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53	53	* Provide our shareholders with steady asset growth and return on investment above the industry norm.
54	54	* Grow our revenue and profits at a rate above the industry norm.
55	55
	56	+[[image:Objectives of the company .png||alt="Company objectives" height="506" width="543"]]
56	56
	58	+The company segregates its values in the following way –
57	57
58		-
	60	+**Consumers**
	61	+
	62	+We live up to the expectation of a responsible organization by contributing towards the improvement in the quality of life of our customers through outstanding product and services.
	63	+
	64	+**Employees**
	65	+
	66	+We respect each other as individuals and encourage cross functional teamwork while providing opportunities for career development.
	67	+
	68	+**Shareholders**
	69	+
	70	+We provide reasonable return to shareholders while safeguarding their investment.
	71	+
	72	+**Suppliers**
	73	+
	74	+We develop our suppliers as partners in progress and share our growth with them.
	75	+
	76	+**Competitors**
	77	+
	78	+We respect our competitors and recognize their contribution to market value.
	79	+
	80	+**Community**
	81	+
	82	+We conduct our business by conforming to the ethics of our country and share the social responsibility of the less fortunate.
	83	+
	84	+**Environment**
	85	+
	86	+We make every effort to ensure that the environment is protected and conserved for future generations.
	87	+
	88	+[[image:Values of the company .png||alt="Values of the company" height="543" width="550"]]
	89	+
	90	+== Ownership structure ==
	91	+
	92	+As per the year ended on 31 December, 2020, the company had 250 million ordinary shares authorised of Tk 10 each. A year earlier, the company had 100 million shares. The company has 997 million shares issued and paid-up, which was same for the previous year as well. Retail Holdings Bhold B.V. of the Netherlands holds 36.89 million ordinary shares and 19.93 million non-remittable shares (57% stake). Local shareholders hold 42.88 million shares (43% stake).{{footnote}}Annual report 2020, p.7 {{/footnote}}
	93	+
	94	+[[image:Ownership structure.png||alt="Ownership structure of the company" height="240" width="400"]]
	95	+
	96	+|Operation started|1905
	97	+|Stock market listing|(((
	98	+1983 (DSE)
	99	+
	100	+2001 (CSE)
	101	+)))
	102	+|Ownership structure|(((
	103	+80% by Singer Sewing Machine Company (SSMC)
	104	+
	105	+20% by general public
	106	+)))
	107	+|Product portfolio|Refrigerators, LCD/LED TV, Color Televisions, Furniture, Air Conditioners, Fans, Washing Machines, Irons, Microwave Ovens, Rice Cookers, Motorcycles, Instant Power supply, Room Heaters, Air Coolers, Kitchen Appliances, Netbook, Laptop, Desktop Computers, Generators.
	108	+|Address|Singer Bangladesh Limited
	109	+5/B, 126, Gulshan-1, Dhaka,
	110	+Bangladesh 1212
	111	+|Subsidiary|International Appliances Limited
	112	+|Company size|1,767 employees
	113	+
	114	+= Industry Overview =
	115	+
	116	+The consumer durable goods market of Bangladesh currently stands at $2.35 billion and the industry has enjoyed a CAGR of roughly 14% in the years 2016-2020.{{footnote}}https://ucbaml.com/bangladesh-consumer-durables-outlook/{{/footnote}}
	117	+
	118	+The industry is expected to grow at a rate of 17% and achieve a position of $10 billion by 2030, according the market analysts.
	119	+
	120	+If the products of the industry are divided into five categories – refrigerator, television, air conditioner, washing machine and kitchen appliances, Walton leads the market in first two categories while General leads the third and Samsung the rests.{{footnote}}https://ucbaml.com/bangladesh-consumer-durables-outlook/{{/footnote}}
	121	+
	122	+[[image:Market share.png||alt="market share of companies in the industry" height="308" width="600"]]
	123	+
	124	+== Industry demand drivers ==
	125	+
	126	+Electricity production in the country is a major driver of the industry growth. In the country, about 99% of the population is brough under electricity coverage. Electricity production capacity of the country is currently about 25,000 MW but it will reach as high as 35,000 MW by 2030, as the country march forward to achieving its vision 2041. As electricity keeps easing the lifestyle of the people, the consumer durables are sneaking into the life of them to accelerate the easiness.
	127	+
	128	+The second important growth driver of this industry is the increase in more disposable income of the people. As the economy grows, the people are enjoying the benefits of higher disposable income. Currently, per capita income of the country is $2,597.
	129	+
	130	+The socio-economic condition of the country is also changing. Two aspects of it can be focused – participation of more women in the workforce, and increase in nuclear family. As women are becoming more interested in career, the need of ease in doing house chores is becoming more ardent. Therefore, they are turning to purchasing the consumer durables. Also, in the nuclear families, the demand of these products is high.
	131	+
	132	+== Industry supply drivers ==
	133	+
	134	+Product diversification, rise of dispersed consumer classes and eases in financing has enhanced the ability of the companies to increase supply of the products. Since the demand of the products is flourishing, it is normal that the supply will also increase. Government policies such as tax exemption for 10 years of the new companies in this industry, VAT exemption on production of washing machines and kitchen appliances, reduction of advance tax from 4% to 3% on raw materials import.
	135	+
	136	+From the relaxed government policies, the companies will be able to ramp up the local production at competitive prices. Also, the market players such as Walton and Singer will be benefitted from reduction in import duty of their raw materials – these companies import raw materials from abroad and assemble them. Technological advancement drives down the prices ever, which plays a significant role in improving condition of the supply side of this industry. Economies of scale and technological advancement has chased the price down and drove the demand up. Also, access to banking services of mass people in the country and mobile financial services has caused purchasing habit of the people to change.
	137	+
	138	+The future of this industry is bright. The government is eying setting up of 100 economic zones (EZ) in the country. The rapid industrialization of the country will require support of the consumer durables industry as the people will be moving towards advance economy. Also, the production sites of the companies in this industry will be set up in those zones to ensure efficient production costs thus affordable prices.
	139	+
	140	+
	141	+
	142	+
	143	+{{putFootnotes/}}