Misplaced Pages

This is an old revision of this page, as edited by Zarasophos (talk | contribs) at 17:56, 22 November 2020 (removed some people, added dragon sweater url). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Dragon Group is a group of garment factories and other companies in Bangladesh. The group employs several thousand employees. It produces mainly for the international market and exports to more than 30 countries, especially Germany. In 2018, its subsidiary Dragon Sweater was one of the 10 most-traded companies on the Dhaka Stock Exchange.

Organisation

Mostafa Golam Quddus, a former president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), oversees the day-to-day operations as Managing Director. His son, Mostafa Quamrus Sobhan, is the Group's chairman. His daughter, Fauzia Quamrun Tania, is one of the company's directors.

Dragon Sweater Bangladesh Ltd actively participates in various corporate social responsibilities such as Eye Camp for families of garment workers, education facilities for children of garments workers in remote villages, and accommodations of poor orphans and old women of garment workers. All these initiatives take place in Mia Bazaar, Comilla.

History

Cheung Hing Sweater was the first Dragon Group sweater factory to be established. It was founded in the 1980s with 50 Chinese technicians, about 300 machines and about 600 employees.

In 2008, 21 directors of Rupali Insurance Ltd were fined by the Bangladesh Securities and Exchange Commission for violation of securities law in connection with the company's financial statements for the 2006 business year. In 2015, an inspection of Garment factories including Dragon Sweater found major electrical and structural flaws. Those included cables directly laid on floors without proper safety, insufficient exit capacity through exit doors and the absence of sprinklers.

Dragon Sweater and Spinning Ltd's IPO was approved in December 2015, and since the first quarter of 2016 it is listed at the Dhaka and Chittagong Stock Exchanges.

In 2019, Mostafa Qamrus Sobhan filed a petition asking for a six-months ban on activities of Nirapon, an alliance formed by international clothing companies to oversee building inspection, at the Bangladesh High Court. According to the petition's lawyer, the aim was to include Nirapon under the common platform of the RMG Sustainability Council. With the ban on activities still active, Nirapon left Bangladesh in 2020, laying off most of its staff, and said it would continue its activities from North America.

2020 Dragon Sweater layoffs

References

1. Mirdha, Refayet Ullah (2009-08-13). "Dragon to expand with new yarn unit". The Daily Star. Retrieved 2020-11-21.
2. "Dragon Sweater leads turnover, gainer charts". The Financial Express. 2019-01-17. Retrieved 2020-11-22.
3. "Dragon Sweater and Spinning Ltd Annual Report 2019" (PDF). Dragon Sweater & Spinning Ltd. 2019-06-13. Retrieved 2020-11-21.
4. "30 directors of 3 listed firms fined Tk60 lakh". The Daily Star. 2008-10-14. Retrieved 2020-11-22.
5. Mirdha, Refayet Ullah; Rahman, Mohammed Fazlur (2015-12-08). "Major flaws in 10 garment factories". The Daily Star. Retrieved 2020-11-21.
6. "Dragon Sweater gets go-ahead for IPO". The Daily Star. 2015-12-08. Retrieved 2020-11-21.
7. "Foreign RMG brand alliance Nirapon banned for 6 months". Dhaka Tribune. 2019-10-23. Retrieved 2020-11-22.
8. "High Court imposes ban on Nirapon for 6 months". New Age. 2019-10-24. Retrieved 2020-11-22.
9. Karim, Rezaul (2020-06-07). "Nirapon is leaving Bangladesh". The Business Standard. Retrieved 2020-11-22.

This Bangladesh-related article is a stub. You can help Misplaced Pages by expanding it.

• v
• t
• e

This Asian corporation or company article is a stub. You can help Misplaced Pages by expanding it.

• v
• t
• e

• Clothing companies of Bangladesh
• 1994 establishments in Bangladesh
• Bangladesh stubs
• Asian company stubs