Malaysian Exodus Group to invest in Bangladeshi startup Holister

Exodus group, a well-known Malaysian company, is going to invest in Holister, a logistics company in Bangladesh. 

This year, they will invest over Tk 5 crore in the first phase and larger amounts in the next three phases, said a press release. 

Holister CEO Zarif Rashid Ahmed said, "I am very happy that we were able to attract foreign investors from the beginning. Although Holister started in full swing six months ago, its planning and journey started two years back through online business on Facebook" 

About Holister's services, Zarif Rashid Ahmed said, "We are the first in Bangladesh not to charge extra on return and cash on delivery products. I firmly believe that other logistics companies will stop taking return and cash on Delivery charges from merchants, because in my opinion the return charge taken from the merchants is completely unreasonable. They are facing losses for taking these charges, as well as losing interest in doing business. Holister is also the first in country to launch a payment service within 30 minutes of product delivery giving merchants an additional service to help them grow their business.

Holister has developed mobile application to properly implement this payment process. 

"We also have warehousing facilities for merchants which we provide completely free of cost. We've developed an app that is available in the Google Play Store, App Store, and anyone can access Holister's services through our website so that merchants can receive our services in a easy way," he added. 

Exodus Group Managing Director Dr Daniel Yap said, "This is a good time to invest in the logistics sector in Bangladesh because the sector is now booming and promising. I believe Holister will be one of the leading logistics company in Bangladesh within next year. We are very happy that the two companies can work together creating modern tech based logistics in Bangladesh."

Holister Chairman SM Mahfuzul Huq said, "Our goal is not just to attract foreign investors to the country, but to establish domestic institutions outside the country."

Asked about signing the agreement between Exodus and Holister, the COO Waqar Alam said, "I am very excited and hopeful to be able to work with a world-class company like Exodus. Together the two companies will play a big role in the country's economy."