United Securities Ltd. (USL) provides comprehensive stock brokerage services on DSE

1. C O M P A N Y P R O F I L E
TRUST
PERFORMANCE
PERFORMANCE
TRANSPARENT
PAYOFF
MODEL
MODEL
MODEL
ON
RISK
HELP
CLIENTS
HELP
CLIENTS
FAIRNESS
AND
PRUDENCE
TRANSPARENT
WITH
CLIENTS
CLIENTS' CONCERNS AND FEARS
MAINTAIN REGULAR
PRUDENCE
ACT WITH
INTEGRITY 24/7,
COST
AND
RISKS
COST
AND
RISKS
COST
AND
RISKS
STRIVE
STRIVE
STRIVE
CLIENT INTEREST
BUSINESS
TRANSPARENT
BEHAVIOR
BEHAVIOR
BEHAVIOR
own
own
own
own
CLIENTS
PRODUCT
WITH
PRODUCT
WITH
DECISION
DECISION
INSIGHTS
BEHAVIOR
INDEPENDENCE AND ACTIONABLE RESEARCH
ANALYSIS
CLIENT NEEDS
DILIGENCE INDEPENDENCE
CORPORATE GOVERNANCE
INSIGHT
INSIGHT
INSIGHT
INSIGHT
INSIGHT
CLOSE
INTERACTION
MANAGEMENT
PERSPECTIVESINVESTMENT
INVESTMENT
PORTFOLIO DECISIONSINFORMED INVESTING DECISION
with
with
with
COMPANIES
MAKE
client
needs
GROWTH
PASSIONATE
GOALSOUT-THINK
OUT-WORK
BALANCE OF RISK
BALANCE
OF RISK
BALANCE
OF RISK
RETURN
SUSTAINABLE
BUSINESS MODEL
CAPITALIZE
LONG-TERM TRENDS LEADERSHIP
GROWING MARKET
THE
SUCCESSFUL
FAVORABLE
OUR
FOCUS
ADVANTAGE PROTECTION
GOALS
MANAGEMENT
SUCCESSFUL
INVESTORS
SKIN
SUSTAINABILITY
FOCUS
investment
styles

3. 1
C o n t e n t s
Who We Are 2
Board of Directors 3
United Group Overview 5
Leaderships 6
USL Values 14
Our Distinguished Approach 15
Our Services 16
Opening Account with Us (Local) 17
Opening Account with Us (Foreign) 18
Research 20
Foreign Trade & Sales 22
Contact Us 23

4. 2
UNITEDSECURITIES
Who We Are
United Securities
Limited (USL),
a subsidiary
of the United
Group, provides
comprehensive
brokerage services
in DSE
Led by capital
market
professionals
with a combined
experience of 40+
years
Dedicated foreign
sales and trade
team to facilitate
international
investment in
Bangladesh
Started as a
partnership
between United
Group and
capital market
professionals in
2018
Provide advisory
services in addition
to the brokerage
services to help
manage clients’
investment
Collaboration with
several leading
custodial banks
to facilitate set
up investment
accounts for NRBs,
foreign individuals,
and fund managers
Paid up capital USD
10 million
Dedicated
relationship
managers for
clients to provide
seamless service
and inquiries
Established IT
infrastructure to
provide smooth
payment and
portfolio functions
Ranked 5th
in terms
of turnover within
only 6 months’ of
operation in DSE
Full-fledged
research team to
provide quality and
timely investment
insights
Centrally risk
management
structure to
provide maximum
protection to the
clients investment

5. 3
Mr. Hasan Mahmood Raja
Chairman
Mr. Ahmed I.
Hossain
Director
Mr. Nasiruddin
Akhter Rashid
Director
Mr. Abul Kalam Azad
Vice Chairman
Mr. K.M.A.
Shamim
Director
Mr. Malik Talha
Ismail Bari
Director
Mr. Moinuddin Hasan Rashid
Managing Director
Mr. Khairul Anam
Chowdhury (Sohel)
Director & CEO
Mr. Razib Al
Mamun
Director & COO
Mr. Akhter
Mahmud Rana
Director
Mr. Md. Ashaduzaman
Riadh, CFA, FRM
Director & CIO
Mr. Faridur
Rahman Khan
Director
Mr. Md. Mahfuzur
Rahman
Director & CBDO
Board of Directors

6. 4
UNITEDSECURITIES

7. 5
The United Group is one of the largest Socio
Economic Infrastructure based business groups
in Bangladesh. The group has two listed entities
on the stock exchange and one of it (UPGDCL)
is a billion dollar company. It has strategic
investments in following key economic sectors:
Investment Sectors
Power
1,315 MW
Portfolio
Generation,
EPC and
O&M
900 MW
across 9
plants in
operation,
415 MW
under
construction
Healthcare
450 bed
Hospital
300 Doctors,
1900 Staff
Real Estate &
Construction
Commercial,
Residential,
5 & 4 Star
Hotels,
Shopping
Complex, IT
Park
1.8 MSF
developed
5.6 MSF under
construction
8 MSF in
design stage
Education
University,
6,000
Students
in 11
Programs, 2
Campuses
Manufacturing &
Textile
Polymer
Industry
Dyeing Industry
Lubricating Oil
Blending Plant
Industrial City
Port, Terminal
& Maritime
Operates
Land Port
between
Bangladesh
& Myanmar
Shipping
& Logistics
of Fuel, 2
Vessels
Tank
Terminal
100,000
MT for Fuel
Storage
Services &
Retail
Operation &
Maintenance
(Power
Projects)
Travel
Assistance,
Financial
Services
Supermarket
Stock
Brokerage
United Group Overview

8. 6
UNITEDSECURITIES
Mr. Hasan Mahmood Raja
Chairman
Mr. Hasan Mahmood Raja, the Chairman of United Securities Limited, is one of the
most renowned businesspersons of the country. Born in 1957, he completed his
graduation in commerce and got passionately involved in business. He is one of
the Founding Directors of the country’s one of the leading business houses - ‘United
Group’. Mr. Raja had a keen interest and an innate aptitude for doing business and
rendering service to the nation for promoting economic development of Bangladesh.
With a humble beginning in 1978, Mr. Raja displayed his excellence in business
entrepreneurship by building his business domain. The biggest milestone of his success
is the courage to embark into new business ventures based on sound foresight,
ingenuity and skillful execution. Within a span of 37 years of his business career, he
Leaderships

9. 7
successfully managed to establish many diversified business enterprises under the umbrella
of United Group. Commitment, integrity and sincerity are the key values of his various
business achievements. Dominant position of United Group in the Country’s Power and Real
Estate sectors and creating unique establishments like Khulna Power Company Limited,
United Power Generation & Distribution Company Limited, United Hospital Ltd., United
Nursing College, United International University and United Maritime Academy are few of his
landmark entrepreneurship. United Group has always marked its steady growth under Mr.
Raja’s leadership. His charming personality, focus in flawless implementation of every single
business on time, constantly stressing on brainstorming for new ideas, efficiency in business
management etc. are only a few of his traits that eventually transformed into the core
values of his business undertaking and implementation. At present, Mr. Raja is the Chairman
of United Enterprises & Co. Ltd as well the Chairman and Managing Director of more
than 20 Concerns of the Group, notably Khulna Power Company Limited, Neptune Land
Development Ltd, United City Twin Towers Developers Ltd, United Hospital, United Maritime
Academy Ltd etc. He is also the Chairman, Board of Trustees of United International
University.
Mr. Raja has travelled extensively at home and abroad namely to USA, UK, Australia,
Canada, Germany, Japan, Malaysia, Singapore and many other countries for the purpose
of business. He also takes a profound interest in community services and contributes
generously for the welfare of the community, particularly to the underprivileged ones. He
has established multiple schools and madrasas in his village and in surrounding areas. He
continues to employ his best efforts to provide education, healthcare and infrastructure
facilities for overall development of the people of Jamalpur district.

10. 8
UNITEDSECURITIES
Mr. Moinuddin Hasan Rashid
Managing Director
Mr. Moinuddin Hasan Rashid, the Managing Director of United Securities Limited,
was born in 1982 in Dhaka. Upon completion of his B.Sc. in Electrical and Electronics
Engineering from University College London he joined United Group in 2005 as a
second generation Director. As a young and energetic entrepreneur, he marked
his future through dedication, dynamism and foresight in shaping the Power Sector,
one of the major enterprises of United Group. On 12 July 2011 he was appointed
as Managing Director of United Enterprises & Co. Ltd, and simultaneously holds the
position of the Managing Director for United Power Generation and Distribution Co.
Ltd. and many more sister concerns. Mr. Rashid is an Active Trustee of the United Trust,
a CSR organization of the Group and United International University Foundation. In

11. 9
2011 he oversaw commissioning of 208 MW Power Generation under three projects (KPCL
II, KJAPCL & UAPL). United Ashuganj Power Ltd. (UAPL) is a quick rental power plant that
was constructed and commissioned in a record time of 120 days under the tireless and
bold leadership of Mr. Rashid. He also established United Property Solutions Ltd. one of the
leading real estate developers of the country and oversaw the development of United
Land Port Teknaf Ltd, Bangladesh’s only land port with Myanmar. Along with responsibilities
mentioned above, he looks after Group Investment and Business Development. Mr.
Moinuddin Hasan Rashid supervised Power Plant expansion projects of UPGDCL DEPZ and
UPGDCL CEPZ by 75 MW, oversaw commissioning of United Energy Limited, formerly known
as Shajahanullah Power Generation Co Ltd, a 28 MW Power Plant, and spearheaded the
Joint-Venture of Gunze United Limited in 2013. Mr. Rashid also established United Shipping
and Logistics Services Ltd. in 2015. In 2018, Mr. Rashid led United Mymensingh Power Ltd.,
a 200 MW HFO fired IPP to commissioning in only 6 months! Currently, Mr. Rashid is the
Managing Director or United Power Generation & Distribution Co. Ltd. (UPGDCL), United
Ashuganj Power Ltd. (UAPL), United Ashuganj Energy Ltd. and United Property Solutions
Limited (UPSL) and is in the Board of Directors of United Hospital Ltd. (UHL), Khulna Power
Company Limited (KPCL) and United Landport Teknaf Ltd. (ULPTL). He is also an active
member of the Board of Trustees of United International University (UIU). Mr. Rashid is also the
Joint General Secretary of the Board of Trustees United International University, Trustee of
the Social Services & Management Trust, Sir John Wilson School and Joint Convener of DCCI
Standing Committee

12. 10
UNITEDSECURITIES
Mr. Md Khairul Anam Chowdhury (Sohel)
Chief Executive Officer & Director
Md. Khairul Anam Chowdhury is an industry veteran with more than 20 years of
experience in the Bangladesh capital market. Majority portion of Mr. Chowdhury’s
illustrious career has been dedicated to LankaBangla Securities Ltd. (LBSL), the largest
stock brokerage of the country, where he played various important roles in different
capacities, mastering each and every aspect of the business. Before joining USL, he
was the CEO and Director of LBSL for 4 years and before that he played the role of
COO for 5 years. Mr. Chowdhury was a nominated director representing LBSL in the
board of Midas Finance Limited. He was an elected board member of Chittagong
Stock Exchange (CSE) for two consecutive terms.

13. 11
Mr. Razib Al Mamun
Chief Operating Officer & Director
Mr. Razib is a unique talent and valuable asset in the brokerage industry of
Bangladesh. His profound selling skill and ability of being a trusted advisor have made
him one of the best of his kind in the industry. He started his career in the FMCG sector
and later on moved to the hospitality industry. His experience in these industries and
his exceptionally strong interpersonal and networking skills helped him develop very
strong industry connections which paved the way to his stellar growth in the capital
market. Before joining USL, he was the Head of Premium Brokerage at LankaBangla
Securities Limited (LBSL) and before that he was the Head of Corporate Sales at BRAC
EPL Stock Brokerage Limited. He joined USL as a Director and Chief Operating Officer,
responsible for leading the sales team as well as managing the operations of the
company.

14. 12
UNITEDSECURITIES
Mr. Md. Ashaduzaman Riadh, CFA, FRM
Chief Investment Officer & Director
Md Ashaduzaman Riadh is the Chief Investment Officer & Director at United Securities
Limited. He oversees the proprietary, clients and group equity portfolio investment.
He is also volunteering and leading the CFA community as a member of the board of
directors at CFA Society Bangladesh.
Previously, Mr. Riadh was the Strategic Portfolio Manager of LankaBangla Securities
Ltd, a leading stock brokerage house in Bangladesh. He was responsible for managing
portfolios of negative margin brokerage clients. He was also a member of the
management and HR committee of LankaBangla Securities. Apart from these, he
advised the institutional/HNI equity portfolios.
He is a CFA Charterholder from CFA Institute, USA also he is a Certified FRM (Financial
Risk Manager) from GARP (Global Association of the Risk Professionals), USA. Md
Ashaduzaman Riadh has graduated in Finance from University of Dhaka.

15. 13
Mr. Md. Mahfuzur Rahman
Chief Business Development Officer & Director
Mr. Rahman joined USL as a Director and Chief Business Development Officer, responsible for
developing institutional and foreign trade business. He looks after research, product development,
and strategic planning. Prior to joining USL, Mr. Rahman was the Chief Investment Officer of Union
Capital Limited. Before that, he played significant role in foreign business development as Head
of Research in LankaBangla Securities Limited (LBSL) where he led a large and capable sell-side
research team and attained around 40% market share in foreign trade business of the country.
He started his career with Mindspring Research, an independent research firm. Mr. Rahman
completed his BBA and MBA majoring in Finance from the University of Dhaka.

16. 14
UNITEDSECURITIES
USL Values
Ensuring sustainable growth of wealth for our investors and helping our clients reach their
financial goals.
Remaining always transparent with our clients.
Growing with the best people and creating a culture of continuous learning and consistent
improvements.
Tying individual rewards to performance meritocratic.
Building a financially sound company.
Seeking four Es in our environment: E- Energy; E-Capacity to energize; E = Edge = Capacity to
say ‘Yes’ or ‘No’; E-Execution.
Inspiring innovation and being adaptive to change.
Upholding the highest standard of ethics and professionalism. Client first, then USL, then me.

17. 15
Our distinguish approach which made
us apart from others in the market is
through our three main cornerstones –
Trust, Insights, & Growth
We believe in creating a long lasting
trust based relationship with our clients
Fostering the trust through creating a
sustainable value driven framework
based on insights & knowledge
Altogether we work towards the
growth of our clients’ wealth,
weathering through the ever-evolving
and challenging financial market
We believe in specialisation and for
that we have segregated business
operation among traders, relationship
managers, and research to better
drive the growth for our clients’ wealth
USL Value Chain towards clients’
wealth generation
Our
Distinguished
Approach
Research and
advisors (They will
generate investment
ideas for clients)
Trader (Trader will
focus on only trade
execution part)
Relationship Manager
(They will receive
investment ideas
from research and
advisory department
and convey it to the
clients)
Clients’ wealth
growth

18. 16
UNITEDSECURITIES
Our
services
Brokerage services for:
Local individual and institutional investor
Foreign individual and institutional
investor
Margin loan facilities
Our margin loan process has been devised
and controlled by a risk management
committee, which proactively on daily
basis before the trade hours, analyze the
scrips for marginable list. On top of the
regulatory policy regarding the margin
loan, our committee has added further rules
to ensure better protection of our clients’
investments.
Research and Advisory services
With our dedicated expert research team,
we are always working towards generating
independent investment ideas and based
on that we advise our client on potential
investment opportunities.
Foreign desk
We organize on- demand management
meetings and conference calls for foreign
fund managers. Similarly, we work on
organizing roadshows both locally and
abroad.
CDBL Services
IPO Application
IPO allocation through USL has become
very convenient. Our client can just
communicate with us her/his intention,
and our in- house team will apply for IPO
through clients account on behalf of her/
him.
Other services
USL provide a range of brokerage services for
the listed companies, as follows:
Director/sponsor shares buy/sell
Director/sponsor share sourcing
Director/sponsor share transfer
Bulk trade
Investment plans for secondary market
portfolio of the company

19. 17
Documents Requirement for the
individual investor
Account Opening Form and Signature
Card duly filled up
Photocopy of valid passport or national ID
card
Two copies passport size photograph of
account holder
One copy passport size photograph of
authorized person (if any)
Two copies passport size photograph of
nominee
Photocopy of valid passport or national ID
card of nominee
Documents requirement for Institutional
investor
Board Resolution
Memorandum and Articles of Association
Specimen signature of account operators
Letter of Authorization
A valid photo ID of the Managing Director
Valid photo ID of Account Operator(s)
Local Investors
(Individual and Institution)
Brief about investment in stock market
10% tax rebate facility on stock investment for
individual investor.
0% tax on capital gain for individual investor
10% tax on capital gain for institutional investor
10% tax on dividend (deducted at source) if 12
digits E-tin number is given, otherwise 15%
20% tax on dividend (deducted at source) for
institution.
40% quota has been allocated as eligible
institutional investor for IPO investment.
Fee & Services
Settlement and Transaction costs are inclusive of
brokerage commission
Trade order could be placed via email or over
phone call at the convenience of the client
Apply to IPO through us
Assist to ensure liquidity flow and execute bulk
share order at the convenience of our clients
Eligibility
Any citizen and institution of Bangladesh
Age must be above eighteen years old for
individual
Opening account with us
(Local)

20. 18
UNITEDSECURITIES
Opening account with us
(Foreign)
Brief about investment in Bangladesh Stock Market
NRBs
10% quota in all Initial Public Offerings (IPOs) is reserved
for Non- Resident Bangladeshis
Eligible to trade in the secondary market while abroad
through a Nominee
0% tax on capital gain
Individual income tax assessment is similar to any other
Resident Bangladeshi
10% tax on dividend (deducted at source) if 12 digits E-tin
number is given, otherwise 15%
Foreign Institutions/ Individuals
Allowing foreign investors to participate in IPO and Right
Issue without any regulatory restrictions
Withdrawal of all regulatory restrictions on international
portfolio investors in the secondary securities market
No capital gain tax on individuals (subject to the
condition that such assess is entitled to similar exemption
in the country in which he/she is resident)
15% capital gain tax for foreign institutional investors
25% dividend tax for foreign individual investor and 20%
dividend tax for foreign institutional investor

21. Fee & Services
Settlement and Transaction costs are inclusive of
brokerage commission
Trade order could be placed via email or over phone
call at the convenience of the client
Eligibility
NRB/ Foreign Individual and Foreign Institution
Documents Requirement
Individual
Trading account opening book duly filled up
Photocopy of valid passport or national ID card
Two copies passport size photograph of account holder
One copy passport size photograph of authorized
person (if any)
Two copies passport size photograph of nominee
Photocopy of valid passport or national ID card of
nominee
Institution
Company NITA A/C number with custodial bank or A/C
statement.
Board Resolution.
Memorandum and Articles of association.
Specimen signature of account operators.
Letter of Authorization
A valid photo ID of the Managing Director.
Valid photo ID of Account Operator(s).
All foreign investors are required to open FC A/C, NITA
A/C, and BO A/C with a custodial bank
19

22. 20
UNITEDSECURITIES
Research
Md. Rezwanur Rahman, CFA
Md. Rezwanur Rahman, CFA is currently working as a Senior Research
Analyst in United Securities Limited (USL). Rezwan joined USL in Mar’18.
Before USL, he worked as sell-side equity analyst for UniCap Securities
Limited, and prior to that LankaBangla Securities Limited. At USL,
Rezwan leads the research team as well as personally covers the
Macro Economy and different sectors including Bank, NBFI, Telco,
and Electric Appliances. Rezwan completed his BBA majoring in
Marketing from the University of Dhaka and received his CFA Charter
in Oct’18. Rezwan is an avid reader and a practitioner of Kyokushin
Karate, representing Bangladesh in the international level.
Debashish Sutradhar
Debashish Sutradhar is a Research Analyst in United Securities
Limited. He is completing his MBA degree from Institute of Business
Administration with a Finance Major. He completed his BBA from the
same institution as well. Previously, Debashish worked at LankaBangla
Securities Limited as a sell-side analyst for close to two and a half
years. He currently covers manufacturing stocks for USL Research,
primarily focusing on Pharmaceuticals, Consumer Goods, and Power
Generation sectors. Debashish passed CFA Level-I examination in
December 2016.
Md. Rakibul Hassan
Md. Rakibul Hassan is a Research Associate in United Securities
Limited. He has completed his MBA with concentration in Finance
from Institute of Business Administration (IBA), University of Dhaka. He
was in the Director’s honor list for his academic performances in MBA.
He is a 2019 Level II candidate in the CFA exam. He is passionate
about equity research, fund management, and risk management
issues.

23. 2121
Contact: research@unitedsecurities.com.bd
The market is seeing more efficient and smart
participants who are making more informed
decisions rather than herd following. It has become
a critical factor to have a deep understanding of
the financial dynamic of a particular stock coupled
with the country’s economy and industry where
it’s operating in. We believe in specialization
and focus team work, therefore we have a
dedicated team of experienced capital market
research professionals. Our in-house dedicated
analysts, powered with the Bloomberg terminal,
are constantly staying up to date with the relevant
latest happenings and advancements in the
industry to protect our clients’ valuable investments
from any kind of unruly issues.
Our Research Products:
Daily- Morning Insight & Closing Insights
Weekly- Closing Insights
Monthly Market Insights
Yearly Market Strategic Report
Company Specific-
Initiating coverage
Updating coverage
Quarterly earnings update
Policy update
Monetary policy
Budget review

24. 22
UNITEDSECURITIES
Nazib H. Chowdhury
Nazib H. Chowdhury is currently heading the foreign desk of USL.
He works cross -border with international fund managers to assist
them in taking exposure in the local equity market. Nazib also works
closely with the in-house research team to generate equity strategy
to keep the fund managers updated from the ground. Additionally,
he arranges road shows and conference calls to assist the
international investors to have a better view of the potential investee
companies. Nazib has over 6 years of experience in the capital
market of Bangladesh. Prior to USL, he worked at Brummer & Partners
Bangladesh, a Swedish asset management company’s Dhaka office,
as an investment associate. He started his career at LankaBangla
Securities Ltd, as a research associate. He holds a BBA degree, major
in finance and minor in economics, from North South University.
USL has established a dedicated foreign desk to facilitate foreign institutional
clients demand. The foreign desk is equipped with a dedicated trading platform,
accompanied with Bloomberg Terminal to ensure maximum accessibility by the
international fund managers. The team works toward ensuring
Confidentiality
Arrange bulk share flow
Pick market intelligence
Arrange road shows and conference calls
With a deep rooted network in the industry, coupled with experience, the team is
strategically well positioned to give a better experience to the foreign investors in
giving access to local equity market.
FT@unitedsecurities.com.bd
Find us on Bloomberg: ERH USL <GO>
Foreign Trade & Sales

25. Contact Us Top Executives
Mr. Md Khairul Anam Chowdhury (Sohel)
Chief Executive Officer & Director
sohel@unitedsecurities.com.bd +880 1730334499
Mr. Razib Al Mamun
Chief Operating Officer & Director
razib@unitedsecurities.com.bd +880 1713450450
Mr. Md. Ashaduzaman Riadh, CFA, FRM
Chief Investment Officer & Director
riadh@unitedsecurities.com.bd +880 1730310031
Mr. Md. Mahfuzur Rahman
Chief Business Development Officer & Director
mrahman@unitedsecurities.com.bd +880 7130359025
Corporate Head Office
Gulshan Centre Point, Level 8, House 23-26
Road 90, Gulshan 2, Dhaka 1212, Bangladesh
info@unitedsecurities.com.bd +880 2 550 52 000
Motijheel Branch
City Center, 11D (Level 12)
90/1, Motijheel C/A, Dhaka 1000
Foreign Desk
ft@unitedsecurities.com.bd Direct: +880 2 550 51 839
Website
www.unitedsecurities.com.bd