New branch of Sagarmatha Merchant Banking and Finance Ltd

Sagarmatha Merchant Banking and Finance Ltd (SMBFL) started the operation from its fifth branch at Jhapa's Damak, on Wednesday. Earlier the company has opened the branches at Birtamod, Dharan, Biratnager and Itahari. The company conducts different kinds of deposit and lending scheme.

Source: 
tht

Ace Development Bank's Corporate Social Responsibility (CSR) initiative

Ace Development Bank has supported a project organised by Winrock International by providing 10 water pumps. Under Ace's Corporate Social Responsibility (CSR) initiative, it targets uplifting the livelihood of 300 farmers of Sonmati Majaura, Ayodhya Nagar and Chandra Lal Pur of Siraha. The project aims to provide alternate resource to petrol and diesel and teach modern farming methods to generate higher income for local farmers, said the bank. The process of alternative resource to petrol and diesel include collecting Jatropa seeds from waste land of Sonmati Majaura, Ayodhya Nagar and Chandra Lal Pur of Siraha, then recycling to produce fuel which will be an alternative to petrol and diesel.

Source:
tht

Announcements

Book Closure for Interim Cash Dividend: Unilever Nepal Ltd

Unilever Nepal Ltd has issued book closure notice for interim cash dividend from 23 September to 1 October 2010 (2067 Ashwin 7 to 15). 

Upcoming 26th AGM: NABIL

Nabil Bank Ltd has announced its upcoming 26th annual general meeting to be held on 11 October 2010 (2067 Ashwin 25).  

Up coming 1st AGM: Bright Dev Bank

Bright Development Bank Ltd has announced its upcoming 1st annual general meeting to be held on 9 October 2010 (2067 Ashwin 23).

RTS Appoionted: Siddhartha Development Bank Ltd

Siddhartha Development Bank Ltd has appointed Growmore Merchant Banker Ltd as Registrar to Share.

Book Closure For Right Share: Nirdhan Utthan Bank Ltd.

Nirdhan Utthan Bank Ltd. has announced its book closing date for 2:1 right share on 24 Sep 2010 (2067 Ashwin 8).

Announcements

Ordinary Share Allotment: Himalaya Finance

Himalaya Finance Ltd has allotted its ordinary share to 25220 applicants on 15 September 2010 (2067 Bhadra 30) which is based on following model.

4th Quarter Financial Report & Company Analysis (2066/67): Everest Insurance Co. Ltd

Everest Insurance Co. Ltd has published financial reports and company analysis during the fourth quarter of fiscal year 2066/67. 

Press Release: NIDC Capital Markets (NCM)

NIDC Capital Markets has issued press release regarding the ordinary share allotment of Valley Finance Ltd on 15 Sep, 2010 (2067 Bhadra 30). 

Ordinary Share Allotment: Valley Finance

Valley Finance Ltd has allotted its ordinary share to 51407 applicants on 15 September 2010 (2067 Bhadra 30) which is based on following model. More Details 

Treasury Bill Issue: Nepal Rastra Bank (NRB)

Nepal Rastra Bank is issuing 28 days Treasury bill, 91 days Treasury bill, 182 days T-bill and 364 day T-bill on 21 September 2010. The bid quotation are to be submitted by 20 September, 2010 (2067 Ashwin 5). 

Right Share on Auction: Sunrise Bank Ltd (SRBL)

Sunrise Bank Ltd is selling right share in auction. These are the unsubscribed share after right issue.

Nepal Bangladesh Bank's first-aid camp

Nepal Bangladesh Bank (NBB) in collaboration with Alka Hospital organised a first-aid camp in the premises of Pashupatinath temple on the occasion of Teej. The camp provided free first-aid service to more than 1,000 people, said a release from the bank

Source: 
tht

Makers and movers; despite all

Amid the worsening business environment, energy crisis and political uncertainties, the country's manufacturing sector recorded a modest growth the last fiscal year. The Manufacturing Production Index (MPI), released by Central Bureau of Statistics (CBS) shows construction-related products and dairy products are the ones that registered an impressive growth in 2009-10. 

The MPI shows interesting results. As per the MPI, manufacturing of only five products had declined the last fiscal year, with other products maintaining growth. But barring a few products, the growth of others has been modest. As was the case in the third quarter, production of iron rods and galvanized pipes that has the largest weight in the MPI had strong growth of 7.20 percent. Though the demand for iron rods and pipes has declined of late, the growth is due to strong demand in the earlier quarters. Cement and concrete are other two construction materials that saw impressive growth during the period. Production of cement increased by 5.26 percent, while production of concrete went up by 4.25 percent.

Cement industry has been one sector where more investment is coming since the past few years. The rise in cement production over the past few years is now substituting the import of Indian cement. The Nepal Rastra Bank's annual macroeconomic statistics shows import of cement from India declined last year by 3.2 percent. According to Bal Krishna Shrestha, president of Nepal Steel Rolling Mills Association said that the increased demand for iron rods pushed up the overall production. "Had there been political stability and sufficient energy supply, production could have been increased," said Shrestha.

Over the last few years, more steel mills were established in the country. Till now, there are 18 steel mills in the country. The growth in the iron production can be ascertained by the fact that the import of M.S. Billet, a major raw material, increased by 42.72 percent in the last fiscal year. Nepal imported M.S. Billet worth Rs 14.32 billion, an increment of 42.72 percent. Pradeep Kumar Shrestha, managing director of Panchakanya Group says the growth in the production is due to more players coming into the business. Manufacturers say there has been a decline in the demand which may hit production this year.

"Till the third quarter, there was also good demand but it has subsided in the last quarter due to decline in the construction sector," said Shrestha. Dairy products were another major gainer last year. Milk production in the country increased by almost 8 percent last year. The country's dairy sector has made impressive progress last year with Chitwan Co E establishing a powder milk factory in Chitwan and Sujar Dairy of Pokhara exporting powder milk to Pakistan. Liquor industries in the country are having a better run. Among beverage products, the production of rectified alcohol was the star, with its production increasing by almost 10 percent. But, manufacturing of beer, recorded a slower growth¿only 3.19 percent. The growth in production of soft drinks remained below two percent.

Agricultural products like rice, wheat flour and animal feed recorded an increment of 2.33 percent last year. Though production of wheat flour and animal feed rose by 4.47 percent and 9.17 percent, respectively, it was the dismal growth of rice that pulled down the overall index. The production of rice, that commands 7.8 percent weight in MPI, grew by only 1.81 percent. In this group, noodles and chocolate production has increased by 4.12 percent and 3.49 percent. The MPI paints a bleak picture of Nepal's major exportable products. While woollen carpets and tanned hides recorded a nominal growth, the manufacture of readymade garments declined. As per the index, the production of readymade garments witnessed a 1.87 percent decline during the period. With export to third countries and India going down by 80.5 percent and 20.7 percent, respectively last year, decline in garment production was understandable. Production of woollen carpets saw a marginal growth of 0.26 percent while production of tanned hides also registered a growth of 4.42 percent. Among all industrial products, plastic products with a weight of 5.74 percent in the MPI had growth of almost 4.53 percent.

Source:
ekantipur

Nepal Bank Ltd's new branch

Nepal Bank Ltd (NBL) has restarted Chandrauta branch in Kapilvastu district on Sunday. The branch was closed during political conflicts in the country. Bank's management committee coordinator Dr Puspa Raj Rajkarnikar inaugurated the branch at a function on Sunday. With this the number of NBL branches has reached 109. The bank is planning to reinstate 11 more branches as per financial feasibility in the current year.

Source: 
tht

Newspaper Announcements

4th Quarter Financial Report & Company Analysis (2066/67): UIC

United Insurance Co. Ltd has published financial reports and company analysis during the fourth quarter of fiscal year 2066/67.

Right Share Certificate Distribution and Money Return Notice: PSDBL

Pashupati Development Bank Ltd. is distributing right share certificate from 14 September 2010 (2067 Bhadara 29) and returning money for those who have applied higher .

Newspaper Announcements

4th Quarter Financial Report & Company Analysis (2066/67): SICL

Shikhar Insurance Ltd has published financial reports and company analysis during the fourth quarter of fiscal year 2066/67.

Right Share Issue Closing: MFCL

Merchant Finance Company Ltd is closing its right share issue today (12 September 2010) after banking hour.