Sikder Group

Sikder Group is a family-owned Bangladeshi business conglomerate associated with the Sikder family. The group was founded by Zainul Haque Sikder in the early 1950s and initially developed from textile and garment manufacturing. Over time, its business interests expanded beyond manufacturing into infrastructure and energy-related activities, including power generation, port operations, and economic-zone development. A significant part of the group's later expansion was conducted through PowerPac Holdings, described as a sister concern of Sikder Group. In August 2011, PowerPac Holdings received a contract from the Bangladesh Power Development Board to build a power plant. The group's infrastructure interests broadened further in 2016, when its subsidiary PowerPac Ports Limited received a government contract to operate two jetties at the Port of Mongla. In the same year, PowerPac received approval from the Bangladesh Economic Zones Authority to operate Mongla Economic Zone in Bagerhat. These projects connected the group to Bangladesh's industrial-development, logistics, energy, and port-infrastructure initiatives. The group has remained closely associated with the Sikder family. Zainul Haque Sikder served as chairman until his death in 2021. His sons Rick Haque Sikder and Ron Haque Sikder became directors. The supplied reference material also reports that Ron Haque Sikder died on 4 May 2026; because that date is later than much of the group's documented history, it should be treated as a source-reported leadership event requiring continued verification. Sikder Group has also faced financial and legal scrutiny. Information concerning the end of 2016 described liabilities of approximately 2,000 crore Bangladeshi taka spread across three banks. Reports in late 2024 indicated that First Security Islami Bank had exposure to the group exceeding Tk 2,254 crore and alleged that a substantial part of the lending had not been classified correctly. In September 2025, a Dhaka court ordered the freezing of investments totaling 353 million Thai baht, described as approximately Tk 133 crore, in seven Thai companies linked to three children of former National Bank chairman Zainul Haque Sikder. The group has additionally been connected in reporting to allegations involving labor practices, violence, abduction, and money laundering. In 2010, the state of California sued a carwash business associated with the group for US$6.6 million over alleged worker exploitation. In May 2020, Exim Bank filed a criminal complaint alleging that its managing director and associate managing director had been shot at and abducted. Ron Haque Sikder and Dipu Haque Sikder were identified in connection with the case, left Bangladesh by air ambulance after the complaint, and were later acquitted after the complainant stated that he did not object to acceptance of a police final report. These allegations and proceedings are distinct from the group's operating businesses and should not be treated as findings of wrongdoing beyond what the cited legal and news records establish. Publicly available reference material provides limited information about the group's current portfolio, financial reporting, corporate structure, and operating performance. Accordingly, Sikder Group is best characterized as a diversified Bangladeshi family business group whose documented activities span manufacturing, energy, ports, and economic-zone development, with its public profile also shaped by banking disputes and legal controversies.

Sikder Group emerged in Bangladesh as a family-owned enterprise founded by Zainul Haque Sikder in the early 1950s. Its original business was textile and garment manufacturing, reflecting the importance of labor-intensive manufacturing in the country's early industrial development. The available reference material does not specify the group's exact founding year, initial factory locations, or the names of its first operating companies, but it identifies the textile and garment sector as the group's starting point. The group's activities later broadened into infrastructure and energy. PowerPac Holdings, described as a sister concern of Sikder Group, received a contract from the Bangladesh Power Development Board in August 2011 to build a power plant. This marked a move beyond the group's original manufacturing base and placed an associated company within Bangladesh's power-development program. The available sources do not provide sufficient detail about the plant's capacity, location, completion date, or long-term operating performance. In 2016, the group's infrastructure portfolio expanded into port services and economic-zone development. PowerPac Ports Limited received a government contract to operate two jetties at the Port of Mongla, one of Bangladesh's important maritime gateways. During the same year, PowerPac was approved by the Bangladesh Economic Zones Authority to operate Mongla Economic Zone in Bagerhat. Together, these developments linked the group to cargo handling, port logistics, industrial land, and investment-oriented infrastructure. The reference material does not identify the full list of tenants, investment totals, or operating results for the economic zone. Family control has been a defining feature of the group. Zainul Haque Sikder served as chairman until his death in 2021. His sons Rick Haque Sikder and Ron Haque Sikder became directors, continuing the family's formal association with the group. The supplied reference also states that Ron Haque Sikder died on 4 May 2026. The public material available for this dossier does not identify a current chairman, chief executive, or successor management structure. Financial issues became a prominent part of the group's public profile. At the end of 2016, reported liabilities were approximately 2,000 crore Bangladeshi taka, spread among three banks. In late 2024, reports stated that First Security Islami Bank had exposure exceeding Tk 2,254 crore and alleged that a significant share of the lending had not been classified appropriately. These figures are reported financial exposures rather than a complete consolidated balance sheet for the group, and the available material does not establish the group's total assets, revenues, profitability, or current debt position. Sikder Group and associated businesses have also appeared in legal and enforcement-related reporting. In 2010, California sued an associated carwash business for US$6.6 million, alleging worker exploitation. In May 2020, Exim Bank filed a complaint at Gulshan police station alleging that its managing director and associate managing director had been shot at and abducted. Ron Haque Sikder and Dipu Haque Sikder were identified as the principal accused in the case and left Bangladesh by air ambulance after the filing. They were later acquitted after the complainant, Exim Bank director Lieutenant Colonel (retired) Serajul Islam, stated that he did not object to the court accepting a police final report. In September 2025, a Dhaka court ordered the freezing of investments amounting to 353 million Thai baht in seven Thai companies linked to three children of former National Bank chairman Zainul Haque Sikder. The event added an international asset-freezing dimension to the group's legal and financial scrutiny. Reference material also describes the group as having attracted law-enforcement attention in connection with alleged criminal activities, including money laundering; those descriptions should be understood as allegations or reporting unless supported by a specific adjudicated finding. The documented trajectory of Sikder Group is therefore one of diversification from manufacturing into power, ports, and economic-zone infrastructure, alongside persistent family ownership and a public record marked by banking disputes, lawsuits, and enforcement proceedings. Information about the group's present operating companies, leadership, ownership percentages, and financial condition remains incomplete.

• 2025

  Thai investments frozen by Dhaka court

  [1]Sikder Groupen.wikipedia.org

  A Dhaka court ordered the freezing of investments in seven Thai companies linked to three children of Zainul Haque Sikder.

• 2021

  Death of founder and chairman

  [1]Sikder Groupen.wikipedia.org

  Zainul Haque Sikder died after serving as the group's chairman; his sons Rick and Ron were identified as directors.

• 2016

  Expansion into Mongla port operations

  [1]Sikder Groupen.wikipedia.org

  PowerPac Ports Limited received a government contract to operate two jetties at the Port of Mongla.

• 2016

  Approval for Mongla Economic Zone

  [1]Sikder Groupen.wikipedia.org

  PowerPac received approval from the Bangladesh Economic Zones Authority to operate Mongla Economic Zone in Bagerhat.

• 2011

  PowerPac received a power-plant construction contract

  [1]Sikder Groupen.wikipedia.org

  PowerPac Holdings received a contract from the Bangladesh Power Development Board to build a power plant.

• 1950

  Group established in textile and garment manufacturing

  [1]Sikder Groupen.wikipedia.org

  Zainul Haque Sikder founded the family-owned business group in the early 1950s, initially focusing on textile and garment manufacturing.

A family-owned Bangladeshi conglomerate diversified from textile and garment manufacturing into energy, logistics, port infrastructure, and industrial-zone development.

• Manufacturing

  Textiles and garments

  Textile and garment manufacturing formed the original operating base of Sikder Group. The available reference identifies this sector as the group's starting business but does not specify particular apparel labels, factories, product categories, production volumes, or export markets.

• Energy infrastructure · 2011

  PowerPac power projects

  PowerPac Holdings, a sister concern of Sikder Group, expanded the group's activities into power infrastructure. It received a Bangladesh Power Development Board contract in 2011 to build a power plant. The available sources do not provide enough information to identify the plant's specifications or present operating status.

• Port and logistics services · 2016

  Mongla Port jetty operations

  PowerPac Ports Limited was awarded a government contract in 2016 to operate two jetties at the Port of Mongla. This activity represents the group's documented involvement in maritime logistics and port infrastructure, although the available material does not describe throughput, customers, or current contract status.

• Economic-zone development · 2016

  Mongla Economic Zone

  PowerPac received approval in 2016 from the Bangladesh Economic Zones Authority to operate Mongla Economic Zone in Bagerhat. The project connects the group to industrial-site development and investment facilitation, but the available sources do not provide details on tenants, infrastructure completion, or investment performance.

• 2025

  Thai asset-freezing order

  A Dhaka court ordered the freezing of investments totaling 353 million Thai baht in seven Thai companies linked to three children of former National Bank chairman Zainul Haque Sikder.

  Source

• 2024

  Bank exposure and loan-classification scrutiny

  Late-2024 reporting described First Security Islami Bank exposure to Sikder Group exceeding Tk 2,254 crore and alleged that a significant portion of the lending had not been classified properly.

  Source

• 2020

  Exim Bank shooting and abduction allegations

  Exim Bank filed a complaint alleging that its managing director and associate managing director had been shot at and abducted. Ron Haque Sikder and Dipu Haque Sikder were named in the case, later left Bangladesh by air ambulance, and were subsequently acquitted after the complainant did not object to acceptance of a police final report.

  Source

• 2010

  California worker-exploitation lawsuit

  California filed a US$6.6 million lawsuit against a carwash business associated with Sikder Group, alleging that workers had been exploited. The available reference does not provide the final disposition or detailed findings.

  Source

Read more

• 2016

  Expansion into ports and economic-zone developmentStrategy

  Background

  The group pursued infrastructure-related opportunities connected to Bangladesh's port and industrial-development programs.

  Action taken

  PowerPac Ports Limited took on operation of two Mongla Port jetties, while PowerPac received approval to operate Mongla Economic Zone.

  Aftermath

  These approvals extended the group's documented activities into maritime logistics and industrial-zone management.

  Source

• 2011

  Diversification into power infrastructureStrategy

  Background

  The group had originated in textile and garment manufacturing, while Bangladesh was developing additional power-generation capacity.

  Action taken

  Through PowerPac Holdings, the group accepted a Bangladesh Power Development Board contract to build a power plant.

  Aftermath

  The contract marked the group's documented expansion into energy and major infrastructure.

  Source

1. 1Sikder Groupen.wikipedia.org