Labib Group has acquired Kung Keng (Bangladesh) Co Ltd, a Taiwan based dyeing factory with a spinning mill located at the Dhaka EPZ.
The move was taken as part of Labib Group's expansion and development plan in the textile industry of the country, said a press release.
Kung Keng (Bangladesh) Co Ltd, has been doing production and business in Dhaka EPZ for the last 27 years as a synthetic and acrylic spinning mill as well as a dyeing factory.
A share transfer ceremony was held at the head office of Standard Chartered Bank in Dhaka on 9 May.
Labib Group Chairman Salahuddin Alamgir, CIP; Vice Chairperson Sultana Jahan, CIP; DMD Pankaj Kumar Karmaker along with other officials attended the ceremony.
Managing Director Ling Feng Fu; Director Sieh Young Chin and Executive Director Tapan Kumar Majumdar of Kung Keng (Bangladesh) Co Ltd were also present.
And apart from the above, Managing Director Enamul Huque, Chief Executive Officer Naser Ezaz Bijoy along with some other Directors of Standard Chartered Bank and the high officials of its Audit Firm and Register Joint Stock Companies & Firms were present and graced the occasion.