case prompted a policy dispute over whether private infrastructure companies should be permitted to list directly.

  Source
• 2019Issue bonds to address hotel-project borrowingOther

  Best Holding had borrowed to finance construction of Le Méridien Dhaka.

  What changed. Best Holding issued bonds in January to help repay the construction-related loan.

  Aftermath. The bond issue was presented as a financing response to the hotel's accumulated project debt.

  Source
• 2015Launch Zelta mobile phonesProduct launch

  The group entered consumer telecommunications through Sky Telecommunication.

  What changed. Sky Telecommunication launched phones under the Zelta brand.

  Aftermath. The launch extended Metro Group's reported portfolio into branded consumer electronics.

  Source
• 2006Enter large-scale hospitality developmentStrategy

  Metro Group pursued diversification into property and hospitality.

  What changed. Best Holding began construction of Le Méridien Dhaka.

  Aftermath. The hotel opened in 2015 and became a major group-associated hospitality asset.

  Source
• 1993Acquire Central PharmaceuticalsM&A

  Metro Group sought to expand its activities beyond construction and related services.

  What changed. The group purchased Central Pharmaceuticals Limited.

  Aftermath. Pharmaceuticals became one of the documented businesses in the group's diversified portfolio.

  Source

• 2018Central Pharmaceuticals share-sale and disclosure allegationsControversy

  Coverage surrounding a possible sale of Central Pharmaceuticals to Alif Group included allegations that directors Parvez Ahmed Bhuiyan and Md Rukunuzzaman sold shares to the public after a price increase without informing the Bangladesh Securities and Exchange Commission.

  Source
• 2017Allegations following the DCC market fireControversy

  After a fire at the DCC market on 3 January, some shop owners blamed Metro Group in the context of their continuing dispute over the proposed tower project. The available source reports the allegation but does not establish it as a court finding.

  Source

• 2021Central Pharmaceuticals shares rise despite reported loss

  Central Pharmaceuticals shares rose unexpectedly in August despite the company reportedly operating at a loss.

  PricingOther
  Source
• 2021Finance Ministry advises state banks on Best Holdings dividends

  The Ministry of Finance recommended that four state-owned banks not seek their guaranteed dividends from Best Holdings.

  RegulationOther
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• 2020Regulator blocks proposed direct listing of Best Holding

  The Bangladesh Securities and Exchange Commission stopped Best Holding's proposed listing on the Dhaka Stock Exchange, citing rules that did not permit direct listing of private companies.

  Regulation
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• 2020Central Pharmaceuticals director announces proposed share buyback

  A Central Pharmaceuticals director announced plans to repurchase a portion of the company's shares traded on the stock market.

  Other
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• 2019Best Holding issues bonds for hotel-project debt

  Best Holding issued bonds in connection with repayment of borrowing associated with the construction of Le Méridien Dhaka.

  Other
  Source
• 2018Best Holding appoints Shakib Al Hasan as brand ambassador

  Best Holding announced the appointment of Bangladeshi cricketer Shakib Al Hasan as a brand ambassador.

  Campaign
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• 2017Reports emerge of a possible Central Pharmaceuticals sale

  Reports that Central Pharmaceuticals might be sold to Alif Group appeared in February, preceding wider coverage in 2018.

  M&AOther
  Source
• 2015Sky Telecommunication launches Zelta mobile phones

  Sky Telecommunication, formed with Karnaphuli Group and Partex Star Group, introduced mobile phones under the Zelta brand.

  Product launch
  Source
• 2015Le Méridien Dhaka begins operations

  The Best Holding hotel project in Dhaka commenced operations.

  Product launch
  Source
• 2006Metro-linked developers face continuing dispute over DCC market tower project

  Amin Associates Overseas Company Limited signed an agreement concerning a proposed twenty-floor tower on a Dhaka City Corporation market site. Shop owners excluded from the negotiations challenged the arrangement.

  LawsuitOther
  Source
• 2006Le Méridien Dhaka construction begins

  Best Holding Limited began construction of the hotel project that later opened as Le Méridien Dhaka.

  Other
  Source

1. Metro Group (Bangladesh)