Chaudhary Group

Chaudhary Group
Private
Industry FMCG, Financial Services, Hotels and Resorts, Consumer Electronics, Realty, Education, EPC, Cement, Infra
Founded 1968
Founder Mr. Lunkaran Das Chaudhary
Headquarters Chaudhary Group, Kathmandu, Nepal
Area served
 Worldwide
Key people
 Binod Chaudhary (President)
Revenue US$ 1.14 billion
Divisions CG|Foods,
CG|Finco,
CG|Hotels & Resorts,
CG|Education,
CG|Electronics,
CG|Infra,
CG|Realty,
CG|Telecom,
CG|Brewery,
CG|Beverage,
CG|Tobacco,
CG|Packaging,
Chaudhary Foundation
Website www.cgcorpglobal.com

Chaudhary Group (CG Corp Global) is a multi-national conglomerate headquartered in Nepal. It has diversified business interests including financial services, fast-moving consumer goods, education, hospitality, energy, EPC, consumer electronics, realty, biotech and Ayurveda. The group runs 136 companies under 15 different business verticals.

Mr. Binod K. Chaudhary, President of Chaudhary Group

The group is led by Mr. Binod K. Chaudhary, who is the only billionaire from Nepal to be listed by Forbes.[1] His current net valuation is USD 1.14 billion as recently published by the magazine.[2]

Biond’s three sons – Nirvana, Rahul, and Barun – look after the different verticals in the family-owned business.

History

The group traces its history to Binod’s grandfather late Mr. Bhuramull Chaudhary towards the end of the eighteenth century. A resident of Churi-Ajitgarh village in Shekhawati district of Indian state Rajasthan, he was invited to Nepal at the behest of erstwhile Rana rulers to do business. He sold clothes to the royalty and high-end customers in Kathmandu going from door to door, and later started his own store in Kathmandu.

It was Binod’s father late Lunkaran Das Chaudhary who actually laid the foundations of the group. He imported high-end consumer electronics and ready-made garments from Japan, South Korea, Europe and India and started Nepal’s first departmental store Arun Emporium in 1968. He also exported Jute to the U.S. and Europe in the early 1960’s when Nepal’s trade with outside world was limited to India. He is claimed to have started many new business ventures in Nepal, such as construction company, flooring and furnishing, and exporting manufactured food (biscuits) to India, as Binod has written in his autobiography.

Business Verticals

1. Food

2. Financial Services

3. Hotels & Resorts

4. Education

5. Cement

6. Electronics

7. EPC

8. Infra

9. Realty

10. Brewery

11. Beverage

12. Telecom

13. Tobacco

14. Packaging

15. Biotech

Wai Wai Noodles

Logo of Wai Wai noodles

Wai Wai is a brand of instant noodles produced initially in Thailand by Thai Preserved Food Factory Co. since 1972,[3] Chaudhary Group introduced it in Nepal in 1985.[4] Wai Wai is pre-cooked and flavored before packaging, so it can be eaten straight from the package or cooked in soup form. The Chaudhary Group has built two plants in Nepal and six plants in India for the manufacture and distribution of Wai Wai noodles. It is expanding new plants in Nepal, India, Bangladesh, Serbia, and Saudi Arabia. Wai Wai is mostly consumed raw but also can be consumed cooked as well. Along with other noodle brands, one segment of Wai Wai was banned in Tamil Nadu state of India in 2015 for a period of 3 months citing higher level of lead.[5][6] Assam Government had also banned Wai Wai for one month under Food Safety and Standard Act 2006.[7] Subsequently, concerned authorities gave the popular noodles a clean sheet. [8] Wai Wai, which claims 20 percent market shares in the Indian market, has apparently benefited from the noodle controversy and has resurfaced in the Indian market with aggressive business plans from the Chaudhary Group.[9]

Corporate Social Responsibility (CSR)

The group runs its CSR programs through Chaudhary Foundation, under five priority areas:

1. Disaster Risk Management

2. Livelihood and Skill Development

3. Employment Generation

4. Enterprise Development

5. Heritage & Spiritual Development

Post-earthquake Rehabilitation

Transitional shelter built by Chaudhary Group in Madevsthan of Kavre district, approximately 60km east of Kathmandu.

The Chaudhary Foundation has committed to build 10,000 transitional shelters to the survivors of 25 April 2015 earthquake in Nepal.[10] It has also committed to build 100 buildings for the schools damaged in the earthquake.[11] At a press conference organized in January in Kathmandu, the Foundation announced it handed over 1700 shelters and 30 school buildings, and gave details on the progress of its shelter and school projects. [12]

Financial Services

Nabil Bank is a commercial bank owned by the private sector in Nepal. Chaudhary Group has a majority stake in the bank.

Chaudhary Group has a controlling stake in Nabil Bank, Nepal's largest private-sector commercial bank. Nabil had the major share in billionaire valuation of Forbes. The group also operates CG Finco (financial company), United Remit (remittance company), United Finance (financial company), and United Insurance Company.

CG Hotels and Resorts

A view of Summit Hotel's open terrace restaurant, Lalitpur, Kathmandu Valley. Chaudhary Group owns the Hotel.

The hospitality arm of Chaudhary Group, CG Hotels and Resorts, has 82 hotels under its umbrella under different categories: JV Investment with other brand-managed hotels, JV investment with other brand-owned hotels, JV investment with own brand-owned hotels, JV investment with owned brand-managed hotels, and owned hotels. The total number of keys is 4981.

CG Education

Chaudhary Group runs Chandbagh schools, Campion schools and colleges, and Delhi Public School in Nepal. Outside Nepal, it has stakes in AEC Education and Malvern House in UK, Cyprus, Ireland, Singapore, and Malaysia.

CG Electronics

Under the electronics vertical, the group assembles (CKD & SKC) and distributes consumer electronics (smartphones, refrigerator, washing machine, microwave oven, TV, vacuum cleaner, and various other products) across Nepal. It also imports and distributes other brands such as TCL, Intex, Godrej, and Kelvinator. But the most eminent brand that the group deals in is LG of South Korea.[13]

References

  1. ↑ "Binod Chaudhary: Nepal's first dollar-billionaire businessman - Binod Chaudhary: Nepal's first dollar-billionaire businessman - The Economic Times". The Economic Times. Retrieved 2016-03-20.
  2. ↑ "Binod Chaudhary & family". Forbes. Retrieved 2016-03-20.
  3. ↑ "Company History". Thai Preserved Food Factory Co., Ltd. Retrieved 2016-02-29.
  4. ↑ "Beating Hunger With Wai Wai". Chaudharygroup.com. Retrieved 2016-02-29.
  5. ↑ "India's Tamil Nadu bans several noodle products, including Nestle's".
  6. ↑ "It's Not Just Maggi: Tamil Nadu Bans Wai Wai, Smith And Jones And Reliance Select Noodles". Huffingtonpost.in. Retrieved 2016-02-29.
  7. ↑ Singh, Bikash (2015-06-15). "Assam government prohibits sale of two variants of Wai Wai noodles for 30 days". Economictimes.indiatimes.com. Retrieved 2016-02-29.
  8. ↑ "Assam lifts ban on Wai-Wai noodles". indiatoday.intoday.in. Retrieved 2016-03-20.
  9. ↑ "Makers of Wai Wai now eye buys to move beyond noodles".
  10. ↑ "CG to Build 10K Temp Homes for Quake-Hit".
  11. ↑ "Binod Chaudhary Helps Rebuild Nepal".
  12. ↑ "Chaudhary Foundation builds 1,700 transitional shelters".
  13. ↑ http://www.cgcorpglobal.com/index.php/our-company/electronics-a-white-goods.html

External links

This article is issued from Wikipedia - version of the Saturday, April 16, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.