Tag: Mangsir

  • Commercial and Development Banks’ Performance in Nepal for FY 2080/81

    Commercial and Development Banks’ Performance in Nepal for FY 2080/81


    Nepal Rastra Bank has recently published data outlining the financial performance of both commercial banks and development banks for the initial five months of the ongoing fiscal year 2080/81, concluding in Mangsir.

    Concerning commercial banks, the combined net profit for the first five months of the fiscal year 2080/81 in Nepal reached Rs. 28.36 Arba. Noteworthy is Nabil Bank’s leading position, having attained the highest net profit of Rs. 2.96 Arba. Global IME Bank closely followed with earnings of Rs. 2.73 Arba, securing the second position, while NIMB claimed the third spot with a net profit of Rs. 2.6 Arba during this period. In contrast, Agricultural Development Bank reported the lowest net profit among commercial banks at Rs. 12.5 Crores.

    Turning to development banks, despite three out of the 17 banks incurring losses, the overall sector in Nepal achieved a net profit of Rs. 1.9 Arba. Muktinath Bikas Bank exhibited outstanding performance with an impressive net profit of Rs. 45.93 crore, closely followed by Garima Bikas Bank with earnings of Rs. 38.67 crore. Conversely, Corporate Development Bank and Narayani Development Bank reported the lowest profits in the sector, with earnings of Rs. 1.09 Crores and Rs. 10.7 Lakhs, respectively. Notably, Saptakoshi, Salapa, and Excel Development Bank faced challenges as they experienced net losses during the same period.

  • All three mutual fund schemes managed by Kumari Capital have recorded an uptick in Net Asset Value (NAV) as of the end of the month of Mangsir.

    All three mutual fund schemes managed by Kumari Capital have recorded an uptick in Net Asset Value (NAV) as of the end of the month of Mangsir.


    Kumari Capital Limited has released the NAV reports for Kumari Equity Fund (KEF), Kumari Dhanabriddhi Yojana (KDBY), and Kumari Sunaulo Lagani Yojana (KSLY) for the month of Mangsir, 2080.

    1. Kumari Equity Fund (KEF):
      • Fund Size: Rs. 1 Arba
      • NAV: Rs. 9.99 (Mangsir) | Rs. 9.41 (Previous Month)
      • Investments: Rs. 73.65 crore in listed shares, Rs. 3.14 crore in public issues, right shares, and bonus shares
      • Other Holdings: Rs. 15.87 crores in bonds/debentures, Rs. 2 crores in fixed deposits
      • Bank Balance: Rs. 4.09 crore
      • Net Loss: Rs. 35.95 lakhs (Mangsir) | Rs. 6.14 crores (Previous Month)
    2. Kumari Dhanabriddhi Yojana (KDBY):
      • Fund Size: Rs. 1.22 Arba
      • NAV: Rs. 10.52 (Mangsir) | Rs. 9.93 (Previous Month)
      • Investments: Rs. 83.91 crore in listed shares, Rs. 3.66 crore in public issues
      • Other Holdings: Rs. 18 crore in fixed deposits
      • Bank Balance: Rs. 10.65 crores
      • Net Loss: Rs. 2.47 (Mangsir) | Rs. 7.24 crores (Previous Month)
    3. Kumari Sunaulo Lagani Yojana (KSLY):
      • Fund Size: Rs. 36.62 Crores
      • NAV: Rs. 10.67 (Mangsir) | Rs. 10.07 (Previous Month)
      • Investments: Rs. 27.47 crore in listed shares, Rs. 1.33 Crores in public issues
      • Bank Balance: Rs. 5.67 crores
      • Net Profit: Rs. 8.79 Lakh (Mangsir) | Net Loss of Rs. 2.13 crores (Previous Month)
  • 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.

  • 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.

  • 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.

  • Capital Gains Tax Soars Over 262% in Mangsir, Fueled by Short-Term Investors’ Surge

    Capital Gains Tax Soars Over 262% in Mangsir, Fueled by Short-Term Investors’ Surge


    In a notable development, the capital gains tax collected from the stock market has experienced a remarkable surge, witnessing a staggering 262% increase in the month of Mangsir compared to the preceding month of Kartik. The government’s revenue from capital gains tax saw a substantial rise from Rs 8.41 crore in Kartik to an impressive Rs 30.53 crore in Mangsir.

    A closer examination of the data reveals that the surge in capital gains tax during Mangsir was primarily driven by short-term investors, who contributed significantly to the overall increase. Short-term investors individually paid Rs 14.14 crore in Mangsir, a considerable jump from the Rs 4.60 crore paid in Kartik. Following suit, long-term investors also played a role in this surge, contributing the second-highest amount of profit tax, amounting to Rs 9.24 crore in Mangsir as opposed to the Rs 2.69 crore in Kartik. Despite being in third place, institutional investors made a noteworthy contribution of Rs 7.14 crore in Mangsir, a significant increase from their Rs 1.11 crore contribution in Kartik.

    The government imposes a tax on the profits derived from buying and selling shares in the secondary market, with individual investors subjected to a 7.5% tax rate and long-term transactions enjoying a reduced rate of 5%. This substantial increase in capital gains tax indicates a vibrant and robust performance in the stock market, with short-term investors taking the lead in contributing to the government’s revenue.

  • Himalayan Reinsurance Successfully Allocates IPO Shares to Nepalese Citizens Working Abroad

    Himalayan Reinsurance Successfully Allocates IPO Shares to Nepalese Citizens Working Abroad


    Himalayan Reinsurance Limited has successfully allocated IPO shares to Nepalese citizens working abroad, marking the completion of the allotment process on 24th Mangsir, 2080. The company, with a total issued capital of Rs. 10 Arba, allocated 30% or 3,00,00,000 unit shares for the public, including Nepalese citizens working abroad and the general public. In the specific category for Nepalese citizens working abroad, 10% or 30,00,000 unit shares were issued at a rate of Rs. 206 per share (Rs. 100 face value + Rs. 106 premium price) from December 4th to 18th Mangsir.

    The allotment module received a total of 32,056 applications for 4,338,650 units. Valid applications ranged from 10 to 170 units, with applicants in this range receiving their requested allocations in full. For those applying for 180 to 19,500 units, 170 units were allotted per applicant, and a lottery process determined an additional 10 units for 2,651 applicants.

    NMB Capital Limited served as the appointed issue manager, allowing applicants to place bids for a minimum of 10 units and a maximum of 300,000 units. Going forward, Himalayan Reinsurance Limited will issue the remaining 2,49,00,000 units for the general public from 27th Mangsir to 1st Poush, 2080, at a rate of Rs. 206 per share.

    The prominent promoters of Himalayan Reinsurance include key business conglomerates and significant financial institutions such as Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, Ramesh Corp, Shiv Shakti Group, Himalayan Infrastructure Fund Ltd., Shalimar Investment, Saffron CK Investments, Vaishnav Enterprises, Murarka Group, K L Dugar Group, M V Dugar Group, R H Group, M S Corp, IME Group, Prem Gurung and Group, Ashlesha Enterprises, Allied Continental, and Balaji Marbles.

    ICRA Nepal has reaffirmed an issuer rating of [ICRANP-IR] A- for Himalayan Reinsurance Limited, signifying an adequate level of safety regarding the timely servicing of financial obligations and indicating low credit risk for the company.

  • Himalayan Reinsurance Limited Announces IPO for 2.49 Million Units with Robust Promoter Support

    Himalayan Reinsurance Limited Announces IPO for 2.49 Million Units with Robust Promoter Support


    Himalayan Reinsurance Limited is set to launch its initial public offering (IPO) with the issuance of 2,49,00,000 unit shares starting from 27th Mangsir, 2080. The early closing date for this IPO is on the 1st Poush, with the possibility of extension up to the 11th Poush, 2080, if the subscription is not fully met. Out of the total 3,00,00,000 units, 10% (30,00,000 units) have been allocated to Nepalese citizens working abroad, 2% (6,00,000 units) for the company’s employees, and 5% (15,00,000 units) for mutual funds. The remaining 2,49,00,000 units are reserved for the general public, priced at Rs. 206 per share (Rs. 100 face value + Rs. 106 premium).

    NMB Capital Limited is designated as the issue manager, and interested investors can apply for a minimum of 10 units and a maximum of 3,00,000 units. ICRA Nepal has affirmed an issuer rating of [ICRANP-IR] A- to Himalayan Reinsurance Limited, indicating a satisfactory level of safety in terms of timely financial obligation servicing, signifying a low credit risk.

    Himalayan Reinsurance Limited, established in 2021, is Nepal’s second reinsurance company and operates in both the Life and Non-Life insurance sectors. The company’s IPO involves prominent promoters, including Golchha Group, Shanker Group, Infinity Holdings, Lucky Group, Ramesh Corp, Shiv Shakti Group, and other influential business entities. The IPO represents a significant milestone for the company and provides an opportunity for the public to participate in its growth.

     

  • Nabil Bank Announces Issuance of 9% Nabil Debenture 2087 with Rs. 3 Arba Target

    Nabil Bank Announces Issuance of 9% Nabil Debenture 2087 with Rs. 3 Arba Target


    Nabil Bank Limited (NABIL) has issued an offer letter announcing the issuance of 30,00,000 units of “9% Nabil Debenture 2087” to the general public. The debentures, featuring a maturity period of 7 years and a coupon rate of 9%, will be open for subscription from the 29th of Mangsir to the 3rd of Poush, 2080. In the event of undersubscription, the deadline may be extended until the 13th of Poush, 2080.

    The debentures, valued at Rs. 1000 per unit, will have a total issuance of 30 lakh units. Of this, 60%, equivalent to 18 lakh units, will be subscribed through private placement. The remaining 12 lakh units, amounting to Rs. 1.2 Arba, will be available for public issuance, with 5% of this allocation reserved for mutual funds. The total proceeds from the issuance are expected to reach Rs. 3 Arba.

    Kumari Capital Limited has been appointed as the issue manager for this debenture offering. Interested investors can apply for a minimum of 25 units and a maximum of 12,00,000 units.

    ICRA Nepal has reconfirmed the issuer rating of [ICRANP-IR] AA- – (pronounced ICRA NP issuer rating Double A minus) for Nabil Bank Limited. This rating indicates a high level of safety concerning the timely fulfillment of financial obligations, reflecting a very low credit risk associated with the bank.

  • Shangrila Development Bank Calls 19th AGM: Approves 5.263% Dividend and Addresses Key Agendas for Fiscal Year 2079/80

    Shangrila Development Bank Calls 19th AGM: Approves 5.263% Dividend and Addresses Key Agendas for Fiscal Year 2079/80


    Shangrila Development Bank Limited (SADBL) has announced its 19th Annual General Meeting (AGM), scheduled for the 24th day of Mangsir, 2080. The meeting is set to take place at Lainchaur Banquet in Kathmandu, commencing at 11 AM.

    One of the significant agendas for the AGM is the endorsement of a 5.263% dividend amounting to Rs. 17.19 crores for the fiscal year 2079/80. This decision was made during a board of directors meeting held on Kartik 03. The proposed dividend will be distributed based on the paid-up capital of the bank, which stands at Rs. 3.26 Arba. The distribution includes 5% bonus shares and 0.263% cash dividend for tax purposes, translating to slightly over Rs. 16.33 crores and a little over Rs. 85.98 lakhs, respectively.

    Additionally, the AGM will address the endorsement of the auditor’s report, covering Profit and Loss statements, financial reports, and cash flow reports for the fiscal year 2079/80. Plans for the appointment of an auditor for the fiscal year 2080/81 are also on the agenda. The meeting will also seek approval for the revision of the Articles of Association, as the issuance of bonus shares will lead to an increase in the paid-up capital.

    The book closure date for the proposed dividend and the AGM is set from the 11th to the 24th day of Mangsir, 2080. Shareholders recorded within this period are eligible for the dividend payout and are invited to attend the AGM.

  • Standard Chartered Bank Nepal Calls 37th AGM: Dividend Declaration, Financial Reports, and Amendments on the Agenda

    Standard Chartered Bank Nepal Calls 37th AGM: Dividend Declaration, Financial Reports, and Amendments on the Agenda


    Standard Chartered Bank Nepal Limited (SCB) has announced its 37th Annual General Meeting (AGM) scheduled for December 10, 2023, corresponding to the 24th day of Mangsir, 2080. The meeting is set to take place at the Army Officers Club in Bhadrakali, Kathmandu, starting at 1 PM, with the attendance book available for signatures from 8:00 AM onwards.

    One of the key items on the agenda is the endorsement of a 19% cash dividend (including tax), equivalent to 19 rupees, considering the bank’s paid-up capital of Rs. 9.42 Arba. Additionally, the AGM will seek approval for the annual report covering the financial year 2079/80.

    The meeting will also address the endorsement of the auditor’s report, encompassing Profit and Loss statements, balance sheets for the mid-2080 period, financial reports, and cash flow statements for the fiscal year 2079/80. Furthermore, the appointment of an auditor for the fiscal year 2080/81 will be discussed. The agenda extends to the approval of the revision of the Articles of Association, with provisions allowing the board of directors to make necessary changes if suggested by regulatory bodies or offices during the proposed amendment.

    The book closure date is set for the 7th day of Mangsir, 2080. Shareholders registered before this date are eligible for the dividend payout and are invited to attend the AGM. Participation requires the signing of the attendance book, accessible from 8:00 AM onward on the day of the meeting.