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19	19	The company runs 724 dealers across the country besides the largest retail chain for consumer electronics and home appliance. The dealers facilitate supply of the Singer products alongside the other brands to the consumers.
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	21	+== The acquisition ==
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	23	+Arçelik A. S. has acquired 57% stake of Singer Bangladesh Limited in 2019. The company is an Istanbul-based home appliance company. The price of the transaction has been $75 million. Arçelik was founded in 1955 and has operations consumer durable goods industry and production. Rest of the shares of Singer Bangladesh Limited is held by the public (43%).
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	25	+== Corporate directory ==
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	27	+Dr. Fatih Kemal Ebiclioglu is the chairman of the Board of Directors of the company. Operational head of the company is M. H. M. Fairoz, the Managing Director & CEO. Akram Uddin Ahmed is the Chief Financial Officer of the company. A. Qasem & Co. is the auditor of the company. Registered office of the company is located in 39 Dilkusha Commercial Area, Dhaka-1000 and corporate office is in 5B, Road No. – 126 Gulshan-1, Dhaka-1212. Manufacturing site of the company, Singer Manufacturing Complex (SMC), is located in Rajfulbaria, Jhamur, Savar, Dhaka-1347. The company has a subsidiary namely International Appliances Limited located in Koulashur, Hemayetpur, Savar, Dhaka-1348.
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	29	+== Amalgamation with International Appliances Limited (IAL) ==
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	31	+International Appliances Limited (hereinafter referred to as the “Transferor Company” or “IAL”) was incorporated on 23 December 2014 under Companies Act 1994 as a joint venture with a local investor and another foreign investor. It has been an associate of Singer Bangladesh Limited (SBL) since inception. SBL acquired the Company as a subsidiary on 16 October 2017. On 27 February 2019 it became fully owned subsidiary of Singer Bangladesh Limited. The address of the registered office of the Company is Mousa Koulashur, Hemayetpur, Savar, Dhaka, Bangladesh.
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	33	+IAL was incorporated for the purpose of carrying on the business of manufacturing and selling of refrigerators of different capacities, models and types with a brand of “Singer” for exclusive marketing by Singer Bangladesh Limited. The manufacturing plant of the Company is situated at Mousa Koulashur, Hemayetpur, Savar, Dhaka, Bangladesh.
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	35	+As per the Judgment and order dated 01.02.2021 passed by Hon’ble High Court Division of the Supreme Court of Bangladesh in the Company Matter No. 167 of 2020, acquisition date was March 14, 2021. Singer Bangladesh acquired 100% of voting interest of IAL.
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	37	+The cited benefits of the amalgamation include increase in strength of Singer Bangladesh Limited (the transferee), achieving larger product portfolios, economies of scale, efficiency, optimization of logistics, improve synergies, and increase distribution network. Apart from that the transferee company will be able to optimize the cost minimizations. The benefits of the shareholders, employees, and creditors will increase compared to what would have been as separate entities. Earning per share will also increase for the shareholders. The employees of IAL will continue their employability and will keep lending their expertise to the transferee company.
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	39	+== Company in numbers ==
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	41	+Singer has 424 retail outlets country-wide. Among these stores, 25 are MEGA stores, and 399 are Singer Plus stores. The company has 1088 Singer Pro dealers country-wide. Singer group staffs stood at 1767 as on the financial year 2020.
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	43	+== Mission, Vision and Objectives ==
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	45	+Philosophy of the management is to work for the betterment of the society. Vision of the company is to be the most admired and respected family company in the country. Mission of the company is the improve the quality of life of the people by providing comforts and conveniences at affordable prices.
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	47	+Objectives of the company are stated below –
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	49	+* To be the market leader in our product range and market segment.
	50	+* Provide our consumers with the best services and shopping experience in the country.
	51	+* Provide our consumers with products of latest technology.
	52	+* Develop our employees to achieve their real potential.
	53	+* Provide our shareholders with steady asset growth and return on investment above the industry norm.
	54	+* Grow our revenue and profits at a rate above the industry norm.
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