Industrialist Abdul Monem dies at 86

Prominent industrialist Abdul Monem, the founder of conglomerate Abdul Monem Ltd, has died in hospital care at the age of 86.

He passed away at Dhaka's Combined Military Hospital around 10 am Sunday, said Sumit Chakrabarty, senior brand manager of Igloo, an ice-cream unit of the company.

Monem was admitted to Square Hospital on May 17 after suffering a stroke. He was later transferred to the CMH.

He will be laid to rest in his native Brahmanbaria, according to officials of the company.

A civil engineer by profession, Monem arrived in Dhaka in the early 1950s with a secondary school certificate and barely any pocket change.

He started out as a construction contractor in a partnership but he later launched his own business, with an initial working capital of Tk 20,000.

The firm, specialising in the construction of roads and highways among other things, went on to leave an indelible mark on Bangladesh's infrastructure before diversifying into other industries, including foods, beverages, pharmaceuticals and energy.

Among the group's business concerns are Igloo Ice cream, AML Construction, AM Mango Pulp Processing, Igloo Foods, Danish Bangla Emulsion, Igloo Dairy Products, Abdul Momen Sugar Refinery, AM Bran Oil, Novus Pharmaceuticals Ltd, Servicengine BPO, AM Securities & Financial Services Ltd and AM Beverages, the authorised bottler of Coca-Cola, Fanta and Sprite.

The establishment of Abdul Monem Economic Zone propelled the conglomerate to new heights in 2015. Monem, who maintained a keen interest in sports, was also a former president of Mohammedan Sporting Club.