Rupgonj Po we rP lan

Ja n

Chand ina Po we

Ashu lia Po we

r Sava nt, Pla r

gonj yan ara t, N

er Plant, Comilla Pow ia l ga anganj Powe r Pl Mad an t, N

anj ang ay ar

r

omilla t, C an Pl

Madhabd i Po we rP ingdi arsh t, N lan

Empowering Bangladesh
Summit’s Commitment

Annual Report 2010

para Power Pla Ulla nt,

Maon aP ow er

ur azip t, G an Pl

Sir aj

nj go

vision

To provide quality & uninterrupted electricity to the vast majority of rural Bangladesh for their personal, social & economic development.

“Empowering Bangladesh”

mission

To expand the company into a power generation capacity to the tune of 1000 MW which is 20% of the electricity requirement of Bangladesh and maintain that level.

objectives

• Generate and provide uninterrupted reasonably priced electricity to our customers. • Efficient utilization of capital, machines, material and human resources. • Continuous improvement of customer satisfaction and resource management.

iv

Table of conTenTs
Company Information Corporate Directories Notice of the 14th AGM Chairman’s Speech Introducing the Directors Success Milestones Statement of Corporate Governance Financial Highlights Directors’ Report to the Shareholders Compliance Report on SEC’s Notification Shareholding Information Management Commitee Management Team Senior Executives Introduction of the Senior Executives Memorable Events for 2010 Report of Audit Committee Auditors Report & Financial Statements Proxy form 02 04 06 08 12 18 20 22 24 42 44 45 46 48 50 52 54 57 Annexed

1

Company

2

Information

Summit Power Limited (SPL), sponsored by Summit Group, is the first Bangladeshi Independent Power Producer (IPP) in Bangladesh in private sector providing power to national grid. SPL was incorporated in Bangladesh on March 30, 1997 as a Private Limited Company. On June