SQUARE Corporate Group Ltd is one of the most popular corporate business organization in Bangladesh. It is involved with many kinds of economic and social activities. It is serving high quality services to the customers, to the government, to the society and to the nation.
They are involved with many kinds of business activities. They have textile miles, spinning mils, pharmaceutical industry, toiletries product, consumer products, food products, knit fabrics, hospital, etc.
They are doing many kinds of social services. They are maintaining all the rules and regulations on the country. They are serving the investors, the customers, the employees, the government, the community and the nation.
Every year they are incoming a huge number of foreign currency for the nation. They are paying large amounts of tax every year. They are creating a very big number of employments opportunities. They are playing a vital role to develop the economic condition of the country. They are always ready to help the disaster-affected people.
So, we can say that as a corporate business organization SQUARE is
Maintaining all their responsibilities very effectively. They are serving the society and the nation as much as they can.
TABLE OF CONTENTS:
|Scope of the Organization|
|Distribution Department at a Glance|
|Vision, Mission, Objective, Corporate focus|
|Ten Principles of Global Compact(UN)|
|They Strive For|
|Corporate Operational Result|
|Corporate Social responsibilities|
|Service they provide|
|Scope of the study|
|Objective of the study|
|Finding & Analysis|
CORPORATE SOCIAL RESPONSIBILITIES:
Social responsibilities is the awareness that business activities have an impact on society and the consideration of that impact by firms in decision making. Business organization produce goods and services to generate profit. At the same time, it does have some impact on the society as well as the whole community. Social responsibility is a must for a business organization. If business firms fail to discharge the responsibility then they will fail to create goodwill an last long.
SOCIAL RESPONSIBILITIES OF BUSINESS:
Business is a part of social system. It cannot exist without social support. Different social groups are:
All of those above types of parties get some service from the business. They are:
Social responsibilities to the investors: The responsibilities to the investors are:
- Fair return
- Conduct the business profitable
- Expand the business
- Best use of resources, etc.
Social responsibilities to customers: The responsibilities to the customers are:
- Considering the customers as essence
- Provide high qualities of goods at fair prices
- To make the goods available
- Meeting customers satisfaction
- Conducting research and development work
- Attention to customers welfare, etc.
Social responsibilities to the employees: The responsibilities to the employees are:
- Treat employees with respect and dignity
- Reasonable and fair wages
- Providing training facilities
- Creating favorable working environment
- Ensuring job security
- To meet their social, economic and physiological needs
- Maintain good labor management relation
- Improving living standard $ qualities of workers life
- Providing promotional opportunities
Social responsibilities to the suppliers: The responsibilities to the suppliers are:
- To repay the claims timely
- Fair dealings
- Gain their confidence
- Behave cordially
Social responsibilities to the government: The responsibilities to the government are:
- Maintaining the rules and regulations of the country
- Payment of taxes
- Ensuring social and state security
- Supply government with relevant information
Social responsibilities to the community: The responsibilities to the community are:
- Creating employment opportunity
- Conducting resources and development work in order to increase and quantity of goods
3. Increase productivity
4. Protecting environment from pollution
5. Eliminate social injustice
6. Comply with government rules and regulations
Social responsibilities to the nation: The responsibilities to the nation are:
- Reducing wastes of natural resources
- Maintaining national integrity
- Donate to the natural calamity
- Increasing national wealth
SQUARE Corporate Groups Ltd. Bangladesh:
SQUARE Corporate Group is one of the most popular corporate business organization in Bangladesh. It is involved with many kinds of social activities from the very beginning. SQUARE today symbolizes a name – a state of mind. But its journey to the growth and prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global player.
SQUARE Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the 1st position among all national and multinational companies since 1985. It was established in 1958 and converted into a public limited company in 1991. The sales turnover of SPL was more than Taka 7.5 Billion (US$ 107.91 million) with about 16.92% market share (April 2006– March 2007) having a growth rate of about 23.17%.
BOARD OF DIRECTORS:
Mr. Samson H. Chowdhury Chairman
Mr. Tapas Chowdhury Managing Director
Dr. Kazi Harunar Rashid Director
Mr. M. Sekander Ali Independent Directir
Mr. Samuel S. Chowdhury Director
Ms. Ratna Patra Director
Mr. Anjan Chowdhury Director
Mr. Kazi Iqbal Harun Director
Mr. K.M Saiful Islam Director
Mr. M. Sekander Ali Chairman
Mr. Samuel S. Chowdhury Member
Mr. Kazi Iqbal Harun Member
Mr. Tapan Chowdhury Chairman
Mr. M. Saiful Islam Member
Mr. Perves Hoshin Member
Mr. M. Ashiqul Hoque Chowdhury Member
Mr. Muhammadul Haque Member
Mr.Md. Kabir Reza , FCMA Member
SQUARE Corporate Groups has their scope all over the country. Their distribution groups is working in every sectors of the country. They have reach at all district on the country
Distribution Department at a Glance:
|Dhaka||355-356, Tejgaon Industrial Area, Dhaka-1208.|
|Pabna||Hospital Road, Salgaria, Pabna.|
|Bogra||877/A, MS Road, Bakshi Bazar, Malati Nagar, Bogra|
|Rangpur||South Guptapara,Kaminikutir Sub Post Office Rangpur-5400|
|Khulna||Alhamdulillah, 25 Usufe Road, Mirzapur, Khulna-9100|
(880-041) 732330, 724654
|Barisal||502/532 South Alekanda, 1 No. C & B Pool, C & B Road, Barisal.|
(880-0531) 53661, 56778
|Comilla||400/363, Shishu Mangol Road, Kandirper Comilla.|
|Mymensingh||5/A/04 & 5/A/05, Shaheb Quarter, Kachijuli, Mymensingh|
|Chittagong||House No-1/C, Baijid Bostami Road, East Nasirabad, Chittagong-4000.|
|Maizdee||234/B, Hospital Road, Maizdee Court, Noakhali.|
|Sylhet||Sabina Mohal, 44, Payra, Darshandewry, Dorga Mohalla, Sylhet.|
|Tangail||Biswas Betka, Dhaka Road, Tangail||(880-0921) 53488|
|Rajshahi||106, Ambagan, Senanibas Sarak, Rajshahi||(880-0721) 760877|
|Faridpur||Mission Road, Christian Mission, Police Line, Faridpur||(880- 0631) 63561|
|Naryanganj||Holding No. – 5, Khanpur, Main Road||7632990|
|Jessore||House-1, Plot-1 & 2, Sector-10, Housing Estate Shaikhati, Bablatola, Dhaka Road, Jessore-7400||042163189|
Supply Right products in Right place in Right time
History : SPL opened first Depot at Barisal in 1995
Central Depot : Hospital Road, Salgaria, Pabna
We view business as a means to the material and social wellbeing of the investors, employees and the society at large, leading to accretion of wealth through financial and moral gains as a part of the process of the human civilization.
Our Mission is to produce and provide quality & innovative healthcare relief for people, maintain stringently ethical standard in business operation also ensuring benefit to the shareholders, stakeholders and the society at large.
Our objectives are to conduct transparent business operation based on market mechanism within the legal & social frame work with aims to attain the mission reflected by our vision.
Our vision, our mission and our objectives are to emphasize on the quality of product, process and services leading to growth of the company imbibe with good governance practices.
Today SQUARE is engage almost with all kinds of public activities. They are doing these for both purposes, for profit and to serve the society. They are creating many opportunities for all sectors of people. They are creating educational facilities, medical service, textile, etc.
THE INVESTMENTS THEY HAVE:
- SQUARE PHARMACEUTICAL LTD,
- SQUARE TEXTILE LTD.
- SQUARE SPINNING LTD.
- SQUARE TOILETRIES LTD.
- SQUARE KNIT FABRICS LIMITED.
- SQUARE CONSUMERS PRODUCT LTD.
- SQUARE AGRO DEVELOPMENT & PROCESSING LTD. etc
SQUARE first ventured into the textile sector with the establishment of the first unit of the SQUARE Textiles Ltd. in 1997. A year later the establishment of the second unit followed. Today it has one of the most sophisticated vertically integrated set-ups in the country.
Some of SQUARE Group’s ventures in the textile arena are: SQUARE Textiles Ltd., SQUARE Spinning Ltd., SQUARE Knit Fabrics Ltd., SQUARE Fashions Ltd. SQUARE
Yarns Limited and RASTAS Apparels Ltd
Year of Establishment
Financial Status (2006)
Financial Status (2006)
SQUARE Knit Fabrics Ltd.
Commencement of Production
Financial Status (2006)
SQUARE Fashion Ltd.
Financial Status (2006)
SQUARE Toiletries Ltd. started its journey in 1988 with a single product as a separate division of SQUARE Pharmaceuticals. In 1994, SQUARE Toiletries Ltd. becomes a Private Limited Company. At present, STL is the country’s leading manufacturer of international quality cosmetics and toiletries with over 50 products.
Currently, STL is Carrying out its production in its two automated plants at Rupsi and Pabna. Depending on the nature of products, formulation and packaging, STL has product specific machinery. STL uses raw materials from the world renowned suppliers like Dragoco, Firmeuich etc. STL always performs international standard production process which follows the Good Manufacturing Practice (GMP).
In 2001, SQUARE Consumer Products Ltd started its operation as an individual company. Within a very short span of time SCPL has drawn the attention of the consumers by providing quality products and preferred services.
Year of Establishment
Commencement of Production
Financial Status (2006)
Annual Turnover : US$ 19.56 million
Annual Growth : 29.00%
The vacuum in the quality data connectivity within distributed offices for online systems inspired SQUARE to diversify into the information and communication technology (ICT) sector. SQUARE InformatiX Ltd. pioneered and commissioned the first of its kind VSATControlCenter with capacity to control 16,000 VSATs at Gazipur to provide the most secured, reliable and cost effective data communication within and outside the country.
Apart from the communication solution, SQUARE InformatiX Ltd. also have long experiences in providing complex network solution, deployment of integrated Enterprise Resource Planning system and provider of Corporate Internet Services.
Microserve Ltd., a subsidiary of SQUARE InformatiX Ltd., was chosen by Microsoft Corporation as the sole Market Development Partner for Bangladesh for all Microsoft products.
AgriBiotech Project :
SQUARE has setup a plant tissue culture laboratory to develop agricultural/agro processing sector in the country and is committed to bring improved quality planting materials and year round production through AgriBiotech. The major activities of AgriBiotech is to provide disease free, stress free, high yielding seed & seedlings such as potato, banana, ginger, turmeric and some flowers including varieties of orchids to the farmer & nurserymen to solve quality seed problems in this agro based country.
Well equipped around 4000 square feet tissue culture laboratory is situated at Uttara, a convenient location, having careful designing and planning, facilitated to produce 10,00000 seedlings per year. The other activities of this project will be of research and development in the field of Biotechnology to protect some of endangered medicinal plant and to bring some new as cane, rattan, bamboo which is almost extinct in the country.
SQUARE Hospitals Ltd., a concern of Square Group, is a 300 bed tertiary care hospital. The hospital is an
affiliate partner of Methodist Healthcare, Memphis, Tennessee, USA; Christian Medical College-Vellore, India; and Care IVF (In-vitro fertility centre) Centre, Singapore.
Square Hospitals’ vision is to become the location of choice for Bangladeshis and people of South and South East Asia for quality healthcare, as well as an integrated centre for clinical services, medical and nursing education and research.
The hospital is located in the heart of Dhaka and aims to serve a greater portion of the capital city. At present it comprises two buildings on either side of Panthapath connected by an over-bridge. The main hospital building is 18 storied tall and is approximately 450,000 sq.ft. The second building (ASTRAS) is
located across the street and is 16 storied with 136,000 sq.ft. Both facilities are constructed in accordance with the US Fire and Building safety standards.
The outpatient department of this hospital can serve up to 1200 patients daily, through 60 examination rooms. To ensure optimum healthcare-hospitality, the patients are closely monitored in their waiting times in the outpatient clinics, emergency and admissions.
|Dedicated to bring the nature’s best for human health|
|SQUARE is the leading Pharmaceuticals of the country. SQUARE is dedicated to advance technology and the pioneer in introducing innovative ideas.|
|SQUARE HERBAL & NUTRACEUTICALS LTD. – an endeavor of SQUARE Group that has been evolved to ensure the availability of modern Herbal Medicines to the people of this country. To ensure modern Herbal Medicines, the company is –|
SQUARE HERBAL & NUTRACEUTICALS LTD. is devoted to Rational Phototherapy based on four basic rules of phytomedicines suggested by the German Commission E –
SQUARE is committed to ensure better health through quality medicines.
SQUARE Pharmaceuticals Ltd: Square Pharmaceuticals Limited is an organization with equal emphasis on Leadership, Technology, Quality and Passion. Square Pharmaceuticals Ltd. is the leading branded generic pharmaceutical manufacturer in Bangladesh producing quality essential and other ethical drugs and medicines. It was established in 1958 and has been continuously in the 1st position among all national and multinational companies since 1985. And now SQUARE Pharmaceuticals is set on becoming a high performance global player in the field.
PET Bottle Unit:
|First integrated machine of its kind in pharmaceuticals industry of Bangladesh. Operation started from 2004.|
|Production capacity/hour is 5000 pcs and it can run 24 hours continuously in a day.|
|The integrated system starts with the raw material – the PET resins and takes the process through to the finished container without any interruption, with total automated control of all phases of production.|
|The machine is equipped with a self diagnosis program complete with synoptic table and precise indications of any faulty components or incorrect process parameters. For this there is a closed loop – control system, active in each individual phase of the machine makes it a closed, self –diagnostic system in which the parameters and changes in production are controlled rapidly and effectively with immediate action.|
|Pharmaceutical Bulk Manufacturing Plant|
It is presently the largest quality-bulk drugs manufacturer in the country producing international standard bulk pharmaceuticals to satisfy more than hundred pharmaceutical companies throughout the country.
The plant was established in 1992 and started commercial production in 1995. Until 1996 it was involved only for the internal consumption of SQUARE Pharma. From the year 1997 it started it’s full-fledged production and marketing to all top pharmaceuticals within the country including Aventis Pharma, Novartis Bangladesh Ltd., ACI Ltd., Beximco Pharmaceuticals Ltd., The Acme Laboratories Ltd, Eskayef Bangladesh Ltd., Opsonin Chemicals, Renata Ltd., Essential Drugs Co. Ltd. and many more.
API Product Range:
The formulation plants are producing wide range of dosage forms like:
|Non-Coated (plain, chewable, dispersible, vaginal)|
Coated (sugar coated, film coated, enteric coated)
Sustained/Extended Released (coated, non – coated)
|Granulated Material filled|
|Vials containing Dry Powder for Injections|
Small Volume Liquid Parenterals
|Oral Syrups (Sugar based, Non-Sugar based)|
Spray, Drops, Ointment, Cream and Powder :
|Small Volume Sterile Eye & Ear Drops|
Small Volume Nasal Drops & Sprays
Topical Ointments & Creams
Topical Antibiotic Powder
Oral Dry Powders :
|Dry Suspensions (Antibiotic & Anti Infectives)|
Dry Syrups (Antibiotics)
Dry Powder Inhalers :
|Partial Filled (Premix) Capsules for Respiratory Tract Application with a Device|
Metered Dose Inhalers :
|Pressurized Canisters for Oral use with an Actuator|
Chemical Division started commercial production in 1995. From the year 1997 it started it’s full-fledged production and marketing to all top pharmaceuticals within the country including Aventis Pharma, Novartis Bangladesh Ltd., Glaxo Smith Kline, ACI Ltd., Reckitt & Colman, Beximco Pharmaceuticals Ltd., The Acme Laboratories Ltd, Eskayef Bangladesh Ltd., Opsonin Chemicals, Renata Ltd., Essential Drugs Co. Ltd. etc. with good reputation and loyalty.
The Ten Principles of Global Compact (UN) :
The ten principles of Global Compact initiated by the UN Secretary General as have been adopted by Square Pharmaceuticals Ltd. are as follows :
1. Businesses should support and respect the protection of internationally proclaimed human rights within their sphere of influence; and
2. Make sure that they are not complicit in human rights abuses.
3. Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
4. The elimination of all forms of forced and compulsory labor;
5. The effective abolition of child labor and
6. Eliminate discrimination in respect of employment and occupation.
7. Business should support a precautionary approach to environmental challenges:
8. Undertake initiatives to promote greater environmental responsibility; and
9. Encourage the development and diffusion of environmentally friendly technologies.
10. Business should work against corruption in all its forms, including extortion and bribery.
THEY STRIVE FOR:
- We in SQUARE, strive, above all, for top quality health care products at the least cost reaching the lowest rungs of the economic class of
- people in the country. We value our social obligations.
- We owe our shareholders and strive for protection of their capital as well as ensure highest return and growth of their assets.
- We strive for best compensation to all the employees who constitute the back-bone of the management and operational strength of
- the company through a pay-package composing salary/wages, allowances, bonuses, profit participation, leave salary and
- superannuation & retirement benefits.
- We strive for the best co-operation of the creditors & debtors the banks & financial Institutions who provide financial support when we
- need them, the suppliers of raw materials & suppliers who offer them at the best prices at the opportune moments, the providers of utilities-power, gas & water etc. and the customers who buy our products & services by redeeming their claim in time by making prompt payment and by distributing proper product on due dates to our customers.
- We strive for fulfillment of our responsibility to the government through payment of entire range of due taxes, duties and claims by
- various public agencies like municipalities etc.
- We strive, as responsible citizen, for a social order devoid of malpractices, anti-environmental behaviours, unethical and immoral
- activities and corruptive dealings.
- We strive for practicing good-governance in every sphere of activities covering inter alia not being limited to, disclosure & reporting to shareholders, holding AGM in time, distribution of dividends and other benefits to shareholders, reporting/dissemination of price sensitive information, acquisition of shares by insiders, recruitment & promotion of staff, procurement & supplies, sale of assets etc. all that directly and indirectly affect the interest of concerned groups – the shareholders, the creditors, suppliers, employees, government and the public in general.
- We strive for equality between sexs, races, religions and regions in all spheres of our operation without any discriminatory treatment.
- We strive for an environment free from pollution and poisoning.
- We strive for the achievement of millennium development goals for the human civilization
Corporate Governance involves decision making processes for any corporate body as a going concern for the benefit of all concerned, present and future. These decisions may be categorized as policy & strategic, operational and executing, performance & evaluation and sharing of the accretion assets between present & future cohorts. The involvement of the entrepreneur in all these areas invokes decision making
governance on a continuous basis, the degree of involvement being variable with the extent of delegation of authority top down and reporting for accountability bottom up of the Management echelon. These aspects of governance are shared by the Board of Directors, Executive Management, operational participants and workers and others in fulfillment of the common goals that converge in
increasing the benefits of all stakeholders. To this end entire corporate governance efforts are blended with “good governance practices” as ethically and morally acceptable standards under a given socio politico environmental phenomenon of our society in which we work, live and exist.
The organisms through which the corporate governance functions are carried out are:
BOARD OF DIRECTORS:
The Board of Directors, the top Management echelon, consisting of the founding entrepreneurs/ successors and an Independent Director, provides the policy and strategic support and direction for the entire range of the corporate activities. The Board of Directors consist of nine (9) members including the Independent Director with varied education and experience which provides a balancing character in decision making process. The Board is re-constituted every year at each Annual General Meeting when one-third of the members retire and seek re-election. A director is liable to be removed if the conditions of the Articles of Association and the provisions of the Companies Act 1994 are not fulfilled.
(b) Role & Responsibilities:
The main role of the Board of Directors, which is the highest level of authority, is to provide general superintendence, oversee the operations and control the affairs of the company through appropriate
delegation and accountability processes via the lines of command. However the Board of Directors hold the ultimate responsibility & accountability with due delligence for conducting the activities of the
company as per provisions of law in the interest of the shareholders, the stakeholders, the state and the society. The Board of Directors, in fulfillment of its responsibility hold periodic meetings, at least once a
quarter and provide appropriate decisions/directions to the Executive Management. Such meetings usually consider operational performance, financial results, review of budgets, capital expenditure
proposals for BMRE or new projects/divisions/product lines, procurement of funds by issue of shares or borrowing, procurement of raw materials, plant & machinery, pricing of products/discounts, recruitment, training and promotion of officers, approval of audited accounts and distribution of dividends and other interest of the stakeholders including the employees and workers. The Board of Directors take special care in designing and articulating productivity and compensation plans of employees and workers and rewarding them appropriately on the basis of quality and quantity of performance as an incentive. Board also remains responsible for removal of operational hazards to life and health of workers, friendly
environmental work condition and social relationship as demanded of good citizen in a country.
c) Relationship with Shareholders & Public:
The shareholders as owners, are required to be provided with material information on the company’s operation half-yearly and annually, the latter at the AGM. They are also provided routine services by the Company Secretary in matters of transfer of shares, replacement in case of loss or damage of shares, payment of dividends etc. The Board is however responsible to the public for publication of any price sensitive information as per SEC regulation. A qualified Chartered Secretary is in charge for all these responsibilities as Company Secretary.
(d) Relationship with Government:
In its role on accountability to the government, the Board of Directors ensure payment of all dues to government in the form of import duty, custom duty and port charges, VAT, Corporate Taxes and other levies as and when they become due on the basis of actual operations and make sure to avoid corruption. This has enabled the company to enhance its contribution to the National Exchequer on a progressive rate year after year.
(e) Relationship with Financers/Bankers:
The Board oversees the financial transactions and ensures to meet company’s commitments to the lenders without default. This has resulted in securing lower interest rates from them.
(f) Relationship with Suppliers:
As the company has to import plant and machinery and almost all the raw materials from abroad, it maintains cordial and mutually beneficial interest with its international as well as local suppliers. This has enabled the company to avoid any legal disputes in international/local courts and enhanced the company’s image as a good customer.
(g) Corporate Social Responsibilities (CSR):
The Board of Directors is also awoken of the Corporate Social Responsibilities (CSR) especially in the areas of gender equality, race-religion-regional equality, non-employment of child labour, human rights, environmental pollution, social-marketing, social activities (promotion of sports & culture, health care and population control programs, elimination of corruption programs, participation in charitable activities etc. in non-partisan manner) right to form and participate in Union under ILO convention, employment of disableds etc.
Year of Establishment (Initially as a Partnership) : 1958
Incorporated as a Private Limited Company : 1964
Technical Collaboration Agreement with
Janssen Pharmaceuticals of Belgium
( a subsidiary of Johnson & Johnson International Ltd. ): 1975
Technical Collaboration Agreement with
F. Hoffman-La Roche & Co. Ltd. : 1984
Converted into Public Limited Company : 1991
Initially Public Offering (IPO) : 1994
Stock Exchange Listings : 1995
Agreement with M/s. Bovis Tanvec Ltd. of UK for
implementation of Dhaka Plant : 1996
Awarded ISO-9001 Certificate : 1998
Awarded UK-MHRA Certificate : 2007
Business Lines : Manufacturing and Marketing of
Pharmaceutically Finished Product
Basic Chemicals, AgroVet
and Pesticide Products
Authorized Capital : Tk. 5,000 million
Paid-up Capital : Tk. 894.24 million
Number of Employees : 3,564
|Subsidiary Company Square Spinning Ltd.|
Square Spinnings Ltd.
Square Cephalosporins Ltd. Square Biotechs Ltd.
Associate Company Square Textiles Ltd.
Square Knit Fabrics Ltd.
Square Fashions Ltd.
Square Hospitals Ltd.
CORPORATE OPERATIONAL RESULT:
Figure in thousand : BDT
Figure in thousand : US$
Square pharmaceuticals is already supplying products to the following markets:
Asia: Afghanistan, Bhutan, Cambodia, Hong Kong, Korea, Macau, Malaysia, Myanmar, Nepal, Papua New Guinea, Sri Lanka, Tajikistan, Vietnam, Yemen
Africa:Comoros Island, Gambia, Ghana, Kenya, Libya, Malawi, Mauritius, Mozambique, Niger, Sierra Leone, Somalia, Sudan, Tanzania
South America :Belize, Costa Rica, Guatemala.
Square pharmaceuticals is also supplying to the UK further to the approval of its general plant by the MHRA.
Markets under Exploration
Asia:Iran, Kuwait, Laos, Maldives, Philippines, Qatar, Saudi Arabia, Thailand, UAE
Africa:Algeria, Botswana, Chad, Ethiopia, Ivory Coast, Mauritania, Nigeria, Rwanda, South Africa
South America:Jamaica, Chili.
- Strengthen its position in the present markets
- Work is in progress to enter into regulated markets in Europe and United States
Export Market Bangladesh, export pharma product from Bangladesh, Export finish goods, export pharmaceutical product Bangladesh
Square Pharmaceuticals is seeking other partners in Europe and the USA for general products, Cephalosporins, ophthalmic and small volume parenteral (SVP) products. The scope of a partnership could range from contract manufacturing to collaborative R&D. The company is well experienced in:
- Site transfer regulations
- Scale up products to commercial batches
- stability studies
Square can provide products manufactured under the highest quality standards at competitive supply prices and guarantee to a good supply chain management.
Message from The Chairman:
I wish the best in life to you all who have so kindly taken the trouble of assembling in the August occasion of the 42nd Annual General Meeting of your Company to consider and approve the Directors’ Report and Audited Accounts together with Auditors’ Repot thereon for the year 2007-2008 as placed hereunder.
Historical events in the country during the year under review have had different degrees of impacts not only on the life of individuals but also on the operational conditions of corporate bodies. The devastations caused by repeated floods and the SIDR had enormous effects on life and properties of the people with reduced purchasing power which was further adversely affected by serious level of price rises of almost all consumers goods leaving the poorer sector pauper. Though the exports, especially RMG sector grew by about 15.8% and reached USD 12 billion mark, import grew at 16.6% and reached USD 15.5 billion level. Remittance from wage earners had impressive growth of 24.5% reaching USD 5.98 billion with very positive impact on balance of payment. However, as the price of crude oil continues to move-up and up every day, the danger for Bangladesh which depends heavily on imports of fuel oil, looms large. This threat, is likely to have serious balance of payment and inflationary pressure, reduced purchasing power etc. with consequential impact on our sales and profitability. In order to survive from the possible crisis
pharmaceutical sector would need certain degree of support as follows:
(a) Investment for expansion units should be allowed tax holiday upto 2020.
(b) VAT should be withdrawn in totality if not reduced minimum 50% of the present rate from life saving drugs so that consumers’ price could be brought down.
The scenario, though appears apprehensive, is expected to change for better from the expected ensuing events in the country and abroad which might ease crude crisis in the international market having positive impact on our GDP with resultant contribution to effective growth in various industrial including pharmaceutical sector. We, therefore, should get neither disillusioned nor disappointed, but look for a better days ahead.
With best wishes to you all.
CORPORATE SOCIAL RESPONSIBILITIES:
As a corporate organization SQUARE has been involved with many kinds of social activities. Today they are working with all levels of people. They are thinking of the development of every sectors of people. They are involve with Pharmaceutical business, they have invest in the Textile, Spinning, they have consumer product, they have Hospital. They also giving the facilities of education.
SQUARE Pharmaceuticals Ltd. is one of the signatory of UN Global Compact in Bangladesh . SQUARE supports global business community to uphold social issues in business operations and being convinced of the benefits which will accrue out of voluntary adherence to universally recognized social values in transaction of businesses.
SQUARE consider the interests of customers , employees , shareholders , communities , and ecological considerations in all aspects of their operations. This obligation is seen to extend beyond their statutory obligation to comply with legislation.
SQUARE’s activity goes well beyond the sphere of business. As socially conscious and responsible corporate body SQUARE is committed to the improvement of the society as a whole. SQUARE is involved in the welfare program of the acid burn victims and the SQUARE sponsored Meril-Prothom Alo festival has become a national calendar event. SQUARE helps many NGO’s in there effort to make available healthcare to the disadvantage population of the Country. It sponsors programs to build awareness on the healthcare need. SQUARE is also a major sponsor of sporting events in the country.
SERVICES THEY PROVIDE:
The services that SQUARE Corporate Group provides to the society are:
- They are providing very profitably investing opportunity to the investor.
- They are always launching many kinds of consumer products and medicines every time for the public.
- They are creating a huge number employment opportunities for the people.
- They are providing educational facilities to the people.
- They are providing excellent treatment facilities in the hospital.
- They are making awareness among general people by many ways to make them conscious to build up their ethic.
- Every year they are paying a huge number of tax to the government.
- They are taking care about the environment during their production.
- They always ready to donate the disaster-affected people like flood, cyclone, tornado, etc.
We can classify the social responsibilities SQUARE follows all time by the below facts:
- Social service to the investors
- Social service to the customers
- . Social service to the employees
- Social service to the government
- Social service to the community
- Social service to the nation, etc
Social service to the investors:
SQUARE Corporate Group has a huge range of investment. They have Textile mils, Spinning mils, Fabrics, SQUARE Toiletries, Pharmaceutical Business, etc. Moreover, most of the investments are well known to all. Therefore, it is safe to invest with them in their investment. It will be more profitable for all. In addition, the capital will remain safe. People, who invest in share of SQUARE in the stock exchange, can make a proper use of their untapped wealth and expand their range of business.
Social responsibilities to the customers:
SQUARE Corporate Groups always make their main goal is to satisfy the customers. They keep this matter in the top of their head. They are always providing high quality products in the markets for the customers. They also keep the range of the price of the products in a reasonable rate so every level of people can borrow it. Besides this they are always making investigations to meet the demands of the customers. About their needs, etc.
They are innovating new and new products for the customers by keeping similar to their needs, demands, satisfactions, etc. they are engage with many consumer products like soap, facial cream, lotion, talcum powder, tooth paste, food product, etc.
Their most popular well-known products are Meril Soap, Meril Toothpaste, Meril Talcum Powder, Meril Body Lotion, Meril Face Cream, Radhuni Food Products, etc.
All these products are very known to us. All of it contain maximum of the needs, demands and satisfactions. All of this products world class quality. Thus, SQUARE fulfill the desire of the customers.
Social service to the employees;
The organization of SQUARE has a huge range of business. They are involved with Pharmaceutical business, Textile business, Spinning mils, Cosmetics, Food products, Trilateral industry, Hospital, etc. and all of those sectors create the employment for a lot of people.
They are providing sufficient wages to the employees. Fulfill their social, economical and physiological needs and demands. Maintain a very effective labor management relation system in all of it’s sectors. SQUARE has a very good and favorable working environment of their organizations. There isn’t any political harassment, or groping problems. The employees can work freely.
SQUARE provide some very useful training facilities to their employees. their Training & Development enables their people to enhance their skills, keep them updated with recent changes. They offer both on-the-job and off-the- job at both theoretical and practical training opportunities through a range of Local, Regional and International Training programs that include both functional and managerial levels on the basis of Training Need Assessment. Training Need Analysis (TNA) is conducted by Department Heads and Human Resource Department jointly on the basis of job analysis.
Management Development Training:
Round the year, management development training is organized for managers & executives at our Corporate Headquarters, Dhaka Unit & Pabna Unit. Their own and renowned resource persons from home & abroad conduct the training sessions. They also send our employees to renowned local training institutes for specialized training.
They send their employee to abroad for training program depending on availability of appropriate topics. Technical persons of their factories attend the Factory Assessment Test (FAT) in various parts of the world for smooth operation of equipments.
Field Forces Training & Development:
Each year, a significant number of Field Forces complete their induction training program and joined to their respective markets and appear at examination in every month for further development.
Field Forces Refresher Course:
For updating product knowledge and selling skills of field forces, Refresher Course is organized in four different regions in every month.
Territory Manager Training:
Twice in every year, mid-level managers of sales participate in the training program titled “Sales Territory Management” at a regular basis.
Every year a number of Distribution Assistants (DA), Data Entry Operators (DEO) go under induction training program immediately after initial recruitment. Each month, Refresher course for DA, Driver and Packers is organized in two different depots for updating their knowledge.
So, we can see that how SQUARE serve and train their employees to increase their skill and to develop their living standard.
Social responsibilities to the government:
SQUARE Corporate group is one of the most leading business organization in the country. They are doing their business activities by the rules and the regulations of the country. They have a huge business range. They are earning a huge profit every year. And on the profit they are giving a huge number of tax every year. So, the government also getting service. Beside this they are helping the government by supplying many useful information, data to make important decision for the country. SQUARE is also ensuring the security of the society and the state. They are claiming to various public agencies.
Social responsibilities to the community:
SQUARE is creating a huge scope of employment opportunity every year. Today a large number of the whole civilizations are working under this organization. Therefore, it is reducing the unemployment from the country. Beside this SQUARE is always trying to invent more opportunities to increase the quality of their products. They are increasing their productivity.
They also are looking after the environment. They are following such ways so that the environment will not be polluted. They are making people awareness to keep the environment safe.
Social responsibilities to the nation:
SQUARE is incoming a huge number of foreign currency every year for the nation. Thus, they are increasing the total wealth of the nation. Beside this they are also donating the natural calamity. They are ready to help the deserter affected people at any time. they are doing their activities all over the country and always trying to reduce the waste of wealth.
Besides all this responsibilities they are also operating many other social activities like organizing sports, they organize many social programs. They have institute many library. They have also established some KinderGardenSchool for the children. They are giving medical facilities.
SCOPE OF THE STUDY:
The report we made on SQUARE Corporate Groups Ltd. Was by a little scope. Our scope of the study is limited into just searching the net. We have get maximum of the information from the web site of SQUARE. Beside this, we have collected some little information from asking some people of the SQUARE group.
OBJECTIVES OF THE STUDY:
The major objectives of our study are given in the following:
- To getting the practical experiences beside the bookish knowledge.
- To make ourselves more confident and active in future life.
- To see as a corporate business how does SQUARE operates their duties.
- To see how they maintain their social responsibilities and activities.
- To see is there any kind of limitations or weakness in their operations.
- If there is any weakness and limitation, how can they remove those problems.
So, these are the objectives of our stubby on SQUARE. And we have succeeded to make our study successful in it.
FINDINGS AND ANALYSIS:
After completing the survey the data was analyzed by us and then the findings were made. Based on the findings the present situation was explained and recommendations was made.
Services of SQUARE:
- They are working hard for the development of the nation.
- They are incoming a huge number of foreign currency every year.
- They are creating a large number of employment opportunities to reduce the unemployment.
- They are serving their employees with many kinds of facilities like training, promotion, favorable working environment, etc.
- They are inventing and creating many types of consumer products for the customers.
- They are engage with the donating process during any kinds of natural disaster.
- They are helping the government by paying a huge sum of tax and providing important information for economic progress.
- They are creating many kinds of investment opportunities of the investors. etc.
Limitations of SQUARE:
Besides the services SQUARE have some little limitations in their service field from our point of view. And the limitations are:
- Their medical service is quite expensive. So the people from the poor section is unable to bear the expense.
- They have some contribution in education but they do not emphasize in the female education.
- They do not have much contribution in the handicraft for the poor section people in the village.
That’s all about our findings and analysis about SQUARE Corporate Group Ltd.
From the findings and analysis of the study on SQUARE we can recommend them:
- If they reduce their medical expense or make a separate treatment facilities for the poor people, then it would be very helpful for them.
- If they create some education opportunity for the women then it would be much benefited for the women education.
- If they create some opportunity of handicraft for the village rural people then it can make a way of income for them, especially for the housewives.
So, this is our recommendation about SQUARE’s limitations. If they make the overcome of their little limitations they can be a perfect corporate business of the country.
Therefore, we can say that SQUARE Corporate Group of Bangladesh is playing a very vital role in the economy development, social development, creating employment, working for the disaster affected people, and many other useful activities for the nation. They are helping the government by working with them to hand to hand and paying a huge amount of tax yearly. They are creating profitable opportunities for the investors. They are satisfying the customers by their consumer’s products both in domestic and abroad. They are incoming a large number of foreign currency for the nation. They are looking after the environment by following certain rules and regulations of the government. So, instate of their little limitations SQUARE Corporate Group is still playing a major role to serve the society and the nation.