SYED AHAMAD KIRON
Managing Director & CEO
Shova Advanced Technologies Limited
Shova Advance Technologies Ltd was established in 2004. But its journey started back in 1999. The end of the millennial brought a revolutionary idea to my mind, which I knew would bring a new tide into the weighing scales sector of our country. I knew how ominous the weighing scales sector was because of unlicensed weighing scales and what amount of loss it was causing. As an example, the rice carrying trucks. Bangladesh being an agricultural-based country; is always in constant need of rice. The trucks, which would carry the rice, would weigh 300gm extra on each bag of rice. Each truck would contain 300 bags of rice and if every day 10 trucks of rice were to send out of a single factory then each day 900 kg of extra weight would be carried out. Again if each kg of rice were to cost 35.00 BDT, then we would be at a 31500.00 BDT of extra cost. And in 1 year the numbers would add up to 114.00 Lac BDT. And if all the rice-producing industries were to be taken into production then a staggering 574875.00 Lac BDT would be lost only because of faulty weighing scales. And these were the number of only rice mills. This is one of the most overlooked sectors of our country. This ignorance is killing our economy bit by-bit acting as a slow poison. But we have changed this by revolutionizing the weighing scale in Bangladesh.
The business we’re doing is very reliable with very few chances of loss. If said in numbers a 5 BDT investment would result in revenue of 20 BDT. We have already invested an amount of 50 crores in this business and the revenue is already coming in, so much so that we get 2 crores only from annual service cost. We already have the whole market in our hands being able to reach almost all the industries even the wholesalers. The market might be in our hands but it is still not fully flourished because of lack of investment. we are now looking forward to opportunities of creating new and much more innovative industries. Besides creating all types of Digital Weighing Scales, Computerized Weigh Bridges, we would be manufacturing different categories of Batteries, Moulds, MS & steel bars, Printed Circuit Boards & Load Cells which are currently being imported from foreign countries like China, India, Korea, Malaysia & Japan. And we also have successfully created a great market for these products after marketing them for long 13 years. These proposed industries would help save foreign currency and also put an impact on the socio-industrial sector of our country. Overall this is a great opportunity to create employment and has a noticeable effect on the GDP of our country.