Tag: Buffett

  • A Parliamentary Committee implements proactive measures to rectify irregularities in IPO premiums, lock-in periods, and enhance transparency in the stock market

    A Parliamentary Committee implements proactive measures to rectify irregularities in IPO premiums, lock-in periods, and enhance transparency in the stock market


    In a recent parliamentary committee meeting, concerns were raised about life insurance companies issuing IPO shares at premium prices, potentially above standard values. Allegations of improper premium approvals prompted an investigation into possible misconduct and misuse of authority. Here are the key directives issued by the committee after discussions with relevant authorities:

    1. The absence of Mr. Ramesh Kumar Hamal, Chairman of the Securities Board of Nepal, in the meeting raised concerns. The committee instructs the Commission for Investigation of Abuse Of Authority to investigate the financial transactions and practices of the Chairman within 30 days.
    2. The committee emphasizes transparency in regulations governing share issuance by companies. Immediate steps include the publication of regulations, amendments in the Nepal Gazette, and measures to prevent undue influence on investors.
    3. The committee directs the Securities Board of Nepal (SEBON) to adopt the Book Building process to address concerns about companies issuing IPOs at premium prices.
    4. The committee urges the Nepal Insurance Authority to rectify conflicts between the Insurance Act and the Banking and Financial Institutions Act regarding share prices for insurance companies.
    5. The committee suggests creating new laws to regulate the Company Registrar effectively and calls for government action.
    6. Recognizing challenges with the three-year lock-in period for promoter shareholders in hydropower projects, the committee instructs SEBON to intervene strategically to manage one-third of shares held by promoters.
    7. The committee urges the Ministry of Finance, SEBON, and the Nepal Insurance Authority to expand the scope of the Nepalese stock market, including instruments like debentures, bonds, and green bonds.
    8. The committee directs the Ministry of Finance, the Company Registrar’s Office, and SEBON to initiate the process for large companies with over Rs. 5 Arba in capital to become public companies within a year.
    9. The committee investigates whether companies issuing premium shares in the past three years set reasonable prices and instructs the Commission for Investigation of Abuse Of Authority to take legal action if wrongdoing is found.
    10. To address issues with life insurance premiums, the committee suggests imposing a minimal handling fee on surrendered policies and directs the Nepal Insurance Authority to submit information within three months.
    11. The committee announces that the next meeting will be scheduled after receiving relevant information on the outlined directives.
  • Siddhartha Capital announces a rise in Net Asset Value (NAV), with SIGS3 NAV surpassing par for the month of Mangsir

    Siddhartha Capital announces a rise in Net Asset Value (NAV), with SIGS3 NAV surpassing par for the month of Mangsir


    “Siddhartha Equity Fund (SEF),” a 10-year closed-end mutual fund managed by Siddhartha Capital Limited, has reported an increase in its Net Asset Value (NAV) for Mangsir. According to the financial report, the NAV stands at Rs. 9.68 at the end of Mangsir 2080, up from Rs. 9.16 in the previous month. With a total fund of Rs. 1.50 Arba, SEF has invested in listed shares, public issues, right shares, bonus shares, bonds/debentures, fixed deposits, and maintains a bank balance. The fund reports a net loss of Rs. 5.36 Crores in Mangsir, a significant improvement from the net loss of Rs. 13.07 Crores in the previous month.

    Similarly, “Siddhartha Systematic Investment Scheme (SSIS),” an open-end fund without a maturity period and a fund size of Rs. 57.83 crores for Mangsir, has unveiled its NAV report. The NAV increased to Rs. 9.00 from Rs. 8.54 in the previous month. Investments in listed shares, public issues, FDs, bonds/debentures, and a bank balance are highlighted. SSIS reports a profit of Rs. 25.67 lakhs in Mangsir, rebounding from a loss of Rs. 2.34 crores in the previous month.

    Furthermore, “Siddhartha Investment Growth Scheme 2 (SIGS2),” a 10-year closed-end mutual fund, managed by Siddhartha Capital Limited, reports an increased NAV of Rs. 9.68 in Mangsir, compared to Rs. 9.12 in the previous month. With a total fund of Rs. 1.20 Arba, SIGS2 has invested in listed shares, public issues, right shares, bonus shares, bonds/debentures, FDs, and maintains a bank balance. The fund reports a net loss of Rs. 4.32 crores in Mangsir, improving from a net loss of Rs. 11.11 crores in the previous month.

    Lastly, “Siddhartha Investment Growth Scheme – 3 (SIGS3),” a 10-year closed-end fund with an NAV of Rs. 10.34 in Mangsir, up from Rs. 9.78 in the previous month, has a fund size of Rs. 80.58 Crores. The fund has invested in listed shares, public issues, FDs, bonds/debentures, and maintains a bank balance. SIGS3 reports a net profit of Rs. 21.77 lakhs in Mangsir, a positive shift from the net loss of Rs. 4.28 Crores in the previous month.

  • Nepal’s gold market experiences unprecedented highs in a remarkable surge.

    Nepal’s gold market experiences unprecedented highs in a remarkable surge.


    The Nepalese gold market witnessed an extraordinary surge, reaching an all-time high on December 28, 2023. The Federation of Nepal Gold and Silver Dealers’ Association reported a remarkable single-day increase of Rs. 1,300, propelling fine gold to an unprecedented rate of Rs. 1,22,000 per tola.

    Previously, on December 4, 2023, fine gold had reached a historic peak of Rs. 1,21,600 per tola, establishing a record at that time. Tejabi gold, another highly coveted variety, also experienced a significant uptick, currently valued at Rs. 1,21,400 per tola, up from its previous rate of Rs. 1,20,100.

    In line with this trend, silver prices have also risen, reaching 1,490 rupees per tola with a gain of 15 rupees. In comparison, Wednesday recorded a silver price of Rs. 1,475 per tola.

    While the domestic market witnesses a surge in prices, the international market remains a crucial factor. As of the latest update, the current rate of gold is $2,086.13 per ounce. Internationally, silver also demonstrates positive momentum, with prices reaching $24.44 per ounce.

  • Prabhu Capital’s mutual funds announce an increase in Net Asset Value (NAV) and net profit for the month of Mangsir

    Prabhu Capital’s mutual funds announce an increase in Net Asset Value (NAV) and net profit for the month of Mangsir


    “Prabhu Select Fund (PSF)” has released its Net Asset Value (NAV) report for Mangsir, showcasing an increase from Rs. 9.57 to Rs. 10.20 in the fiscal year 2080. This 7-year closed-end scheme, initially starting with a fund size of Rs. 1.25 Arba, has invested in listed shares, public issues, right shares, bonus shares, fixed deposits, and bonds/debentures. The scheme reports a net profit of Rs. 1.99 crores in Mangsir, rebounding from a loss of Rs. 5.87 crores in the previous month.

    Similarly, “Prabhu Smart Fund (PRSF),” a 10-year closed-end scheme with a fund size of Rs. 1 Arba, has published its NAV report for Mangsir. The NAV increased from Rs. 10.14 to Rs. 10.60. Investments in listed shares, public issues, right shares, bonus shares, fixed deposits, and bonds/debentures are noted for this scheme as well. PRSF reports a net profit of Rs. 72.90 Lakhs in Mangsir, recovering from a net loss of Rs. 3.92 Crores in the previous month.

  • Laxmi Capital releases Net Asset Value (NAV) report for Mutual Fund Schemes in Mangsir

    Laxmi Capital releases Net Asset Value (NAV) report for Mutual Fund Schemes in Mangsir


    “Laxmi Equity Fund (LEMF),” a 7-year closed-end equity-oriented mutual fund scheme managed by Laxmi Capital Market Limited, has reported an increased Net Asset Value (NAV) of Rs. 9.89 in Mangsir, up from Rs. 9.20 in the previous month. With a fund size of Rs. 1.25 Arba, the scheme has invested Rs. 86.94 crores in listed shares of various companies. LEMF’s financials also indicate investments in public offerings, bonds/debentures, fixed deposits, and a bank balance. The fund reports a net loss of Rs. 18.67 crores in Mangsir, compared to Rs. 27.24 crores in the previous month.

    In a similar vein, Laxmi Capital Market Limited has released the financial report of “Laxmi Unnati Kosh (LUK)” for Mangsir, reporting an NAV of Rs. 10.04, up from Rs. 9.35 in the previous month. With a fund size of Rs. 65.2 Crores, LUK has invested in listed shares, public issues, fixed deposits, and debentures. The fund reports a net loss of Rs. 5.80 crores in Mangsir, compared to Rs. 10.27 crores in the previous month.

    Furthermore, the NAV report of “Shubha Laxmi Kosh (SLK),” an open-ended fund with a fund size of Rs. 28.48 crores for Mangsir, reveals an NAV of Rs. 9.96, up from Rs. 9.38 in the previous month. SLK has invested in listed shares, public issues, bonds/debentures, fixed deposits, and reports a net loss of Rs. 34.20 lakhs in Mangsir, compared to Rs. 1.99 crores in the previous month.

    Lastly, the NAV report of “Laxmi Value Fund II (LVF2),” a closed-end fund with a fund size of Rs. 80 Crores for Mangsir, shows an NAV of Rs. 10.13, up from Rs. 9.72 in the previous month. LVF2 has invested in listed shares, public issues, fixed deposits, and reports a net profit of Rs. 1.06 crore in Mangsir, compared to a net loss of Rs. 2.22 crores in the previous month.

  • Ncell submits unsigned share purchase documents to Telecom Authority.

    Ncell submits unsigned share purchase documents to Telecom Authority.


    Ncell has submitted a share purchase document to the Nepal Telecommunication Authority without the required signature, according to Purushottam Khanal, Chairman of the Telecommunications Authority.

    During a session with the Parliament’s Technology Committee, Khanal revealed that the document lacked essential elements like a signature, seal, and stamp. The incident, occurring on the 13th of Last Mangsir when 80% of Ncell’s shares were bought and sold without prior approval, raises concerns about the transaction’s completeness and validity.

    The Telecommunications Authority is actively working with Ncell to ensure accurate and compliant submission of necessary details. The Parliament’s Technology Committee closely monitors the situation, emphasizing the importance of following proper procedures in telecommunications sector share transactions.

  • Kutheli Bukhari Small Hydropower and Green Ventures Limited announces AGM with specific agendas

    Kutheli Bukhari Small Hydropower and Green Ventures Limited announces AGM with specific agendas


    Kutheli Bukhari Small Hydropower Limited (KBSH) has called its 12th AGM on Poush 27, 2080. The meeting will be held in German Homes Hospitality Pvt. Ltd., Gatthaghar, Bhaktapur, starting at 11:30 am that day.

    These are the agendas of the AGM:

    1) Endorsement of financial reports for the fiscal year 2079/80.
    2) Endorse the auditor’s report of 2079/080 with PNL statements, financial reports, and cash flow reports.
    3) Appointment of the auditor and determination of their remuneration for the fiscal year 2080/81.
    4) Election of board members from public shareholding groups.
    5) Regarding the formation of the board of directors.

    The company has not proposed any dividend for FY 2079/80.

    18th Poush is the book closure date. Therefore, the shareholders maintained before that day are entitled to attend this AGM.

    Green Ventures Limited (GVL) has called its 5th AGM on 5th Magh, 2080. The meeting will be held in Baneshwor Banquet, Kathmandu, starting at 11 AM that day.

    These are the agendas of the AGM:

    1) Endorsement of the annual report of the company.
    2) Endorse the financial and auditor’s reports with PL statements, financial reports, and cash flow reports for FY 2079/80.
    3) Endorse the appointment of the auditor for the fiscal year 2080/81.
    4) Elect a director from the public shareholding group.
    5) To determine the meeting allowance of the board of directors.
    6) Miscellaneous.

    The book closure date is from Poush 20. Thus, shareholders maintained before that day can attend the AGM.

  • Nepal Rastra Bank is managing excess liquidity through ongoing withdrawals from the banking system

    Nepal Rastra Bank is managing excess liquidity through ongoing withdrawals from the banking system


    Amidst a surge in liquidity, the central bank is actively withdrawing deposits from banks and financial institutions, having withdrawn a substantial 105 arba rupees in the month of Poush alone. Despite these efforts, the average interest rate for deposits has moderately increased from 2.4784% to 2.8594% between Poush 1 and Poush 11.

    While managing liquidity, the interbank interest rate remains below the central bank’s deposit collection rate of 3%, indicating ample liquidity in the market. If lending activities don’t align with available liquidity, a further decrease in interest rates is possible.

    Recognizing the evolving situation, the central bank may reconsider policies and introduce more flexible provisions. Recent adjustments in the first quarter monetary policy review demonstrate an adaptive approach. Continued liquidity growth may prompt additional measures to maintain a balanced and stable financial environment.

  • Rising global oil prices amid world turmoil spark diplomatic discussions among major powers

    Rising global oil prices amid world turmoil spark diplomatic discussions among major powers


    Thursday saw a surge in crude oil prices, driven by global economic uncertainties due to ongoing conflicts. Despite some easing of concerns about Red Sea shipping disruptions, tensions persist in the Middle East, supporting oil prices.

    In the Comex division of IC Exchange in London, Brent crude, the international benchmark, rose 0.1% to $79.75 per barrel. Meanwhile, WTI prices in the New York Mercantile Exchange’s Comex division dipped slightly to $74.06 per barrel.

    Major geopolitical events, such as the Russia-Ukraine and Israel-Hamas conflicts, have intensified oil diplomacy among key economies: the United States, China, Russia, and India. Facing Western sanctions, Russia has shifted fuel exports to China and India, reducing its European market share.

    China has become a pivotal player, with 45-50% of its oil imports now sourced from Russia, surpassing Saudi Arabia as its primary supplier. India, previously a minor buyer, now obtains nearly 40% of its oil from Russia.

    To counter sanctions, Russia has expanded its oil exports, reportedly refining Russian crude in India and selling it to European customers through alternative routes. Moscow aims to explore new markets for natural gas and oil exports, expecting significant revenue despite sanctions.

    While major shipping companies, including Maersk, have resumed Red Sea operations, ongoing Middle East tensions, along with Iran’s involvement, add complexity to the oil supply landscape.

    Russian President Vladimir Putin expressed a strengthening of ties with India during a meeting with Indian Foreign Minister S. Jaishankar. As global uncertainties persist, geopolitical events continue to influence global oil dynamics, underscoring the interconnectedness of economic and diplomatic factors.

  • Nabil Bank introduces ‘Instant Gold Loan’ for swift financial solutions

    Nabil Bank introduces ‘Instant Gold Loan’ for swift financial solutions


    Nabil Bank Limited (NABIL) has launched its new financial offering, the ‘Instant Gold Loan,’ designed to provide customers with quick access to funds. This scheme allows individuals to secure loans up to 10 lakh rupees at a competitive interest rate of 12.30%, ensuring loan disbursement within one hour.

    The emphasis is on the convenience of this service, addressing immediate financial needs with minimal complexities. Nabil Bank also provides complimentary insurance coverage for the gold used as collateral, enhancing security for borrowers.

    This innovative program caters to diverse financial requirements, and initially, Nabil Bank is rolling out the service through eight branches across Nepal. For valley customers, the service is accessible at Kumaripati, Kalimati, and Suryabinayak branches, while those outside the valley can avail it at Dharan-Mahendrapath, Butwal-Chauraha, Nepalgunj (Bhanubhakta Chowk), Phidim, and Chipledhunga branches.

  • All five mutual fund schemes managed by NIC Asia Capital have reported Net Asset Values (NAV) above par for the month of Mangsir

    All five mutual fund schemes managed by NIC Asia Capital have reported Net Asset Values (NAV) above par for the month of Mangsir


    NIC Asia Balanced Fund (NICBF):

    NIC Asia Balanced Fund (NICBF), a 10-year closed-end mutual fund scheme managed by NIC Asia Capital, has released its Net Asset Value (NAV) report for Mangsir. The NAV for the period is Rs. 10.31, reflecting an increase from Rs. 9.95 in the previous month. The scheme, starting with a fund size of Rs. 75.50 crores, has allocated Rs. 40.74 crores to shares of listed companies and Rs. 21.77 crores to debentures. Additionally, Rs. 54.92 lakhs have been invested in non-listed shares, and the bank balance stands at Rs. 11.07 crores. The fund reports a net profit of Rs. 1.80 Crore in Mangsir, compared to a net loss of Rs. 87.41 lakhs in the preceding month.

    NIC Asia Dynamic Debt Fund (NADDF):

    The NAV report for NIC Asia Dynamic Debt Fund (NADDF) has been issued. As an open-end fund with no fixed maturity period and a total size of Rs. 63.08 crores, the fund has invested Rs. 16.34 crores in listed shares, Rs. 58.84 lakhs in non-listed shares, and Rs. 31.50 crores in listed debentures. Additionally, Rs. 5.2 crores of the fund is in fixed deposits, and the bank deposits exceed Rs. 11.58 crores. The NAV for Mangsir is reported at Rs. 10.38, showing an increase from Rs. 10.08 in the previous month. The fund reports a profit of Rs. 1.82 crores in Mangsir, compared to Rs. 6.48 lakhs in the preceding month.

    NIC Asia Growth Fund (NICGF):

    NIC Asia Growth Fund (NICGF), a closed-end fund scheme with a 7-year maturity period, has published its monthly NAV report for Mangsir, 2080. The NAV for Mangsir is reported at Rs. 10.90, up from Rs. 10.39 in the previous month. Starting with a fund size of Rs. 83.52 crores, the scheme has allocated Rs. 59.95 crores to shares of listed companies and Rs. 65.83 lakhs to non-listed companies. The bank balance is Rs. 21.85 crores, and debentures amount to Rs. 8.37 crores. The fund reports a net profit of Rs. 7.08 crores in Mangsir, compared to a profit of Rs. 2.76 crores in the preceding month.

    NIC Asia Select-30 (NICSF):

    NIC Asia Select-30 (NICSF), a closed-end mutual fund with a 7-year maturity period, has unveiled the monthly Net Asset Value (NAV) report for Mangsir. Starting with a fund size of Rs. 1.25 Arba, the NAV stands at Rs. 10.92, up from Rs. 10.34 in the earlier month. The fund has invested Rs. 75.53 crores in listed shares and Rs. 1.22 Crore in non-listed shares. Additionally, it holds Rs. 15.50 crores in fixed deposits and Rs. 44.24 crores in the bank, with other assets worth Rs. 51.59 lakhs. The fund reports a loss of Rs. 68.40 lakhs in Mangsir, compared to a loss of Rs. 7.97 crores in the preceding month.

    NIC Asia Flexi Cap Fund (NICFC):

    The NAV report for NIC Asia Flexi Cap Fund (NICFC) has been unveiled for the month of Mangsir. With a fund size of Rs. 1.02 Arba, the NAV stands at Rs. 10.72, up from Rs. 10.18 in the previous month. The fund has invested Rs. 68.31 crore in listed shares, Rs. 1.17 crore in non-listed shares, and Rs. 10.70 crore in fixed deposits. Additionally, it holds Rs. 28.05 crores in the bank, with other assets worth Rs. 40.74 lakhs. The fund reports a net profit of Rs. 3.20 Crores in Mangsir, compared to a net loss of Rs. 2.3 Crores in the preceding month.

  • NIC Asia Laghubitta disbursed cash dividends directly to the bank accounts of its shareholders

    NIC Asia Laghubitta disbursed cash dividends directly to the bank accounts of its shareholders


    NIC Asia Laghubitta Bittiya Sanstha Limited (NICLBSL) has directly credited a 15% cash dividend to the bank accounts of its shareholders and encouraged them to dematerialize their shares.

    During the 6th Annual General Meeting held on the 6th of Poush, 2080, NICLBSL approved a 15% cash dividend for the fiscal year 2079/80. The board of directors, in a meeting on Kartik 1st, decided to disburse the entire dividend in cash. With the company’s paid-up capital standing at Rs. 1.73 Arba, the cash dividend amounts to just over Rs. 26.09 crores.

    In addition, NICLBSL has urged shareholders, especially those who haven’t updated their bank information within the Demat account, to dematerialize their shares.

    Moreover, eligible investors who have borrowed against the company’s shares before the book closure date are required to submit a No Objection Letter from their lending institution to receive the dividend.