NEPSE has listed 7,00,625 unit bonus shares of Mahila Laghubitta Bittiya Sanstha Limited (MLBSL).
On 21st Falgun, the company held its 5th AGM for FY 2078/79 and approved a 50% dividend worth Rs. 7.37 crores for the fiscal year 2078/79. On Poush 26, the 51st board of directors decided to distribute the dividend on the paid-up capital of Rs. 14.75 crores. There was a proposal for 47.5% bonus shares worth Rs 7 crores and a 2.5% cash dividend (including tax) worth Rs 36.87 lakhs.
According to the Nepal Rastra Bank, inflation remained at 7.88 percent year on year. During the mentioned period, the gross foreign exchange reserves stood at USD 10.50 billion, while total imports and exports decreased by 19.9 percent and 29 percent, respectively, and the trade deficit decreased by 18.7 percent.
The outstanding concessional loan was Rs.210.96 billion as of mid-February 2023, with 148,295 borrowers. For selected commercial agriculture and livestock businesses, Rs.142.56 billion has been extended to 61,335 borrowers. Similarly, 84,105 women entrepreneurs have received loans totaling Rs.65.19 billion. A total of 2,855 borrowers have received concessional loans in other specified sector
SHIVAM CEMENTS LTD (SHIVM) shares traded the most and had the highest turnover of Rs. 7.85 crores closing at a market price of Rs. 455 per share.
Shuvam Power Limited (SPL) gained the highest 9.98% and technically hit positive for the day.
Conversely, Siddhartha Investment Growth Scheme – 2 (SIGS2) lost the highest 5.81% today.
All sector indices closed green, “Hydropower” gained the highest 3.59% while “Manufacturing And Processing” gained the least 1.53% today.
The bonus dividend of National Microfinance Laghubitta Bittiya Sanstha Limited (NMFBS) has been reduced from 38.5% to 34.45%.
NMFBS proposed a Bonus Dividend of 38.5% for fiscal year 2078/79. The 141st board of directors meeting, held on Magh 9, proposed a 38.5% bonus from paid-up capital for fiscal year 2078/79. The company’s paid-up capital is Rs. 58.66 crores. As a result, the company proposed bonus shares worth Rs. 22.58 crores.
The NEPSE index increased 4.55 points from the previous trading day’s closing to close at 2,027.19 today. The gain here is 0.22%. On Thursday, the index fell 57.74 points.
The index hit an intraday low of 1,961.24 and started the day at 2,016.54. Although it peaked at 2,029.66 and ended up closing at 2,027.19
Through 50,532 transactions, 262 scrips changed hands. 6,515,852 shares in all were traded for a total market value of Rs. 2.525 Arba. This is a little more than the turnover of Rs. 2.522 Arba from the previous trading day.
The NEPSE index closed at 2,105.46 today after losing 16.40 points from the last trading day’s closing. This is a loss of 0.77%. The index lost 60.88 points on Sunday.
Today the index opened at 2,122.41 and made an intraday high of 2,122.56. It went as low as 2,100.57 and ultimately closed at 2,105.46.
The earnings of Rastriya Beema Company Limited (RBCL) climbed by an astonishing 92.57% in the second quarter of fiscal year 2079/80 compared to the same period the previous year.
According to the financial report released today, it made a net profit of Rs 37.41 crore in the second quarter of fiscal year 2079/80, up from Rs 19.43 crore in the same period of fiscal year 2078/79.
While its net premium income climbed by 64.60% from Rs 12.88 Crore to Rs 21.21 Crore at the end of the second quarter of this year, its reinsurance commission revenue declined to Rs 9.4 Crore from Rs 9.9 Crore.
It presently has Rs 3.57 Arba in reserve and Rs 2.85 Arba in insurance funds. It has a paid-up capital of Rs.26.66 Crore.
Its earnings per share are Rs 280.67, its net worth per share is Rs 1439.77, and its P/E ratio at the end of the quarter is 14.25 times.
This week’s NEPSE index finished at 2,182.63, up 88.09 points (4.21%). Last week, the index finished at 2,094.54, down 4.06% from the previous week.
This week, the index reached a top of 2,213.78 and a low of 2,087.48, resulting in a 126.3 point swing. The prior week’s volatility on the index was 101.74 points.
Mahila Laghubitta Bittiya Sanstha Limited (MLBSL) has scheduled its 5th Annual General Meeting on 21st Falgun, 2079. The conference will begin at 11 a.m. that day at the Agantuk Resort in Dhulikhel.
Among the other items on the agenda, the AGM will approve a 50% dividend of Rs. 7.37 crores for fiscal year 2078/79. On Poush 26, the 51st board of directors resolved to issue the dividend on the paid-up capital of Rs. 14.75 crores. There is a proposal for 47.5% bonus shares worth Rs 7 crores and a 2.5% cash dividend (including tax) of Rs 36.87 lakhs.
There is also a plan to approve the auditor’s report containing PL statements, financial reports, and cash flow reports for fiscal year 2078/79 and select an auditor for fiscal year 2079/80. During the meeting, the proposal to provide the Board of Directors authority to monitor any company-related merger or acquisition procedures will be adopted. The meeting will also examine expanding the authorized, issued, and paid-up capital of the corporation.
The book will be closed on February 5th. As a result, shareholders who held shares prior to that date are entitled to the dividend distribution and are welcome to attend this AGM.
We already know how to send freelancing revenue to Nepal because we are successful freelancers. There are a variety of options to choose from. However, we must choose which option is better for us.
Let’s look at Upwork earnings as an example. In this article, we’ll compare practically every payment method available on Upwork. So far, there are four alternatives available for everyone. Only Nepali freelancers should use Direct to Local Bank (NPR), according to Upwork. For each withdrawal, they levy a little fee of $0.99. However, their currency exchange rate is HORRIBLE. They offer a rate that is 3-4 rupees lower than Nepal’s daily foreign exchange rate. To evaluate which option is the best, we’ll use simple math to transfer $1000 using the exchange rate of 20/12/2019 ( NPR 1 = USD 113.89).
Direct to Local Bank (BDT)
Let’s assume that the bank’s rate is NPR 2 less than the forex rate.
$0.99 per withdrawal to Nepal.
$1000 – $0.99 = $999.01 X 111.89 = NPR 111,779.23
Normally it takes one or two days to arrive at your bank account.
So the ultimate rate for $1 is NPR 111.78
Payoneer
$2 USD per withdrawal from Upwork.
Normal Delivery:
$1000 – $2 = $998 X 113.89 = NPR 113,662.22
Normally it takes three to four days to arrive at your bank account.
Fast Delivery:
$1000 – $2 = $998 – $2.5 (Payoneer Quick Load Fee) = $995.5 X 113.89 = NPR 113,377.50
Normally it takes two to three days to arrive at your bank account.
So the ultimate rate for $1 is NPR 113.66 with normal delivery and NPR 113.38 with faster delivery.
Wire Transfer (USD)
It is not suitable for Nepal. It charges $30 for each transaction and takes a long time with various difficulties.
Direct to U.S Bank (USD)
Free payments to U.S Bank account in USD.
It is also not suitable for Nepal. Most of the Nepali freelancers don’t have U.S Bank account.
Final Consideration
By Direct to Local Bank (BDT): $1 = NPR 111.78
Via Payoneer: $1 = NPR 113.66
Conclusion
Finally, we can take a fair decision to determine that Payoneer is the best way to send freelancing income to Nepal. And hopefully, we will find the same results in other marketplaces too.