Copyright © Tolaram 2015




Tolaram Corporation

Singapore, Benin, Estonia, Ghana, India, Indonesia, Nigeria, Togo, UAE

The Group’s Head Office is located at 1A International Business Park, Singapore. Central functions like Business Development, Communications, HR, Finance and Internal Audit are co-ordinated from this office.

Chief Financial Officer

Navin Nahata has 16 years of experience of working in India, Nigeria and Singapore. Navin started his career with ICICI Ltd., the largest private sector commercial bank in India, wherein he worked in the areas of treasury and corporate relationship management. He joined Tolaram Group in Nigeria in 2004 as the Chief Financial Officer of the Nigerian operations of the Group. He was given the additional charge of managing the operations of Panabiz International, a subsidiary involved in the business of office automation solutions in 2007.

He was promoted as the Chief Finance Officer of Tolaram Group in 2009. Since 2010, he is also part of the Executive Committee of the Lekki Port Project, a mega infrastructure development of the Group.

Group CFO - Nigeria

Dinesh Rathi joined the Group in 2004 as Financial Controller of Lucky Fibres and was subsequently promoted to the position of Chief Operating Officer (COO) in June 2005. He became the Group CFO in 2009 and was responsible for managing relationships with key banks as well as being involved in several mergers and acquisitions for the Group in Nigeria.

He holds a Management Education Program from the Indian Institute of Management and is a Chartered Accountant of The Institute of Chartered Accountants of India. He also has a Bachelor of Commerce (Honours) from St. Xavier’s College, Kolkata.

Amar Bank


Established in 1991, Amar Bank offers retail banking through branches in Surabaya and Jakarta.

Arzu Utama Realty


ARZURIA is a luxury residential apartment conveniently located in the fringe of Jakarta Central Business District. This strata-titled apartment comprises of 214 including four penthouses situated within two wings of 33 and 39 levels.

Head, Real Estate

Tan Swee Siong joined the Group in April 2006 as Head, Real Estate. He oversees all investment, divestiture, development, management and capital market activities in Tolaram’s real estate portfolio.

He holds a B.Eng (Hons) from the National University of Singapore and obtained MBA's from both Melbourne Business School and Johnson Graduate School of Management in Cornell University. Swee Siong also holds a Capital Market Service License in “Advising on Corporate Finance”.



With a fleet of 700 trucks, BHN provides haulage services to many blue-chip companies in Nigeria.

General Manager

Porus Doctor has served companies like MultiPro, Insignia for five years as part of the senior management team, before becoming General Manager of BHN Division of MultiPro Enterprises Limited in November 2009.

He has over 16 years of work experience and was previously working with esteemed auditors, Deloitte, for five years before joining Tolaram Group. He is a qualified Chartered Accountant from India.

Dufil Prima Foods


Dufil Prima Foods PLC (a joint venture with Salim Group) manufactures and markets instant noodles, pasta, cooking oil and snacks in West Africa with plants located in the Nigerian cities of Kaduna, Ota and Port Harcourt. The company also manufactures flour, seasoning and packaging material. Its flagship brands are Indomie instant noodles, Power Pasta, Power Oil and Minimie snacks.

Group CEO

Deepak Singhal joined the Group in 2000 and has been instrumental in successful completion of the backward integration of the Group for the FMCG portfolio. He was previously the COO of Multipro and Tolaram Nigeria, before becoming the Group CEO, Nigeria of the Group.
He is a graduate from Calcutta University and is an Associate member of the Institute of Chartered Accountants of India and Institute of Company Secretaries of India.



First Choice Retailing Limited is the largest chain of organised retail stores providing Nigerians with convenient shopping for their everyday needs. There are currently 250 outlets under the brand of “Best Choice” in Lagos, with plans to extend the brand to other cities.

General Manager

Kunal Malhotra is the General Manager of Lucky Fibres. He began his career with the Group in 2007 as a Relationship Manager in BHN. He was promoted to head the Logistics department of BHN in 2009 and subsequently as General Manager of Panabiz International Ltd in February 2010. He was later given the assignment to turn around Asian Motors Limited in December 2011 and led Asian Motors to record its highest ever sales in a five month period during 2012.

He graduated from Purdue University with a Bachelor of Science in Business Administration in 2003.



Horizon Pulp and Paper Limited is Estonia’s only integrated producer of quality unbleached sack kraft paper, and supplies to over 50 countries around the world. In 2013, the company celebrated its 75th year of operations.


Bashyam Krishnan joined Tolaram in 2013 as Group CEO of Horizon Pulp & Paper. He has over 10 years of senior management experience in various countries.

He holds a Bachelor of Engineering in Chemical Engineering from the Birla Institute of Technology & Science, Pilani, India.



Horizon Tissue manufactures toilet rolls, kitchen towels and napkins for export to Baltic and Nordic countries. The brand operates under the name “Daisy” in the private label segment, and counts some of the country’s leading retailers as its customers.



Launched in 2011, Hypo Bleach holds the highest market share in its category, and aims to significantly impact the availability of hygiene and sanitation solutions for Nigerians.

General Manager

Hypo Division’s mission is to supply affordable, best-in-class hygiene products with a vision of enhancing consumers’ standard of living by promoting hygiene. At the helm of the Company is Praveen Katarki, a veteran in the Nigerian market. He first joined the Tolaram Group in 2008 as the marketing manager for Indomie® and subsequently served in the Hypo Division in 2011 in the same capacity. In 2013, Praveen became the brand manager of Power® Pasta spaghetti before assuming his current role as the GM of Hypo Division. He holds both bachelors’ in Mechanical Engineering and a subsequent MBA (Marketing & IT), in 2008, from IBS Pune, India.



Spread over an area of 800 hectares, the Lagos Free Trade Zone (LFTZ) serves as an industrial and commercial hub for West Africa. LFTZ is strategically located to facilitate trade and boost the economy of Nigeria as well as neighbouring countries in Africa.


The LFTZ enterprise is led by Chief Financial Officer Ashish Khemka who oversees the company’s daily operations. Ashish joined the Tolaram Group in 2013 and was involved in the Group’s corporate strategy in Nigeria before taking leadership of LFTZ. He also has previous work experience in audit at Ernst and Young and treasury services at ICICI Bank. Ashish holds a Bachelor of Commerce in Accounting and Finance from the University of Calcutta and is a certified Chartered Accountant.



A USD 1.5 billion project, the Lekki Deep Sea Port will be the first privately built port in Nigeria and is slated to become the largest port in the country upon its completion.

Chief Financial Officer

Sandeep has a wealth of experience of over 16 years in the area of Corporate Finance and Financial Control having worked with several of India’s largest conglomerates.

Sandeep joined the Tolaram group as Finance Controller for one of the Group companies Panabiz International Ltd in 2006 and moved on to be the General Manager – Corporate Finance for the Group’s Nigerian Operations. Currently, he is the CFO of LPLE and a Key Project Development Team Member.

Sandeep is Chartered Accountant and Company Secretary by professional qualifications and holds a degree of Bachelor of Commerce from St. Xavier's College, Calcutta University, India.



Lotus Indah Textile Industries produces Synthetic Spun Yarns from Ring Spinning (100% Polyester, 100% Viscose & Poly/Viscose), Open End Spinning (100% Polyester & 100% Viscose) and Murata Vortex Spinning (100% Viscose) in Single, Double (TFO) and Multifold. The company exports to over 30 countries in the world.


Arvind has over 25 years of experience in B2B International Sales & Marketing, Strategic Planning, Acquisition, Projects, mainly in the textile industry in India and South East Asia. He has previously held several senior roles including the role of Chief Marketing Officer at Aditya Birla Group (Indonesia) and Head of Sales & Marketing with Indorama Synthetics Ltd (India).

Arvind has a bachelor’s degree in Chemical Engineering from India, MBA in Operations Management from USA. He has also done an Executive program in Supply Chain Management from Indian Institute of Management, Calcutta – India.



Lucky Fibres PLC is the largest integrated manufacturer of printed, woven and tufted carpets and rugs in West Africa. Marketed under the brand Nobel Carpets, it is a household name for rugs and carpets in Nigeria. Its resources are also employed in contract manufacturing.

General Manager

Jitesh Pamnani is the General Manager of Lucky Fibres. He joined the Group in May 2003 as Assistant Manager in Accounts Department of Multipro Enterprises Limited. In May 2005, he was promoted as Finance Controller in Lucky Fibres PLC. In August 2008, he was moved as Finance Controller of Multipro Enterprises Ltd. His hard work and passion for excellence was rewarded by his promotion as General Manager of Multipro Private Limited, Ghana in March 2010. Under his leadership, the business has grown 3 times and it’s on a much stronger footing. He was moved as General Manager of Multipro Enterprises Limited, Nigeria in July 2012 and from May 2014, he handled Africa Expansion for Consumer Goods.

He is a graduate in commerce from Mumbai University, holds Diploma in Financial Management from Narsee Monjee Institute of Management Studies.

MBH Power

Ghana, India, Nigeria, Tanzania

MBH Power Limited is a total energy solutions company providing world-class services to meet the growing demand of the power sector in emerging markets. It focuses on: •EPC solutions in Transmission and Distribution •Turnkey solutions in Captive Power Generation by using CNG •Metering and Energy Audit •Solar Power Generation MBH Power has now embarked on development of a 300 MW independent power project in Nigeria.


Manish Mittal is CEO of MBH Group. He joined the company in November 2006 and became CEO of Nigeria's operations the following year.

He holds a Bachelor's degree in Electrical Engineering and is an ABB certified Project Manager.


Benin, Ivory Coast, Nigeria, Togo, Democratic Republic of Congo

Multi Pro Enterprises Limited is the largest consumer goods distribution company in West Africa. Its reach is about half a million points-of-sales.

Chief Operating Officer

Pawan Sharma joined Tolaram Group in 2006 as the Head of Marketing in Dufil Prima Foods. Subsequently, he was promoted to become the General Manager of Multipro Enterprises and has progressed to become the COO of Multipro Enterprises.

He holds a Post-Graduate Diploma in Business Management from IPEM, obtained in 1999.



Tolaram Investments AS owns a 10.8 ha industrial site in North Tallinn with approvals to develop the site into a mixed commercial and residential development of 200,000 sq.m. It recently completed the building for Norwegian-owned supermarket chain Rimi. It is also the developer of Pagari One, formerly a KGB headquarters, which has been restored as a complex of 42 luxury apartments. Its subsidiary TH Investments developed and owns a building that houses Hawaii Express Retail and Al Mare Bowling.


Tarvo Teder, the Company’s CEO, first joined the Tolaram Group in 1998 and has undertaken various administrative and operational roles prior to his tenure as the Commercial Director of Baltex2000 (currently known as Phoenix Land). In 2015, he was appointed CEO of Estonia Real Estate. Tarvo holds a Bachelor of Business Administration (Banking) from the Tallinn School of Economics.



Tunaiku is an IT data analytics company, focusing on financial services.


Vishal Tulsian joined the Group in May 2003 as Finance Manager. He became the CEO of Horizon Tissue and Horizon Pulp & Paper in 2006, and is currently the Group Head of Business Development in Indonesia.

He holds a degree in Chartered Accountancy from the Institute of Chartered Accountants in India and he completed his MBA in London.



VConnect is the largest local search engine and ecommerce company in Nigeria. With more than one million businesses listed, it provides extensive information about products, services and companies in Nigeria. It has also been recognised as the “Hottest Tech Startup” in Africa by Forbes Magazine.

General Manager

Deepankar Rustagi joined Tolaram Group in Jan 2008, and has worked with Dufil Prima and Lucky Fibres. In 2011, he was appointed business head to launch Tolaram Group's first venture into digital services, VConnect Global Services.

Prior to joining Tolaram, he was a Business Analyst in Bangalore with Keane, a Boston based IT Services company.
He is an Engineering Graduate from Bangalore.