Latest news with #AACT
Yahoo
05-06-2025
- Business
- Yahoo
Muhammed Aziz Khan Expands Educational Access for 10,000 Disadvantaged Children Through Charitable Trust
DHAKA, Bangladesh, June 4, 2025 /PRNewswire/ -- The Anjuman & Aziz Charitable Trust (AACT), founded by Summit Group Chairman Muhammed Aziz Khan and his wife Anjuman Aziz Khan, today announced the expansion of its educational initiatives to support nearly 10,000 disadvantaged children across Bangladesh. This significant scale-up reinforces the Trust's commitment to providing quality education to vulnerable children, particularly those affected by the COVID-19 pandemic. AACT's expanded program builds on its four-year partnership with UNICEF Bangladesh, established in 2022, which initially focused on helping 3,000 out-of-school children in Dhaka South City Corporation Zones 3, 4, and 5 re-enter education and catch up on lost learning. The Trust's comprehensive approach now encompasses multiple educational programs through strategic partnerships with leading organizations. "Every child is the future, if we want a future we must enable the child, that via education. Education is not only children's right, it's our survival," said Muhammed Aziz Khan, Founder and Chairman of Summit Group, and Founder and Trustee of AACT. "Our inspiration to support Dhaka South came from my deep roots in businesses which started in Dhaka's Chawk Bazar and Urdu Road." The expanded initiative includes continued support for Prothom Alo Trust's Alor Pathshala program, which currently operates seven schools in hard-to-reach areas such as Kurigram, Bhola, Naogaon, Teknaf, Bandarban, and two in Rajshahi. Since 2009, this program has educated more than 1,350 students aged 6-16 in remote regions, with 900 students having passed at least the 5th grade to date. AACT has also strengthened its partnership with the SEID-Summit Community Therapy School in Kamrangirchar, which provides essential services to 98 differently-abled children from low-income families. Since 2009, Summit Group has supported this school, offering specialized education and income-generating training like embroidery, batik, sewing, and cooking skills. Additionally, the Trust continues its support for the Jaago Foundation, which provides English-curriculum education to financially disadvantaged children. In 2021, when Jaago faced a funding crisis, Summit Corporation provided a matching fund for three years, enabling the organization to educate 4,500 students across 10 schools in 11 districts. "I am so delighted to see the good works of UNICEF and our other partners. Every child must be protected, every child must be educated, and they must be happy children to have a future," Muhammed Aziz Khan has stated regarding the Trust's educational mission. The Khans made history in 2022 as the first Bangladeshis to join the UNICEF International Council, a distinguished community of approximately 150 private philanthropists and global influencers who pool their funding and expertise to optimize investments for children worldwide. This expanded educational initiative further demonstrates their growing commitment to creating sustainable educational opportunities for Bangladesh's most vulnerable children. About Summit Group Founded in 1973 by Muhammed Aziz Khan, Summit Group is the largest infrastructure conglomerate in Bangladesh, employing over 6,000 people with investments across energy, ports, logistics, and information technology sectors. Summit Power International, incorporated in Singapore in 2016, is a leading infrastructure developer and operator in South Asia whose strategic partners include JERA, Mitsubishi Corporation, and GE. The group is committed to providing affordable, sustainable energy solutions while supporting corporate social responsibility initiatives in education, healthcare, and community development. About The Anjuman & Aziz Charitable Trust (AACT) Founded in 2020 by Muhammed Aziz Khan and his wife Anjuman Aziz Khan, The Anjuman & Aziz Charitable Trust focuses on providing quality education to disadvantaged children across Bangladesh. Through partnerships with UNICEF Bangladesh, Prothom Alo Trust, and other organizations, AACT currently supports educational initiatives for nearly 10,000 vulnerable children, including those in remote rural areas and differently-abled students. The Khans became the first Bangladeshis to join the UNICEF International Council in 2022. About Muhammed Aziz Khan Muhammed Aziz Khan, PBM, is the founder and Chairman of Summit Power International Limited and Summit Holdings Ltd. A Singapore citizen of Bangladeshi origin, he has led Summit Group from Bangladesh's first private sector power producer to a diversified infrastructure conglomerate. In 2024, Khan was appointed Chair of the UNICEF International Council, recognizing his longstanding commitment to education and child welfare. He received the Public Service Medal (COVID-19) and Pingat Bakti Masyarakat from Singapore's Prime Minister's Office in 2023 for his outstanding contributions during the pandemic. Mr. Khan holds an MBA from the Institute of Business Administration (IBA), University of Dhaka and serves as Honorary Consul General of Finland to Bangladesh (2016-2025). He is also the Chairman of Siraj Khaleda Trust, Anjuman & Aziz Charitable Trust (AACT), and serves on the Board of Trustees of the Asian University for Women (AUW). Contact: Media Contact: Mohsena HassanEmail: View original content to download multimedia: SOURCE Summit Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-06-2025
- Business
- Yahoo
Muhammed Aziz Khan Expands Educational Access for 10,000 Disadvantaged Children Through Charitable Trust
DHAKA, Bangladesh, June 5, 2025 /PRNewswire/ -- The Anjuman & Aziz Charitable Trust (AACT), founded by Summit Group Chairman Muhammed Aziz Khan and his wife Anjuman Aziz Khan, today announced the expansion of its educational initiatives to support nearly 10,000 disadvantaged children across Bangladesh. This significant scale-up reinforces the Trust's commitment to providing quality education to vulnerable children, particularly those affected by the COVID-19 pandemic. AACT's expanded program builds on its four-year partnership with UNICEF Bangladesh, established in 2022, which initially focused on helping 3,000 out-of-school children in Dhaka South City Corporation Zones 3, 4, and 5 re-enter education and catch up on lost learning. The Trust's comprehensive approach now encompasses multiple educational programs through strategic partnerships with leading organizations. "Every child is the future, if we want a future we must enable the child, that via education. Education is not only children's right, it's our survival," said Muhammed Aziz Khan, Founder and Chairman of Summit Group, and Founder and Trustee of AACT. "Our inspiration to support Dhaka South came from my deep roots in businesses which started in Dhaka's Chawk Bazar and Urdu Road." The expanded initiative includes continued support for Prothom Alo Trust's Alor Pathshala program, which currently operates seven schools in hard-to-reach areas such as Kurigram, Bhola, Naogaon, Teknaf, Bandarban, and two in Rajshahi. Since 2009, this program has educated more than 1,350 students aged 6-16 in remote regions, with 900 students having passed at least the 5th grade to date. AACT has also strengthened its partnership with the SEID-Summit Community Therapy School in Kamrangirchar, which provides essential services to 98 differently-abled children from low-income families. Since 2009, Summit Group has supported this school, offering specialized education and income-generating training like embroidery, batik, sewing, and cooking skills. Additionally, the Trust continues its support for the Jaago Foundation, which provides English-curriculum education to financially disadvantaged children. In 2021, when Jaago faced a funding crisis, Summit Corporation provided a matching fund for three years, enabling the organization to educate 4,500 students across 10 schools in 11 districts. "I am so delighted to see the good works of UNICEF and our other partners. Every child must be protected, every child must be educated, and they must be happy children to have a future," Muhammed Aziz Khan has stated regarding the Trust's educational mission. The Khans made history in 2022 as the first Bangladeshis to join the UNICEF International Council, a distinguished community of approximately 150 private philanthropists and global influencers who pool their funding and expertise to optimize investments for children worldwide. This expanded educational initiative further demonstrates their growing commitment to creating sustainable educational opportunities for Bangladesh's most vulnerable children. About Summit Group Founded in 1973 by Muhammed Aziz Khan, Summit Group is the largest infrastructure conglomerate in Bangladesh, employing over 6,000 people with investments across energy, ports, logistics, and information technology sectors. Summit Power International, incorporated in Singapore in 2016, is a leading infrastructure developer and operator in South Asia whose strategic partners include JERA, Mitsubishi Corporation, and GE. The group is committed to providing affordable, sustainable energy solutions while supporting corporate social responsibility initiatives in education, healthcare, and community development. About The Anjuman & Aziz Charitable Trust (AACT) Founded in 2020 by Muhammed Aziz Khan and his wife Anjuman Aziz Khan, The Anjuman & Aziz Charitable Trust focuses on providing quality education to disadvantaged children across Bangladesh. Through partnerships with UNICEF Bangladesh, Prothom Alo Trust, and other organizations, AACT currently supports educational initiatives for nearly 10,000 vulnerable children, including those in remote rural areas and differently-abled students. The Khans became the first Bangladeshis to join the UNICEF International Council in 2022. About Muhammed Aziz Khan Muhammed Aziz Khan, PBM, is the founder and Chairman of Summit Power International Limited and Summit Holdings Ltd. A Singapore citizen of Bangladeshi origin, he has led Summit Group from Bangladesh's first private sector power producer to a diversified infrastructure conglomerate. In 2024, Khan was appointed Chair of the UNICEF International Council, recognizing his longstanding commitment to education and child welfare. He received the Public Service Medal (COVID-19) and Pingat Bakti Masyarakat from Singapore's Prime Minister's Office in 2023 for his outstanding contributions during the pandemic. Mr. Khan holds an MBA from the Institute of Business Administration (IBA), University of Dhaka and serves as Honorary Consul General of Finland to Bangladesh (2016-2025). He is also the Chairman of Siraj Khaleda Trust, Anjuman & Aziz Charitable Trust (AACT), and serves on the Board of Trustees of the Asian University for Women (AUW). Contact: Media Contact: Mohsena HassanEmail: View original content: SOURCE Summit Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18-04-2025
- Business
- Yahoo
SPAC Frenzy Returns: $1.8 Billion Floods In as IPO Market Crashes
Since Trump dropped a tariff bomb on global markets, killing IPO appetite and slashing over $2 trillion from the S&P 500, you'd think risk-taking would go into hibernation. Not quite. Nearly a dozen SPAC sponsors have quietly filed to raise a combined $1.8 billion this month alone. Why? Because when the IPO market dies, the blank-check crowd smells opportunity. Serial sponsors like Harry You and Alec Gores are back at the tablebetting that the IPO drought will force private companies into their arms. EY's Mark Schwartz put it bluntly: SPACs thrive when traditional exits stall. Warning! GuruFocus has detected 2 Warning Sign with AACT. Momentum is already building. Ares Acquisition Corp II (NYSE:AACT) just announced a $2.5 billion deal with Kodiak Robotics, a self-driving trucking firm. That same day, shares of former SPAC Webull Corp (NASDAQ:BULL) spiked 500%a reminder that in this corner of the market, anything can happen. With $4.1 billion already raised by SPACs this year, the playbook is back in motion: small-float names, big pops, and sponsors betting the public markets are still hungry for a certain kind of storyone with no better path to listing. But let's be clear: this is a buyer's market. Two-thirds of post-merger SPACs since 2019 are down more than 80%. Most trade below the $10 launch price. Hedge funds are only sticking around for the safety netcash redemption plus interestnot the moonshots. As Columbia's David Erickson noted, this isn't a great alternative, it's the only one left for startups that have outstayed their welcome in the private markets. No bells. No whistles. Just survival. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
18-04-2025
- Business
- Yahoo
SPAC Frenzy Returns: $1.8 Billion Floods In as IPO Market Crashes
Since Trump dropped a tariff bomb on global markets, killing IPO appetite and slashing over $2 trillion from the S&P 500, you'd think risk-taking would go into hibernation. Not quite. Nearly a dozen SPAC sponsors have quietly filed to raise a combined $1.8 billion this month alone. Why? Because when the IPO market dies, the blank-check crowd smells opportunity. Serial sponsors like Harry You and Alec Gores are back at the tablebetting that the IPO drought will force private companies into their arms. EY's Mark Schwartz put it bluntly: SPACs thrive when traditional exits stall. Warning! GuruFocus has detected 2 Warning Sign with AACT. Momentum is already building. Ares Acquisition Corp II (NYSE:AACT) just announced a $2.5 billion deal with Kodiak Robotics, a self-driving trucking firm. That same day, shares of former SPAC Webull Corp (NASDAQ:BULL) spiked 500%a reminder that in this corner of the market, anything can happen. With $4.1 billion already raised by SPACs this year, the playbook is back in motion: small-float names, big pops, and sponsors betting the public markets are still hungry for a certain kind of storyone with no better path to listing. But let's be clear: this is a buyer's market. Two-thirds of post-merger SPACs since 2019 are down more than 80%. Most trade below the $10 launch price. Hedge funds are only sticking around for the safety netcash redemption plus interestnot the moonshots. As Columbia's David Erickson noted, this isn't a great alternative, it's the only one left for startups that have outstayed their welcome in the private markets. No bells. No whistles. Just survival. This article first appeared on GuruFocus.
Yahoo
15-04-2025
- Automotive
- Yahoo
Kodiak Robotics to go public through merger with AACT
Kodiak Robotics, a developer of autonomous vehicle technology, has signed a definitive business combination agreement with Ares Acquisition Corporation II (AACT), a special purpose acquisition company affiliated with Ares Management Corporation. Upon completion of the transaction, Kodiak will become a publicly listed company in the US under the name Kodiak AI. Founded in 2018, Kodiak focuses on AI-powered autonomous driving systems for the commercial trucking industry. Its core product, the Kodiak Driver, is a single-platform solution combining AI software and modular hardware designed to integrate with customers' existing logistics operations. The boards of Kodiak and AACT have unanimously approved the proposed merger. The business combination values Kodiak at a pre-money equity valuation of $2.5bn. The transaction is expected to provide the combined company with approximately $551m in cash from AACT's trust account, assuming no redemptions. Institutional investors, including affiliates of Soros Fund Management, ARK Investments, and Ares, have committed over $110m in support of the transaction. Existing investor ARK Investments has reaffirmed its support for Kodiak. Kodiak founder and CEO Burnette said: 'We believe entering the public markets will accelerate our strategy to expand our existing partner relationships, provide our technology to a broader customer base, and deliver enhanced solutions across the commercial trucking and public sector industries.' Subject to shareholder approval and other customary closing conditions, the transaction is expected to close in the second half of 2025. AACT CEO and co-chairman of the board of directors and co-founder of Ares David Kaplan said: 'As an early-mover in autonomous trucking and first to deliver a commercial driverless product to a customer, Kodiak has quickly set itself apart as an industry leader in a significant addressable market.' "Kodiak Robotics to go public through merger with AACT" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
