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Reviews for Grameenphone--GP--Annual-Report-2011
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This is Grameenphone November 11, 1996 Awarded operating license in Bangladesh by the Ministry of Posts and Telecommunications. March 26, 1997 Launched its service on the Independence Day of Bangladesh. November 11, 2009 Successfully listed on the Stock Exchanges in Bangladesh. After fifteen years of operation More than 35 million subscribers and around 87 thousand Shareholders as of December 2011 are now empowered under a single network and touched by the magic of closeness. Annual Report 20102/03 More than subscribers History & Grameenphone Milestones 2011 Launched ‘My zone’- location based discount on usage, Micro SIM cards for iPhone, Spondon Package with 1-sec pulse; Grameenphone Branded Handset (C200, QWERTY handset ‘Q100’ and Android Handset ‘Crystal’), Customer Experience Lab, eCare solution; 2010 Completed swapping of 7,272 nos. of BTS; Launched New Tariff Plan, ‘MobiCash’ Reached 36.5 Million Subscribers Financial Service Brand, Ekota for SME, Baadhon Package, Mobile Application 2009 Development Contest & Network Listed on Dhaka Stock Exchange Ltd. and Campaign; Chittagong Stock Exchange Ltd.; Reached 29.97 Million Subscribers Launched Internet Modem, Special Olympic Regional Talent Hunt, Stay Green Campaign, Internet Package P5 & P6, Grameenphone Branded Handset & Studyline; 2008 Introduced BlackBerry Service; Reached 21 Million Subscribers Commissioned Brand Positioning & launched Stay Close & Customer Care 2007 Campaign; Converted to a Public Limited Company; Reached 20 Million Subscribers Re-launched Business Solutions; Launched New VAS, Bull Stock Information, Missed Call Alert & PayForMe Service; 2006 Re-branded djuice; Launched HealthLine, Smile Prepaid & Xplore Postpaid, Cellbazaar, Business Reached 16 Million Subscribers Solutions for Business Class & Community; Introduced new GP Logo Following Maiden 2005 Decade of Operation; Launched Electronic Recharge System, djuice Reached 10 Million Subscribers Brand Targeting Youth Segment, EDGE & Voice SMS for the first time in Bangladesh; Reached 4 Million Subscribers 2004 Reached 2 Million Subscribers 2003 Launched Prepaid Product with PSTN Connectivity; Reached 1 Million Subscribers 2002 Achieved BD Business Award for “Best Joint Venture Enterprise” 2001 Launched WAP Service 1999 Launched First Prepaid Service in the Country 1998 Launched Mobile to Mobile Service (without PSTN Access) 1997 Commenced Operation on the Indepen- dence Day of Bangladesh 1996 Incorporated as a Private Limited Company Annual Report 2011 04/05 Products & Services Enterprise Value Added Adjacent Prepaid Postpaid Internet Solution Services Roaming Device Businesses (VAS) Xplore Minipack Pay Per Use Postpaid Wholesale Shohoj (Max 20 Tk./Day) Business SMS Roaming Handset Business* Business Prepaid Financial Apon Solutions Pay As You Go (P1) Roaming Modem Services** Heavy Internet Bondhu Ekota browsing Package International SMS (P2) NightTime Heavy Baadhon GP Public Phone International MMS Internet browsing Package (P3) Spondon Internet SIM 150 MB Daily Pack (P4) Adjusted djuice 3 GB Monthly Pack (P5) Call Block Power Menu djuice 1 GB Monthly Pack (P6) Instant Messaging StudyLine Business Solutions 15 MBMinipack (P7) Sports News Web SMS Ekota 99 MB Minipack (P9) Cellbazaar SMS& VoiceChat Smile 3 MB Minipack (P10) * In compliance with BTRC guidelines, GP Mobile Backup Career Service is sharing its passive infrastructure with GP Public Phone 1 MB Minipack (P11) other operators under “Wholesale HealthLine GP World Village Phone Business”. BalckBerry E-Bill ** Introduced different “Financial Internet SIM Directory Service Team Tracker Services” in electronic ticketing, bill collection, electronic lottery and NewsService Missed Call Alert remittance disbursement under the brand “MobiCash”. Welcome Tune Vehicle Tracking Messaging Pay for Me Mobile Reporting Buddy Tracker Games & Apps Stock UpdateBull GP Connect Ringtone Download Entertainment Box Full Song Download Religious Service Music Radio Infotainment (Stock, Co-branded opera Transport, Beauty Tips) mini Internet Security Accolades in 2011 Grameenphone has gained immense recognition and popular acclaims for its phenomenal performance in 2011 by rewarding the following awards: 1. SAFA award for ‘Best Presented Accounts and Corporate Governance Disclosures Awards 2010’ 2. ICAB award for ‘Best Published Accounts & Reports 2010’ 3. ‘Emerging Market Service Provider of the Year’ for its 2010 business performance by Frost & Sullivan 4. ‘HSBC-The Daily Star Climate Awards 2011’ for its ‘Building a Greener Network initiative’ 5. ‘Asia Business Continuity Award-2011’ by Business Continuity Institute (BCI) 6. ‘Best Telecom Brand Award 2010’ by the Bangladesh Brand Forum and Nielsen Bangladesh 7. ‘Best Employer Award 2010’ in the telecom sector presented by bdjobs.com 8. ‘ICMAB Best Corporate Award 2011’ for sound financial health and major contribution towards the socio-economic development of the country 9. ‘Best Business Assurance Effort’ by Telenor Global Business Assurance Community Annual Report 2011 06/07 connected through internet every month Performance at a Glance - 2011 (Consolidated) Figures in BDT Revenue89.1 Bn growth 19% Gross Pro51.2 Bn growth 32% Operating Profit6 Bn growth 61% Profit Before33.0 Bn growth 58% Net Profit After Taxn growth 76% NOCF Per Sha30.09 growth 30% NAV Per Share8.80* growth -23% Earnings Per Share99 growth 76% NAV- Net Asset Value; NOCF- Net Operating Cash Flow * Adjusted as per note 29.1 to the Financial Statements Annual Repor08/091 Corporate Information Company Name Grameenphone Ltd. Company Registration No. C-31531 (652)/96 Legal Form A public listed company with limited liability. Incorporated as private limited company on October 10, 1996 and subsequently converted to a public limited company on June 25, 2007. Listed on the Dhaka and Chittagong Stock Exchange Ltd. on November 11, 2009. Board of Directors Health, Safety, Security & Environment Committee Chairman Per Erik Hylland (Chairman) Sigve Brekke M Shahjahan Dr. Mohammad Shahnawaz Directors Hasanur Rahman Rakib (Secretary) M Shahjahan Hakon Bruaset Kjol Management Team Nurjahan Begum Tore Johnsen, Chief Executive Officer Per Erik Hylland Raihan Shamsi, Deputy CEO & Chief Financial Officer Md. Ashraful Hassan Tanveer Mohammad, Chief Technology Officer Morten Tengs Arild Kaale, Chief Marketing Officer Lars Erik Tellmann Mahmud Hossain, Chief Corporate Affairs Officer Independent Director Kazi Monirul Kabir, Chief Communications Officer Haroon Bhatti, Chief People Officer Dr. Jamaluddin Ahmed FCA Company Secretary Head of Internal Audit Hossain Sadat Emadul Hannan Audit Committee Statutory Auditors M Shahjahan (Chairman) Rahman Rahman Huq Per Erik Hylland Chartered Accountants Dr. Jamaluddin Ahmed FCA Emadul Hannan (Secretary) Legal Advisors Hasan & Associates Sheikh & Chowdhury Treasury Committee M Shahjahan (Chairman) Pal Stette Registered Office Raihan Shamsi GPHouse Imdadul Haque (Secretary) Bashundhara, Baridhara Dhaka-1229, Bangladesh Human Resources Committee Per Erik Hylland (Chairman) M Shahjahan Haroon Bhatti Hossain Sadat (Secretary) Business Review - 2011 One of the major always been a strong point for GP and keypad was also introduced in 2011. seen as the best network by the mobile initiatives of 2011 was Making Internet affordable for general phone users in Bangladesh. To retain people has been one of the focal areas the network this position, GP decided to upgrade its upgradation. Network for GP in 2011. In this regard, it has entire network with future proof introduced several affordable internet has always been a technology. A total of 7,272 base packages namely Minipack 99MB, 15MB, stations were modernized and upgraded strong point for GP and 3MB and 1MB. These packages were seen as the best to enhance GP’s network in less than a designed to cater to the needs of the year. network by the mobile customers who generally use internet The modernized network will make it through mobile phone. GP also phone users in partnered with ‘Opera’ software to Bangladesh. To retain easy for GP to facilitate 3G technology and broadband services. Moreover, the introduce a customized version of Opera this position, GP simplified network infrastructures willMini, a mobile web browser for GP decided to upgrade its enable the Company to offer a range of customers. different services to its valued entire network with GP also arranged a countrywide internet future proof technology. customers. awareness campaign in cooperation with The Company has so far invested more the Daily Prothom Alo. ‘Grameenphone A total of 7,272 base than BDT 17,093 crore to build the Prothom Alo Internet Utshob’ was stations were network infrastructure since inception.designed to make aware the students modernized and Over BDT 1,296 crore was invested and their parents about usefulness of upgraded to enhance during 2011 alone. internet in their daily life. GP’s network in less To make the internet experience even than a year. Innovation and Useful Products better for the customers, GP also and Services introduced ‘Grameenphone Crystal’, a A year of Consistent Business In the products and services side, the low cost Android handset. The handset Performance Company introduced ‘My Zone’, first of was bundled with free internet usage, its kind in Bangladesh, which offers SMS, MMS and other value added Grameenphone completed 2011, services. retaining its position as market leaderdiscount on call tariff depending on amid fierce competition and regulatory customer’s location. For the subscribers without internet turmoil. During the year, GP introduced its firstonnection, GP launched Facebook ever 1 second pulse Prepaid package SMS, which allows the subscribers to use 2011 was a very important year for the Company as the existing operating ‘Spondon’. The price plans for prepaid basic functionalities of Facebook while license fell due for renewal. package ‘Apon’ and ‘Bondhu’ have also they are offline. GP also partnered with Facebook to run an awareness campaign The process got delayed by legal been modified for greater benefits of the customers. to expedite the Bangla translation of the complicacies due to disagreement over social networking site. the payment of the license fees. The To serve the rural population, GP introduced a very affordable GP brandedAs an innovative company, GP court’s decision in this respect will introduced Digital Right Management facilitate the license renewal. handset named ‘C200’ in 2011. With a user friendly interface, a built-in torchRM) platform, which encouraged GP took a good number of initiatives some of the most prominent that made the year a very successful light, FM Radio, long lasting battery and both Bangla and English menu. GP Bangladeshi musicians to launch their one. continued its efforts to make telephonynew albums through mobile phone One of the major initiatives of 2011 waaffordable in rural areas. Another exclusively for GP subscribers. The DRM the network upgradation. Network has handset named ‘Q100’ with QWERTY platform protects the right of the artists Annual Report 2011 10/11 and musician over their content & music. million new subscribers in 2011, amid (NLASO). Under this initiative, GP is fierce competition. helping NLASO to launch call-center BusinessIn 2011, GP has partnered with Southeast Bank and Premier Bank to referral services, which will make legal GP continued to be the largest information easily accessible to people launch foreign remittance service. This Corporate Tax payer of the country. In who are unable to afford legal support. will help the migrant workers to send 2011, GP has paid to Bangladesh money to their family in a secured and Government BDT 6,015 crore as direct GP’s Green initiatives have also been efficient way. Under the ‘MobiCash’ taxes, VAT and duties, and in fees paid to recognized best among the telecom platform, the Company has arranged the Bangladesh Telecommunication operators in Bangladesh and the several government approved M-lottery, Regulatory Commission (BTRC). GP has Company was awarded with ‘HSBC -The which enabled the customers to buy contributed BDT 24,517 crore to the Daily Star Climate Awards 2011’. The lottery tickets through their mobile National Exchequer since its formation Company is using one of its solar phones. in 1997. powered base stations in Sunamgonj district to provide electricity to the 136 Better Customer Experience For a Brighter Tomorrow village households and a CIC in the local bazaar. This could be a model to address GP always strives to provide quality As a responsible corporate citizen, GP services to its valued subscribers. In has continued to invest for common the demand for electricity in rural Bangladesh. Meanwhile GP continued to 2011, special attention was given to good of the society. In 2011, the meet the subscribers’ demand and Company has integrated its convert its base stations to use renewable energy and at the end of satisfaction. technological expertise with social projects to bring positive changes in the 2011, 50 BTSs are being operated by Grameenphone established a Customer solar power. life of general people ensuring better Experience Lab, which is helping the Company to gain valuable customer sustainability. insight about its products and services. One of these initiatives was Online February 07, 2012 The lab is being used to validate ideas School. The basic idea of Online school and concepts with potential customers is that a sub-urban/rural classroom of early in the product development phase. Bangladesh will be connected to a The corporate website of the Company classroom in Dhaka via video conference technology and internet. has been revamped with many new tools and applications to make life easy for its GP has also taken different initiatives to customers. Bangla versions of the deliver M-health. In collaboration with website along with WAP version were Mobile Alliance for Maternal Action and also lunched. One of the major features D.net, GP has been providing life-saving of the website has been the eCare health information to parents-to-be and system, which enabled the customers to new parents in Bangladesh using mobile avail many services online. phones. Another agreement has been signed with Telemedicine Working Group Excellent Performance of Bangladesh to increase accessibility of specialized dermatology services for GP earned BDT 8,906 crore revenues for the rural community. the year 2011 with 19.2% increase from 2010. The growth was driven by The Company helped Women Support subscription. There has been increasing and Investigation Division (WSID) of contribution from data, roaming and Dhaka Metropolitan Police (DMP) to wholesale business. establish a help line. Women violence victims will be able to use this help line Company’s subscriber base increased to seek police help. from 30 million to 36.5 million by the end of 2011 giving it a market share of Another initiative has been taken with National Legal Aid Services Organization around 43%. The Company added 6.5 The “Grameenphone-Prothom Alo Internet Utshab” was launched in partnership with Prothom Alo – the leading newspaper of the country, the ICT Ministry and Opera Mini on the September 27, 2011. “Internet Utshab” was a series of day long events held in rural and semi-urban schools and colleges nationwide. 101 such events were held in more than 1000 institutions and with 300,000 audiences. The i-Genius contest was the most exciting part of the event from which 101 i-Geniusescameouttofightforthenationalchampion’stitlein the Grand Finale on January 07, 2012. Annual Report 2011 12/13 350,000+ people directly dependenon Grameenphone for their livelihood The Shareholders The shareholding structure comprises of mainly two sponsor Shareholders namely Telenor Mobile Communications AS (55.80%) and Grameen Telecom (34.20%). The rest 10.00% shareholding includes General Public & other Institutions. Telenor Mobile Communications AS (55.80%) Grameen Telecom (34.20%) General Public & other Institutions (10.00%) Telenor Mobile Communications AS (TMC) TMC, a company established under the laws of the Kingdom of Norway, seeks to develop and invest in telecommunication solutions through direct and indirect ownership of companies and to enter into national and international alliances relating to telecommunications. It is a subsidiary of Telenor Mobile Holdings AS and an affiliate of Telenor. Telenor ASA is the leading Telecommunications Company of Norway listed on the Oslo Stock Exchange. It owns 55.80% shares of Grameenphone Ltd. Telenor'sstronginternational expansion in recent years has been based on leading-edge expertise, acquired in the Norwegian and Nordic markets, which are among the most highly developed technology markets in the world. It has substantial International operations in mobile telephony, satellite operations and pay Television services. In addition to Norway and Bangladesh, Telenor owns mobile telephony companies in Sweden, Denmark, Hungary, Serbia, Montenegro, Thailand, Annual Report 2011 14/15 Malaysia, Pakistan and India. Including its 31.7% ownership stake in VimpelCom, Telenor has more than 330 million mobile The Sharsubscriptions worldwide as of December 31, 2011. Telenor uses the expertise it has gained in its home and international markets for the development of emerging markets like Bangladesh. AspartoftheconversionofGrameenphonefromaprivatelimitedtoapubliclimitedcompany,TelenorMobileCommunications AS transferred 10 shares each on May 31, 2007 to its three (3) affiliate organizations namely Nye Telenor Mobile Communications II AS, Norway; Telenor Asia Pte. Ltd., Singapore; and Nye Telenor Mobile Communications III AS, Norway. Grameen Telecom (GTC) GrameenTelecom,whichowns34.20%ofthesharesofGrameenphone,isanot-for-profitcompanyinBangladeshestablished by Professor Muhammad Yunus, winner of the Nobel Peace Prize 2006. GTC’s mandate is to provide easy access to GSM cellular services in rural Bangladesh and create new opportunities for income generationthroughself-employmentbyprovidingvillagers,mostlytothepoorruralwomenwithaccesstomoderninformation and communication-based technologies. Grameen Telecom, with its field network, administers the Village Phone Program, through which Grameenphone provides its services to the fast growing rural customers, Grameen Telecom trains the operators and handles all service-related issues. GTC has been acclaimed for the innovative Village Phone Program. GTC & its Chairman Nobel Peace prize laureate Professor Muhammad Yunus have received several awards which include; First ITU World information Society Award in 2005; Petersburg Prize for Use of the IT to improve Poor People’s Lives” in 2004; GSM Association Award for “GSM in Community Service” in 2000. As part of the conversion of Grameenphone from a private limited to a public limited company, Grameen Telecom transferred 1 share each on May 31, 2007 to its two affiliate organizations namely Grameen Kalyan and Grameen Shakti. Top Twenty Shareholders as on December 31, 2011 The Shareholders Sl No. Name of Shareholders Number of Ordinary Shares Held Percentage 1 Telenor Mobile Communications AS 753,407,724 55.80% 2 Grameen Telecom 461,766,409 34.20% 3 Grameen Bank Borrowers’ Investment Trust 11,037,221 0.88% 4 AB Investment Limited – Investors Discretionary Account 8,618,000 0.68% 5 IDLC Finance Limited - Portfolio Account 5,017,008 0.40% 6 Bangladesh Fund 2,905,800 0.23% 7 United Commercial Bank Ltd. 2,096,700 0.17% 8 Investment Corporation Of Bangladesh 1,829,400 0.15% 9 Lankabangla Investment Ltd.- IP A/c 1,633,240 0.13% 10 Rupali Bank Ltd. 1,283,800 0.10% 11 ICB Unit Fund 1,226,000 0.10% 12 IFIC Bank Ltd. 1,188,300 0.09% 13 Sonali Bank Ltd. 1,151,400 0.09% 14 Delta Life Insurance Co. Ltd. 1,130,400 0.09% 15 The City Bank Ltd. 975,600 0.08% 16 Citigroup Global Markets Financial Products LLC 935,200 0.07% 17 Union Capital Ltd. Investor Account 911,346 0.07% 18 Grameen One : Scheme Two 850,000 0.07% 19 TBIL Investors Discretionary Account 847,917 0.07% 20 A.K.Khan & Co. Limited 826,000 0.07% Total 1,259,637,465 93.54% (as per CDBL records) Annual Report 2011 16/17 Organisational Structure Boardof Directors Board Audit Committee Tore Johnsen ChiefExecutive Officer (CEO) HossainSadat* Emadul Hannan* Company Secretary Head of InternalAudit Tanveer Mohammad Arild Kaale Kazi Monirul Kabir Raihan Shamsi ** Haroon Bhatti MahmudHossain ChiefTechnology ChiefMarketing Chief Communications DeputyCEO &Chief ChiefPeople Officer ChiefCorporate Officer Officer Officer FinancialOfficer AffairsOfficer *Nota memberof the ManagementTeam **Deputy CEO has a special role on Stakeholder Relations of the Company Directors’ Profile Mr.SigveBrekkewasappointedtotheBoardonSeptember1,2008andisalsotheChairman of Grameenphone Board. Mr. Brekke has held a number of positions in the Telenor Group. He joinedTelenorAsiaPTELtd.in1999asManagerofBusinessDevelopment,andlaterbecame theManagingDirector.HeservedastheCo-CEOofTotalAccessCommunicationPLC(“dtac”) from 2002 to 2005, was the sole CEO and Director from 2006 to 2008 and was elected as the Vice Chairman of dtac Board in 2008. In July 2008, he was appointed as Director and Executive Vice President of Telenor Group, Head of Asia Region, Telenor. In 2009, Mr. Brekke was elected as Director of Unitech Wireless and the Chairman of DiGi Board. He was appointed Managing Director of Uninor in July 2010. Prior to joining Telenor, Mr. Brekke served as the Deputy Minister (State Secretary) of Defence in Norway in 1993 and was also an associate research fellow at the John F. Kennedy School of Government, Harvard Sigve Brekke University. Mr. Brekke holds a Master of Public Administration from John F. Kennedy School of Government, Harvard University. Mr. M Shahjahan was appointed to the Board on June 26, 2006 and is also Chairman of the Company’sTreasuryCommitteeandBoardAuditCommittee.HehasbeenappointedasDeputy Managing Director of Grameen Bank on July 26, 2011. In addition, he has been made responsible to act as Managing Director of the same organization. Earlier, he served as the General Manager and Head of the Accounts, Finance, Planning, Monitoring and Evaluation Division of Grameen Bank. Prior to joining the Company, he served in several executive management positions in Grameen Bank, including Chief of the Audit Department and Zonal Manager. Mr. Shahjahan is a member of the Board of Directors of several companies that work in the fields of health, education, agriculture, welfare, renewable energy and telecommunications. He obtained a Bachelor of Commerce (Honours) in Accounting from the M Shahjahan University of Dhaka in 1976, as well as a Masters degree in Accounting in 1977 and a Masters degree in Finance in 1981. He was awarded ICAB Medal (Silver) for passing the ‘C.A. Intermediate’ examination at the earliest eligible chance in 1981. Ms.NurjahanBegumwasappointedtotheBoardonJanuary20,2010.SheservedintheNobel winning organization Grameen Bank as its Acting Managing Director, the responsibility she got fromthebank’sfounderProfessorMuhammadYunus.SheisnowservingasManagingDirector (Honorary) of Grameen Shikkha (Education), a non-profit organization in the Grameen family. She was one of the earliest associates of Professor Yunus when the latter started the Grameen Bank Project in 1976 in the village of Jobra in Chittagong district of Bangladesh. Ms. Nurjahan, whowasastudentofChittagongUniversity,playedanimportantroleinorganizingandtraining poor rural women in Grameen Bank’s grassroots groups during the bank’s earliest and most challenging days. She was the first ‘Principal’ of the Grameen Bank Training Institute. She served as consultant, trainer and evaluator of microcredit programmes in many countries and lectured at different universities, conferences and seminars in different countries. She is also Nurjahan Begum serving on the Boards of several organizations including Grameen Foundation, USA. She was awarded the Susan M. Davis Lifetime Achievement Award 2008 by Grameen Foundation. She was also awarded World Summit Millennium Development Goals Award 2009 and the Vision Award 2009. She participated in the Fortune Most Powerful Women Summit held in Los Angeles in 2007 and was appointed president to the Foundation for Justice Prize giving ceremony held in Valencia, Spain in 2007. Annual Report 2011 18/19 Directors’ Profile Mr. Morten Tengs was appointed to the Board on July 18, 2011. He joined the Telenor Asia office as a director in June 2011. He is currently a Board member of Telenor in Pakistan and DTAC in Thailand. He has been in the Telenor Group since 1995, and held a number of management positions such as: Finance Director of Telenor Global Services, CEO of Telenor Global Services, CEO of Telenor Satellite Services, CEO of Telenor Cinclus and Senior Vice President of Telenor Corporate Development. Mr. Tengs holds a Master of Business Administration degree from the Norwegian School of Management (BI) and an Engineering degree in construction from the Norwegian Engineer High School. Morten Tengs Mr. Per Erik Hylland was appointed to the Board on June 25, 2007 and is also Chairman of the Company’s Human Resources Committee and Health, Safety, Security & Environment Committee. He is the Senior Vice President in Telenor Asia and serves as Country Manager in Bangladesh. Mr. Hylland has professional experiences in the banking, information technology and telecommunications industries. He joined Telenor in 1994 and since then has held several senior management positions. During the past 11 years, he has worked in 10 countries as a Telenor representative for Central and Eastern Europe, North Africa and Asia. During this period, Mr. Hylland acted as a Director for Telenor companies in Austria, the Czech Republic, Hungary and Slovakia. He is an engineer in information technology and educated in the Norwegian Ministry of Defence. Per Erik Hylland Dr. Jamaluddin Ahmed FCA was appointed to the Board on March 19, 2010 as an Independent Director. He is a Partner at Hoda Vasi Chowdhury & Co., Chartered Accountants, which is the associate firm of Deloitte & Touche in Bangladesh. Dr Jamal was the President (2010) of the Institute of Chartered Accountants of Bangladesh (ICAB). He is the elected Vice-President of the country’s independent think tank-Bangladesh Economic Association. He is engaged in assignments in Financial, Banking and Energy Sector industries. He worked as country specialist in Migrant Remittance Management. He was involved in DFID funded Cheque Automation, Automated Clearing System and in the development of National Payment System in Bangladesh. Currently, he is involved with Bangladesh Energy Regulatory Commission for introducing Uniform Energy Accounting in Bangladesh. Over his professional career, Dr. Jamal Dr. Jamaluddin Ahmed FCA haswrittencopiouspublicationsandconductednumerousresearchpapersonvariousaspects. Recently, Dr. Jamal completed his research paper on mobile banking for speedy remittance to rural Bangladesh, Cost and Pricing of Remittance - A Comparative Study. Moreover, he conductedastudyin2008onmobilebankinginAfghanistanfortheMicroFinanceTransaction funded by the USAID. His paper on the application of Uniform Energy Accounting in Bangladesh was presented at the South Asian Federation of Accountants Conference at Kathmandu (2010). Currently, he completed his paper “Demutualization of Stock Exchanges-Rationale, Comparative Practice and a Roadmap for Bangladesh”. He holds Masters degree in Accounting from the University of Dhaka, PhD from the Cardiff Business School, under the University of Wales, United Kingdom, and is also a fellow of the ICAB. Mr. Lars Erik Tellmann was appointed to the Board on December 6, 2011. He was Vice President Directors’ Profile of Telenor Group and joined the Asia Region Office at Bangkok in 2010. Previously he was in Finance Division of DiGi Telecommunications in Malaysia. In September 2011, Mr. Tellmann was appointed as Senior Vice President for Strategic Development for Telenor Asia. He is also a Board member in Telenor Pakistan, Total Access Communication Plc in Thailand and DiGi Telecommunications in Malaysia. Mr. Tellmann has 12 years of international ICT industry exposure, working in Scandinavia, Central Eastern Europe and South East Asia. He joined the Group Business Development Division of Telenor ASA in 2001, and worked primarily to build and execute operational excellence concepts internationally. He holds a Masters Degree in BusinessAdministration(MBA)fromEdinburghUniversityinScotland,UK,aswellasaMasterin Lars Erik Tellmann Business of Science (M.Sc./Sivilokonom) degree from Bodo Business School, Norway. Mr.HakonBruasetKjolwasappointedtotheBoardonSeptember14,2011.HeistheSeniorVice President and Head of Corporate Affairs of Asia Region, Telenor Group. Mr. Kjol joined the Telenor Group in 1995, beginning his career in the domestic mobile operations in Norway. Sincethen,hecontributedtotheGroup’sgrowinginternationalpresencethroughhisstrategic involvement in Telenor’s international mobile activities where he played significant roles in operational development and merger and acquisition activities both in Europe and Asia. For thelast11years,Mr.KjolhasbeenbasedinAsiawherehecontinuestoassumeakeyroleinthe development of the Group strategy for Asia, and managing the Asia business environment to include the areas of public affairs, regulatory management, government relations, strategic communications and corporate responsibility. He has been a key member of several Hakon Bruaset Kjol management committees and currently the Director of Total Access Communication (dtac), Thailand;TelenorAsiaPteLtd,Singapore;Digi.comBerhad,MalaysiaandTelenorIndiaPvt.Ltd, India. Mr. Kjol is a former student of the Norwegian School of Management majoring in Marketing and Communications. Mr. Md. Ashraful Hassan was appointed to the Board on January 20, 2010. He currently serves as Managing Director of Grameen Telecom, and is engaged in promoting and providing easy access to GSM cellular services in rural Bangladesh. He also serves as Managing Director of Grameen Knitwear Ltd., Grameen Distribution Ltd., Grameen Fabrics & Fashions Ltd. and CEO of Grameen Telecom Trust. He gained diversified knowledge in textile sector especially in the field of composite knit-wear having wide exposures in the industrial management, export market,labourmanagementandsoon.Mr.Hassanalsoacquiredwiderangeofexperiencefor project development and different kinds of industry setup. He started his career in Grameen Bank,theNobelPeacePrizewinningorganization,in1984.Duringhis16yearstenurewiththe Md. Ashraful Hassan Bank, he held various key positions including the Chief of Engineering section. He has gained extensive knowledge in the field of construction engineering and extended notable contribution for the infrastructural development of Grameen Bank. He serves as a member of the Board of Directors of several enterprises that play commendable role in the fields of renewable energy, health care, food & nutrition, information and communication technology and so forth. He holds Bachelor of Science in Civil Engineering from Khulna University of Engineering and Technology, Bangladesh. Annual Report 2011 20/21 3 1 Management Team 1. Tore Johnsen: CEO 2. Raihan Shamsi: Deputy CEO & CFO 3. Kazi Monirul Kabir: CCO 4. Tanveer Mohammad: CTO 5. Haroon Bhatti : CPO 6. Arild Kaale: CMO 7. Mahmud Hossain: CCAO 2 7 6 5 4 Annual Report 22/23 Management Team’s Profile Mr. Tore Johnsen was appointed as our Chief Executive Officer (CEO), effective from March 01, 2011. Before joining Grameenphone, he was the CEO of the Thai mobile operator ‘dtac’. Previously he has alsoheldpositionsasCEOofTelenorPakistanandCEOofDiGiinMalaysia.HejoinedtheTelenorGroup in1974,andheldanumberofmanagerialpositionsandinternationalassignments.HeholdsMasterof Science in addition to studies in International Business Management. Tore Johnsen CEO Mr. Raihan Shamsi was appointed as our Deputy Chief Executive Officer (DCEO) and Chief Financial Officer (CFO), effective from March 09, 2010. He had been the Company Secretary since 2005 until late 2010. Earlier, he was the Chief Corporate Affairs Officer and, before that, Director of Financial Management and Head of Internal Audit. Before joining Grameenphone in late 2001, he worked in a number of multinational organizations, including Shell, Unilever and KPMG Bangladesh. He has worked in the areas of financial management, corporate stakeholder management, legal & compliance and internal control & process management for around thirteen years. He is a Chartered Accountant in profession and holds a Bachelor’s degree in Commerce from the University of Raihan Shamsi Chittagong, Bangladesh. Deputy CEO & CFO Mr. Haroon Bhatti was appointed as our Chief People Officer (CPO), effective from August 01, 2011. Before joining Grameenphone, he was the CPO of Thai mobile operator, ‘dtac’. Previously, he was the Director, Organization Excellence of Telenor Pakistan. Prior to joining Telenor, he has held several management positions in USA. He holds a Masters degree in Political Science from McGill University, Canada. Haroon Bhatti CPO Mr. Arild Kaale was appointed as our Chief Marketing Officer (CMO), effective from September 10, 2009. Before joining Grameenphone, he was the Chief Marketing Officer in Telenor Promonte, the number one mobile operator in Montenegro. While with Telenor and Promonte, he has been a part of the Board of Directors of Penetrace in Norway. After serving three years as a second lieutenant in the Norwegian Armed Forces, he started his career as Managing Director in Lasbuakonsernet in 1995. He joined Scandinavian Airlines System in 1997, working both in Sweden and in the USA with Star Alliance related activities. In 1998, he was appointed Marketing Director for the Swedish market. Before joining Telenor Zonavi as Commercial Director, he served in Office 24-7 AS in the Arild Kaale CMO capacity of Nordic Marketing Director. In 2003, Arild joined Telenor Business Norway as Head of Marketing with responsibilities of marketing/CRM activities, segment management, analysis and training. He was also responsible for third party distribution within the business segment in Norway. He holds a Master of Business and Economics from Bedriftsokonomisk Institute in Oslo and Indiana University in the USA. Mr. Kazi Monirul Kabir was appointed as our Chief Communications Officer (CCO), effective from September 01, 2009. He has been a part of Grameenphone since April 2008 when he joined as the Management Team’s Profile Head of Regional Sales to lead the largest team in Grameenphone. He moved to Communications Division as Head of Market Communications before being appointed as the Chief Communications Officer. He has extensive experience spanning over 12 years in the corporate world. He started his career at British American Tobacco Bangladesh where he received numerous accolades for his role in Trade Marketing & Distribution, Brand Communication and Change Management at company level. He Kazi Monirul Kabir was the architect of the Direct Sales team of Banglalink GSM that was pivotal in achieving wide reach CCO andsalesvolumesthattheinitiativesgenerated.HehasalsoheldanExecutiveDirectorpositionatone of the leading media agencies in the country. He completed his Bachelor of Business Administration from the School of Management & Business Administration of Khulna University before entering into corporate career. Mr.MahmudHossainwasappointedasourChiefCorporateAffairsOfficer(CCAO),effectivefromMarch 08,2010.Hestartedhiscareerasatelecomprofessionalin1990attheveryoutsetofliberalizationof mobile telephony industry in Bangladesh; when he joined the technical team of the erstwhile Hutchison BD Telecom Ltd. (presently known as CityCell) after completion of his Bachelor Degree in Engineering. He worked for Grameenphone, at his first spell with the company, as Additional General Manager at the Network Operations during the period of 2000-2001. In his credibly long career, he also worked as the Head of Technology for various telecom operators – Fixed Wireless, ISP and International Gateway. Immediately prior to taking up his present role, he worked as the Head of Mahmud Hossain Regulatory Affairs under Corporate Affairs Division of Grameenphone since his rejoining the Company CCAO in August 2009. He obtained his Bachelor Degree in Electrical & Electronic Engineering from Bangladesh University of Engineering & Technology (BUET). He obtained his MBA (major in Finance) from the Institute of Business Administration (IBA), University of Dhaka, Bangladesh. He also holds a Masters (Telecom) Degree from Concordia University, Canada. Mr. Tanveer Mohammad was appointed as our Chief Technology Officer (CTO), effective from July 01, 2010. Tanveer has been working with Grameenphone since 1997. In this long journey with Grameenphone, he has worked with Roll out, Operation and overall network responsibilities. He has playedpivotalrolesindevelopinglocalentrepreneursincivilworks,towerfabrication,installationand commissioning, ensuring speed and efficiency for the coverage and capacity expansion of the network. He has also contributed towards creating the efficiency focus in the operational activities while upholding the network leadership, through aggressive service level agreements, high customer Tanveer Mohammad focus, steep cost efficiency targets and strengthening the operational teams. He has successfully led CTO the network modernization bringing in huge efficiency in energy consumption and overall opex efficiency. Through this process, the network also became ready for future technology. Since early 2009, Tanveer has been working as Deputy CTO. He has contributed strongly in Technology strategy, together project, vendor strategy, wholesale support with overall operational responsibilities during this tenure. He is also taking active part in GTI (Global Team Infrastructure) forum with Telenor. Before joining GP, Tanveer worked with Hyundai Engineering and Construction. He holds a graduation in Engineering from the Bangladesh University of Engineering and Technology (BUET). Annual Report 2011 24/25 Message from the Chairman Bangladesh still have huge potential for growth. There is also a vast demand for high speed internet. We believe that the country is eagerly waiting for 3G and with countrywide upgraded network and long experience in providing internet services, your company is nicely poised to take the mobile telephony to the next level. Chairman’s Message Dear Shareholders, With your support and trust, we have renewing mobile operators. The (BDT 6,015 crore) to the National passed another successful but guideline demanded unprecedented Exchequer representing about 68% of challenging year in 2011. renewal fees and contained many issues GP’s total revenue of 2011. that were not relevant to the renewal. While we posted growth both in revenue With only around 33% telecom and subscriber numbers, most of the The renewing operators along with us penetration, Bangladesh still have huge year was spent under regulatory strongly pointed out that the stipulated potential for growth. There is also a vast uncertainties. fees were not rational and also demand for high speed internet. We Due to our continuous effort to increase unprecedented. We requested the believe that the country is eagerly Bangladesh Telecommunication waiting for 3G and with countrywide operational efficiency, your company has seen a healthy increase in revenue. Regulatory Commission (BTRC) and the upgraded network and long experience The year on year revenue growth was concerned Ministry to reduce the fees in providing internet services, your and remove the non license issues from company is nicely poised to take the mainly fuelled by steady subscription growth and contributions from data, the license renewal guidelines. The mobile telephony to the next level. media and other stakeholders also roaming and wholesale businesses. Grameenphone rides on a group of supported our position. By the end of 2011, the number of dedicated people keen to accomplish. After much deliberation, the subscribers has reached over 36.5 All the accolades that GP has earned million representing around 43% of Government later reduced the fees to years after years have resulted from the market share. some extent. We have already paid the relentless drives, initiatives and 1stinstallment of the renewal fees commitments of its employees. Hats off Grameenphone has always been amounting to over BDT 13 billion (BDT to the winning team for their persistent committed to providing quality services 1,300 crore). However, in relation to achievements and fond affection for and it has been one of our main Market Competition Factor (MCF) on the Grameenphone. strengths from the beginning. To spectrum that we acquired in 2008 and maintain this strength in the future, we At the end, I would like to thank our VAT on renewal fees, we had to go to the valued shareholders and other have upgraded our entire network in court of law. We are now waiting for the 2011. Our network is now future proof stakeholders for their support which is Supreme Court’s order on the license and ready to serve our customers with helping this Company to remain an renewal issue. innovative and dynamic organization. greater satisfaction. In another front, BTRC initiated an audit The share market remained extremely on mobile operators in April 2011. volatile throughout the year. But, Unfortunately, the above audit was fortunately price of Grameenphone’s performed only on Grameenphone. We Sigve Brekke share did not fluctuate much. By the were asked to pay outstanding dues of Chairman end of the year, we have seen the GP BDT 3,034 crore based on the share price to gain. We have also been
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