Insurance Board to come tough on insurance companies; cooling period of 6 month for CEOs to be rolled out; no playing around with loop hole as cooling period for deputy CEO as well

The Insurance Board is all set to bring new amendments to the directives on corporate governance for insurance companies of Nepal after which a cooling period of 6 months will be enforced on CEOs of the insurance companies for him/her to be eligible to join new company after exiting the previous one.

Following pursuits of Nepal Rastra bank which had imposed a maximum serving period of 2 terms (4 years in a single term) for CEOs in all BFIs, the insurance board is also currently under necessary homework to implement similar regulation in the insurance sector in the nation.

Learning from the experience of commercial banks, when few banks including Nabil Bank which exploited the loop hole of NRB’s regulation by appointing the potential CEO first as deputy CEO until the cooling period gets over, the insurance board is reportedly mulling to impose similar cooling period of 6 months even to get appointment as deputy CEO thereby allowing little room for the companies to play around with legal weakness. The new directive is also expected to address the issue regarding qualification and experience of CEO and deputy CEO which the insurance companies should follow before hiring new topmost executive for their companies. 

(Sharesansar,  May 4, 2018)

Soaltee Hotel net profit diminishes by 11.59%; EPS stands at Rs 2.28

Soaltee Hotel Limited(SHL) has published its 3rd quarter report of the FY 2074/75 today. It has reported decrease of 11.59% in the net profit to Rs 15.18 crore down from Rs 17.17 crore of the corresponding quarter of the last FY 2073/74.

Its current paid up capital stands at Rs 66.61 crore and Rs 85.90 crore in the reserve. SHL’s earning per share (EPS) stands at Rs 2.28 per share and Net worth per share stands at Rs 22.90 and P/E ratio at 109.27 times.

SHL’s par value per share is Rs 10. Thus, every investor must be knowledgeable about the par value of this company as other company generally have par value of Rs 100, one must not be confused with this point.

Rairang Hydropower to issue IPO for 8,40,000 unit shares from Baisakh 31, 2075

Rairang Hydropower Development Company (RAIRANG) is going to issue 8,40,000 unit shares at par value of Rs 100. From the total 33,600 units or 4% is separated for the employees of Rairang and 42,000 units or 5% is separated for the Mutual Funds. The remaining 91% is open for general public. The issued IPO is 15% of its total capital.

The applicants should apply for minimum 50 unit shares to maximum 4,200 units. The issue will open from Baisakh 31, 2075 till Jestha 03, 2075. In any contingency, the issue will open till Jestha 29, 2075 at the latest.

NIBL Ace Capital has been appointed as the issue manager for the issue.

Rairang Hydropower Development Company Limited operates 500 KW Rairang Hydroelectric Project in Dhading district. It is developing 9.90MW Iwakhola Hydroelectric Project in the border of Taplejung and Panchthar districts. The company has projected commercial operation of the 9.90 MW project before 2074 Magh end. The authorized capital of the hydropower company is Rs 1 arba. Its paid up capital is currently Rs 42 crore. After IPO for locals and general public, its paid up capital will reach Rs 56 crore. Promoters will own 75% of the company, locals of project-affected area will own 10% and general public will own 15% after the IPO.

स्तरोन्नतीमा लाग्दा सोल्टी होटलको आम्दानी तथा मुनाफा घट्यो

चालु आर्थिक बर्षको तेस्रो त्रैमासमा सोल्टी होटल(SHL) ले आम्दानी तथा खुद नाफा घटेको वित्तीय विवरण सार्वजनिक गरेको छ । होटलले हिमालयन विङ्ग भवनमा रहेका कोठाहरु स्तरोन्नेती तथा भित्री सजावटका लागि बन्द गरेकाले आम्दानीमा गिरावट आएको जनाएको छ ।

होटलले चालु आर्थिक वर्षको तेस्रो त्रैमासिक अवधिमा १५ करोड १७ लाख रुपैयाँ नाफा गरेको जनाएको छ। गत आर्थिक वर्षको यहि अवधिको तुलनामा १ करोड ९९ लाख कम हो । गत वर्षको यहि अवधिमा होटलले १७ करोड १६ लाख रुपैयाँ थियो।

होटलले चैतसम्ममा आफ्नो व्यापार व्यवसाय तथा सेवाको बिक्री मार्फत एक अर्ब १२ करोड रुपैयाँ आम्दानी गरेको छ । जुन गतबर्षको यसै अवधिको तुलनामा ६ करोड कम हो । गत वर्ष होटलले एक अर्ब १८ करोड रुपैयाँ आम्दानी गरेको थियो।

होटलको चुक्ता पूँजी ६६ करोड ६० लाख रुपैयाँ रहेको छ भने जगेडा कोषमा ८५ करोड ९० लाख रुपैयाँ छ । जसको प्रतिशेयर आम्दानी २.२८ रुपैयाँ तथा प्रतिशेयर नेटवर्थ २२.९० रुपैयाँ रहेको छ। जसको प्रति सेयर अंकित मूल्य १० रुपैयाँ हो ।

चिलिमेका दुई सहायक कम्पनीले साढे दुई अर्बको सेयर निष्काशन गर्न धितोपत्र बोर्डमा दिए निवेदन, कसले किन्न पाउँछन् ?

चिलिमेका दुई सहायक कम्पनी साञ्जेन जलविद्युत्त कम्पनी र रसुवागढी हाईड्रोपावर कम्पनीले दुई अर्ब ५१ करोड ८१ लाख चार हजार रुपैयाँ बराबरको साधारण सेयर निष्काशनका लागि धितोपत्र बोर्डमा निवेदन दिएका छन् ।साञ्जेनले रसुवा जिल्लामा सान्जेन ४२.५ मेगावाट, माथिल्लो सान्जेन १४.८ मेगावाट र  रसुवागढी जलविद्युत्त आयोजनाले  १११ मेगावाटको आयोजना निर्माण गरिरहेका छन् ।

साञ्जेन जलविद्युत्त कम्पनीले ८७ करोड ६० लाख रुपैयाँको एकसय रुपैयाँ अंकित दरका ८७ लाख ६० हजार कित्ता प्राथमिक सेयर निष्काशन गर्न निवेदन दिएको हो । अर्को कम्पनी रसुवागढी हाईड्रोपावरले एक अर्ब ६४ करोड २१ लाख चार हजार रुपैयाँको एकसय रुपैयाँ अंकित दरका एक करोड ६४ लाख २१ हजार ४० कित्ता प्राथामिक सेयर (आईपीओ) जारी गर्न अनुमति माग गरेको छ ।

साञ्जेन जलविद्युत्त कम्पनीले साधारण सेयर निष्काशनका लागि नागरिक लगानी कोषलाई सेयर निष्काशन तथा विक्री प्रबन्धकको जिम्मेवारी दिएको छ ।  रसुवागढी हाईड्रोले भने आईपीओ निष्काशनको जिम्मेवारी  सिद्धार्थ क्यापिटल, एनआईबिएल क्यापिटल, ग्लोबलआईएमई क्यापिटल र एनसीएम मर्चेन्ट गरी चारवटालाई संयुक्त रुपमा दिईएको छ ।

दुबै जलविद्युत्त कम्पनीले हाल निष्काशन गर्न लागेका सेयरमा सर्वसाधारणले भने आवेदन गर्न पाउने छैनन् । अहिले निष्काशन गर्न लागेको प्राथमिक सेयरमा नेपाल विद्युत्त प्राधिकरण, आयोजनामा ऋण लगानी गर्ने कम्पनीहरु, नागरिक लगानी कोष, कर्मचारी सञ्चयकोषका कर्मचारीहरु तथा सदस्यहरुले मात्र  आवेदन गर्न पाउनेछन् ।

 चिलिमे हाइड्रोपावर लिमिटेड नेपाल विद्युत प्राधिकरणको मुख्य लगानी रहेको आयोजना सन् २०१९ मा सम्पन्न गर्ने लक्ष्य छ ।  

May 03, 2018merolagani 

प्रभु लाइफ इन्स्योरेन्सले ६० करोडको आईपिओ बिक्री गर्ने प्रस्ताव

प्रभु लाइफ इन्स्योरेन्सले आईपिओ निष्कासनको प्रस्ताव राखेर आगामी जेठ १० गते प्रथम साधारणसभा बोलाएको छ । कम्पनीले ६० करोड  रुपैयाँ बराबरको ६० लाख कित्ता आईपिओ निष्कासन गर्ने प्रस्ताव साधारण सभाबाट पारित गर्ने भएको छ ।

२ अर्ब रुपैयाँ जारी पूँजी रहेको प्रभु लाइफमा संस्थापक शेयरधनीले १ अर्ब ४० करोड रुपैयाँ लगानी गरेका छन् । कम्पनीमा प्रभु समूह, प्रभु बैंक,सांग्रिला विकास बैंक र मुलुकका अन्य प्रतिष्ठित व्यवसायिक समूहको लगानी रहेको छ ।

कम्पनीले ६०  करोड रुपैयाँ आईपिओ बिक्री गरेर बीमा समितिले तोके बमोजिमको दुई अर्ब चुक्ता पूँजी कायम गर्नेछ । सभाले नयाँ सञ्चालक समितिको चयन गर्नेछ ।

कम्पनीले गत मंसिर २८ गतेदेखि जीवन बीमा कारोबार सुरु गरेको थियो ।

प्रदेश कार्यालय धनगढीमा

साथै कम्पनीले बैशाख २० गते विहिवारदेखि आफ्नो प्रदेश कार्यालय धनगढीको शुभारम्भ गरी कारोबार सुरु गरेको छ । प्रदेश नं. ७ का मुख्य मन्त्री त्रिलोचन भट्टले विहिवार सेवा शुभारम्भ गरे ।

सो अवसरमा कम्पनीका अध्यक्ष रामबहादुर पाण्डेले जीवन बीमालाई गाउँसम्म पुर्याउने उदेश्य सहित कम्पनी स्थापना भएको बताउँदै बीमा बजारमा प्रभु लाइफ इन्स्योरेन्सले नयाँ आयाम थप्ने दाबी गरे ।

कम्पनीका निमित्त प्रमुख कार्यकारी अधिकृत किशोर प्रसाद लामिछानेले कम्पनीका हाल बिभिन्न १९ शाखा कार्यालयहरुबाट जीवन बीमा सेवाहरु उपलब्ध रहेको र छिटो भन्दा छिटो कम्पनीले देशका सबै जिल्लाहरुमा आफ्नो संजाल बिस्तार गर्ने योजना रहेको जानकारी गराए ।

May 03, 2018merolagani 

वित्तीय प्रणालीमा आघात पुर्याउनेलाई कारबाही नगर्ने निकायलाई पनि कारबाही हुन्छ : अर्थमन्त्री

अर्थमन्त्री डा. युवराज खतिवडाले वित्तीय प्रणालीलाई आघात पुर्याउनेलाई कारबाहीको दायरामा ल्याउन राष्ट्र बैंकलाई निर्देशन दिएका छन् । राष्ट्रिय वाणिज्य बैंक र एनआईडीसी डेभलपमेन्ट बैंकको एकीकृत बैंकिङ कारोबारको शुभारम्भ गर्दै अर्थमन्त्री खतिवडाले गलत काम गर्नेलाई कारबाही नगर्ने निकायलाई नै कारबाही गरिने चेतावनी समेत दिए ।

राष्ट्र बैंक तर्फ इगिंत गर्दे अर्थमन्त्री खतिवडाले वित्तीय प्रणालीमा चक्रिय संकट आइरहन्छन् त्यसबाट मुक्त रहन तयार रहन निर्देशन दिँदै वित्तीय स्थायित्व आयो भन्दैमा खुकुलो भएर बस्न नहुने बताए ।

स्थलगत निरिक्षणका कामहरु अगाडि बढाउन, राम्रो गर्नेलाई प्रोत्साहन र नराम्रो गर्नेलाई कानुनी कारबाहीको दायरामा ल्याउन राष्ट्र बैंकको ध्यानकर्षण समेत गराए ।

'फाइलहरु रोक्काउने, गायब गर्ने र कारबाही नगर्नेहरुलाई सम्बन्धीत निकायले काराबाही गर्छन् । मैले पनि त्यो काम गरिन भने मलाई पनि कारबाही गर्ने निकाय छन् । राष्ट्र बैंकलाई पनि त्यो निकाय हुन्छ, बैंकहरुलाई नि हुन्छ, सरकारी बैंकहरुलाई पनि त्यो निकाय छ, यो कुरा हामीले कान खोलेर सुन्नपर्छ ।' अर्थमन्त्री खतिवडाले भने ।

'दण्डहिनता, वित्तीय प्रणालीमा हुने अपराध असह्य छ । जस्तो सुकै जो सुकैले पनि वित्तीय प्रणालीमा आघात पुर्याउने काम गर्छ भने कानुनी दायरामा ल्याउनुपर्छ, ल्याउन नसक्नेले त्यसको जिम्मेवारी बहन गर्न तयार रहनुपर्छ । म स्पष्ट भन्न चाहान्छु । म अलि सोझो,स्पष्ट र पारदर्शी व्यवहार गर्न चाहान्छु, अरुबाट त्यस्तै अपेक्षा गर्दछु ।' अर्थमन्त्री खतिवडाले भने ।

May 02, 2018Merolagani 

कुन बार जन्मेको मान्छे कति धनि र कस्तो हुन्छ जानी राखौ .. बिशेषत महिला !!

• NTERVIEW

कुन बार जन्मेको मान्छे कति धनि र कस्तो हुन्छ जानी राखौ .. बिशेषत महिला !!

आइतबारको दिन सूर्यको हो भने सोमवारको मुख्य ग्रह चन्द्र हो । मंगलवार मंगलको प्रभाव हुन्छ भने बुधवार बुधको । विहीबार वृहस्पति र शुक्रवार शुक्रको प्रभाव सबै भन्दा बढी हुन्छ । शनिवारको कारक ग्रह शनि मानिन्छ ।

ज्योतिषका अनुसार जुन बार जन्मियो त्यो बारको ग्रहको प्रभाव जीवनका सबै पाटामा पर्छ । मान्छेको स्वभाव र भाग्य समेत जन्मबारले निर्धारण गर्ने ज्योतिष शास्त्रीको दावी छ । कस्तो हुन्छ कुन बार जन्मिनको मान्छेको स्वभाव र भाग्य थाहा पाउनुस् ।

आइतबारः

पुरुष
आइतबार जन्मिने मानिस भाग्यशाली हुन्छन् । उनीहरुको आयु पनि लामो हुन्छ । यस्ता ब्यक्ति कम बोल्ने र कला र शिक्षामा अगाडी हुन्छन् । यो बार जन्मिने ब्यक्तिमा धार्मिक आस्था पनि हुन्छ र घर परिवारका सदस्यलाई खुसी राख्न अधिक प्रयास गर्छन् । तर यिनीहरुलाई २० देखि २२ वर्ष सम्म दुःख हुन्छ ।

स्त्री
आइतबार जन्मिने स्त्री दान-पुण्य गर्ने र बलशाली एवं चतुर हुन्छन् ।

सोमबारः

पुरुष
सोमबार जन्मिने ब्यक्तिको बोली मिठो हुन्छ । यस्ता ब्यक्तिको जीवनमा सुख दुख बराबर जस्तै हुन्छ किन भने उनीहरुलाई दुःख सुख उस्तै उस्तै लाग्छ । सोमबार जन्मिने ब्यकेति विद्वान, कला कुशल र बहादुर पनि हुन्छन् । सोमबार जन्मिने ब्यक्तिलाई श्वास प्रश्वासको रोग हुन सक्छ यस्ता ब्यक्तिलाई ९, १२, २७ वर्षमा कष्ट हुन्छ ।

स्त्री 
सोमबार जन्म भएका महिला सुन्दर हुन्छन् । यस्ता महिलामा मिठो बोली र शान्ति प्रिय र पुत्रवति हुन्छन् ।

मंगलबारः 
पुरुष
मंगलबार जन्म हुने ब्यक्ति सामान्यतया धनी हुन्छन् । यस्ता ब्यक्तिको स्वभाव उग्र हुन्छ । यसै कारण उनीहरुसँग मानिसहरु वेखुसी हुन्छन् । यिनीहरुलाई छाला सम्बन्धी रोग हुन सक्छ । दुख र सुख आउने जाने भैरहन्छ ।

स्त्री
ज्योतिषका अनुसार मंगलवार जन्म भएका स्त्री कठोर हृदयका हुन्छन् यस्ता स्त्रीमा दया माया कम हुन्छ । यस्ता स्त्री दुब्ला पातला र झगडालु समेत हुन्छन् ।

बुधबारः

पुरुष

बुधबार जन्मिने ब्यक्ति धर्मकर्ममा मन भएका हुन्छन् । यिनीहरुको बोलीमा मिठास हुन्छन् । यिनीहरुको ८ र २२ वर्षको उमेरमा कष्ट पाउने योग हुन्छ ।

स्त्री

बुधाबार जन्मिने स्त्री कुनै विशेष क्षेत्रमा रुचि राख्ने र विशेषज्ञता हासिल गर्ने हुन्छतन् । सरस्वतीको विशेष कृपा हुने हुँदा यिनीहरु सुन्दर र शुसील पनि हुन्छन् ।

विहीबारः

पुरुष विहीबार जन्मिने पुरुष विद्वान र पराक्रमी हुन्छन् । यिनीहरुले जीवनमा धेरै उतार चढाव र समस्या झेल्नु पर्ने हुन्छ । तर पनि साहसी हुन्छन् । यिनीहरुसँग संगत हुनेहरु खुसी हुन्छन् । विहीबार जन्मिनेहरुलाई ७, १२, १३, १६ र ३० वर्षमा संकट पर्छ ।

स्त्री 
जुन स्त्रीको विहीबार जन्म हुन्छ त्यस्ता महिला उच्च शिक्षा हासिल गर्ने र सर्वगुणी हुन्छन् ।

शुक्रबारः

पुरुष 
शुक्रबार जन्मिने ब्यक्ति हँसिलो स्वभावका हुन्छन् । बुद्दीमान र मृदुभाषी यिनीहरुको स्वभाव हो । यिनीहरु सहनशिल पनि हुन्छन् । यिनीहरु शौखिन हुन्छन् र २० र २४ वर्षको उमेरमा कष्ट हुन्छ ।

स्त्री

कुनै पनि स्त्री शुक्रबार जन्मेकी छे भने उसको श्वभाव चंचल हुन्छ । यस्ता स्त्री मस्ती मजाक गर्छन् । परिवार र समाजमा विशेष इज्जत हुन्छ । केही काला रंगका भएपनि सुन्दर हुन्छन् ।

शनिबारः

पुरुष

जुन ब्यक्तिको जन्म शनिबार हुन्छ उनीहरु कृषि ब्यावार वा प्रविधीको क्षेत्रमा रुची राख्छन् । यिनीहरुका लागि बाल्यकाल कष्टपूर्ण हुन सक्छ । भाइ बहिनी वा दाइ दिदीबठ्ठ सन्तुष्टी मिल्दैन । यिनीहरुलाई २० र २५ वा ४५ वर्षमा कष्ट हुन्छ ।

स्त्री

शनिबार जन्मिने स्त्री दुबली पातली हुन्छन् तर अग्ला । सामान्यतया यस्ता स्त्री कालो वर्णका हुन्छन । यस्ता महिला अरुका कुरा काट्ने पनि हुन् सक्छन् ।

बाणिज्य बैंकले सरकारलाई बुझाए झण्डै १५ अर्ब रुपैयाँ आयकर (सूचीसहित)

-तीर्थराज पाैड्याल
बाणिज्य बैंकहरुले चालू आर्थिक बर्षको ९ महिना अवधिमा सरकारलाई झण्डै १५ अर्ब रुपैयाँ आयकर तिरेका छन् । सञ्चालनमा रहेका २८ वटा बाणिज्य बैंकहरुले गरेको नाफाबाट आयकर वापत १४ अर्ब ८७ करोड रुपैयाँ सरकारलाई बुझाएका हुन् ।

यो अायकर रकम बाणिज्य बैंकहरुले आर्थिक बर्ष २०७२/७३ को ९ महिना अवधिमा तिरेको भन्दा दुई अर्ब १४ करोड अर्थात १६.८१ प्रतिशतले बढि हो । गत बर्ष बैंकहरुले १२ अर्ब ७३ करोड रुपैयाँ आयकर वापत सरकारलाई बुझाएका थिए ।

सबैभन्दा धेरै कर तिर्ने बैंकको सूचीमा राष्ट्रिय बाणिज्य बैंक एक नम्बरमा रहेको छ । बैंकले ९ महिना अवधिमा एक अर्ब २१ करोड रुपैयाँ आयकर बुझाएको छ । दोश्रो नम्बरमा नबिल बैंकले एक अर्ब १६ करोड तथा तेश्रो नम्बरमा रहेको नेपाल बैंकले एक अर्ब १० करोड रुपैयाँ आयकर बुझाएको छ ।

गत बर्ष नबिल बैंकले सबैभन्दा बढी एक अर्ब १३ करोड र सबैभन्दा कम एनसीसी बैंकले ४ करोड रुपैयाँ आयकर तिरेका थिए ।

तीन बैंकले एक अर्ब बढी कर तिरेका छन् भने ५० करोडभन्दा बढी कर तिर्ने बैंकको संख्या ११ रहेको छ । बाँकी रहेका १४ बैंकमध्ये ८ वटाले ३० करोड बढी र ६ बैंकले ३० करोडभन्दा थोरै कर बुझाएको देखिन्छ । गत बर्षको तुलनामा एनसीसी बैंकले ४२८ प्रतिशत धेरै अायकर सरकारलाई बुझाएको छ भने प्रतिशतको आधारमा सरकारलाई बुझाउने आयकर गत बर्षभन्दा ४२ प्रतिशत कम प्रभु बैंकले तिरेकाे देखिन्छ ।

सबैभन्दा कम कर तिर्ने बैंकहरुको पहिलो नम्बरमा भने सिभिल बैंक परेको छ । सिभिल बैंकले १५ करोड रुपैयाँ सरकारलाई कर बुझाएको हो । एनसीसी र मेगाा बैंकले पनि २० करोडभन्दा थोरै कर तिर्ने बैंकहरुको सूचीमा समेटिएका छन् ।

बैंक तथा वित्तीय संस्थाहरुले आयकर वापत ३० प्रतिशत, १० प्रतिशत घर बहाल कर, ५ प्रतिशत ब्याजकर तिर्ने गरेका छन् । ठुला करदाता कार्यालयमा गत आर्थिक बर्ष २०७३ ७४ मा बाणिज्य बैंकहरुले २६ अर्ब ७८ करोड २६ लाख रुपैयाँ १० कर तिरेका थिए । गत  अार्थिक बर्षमा धेरै कर तिर्ने २० कम्पनीभित्र १० वटा  त बाणिज्य बैंक नै रहेका थिए ।

यस आधारमा सरकारको राजश्व संकलनमा वाणिज्य बैंकहरूको योगदान ठूलो रहेको देखिन्छ ।

May 02, 2018Merolagani 

Nagbeli Laghubitta Bikas Bank Limited has extended its ongoing 50% right shares till Magh 10

Nagbeli Laghubitta Bikas Bank Limited (NBBL) has extended the closing date for its ongoing 2:1 (50%) right shares to its existing shareholders till Magh 10, 2073 (January 23, 2017). Earlier, the closing date was set for today (Poush 24).

Nagbeli Laghubitta has been issuing a total of 1,25,000 unit right shares at the face value of Rs 100.

The book closure date for 50% right issue was set for Mangsir 6, 2073. Only the shares registered one trading day ahead of the book closure date i.e. Mangsir 5, 2073 were eligible for the right shares.

NMB Capital Markets Limited has been assigned as the issue manager for right share issue.

Interested shareholders can collect the application forms from NMB Capital Market Limited, Nagpokhari Kathmandu. Also the application forms are available at NMB Bank and its branches andfrom Nagbeli Laghubitta Bikas Bank and its branch offices.

Recently, Nagbeli Laghubitta has proposed 60 percent bonus share and 20 percent cash dividend to its shareholders from the net profit it earned in the last fiscal year 2072/73.

NBBL has earned net profit of Rs 87.59 lakh in the first quarter of the fiscal year 2073/74 as per unaudited report. Its paid up capital stands at Rs 2.50 crore and after the issuance of 50% right share and 60% bonus share, its paid up capital will rise to Rs 6 crore. Sharesansar.

Stock market increases by 5.62 points; turnover above Rs 46 crore

Nepal Stock Exchange Limited (NEPSE) Index has increased with 5.62 points or 0.40% to close trading at 1413.15.

Today, Nepse Index opened at 1407.60 points and after that it was seen in upward trend in the first hour of trading up to 1422.59 points. Later, market was seen in down ward trend.

660, 747 units of Siddhartha Equity Oriented Scheme (SEOS) and 205,100 unit shares of NIBL Sambriddhi Fund 1were traded the most today.

The total turnover of the day stood above Rs 46.12 crore where more than 13.83 lakh units shares were traded through 4,047 transactions.

Sensitive and float index went up by 1.21 and 0.55 points respectively.

All sectors have landed in green after the market closed today. Sub-indices of hydropower sector and insurance sector have increased by 30.71 points and 29.71 points respectively.

Sagarmatha Finance issuing 80% (29.54 lakh units) right shares from today; closes on Magh 17

agarmatha Finance Limited (SAFL) is issuing 10:8 (80%) right shares to its existing shareholders from today (Poush 11, 2073).

The right issue will close on Magh 17, 2073.

Sagarmatha Finance is issuing a total of 29, 54, 389 unit right shares at the face value of Rs 100.

The book closure date for 80% right issue was set for Mangsir 24, 2073 for one day. Only the shares registered one day ahead of the book closure date i.e. today (Mangsir 23, 2073) are eligible for the right shares.

NIBL Capital Markets Limited has been assigned as the issue manager for the right issue.

Interested shareholders can collect the application forms from NIBL Capital, Lazimpat, Kathmandu and from all branch offices of Sagarmatha Finance.

After the adjustment of the rights shares, the finance company’s total paid-up capital will reach to Rs 66.47 crore from existing Rs 36.92 crore. The bank has authorized capital of Rs 1 arba. Its public-promoter share structure stands at 52.55:47.45 ratio.

SAFL has earned net profit of Rs 3.27 crore in the first quarter of the fiscal year 2073/74 as per its
unaudited report. From Sharesansar

Last day to apply 50% & 120% right shares of Janata bank & NMB Microfinance respectively

Existing shareholders have one more day left to file for 2;1 (50%) ratio right shares of Janata Bank Nepal Limited (JNBL). The commercial bank has been issuing right shares from Mangsir 1, 2073 and today is the closing day for the same.

Janata Bank has been issuing a total of 10,300,000 unit right shares at the face value of Rs 100.

The book closure date for 50% right was set for Kartik 11, 2073. Only the shares registered one day ahead of the book closure date i.e. Kartik 10, 2073 were eligible for the right shares.

NCM Merchant Banking Limited is the issue manager for the right issue.

Interested shareholders can collect the application forms from NCM Merchant Banking Limited, Kamalpokhari, Kathmandu and from all branch offices of Janata Bank Limited.

Its paid up capital remains at Rs 2.06 arba. After the adjustment of 50 percent right share, its paid up capital will reach to Rs 3.09 arba from current Rs 2.06 arba. The bank has authorized capital of Rs 10 arba. Its public-promoter share structure stands at 51:49 ratio.

JBNL has earned net profit of Rs 6.39 crore in the first quarter of the fiscal year 2073/74.

Trading of Janata Bank has been halted in Nepal Stock Exchange Limited following its merger process with Triveni Bikas Bank Limited.

Likewise, today is the last day to apply 1:1.2 (120%) right shares of NMB Microfinance Bittiya Sanstha Limited (NMBMF) The commercial bank has been issuing right shares from Mangsir 6, 2073 and today is the closing day for the same.

The deadline was extended due to the public holiday of Christmas.

NMB Microfinance has been issuing a total of 5, 52, 000 unit right shares at the face value of Rs 100.

The book closure date for 120% right issue was set from Kartik 18, 2073 to till Mangsir 18, 2073 for a month. Only the shares registered one trading day ahead of the book closure dates i.e. Kartik 11, 2073 were eligible for the right shares.

Laxmi Capital Market Limited has been assigned as the issue manager for the right share issue of NMB Microfinance.

Interested shareholders can collect the application forms from Laxmi Capital Market Limited, New Baneshwor, Kathmandu and from NMB Capital Limited, Naagpokhari, Kathmandu. Also the application forms are available at Laxmi Bank Limited, Biratnagar, Nepalgunj, Dhangadi branch and at Hemja, Kaski, Udayapur, Taplejung, Salleri and Solukhumbu branch of NMB Microfinance.

NMBMF had proposed 25 percent bonus share to its shareholders. The decision is subjected to approval from its upcoming 4th AGM which is going to be held on Mangsir 18, 2073.

NMBMF has earned net profit of Rs 2.98 crore in the fourth quarter of the fiscal year 2072/73 as per unaudited report. Its paid up capital stands at Rs 7.41 crore and after the issuance of 120 percent right share, its paid up capital will rise to Rs 16.30 crore.

ICRA Nepal has assigned an “[ICRANP] IPO Grade 4”, indicating below-average fundamentals to the proposed rights issue.

Its Last Traded Price stood at Rs 1,490 as December 22, 2016.From Sharesansar

A Turkish Airlines plane has crashed after overshooting the runway as it took off for a flight at an airport in Nepal.

A Turkish Airlines plane has crashed after overshooting the runway as it took off for a flight at an airport in Nepal.  The Airbus A330s front landing gear collapsed and the plane nose-dived on the runway at Tribhuvan International Airport in Kathmandu.  No passengers on the flight, THY726, were seriously hurt in the incident but some were given medical attention after evacuation.  Airport officials said the plane with 238 people on board was coming from Istanbul on Wednesday when the accident happened.  Images of the aircraft circulating on social networking site Twitter showed the plane lying on a grassy ground near the fire station with its nose on the ground.  Bad weather conditions and low visibility have been blamed for the disaster.  The aircraft was put on a long hold and had also aborted earlier approach for landing for a go-around.  The runway at TIA has been closed after the incident.

Just where is CDS and Clearing Limited stuck?

Nearly a decade and a half have elapsed since the CDSC was inaugurated on March 31, 2011. Since then it has consistently drawn sharp criticisms for failing to function in a full-fledged manner.

The effort to bring CDSC to full operation has been plagued with fits and starts right from the beginning.

First, it was capital gains tax issue. There were differences among stakeholders on how to charge fee for every transaction in CDS system and incorporate it in capital gains. Even before the issue was resolved, brokers were already reluctant to work as Depository Participant and Clearing members—entities that work as interface between CDSC and investors--were because of the net worth requirement issue. In addition, the investors were complaining about high fees. Both of the issues were resolved.

That cleared the way for the CDSC to go ahead and create a system that would enable online trading. After putting in place the necessary systems, CDSC tested it with its staff and then invited a few brokers to check the system, during which everyone was convinced that the system was working perfectly.

After that, it was tested full-fledged with the involvement of all the brokers. Only after the mock trading and settlement was successful, NEPSE and CDSC took the next step of going live with Demat trading, clearing & settlement of banking stocks.

Even though investors were happy seeing how everything worked seamlessly and Nepal Rastra Bank, after studying how demat system works and how demat shares can be pledged, allowed banks to provide loan against demat shares, SEBON and CDSC seem to be in no hurry to speed up the full implementation of the online trading.

It was believed that online trading, facilitated by CDSC, would free the traders and individual investors from the hassles and risks associated with physical shares and give similar boost to the capital market as was witnessed after Nepse was computerized.

Many investors are now aware that being able to track share prices is not enough and that they should also be able to trade in their shares swiftly and safely. But the delay in bringing CDSC to full-fledged operation has hindered a full-blown online trading in shares. 

As per CDSC’s website, of around 230 listed companies only 79 have registered themselves for the dematerialization process and 55 are said to be in pipeline. Therefore, with most shares still in physical form, at present, buyers and sellers have to wait for weeks and months for ownership transfer of shares. The manual verification and transfer of shares is not only cumbersome but also poses risks of loss and damage to the documents during the process.

“In order to expedite the dematerialization process, the CDSC has already made it mandatory for all commercial banks and other registered companies’ shares to be converted to electronic form in case of individual requests for ownership transfer,” said Sabina Pujari, head of Business Development and Operations at CSDC. “We have also been urging other listed companies, through written correspondence and follow up calls, to get themselves registered for the dematerialization process.”

“Those who have traded through dematerialized shares have expressed appreciation for the swifter ownership transfer, a process that can take months in case of physical shares,” Pujari added.

Despite clear benefits of dealing in shares in electronic form, SEBON and CSDC have been a little too slow in pushing for dematerialization of all listed shares.   
 

Why is there no hurry?

Stock Brokers’ Association General Secretary Nitesh Agrawal said brokers are desperately waiting for the CDS system to work full fledged. “For brokers, delays or loss or misplacement of shares leads to revenue loss in the immediate term and loss of faith among investors who deal with us in the long run,” said Agrawal, who is also the managing director of ABC securities. “The system would be equally beneficial for common investors who would not have to worry about loads of paperwork while buying and selling shares.”

Agrawal attributed the delay in fully implementing CSDC to the lack of enthusiasm among common investors about electronic shares. “For those who are used to holding shares in hands and keeping them at home, the sudden realization that the certificates would be stored at some distant location in electronic form is hard to accept,” Agrawal said.

But the sooner CDSC comes into full operation the faster all investors will get accustomed to the new system. “One way CDSC can win the trust of investors is by making the whole system more user-friendly. At present, there is no way for the investors to find out the details about their shares online,” Agrawal added. 

But there are enough indications of CDSC developing cold feet before taking the leap into a fully operational system. But Agrawal tried to reassure the CDSC of brokers’ support in case it faced problems. “Although brokers are aware of the high stakes involved, they have time and again urged CDSC to go full-fledged with assurances that they would stand together in the face of any difficulty,” Agrawal said.

Meanwhile, SEBON, the regulatory body, had formed a committee a few months ago to study the functioning of the Central Depository and Clearing System, following which the regulatory body asked some clarification from CDSC on the capacity of its systems prior to starting full-fledged demat clearing and settlement.

Niraj Giri, the spokes person of SEBON, said that the last he had heard from CDSC was that they were still working on strengthening the system. “CDSC is the ultimate implanting authority of the dmat system and SEBON will not stop it from becoming fully operational. We are willing to provide CDSC with all kinds of support it needs to become fully operational.”

Meanwhile, if we are to believe a former IT official with Nepse who was part of the team that installed the CSDC system, there is no reason to fear. “I am confident that the system is able to cope with much higher volume without any hassles,” said Harish Pokharel, Former Senior IT officer, Nepse. “The hardware used are robust and can cope with surge of volume. If a pattern of increased load is observed in server than it can be easily load balanced with the introduction of new servers.”

He further said, “In my opinion, CDS and clearing system can be run in full fledged without any worries. Any unforeseen obstacle seen can be handled during that time.”

According to him, the system is hassle-free and is sure to benefit the concern stakeholders. Business will rise for brokers. The shares will be even more liquid for investors, which in turn will bring huge influx of capital flow in the country economy.

“Transiting to new system has challenges and what we need is gut. In Nepal, it's in our nature that we are reluctant to face that challenge. The problem is that nobody wants to be responsible if something goes wrong. Things go wrong but they can be rectified,” said Mr Pokharel.

Experiences show that stakeholders are reluctant to embrace change and those in the decision-making positions wary of taking responsibilities. Commercial banks, whose shares are now traded only in demat form, adopted it only after Nepal Stock Exchange issued a circular warning them of suspending their trading.

Krishna Pokhrel, a senior Nepse official, said that the NEPSE had issued a circular for the commercial banks to adopt dmat process in good faith, which got a positive response. “We can urge other sectors to do it as well, but then CDSC itself has to be fully prepared. They have two committees to advise them on whether the system is ready for a full-fledged operation. We are waiting to hear from the committees,” said Pokharel.

Mr Giri of SEBON said, “If we look at it as an outsider, we don’t see any reason for the delay. Gradually, everybody should push for the full implementation of the system. We all know that the capital market’s further growth and expansion depends greatly on the CDSC going online as soon as possible.”   
 
Selling and buying shares through an online system is easy, swift, convenient, and free from risks associated with physical shares. At a time when a huge number of shares are yet to be converted to electronic form, online trading is still a distant reality. A fully operational online share trading system will also offer a great relief for common investors residing outside the Valley as well as those living abroad.