Sanima to propose upgrade to Category 'A' Prabhu Finance's profit up 40 pc
REPUBLICA
KATHMANDU, Nov 18: The board of directors of Sanima Bikas Bank Ltd are soon presenting a proposal to its shareholders for upgrading it to a Category ´A´ financial institution.
The Category ´B´ bank said in a statement issued Wednesday that it´s board would also propose shareholders at its upcoming annual general meeting to raise the required capital for the upgrade by a 1:1.5 rights issue. The rights issue will start only after the bank first distributes the five percent bonus shares it had announced after the closure of accounts of the previous fiscal year, it said.
The bank currently has a paid-up capital of Rs 768 million. Its unaudited records for the first quarter of the current fiscal year shows a net profit of Rs 17.9 million and it collected Rs 4.62 billion in deposits and lent Rs 4.48 billion during the period, the bank said.
Prabhu Finance´s profit up 40 pc
KATHMANDU, Nov 18: Prabhu Finance Co Ltd has declared a net profit of Rs 23.2 million for fiscal year 2008/09.
Addressing the company´s annual general meeting on Wednesday, its chairman Devi Bhattachan said this was a 40.49 percent rise on the net profits earned in fiscal year 2007/08.
The shareholders also approved the board of directors´ proposal for a 2:1 rights issue to raise paid-up capital to Rs 360 million and to distribute a cash dividend of 10 percent. The company collected Rs 2.5 billion in deposits and mobilized Rs 2.51 billion in loans and advances.
Business Advantage to advise Climate4Life
KATHMANDU, Nov 18: Advertising agency Business Advantage will partner WWF-backed Climate4Life, an awareness campaign on climate change in the Himalayas.
Issuing a statement Wednesday, the agency said it was now Climate4Life´s official campaign advisor and would be offering its services for free.
“Climate4Life has been an influential communication campaign intended to plug the awareness gap within the public and bring the voices of people from all arenas of life together on this urgent issue,” Business Advantage Director of Business Subu Shrestha was quoted in the statement.
Himalaya Herbal launches new shampoos and facewash
KATHMANDU, Nov 18: Himalaya Herbal Healthcare has unveiled ten new shampoos and facewash.
“The shampoo is enriched with 100 percent herbal ingredient as a foaming agent. "This type of technology has been used for the first time in the world," the India-based company said in a statement.
The new products are an anti-dandruff shampoo, anti-hairfall shampoo, gentle dailycare shampoo, soft and shine shampoo, extra moisturizing shampoo, purifying need facewash, oil balancing facewash, hydrating facewash, gentle daily facewash, and gentle exfoliating daily facewash.
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Sanima To Propose Upgrade To Category 'A' Prabhu Finance's Profit Up 40 Pc
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