Wednesday, October 6, 2010
Tinau: Money return
Tinau Bikas Bank starts to return money to it’s alloted and non alloted applicants
Book Closure of Reliable Finance Limited
The BOD meeting of the company dated 2067/06/17 has decided its book closure date as 2067/07/08 for issuance of 1:1 right share
Book Closure of ICFC Bittiya Sanstha Ltd.
The company has decided its book closure date from 2067/06/24 to 2067/07/14 for its 7th AGM which is going to be held on 2067/07/14.
Cash Dividend of Global Bank Limited
The BOD meeting of the company dated 2067/06/15 has decided to give 5% cash dividend subject to approval from NRB and its upcoming AGM.
BoK holds AGM
The 16th AGM of Bank of Kathmandu (BoK) on Sunday approved 15 per cent bonus shares and 15 per cent cash dividend to its shareholders. While highlighting the Bank’s overall progress in the fiscal year 2009-10, chairman of the Bank, Narendra Kumar Basnyat said that the bank has managed to earn a net profit of around Rs 510 million in the fiscal year, which is an increment of 10 per cent compared to a fiscal ago. The total deposits at the end of the last fiscal year stood at Rs 20 billion, an increment of 12 per cent compared with a fiscal year ago. Similarly, loans and advances increased by 14 per cent at the end of 2009-10 with total lending of Rs 17 billion. During the period the Bank also added nine new branches which takes the total number of its branches to 37. The bank also runs six service counters and a network of 41 ATM counters across the country.
Everest Bank Limited: Cash dividend & bouns share certificate
Everest Bank Limited is distributing cash dividend and bonus share certificate
Reliable Finance: Book closure
The book close of Reliable Finance to issue 1:1 right share is on following date.
2067/07/08
2067/07/08
ICFC Finance Limited: 7th AGM
The AGM of ICFC Finance Limited will be held on following date and time.
Date: 2067 Kartik 14 (As of 31 Oct. 2010)
Time: 11:00 Am
Date: 2067 Kartik 14 (As of 31 Oct. 2010)
Time: 11:00 Am
Bank of Kathmandu: Cash distribution notice
The AGM held yesterday, Bank of Kathmandu decided to distribute 15% cash dividend
United Finance Limited:16th AGM and book closure
105th BOD meeting of the company decided to do AGM on following date,time and place.
Date: 2067 kartik 10 (As of 27 Oct 2010)
Time: 4:00 pm
Place: Nepal Tourism Board building, Pradasni Marga, Kathmandu
Book close: 25 Ashwin 2067
Date: 2067 kartik 10 (As of 27 Oct 2010)
Time: 4:00 pm
Place: Nepal Tourism Board building, Pradasni Marga, Kathmandu
Book close: 25 Ashwin 2067
Govt approves CDS Regulations
The Ministry of Finance (MoF) has approved the Central Depository System (CDS) Regulations that aims to modernize the trading of securities in the secondary market.
The Ministry Sunday informed Securities Board of Nepal (SEBON) – the capital market regulator — about the approval of the regulations.
“The Ministry of Finance Sunday informed us that the CDS Regulations has been approved. We will inform later on from when the regulations will come into effect,” Shurbir Poudel, the chairman of SEBON, told Republica.
By approving the CDS Regulations, the government has paved the way for starting CDS Company as per the Securities Act, 2006. Nepal Stock Exchange (Nepse) will have 51 percent in the to-be-formed company, while some banks and financial institutions will hold the remaining stake.
“We have already completed necessary preparations to set up the CDS Company. We will start the process of registering the company once we are formally informed about the approval of the regulations,” said Shankar Man Singh, the general manager of Nepse. He further informed that almost 75 percent work of the works related to developing CDS software has been completed so far. “We are hopeful that we will be able to commence start CDS System within four months,” he added.
The Indian government has expressed commitment to provide about Rs 150 million to set up CDS — the online based trading system — that enables trading of stock without any paper work. The proposed CDS Company will have a paid-up capital of Rs 300 million.
Nepse officials said CDS would make ownership transfer of securities fast and reliable and maintain data base of investors in a more scientific way with computer based trading.
Once CDS comes into effect, investors can transfer ownership of stocks in just a few seconds.
As per the newly approved regulations, CDS Company can open branches in different parts of the country and can set up transaction settlement fund with the seed money of Rs 10 million. It will collect Rs 3 per transaction from the investors.
According to the regulations, investors can deposit government bonds and bank deposit certificates in CDS Company for trading, transaction settlement and transfer of ownership.
(news source:myrepublica.com)
The Ministry Sunday informed Securities Board of Nepal (SEBON) – the capital market regulator — about the approval of the regulations.
“The Ministry of Finance Sunday informed us that the CDS Regulations has been approved. We will inform later on from when the regulations will come into effect,” Shurbir Poudel, the chairman of SEBON, told Republica.
By approving the CDS Regulations, the government has paved the way for starting CDS Company as per the Securities Act, 2006. Nepal Stock Exchange (Nepse) will have 51 percent in the to-be-formed company, while some banks and financial institutions will hold the remaining stake.
“We have already completed necessary preparations to set up the CDS Company. We will start the process of registering the company once we are formally informed about the approval of the regulations,” said Shankar Man Singh, the general manager of Nepse. He further informed that almost 75 percent work of the works related to developing CDS software has been completed so far. “We are hopeful that we will be able to commence start CDS System within four months,” he added.
The Indian government has expressed commitment to provide about Rs 150 million to set up CDS — the online based trading system — that enables trading of stock without any paper work. The proposed CDS Company will have a paid-up capital of Rs 300 million.
Nepse officials said CDS would make ownership transfer of securities fast and reliable and maintain data base of investors in a more scientific way with computer based trading.
Once CDS comes into effect, investors can transfer ownership of stocks in just a few seconds.
As per the newly approved regulations, CDS Company can open branches in different parts of the country and can set up transaction settlement fund with the seed money of Rs 10 million. It will collect Rs 3 per transaction from the investors.
According to the regulations, investors can deposit government bonds and bank deposit certificates in CDS Company for trading, transaction settlement and transfer of ownership.
(news source:myrepublica.com)
Mutual Funds knock on door
Though the capital market has been stable for the last few weeks the market index has been hovering around 400 points. The market lost 3.27 points last week when Nepal Stock Exchange (NEPSE) index settled at 403.15 points on Thursday from 406.41 points on Sunday. However, the capital market saw a major development last week i.e. the introduction of mutual funds regulation. It has paved the way for establishment of mutual funds whose need has been felt for long to manage stocks of small investors.
Last week, the indices of seven sub-groups plunged and pulled down the secondary market. With a loss of 18.11 points, the group of insurance companies suffered the most followed by others sector and trading companies that dropped 10.57 points and 10.20 points, respectively. The finance companies, hotels, hydropower companies and commercial banks also slipped by 2.18 points, 0.61 point, 0.44 point and 0.09 point, respectively. The development banks’ sub-group was the lone gainer in the week, posting a small gain of 0.12 point, while manufacturing and processing companies did not see a change in their sub-indexes.
“It’s not a new factor, this rise and fall in the index,” said Jagadish Agrawal, stock expert. He pointed to economic constraints as a result of the lack of a full budget. Despite an increase in the number of shares on the trading floor, the market turnover dropped by 4.60 percent. The secondary market could realise just Rs 210.69 million in contrast to Rs 220.86 million the previous week. Meanwhile, the number of shares traded soared with an increased number of companies on the trading floor. A total of 784,537 shares of 108 companies changed hands through 5,889 transactions. The previous week, just 541,130 shares of 98 companies had been traded through 4,195 transactions.
During the week, Nepal Bangladesh Bank captured pole position in terms of highest turnover and highest number of shares traded. The bank witnessed the trading of 429,000 shares amounting to Rs 82.45 million. With 823 transactions over the week, City Development Bank registered the highest number of transactions. The domestic stock exchange registered the listing of total of 495,539 units of bonus shares and rights shares of insurance companies and development banks over the week. At a time when the stock market is in a bearish mode, the introduction of mutual fund regulation has sparked hope in the secondary market. Stock analysts have welcomed the introduction of the regulation but are skeptical of some provisions of the regulation. “The space allocated for investment is low compared to huge paid-up capital requirements,” Agrawal said. As per the regulation, companies running mutual fund companies should have a minimum paid-up capital of Rs 1 billion and the investment in the stock market should not exceed 10 percent of the capital. “The demand in the secondary market is expected to rise with the establishment of mutual fund companies but limited space for investment may not be helpful in realizing expectations,” said Agrawal.
Nanda Kishore Mundada, president of Nepal Stockbrokers’ Association, termed the requirement of huge paid-up capital impractical. “The insurance companies apart from banks and financial institutions are interested in opening mutual funds, but the amount of paid-up capital requirement might deter them,” he said. The stock regulator, however, has a different view. Surbir Poudel, chairman of the Securities Board of Nepal, said relatively higher amount of paid-up capital was fixed in order to to discourage the trend of establishing mutual funds on a bandwagon.
(news source: ekantipur.com)
Last week, the indices of seven sub-groups plunged and pulled down the secondary market. With a loss of 18.11 points, the group of insurance companies suffered the most followed by others sector and trading companies that dropped 10.57 points and 10.20 points, respectively. The finance companies, hotels, hydropower companies and commercial banks also slipped by 2.18 points, 0.61 point, 0.44 point and 0.09 point, respectively. The development banks’ sub-group was the lone gainer in the week, posting a small gain of 0.12 point, while manufacturing and processing companies did not see a change in their sub-indexes.
“It’s not a new factor, this rise and fall in the index,” said Jagadish Agrawal, stock expert. He pointed to economic constraints as a result of the lack of a full budget. Despite an increase in the number of shares on the trading floor, the market turnover dropped by 4.60 percent. The secondary market could realise just Rs 210.69 million in contrast to Rs 220.86 million the previous week. Meanwhile, the number of shares traded soared with an increased number of companies on the trading floor. A total of 784,537 shares of 108 companies changed hands through 5,889 transactions. The previous week, just 541,130 shares of 98 companies had been traded through 4,195 transactions.
During the week, Nepal Bangladesh Bank captured pole position in terms of highest turnover and highest number of shares traded. The bank witnessed the trading of 429,000 shares amounting to Rs 82.45 million. With 823 transactions over the week, City Development Bank registered the highest number of transactions. The domestic stock exchange registered the listing of total of 495,539 units of bonus shares and rights shares of insurance companies and development banks over the week. At a time when the stock market is in a bearish mode, the introduction of mutual fund regulation has sparked hope in the secondary market. Stock analysts have welcomed the introduction of the regulation but are skeptical of some provisions of the regulation. “The space allocated for investment is low compared to huge paid-up capital requirements,” Agrawal said. As per the regulation, companies running mutual fund companies should have a minimum paid-up capital of Rs 1 billion and the investment in the stock market should not exceed 10 percent of the capital. “The demand in the secondary market is expected to rise with the establishment of mutual fund companies but limited space for investment may not be helpful in realizing expectations,” said Agrawal.
Nanda Kishore Mundada, president of Nepal Stockbrokers’ Association, termed the requirement of huge paid-up capital impractical. “The insurance companies apart from banks and financial institutions are interested in opening mutual funds, but the amount of paid-up capital requirement might deter them,” he said. The stock regulator, however, has a different view. Surbir Poudel, chairman of the Securities Board of Nepal, said relatively higher amount of paid-up capital was fixed in order to to discourage the trend of establishing mutual funds on a bandwagon.
(news source: ekantipur.com)
Tuesday, October 5, 2010
Cash Dividend: Mahalaxmi Finance Limited
The BOD meeting of the company dated 2067-06-16 has decided to distribute 7.75 percent cash dividend on subject to approval from concerned authorities and its upcoming AGM.
NMB Bank: AGM
15th AGM of NMB Bank will be held on following date and time.
Date: 24 Ashwin 2067 (As of 10 Oct. 2010)
Time: 10:00 Am
Place: Nepal Prasasanik prashichand prathisthan, Jaulakhel, Lalitpur
Book close: Ashwin 10 to Ashwin 24 2067
Date: 24 Ashwin 2067 (As of 10 Oct. 2010)
Time: 10:00 Am
Place: Nepal Prasasanik prashichand prathisthan, Jaulakhel, Lalitpur
Book close: Ashwin 10 to Ashwin 24 2067
Nepal Investment Bank: AGM
The AGM of Nepal Investment Bank Limited.
Date: Ashoj 27, 2067 (As if 13 Oct, 2010) Wednesday
Time: 10:00 Am
Place: Rastriya shavagriya, Pradashani Marga, Kathmandu.
Date: Ashoj 27, 2067 (As if 13 Oct, 2010) Wednesday
Time: 10:00 Am
Place: Rastriya shavagriya, Pradashani Marga, Kathmandu.
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