Chilime Hydro Power Share Allotted

The much awaited Chilime Hydro Power public share has been allotted and you can view it online on the links below. All the best for the applicants.

Please see here for your allotted shares Chilime Share Allotment Page
and Nagarik Lagani Kosh(Citizen Investment Trust) the main underwriters of Chilime Shares.

If you have any questions please post in Comments.

No bonus to RBB Staff.

Citing on the directive issued to Nepal Oil Corporation last August, the Commission for Investigation of Abuse of 
Authority (CIAA) said that the demand of receiving bonus of Rastriya Banijya Bank (RBB) staff could not be justified. 
Appearing before State Affair Committee under legislature parliament today, CIAA secretary Bhagawati Prasad Kafle 
said that the bonus should not be distributed unless the bank recovers its accumulative loss. The anti-graft body last 
August had directed Nepal Oil Corporation (NOC) to revoke its decision of bonus distribution. "The corporation 
cannot distribute bonus citing profit for one year since it is reeling under accumulative loss," the CIAA had said.

The anti-graft body had also instructed the government not to distribute bonus at any other public entities suffering 

accumulative loss, even if they recorded profit in a specific fiscal year. "The directive issued to NOC should be 

taken an example for all the other public enterprises, if they are incurring accumulative loss," Kafle reiterated, adding 

that the decision will save state coffer.

 

Silvanus is CEO of StanChart Nepal

Joseph Silvanus has been appointed chief executive officer of  Standard Chartered Bank of Nepal (SCB Nepal). 

Silvanus has been with Standard Chartered Bank for more than 19 years when he has handled various portfolios across 

both consumer and wholesale banking. His earlier assignments include areas of strategy and governance, as CEO for 

Afghanistan. His most recent role as the Regional Head, Development Organisations, Southern Asia, perhaps 

best portrays his values and commitment towards supporting development aid and reconstruction efforts. He holds 

a postgraduate degree in management and an honours degree in economics.

In his new role, Silvanus will play a key role in overall governance, compliance, robust management of the country's

balance sheet and overall performance and reputation of the bank, the bank said in a press release. He will serve as a director 

in the board of directors of SCB Nepal. He will be based in Kathmandu and report to Neeraj Swaroop, regional chief executive, 

India and South Asia.

Khetan Group sells out its stake in Bottlers Nepal.

In the largest-ever inter-company share trading, the Khetan Group sold out its entire stake in Bottlers Nepal Ltd (Balaju), 

the maker of Coca Cola carbonated drinks in Nepal, to Gorkha Brewery, a company whose 90 percent stake is owned by 

Dennish multinational brewer giant, Carlsberg Breweries. The Khetan Group had a 22 percent stake in Bottlers Nepal Ltd 

(Balaju).  The leading business houses sold 428,805 units of shares worth Rs 725.1 million on Sunday, first day of the new 

fiscal year when reduced Capital Gain Tax (CGT) came into effect.

Gorkha Brewer is the largest beer maker in Nepal. In the new budget for the fiscal year 2011/12, the government has 

lowered the CGT on corporate share transactions to 10 percent from 15 percent. The group had bought the 22-percent stake 

at around Rs 300 million from Coca Cola Company last year. The huge transaction jacked up the yawning Nepal Stock 

Exchange (Nepse) index by a whopping 19.18 points, highest gain in recent weeks, to 378.41 points on Sunday. Gorkha 

Brewery has paid Rs 1,691 per unit of the shares with a face value of Rs 100. Following the transaction, Bottlers Nepal 

(Balaju) now owns 75 percent stake in the company while 22 percent is owned by Gorkha Brewery and other stakeholders 

own the remaining 3 percent stake of the US multinational company. The Khetan Group, which is a privately-owned 

usiness conglomerate, said the purpose for offloading the stake is to shift its investments to the financial sector from 

the manufacturing sector. 

"Since we are planning to go for acquisitions of banks with Laxmi Bank, we sold the shares of Bottlers Nepal (Balaju) to 

mobilize at least Rs 5 billion we need for the purpose," Rajendra Kumar Khetan, chairman of Khetan Group told Republica. 

The group also has sizable stakes in two leading commercial banks  Laxmi Bank and Himalayan Bank.  besides stakes inEverest Insurance and Prime Life Insurance. The group last year sold its 40 percent stake in Gorkha Brewery to 

Carlsberg Singapore for around Rs 3 billion that trimmed its equity in the company to 10 percent while remaining

90 percent is owned by Carlsberg Singapore. Gorkha Brewery, a dominant brand in the beer market in Nepal, is the 

producer of Carlsberg Beer, Tuborg Beer, San Miguel Beer, and Gorkha Beer.

Capital Gain Tax reduced.

As per the clause 62 of Economic Act 2068 the capital gain tax on securities transaction has been reduced from 10% to 5%

in case of individual transaction and from 15% to 10% in case of institutional transactions. The said tax rate will be

implemented from 2068 Shrawan 1.