Bonus to Insuree: ALICO

Kathmandu, Jan 7

MetLife Alico has issued notice regarding the distribution of bonus to its insuree.

Bonus Share Certificate Distribution: SANIMA

Kathmandu, Jan 7

Sanima Bank Ltd is distributing 10 percent bonus share certificate as per approved by 9th AGM from 7 Jan, 2014 (23 Poush, 2070) from its corporate office, Nacsal.

Tourism Development Bank Limited is distributing Cash Dividend warrant

Kathmandu, Jan 7

Toursim Development Bank Ltd is distributing 11 percent cash dividend slip from 7 Jan, 2014 (23 Poush, 2070), from NCM Merchant Banking, Kamalpokhari.

ETFC planning 10-15pc hike in electricity rates

KATHMANDU, JAN 07 

The Electricity Tariff Fixation Committee (ETFC) is planning to revise the electricity tariff within the next three months. Power rates are likely to increase 10-15 percent. This is the second price hike in one and a half years. In June 2012, the ETFC had raised the tariff by 20 percent after a gap of 11 years.

“We are giving serious consideration to the proposed tariff hike,” said ETFC Chairman Ganesh Prasad Subba. “A committee has been formed, and we will soon be publishing

Dollar above Rs 100

KATHMANDU: Jan 7

Nepali rupee has fallen to one-month-low of Rs 100 per US dollar once again.

For tomorrow, Nepal Rastra Bank (NRB) has fixed reference exchange rate of Rs 100 per US dollar as selling rate based on today’s Forex trading of the commercial banks. Likewise, buying rate for the US dollar is fixed at Rs 99.40.

US dollar’s exchange rate had last crossed 100-rupee mark on

Petroleum transporters to protest from Jan 11

KATHMANDU, Jan 7

Nepal Petroleum Transport Entrepreneurs Federation (NPTEF) will not transport petroleum products from January 11 unless their demands are addressed by the government and Nepal Oil Corporation (NOC). The NPTEF in its press release issued today has also warned not to obtain product deliver orders beginning January 9 if their demands are not met.

The NPTEF has long been asking the government and NOC to fulfill various demands, including revision in transport fare and insurance coverage conditions. The NPTEF had last reminded the government about these demands on December 18.

According to the NPTEF, both the government and NOC have not responsed to its calls.

The NPTEF has formed an eight-member group under Khageshwor Bohora to launch protest programmes and hold talks with the government and NOC . The protest will last until the federation’s demands are addressed by the concerned parties.

Source: THT

SEBON plans to let IPO at premium price of up to 2.5 times

Kathmandu, Jan 7

The Securities Board of Nepal (SEBON) is mulling over an amendment to the Securities Registration and Issue Regulation-2008 to let the listed companies to issue Initial Public Offering (IPO) at a premium price of up to 2.5 times.

A draft of the proposed amendment being floated by the regulator paves the way for more companies, especially those from the real sector, to enter the stock market, according to the sources privy of the development.

The draft regulation states that a company can issue its IPO at a premium price not exceeding 2.5 percent of the per share net worth as per its latest audit report.

The existing regulation allows a company to issue an IPO within the limit of its existing per share net worth.

“We are planning to amend the regulation to make it more market friendly,” SEBON spokesperson Niraj Giri informed. “This should also encourage companies other than BFIs to enter the share market.”

The government as well as the regulator is under pressure from the stakeholders to bring in more of productive sector or the real sector to increase the size and depth of the market that currently is hugely dominated by BFIs.


Source: Sharesansar

LICN Proposes 30 percent bonus share

Kathmandu, January 7

Life Insurance Corporation Nepal Limited (LICN)  has proposed 30 percent bonus share to its shareholders from the net profit it posed in the last fiscal year of 2069/70.
The decision was taken by the company’s 66th BOD meeting which was held on Monday. 

Amending its previous decision to

SIGS1 pledges 4.5% cash dividend to unit holders

Kathmandu, January 7

Siddhartha Investment Growth Scheme-1 has pledged a cash dividend of 4.5 percent to its unit holders for the first year of the mutual fund scheme.

The 35th BOD meeting of Siddhartha Capital Ltd has just proposed the dividend.

The Latest NAV of the Growth Fund is as below.

Click Picture to enlarge.

Honda's New Offer

Kathmandu, Jan 6


Syakar Trading Company, the sole distributor of Honda motorcycles and scooters in Nepal, has brought a new scheme for its customer on the occasion of the New Year. “As per the scheme, the buyers of any Honda motorcycles or scooter will get a scratch card which will guarantee them cash prizes ranging from Rs 4,000 to Rs 1,00,000,” a company statement said

Sahayogi Vikas Bank distributing Cash and Bonus Share

Kathmandu, Jan 6

Sahayogi Bikas Bank Limited is distributing 8.5% Cash Dividend warrant and 26% Bonus Share Certificate to its shareholders from today (22nd Poush, 2070).

Click Picture to Enlarge

Problems plague stock trading outside Capital

KATHMANDU, JAN 06 

The stock trading from outside the valley barely accounts for 2 percent of the total turnover, with the transaction in those places registered with the Nepal Stock Exchange (Nepse) logging only Rs 663.1 million out of the country’s total of Rs 33.15 billion in the the last three years.

According to Nepse, the secondary market carried out transaction amounting to Rs 10.27 billion in 2011-12 from the locations outside the valley. Similarly, the transaction worth Rs 7.53 billion was carried out in 2012-13, while it was Rs 15.35 billion by the end of December this fiscal.

Nagbeli allotment only next week

Kathmandu, Jan 6

Allotment of the Initial Public Offering (IPO) of 42,900 unit equity shares floated by Nagbeli Laghubitta Bikas Bank Limted, in December will take place only next week, most probably on January 12, according to the issue manager NMB Capital Limited.

With this, the investors, who were hoping to get the refund from Nagbeli to apply for the IPO of Century Commercial Bank Limited to be opened on January 9, will have to make alternative arrangement to apply for the IPO.

Sanima Mai IPO to be listed on January 14 for trading

Kathmandu, Jan 5

The Initial Public Offering (IPO) shares of Sanima Mai Hydropower Limited (SMHL) will be listed on January 14 for trading, according to Nepal Stock Exchange Limited.

Two companies to launch IPTV

KATHMANDU, JAN 05 -

 
Two companies — Orient Digital Media and Subisu Cable Net — are planning to launch Internet Protocol Television ( IPTV ) service for the first time in the country. 

Orient has already received the licence, while Subisu has applied for the permission from the Ministry of Information and Communications.

Insurance Board to rein in agents of non-life insurance firms

Kathmandu, Jan 5

Insurance Board (IB), the regulator of the insurance companies, is gearing up to issue new directives to non-life insurance companies to ensure that their agents and staff do not overcharge or dupe policy buyers.

The new provision that is being discussion with the stakeholders includes downsizing the commission percentage to the agents of non-life insurance companies as the prevalent commission rates have prompted unhealthy practices and irregularities in

NCM Mutual Fund pays last round of returns to unit holders

Kathmandu, Jan 5

NCM Mutual Fund-2059 has begun distributing Rs 8 to its unit holders as the last batch of dividend of its ten year closed end scheme, which has already ended.

With the latest returns, one of the first mutual funds of the country has provided a handsome return of Rs 43 against its scheme with a par value of Rs 10.

Chilime Hydro Power distributing bonus share certificates from today

Kathmandu, Jan 5

Chilime Hydropower Company, one of the blue-chip companies, is distributing bonus share certificates to its shareholders from today.

Chilime had endorsed 10 percent cash and 30 percent bonus shares to the shareholders from the net profit it earned in the last fiscal year 2069/70.

BoK lists its bonus shares

Kathmandu, Jan 5

Bank of Kathmandu Limited has listed 23,58,156 units of bonus shares at Nepal Stock Exchange Limited for trading from today.

With this BoK has become the first commercial bank to list its bonus shares from the last fiscal year 2069/70.

LICN lists its Right share for trading.

Kathmandu, Jan 5

Life Insurance Company Nepal Limited has listed its 10,12,500 units Right Shares in NEPSE for trading.
Of the total 10,12,500 right shares 35.468 shares were sold on auction to due to not being bought by its shareholder.

Banijya Bank to sell cross-holdings to highest bidder

KATHMANDU, JAN 04 -

Rastriya Banijya Bank (RBB) has decided to sell to the highest bidder its 5.84 million promoter shares of Nepal Investment Bank Limited (NIBL) and Nepal Housing Finance Company.

The state-owned bank called for bids for its stock after Nepal Rastra Bank cracked down against it for maintaining cross-holding. The central bank has stopped RBB from obtaining dividends and bonus shares from NIBL for violating its directive.

Global IME Bank AGM today to endorse 15% bonus shares

Kathmandu, Jan 4

Global IME Bank Limited held its seventh Annual General Meeting today.

The AGM being held at Hotel Vishwa in Birjung has endorsed 15 percent bonus shares to its shareholders from the net profit the commercial bank posted in the last fiscal year 2069/70.

The Annual event has also proposed to soar up capital of the bank.

Subhechha Bikash Bank Limited is distributing 6.74% Cash Dividend from today

Kathmandu, Jan 4

Subhechha Bikash Bank Limited is distributing 6.74% Cash Dividend warrant to its shareholders from today (19th Poush, 2070)

Banks not able to mobilize higher loans even after election

Kathmandu, January 3:

Bank and financial institutions, especially the commercial banks, have not been able to mobilize loans significantly even after the November 19 Constituent Assembly election, which has made investors upbeat about political and economic climate of the country.

Though the bankers claim that they have been mobilizing more loan after the election, hard facts does not corroborate this: Post-election, all the 31 commercial banks

Load-shedding 12 hours a day from Sunday

Kathmandu, Jan 3

Nepal Electricity Authority (NEA) has informed that the exisitng 11 hours of load- shedding a week would be increased by an hour to 12 hours a day from January 5.

As per a public notice issued by the state-run power utility yesterday, the country will now witness 80 hours of power outage a week.

Deposits worth Rs six billion stuck at troubled FIs

KATHMANDU, Jan 2: 

Despite more than Rs six billion worth of deposits still stuck at troubled financial institutions, the central bank has yet to take any concrete action to decide on their fate.

The eight crisis-ridden financial institutions — one development bank and seven finance companies — had total deposits worth Rs 6.87 billion as of mid-October. Though it has been seven months since the last finance company was declared problematic, Nepal Rastra Bank has not yet taken any definite step to either revive or close them down.

General Finance was the last to be declared problematic by NRB back in

Siddhartha Bank announces book closure from today

Kathmandu, Jan 2

Siddhartha Bank Limited has announced book closure from today for its 12th Annual General Meeting slated for January 28.


The AGM to be held at Trade Tower at Thapathali in Kathmandu is due to endorse 22 percent dividend, including 12 percent bonus shares pledged by the commercial bank to the shareholders from the net profit the bank posted in the current fiscal year 2069/70.

Siddhartha Bank had reported 49.43 percent growth in profit in

Himalayan Bank finally announces 15% dividend; some respite to shareholders

Kathmandu, Jan 2

Himalayan Bank Limited has proposed 15 percent dividend, including 5 percent bonus shares, to its shareholders from the net profit it earned in the last fiscal year.

A BoD meeting of the commercial bank has just proposed the dividend, which, however, is subject to the approval of Nepal Rastra Bank and the AGM of the bank.
Nevertheless, this has come as a relief to the shareholders.

Though one of the leading commercial banks had posted a net profit of Rs.102.44 crore in the last fiscal year of 2069/70, the returns became doubtful in the wake of the Melamchi drinking water project debacle.

It may be noted here that the Bank of Kathmandu and the shareholders

BPC sells majority shares in Kabeli to Singapore company

Kathmandu, Jan 2

Butwal Power Company Limited has sold 74 percent of its shares in Kabeli Energy Limited to Infraco Limited of Singapore.

BPC has sold its majority shares of Kabeli Energy before the construction of 37.4 Megawatt Kabeli ‘A’ hydropower project. Now BPC’s stake in the company is limited to 26 percent. 

Though the project was scheduled to be completed by 2015, even civil work has not started so far.

Prabhu close to merger with Kist; taking over Kist's mgmt after claiming shares

Kathmandu, Jan 2

Kist Bank Nepal and Prabhu Bikas Bank are now very close to a merger, as ShareSansar has been reporting over the past one month.

After taking over major shares of Kist, with the help of its former chairperson, the Prabhu Group is now planning to take over the management for a smooth merger.

As part of that plan, they have reshuffled the management of Kist. CEO of Sanima Bank Kumar Lamsal has been hired as the CEO of Kist while CEO of Prabhu Bikas Bank

Century Bank to issue IPO worth on Jan 9

Kathmandu, Jan 1

Century Commercial Bank is going to issue its Initial Public Offering (IPO) worth Rs 92 crore on January 9.
The IPO will close on January 13.

Century’s IPO is one of the most expected events in the stock market not just because of its sheer volume but also because it is the last IPO to be issued by any commercial bank of the country.

Nepal Rastra Bank has stopped issuing license to the commercial bank, and, on the contrary, has been directing the commercial banks and other BFIs to seek merger.

Reliance Finance distributing 8 percent cash dividend

Kathmandu, Jan 1

Reliance Finance Ltd. is distributing 8 percent cash dividend from today 1 Jan, 2014 to its share holders

Click Picture to Enlarge

Kabeli Bikas Bank issuing 80 thousand right shares from January 24

Kathmandu, Jan 1

Kabeli Bikas Bank Limited is issuing 80,000 units of ordinary rights shares of face value Rs 100 from January 24 at 11:4 ratio.The rights issue being managed by Elite Capital Limited will remain open till February 23.

It may be noted here that as the development bank has already announced book closure from December 20, only those who held shares of the bank till poush 5 are eligible for the rights shares.

NMB Bank distributing cash dividend warrants from today

Kathmandu, Jan 1

NMB Bank Limited is distributing 10% cash dividend warrants to its shareholders from today. The dividend warrants can be collected from the bank’s RTS NMB Capital at Babarmahal from 10:00 AM to 2:30 PM from Sunday through Thursday and from 10:00 AM to 1:00 PM on Friday.

The Distribution is according to share certificate number. Please see list below for your date.

Matribhumi distributing share allotment slip and refunding money

Kathmandu, Jan 1

Matribhumi Bikas Bank Limited is distributing share allotment slip and refunding money to the non-allottees who had invested in its IPO. On December 27, Matribhumi’s IPO was allotted flatly at 19.33 percent. As the IPO was oversubscribed by five percent, those who applied up to 40 units were placed under the lottery system.

There were 2,047 applicants, mostly from the locals of Sindhuli where the bank is based, according to the issue manager Civil Capital Markets and there were 245 applications from big and institutional investors for 1.54 lakh unit equity shares.

Sanima Mai hydropower distributing primary share certificates from today

Kathmandu, Jan 1

Sanima Mai Hydropower Limited is distributing IPO share certificates from today, two months after the allotment of the primary shares.

The allotment of IPO equity shares of Sanima Mai Hydropower Limited had taken place on November 1.
 
The 21.1 lakh unit of the IPO issue by the hydropower company was oversubscribed by 31 times, according to the issue manager, NIDC.

Govt bond witnesses encouraging subscription

KATHMANDU, Jan 1: 

After a long time, the latest bunch of government securities targeting the general public witnessed encouraging subscription.

“The public subscribed for securities worth Rs 700 million of National Saving Bond 2075 that had offered securities worth Rs 800 million,” informed a high official at Nepal Rastra Bank’s Public Debt Management Department. This is the highest rate of subscription for bonds meant for the public in recent history. 

Of the total bond worth Rs one billion, bonds worth Rs 800 million were meant for the general public, while other institutions can apply for the remaining amount worth Rs 200 million. Issue was

Civil Bank introduces new product to its customers

KATHMANDU, Jan 1: 

Civil Bank has introduced a new product — Mobile Mai Nagad —on the occasion of New Year 2014. This product has a complete range of financial services such as deposit, withdrawal from bank account to mobile account, account to account transfer, and payment of shopping bills and utility bills through the Hello Paisa network. 

Known as a technology driven bank, Civil Bank has also introduced cardless ATM service from which cash can be withdrawn by using a mobile device from any Civil Bank ATM without using an ATM card. This unique feature is only available in Civil Bank. 

The bank has signed an agreement with Hello Paisa for this service.

ICRA gives Grade 3 to AHPC rights shares; to be issued within Magh

Kathmandu, Dec 31

 The much overdue rights shares of Arun Valley Hydropower Development Company Limited (AHPC) will be issued within the month of Magh.

The fourth Annual General Meeting of the hydro power developer held two years back had endorsed rights shares at 1:1 ratio.

Rastriya Beema Sansthan's share trading resumes

ShareSansar, December 31:

Nepal Stock Exchange Limited (NEPSE) has resumed the trading of Rastriya Beema Sansthan (RBS) after the state-run insurance company decided to restart its AGM process.

RBS had declared its 29th AGM on October 10, 2012 to endorse 39, 39 and 15 percent dividends for the previous three fiscal years. But then the AGM was again stalled. 

Battle between NRB‚ banks continues over interest spread

KATHMANDU: 

Although commercial banks are battling against the central bank’s decision to contain interest spread at five per cent, their first quarter financials show the net spread to be way below the regulatory limit. 

Nepal Rastra Bank (NRB) had earlier asked financial institutions to maintain average difference in deposit and lending rates —also known as interest spread—within five per cent from the beginning of the third quarter of the current fiscal year. With the implementation date —mid-January—coming near, banks have started lobbying for revocation of the

Citizens Bank debenture closing today

Kathmandu, Dec 31

The seven-year corporate debenture issued by Citizens Bank International is closing today, according to a notice issued by the commercial bank.

Citizens Bank Debenture 2077, which is worth Rs 50 crore, was issued on December 26 at par value of Rs 1,000, and has yield of 8.5 percent interest rate which will be paid quarterly.

Elite Capital is the issue manager. 

It may be noted that of the total debentures, bonds worth Rs 7.5 crore have been set aside for the general public while Rs 2.5 crore has been earmarked to mutual funds.

Western Development Bank rights issue closes today

Kathmandu, December 31

Four lakh units of rights shares, which Western Development Bank Limited has been issuing at 3:2 ratio from November 10, is closing today.

The issuance of the rights shares of Rs 100 face value is being handled by Growmore Merchant Banker, the RTS of the development bank.

The shareholders can approach the Growmore’s office at Durbarmarg in Kathmandu or any branches of the ‘B’ class development bank based at Ghorahi in Dang, or the branch offices of Siddhartha Development Bank Limited to register their rights shares.

NRB rejects Supreme Development Bank’s dividend proposal.

Kathmandu, December 31:

Nepal Rastra Bank has rejected 8 percent cash dividend proposed by Supreme Development Bank Limited from the net profit it earned in the last fiscal year.

The development bank has just informed NEPSE about the news for general public's notice.

Govt mulling sticker, barcode for beer bottles

KATHMANDU, DEC 31 -

The government is mulling whether to affix a sticker or barcode on beer bottles to keep track of production volume and taxes due. The present method of using flow meters and counting the number of crowns is being replaced in a bid to control possible tax evasion.

The government has been stingy with using expensive stickers on beer bottles since they generate less revenue unlike liquor. The stickers need to be printed at a security press abroad and cost a lot of money. So they are not cost-effective for use on a product like beer, according to the government . Chief of the Revenue Department at the Finance Ministry Rajan Khanal said that studies were being carried out to determine the exact volume of beer