The Securities Board of Nepal (SEBON), the country money market regulator, is soon planning to bring a new directive related to the issuance of rights issue that will allow public companies to issue rights only once in a fiscal year besides imposing other conditions.
An official of the board informed the Post that the main purpose of the proposed rule was to curb the long-running practice of manipulating the share market by issuing rights multiple times in a fiscal year. Though the existing guideline permits public companies to issue rights only once in a fiscal year, it has been relaxed in recent years to allow financial institutions to raise their capital as per the directions issued by Nepal Rastra Bank (NRB).
"We are thinking of tightening its implementation as ‘uncontrolled' issuance of rights has brought much distortion in the financial market in recent years," said the official. As per the directives of the central bank, commercial banks are required to raise their paid-up capital to Rs 2 billion by mid-July 2010.
SEBON chairman Dr Chiranjibi Nepal confirmed that the board had initiated homework to bring such a policy, and said that its main objective was to protect the interest of genuine investors by discouraging speculators.
According to the officials engaged in preparing the framework of the guidelines, public companies planning to issue rights shares will have to present a convincing and justifiable capital plan to ensure that the people's investments are secure.
The board has held a number of meetings in this connection with high-ranking officials of the central bank, and we have been assured that NRB would be extending all necessary cooperation, said an official.
Source: eKantipur
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Friday, August 22, 2008
Share Allotment of Shikhar Bittiya Sanstha
The shares of Shikhar Bittiya Sanstha Ltd. has been allotted.
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Royal Merchant Banking & Finance distributing right share certificate
Royal Merchant Banking & Fin. Ltd. is distributing its right share certificate from 22nd August 2008 (2065 Bhadra 6).
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Bank of Asia's cards
Bank of Asia Nepal Ltd will launch SCT debit card service for its customers. According to a press statement, an agreement was signed on Thursday between chief executive officer (CEO) Bibek Rana of SCT Pvt Ltd and Bank of Asia Nepal CEO Parshuram Kunwar. Customers can get the facility of SCT network from more than 200 ATM counters and more than 1000 PoS from neighbouring countries including Punjab National Bank in India. The debit card can be used at any SCT PoS without any extra charge.
Source: THT
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Source: THT
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NIBL kids' savings scheme
Nepal Investment Bank Ltd (NIBL) has brought out a Ketaketi Bachat Khata, for children below the age of 16. "They will get a Visa Electron debit card for free and also have access to various other benefits," said a NIBL press release. The account attracts three per cent interest and can be opened at any branch of NIBL. The bank will deposit Rs 100 in the account and provide privilege cards, birthday cakes and discount offers to its juvenile customers at different shops catering to kids' needs. To make children develop a habit of saving, NIBL has started this scheme.
Source: THT
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Source: THT
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Capital Merchant Banking starts Bonus Share Certificate Distribution
Capital Merchant Banking & Finance Ltd. is distributing its bonus share certificate.
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Shree Investment Finance's Right Share Allotment
Shree Investment Finance Co. Ltd. has allotted the right shares on 19th August 2008 (2064 Bhadra 3) that was issued on 23rd June 2008 (2065 Ashad 9).
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NIBL opens branch in Dhangadi
Nepal Investment Bank Ltd has opened its 20th branch in Dhangadi. The bank said in a statement that the new branch, inaugurated Tuesday, will provide international class quality services to the customers from Dhangadi and surrounding areas. The statement further said the branch will be linked through Any-Branch-Banking Service to all other branches. The key services provided by the branch include foreign exchange, retail banking, import, export, letter of credit and guarantees, remittance and credit facility.
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Securities Board to bring in rights issue policy
The Securities Board of Nepal (SEBON), the country money market regulator, is soon planning to bring a new directive related to the issuance of rights issue that will allow public companies to issue rights only once in a fiscal year besides imposing other conditions.
An official of the board informed the Post that the main purpose of the proposed rule was to curb the long-running practice of manipulating the share market by issuing rights multiple times in a fiscal year. Though the existing guideline permits public companies to issue rights only once in a fiscal year, it has been relaxed in recent years to allow financial institutions to raise their capital as per the directions issued by Nepal Rastra Bank (NRB).
"We are thinking of tightening its implementation as ‘uncontrolled' issuance of rights has brought much distortion in the financial market in recent years," said the official. As per the directives of the central bank, commercial banks are required to raise their paid-up capital to Rs 2 billion by mid-July 2010.
SEBON chairman Dr Chiranjibi Nepal confirmed that the board had initiated homework to bring such a policy, and said that its main objective was to protect the interest of genuine investors by discouraging speculators.
According to the officials engaged in preparing the framework of the guidelines, public companies planning to issue rights shares will have to present a convincing and justifiable capital plan to ensure that the people's investments are secure.
The board has held a number of meetings in this connection with high-ranking officials of the central bank, and we have been assured that NRB would be extending all necessary cooperation, said an official.
Source: eKantipur
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An official of the board informed the Post that the main purpose of the proposed rule was to curb the long-running practice of manipulating the share market by issuing rights multiple times in a fiscal year. Though the existing guideline permits public companies to issue rights only once in a fiscal year, it has been relaxed in recent years to allow financial institutions to raise their capital as per the directions issued by Nepal Rastra Bank (NRB).
"We are thinking of tightening its implementation as ‘uncontrolled' issuance of rights has brought much distortion in the financial market in recent years," said the official. As per the directives of the central bank, commercial banks are required to raise their paid-up capital to Rs 2 billion by mid-July 2010.
SEBON chairman Dr Chiranjibi Nepal confirmed that the board had initiated homework to bring such a policy, and said that its main objective was to protect the interest of genuine investors by discouraging speculators.
According to the officials engaged in preparing the framework of the guidelines, public companies planning to issue rights shares will have to present a convincing and justifiable capital plan to ensure that the people's investments are secure.
The board has held a number of meetings in this connection with high-ranking officials of the central bank, and we have been assured that NRB would be extending all necessary cooperation, said an official.
Source: eKantipur
Read More
NIBL kids' savings scheme
Nepal Investment Bank Ltd (NIBL) has brought out a Ketaketi Bachat Khata, for children below the age of 16. "They will get a Visa Electron debit card for free and also have access to various other benefits," said a NIBL press release. The account attracts three per cent interest and can be opened at any branch of NIBL. The bank will deposit Rs 100 in the account and provide privilege cards, birthday cakes and discount offers to its juvenile customers at different shops catering to kids' needs. To make children develop a habit of saving, NIBL has started this scheme.
Source: THT
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Source: THT
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Wednesday, August 20, 2008
Nepse plans internet trading, to spread wings
Nepal Stock Exchange Ltd (Nepse) has planned to develop Internet Trading software for the convenience of investors.
Similarly, it is developing Brokers' back office software to make the services of brokers more efficient. The sole secondary market has been in recent days updating itself and trying to expand its activities.
Nepse is also planning to have a display board at New Road or Putalisadak for the public. "The investors can get the trading report at the public place," said the Nepse in its plans for the fiscal year 2008-09.
Apart from Kathmandu, it is also planning to start trading in Biratnagar, Birgunj, Bhairahawa and Nepalgunj, the major business hubs outside Kathmandu valley.
"To give more investing opportunities to the investors outside the Kathmandu valley, Nepse is spreading its wing," said the Nepse. The past fiscal year was of great importance to the Nepse, as in the period, it started Wide Area Network (WAN) — an extended facility with the help of which brokers can trade from their office. Similarly, it started giving real time information through its website and started OTC market for the delisted and not listed companies to trade at the Nepse.
Source: THT
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Similarly, it is developing Brokers' back office software to make the services of brokers more efficient. The sole secondary market has been in recent days updating itself and trying to expand its activities.
Nepse is also planning to have a display board at New Road or Putalisadak for the public. "The investors can get the trading report at the public place," said the Nepse in its plans for the fiscal year 2008-09.
Apart from Kathmandu, it is also planning to start trading in Biratnagar, Birgunj, Bhairahawa and Nepalgunj, the major business hubs outside Kathmandu valley.
"To give more investing opportunities to the investors outside the Kathmandu valley, Nepse is spreading its wing," said the Nepse. The past fiscal year was of great importance to the Nepse, as in the period, it started Wide Area Network (WAN) — an extended facility with the help of which brokers can trade from their office. Similarly, it started giving real time information through its website and started OTC market for the delisted and not listed companies to trade at the Nepse.
Source: THT
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Nabil Bank Ltd completed Bond Allotment
Nabil Bank Ltd. has completed the allotment procedure of its redeemable bond.
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Kumari Bank Ltd's Right Share Certificate Distribution
Kumari Bank Ltd. is distributing its right share certificate from 24th August, 2008(2065 Bhadra 8).
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Tuesday, August 19, 2008
Standard Chartered Bank to give bonus shares and cash dividend
The 241st meeting of the Board of Directors of Standard Chartered Bank Nepal Ltd. held on 18th August 2008 has proposed a cash dividend at the rate of NPR 80 per share and one bonus for every two shares held (i.e. 2:1 bonus shares) for the fiscal year 2064/65. The proposal is yet to be approved from Nepal Rasta Bank and General Meeting of the shareholders.
Source: Jamb News Service
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Source: Jamb News Service
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Uniliver to give 325 percent dividend
The 90th BOD meeting held on date 2065-05-02 (2008/08/18) at Hindustan Liver House, Mumbai has proposed to give dividend Rs. 325 per share as the company has earned profit of Rs.33.51 crores for the F/Y 2064/65.
Source: Jamb News Service
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Source: Jamb News Service
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NMB's new service
NMB has launched a new savings deposit facility — NMB Advantage Savings Account. The bank claims the service is the first of its kind and provides higher return to depositors based on their deposit volume. The saving account has got maximum cash bonus up to Rs 300,000 per quarter, said a press release. with the cash incentive for depositing more and saving more, the savings account also provides many other benefits. This is one of the diverse line of services NMB has launched to provide innovative value added services.
Source: THT
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Source: THT
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Nepal Investment Bank becomes largest lender
Nepal Investment Bank Limited (NIBL), a leading private commercial bank, has become the largest lender among Nepali financial institutions by investing over Rs 29 billion and has the largest ATM network with 34 ATM machines in operation.
Talking to the media at a branch inauguration ceremony in Battisputali, Monday, Chairman and Chief Executive Director Pritivi Bahadur Pande said that the bank is planning to open 30 more branches in the next three years with special focus on expanding banking services to rural areas. We aim to expand micro credit to the hilly and rural areas, he said, adding that the bank will soon expand its capital base to Rs 2.40 billion to enable it to compete with emerging challenges in the banking sector.
According to a press statement, the newly branch is the bank's 19th in the country, the 8th in the Kathmandu valley, and will be linked through any-branch-banking services to the other 18. Foreign exchange, 365 days banking, retail banking, letters of credit, among others, are the key services provided by the bank, the statement said. In the coming years, it plans to have presence in remote hilly markets like Jumla, Lukla, Jomsong and other potential markets as well, the bank said.
Highlighting its major financial achievements, the release said that the bank made a net profit of Rs 696 million during Fiscal Year 2007/08. Likewise, it mobilized deposits worth Rs 34.45 billion in the year, a whopping growth of over 40 percent. Similarly, total loans and advances touched Rs 27 billion in 2007/08, a magnificent growth of 56 percent while total investments stood at Rs 6.87 billion. The non-performing loans of the bank is well within control at 1.12 percent, stated the release.
Source: eKantipur
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Talking to the media at a branch inauguration ceremony in Battisputali, Monday, Chairman and Chief Executive Director Pritivi Bahadur Pande said that the bank is planning to open 30 more branches in the next three years with special focus on expanding banking services to rural areas. We aim to expand micro credit to the hilly and rural areas, he said, adding that the bank will soon expand its capital base to Rs 2.40 billion to enable it to compete with emerging challenges in the banking sector.
According to a press statement, the newly branch is the bank's 19th in the country, the 8th in the Kathmandu valley, and will be linked through any-branch-banking services to the other 18. Foreign exchange, 365 days banking, retail banking, letters of credit, among others, are the key services provided by the bank, the statement said. In the coming years, it plans to have presence in remote hilly markets like Jumla, Lukla, Jomsong and other potential markets as well, the bank said.
Highlighting its major financial achievements, the release said that the bank made a net profit of Rs 696 million during Fiscal Year 2007/08. Likewise, it mobilized deposits worth Rs 34.45 billion in the year, a whopping growth of over 40 percent. Similarly, total loans and advances touched Rs 27 billion in 2007/08, a magnificent growth of 56 percent while total investments stood at Rs 6.87 billion. The non-performing loans of the bank is well within control at 1.12 percent, stated the release.
Source: eKantipur
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Double-digit growth and question of rich-poor gap
By: BISHWAMBHER PYAKURYAL
Double digit growth is not impossible but growth failing to reduce poverty, very much so. Since inequality has coexisted with growth it is necessary to look into whether the current growth in Nepal is sustainable or largely a function of the monsoon rains. Economic growth becomes unsustainable when there is a limitation in productive capacity and export products lack global competitiveness. Even if there is high growth, if the country slows down from above-potential growth rates, inflationary pressures develop and overall economic performance declines. This has happened in Venezuela and to some extent in Argentina and Columbia. This scenario poses a question: What kinds of growth do we expect with a human face of development? Growth theory hints at increasing number of macro-micro applications. As a safeguard , such application is beneficial to assessing income distribution consequences of macro policies.
Last year, the average growth rates in the East Asian economies and Latin America were 7.6% and 5.3% respectively. But average real income per capita (in 1985 dollars) during three decades averaged about $2,000 in East Asia, which was considerably less than the average of $3,400 in Latin America. It raises a few questions: does economic growth result in a more unequal distribution of income? Or is it that countries with unequal income distribution show slow growth? Should we achieve a faster growth or adopt redistributive policies to improve the condition of the poor?
In an egalitarian economy, the poorest groups’ share of total income has not changed over the last 60 years. World Bank economists Klaus Deininger and Lyn Square consider a 4% growth would be enough to raise the incomes of the poor. India has tried to sustain at least 4% growth in agriculture in order to achieve a double digit growth. Nepal’s annual average growth rate of GDP has remained at approximately 3% in past seven years. It ranges from 0.16 in 2001/02 to 5.65 (preliminary estimate) in 2007/08.
The reason for this satisfactory growth being the growth in rice production by almost 17% during the first eleven months of the FY 2007/08 and average growth of agriculture sector by 5.65%.
However, the average annual growth rate of agricultural GDP is just 3.2% during the same period (2000-08). The lowest rate is 0.94 in 2006/07 indicating the volatility of the sources of growth.
Thus there is the need to establish a link between growth and inequality. Other countries have sustained growth by massive investment in social and physical infrastructure. Newly Industrialized Economies have invested 20% of GDP in Physical Capital. Economic literature has identified a negative relationship between initial inequality and subsequent growth. It justifies the need for sustained growth.
India’s economy has grown by more than 8% for over a decade despite interrupted power supply and spiraling prices of petroleum products, which pushed inflation beyond double digit. China had sustained double digit growth for more than two decades. Such growth has contributed to reducing poverty and inequality and creating employment opportunities.
The trade-off is either that the farmer is given remunerative prices or the middle class citizens are hurt by making them pay more for food. Countries have followed the former path as a balanced approach to im proving the real incomes, and to minimizing temporary anomalies.
Azerbaijan (31%), Timor (24%), Macau and Angola (21.1%) have experienced more than 15% growth rate in real GDP during 2007/08.
Other countries with around 12% growth include Armenia, Sudan, Equatorial Guinea and Georgia. In Azerbaijan, in 2005, the growth rate was 26.4 % and in 2006 it climed to 36.6%. Their economy is based on oil and hydrocarbon and mining industries, which contribute around 95% to GDP . Gross fixed Investment in Azerbaijan is 54.4% of GDP . Despite 70% destruction of economic infrastructure in late 1999 by Indonesian troops and anti-independence militias, East Timor has achieved 24% growth. Macau’s growth is linked to tourism, much of which is geared towards gambling. Although an OPEC member country, Angola is now the fastest growing economy in Africa. It also has plenty of diamond, gold and uranium.
Capital and technology is a binding constraint in large investments in physical and human capital. Prolonged instability has weakened governance; as a result, resource management is poor. If the benefit of economic prosperity is considered high, hydro power, a renewable and sustainable source of growth, could become Nepal’s white gold. Harley-Davidson still exhibits double-digit growth after 100 years. Why do we not expect similar growth? But, careful, dear comrades, that the gap between the rich and the poor is not widened any further in the process.
Dr. Pyakuryal is professor of Economics, TU
Source: THT
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Double digit growth is not impossible but growth failing to reduce poverty, very much so. Since inequality has coexisted with growth it is necessary to look into whether the current growth in Nepal is sustainable or largely a function of the monsoon rains. Economic growth becomes unsustainable when there is a limitation in productive capacity and export products lack global competitiveness. Even if there is high growth, if the country slows down from above-potential growth rates, inflationary pressures develop and overall economic performance declines. This has happened in Venezuela and to some extent in Argentina and Columbia. This scenario poses a question: What kinds of growth do we expect with a human face of development? Growth theory hints at increasing number of macro-micro applications. As a safeguard , such application is beneficial to assessing income distribution consequences of macro policies.
Last year, the average growth rates in the East Asian economies and Latin America were 7.6% and 5.3% respectively. But average real income per capita (in 1985 dollars) during three decades averaged about $2,000 in East Asia, which was considerably less than the average of $3,400 in Latin America. It raises a few questions: does economic growth result in a more unequal distribution of income? Or is it that countries with unequal income distribution show slow growth? Should we achieve a faster growth or adopt redistributive policies to improve the condition of the poor?
In an egalitarian economy, the poorest groups’ share of total income has not changed over the last 60 years. World Bank economists Klaus Deininger and Lyn Square consider a 4% growth would be enough to raise the incomes of the poor. India has tried to sustain at least 4% growth in agriculture in order to achieve a double digit growth. Nepal’s annual average growth rate of GDP has remained at approximately 3% in past seven years. It ranges from 0.16 in 2001/02 to 5.65 (preliminary estimate) in 2007/08.
The reason for this satisfactory growth being the growth in rice production by almost 17% during the first eleven months of the FY 2007/08 and average growth of agriculture sector by 5.65%.
However, the average annual growth rate of agricultural GDP is just 3.2% during the same period (2000-08). The lowest rate is 0.94 in 2006/07 indicating the volatility of the sources of growth.
Thus there is the need to establish a link between growth and inequality. Other countries have sustained growth by massive investment in social and physical infrastructure. Newly Industrialized Economies have invested 20% of GDP in Physical Capital. Economic literature has identified a negative relationship between initial inequality and subsequent growth. It justifies the need for sustained growth.
India’s economy has grown by more than 8% for over a decade despite interrupted power supply and spiraling prices of petroleum products, which pushed inflation beyond double digit. China had sustained double digit growth for more than two decades. Such growth has contributed to reducing poverty and inequality and creating employment opportunities.
The trade-off is either that the farmer is given remunerative prices or the middle class citizens are hurt by making them pay more for food. Countries have followed the former path as a balanced approach to im proving the real incomes, and to minimizing temporary anomalies.
Azerbaijan (31%), Timor (24%), Macau and Angola (21.1%) have experienced more than 15% growth rate in real GDP during 2007/08.
Other countries with around 12% growth include Armenia, Sudan, Equatorial Guinea and Georgia. In Azerbaijan, in 2005, the growth rate was 26.4 % and in 2006 it climed to 36.6%. Their economy is based on oil and hydrocarbon and mining industries, which contribute around 95% to GDP . Gross fixed Investment in Azerbaijan is 54.4% of GDP . Despite 70% destruction of economic infrastructure in late 1999 by Indonesian troops and anti-independence militias, East Timor has achieved 24% growth. Macau’s growth is linked to tourism, much of which is geared towards gambling. Although an OPEC member country, Angola is now the fastest growing economy in Africa. It also has plenty of diamond, gold and uranium.
Capital and technology is a binding constraint in large investments in physical and human capital. Prolonged instability has weakened governance; as a result, resource management is poor. If the benefit of economic prosperity is considered high, hydro power, a renewable and sustainable source of growth, could become Nepal’s white gold. Harley-Davidson still exhibits double-digit growth after 100 years. Why do we not expect similar growth? But, careful, dear comrades, that the gap between the rich and the poor is not widened any further in the process.
Dr. Pyakuryal is professor of Economics, TU
Source: THT
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FNCCI to don warpaint over syndicate issue
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) today urged the government to put an end to the illegal syndicate system and warned of launching a strong protest programme throughout the nation, if its demands was not addressed by the government within seven days.
“Though we are demanding our rights, the government is not paying heed. If it does not wakes up to the issue, we are all set to launch a strong protest program after a week,” said FNCCI president Kush Kumar Joshi during a -press meet here today.
It is now 56 days that the entire business sector including industrial houses are protesting against the monopoly system of syndicates. Today is also the eight day that business people from the Western Development Region and Far Western Development Region are staging a protest at Mandala but the government is indifferent.
According to Kailali Chambers of Commerce representative Mohan Raj Sharma, workers in general lack security though escort is given after they agitate for it.
Sharma said there were many drivers who had been assaulted while on duty.
“Workers are are threatened and mentally tortured for working. Security is not being provided to us, the security forces are apathetic,” he complained.
Joshi also focused on several unpleasant events that occurred even after businessmen’s meeting with former Prime Minister Girija Prasad Koirala on August 11.
He said that though FNCCI reresentatives met the former PM and complained about the problem of the syndicate system the problem was not addressed and workers in the Central and Far western development regions, especially in transportation sector, were extremely affected.
“We are repeatedly making phone calls to the Secretary to the Home Ministry but no one answers the phone,”Joshi alleged and added, “We should get compensation and the guilty persons should be punished.” He added, “We are ready to call off our protest. There is an investment of Rs 45 billion in the transportation sector. We do not want to trouble common people but if our voice is not heard byt the government we will have to launch a most hard-hitting protest programme.”
Source: THT
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“Though we are demanding our rights, the government is not paying heed. If it does not wakes up to the issue, we are all set to launch a strong protest program after a week,” said FNCCI president Kush Kumar Joshi during a -press meet here today.
It is now 56 days that the entire business sector including industrial houses are protesting against the monopoly system of syndicates. Today is also the eight day that business people from the Western Development Region and Far Western Development Region are staging a protest at Mandala but the government is indifferent.
According to Kailali Chambers of Commerce representative Mohan Raj Sharma, workers in general lack security though escort is given after they agitate for it.
Sharma said there were many drivers who had been assaulted while on duty.
“Workers are are threatened and mentally tortured for working. Security is not being provided to us, the security forces are apathetic,” he complained.
Joshi also focused on several unpleasant events that occurred even after businessmen’s meeting with former Prime Minister Girija Prasad Koirala on August 11.
He said that though FNCCI reresentatives met the former PM and complained about the problem of the syndicate system the problem was not addressed and workers in the Central and Far western development regions, especially in transportation sector, were extremely affected.
“We are repeatedly making phone calls to the Secretary to the Home Ministry but no one answers the phone,”Joshi alleged and added, “We should get compensation and the guilty persons should be punished.” He added, “We are ready to call off our protest. There is an investment of Rs 45 billion in the transportation sector. We do not want to trouble common people but if our voice is not heard byt the government we will have to launch a most hard-hitting protest programme.”
Source: THT
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FNCCI sad at stir
FNCCI has expressed regret at the agitation of the tea workers at Kanyam Tea Estate, Ilam. According to an FNCCI press release, tea workers at Kanyam Tea State are forcibly plucking green tea leaves without the permission of the management and carting these home.
FNCCI has asked them to initiate talks in a cordial environment.
Source: THT
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FNCCI has asked them to initiate talks in a cordial environment.
Source: THT
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Monday, August 18, 2008
Sanima Bank's offer
To add value to its services, Sanima Bikas Bank Ltd has introduced a customised deposit product called ‘Sanima Udhyami Khata'. The aim is to facilitate micro entrepreneurs with initial deposits of Rs 1000, unlimited deposit and withdrawal, interest rate up to 5.5 per cent per annum on daily balance and free account statement, chequebook issue, and more. The bank has made a collection of Rs 2.88 billion and posted loans and advances of Rs 2.53 billion as of till the end of the fourth quarter of fiscal year 2064-65.
Source: THT
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Source: THT
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Cosmic with new Leaders
Promoter and management team of Cosmic Merchant Banking & Finance Ltd. has changed. The new board of directors of the company consists of Mr. Mangalman Bajracharya as Chairman from the promoter's side, Mr. Gautam Kumar Shrestha and Mr. Prashant Manandhar as directors and Mr. Hikmat Bahadur Mali as well as Mr. Pushpaman Shrestha as the representatives from the public shareholders. The responsibility of Chief Executive Officer (CEO) of the company is given to Mr. Rajendraman Shakya and Mr. Rajesh Prasad Manandhar is the new Managing Director (MD). The CEO and MD of the bank hold 30 year and 15 years of banking experience respectively. Completing the 2063/64 and 2064/65 general meeting within five months, extending the business, capital increment and name amendment are some of the major targets of the new management team.
Source: Jamb News Service
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Source: Jamb News Service
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Nepal Housing Dev. Finance Co's Right Share Issue Date Extended
Nepal Housing Dev. Finance Co. Ltd. has extended its right share issue date upto 12th September, 2008 (2065 Bhadra 27)
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Gorkha Finance Ltd's Right share Issued date Extended
Gorkha Finance Ltd. has extended its right share issue date to 10th September, 2008 (2065 Bhadra 25).
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