Tag: Corporation

  • “Millennium Challenge Corporation (MCC) Project Implementation Starts”

    “Millennium Challenge Corporation (MCC) Project Implementation Starts”


     

    The much-anticipated Millennium Challenge Corporation (MCC) initiative is about to start on Wednesday. This project, spanning five years, will begin its implementation on August 30, 2023, which aligns with the 13th of August in the Nepali calendar. Today, the Ministry of Finance is organizing an event to officially announce this significant milestone.

    As per Article 7 of the agreement between the Nepali government and the American Cooperation Mission MCC, the effectiveness of the agreement depends on the date when MCC sends a letter to Nepal’s government. This letter confirms MCC’s readiness to carry out the agreement, provided that they are satisfied with the completion of necessary prerequisites.

     

  • “Nepal Oil Corporation Raises Petrol and Diesel Prices”

    “Nepal Oil Corporation Raises Petrol and Diesel Prices”


     

    Nepal Oil Corporation (NOC) recently raised the prices of petrol and diesel, causing a stir in the local market. The corporation’s board meeting, held on Tuesday, led to a unanimous decision to adjust prices. Diesel and kerosene prices surged by Rs. 14 per liter, while petrol increased by Rs. 5 per liter. As a result, consumers now pay Rs. 175 per liter for petrol and Rs. 164.5 per liter for diesel and kerosene, impacting the people significantly.

  • “Nepal Oil Corporation Raises Petroleum Prices, LP Gas Sees Reduction”

    “Nepal Oil Corporation Raises Petroleum Prices, LP Gas Sees Reduction”


     

    Recently, Nepal Oil Corporation raised the prices of petrol by Rs 9 and diesel and kerosene by Rs 7 due to increased prices from India. However, there’s some relief for consumers as the price of LP gas has been reduced by Rs 130 per cylinder. Currently, petrol is priced at Rs 170.50 per liter for the first class, Rs 172 for the second class, and Rs 173 for the third class.

     

  • Salt Trading Corporation Limited (STC) Reports Nearly Doubled Net Profit in Third-Quarter Results, Showing Strong Financial Performance

    Salt Trading Corporation Limited (STC) Reports Nearly Doubled Net Profit in Third-Quarter Results, Showing Strong Financial Performance


    Salt Trading Corporation Limited (STC) has recently published its third-quarter report for the ongoing fiscal year, revealing a nearly twofold increase in Net Profit, amounting to Rs. 3.71 crores. The company’s primary revenue source, sales, demonstrated a noteworthy growth of 17.44%, reaching Rs. 5.77 Arba. However, the selling expenses experienced a more significant surge of 21.65%, totaling Rs. 5.07 Arba during the third quarter of FY 2079/80.

    During the same period, STC observed a 12.51% rise in staff expenses and a 15.84% increase in administrative expenses compared to the corresponding quarter of FY 2078/79. On a positive note, the company’s Interest Expenses witnessed a substantial decrease of 35.44%, declining to Rs. 27.25 crores from Rs. 42.16 crores in the previous fiscal year’s third quarter. This reduction in interest expenses played a role in enhancing the company’s overall profitability.

    STC currently maintains a paid-up capital of Rs. 25.35 crores and possesses reserve and surplus funds amounting to Rs. 1.35 Arba. Additionally, the company holds property, plant, and equipment valued at Rs. 1.46 Arba, which remained relatively stable compared to the corresponding amount in the third quarter of the previous fiscal year.

    With an impressive Earnings per Share (EPS) ratio of Rs. 19.52 and a Net Worth of Rs. 632.89, STC exhibits positive financial indicators in its third-quarter report. The significant increase in Net Profit, coupled with improved revenue and reduced interest expenses, signifies the company’s strong performance and its commitment to maintaining a robust financial position.

  • Salt Trading Corporation Limited (STC) Reports Nearly Doubled Net Profit in Third-Quarter Results

    Salt Trading Corporation Limited (STC) Reports Nearly Doubled Net Profit in Third-Quarter Results


    Swabhimaan Laghubitta Bittiya Sanstha Limited (SMFBS) has recently distributed 20% bonus shares directly to the DEMAT accounts of its shareholders. The company encouraged its shareholders to dematerialize their shares in order to receive the bonus shares smoothly.

    During the 6th Annual General Meeting held on the 11th of Chaitra, the shareholders of SMFBS approved a dividend of 21.0526% amounting to Rs. 2.56 Crores for the fiscal year 2078/79. In a subsequent board of directors meeting on Magh 11, it was decided to distribute the dividend on the paid-up capital of Rs. 12.17 Crores. The proposed distribution plan included 20% bonus shares and 1.0526% cash dividend (for tax purposes).

    Following these decisions, the bonus shares have now been deposited directly to the DEMAT accounts of the shareholders. This simplifies the process for shareholders to receive and manage their bonus shares electronically, without the need for physical share certificates.

    By distributing the bonus shares to DEMAT accounts, SMFBS aims to facilitate a more efficient and secure method of shareholding for its investors. It encourages shareholders to embrace the dematerialization process and enjoy the benefits of holding their shares in electronic form.

    Overall, the distribution of 20% bonus shares to the DEMAT accounts of shareholders reflects SMFBS’s commitment to rewarding its investors and promoting the modernization of shareholding practices. It provides shareholders with the opportunity to conveniently manage their bonus shares and participate in the company’s growth and future prospects.

  • Siddhartha Premier Insurance’s 2.8 crore unit shares have been listed for trading on the NEPSE.

    Siddhartha Premier Insurance’s 2.8 crore unit shares have been listed for trading on the NEPSE.


    After a successful merger between Siddhartha Insurance Limited (SIL) and Premier Insurance Company (Nepal) Limited (PIC), 28,065,499 shares of Siddhartha Premier Insurance Limited (SPIL) were listed on NEPSE.

    On the 27th of Ashad, 2079, SIL and PIC inked a merger agreement. The corporation had agreed to a merger with a swap ratio of 1:1. SIL’s paid-up capital was Rs. 1,403,920,000. PIC’s paid-up capital was Rs. 1,402,629,900 at the time. The newly combined firm “Siddhartha Premier Insurance Ltd” has a total paid-up capital of Rs. 2.8 Arba.Following a successful merger, SIL and PIC began the joint transaction as Siddhartha Premier Insurance Limited (SPIL) on Falgun 17, 2079. As a result, the listed shares will begin trading under the ticker “SPIL.”