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Keya Group

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Keya Group
Company typePublic
DSE: KEYACOSMET
CSE: KEYACOSMET
IndustryConsumer goods
Founded1996; 28 years ago (1996)
FounderAbdul Khaleque Pathan
HeadquartersDhaka, Bangladesh
Area served
Bangladesh
Key people
  • Abdul Khaleque Pathan (Chairperson)
  • Khaleda Pathan (Managing Director)
  • Homaun Kabir (CFO)
Products
Brands
List
    • Keya Cosmetics Limited
    • Keya Europe
    • Keya Cotton Mills
    • Keya Knit Composite
    • Keya Agro Process Limited
    • Keya Yarn Mills Limited
    • Keya Spinning Mill
    • Knit Composite Division
RevenueDecrease ৳9.01 billion (US$75 million)(FY 2020)
Increase ৳1.83 billion (US$15 million)(FY 2020)
Increase ৳236.38 million (US$2.0 million)(FY 2020)
Total assetsIncrease ৳22.66 billion (US$190 million)(FY 2020)
Total equityIncrease ৳209.3 million (US$1.7 million)(FY 2020)

Keya Group (Bengali: কেয়া গ্রুপ) is a Bangladeshi diversified conglomerate based in Dhaka. The company was founded by Abdul Khalek Pathan in 1983. It is one of the largest cosmetic brands in Bangladesh.[1]

History

[edit]

Keya Cosmetics Limited was established in 1996.[2] Its founder and chairperson is Abdul Khaleque Pathan.[3] It paid 10 to 50 percent dividends on its stocks in 2001.[3]

Keya Detergent Limited and Keya Soap Chemicals Limited were merged with Keya Cosmetics Limited in 2010.[3] Keya Soap Chemicals was the only company not listed on the Dhaka Stock Exchange.[4]

Keya Cosmetics announced that it will sponsor Suhrawardy Cup National under-19 football championship.[5]

Keya Cotton Mills, Keya Knit Composite, and Keya Spinning Mills were merged in 2015 with Keya Cosmetics.[3] Bangladesh Securities and Exchange Commission initially opposed the move as the three companies were burdened with large liabilities while Key Cosmetics is listed on the Dhaka Stock Exchange.[6] The merger received approval from Bangladesh High Court.[7] In September 2015, about 500 Keya Knit Composite Limited workers felt sick after drinking water at the canteen.[8] 100 more workers fell sick a few days at the same factory.[8]

The company shares performed well in the Dhaka Stock Market in 2007.[9] The sponsor directors reduced shares from 62 percent to 46 percent in 2017.[3] They failed to offload further shares due to lack of demand.[3] The company shifted its office from Banani to Gazipur, where its factories are located, to reduce costs.[3] The company has 8.5 billion taka in long-term loans and 6.3 billion in short-term loans.[3] The same year Anti-Corruption Commission arrested the Chairperson of Keya Group, Abdul Khaleque Pathan, for allegedly embezzling 1.11 billion taka from Bangladesh Krishi Bank Limited.[10][11] Financial Reporting Council Bangladesh estimated that Keya Group had laundered more than 10 billion taka through their European subsidiary.[3]

In May 2018, Keya Group signed an agreement with Khulna University to research crab farming in Bangladesh.[12] Abdul Khaleque Pathan, his wife, Feroza Begum, and son, Tansin Keya, sold two billion taka worth of shares to pay off bank loans in 2018.[13] Keya also violated Dhaka Stock Exchange rules by not publishing their quarterly statements.[14] Four directors of Keya Group were fined on 24 July 2018 by Bangladesh Securities and Exchange Commission.[15]

Keya Group has 1.57 billion taka loan from Pubali Bank.[16] An investigation by Dhaka Stock Exchange found irregularities in the company's shares.[16] It had been suffering from financial problems.[16]

Sister Concerns

[edit]
  • Keya Cosmetics Limited[2] (Keya Soap, lifeguard, active toothpaste,[17] Super Saloon,[18] and Ice Magic[19])
  • Keya Europe[20]
  • Keya Cotton Mills[21]
  • Keya Knit Composite[21]
  • Keya Agro Process Limited[21]
  • Keya Yarn Mills Limited[22]
  • Keya Cotton Mills[23]
  • Khaleque Knitting and Garments Industries Private Limited[24]
  • Keya Spinning Mills[24]
  • Knit Composite Division[25]

References

[edit]
  1. ^ "The 10 Best Cosmetic Manufacturers in Bangladesh". Infoisinfo. Retrieved 2023-04-02.
  2. ^ a b "Keya Cosmetics Ltd – Keya Group". Retrieved 2021-06-01.
  3. ^ a b c d e f g h i "The stunning fall from grace of Keya Cosmetics, a once beloved brand". The Daily Star. 2020-08-07. Retrieved 2021-06-01.
  4. ^ "Keya plans merger of 3 units". The Daily Star. 2010-12-06. Retrieved 2021-06-01.
  5. ^ "Keya to sponsor U-19 football". The Daily Star. 1999-01-23. Retrieved 2021-06-01.
  6. ^ "Keya's merger move hits controversy". The Daily Star. 2014-02-14. Retrieved 2021-06-01.
  7. ^ "IPOs of Olympic Accessories, Keya Cosmetics get regulator's nod". The Daily Star. 2015-02-26. Retrieved 2021-06-01.
  8. ^ a b "100 RMG workers of Keya Group fall sick again". The Daily Star. 2015-09-13. Retrieved 2021-06-01.
  9. ^ "Investors gamble on Keya Cosmetics". The Daily Star. 2017-07-10. Retrieved 2021-06-01.
  10. ^ "ACC arrests Keya Group chairman". New Age. Retrieved 2021-06-01.
  11. ^ "Keya Yarn boss held over misappropriating Tk 111cr". The Daily Star. 2017-08-21. Retrieved 2021-06-01.
  12. ^ "Khulna University, Keya Group sign deal for crab industry development". Dhaka Tribune. 2018-05-23. Retrieved 2021-06-01.
  13. ^ "Keya Cosmetics share weighed down by sponsors' selloffs". The Daily Star. 2018-05-03. Retrieved 2021-06-01.
  14. ^ "Keya not publishing financial statements". The Daily Star. 2018-06-06. Retrieved 2021-06-01.
  15. ^ "BSEC fines Keya Cosmetics directors". Dhaka Tribune. 2018-07-24. Retrieved 2021-06-01.
  16. ^ a b c "Keya up the creek". The Daily Star. 2021-01-06. Retrieved 2021-06-01.
  17. ^ "Personal Care – Keya Cosmetics Ltd". Retrieved 2021-06-01.
  18. ^ "Men's Care – Keya Cosmetics Ltd". Retrieved 2021-06-01.
  19. ^ "Summer Care – Keya Cosmetics Ltd". Retrieved 2021-06-01.
  20. ^ "Keya Europe". www.keyaeurope.com. Retrieved 2021-06-01.
  21. ^ a b c "Keya Agro". keyagroupbd.com. Retrieved 1 June 2021.
  22. ^ "Keya Yarn Mills Ltd – Keya Group". Retrieved 2021-06-01.
  23. ^ "Keya Cotton Mills – Keya Group". Retrieved 2021-06-01.
  24. ^ a b "Keya Spinning Mills – Keya Group". Retrieved 2021-06-01.
  25. ^ "Keya Knit Composite – Keya Group". Retrieved 2021-06-01.
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