MA Hashem Bio, Born, Age, Height, Facts, Family, News, Secrets, Trivia, Updates
- Name: MA HASHEM
- Status: Founder and current chairman of Partex Group. Partex Group is the biggest family-run conglomerate in Bangladesh. It consists of over 55 companies. The conglomerate was founded in 1959, that’s 59 years ago.
- Owner: MA Hashem is also the Founder of Janata insurance Company Ltd. And serves as its Advisor.
- Former: He is a former member of Parliament from the Bangladesh Nationalist Party.
- Place of birth: Noakhali, Bangladesh
- Spouse: MA Hashem’s wife is Sultana Hashem.
- Occupation: Business Man
Why MA Hashem is Legend of Bangladesh?
MA Hashem is one of Bangladesh’s finest businessman. His influence has been experienced in several businesses most notable are the Partex Group and Janata insurance Company. He’s also a known politician in Bangladesh. He served as a member of Parliament from the Bangladesh Nationalist Party. He served as a member of Parliament for Noakhali. Ma Hashem was in office for five years; from first (1st) of October 2001 to twenty-eighth (28th) in October 2006.
The Influential Partex Name
Partex Holdings was founded in 1959, today the group of companies is a leading conglomerate comprising more than 50 companies across diverse industries and sectors.
Over 50 years ago, Partex founder, MA Hashem had just lost his father; he knew he had to be able to support his mom and himself financially so he decided to venture into the business world as a tobacco trader. He needed capital for his new business; he was able to secure a small loan from his mother from her meager savings.
Over time MA Hashem’s business grew and by 1971 when Bangladesh declared its independence from West Pakistan, his tobacco warehouse in Chowmuhoni was packed full. This presented him the opportunity to grow is business even more. Shortly after, he began to experience exponential growth. This growth encouraged him to move to the commercial capital of Bangladesh, Chittagong. The relocation even brought greater success and more growth as he had hoped. Shortly, Ma Hashem began diversifying into imports of various consumer items and building materials – two of the most sought-after groups of products in the newly formed nation.
Shortly after Mr. Hashem moved to Chittagong, he found M/S Hashem Corporation Ltd. And quickly became known as a trading tycoon. However, MA Hashem the astute businessman realized that imports were merely a temporary solution to a permanent need and decided to make the switch to manufacturing. He went on to pioneer several industries of national importance in the newly established Bangladesh.
The Serial Manufacturer
Mr. Hashem would even try to solve the problem of importing some products by domestically producing the same products his company had been importing. In doing so, he would create the basis of a small new business empire that would bring greater value to the Bangladeshi economy, more jobs for local workers and greater self-sufficiency for the nation. Business was thriving and Bangladesh was progressing as a new nation.
Mr. Hashem later moved his business to Dhaka in the 1980s. Later acquired a struggling company; Star Particle Board Mills Ltd. From the government on auction, which he turned into a profitable company. Hence, the inception of the Partex Group.
Soon enough, Mr. Hashem started setting up new industrial units and diversified his business across multiple sectors both at home and internationally. With other business colleagues, he founded two new banks – City Bank Ltd. And the United Commercial Bank Ltd. – and Janata Insurance and Phoenix Insurance.
The companies constituting Partex Group are market leaders in nearly all sectors. These sectors include fabrics, furniture, food and beverages, sugar, plastics, paper, cotton, yarn, jute, real estate, shipping, media, education, services and IT, among many others. These companies have fostered successfully due to Mr. Hashem’s zeal, passion, commitment, unflinching dedication to quality, integrity, values, work ethics and services that have taken the group to the present height of success that has been attained.
Working in a competitive environment of the free market economy, the Chairman has played a pivotal role in promoting private sector entrepreneurship with new innovative ideas and translating them into action. Congruent with the Millennium Development Goals and guided by Mr. Hashem’s vision, Partex is one of the largest conglomerates in Bangladesh today.
“Ours is a free market economy. And the private sector as the engine of growth plays a key role in establishing the basic industrial base. We have been trying to play the role and contribute to the making of our GDP,” he says.
Having come from a modest background himself, Mr. Hashem has not forgotten his social responsibilities. He is closely involved in various social, religious, cultural, educational, humanitarian and health care-related activities. For example, he has established a good number of mosques, orphanages, clubs and philanthropic institutions. He is also the founding President of Noakhali Diabetic institution.
Together with some friends and colleagues, Mr. Hashem established North-South University, Bangladesh’s first private university and currently ranked number one in the country. He also founded M.A. Hashem Degree College in Noakhali.
Partex Holdings, along with Partex Star Group, is enormous yet still maintain the family-run appeal. Indeed, Mr. Hashem’s five sons have all proven their worth as heads of different subsidiaries in the holding and group: Rubel Aziz is Chairman of City Bank Ltd., Showkat Aziz Russel is Managing Director of Partex Denim, Aziz Al Kaiser is Vice-Chairman of Partex Star Group, Aziz Al Mahmood is Managing Director of Danish Condensed Milk Bd. Ltd., and Aziz Al Masud is Director of Partex Group.
Later on, The Partex Group split its business into two groups to improve management procedures.
Sultana Hashem, MA Hashem, and his two elder sons own one part, Partex Group. MA Hashem and their three other sons have retained different units of the rest of the company under Partex Holdings.
“We started the break-up process in 2006 and now it is complete,” Aziz Al Kaiser, the eldest son and vice chairman of the present Partex Group, said in an interview.
Kaiser, who is on his mid-40s, said there is no family feud among them. “The split was made for better management practices.”
Rubel Aziz, the youngest son and a director of Partex Holdings, said the decision was taken on amicable terms.
MA Hashem’s Success
MA Hashem has successfully grown the company to the extent of employing of 10,000 people.
Partex Holdings, under Hashem, owns Amber Cotton Mills, Amber Pulp and Paper Mills, Partex Beverage, Partex Plastics, Partex Real Estate, Star Vegetable Oil Mills, Star Coconut Mills, Dhakacom Ltd (ISP), Fotoroma, Partex Spinning, and Denim and Hashem Corporation (Pvt) Ltd.
Small, medium and large family-owned businesses dominate over Bangladesh’s $100 billion economies, which has been growing at over 5 percent a year since 1995.
Besides Partex, Akij Group, Nasir Group, Square, Ispahani, Abul Khair Group, ACI and PHP are some prominent family-owned businesses in the country.
Although large family-owned companies are usually split in different countries, it did not happen to that extent in Bangladesh.
“The break-up process started before 1/11 (January 11, 2007). I have done it for my necessity,” founder of the company MA Hashem said. “It is better to divide the business among the five sons before my death.”
Now, the new Partex Group dreams to grow faster in the local market, while Partex Holdings has focused on export markets.
“We’ll rebrand the name Partex Group and expand it,” said Kaiser.
Rubel Aziz said they own export-oriented companies of the former group except a few.
“Eventually, every brother will be separated in business,” he said.
The ACC Anti Corruption Commission Case
MA Hashem was arraigned by the ACC on counts of corruption before the Law. He faced interrogation in connection with an allegation of swindling out Tk 150 crore from Sonali Bank.
Very little is known about MA Hashem’s private life as he is a very private person but he’s widely known for his business acumen and journey. He has received several accolades and recognition from several organizations in Bangladesh for his service as a positive catalyst to the Bangladesh economy and a mass employer.