Tag: 20th

Prabhu Insurance Company Endorse 5% Dividend for FY 2079/80

Prabhu Insurance Company Limited (PRIN) has announced its 28th Annual General Meeting (AGM) scheduled for the 20th of Baishakh, 2081. The AGM will convene at the Prabhu Complex in Tinkune, Kathmandu, commencing at 10 am on the designated day.

Among the key agendas on the table, the AGM will endorse a 5% dividend for the fiscal year 2079/80. The decision was made during the 433rd meeting of the board of directors held on Falgun 20. The proposed dividend includes 4.75% bonus shares amounting to Rs. 6.53 crores and 0.25% cash dividend (for tax) totaling slightly over Rs. 34.40 lakhs, based on the paid-up capital of Rs. 1.37 Arba.

Additionally, the AGM will address crucial matters such as endorsing the auditor’s report along with PL statements, financial reports, and cash flow reports. The appointment of an auditor for the fiscal year 2080/81 and the formation of a board of directors with specific diversity criteria, including the inclusion of at least one female director and one independent director among a total of 7 directors, will also be deliberated.

The book closure date for shareholders entitled to the dividend payout and AGM participation is set for Baishakh 7, 2081. Investors who maintain shares before this date are eligible for the benefits outlined in the AGM agenda.

As of the latest update, PRIN’s Last Traded Price (LTP) stands at Rs. 795.00.

April 11, 2024
Nepse TMS 17 Login | NEPSE Online Trading System

ABC Securities Pvt. Limited

Indrachowk, Kathmandu
01-4230787

Stock Broke Number 17

Nepse TMS 17 Login

ABC Securities Private Limited commenced its operations on the 10th of Shrawan, 2054 B.S. (25th July 1997), earning the distinction of being one of the pioneering 25 firms to be awarded a Brokerage License by the Nepal Stock Exchange Ltd. Originally known as Khandelwal Stock Broking Co. Pvt. Ltd., the company underwent a transformation on the 10th of Jestha in the year 2066 B.S. (24th May 2009), changing its name to ABC Securities Pvt. Ltd. due to a change in ownership. This transformation was made possible by the authorization of the Securities Board of Nepal (SEBON), Nepal Stock Exchange Ltd. (NEPSE), and CDS & Clearing Ltd., granting ABC Securities Pvt. Ltd. licenses to operate in stock brokerage services, clearing services, and depository participant services (CDSCL).

In its initial years, the company was under the stewardship of the late Mr. Sajjan Kumar Agrawal, who instilled a culture of ethics and a relentless pursuit of improvement throughout the organization. Presently, Mr. Nitesh Kumar Agrawal and Mr. Yogesh Kumar Agrawal are the sole shareholders of the company. Mr. Nitesh Kumar Agrawal, as the Executive Chairman, oversees the general operations of the company, while Mr. Yogesh Kumar Agrawal is responsible for the company’s Remote Work Station (RWS) located in the eastern city of Dharan, Nepal.

ABC Securities Pvt. Ltd. has marked several milestones in its journey. Notably, it became the first brokerage firm to offer brokerage services in the eastern metropolis of Nepal, Dharan, starting from the 20th of Mangsir, 2070 B.S. (5th December 2013). This strategic move aimed to extend access to capital markets to residents living outside the Kathmandu Valley, thereby opening up investment opportunities for a broader audience. Through this initiative, ABC Securities facilitated direct access to Nepalese financial markets for investors in Dharan and neighboring cities, solidifying its position among the top brokers in Nepal in terms of trading volume among all the RWS operating in the country.

Throughout its journey, ABC Securities has played a pivotal role in the evolution of Nepal’s capital markets. It transitioned from the Open Out Cry System to the semi-automated trading system NEPSECTS and, eventually, to the NEPSE Online Trading System (NOTS) following the establishment of the Nepal Stock Exchange. Collaborating closely with the exchange, the company has provided valuable input into the development of new software systems. Furthermore, ABC Securities has modernized its IT infrastructure to align with the evolving demands of the industry.

For over two decades, ABC Securities has consistently delivered brokerage services founded on the highest ethical standards and a commitment to unmatched client service. The company firmly believes that trust is the cornerstone of a successful business, an especially critical element in the financial markets. This trust, particularly in terms of trading and settlement, has allowed ABC Securities to maintain robust trading volumes and secure its position among Nepal’s top ten brokerage firms for several years.

In pursuit of excellence, ABC Securities places significant emphasis on ongoing training sessions for its Human Resource personnel, ensuring they stay abreast of current practices and continue to enhance their skills. The company has also initiated and funded numerous investor training programs, further contributing to the development of Nepal’s financial ecosystem.

April 9, 2024
Mahalaxmi Bikas Bank Holds 20th Annual Meeting, Approves Cash Dividend and Plans for Future Growth

Mahalaxmi Bikas Bank Limited (MLBL) successfully concluded its 20th Annual General Meeting under the theme “Sabal Bank, Safal Sahakarya” at Lainchaur Banquet in Kathmandu. The meeting, led by Mr. Rajesh Upadhyay, Chairman of the Bank’s Executive Committee, undertook a comprehensive review of the financial performance for the fiscal year 2079/80. This assessment included a thorough examination of audited statements, profit and loss accounts, and cash flow details. Notably, a key highlight was the unanimous approval of a proposal to distribute a 6.40% cash dividend to shareholders based on the profits of the fiscal year.

Beyond financial matters, the meeting also reached a consensus on a proposal to explore potential strategic partnerships or investments with foreign banks and financial institutions. Additionally, the appointment of J.B. Rajbhandari and DiBins Chartered Accountants for the audit of the fiscal year 2080/81 received approval. The gathering further gave unanimous consent to amendments made to the bank’s management paper and regulations, reflecting a collaborative decision-making process during the Annual General Meeting.

January 16, 2024