Bhansa Gas Hits The Market

Nov 30, -0001 0 1 minutes 23 seconds to read

…

Samsung Plans $ 700 M Investment In India

Nov 30, -0001 0 2 minutes 17 seconds to read

…

Trade Union, Ministry Reach Agreement

Nov 30, -0001 0 2 minutes 10 seconds to read

…

Committee For Rehabilitation Of Sick Industries

Nov 30, -0001 0 59 seconds to read

…

Credit Rating Regulations Early May

Nov 30, -0001 0 1 minutes 39 seconds to read

…

West Seti License Terminated

Nov 30, -0001 0 1 minutes 22 seconds to read

…

Basnet Elected NCC Chief

Nov 30, -0001 0 57 seconds to read

…

Ncell Upgrades To Next Generation Technology

Nov 30, -0001 0 49 seconds to read

…

Nepal, US Sign TIFA

Nov 30, -0001 0 1 minutes 50 seconds to read

…

SC Stays NRB Directives

Nov 30, -0001 0 37 seconds to read

…

New Leadership In FNCCI

Nov 30, -0001 0 44 seconds to read

…

Wealth Exchange: The Business Of Patience

Nov 30, -0001 0 14 minutes 12 seconds to read

…

Kist Bankâ€™s Social Service

Nov 30, -0001 0 11 minutes 26 seconds to read

…

˜We Are Looking Into Nepal's Hydro And Highways"

Nov 30, -0001 0 5 minutes 43 seconds to read

…

“We Are Innovators, Not Followers”

Nov 30, -0001 0 4 minutes 38 seconds to read

…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'title' => 'Bhansa Gas Hits The Market',
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			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">R</span>ijal Group has started selling Bhansa gas in the market beginning April 12. The cooking gas is produced by Rijal Group, which has made its name as the producer of poly-tanks. The gas is available in 14.2 kg at present. Nabin Rijal, the Managing Director of the company said that the gas will be available in the eastern region in the first phase. â€œGradually we will provide our product all over the country,â€ he assured.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Rijal claimed that the current production will be distributed in the areas of eastern region as there is scarcity of cooking gas there at present. The company has a filling capacity of 3,000 cylinders each day. However, it is currently filling only 1,000 cylinders per day. The plant has the capacity to store 200 metric tonnes of gas.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company will purchase gas from Nepal Oil Corporation and cylinders from Nepali as well as Indian producers. More than 70 people have received direct employment in the company.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company claimed that Bhansa gas meets all security and quality requirements. Rijal claimed Bhansa gas contains 14.2 kg of gas as specified on the cylinder. He added that the plant has installed state-of-the-art risk management mechanism to prevent accidents. The plant has a provision to store 500 thousand litres of water to extinguish fire in case of an emergency.<br />
	Â </div>
<div style="text-align: justify;">
	The company has planned to invest Rs 100 million for capacity expansion.</div>',
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			'title' => 'Samsung Plans $ 700 M Investment In India',
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			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14pt;">S</span><span style="font-size: 9.5pt;">amsung is investing US $ 500 million to 700 million in the current year in India. Jung Shoo Shin, President and CEO, Samsung South West Asia revealed this plan at the Samsung Forum 2011 held in New Delhi on April 13 and 14. Shin said IRs 3.5 billion will be invested to establish Channel Plant to increase production. He added, â€œTo achieve our target, we have prioritised the aggressive market strategy.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">During the forum, the company informed that it introduced 60 new products in the Indian market. The company introduced laptops, Galaxy Tab 10.1, Galaxy S 2, Talking Microwave, Blu-Ray Home Theatre and Four-Door Refrigerator among other products. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to realise a business worth US $ 4.9 billion from India alone. Shin said that India and other Southwest Asian countries did a business of US $ 3.5 billion in 2010. He speculated, â€œWe have expected the growth of all Samsung products by 40 per cent this year.â€ He added the products introduced in Indian market will be available in Nepal, Bangladesh and Sri Lanka around one-and-a-half month later. Samsung enjoys 51 per cent market share in the Asian countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">â€œWe have expected India to hold 5 per cent of the world market,â€ Shin said. Samsung India (Mobile and IT) Director, Ranjit Yadav said that his company is determined to meet the target.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Shin said there is no immediate plan to increase investment in Nepal, Bangladesh and Sri Lanka. He said, â€œThere is no political stability in Nepal, so, we canâ€™t say anything about increasing investment right now.â€ He added, â€œHowever, we know Nepal is a good market for Samsung products.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He revealed that Samsung is ready to contribute for Corporate Social Responsibility in Nepal if the political situation eases. He promised to make its strong presence in Nepal after political stability is attained.</span></div>',
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			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt; letter-spacing: -0.2pt;">T</span><span style="letter-spacing: -0.2pt;">he trade unions that were protesting for three weeks demanding a raise in the minimum wage finally called off their strike after the Ministry of Labour and Transport Management (MLTM) agreed on April 15 to increase the minimum wage of factory workers to Rs 6,400 from Rs 4,600. However, the business community has been objecting to this agreement as it negates another agreement already signed by the business community with the major national level trade unions. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) have already signed an agreement with the nationally recognised national level trade unions that are affiliated to the major political parties such as CPN-UML, Nepali Congress and Unified Maoists. The MLTM agreement is signed with new groups of trade unions affiliated to the Madhesi parties and a splinter group of the Maoists.&nbsp;The group that calls itself Inclusive Trade Union Federation had filed a case in the Supreme Court challenging the agreement that the business community had signed with the national level trade unions. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">According to the agreement signed by MLTM, the minimum wage has been increased by Rs 500, dearness allowance by Rs 1100 and the daily wage is increased to Rs 231 from Rs 190, said Purna Chandra Bhattarai, the Spokesperson at the MLTM. He added that the wage increase was agreed under the auspices of Minister of Labour and Transportation Management Top Bahadur Rayamajhi. Bhattarai also informed that the Inclusive Trade Union Federation has agreed to withdraw the case it had lodged in the SC. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Inclusive Trade Union Fedration had demanded the cancellation of 5th, 6th and 11th points of the agreement made on March 24 by the buisness community. It had also demanded 60 per cent increment in minimum wages and 40 per cent increase in allowances and to provide festival allowance to all workers. They also argued that the deduction of social security tax should start only after the implementation of Social Security Act. </span></div>
<div style="text-align: justify;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">However, the agreement with the Ministry is only for minimum wage. Badri Prasad Bajgain, the Coordinator of the splinter group of Maoist-affiliated All Nepal Trade Union Federation said that discussions on other points will be held later. </span></p>',
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			'title' => 'Committee For Rehabilitation Of Sick Industries',
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			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">E</span><span style="font-size: 9.5pt;">conomic and Labour Relation Committee (ELRC) under the Legislature Parliament has directed the formation of a high level body to rehabilitate the sick industrial units. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed body would identify, declare and rehabilitate the sick units and prepare long term policies for addressing industrial sickness. Dr Tilak Rawal, a Member of the ELRC said that the proposed body would help settle the problem of industrial sickness in a speedy manner and prepare laws to address such problem in the long term.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The proposed body, will have representatives from the Ministries of Industry, Finance, Land Reforms and Management and Labour and Transportation Management as well as the National Planning Commission, Nepal Rastra Bank, Federation of Nepalese Chambers of Commerce and Industries and Nepal Bankers Association. </span></div>',
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			'title' => 'Credit Rating Regulations Early May',
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			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="">S</span><span style="font-size: 9.5pt;">ecurities Board of Nepal (SEBON) has said that the Credit Rating Regulations would be implemented within early May. Dr Surbir Paudyal, the Chairman of SEBON, informed during a discussion programme held on April 5 that the regulation is expected to be approved by then incorporating suggestions received from the private sector.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Establishment of the credit rating agency would to bring a discipline in the countryâ€™s capital and money markets by providing the investors a fair idea about the risk involved in investing in the company or the investment instrument concerned. However, the participants at the interaction suggested SEBON to arrange for avoiding bias in the ratings.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed regulations have provisions that make it mandatory to have a credit rating of all the public issues of sizes exceeding Rs 100 million. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Basudev Adhikari, a Director of Nepal Rastra Bank suggested to lower this threshold to somewhere like Rs. 30 million as many issues in Nepal are lower than Rs. 100 million. â€œWhen the regional level development banks issue shares to the public, the issue size is less than Rs 100 million,â€ he said and asked for arranging that even such issues get rated.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Two companies have already applied to the board for license to operate as rating agency. </span></div>',
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			'title' => 'West Seti License Terminated',
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			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 10pt;">T</span><span style="font-size: 9.5pt;">he license of West Seti hydroelectricity project is now as good as terminated. A source at the Ministry of Energy said the license is being cancelled based on the reply sent by the license holder company West Seti Hydro Pvt Ltd.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Department of Electricity Development had sent a letter to the company on February 13 demanding clarification as to why the company had failed to work as per the agreement and arrange the necessary financial resources. In the clarification submitted in the last week of March, the company has expressed readiness to sit for talks for developing the project on Public Private Partnership (PPP) model.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Sunil Bahadur Malla, the Director General of the department said, â€œPPP is not the model we envisioned and agreed for West Seti. So, we have moved ahead for the cancellation of license.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The source at the ministry said the final decision on the cancellation of license and new ways to develop the project will be decided by the council of ministers. </span></div>',
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			'article_category_id' => '34',
			'title' => 'Basnet Elected NCC Chief',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13pt;">S</span>uresh Kumar Basnet has been elected unopposed as the President of Nepal Chamber of Commerce (NCC). It was decided by the the first meeting of the Executive Committee of the NCC elected by its 58th annual general meeting.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Lok Manya Golchha is elected Senior Vice-President while Gyanendra Lal Tuladhar is the first Vice-President and Rajendra Malla is Second Vice-President. Similalry, Kamalesh Kumar Agrawal is elected General Secretary and Nilakantha Chaulagain, Devendra Bhakta Shrestha, Santosh Pandey and Him Rawal as Secretaries. Likewise, Rajendra Aryal is elected Treasurer and Parshuram Dahal as Co Treasurer.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	Soon after taking office, President Basnet said the NCC membership of those found guilty in forgery of VAT bills will be annulled. However, he also called on the government to be careful in treating with the businessmen as large majority of them are honest in their dealings. He also suggested adopting multi VAT rate to avoid such problems in the future.</div>',
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			'title' => 'Ncell Upgrades To Next Generation Technology',
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			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 11pt; letter-spacing: 0.15pt;">N</span><span style="letter-spacing: 0.15pt;">cell, the largest private sector telecom operator has upgraded its network to next generation technology. According to a statement issued by the company, Ncell is the first service provider to use this technology among the TeliaSonera Group which has operations in 20 countries including the Scandinavia and Central Asia. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.05pt;">Pasi Koistinen, the CEO of Ncell said more than 250 experts worked on this project round the clock to upgrade the data of over four million customers. It took nine months to implement and move over to the new system, adds the company. The system was upgraded in the last week of March. The company claims that the new hardware capacity is equivalent to over 1,000 laptops. Five kilometres of cable was installed for the project. </span></div>
<div style="text-align: justify;">
	Â </div>',
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	<span style="font-size: 12pt;">N</span><span style="font-size: 9.5pt;">epal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC. The agreement is expected to open the possibility of preferential entry of Nepali products to the United States and reduce trade barriers.</span></p>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">TIFA has replaced the 1947 Bilateral Economic and Trade Agreement with the US. Kirk said that the agreement has established institutional framework for bilateral talks to enhance trade and investment between the two countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">After signing the agreement, the first joint meeting&nbsp;was held to discussed and identify market potential of Nepali goods in the US market as well at to expand American investment in Nepal. Nepal is the fourth South Asian country to sign TIFA with US. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The agreement has opened up the possibility to provide Nepali goods duty-free access to the American Market. Due to high tariff in the entry into US market, Nepali goods have failed to compete there. Though the US has committed to the World Trade Organisation provisions to provide duty-free access to 97 per cent of third world country goods, it has not implemented it yet.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Nepal had been enjoying the quota facility until 2005 in exporting garments to the US. After the US scrapped the quota system, garment export, diminished drastically. In 2010, Nepal imported goods worth US $ 28 million from the US. Major products imported from the US are aircraft, machineries and medical equipments. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC.',
			'sortorder' => '237',
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		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '313',
			'article_category_id' => '34',
			'title' => 'SC Stays NRB Directives',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">T</span>he Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank. In its order issued early April, the SC said the NRB directives of some nine months ago were found biased against the promoter shareholders.</p>
<div style="text-align: justify;">
	The stay order, was issued by the single bench of Justice Balram KC after hearing on a writ filed by Santu Shrestha, a promoter of Kumari Bank. The order has&nbsp;also asked NRB to submit the logic behind the directive.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank.',
			'sortorder' => '236',
			'image' => null,
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	(int) 10 => array(
		'Article' => array(
			'id' => '312',
			'article_category_id' => '34',
			'title' => 'New Leadership In FNCCI',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">S</span>uraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha,&nbsp;the other candidate.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	&nbsp;Similarly, Bhaskar Raj Rajkarnikar is elected Senior Vice President by the newly formed executive committee of the Federation. Rajkarnikar defeated Kumud Dugar by 37-24 votes. Rajkarnikar is from Vaidya Panel while Dugar represented Shrestha panel.</div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">Likewise, Bhawani Rana, Pradip Jung Pandey and Pashupati Murarka are elected to the post of other Vice Presidents. Rana and Murarka are from Vaidya panel while Pandey represents Shrestha panel. Rana is the first lady Vice President of FNCCI. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Suraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha, the other candidate.',
			'sortorder' => '235',
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	(int) 11 => array(
		'Article' => array(
			'id' => '311',
			'article_category_id' => '39',
			'title' => 'Wealth Exchange: The Business Of Patience',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify; text-indent: 0in;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/sanandan singh.jpg" style="width: 138px; height: 176px;" vspace="1" /><span style="color: rgb(178, 34, 34);">Sanandan Singh</span></span></b></div>
<div style="text-align: justify; text-indent: 0in;">
	<span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt; line-height: 120%;">CEO</span></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt;">WEX</span></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);">â€œWe will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€</span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);"><br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 12.5pt;">T</span><span style="font-size: 9.5pt;">he commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago. Registered in March 2010, WEX began its operations from November 2010 as a spot exchange. It is the first spot exchange in Nepal where the number of futures exchanges is three.&nbsp;Sanandan Singh, the CEO of WEX said that the company entered the market at the right time. â€œThis is our soft launching and the big one is yet to comeâ€™â€™, he added. The company is preparing to formally inaugurate its business amid a special function. Singh believes that something substantial like a good profit is required for an entry with a bang. â€œWe are waiting for doing right thing at the right time,â€ he said.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">In the embryonic market that has just three commodities exchanges, WEX entered as the fourth company with a difference. Singh said that the Meta Trader 4 distinguishes the company from the rest. â€œMeta Trader 4 is a strong marketing tool for us,â€ Singh remarked. He explained the reasons for choosing the particular software as, â€œThere is competition in the market and competitors have their own client and niche market. We wanted to introduce a product that is world renowned. And the software has helped to attract business for us.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX specialises in gold and silver. However, the company has the vision to expand its services further with various commodities. There are around 30 commodities traded across the globe. At WEX, gold and silver is virtually traded online with a margin, however, the company claims it can make physical delivery of gold and silver if the clients demand, subject to government regulation. â€œWe have determined Rs 70,000&nbsp;as the margin for a kilogram of gold which is a standard lot. For silver, the standard lot is 30 kg.â€ Recently, due to the demand of the investors, mini lot of 100 grams of gold has been introduced too.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">About choosing gold and silver for trading, Singh said, â€œIn Nepal, awareness among the investors about commodities trading may further facilitate the investment climate and other products can be included in the long run. However, gold and silver are the most traded items in the world and known by all.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Trading at WEX does not require bags of solid gold with you. Just a few clicks online and the job is done â€“ thanks to the automated system. Clients make deposits online through the exchangeâ€™s banking partner Bank of Kathmandu and the amount is later transferred into the trading platform. Buying and selling to profits and losses are all counted and transferred online.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">There is a unique chain of communication between the company and the clients. The chain includes a clearing member which is in direct contact with WEX and that is followed by brokers and finally the clients. It is actually the brokers who make clients. The organisational communication adopted is vertical. Singh said, â€œWe go down the line while they (clients and members) come up the line. Customers are not only of the brokers but also of the exchange.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX takes membership fees from clearing members and that is passed onto the brokers who may <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1(1).jpg" style="width: 324px; height: 196px;" vspace="1" />pass this on to their customers. Singh said that the software is the most expensive part of operation of an exchange. He reveals that the company has already reached the breakeven point if the cost of software is excluded. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Though the company is target oriented, Singh says there are no plans to make millions of rupees within a few months. Stating his companyâ€™s growth strategy he says, â€œWe will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€&nbsp;Singhâ€™s principle is â€˜Slow and steady wins the race.â€™ He said that the team is dedicated on strengthening the foundation. He claimed, â€œAfter laying the foundation stone, we have already risen above the ground. We are receiving feedback and we welcome criticism because it is a form of recognition too. The suggestion and feedback requested from us by the Securities Board of Nepal (SEBON) is an example of that.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has marketed itself saying, â€˜A majority of our clients will be in profit, provided they conduct a proper technical and fundamental analysis.â€™ Singh says the company wonâ€™t have any problem even if 100 per cent of its clients benefit. He defies the rule â€˜someone has to lose when someone wins.â€™ Normally when a client makes profit, the exchange would be in loss. He clarifies, â€œWe have managed the risk. Our philosophy is that clients may profit as much as they can. We are competent enough to pay them.â€ Singh said that the earning of the exchange is nominal. While 70 per cent of the commission of a standard lot is passed on to the brokers, 30 per cent is shared by the clearing member and the exchange.&nbsp;Currently, WEXâ€™s objective is high turnover in low margin. The company has set the target of minimum trading of standard lots for a month.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Singh presently sees limited encouragement among clients. â€œBut we hope it will get better with time,â€ he said. According to Singh, though people have the money to invest they are reluctant to come into this sector due to their lack of knowledge about it. For that, the company has tied with Commodities Trading Institute for WEX certified courses for potential as well as existing clients and brokers. The company hopes to gain substantial momentum after some idea about this market is developed among the potential clients.&nbsp;When the number of brokers increases, the company receives software charge and membership fees which are the income of the company. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Currently, there are around 100 clients and 16 brokers of WEX. The company has chosen to increase the clients by spreading knowledge about the commodities market and skills to do trading. Until now, the company has given orientation classes free of cost to 100 - 150 potential clients. The company considers this as an act of Corporate Social Responsibility even before starting to make any profits.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to invest further in Corporate Social Responsibility (CSR) after it makes a strong foothold in the market. For now, the company likes to call its orientation classes and its responsible operation as CSR activities.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company believes in good governance, transparency, decentralisation and system-run mechanism. Singh says, â€œWe donâ€™t believe in one man decision. It has to be a group decision always.â€ High moral ethics, integrity, discipline etc are must for anyone in the company. Currently, there are 12 staff members in WEX. â€œOur philosophy is that everyone in the office must have high degree of ethical standards, honesty and competency. â€˜Salary is no bar for deserving candidatesâ€™ is our philosophy of human resource management and we guarantee a highly motivating career.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX does not feel any competition in the real sense. According to Singh, there is competition with three other exchanges but not in service, commission and platform. â€œWe have monopoly as regards Meta Trader 4 and our efficient and professional standards,â€ he added.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Being a new entrant in the market, WEX has some challenges to defeat.&nbsp;Preconceived ideas that everyone will lose in the commodities trading has become the biggest challenge. â€œBrokers feel comfortable with old clients. They bargain unnaturally,â€ said Singh, â€œLimited knowledge and long term strategy are the main challenges we are facing now.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company believes steady growth is the best option for now considering the situation of the country. It is planning to expand its services beyond the Kathmandu Valley.&nbsp;Singh informed that there are already quite a few clients outside the capital. Therefore, expansion into major hubs like Biratnagar, Birgunj, Pokhara, Nepalgunj, Janakpur, Birtamod and Bhairahawa where the company sees immense potential, is in the pipeline. Similarly, WEX is focusing on increasing the number of brokers to 50 and clients to 1,000 in the near future. â€œWe are quality focused. We look for clients who can spare their surplus money, but we donâ€™t advise over stretching their expenses and over trading in the commodities market,â€ he explained.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The commodities market lacks the presence of regulatory authority and WEX strongly feels its requirement. Though there are directives, an Act is yet to be formulated. SEBON is proposed as the regulator by the Ministry of Finance. Singh said that an external regulator is needed for check and balance so that regular inspections are implemented and corrective measures are enacted by the exchanges as required by the regulator from time to time. Singh feels that the regulator can regulate the exchange companies and also help in developing the expertise of national and international standard. This sector is yet to be explored fully by the investors as opportunities are unlimited.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Though registered as a private limited company, WEX is working and looking forward to going public in the near future. It aims at being the premier commodities exchange in the country, managed by a highly professional and dedicated team for contributing towards the growth of this sector by disseminating knowledge and investment opportunities to investors.&nbsp;&nbsp; </span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">WEX is confident that the commodities market will grow tremendously and become popular in the days to come that open the new vista of investment and speculative trading to people in general. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	SWOT Analysis</div>
<div style="text-align: justify;">
	Strengths:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; First Spot exchange in Nepal specialising in Gold and Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Huge capability to facilitate the most complex and demanding trading. The WEX Platform offers trading 24 hours a day throughout the trading week which is more than any other exchange in the country</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; The liquidity of trading is largest and most diverse. Ability to execute large purchases and sales orders quickly and efficiently</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; WEX market is fair, transparent and anonymous and its electronic trading platform offers the same opportunity for all participants</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Good corporate governance with experienced team</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; First commodity exchange to introduce mobile trading</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Contract does not expire in SPOT exchange unlike&nbsp;in future exchange</div>
<div style="text-align: justify;">
	&nbsp;Weaknesses:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Specialisation in two commodities.&nbsp;Unable to provide service to investors having interest in other commodities</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Teething problems as WEX is in its initial stage</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Unable to expand its potentials in the absence of a government regulator</div>
<div style="text-align: justify;">
	Opportunities:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Huge market potential</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; By-product of commodities market is not practised</div>
<div style="text-align: justify;">
	Threats:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Unstable political situation</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inadequate knowledge of commodities market</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Quick Facts</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Incorporated&nbsp;at Company Registrar of Nepal on 18 March 2010</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Came into&nbsp;operation from 11 Nov 2010</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Number of Trading Members: 17</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Number of active traders: More&nbsp;than 300</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Strategic Bank: Bank of Kathmandu</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Traded Commodities: Gold and Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Minimum Trading Size: 100 gm Gold and 5 Kg Silver at Rs 7,000 Margin</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Trading Platform: Meta Trader 4</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Spread (difference of bid and ask): 20 on Gold and 1 on Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Coverage outside the valley : 20 per cent</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction (standard lot): approximately 1,250</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction by number: 1,860</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction by individual investor: approx 6</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual&nbsp;trading member target: 30</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual&nbsp;target of active investors: 2,000</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual target coverage outside Kathmandu Valley: 35 per cent of total</div>
<div style="text-align: justify;">
	<i><span style="font-size: 8pt;">Source</span></i><span style="font-size: 8pt;">: WEX</span></div>
<div style="text-align: justify;">
	Â </div>',
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			'id' => '310',
			'article_category_id' => '39',
			'title' => 'Kist Bankâ€™s Social Service',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus.jpg" style="width: 204px; height: 183px;" vspace="1" />W</span>ith a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services. Kamal Prasad Gnawali, the Managing Director of the bank says, â€œKist Bank stands for customersâ€™ convenience and support. We always look forward to serve them by understanding their needs and designing tailored products.â€</div>
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	Â </div>
<div style="text-align: justify;">
	Kist Merchant Banking and Finance was initially incorporated as a â€˜Câ€™ category financial institution in 2003 for undertaking limited banking activities. It started commercial banking activities as Kist Bank Limited from 7 May 2009. Starting with seven employees in 2003, it has 582 people in its ranks today. The bank has deposits to the tune of Rs 16 billion and loans of Rs 13 billion in current fiscal year 2010-11. In the last fiscal year 2009-10, the deposits and loans stood at Rs 15 billion and Rs 12.5 billion respectively.</div>
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<div style="text-align: justify;">
	The bank is driven by values of efficiency in operations, integrity and a strong focus on catering the needs of every customer by offering high quality and cost effective products and services. The management team along with its dedicated employees operate in a highly automated environment. It has put in substantial efforts and investments in acquiring the best technologies available to build necessary banking infrastructure. The bankâ€™s superior information technology and communication systems enable delivery of prompt and quality services.</div>
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<div style="text-align: justify;">
	<span style="letter-spacing: 0.1pt;">Due to its wide network of branches, a sizeable population has access to its banking services where most value added services come free of cost. Gnawali says that the transition to a full-fledged bank in 2009 was a major turning point in the companyâ€™s history. â€œIt was a challenge in terms of manpower, market perception and expectations,â€ he admits.&nbsp;Having pioneered many products in Nepalâ€™s financial sector, the bank these days does not pursue matters aggressively. It rather believes in a controlled business approach and focuses on individuals and SMEs as its clients.</span></div>
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<div style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">A young bank with its employees averaging 26 years of age, it believes in a democratic style of working. The staff equation is well taken care of by maintaining a good balance between senior and junior employees. The human resource department at the bank conducts training every week to increase the efficiency of its workforce. Kist Bank believes in having a participative management and ensures easy access and direct approach among its employees. Gnawali was the First Runner Up at the prestigious MAN Awards 2010 under â€˜Manager of the Yearâ€™ category. â€œAny award that I receive is because of the bank and not for me as an individual,â€ he says giving credit for his personal success to the bankâ€™s management team. </span></div>
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<div style="text-align: justify;">
	<strong>Commitment to CSR</strong></div>
<div style="text-align: justify;">
	For Kist Bank, corporate social responsibility (CSR) has always been a top agenda. It means embracing responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and the public at large. Gnawali explains, â€œIt helps us manage our business responsibly and sensibly for long term sustainable banking.â€</div>
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<div style="text-align: justify;">
	<strong>Some CSR commitments of the bank include:</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Cash Assistance to Cyclist Puskar Shah</span></b></div>
<div style="text-align: justify;">
	The bank honoured cyclist Puskar Shah as its goodwill ambassador and assisted him during his world cycling tour of 150 countries. It also provided a cash assistance of Rs 442,417 to Shah for his expedition to Mount Everest. Shah took to the summit the national flags of the countries he visiteda as well as a banner with the Kist Bankâ€™s logo.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Society of Economic Journalists (SEJON)</span></b></div>
<div style="text-align: justify;">
	The bank has provided a cash assistance of Rs 500,000 to SEJON to establish a revolving fund to provide annual award to three economic journalists. The bank hopes that this award will be an additional incentive to the journalists.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Traffic Awareness Programme</span></b></div>
<div style="text-align: justify;">
	With the objective to raise the awareness among the commuters and drivers of public transport vehicles in urban areas, the bank has provided an assistance of Rs 240,000 to create 20,000 traffic awareness stickers. These stickers were pasted on public vehicles in coordination with Namuna Sadan and Media Agency.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Cataract Surgery</span></b></div>
<div style="text-align: justify;">
	The bank provided Rs 12,500 for cataract surgery of five ophthalmic patients in an eye camp organised with the initiation of Reyukai Masunga Eye Hospital, Banepa.</div>
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	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Gaurishankar Campus</span></b></div>
<div style="text-align: justify;">
	The bank provided cash and kind equivalent to Rs 84,000 for an enlightening discourse programme on Bhagawat Geeta aimed at collecting funds to convert Gaurishankar College at Charikot, Dolakha into a University.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Street Lights</span></b></div>
<div style="text-align: justify;">
	Four street lights worth Rs 24,000 were installed at main road in Kalanki, Kathmandu in coordination with LOYUS, an NGO.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">River Conservation and Tree Plantation</span></b></div>
<div style="text-align: justify;">
	Under the initiation of National Nature Conservation Fund, the bank provided Rs 15,000 for planting 100,000 trees on the banks of Bagmati River.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Children Memorial Monument and Garden</span></b></div>
<div style="text-align: justify;">
	A financial assistance of Rs 200,000 was made to Vishwo Shanti Prachar Manch, an NGO, for the construction of children memorial monument and garden near the entrance of Tribhuvan International Airport.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Plans</span></b></div>
<div style="text-align: justify;">
	The bank says it has always been giving prime focus on physical infrastructure and human resource development. It has laid emphasis on acquiring state-of-the-art information technology to ensure the most secure transaction and remain competitive. It has enhanced its distribution outlet to reach un-banked areas and serve people with banking services.</div>
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<div style="text-align: justify;">
	A few key plans of the bank are:</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Having acquired VISAâ€™s Associate Membership in 2011, the bank is set to launch VISA accredited credit and debit cards this year. Presently, the bank has 150,000 debit card holders on its rolls.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Last year, the company focused on expansion and building internal strength. Situation permitting and with a favourable environment, the bankâ€™s dream this year is to turn multinational and extend its banking services to countries that have sizeable Nepali Diaspora.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Increase customer base to 500,000 from the present 300,000.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank currently provides services to customers from its own buildings in Anamnagar, Birtamod, Damak, Biratnagar and Narayangarh. It wants to have own bank buildings at all possible branch locations. A multi-storey building which will house the bankâ€™s main branch and head office is presently under construction at Anamnagar, Kathmandu.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Too many players in the market have resulted in quality manpower crunch. To counter this, the bank plans to develop a competitive workforce to undertake higher responsibilities. Its training and development department bears the responsibility to train qualified individuals hired by the bank.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Expand its remittance business making it accessible to a larger section of the population.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Develop and launch innovative and customer-friendly products to meet the needs of people deprived of banking services. The bank has a research and development wing that carries out research effecting this direction.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Support the investors to start large infrastructure development projects in the country.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank also plans to promote micro finance to develop self sustainable enterprises and make individuals self-reliant.</div>
<div style="text-align: justify;">
	<strong>Vision and Mission</strong></div>
<div style="text-align: justify;">
	Kist Bankâ€™s vision is to become the best bank based on operational excellence and superior financial performance. It remains open to the idea of a merger. The bank aspires to become a leading bank by providing best quality financial products and services to its customers, enhancing shareholders value, creating excellent growth opportunity for its employees and contributing to the economic prosperity of the country.&nbsp;</div>
<div style="text-align: justify;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal prasad.jpg" style="width: 140px; height: 186px;" vspace="1" />Kamal Prasad Gnawali</span></b></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<span style="font-size: 7pt; line-height: 120%;">Managing Director</span></div>
<div style="text-align: justify;">
	<span style="font-size: 7pt; line-height: 115%;">Kist Bank</span></div>
<div style="text-align: justify;">
	â€œThe transition to a full-fledged bank in 2009 was a major turning point in the companyâ€™s history. It was a challenge in terms of manpower, market perception and expectations,â€</div>
<div style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);">Kist Bank Briefs</span></div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The authorised capital is Rs 5 billion and the issued and paid-up capital Rs 2 billion.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> 60 per cent of the paid-up capital is held by the promoters and remaining 40 per cent by the general public.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The shares of the bank are listed at Nepal Stock Exchange Limited (NEPSE) as â€˜Aâ€™ category shares.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span><span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The seven-member Board of Directors (BOD) has three Directors representing the promoters, two representing the general public and one representing the Professional Director.</span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	SWOT Analysis</div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<b><span style="">Strengths: </span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Young and career-oriented workforce</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Good relations between Promoters and Directors</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Quick implementation of ideas</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> A sound infrastructure</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Impressive range of products</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Promotersâ€™ trust in the institution</div>
<div style="text-align: justify;">
	<b><span style="">Weaknesses:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">* </span>Comparatively new entrant in the market</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Limited exposure in corporate banking</div>
<div style="text-align: justify;">
	<b><span style="">Opportunities:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Foray into corporate banking</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Further business expansion and development</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Build on existing infrastructure</div>
<div style="text-align: justify;">
	<b><span style="">Threats:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Mushrooming competitors</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Political instability</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Unhealthy competition</div>',
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			'description' => 'With a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '309',
			'article_category_id' => '31',
			'title' => '˜We Are Looking Into Nepal's Hydro And Highways"',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;"><img align="left" alt="" border="2" height="296" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img6.jpg" style="width: 203px; height: 296px;margin:10px;padding:10px;" vspace="1" width="203" />Atul Punj</span><span style="font-size: 12pt;">, the Chairman of Punj Llyod Ltd“ a diversified international conglomerate offering EPC services in Energy and Infrastructure “ was in Kathmandu recently on the invitation of Entrepreneurs Organisation. A US$ 2.4 billion turnover company, Punj Llyod Group has built projects across the world and continues to provide integrated design, engineering, procurement, construction (EPC) and project management services for the energy, infrastructure and petrochemical sectors. In an interview with New Business Age, Punj talked about his company's possibilities of working in Nepal. Excerpts:<br />
	<br />
	</span></div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>What's the purpose of your visit to Nepal this time?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	This is actually my first visit to Kathmandu. I was invited here by the Entrepreneurs™ Organisation to speak on entrepreneurship. It also gives me an opportunity to explore and get a feel of the city and the country and see what's happening.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong>Could you please elaborate on Punj Lloyd's business activities?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We cover everything from urban infrastructure to expressways. We operate through our twenty international offices and entities across the Middle East, the Caspian, Asia Pacific, Africa, South Asia, China and Europe. The ideology is that we move into a country and localise operations there as quickly as possible. We make sure that we are seen as a local company rather than a foreign entity that has come in only to explore business opportunities. So, we invest a lot of time and money in training people and imparting specialised skills.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Our Group's three brands - Punj Lloyd and PL Engineering headquartered in India and Sembawang Engineers &amp; Constructors in Singapore, each with their own subsidiaries and joint ventures, converge to offer complementary services, rich experiences and the best practices from across the globe. We offer EPC solutions across a wide spectrum of businesses: pipelines, tanks, terminals, refineries, power plants, airports and rail transit systems among others.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>What are the key strengths of your group? What sets you apart from your competitors?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	The key strengths would be our varied experience and rich knowledge of local conditions. Ours is a 23,000 strong skilled multicultural workforce that has the experience of working in different geographies and diverse terrain. We set high standards of health, safety, quality and environment and have received accolades and recognitions from industry bodies and clients.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-indent: 0in; text-align: justify;">
	We have the ability to manage operations in diverse industries and economies, long-term relationships with world-class clients and mobilising financial resources. The huge fleet of equipment Punj Lloyd owns gives the company an edge over its competitors.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>Punj Lloyd is said to be committed to the cause of community enrichment. How do you go about achieving that?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	In our pursuit of business, we endeavour to uplift the communities where we operate. Social and environmental concerns are closely interwoven in Punj Lloyd Group's core practices and decision making. From providing education to many underprivileged children through its own school to enriching the lives of thousands of workers at its sites, we are committed to the cause of community enhancement.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>A number of construction and infrastructure related projects in Nepal are being talked about of late. What has kept Punj Lloyd from getting involved so far?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	I think the major reason for this has been the political instability here. Nobody knows which direction the country is heading towards. Hopefully, things will settle down sooner or later. The opportunities are definitely very large particularly in the hydropower area. Highway is another huge opportunity. We will look into it and see how we can take advantage of these.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>How do you view the current business environment of Nepal? What areas of feasible business opportunities do you see for your company here?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	<span style="letter-spacing: 0.1pt;">I think the opportunities for businesses in this country will be largely based on political stability. Of course, there is a lot of investment and capital required to get the economy back to a position of strength. There is immense hydroelectricity potential in Nepal. The opportunity to produce and export power to India and other countries in the region is enormous. So, the relevance of hydropower is quite natural to us. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>It might interest you to know that most projects in Nepal face local opposition.&nbsp;How do you handle such situation in locations that you have been working?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Well, it's no different in India either. Any vibrant democracy which is developing has the same people power issue. Building roads, land acquisition etc are critical issues to deal with. It's important to talk to the local population and make them understand the benefits that the project will bring to them. For instance, you can build schools and primary healthcare centres for them and also offer employment.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	I think communities do understand that projects can make a contribution towards their development. We have learnt this over the years and therefore, we have an excellent track record for successful completion of projects within tight schedules. This lends credibility to the Group and encourages clients to trust it with repeat orders.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>Are you looking at possibilities of partnering the Chaudhary Group here? Is there a certain time period you are looking at to commence operations in Nepal?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Everything is open right now. We are looking at opportunities depending on how they unfurl. We hope to start sometime within this year depending on how soon we can formalise things.&nbsp; <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.15pt;"><br />
	</span></div>
<div style="text-align: justify;">
	 </div>',
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			'created' => '2011-05-31',
			'modified' => '2012-10-31',
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			'description' => 'Atul Punj, the Chairman of Punj Llyod Ltd “a diversified international conglomerate offering EPC services in Energy and Infrastructure“was in Kathmandu recently on the invitation of Entrepreneurs Organization.',
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	(int) 14 => array(
		'Article' => array(
			'id' => '308',
			'article_category_id' => '31',
			'title' => '“We Are Innovators, Not Followers”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;"><img align="left" alt="" border="2" height="259" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img5.jpg" style="width: 259px; height: 259px;margin:10px;padding:10px;" vspace="1" width="259" />Bernard Lee Meng Sum</span><span style="font-size: 12pt;"> is the Deputy General Manager (International Marketing and Investment) of Demak Motors, a two wheeler manufacturer based in Malaysia. He was in Kathmandu recently to launch two motorcycles models of his company through its dealer Agni Incorporated Pvt Ltd. Demak Motors won the Golden Bull Award 2010 for being one of the 100 outstanding SMEs in Malaysia. The company plans to penetrate&nbsp;the East and South East Asian markets in the foreseeable future. In an interview with New Business Age, Meng Sum shared his ideas on Demak Motors market prospects in Nepal. Excerpts:</span></div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong>Why is Demak Motors attracted to Nepal ?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We have been keeping track of the market potentials for bikes in Nepal. Quite naturally, we see a very good growth here. We would like to be the number one in the Nepali market as a Malaysian brand. This year, our corporate strategy is to expand in the East Asian market and Nepal. We have tied up with a very good company, Agni Incorporated, to penetrate the potential market here.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>You have launched two models of Demak bikes. Is there any particular reason for choosing these two models over others?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Our market study revealed that dirt bikes and cruisers have large potential in Nepal. As you can currently see, the Nepali market is monopolised by street bikes. We surely are going to introduce more models with time. These will include scooters, electric motorcycles and hybrid scooters which have not been seen in the Nepali market as yet.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Who do you see as major competitors for your bikes here?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We don't see anyone as a competitor right now. We are the innovators rather than the followers. We don't consider ourselves as competing against Indian brands. But we will position ourselves as the market leader in the dirt bikes and cruisers segment of the market.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>How is Demak doing in the Philippines where it entered recently?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We are doing quite well in Philippines right now. The Philippines market is completely different than Nepal in terms of economy and market environment. We are currently the number five brand in Philippines but we will rise to number four next year.<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>What sort of growth do you expect in Nepal business?&nbsp;</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	It looks a fantastic market to us. Nepal is located between China and India who have several automobile giants in their ranks. As a Malaysian brand, we are proud to have entered the Nepali market. It takes an extensive effort for us to be here. We hope it will be a success story in the coming days for the entire East Asian market.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Which segment of the market are you targeting to sell your bikes?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Well, it is a huge market. We are offering products that are different, classic and nostalgic. We are targeting college boys and teenagers in the age range of 20 to 28 years.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>What is the sales target you have in mind for the first year in Nepal?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	For the first year, we are looking at selling 2,000 units. In the consequent years, we plan to grow at 10 percent on a yearly basis.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Your company won the Golden Bull Award 2010 for being one of the 100 outstanding SMEs. What kind of strategies did the company adopt to find such success within seven years of operation?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We believe in our marketing, our products and the wonderful teamwork that we have in our company. The Chinese philosophy which we practice in Malaysia is: there is no mountain that we cannot conquer as long as we put hard work and dedication to our assignments.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>You are establishing a production plant in Sri Lanka. Can you tell us about it?</strong></div>
<p style="text-align: justify;">
	<span style="font-size: 12px;"><span style="line-height: 115%;">Sri Lanka will be the export hub for us to penetrate the East Asian and South Asian markets.&nbsp;We chose Sri Lanka because this is the shortest distance in terms of distribution of our products to Nepal, Bhutan and our next target market India. We see potential in India for our dirt bikes, specially our scooters and electrical bikes.</span><br />
	</span></p>',
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			'description' => 'Bernard Lee Meng Sum  is the Deputy General Manager (International Marketing and Investment) of Demak Motors, a two wheeler manufacturer based in Malaysia.',
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			'article_category_id' => '34',
			'title' => 'Bhansa Gas Hits The Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">R</span>ijal Group has started selling Bhansa gas in the market beginning April 12. The cooking gas is produced by Rijal Group, which has made its name as the producer of poly-tanks. The gas is available in 14.2 kg at present. Nabin Rijal, the Managing Director of the company said that the gas will be available in the eastern region in the first phase. â€œGradually we will provide our product all over the country,â€ he assured.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Rijal claimed that the current production will be distributed in the areas of eastern region as there is scarcity of cooking gas there at present. The company has a filling capacity of 3,000 cylinders each day. However, it is currently filling only 1,000 cylinders per day. The plant has the capacity to store 200 metric tonnes of gas.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company will purchase gas from Nepal Oil Corporation and cylinders from Nepali as well as Indian producers. More than 70 people have received direct employment in the company.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company claimed that Bhansa gas meets all security and quality requirements. Rijal claimed Bhansa gas contains 14.2 kg of gas as specified on the cylinder. He added that the plant has installed state-of-the-art risk management mechanism to prevent accidents. The plant has a provision to store 500 thousand litres of water to extinguish fire in case of an emergency.<br />
	Â </div>
<div style="text-align: justify;">
	The company has planned to invest Rs 100 million for capacity expansion.</div>',
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			'title' => 'Samsung Plans $ 700 M Investment In India',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14pt;">S</span><span style="font-size: 9.5pt;">amsung is investing US $ 500 million to 700 million in the current year in India. Jung Shoo Shin, President and CEO, Samsung South West Asia revealed this plan at the Samsung Forum 2011 held in New Delhi on April 13 and 14. Shin said IRs 3.5 billion will be invested to establish Channel Plant to increase production. He added, â€œTo achieve our target, we have prioritised the aggressive market strategy.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">During the forum, the company informed that it introduced 60 new products in the Indian market. The company introduced laptops, Galaxy Tab 10.1, Galaxy S 2, Talking Microwave, Blu-Ray Home Theatre and Four-Door Refrigerator among other products. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to realise a business worth US $ 4.9 billion from India alone. Shin said that India and other Southwest Asian countries did a business of US $ 3.5 billion in 2010. He speculated, â€œWe have expected the growth of all Samsung products by 40 per cent this year.â€ He added the products introduced in Indian market will be available in Nepal, Bangladesh and Sri Lanka around one-and-a-half month later. Samsung enjoys 51 per cent market share in the Asian countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">â€œWe have expected India to hold 5 per cent of the world market,â€ Shin said. Samsung India (Mobile and IT) Director, Ranjit Yadav said that his company is determined to meet the target.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Shin said there is no immediate plan to increase investment in Nepal, Bangladesh and Sri Lanka. He said, â€œThere is no political stability in Nepal, so, we canâ€™t say anything about increasing investment right now.â€ He added, â€œHowever, we know Nepal is a good market for Samsung products.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He revealed that Samsung is ready to contribute for Corporate Social Responsibility in Nepal if the political situation eases. He promised to make its strong presence in Nepal after political stability is attained.</span></div>',
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			'id' => '320',
			'article_category_id' => '34',
			'title' => 'Trade Union, Ministry Reach Agreement',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt; letter-spacing: -0.2pt;">T</span><span style="letter-spacing: -0.2pt;">he trade unions that were protesting for three weeks demanding a raise in the minimum wage finally called off their strike after the Ministry of Labour and Transport Management (MLTM) agreed on April 15 to increase the minimum wage of factory workers to Rs 6,400 from Rs 4,600. However, the business community has been objecting to this agreement as it negates another agreement already signed by the business community with the major national level trade unions. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) have already signed an agreement with the nationally recognised national level trade unions that are affiliated to the major political parties such as CPN-UML, Nepali Congress and Unified Maoists. The MLTM agreement is signed with new groups of trade unions affiliated to the Madhesi parties and a splinter group of the Maoists.&nbsp;The group that calls itself Inclusive Trade Union Federation had filed a case in the Supreme Court challenging the agreement that the business community had signed with the national level trade unions. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">According to the agreement signed by MLTM, the minimum wage has been increased by Rs 500, dearness allowance by Rs 1100 and the daily wage is increased to Rs 231 from Rs 190, said Purna Chandra Bhattarai, the Spokesperson at the MLTM. He added that the wage increase was agreed under the auspices of Minister of Labour and Transportation Management Top Bahadur Rayamajhi. Bhattarai also informed that the Inclusive Trade Union Federation has agreed to withdraw the case it had lodged in the SC. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Inclusive Trade Union Fedration had demanded the cancellation of 5th, 6th and 11th points of the agreement made on March 24 by the buisness community. It had also demanded 60 per cent increment in minimum wages and 40 per cent increase in allowances and to provide festival allowance to all workers. They also argued that the deduction of social security tax should start only after the implementation of Social Security Act. </span></div>
<div style="text-align: justify;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">However, the agreement with the Ministry is only for minimum wage. Badri Prasad Bajgain, the Coordinator of the splinter group of Maoist-affiliated All Nepal Trade Union Federation said that discussions on other points will be held later. </span></p>',
			'published' => true,
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			'id' => '319',
			'article_category_id' => '34',
			'title' => 'Committee For Rehabilitation Of Sick Industries',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">E</span><span style="font-size: 9.5pt;">conomic and Labour Relation Committee (ELRC) under the Legislature Parliament has directed the formation of a high level body to rehabilitate the sick industrial units. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed body would identify, declare and rehabilitate the sick units and prepare long term policies for addressing industrial sickness. Dr Tilak Rawal, a Member of the ELRC said that the proposed body would help settle the problem of industrial sickness in a speedy manner and prepare laws to address such problem in the long term.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The proposed body, will have representatives from the Ministries of Industry, Finance, Land Reforms and Management and Labour and Transportation Management as well as the National Planning Commission, Nepal Rastra Bank, Federation of Nepalese Chambers of Commerce and Industries and Nepal Bankers Association. </span></div>',
			'published' => true,
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			'id' => '318',
			'article_category_id' => '34',
			'title' => 'Credit Rating Regulations Early May',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="">S</span><span style="font-size: 9.5pt;">ecurities Board of Nepal (SEBON) has said that the Credit Rating Regulations would be implemented within early May. Dr Surbir Paudyal, the Chairman of SEBON, informed during a discussion programme held on April 5 that the regulation is expected to be approved by then incorporating suggestions received from the private sector.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Establishment of the credit rating agency would to bring a discipline in the countryâ€™s capital and money markets by providing the investors a fair idea about the risk involved in investing in the company or the investment instrument concerned. However, the participants at the interaction suggested SEBON to arrange for avoiding bias in the ratings.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed regulations have provisions that make it mandatory to have a credit rating of all the public issues of sizes exceeding Rs 100 million. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Basudev Adhikari, a Director of Nepal Rastra Bank suggested to lower this threshold to somewhere like Rs. 30 million as many issues in Nepal are lower than Rs. 100 million. â€œWhen the regional level development banks issue shares to the public, the issue size is less than Rs 100 million,â€ he said and asked for arranging that even such issues get rated.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Two companies have already applied to the board for license to operate as rating agency. </span></div>',
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			'id' => '317',
			'article_category_id' => '34',
			'title' => 'West Seti License Terminated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 10pt;">T</span><span style="font-size: 9.5pt;">he license of West Seti hydroelectricity project is now as good as terminated. A source at the Ministry of Energy said the license is being cancelled based on the reply sent by the license holder company West Seti Hydro Pvt Ltd.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Department of Electricity Development had sent a letter to the company on February 13 demanding clarification as to why the company had failed to work as per the agreement and arrange the necessary financial resources. In the clarification submitted in the last week of March, the company has expressed readiness to sit for talks for developing the project on Public Private Partnership (PPP) model.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Sunil Bahadur Malla, the Director General of the department said, â€œPPP is not the model we envisioned and agreed for West Seti. So, we have moved ahead for the cancellation of license.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The source at the ministry said the final decision on the cancellation of license and new ways to develop the project will be decided by the council of ministers. </span></div>',
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			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 6 => array(
		'Article' => array(
			'id' => '316',
			'article_category_id' => '34',
			'title' => 'Basnet Elected NCC Chief',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13pt;">S</span>uresh Kumar Basnet has been elected unopposed as the President of Nepal Chamber of Commerce (NCC). It was decided by the the first meeting of the Executive Committee of the NCC elected by its 58th annual general meeting.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Lok Manya Golchha is elected Senior Vice-President while Gyanendra Lal Tuladhar is the first Vice-President and Rajendra Malla is Second Vice-President. Similalry, Kamalesh Kumar Agrawal is elected General Secretary and Nilakantha Chaulagain, Devendra Bhakta Shrestha, Santosh Pandey and Him Rawal as Secretaries. Likewise, Rajendra Aryal is elected Treasurer and Parshuram Dahal as Co Treasurer.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	Soon after taking office, President Basnet said the NCC membership of those found guilty in forgery of VAT bills will be annulled. However, he also called on the government to be careful in treating with the businessmen as large majority of them are honest in their dealings. He also suggested adopting multi VAT rate to avoid such problems in the future.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '239',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '315',
			'article_category_id' => '34',
			'title' => 'Ncell Upgrades To Next Generation Technology',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 11pt; letter-spacing: 0.15pt;">N</span><span style="letter-spacing: 0.15pt;">cell, the largest private sector telecom operator has upgraded its network to next generation technology. According to a statement issued by the company, Ncell is the first service provider to use this technology among the TeliaSonera Group which has operations in 20 countries including the Scandinavia and Central Asia. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.05pt;">Pasi Koistinen, the CEO of Ncell said more than 250 experts worked on this project round the clock to upgrade the data of over four million customers. It took nine months to implement and move over to the new system, adds the company. The system was upgraded in the last week of March. The company claims that the new hardware capacity is equivalent to over 1,000 laptops. Five kilometres of cable was installed for the project. </span></div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '238',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '314',
			'article_category_id' => '34',
			'title' => 'Nepal, US Sign TIFA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">N</span><span style="font-size: 9.5pt;">epal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC. The agreement is expected to open the possibility of preferential entry of Nepali products to the United States and reduce trade barriers.</span></p>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">TIFA has replaced the 1947 Bilateral Economic and Trade Agreement with the US. Kirk said that the agreement has established institutional framework for bilateral talks to enhance trade and investment between the two countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">After signing the agreement, the first joint meeting&nbsp;was held to discussed and identify market potential of Nepali goods in the US market as well at to expand American investment in Nepal. Nepal is the fourth South Asian country to sign TIFA with US. </span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The agreement has opened up the possibility to provide Nepali goods duty-free access to the American Market. Due to high tariff in the entry into US market, Nepali goods have failed to compete there. Though the US has committed to the World Trade Organisation provisions to provide duty-free access to 97 per cent of third world country goods, it has not implemented it yet.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Nepal had been enjoying the quota facility until 2005 in exporting garments to the US. After the US scrapped the quota system, garment export, diminished drastically. In 2010, Nepal imported goods worth US $ 28 million from the US. Major products imported from the US are aircraft, machineries and medical equipments. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC.',
			'sortorder' => '237',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 9 => array(
		'Article' => array(
			'id' => '313',
			'article_category_id' => '34',
			'title' => 'SC Stays NRB Directives',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">T</span>he Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank. In its order issued early April, the SC said the NRB directives of some nine months ago were found biased against the promoter shareholders.</p>
<div style="text-align: justify;">
	The stay order, was issued by the single bench of Justice Balram KC after hearing on a writ filed by Santu Shrestha, a promoter of Kumari Bank. The order has&nbsp;also asked NRB to submit the logic behind the directive.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank.',
			'sortorder' => '236',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '312',
			'article_category_id' => '34',
			'title' => 'New Leadership In FNCCI',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">S</span>uraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha,&nbsp;the other candidate.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	&nbsp;Similarly, Bhaskar Raj Rajkarnikar is elected Senior Vice President by the newly formed executive committee of the Federation. Rajkarnikar defeated Kumud Dugar by 37-24 votes. Rajkarnikar is from Vaidya Panel while Dugar represented Shrestha panel.</div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">Likewise, Bhawani Rana, Pradip Jung Pandey and Pashupati Murarka are elected to the post of other Vice Presidents. Rana and Murarka are from Vaidya panel while Pandey represents Shrestha panel. Rana is the first lady Vice President of FNCCI. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Suraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha, the other candidate.',
			'sortorder' => '235',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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		)
	),
	(int) 11 => array(
		'Article' => array(
			'id' => '311',
			'article_category_id' => '39',
			'title' => 'Wealth Exchange: The Business Of Patience',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify; text-indent: 0in;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/sanandan singh.jpg" style="width: 138px; height: 176px;" vspace="1" /><span style="color: rgb(178, 34, 34);">Sanandan Singh</span></span></b></div>
<div style="text-align: justify; text-indent: 0in;">
	<span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt; line-height: 120%;">CEO</span></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt;">WEX</span></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);">â€œWe will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€</span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);"><br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 12.5pt;">T</span><span style="font-size: 9.5pt;">he commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago. Registered in March 2010, WEX began its operations from November 2010 as a spot exchange. It is the first spot exchange in Nepal where the number of futures exchanges is three.&nbsp;Sanandan Singh, the CEO of WEX said that the company entered the market at the right time. â€œThis is our soft launching and the big one is yet to comeâ€™â€™, he added. The company is preparing to formally inaugurate its business amid a special function. Singh believes that something substantial like a good profit is required for an entry with a bang. â€œWe are waiting for doing right thing at the right time,â€ he said.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">In the embryonic market that has just three commodities exchanges, WEX entered as the fourth company with a difference. Singh said that the Meta Trader 4 distinguishes the company from the rest. â€œMeta Trader 4 is a strong marketing tool for us,â€ Singh remarked. He explained the reasons for choosing the particular software as, â€œThere is competition in the market and competitors have their own client and niche market. We wanted to introduce a product that is world renowned. And the software has helped to attract business for us.â€</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX specialises in gold and silver. However, the company has the vision to expand its services further with various commodities. There are around 30 commodities traded across the globe. At WEX, gold and silver is virtually traded online with a margin, however, the company claims it can make physical delivery of gold and silver if the clients demand, subject to government regulation. â€œWe have determined Rs 70,000&nbsp;as the margin for a kilogram of gold which is a standard lot. For silver, the standard lot is 30 kg.â€ Recently, due to the demand of the investors, mini lot of 100 grams of gold has been introduced too.</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">About choosing gold and silver for trading, Singh said, â€œIn Nepal, awareness among the investors about commodities trading may further facilitate the investment climate and other products can be included in the long run. However, gold and silver are the most traded items in the world and known by all.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Trading at WEX does not require bags of solid gold with you. Just a few clicks online and the job is done â€“ thanks to the automated system. Clients make deposits online through the exchangeâ€™s banking partner Bank of Kathmandu and the amount is later transferred into the trading platform. Buying and selling to profits and losses are all counted and transferred online.</span></div>
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	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">There is a unique chain of communication between the company and the clients. The chain includes a clearing member which is in direct contact with WEX and that is followed by brokers and finally the clients. It is actually the brokers who make clients. The organisational communication adopted is vertical. Singh said, â€œWe go down the line while they (clients and members) come up the line. Customers are not only of the brokers but also of the exchange.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX takes membership fees from clearing members and that is passed onto the brokers who may <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1(1).jpg" style="width: 324px; height: 196px;" vspace="1" />pass this on to their customers. Singh said that the software is the most expensive part of operation of an exchange. He reveals that the company has already reached the breakeven point if the cost of software is excluded. </span></div>
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	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Though the company is target oriented, Singh says there are no plans to make millions of rupees within a few months. Stating his companyâ€™s growth strategy he says, â€œWe will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€&nbsp;Singhâ€™s principle is â€˜Slow and steady wins the race.â€™ He said that the team is dedicated on strengthening the foundation. He claimed, â€œAfter laying the foundation stone, we have already risen above the ground. We are receiving feedback and we welcome criticism because it is a form of recognition too. The suggestion and feedback requested from us by the Securities Board of Nepal (SEBON) is an example of that.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has marketed itself saying, â€˜A majority of our clients will be in profit, provided they conduct a proper technical and fundamental analysis.â€™ Singh says the company wonâ€™t have any problem even if 100 per cent of its clients benefit. He defies the rule â€˜someone has to lose when someone wins.â€™ Normally when a client makes profit, the exchange would be in loss. He clarifies, â€œWe have managed the risk. Our philosophy is that clients may profit as much as they can. We are competent enough to pay them.â€ Singh said that the earning of the exchange is nominal. While 70 per cent of the commission of a standard lot is passed on to the brokers, 30 per cent is shared by the clearing member and the exchange.&nbsp;Currently, WEXâ€™s objective is high turnover in low margin. The company has set the target of minimum trading of standard lots for a month.</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Singh presently sees limited encouragement among clients. â€œBut we hope it will get better with time,â€ he said. According to Singh, though people have the money to invest they are reluctant to come into this sector due to their lack of knowledge about it. For that, the company has tied with Commodities Trading Institute for WEX certified courses for potential as well as existing clients and brokers. The company hopes to gain substantial momentum after some idea about this market is developed among the potential clients.&nbsp;When the number of brokers increases, the company receives software charge and membership fees which are the income of the company. </span></div>
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	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Currently, there are around 100 clients and 16 brokers of WEX. The company has chosen to increase the clients by spreading knowledge about the commodities market and skills to do trading. Until now, the company has given orientation classes free of cost to 100 - 150 potential clients. The company considers this as an act of Corporate Social Responsibility even before starting to make any profits.</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to invest further in Corporate Social Responsibility (CSR) after it makes a strong foothold in the market. For now, the company likes to call its orientation classes and its responsible operation as CSR activities.</span></div>
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	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company believes in good governance, transparency, decentralisation and system-run mechanism. Singh says, â€œWe donâ€™t believe in one man decision. It has to be a group decision always.â€ High moral ethics, integrity, discipline etc are must for anyone in the company. Currently, there are 12 staff members in WEX. â€œOur philosophy is that everyone in the office must have high degree of ethical standards, honesty and competency. â€˜Salary is no bar for deserving candidatesâ€™ is our philosophy of human resource management and we guarantee a highly motivating career.â€</span></div>
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	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX does not feel any competition in the real sense. According to Singh, there is competition with three other exchanges but not in service, commission and platform. â€œWe have monopoly as regards Meta Trader 4 and our efficient and professional standards,â€ he added.</span></div>
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	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Being a new entrant in the market, WEX has some challenges to defeat.&nbsp;Preconceived ideas that everyone will lose in the commodities trading has become the biggest challenge. â€œBrokers feel comfortable with old clients. They bargain unnaturally,â€ said Singh, â€œLimited knowledge and long term strategy are the main challenges we are facing now.â€</span></div>
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	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company believes steady growth is the best option for now considering the situation of the country. It is planning to expand its services beyond the Kathmandu Valley.&nbsp;Singh informed that there are already quite a few clients outside the capital. Therefore, expansion into major hubs like Biratnagar, Birgunj, Pokhara, Nepalgunj, Janakpur, Birtamod and Bhairahawa where the company sees immense potential, is in the pipeline. Similarly, WEX is focusing on increasing the number of brokers to 50 and clients to 1,000 in the near future. â€œWe are quality focused. We look for clients who can spare their surplus money, but we donâ€™t advise over stretching their expenses and over trading in the commodities market,â€ he explained.</span></div>
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	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The commodities market lacks the presence of regulatory authority and WEX strongly feels its requirement. Though there are directives, an Act is yet to be formulated. SEBON is proposed as the regulator by the Ministry of Finance. Singh said that an external regulator is needed for check and balance so that regular inspections are implemented and corrective measures are enacted by the exchanges as required by the regulator from time to time. Singh feels that the regulator can regulate the exchange companies and also help in developing the expertise of national and international standard. This sector is yet to be explored fully by the investors as opportunities are unlimited.</span></div>
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	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Though registered as a private limited company, WEX is working and looking forward to going public in the near future. It aims at being the premier commodities exchange in the country, managed by a highly professional and dedicated team for contributing towards the growth of this sector by disseminating knowledge and investment opportunities to investors.&nbsp;&nbsp; </span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">WEX is confident that the commodities market will grow tremendously and become popular in the days to come that open the new vista of investment and speculative trading to people in general. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	SWOT Analysis</div>
<div style="text-align: justify;">
	Strengths:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; First Spot exchange in Nepal specialising in Gold and Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Huge capability to facilitate the most complex and demanding trading. The WEX Platform offers trading 24 hours a day throughout the trading week which is more than any other exchange in the country</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; The liquidity of trading is largest and most diverse. Ability to execute large purchases and sales orders quickly and efficiently</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; WEX market is fair, transparent and anonymous and its electronic trading platform offers the same opportunity for all participants</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Good corporate governance with experienced team</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; First commodity exchange to introduce mobile trading</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Contract does not expire in SPOT exchange unlike&nbsp;in future exchange</div>
<div style="text-align: justify;">
	&nbsp;Weaknesses:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Specialisation in two commodities.&nbsp;Unable to provide service to investors having interest in other commodities</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Teething problems as WEX is in its initial stage</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Unable to expand its potentials in the absence of a government regulator</div>
<div style="text-align: justify;">
	Opportunities:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Huge market potential</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; By-product of commodities market is not practised</div>
<div style="text-align: justify;">
	Threats:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Unstable political situation</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inadequate knowledge of commodities market</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Quick Facts</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Incorporated&nbsp;at Company Registrar of Nepal on 18 March 2010</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Came into&nbsp;operation from 11 Nov 2010</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Number of Trading Members: 17</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Number of active traders: More&nbsp;than 300</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Strategic Bank: Bank of Kathmandu</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Traded Commodities: Gold and Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Minimum Trading Size: 100 gm Gold and 5 Kg Silver at Rs 7,000 Margin</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Trading Platform: Meta Trader 4</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Spread (difference of bid and ask): 20 on Gold and 1 on Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Coverage outside the valley : 20 per cent</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction (standard lot): approximately 1,250</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction by number: 1,860</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction by individual investor: approx 6</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual&nbsp;trading member target: 30</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual&nbsp;target of active investors: 2,000</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual target coverage outside Kathmandu Valley: 35 per cent of total</div>
<div style="text-align: justify;">
	<i><span style="font-size: 8pt;">Source</span></i><span style="font-size: 8pt;">: WEX</span></div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '2011-06-03',
			'keywords' => '',
			'description' => 'The commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago.',
			'sortorder' => '234',
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	),
	(int) 12 => array(
		'Article' => array(
			'id' => '310',
			'article_category_id' => '39',
			'title' => 'Kist Bankâ€™s Social Service',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus.jpg" style="width: 204px; height: 183px;" vspace="1" />W</span>ith a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services. Kamal Prasad Gnawali, the Managing Director of the bank says, â€œKist Bank stands for customersâ€™ convenience and support. We always look forward to serve them by understanding their needs and designing tailored products.â€</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Kist Merchant Banking and Finance was initially incorporated as a â€˜Câ€™ category financial institution in 2003 for undertaking limited banking activities. It started commercial banking activities as Kist Bank Limited from 7 May 2009. Starting with seven employees in 2003, it has 582 people in its ranks today. The bank has deposits to the tune of Rs 16 billion and loans of Rs 13 billion in current fiscal year 2010-11. In the last fiscal year 2009-10, the deposits and loans stood at Rs 15 billion and Rs 12.5 billion respectively.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The bank is driven by values of efficiency in operations, integrity and a strong focus on catering the needs of every customer by offering high quality and cost effective products and services. The management team along with its dedicated employees operate in a highly automated environment. It has put in substantial efforts and investments in acquiring the best technologies available to build necessary banking infrastructure. The bankâ€™s superior information technology and communication systems enable delivery of prompt and quality services.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.1pt;">Due to its wide network of branches, a sizeable population has access to its banking services where most value added services come free of cost. Gnawali says that the transition to a full-fledged bank in 2009 was a major turning point in the companyâ€™s history. â€œIt was a challenge in terms of manpower, market perception and expectations,â€ he admits.&nbsp;Having pioneered many products in Nepalâ€™s financial sector, the bank these days does not pursue matters aggressively. It rather believes in a controlled business approach and focuses on individuals and SMEs as its clients.</span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">A young bank with its employees averaging 26 years of age, it believes in a democratic style of working. The staff equation is well taken care of by maintaining a good balance between senior and junior employees. The human resource department at the bank conducts training every week to increase the efficiency of its workforce. Kist Bank believes in having a participative management and ensures easy access and direct approach among its employees. Gnawali was the First Runner Up at the prestigious MAN Awards 2010 under â€˜Manager of the Yearâ€™ category. â€œAny award that I receive is because of the bank and not for me as an individual,â€ he says giving credit for his personal success to the bankâ€™s management team. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<strong>Commitment to CSR</strong></div>
<div style="text-align: justify;">
	For Kist Bank, corporate social responsibility (CSR) has always been a top agenda. It means embracing responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and the public at large. Gnawali explains, â€œIt helps us manage our business responsibly and sensibly for long term sustainable banking.â€</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<strong>Some CSR commitments of the bank include:</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Cash Assistance to Cyclist Puskar Shah</span></b></div>
<div style="text-align: justify;">
	The bank honoured cyclist Puskar Shah as its goodwill ambassador and assisted him during his world cycling tour of 150 countries. It also provided a cash assistance of Rs 442,417 to Shah for his expedition to Mount Everest. Shah took to the summit the national flags of the countries he visiteda as well as a banner with the Kist Bankâ€™s logo.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Society of Economic Journalists (SEJON)</span></b></div>
<div style="text-align: justify;">
	The bank has provided a cash assistance of Rs 500,000 to SEJON to establish a revolving fund to provide annual award to three economic journalists. The bank hopes that this award will be an additional incentive to the journalists.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Traffic Awareness Programme</span></b></div>
<div style="text-align: justify;">
	With the objective to raise the awareness among the commuters and drivers of public transport vehicles in urban areas, the bank has provided an assistance of Rs 240,000 to create 20,000 traffic awareness stickers. These stickers were pasted on public vehicles in coordination with Namuna Sadan and Media Agency.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Cataract Surgery</span></b></div>
<div style="text-align: justify;">
	The bank provided Rs 12,500 for cataract surgery of five ophthalmic patients in an eye camp organised with the initiation of Reyukai Masunga Eye Hospital, Banepa.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Gaurishankar Campus</span></b></div>
<div style="text-align: justify;">
	The bank provided cash and kind equivalent to Rs 84,000 for an enlightening discourse programme on Bhagawat Geeta aimed at collecting funds to convert Gaurishankar College at Charikot, Dolakha into a University.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Street Lights</span></b></div>
<div style="text-align: justify;">
	Four street lights worth Rs 24,000 were installed at main road in Kalanki, Kathmandu in coordination with LOYUS, an NGO.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">River Conservation and Tree Plantation</span></b></div>
<div style="text-align: justify;">
	Under the initiation of National Nature Conservation Fund, the bank provided Rs 15,000 for planting 100,000 trees on the banks of Bagmati River.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Children Memorial Monument and Garden</span></b></div>
<div style="text-align: justify;">
	A financial assistance of Rs 200,000 was made to Vishwo Shanti Prachar Manch, an NGO, for the construction of children memorial monument and garden near the entrance of Tribhuvan International Airport.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Plans</span></b></div>
<div style="text-align: justify;">
	The bank says it has always been giving prime focus on physical infrastructure and human resource development. It has laid emphasis on acquiring state-of-the-art information technology to ensure the most secure transaction and remain competitive. It has enhanced its distribution outlet to reach un-banked areas and serve people with banking services.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	A few key plans of the bank are:</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Having acquired VISAâ€™s Associate Membership in 2011, the bank is set to launch VISA accredited credit and debit cards this year. Presently, the bank has 150,000 debit card holders on its rolls.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Last year, the company focused on expansion and building internal strength. Situation permitting and with a favourable environment, the bankâ€™s dream this year is to turn multinational and extend its banking services to countries that have sizeable Nepali Diaspora.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Increase customer base to 500,000 from the present 300,000.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank currently provides services to customers from its own buildings in Anamnagar, Birtamod, Damak, Biratnagar and Narayangarh. It wants to have own bank buildings at all possible branch locations. A multi-storey building which will house the bankâ€™s main branch and head office is presently under construction at Anamnagar, Kathmandu.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Too many players in the market have resulted in quality manpower crunch. To counter this, the bank plans to develop a competitive workforce to undertake higher responsibilities. Its training and development department bears the responsibility to train qualified individuals hired by the bank.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Expand its remittance business making it accessible to a larger section of the population.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Develop and launch innovative and customer-friendly products to meet the needs of people deprived of banking services. The bank has a research and development wing that carries out research effecting this direction.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Support the investors to start large infrastructure development projects in the country.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank also plans to promote micro finance to develop self sustainable enterprises and make individuals self-reliant.</div>
<div style="text-align: justify;">
	<strong>Vision and Mission</strong></div>
<div style="text-align: justify;">
	Kist Bankâ€™s vision is to become the best bank based on operational excellence and superior financial performance. It remains open to the idea of a merger. The bank aspires to become a leading bank by providing best quality financial products and services to its customers, enhancing shareholders value, creating excellent growth opportunity for its employees and contributing to the economic prosperity of the country.&nbsp;</div>
<div style="text-align: justify;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal prasad.jpg" style="width: 140px; height: 186px;" vspace="1" />Kamal Prasad Gnawali</span></b></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<span style="font-size: 7pt; line-height: 120%;">Managing Director</span></div>
<div style="text-align: justify;">
	<span style="font-size: 7pt; line-height: 115%;">Kist Bank</span></div>
<div style="text-align: justify;">
	â€œThe transition to a full-fledged bank in 2009 was a major turning point in the companyâ€™s history. It was a challenge in terms of manpower, market perception and expectations,â€</div>
<div style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);">Kist Bank Briefs</span></div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The authorised capital is Rs 5 billion and the issued and paid-up capital Rs 2 billion.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> 60 per cent of the paid-up capital is held by the promoters and remaining 40 per cent by the general public.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The shares of the bank are listed at Nepal Stock Exchange Limited (NEPSE) as â€˜Aâ€™ category shares.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span><span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The seven-member Board of Directors (BOD) has three Directors representing the promoters, two representing the general public and one representing the Professional Director.</span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	SWOT Analysis</div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<b><span style="">Strengths: </span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Young and career-oriented workforce</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Good relations between Promoters and Directors</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Quick implementation of ideas</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> A sound infrastructure</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Impressive range of products</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Promotersâ€™ trust in the institution</div>
<div style="text-align: justify;">
	<b><span style="">Weaknesses:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">* </span>Comparatively new entrant in the market</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Limited exposure in corporate banking</div>
<div style="text-align: justify;">
	<b><span style="">Opportunities:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Foray into corporate banking</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Further business expansion and development</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Build on existing infrastructure</div>
<div style="text-align: justify;">
	<b><span style="">Threats:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Mushrooming competitors</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Political instability</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Unhealthy competition</div>',
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			'description' => 'With a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '309',
			'article_category_id' => '31',
			'title' => '˜We Are Looking Into Nepal's Hydro And Highways"',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;"><img align="left" alt="" border="2" height="296" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img6.jpg" style="width: 203px; height: 296px;margin:10px;padding:10px;" vspace="1" width="203" />Atul Punj</span><span style="font-size: 12pt;">, the Chairman of Punj Llyod Ltd“ a diversified international conglomerate offering EPC services in Energy and Infrastructure “ was in Kathmandu recently on the invitation of Entrepreneurs Organisation. A US$ 2.4 billion turnover company, Punj Llyod Group has built projects across the world and continues to provide integrated design, engineering, procurement, construction (EPC) and project management services for the energy, infrastructure and petrochemical sectors. In an interview with New Business Age, Punj talked about his company's possibilities of working in Nepal. Excerpts:<br />
	<br />
	</span></div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>What's the purpose of your visit to Nepal this time?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	This is actually my first visit to Kathmandu. I was invited here by the Entrepreneurs™ Organisation to speak on entrepreneurship. It also gives me an opportunity to explore and get a feel of the city and the country and see what's happening.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong>Could you please elaborate on Punj Lloyd's business activities?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We cover everything from urban infrastructure to expressways. We operate through our twenty international offices and entities across the Middle East, the Caspian, Asia Pacific, Africa, South Asia, China and Europe. The ideology is that we move into a country and localise operations there as quickly as possible. We make sure that we are seen as a local company rather than a foreign entity that has come in only to explore business opportunities. So, we invest a lot of time and money in training people and imparting specialised skills.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Our Group's three brands - Punj Lloyd and PL Engineering headquartered in India and Sembawang Engineers &amp; Constructors in Singapore, each with their own subsidiaries and joint ventures, converge to offer complementary services, rich experiences and the best practices from across the globe. We offer EPC solutions across a wide spectrum of businesses: pipelines, tanks, terminals, refineries, power plants, airports and rail transit systems among others.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>What are the key strengths of your group? What sets you apart from your competitors?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	The key strengths would be our varied experience and rich knowledge of local conditions. Ours is a 23,000 strong skilled multicultural workforce that has the experience of working in different geographies and diverse terrain. We set high standards of health, safety, quality and environment and have received accolades and recognitions from industry bodies and clients.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-indent: 0in; text-align: justify;">
	We have the ability to manage operations in diverse industries and economies, long-term relationships with world-class clients and mobilising financial resources. The huge fleet of equipment Punj Lloyd owns gives the company an edge over its competitors.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>Punj Lloyd is said to be committed to the cause of community enrichment. How do you go about achieving that?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	In our pursuit of business, we endeavour to uplift the communities where we operate. Social and environmental concerns are closely interwoven in Punj Lloyd Group's core practices and decision making. From providing education to many underprivileged children through its own school to enriching the lives of thousands of workers at its sites, we are committed to the cause of community enhancement.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>A number of construction and infrastructure related projects in Nepal are being talked about of late. What has kept Punj Lloyd from getting involved so far?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	I think the major reason for this has been the political instability here. Nobody knows which direction the country is heading towards. Hopefully, things will settle down sooner or later. The opportunities are definitely very large particularly in the hydropower area. Highway is another huge opportunity. We will look into it and see how we can take advantage of these.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>How do you view the current business environment of Nepal? What areas of feasible business opportunities do you see for your company here?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	<span style="letter-spacing: 0.1pt;">I think the opportunities for businesses in this country will be largely based on political stability. Of course, there is a lot of investment and capital required to get the economy back to a position of strength. There is immense hydroelectricity potential in Nepal. The opportunity to produce and export power to India and other countries in the region is enormous. So, the relevance of hydropower is quite natural to us. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>It might interest you to know that most projects in Nepal face local opposition.&nbsp;How do you handle such situation in locations that you have been working?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Well, it's no different in India either. Any vibrant democracy which is developing has the same people power issue. Building roads, land acquisition etc are critical issues to deal with. It's important to talk to the local population and make them understand the benefits that the project will bring to them. For instance, you can build schools and primary healthcare centres for them and also offer employment.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	I think communities do understand that projects can make a contribution towards their development. We have learnt this over the years and therefore, we have an excellent track record for successful completion of projects within tight schedules. This lends credibility to the Group and encourages clients to trust it with repeat orders.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>Are you looking at possibilities of partnering the Chaudhary Group here? Is there a certain time period you are looking at to commence operations in Nepal?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Everything is open right now. We are looking at opportunities depending on how they unfurl. We hope to start sometime within this year depending on how soon we can formalise things.&nbsp; <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.15pt;"><br />
	</span></div>
<div style="text-align: justify;">
	 </div>',
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			'description' => 'Atul Punj, the Chairman of Punj Llyod Ltd “a diversified international conglomerate offering EPC services in Energy and Infrastructure“was in Kathmandu recently on the invitation of Entrepreneurs Organization.',
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		'Article' => array(
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			'article_category_id' => '31',
			'title' => '“We Are Innovators, Not Followers”',
			'sub_title' => '',
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			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;"><img align="left" alt="" border="2" height="259" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img5.jpg" style="width: 259px; height: 259px;margin:10px;padding:10px;" vspace="1" width="259" />Bernard Lee Meng Sum</span><span style="font-size: 12pt;"> is the Deputy General Manager (International Marketing and Investment) of Demak Motors, a two wheeler manufacturer based in Malaysia. He was in Kathmandu recently to launch two motorcycles models of his company through its dealer Agni Incorporated Pvt Ltd. Demak Motors won the Golden Bull Award 2010 for being one of the 100 outstanding SMEs in Malaysia. The company plans to penetrate&nbsp;the East and South East Asian markets in the foreseeable future. In an interview with New Business Age, Meng Sum shared his ideas on Demak Motors market prospects in Nepal. Excerpts:</span></div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong>Why is Demak Motors attracted to Nepal ?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We have been keeping track of the market potentials for bikes in Nepal. Quite naturally, we see a very good growth here. We would like to be the number one in the Nepali market as a Malaysian brand. This year, our corporate strategy is to expand in the East Asian market and Nepal. We have tied up with a very good company, Agni Incorporated, to penetrate the potential market here.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>You have launched two models of Demak bikes. Is there any particular reason for choosing these two models over others?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Our market study revealed that dirt bikes and cruisers have large potential in Nepal. As you can currently see, the Nepali market is monopolised by street bikes. We surely are going to introduce more models with time. These will include scooters, electric motorcycles and hybrid scooters which have not been seen in the Nepali market as yet.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Who do you see as major competitors for your bikes here?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We don't see anyone as a competitor right now. We are the innovators rather than the followers. We don't consider ourselves as competing against Indian brands. But we will position ourselves as the market leader in the dirt bikes and cruisers segment of the market.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>How is Demak doing in the Philippines where it entered recently?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We are doing quite well in Philippines right now. The Philippines market is completely different than Nepal in terms of economy and market environment. We are currently the number five brand in Philippines but we will rise to number four next year.<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>What sort of growth do you expect in Nepal business?&nbsp;</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	It looks a fantastic market to us. Nepal is located between China and India who have several automobile giants in their ranks. As a Malaysian brand, we are proud to have entered the Nepali market. It takes an extensive effort for us to be here. We hope it will be a success story in the coming days for the entire East Asian market.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Which segment of the market are you targeting to sell your bikes?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Well, it is a huge market. We are offering products that are different, classic and nostalgic. We are targeting college boys and teenagers in the age range of 20 to 28 years.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>What is the sales target you have in mind for the first year in Nepal?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	For the first year, we are looking at selling 2,000 units. In the consequent years, we plan to grow at 10 percent on a yearly basis.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Your company won the Golden Bull Award 2010 for being one of the 100 outstanding SMEs. What kind of strategies did the company adopt to find such success within seven years of operation?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We believe in our marketing, our products and the wonderful teamwork that we have in our company. The Chinese philosophy which we practice in Malaysia is: there is no mountain that we cannot conquer as long as we put hard work and dedication to our assignments.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>You are establishing a production plant in Sri Lanka. Can you tell us about it?</strong></div>
<p style="text-align: justify;">
	<span style="font-size: 12px;"><span style="line-height: 115%;">Sri Lanka will be the export hub for us to penetrate the East Asian and South Asian markets.&nbsp;We chose Sri Lanka because this is the shortest distance in terms of distribution of our products to Nepal, Bhutan and our next target market India. We see potential in India for our dirt bikes, specially our scooters and electrical bikes.</span><br />
	</span></p>',
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			'description' => 'Bernard Lee Meng Sum  is the Deputy General Manager (International Marketing and Investment) of Demak Motors, a two wheeler manufacturer based in Malaysia.',
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			'title' => 'Bhansa Gas Hits The Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">R</span>ijal Group has started selling Bhansa gas in the market beginning April 12. The cooking gas is produced by Rijal Group, which has made its name as the producer of poly-tanks. The gas is available in 14.2 kg at present. Nabin Rijal, the Managing Director of the company said that the gas will be available in the eastern region in the first phase. â€œGradually we will provide our product all over the country,â€ he assured.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Rijal claimed that the current production will be distributed in the areas of eastern region as there is scarcity of cooking gas there at present. The company has a filling capacity of 3,000 cylinders each day. However, it is currently filling only 1,000 cylinders per day. The plant has the capacity to store 200 metric tonnes of gas.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company will purchase gas from Nepal Oil Corporation and cylinders from Nepali as well as Indian producers. More than 70 people have received direct employment in the company.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company claimed that Bhansa gas meets all security and quality requirements. Rijal claimed Bhansa gas contains 14.2 kg of gas as specified on the cylinder. He added that the plant has installed state-of-the-art risk management mechanism to prevent accidents. The plant has a provision to store 500 thousand litres of water to extinguish fire in case of an emergency.<br />
	Â </div>
<div style="text-align: justify;">
	The company has planned to invest Rs 100 million for capacity expansion.</div>',
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			'title' => 'Samsung Plans $ 700 M Investment In India',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14pt;">S</span><span style="font-size: 9.5pt;">amsung is investing US $ 500 million to 700 million in the current year in India. Jung Shoo Shin, President and CEO, Samsung South West Asia revealed this plan at the Samsung Forum 2011 held in New Delhi on April 13 and 14. Shin said IRs 3.5 billion will be invested to establish Channel Plant to increase production. He added, â€œTo achieve our target, we have prioritised the aggressive market strategy.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">During the forum, the company informed that it introduced 60 new products in the Indian market. The company introduced laptops, Galaxy Tab 10.1, Galaxy S 2, Talking Microwave, Blu-Ray Home Theatre and Four-Door Refrigerator among other products. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to realise a business worth US $ 4.9 billion from India alone. Shin said that India and other Southwest Asian countries did a business of US $ 3.5 billion in 2010. He speculated, â€œWe have expected the growth of all Samsung products by 40 per cent this year.â€ He added the products introduced in Indian market will be available in Nepal, Bangladesh and Sri Lanka around one-and-a-half month later. Samsung enjoys 51 per cent market share in the Asian countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">â€œWe have expected India to hold 5 per cent of the world market,â€ Shin said. Samsung India (Mobile and IT) Director, Ranjit Yadav said that his company is determined to meet the target.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Shin said there is no immediate plan to increase investment in Nepal, Bangladesh and Sri Lanka. He said, â€œThere is no political stability in Nepal, so, we canâ€™t say anything about increasing investment right now.â€ He added, â€œHowever, we know Nepal is a good market for Samsung products.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He revealed that Samsung is ready to contribute for Corporate Social Responsibility in Nepal if the political situation eases. He promised to make its strong presence in Nepal after political stability is attained.</span></div>',
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			'id' => '320',
			'article_category_id' => '34',
			'title' => 'Trade Union, Ministry Reach Agreement',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt; letter-spacing: -0.2pt;">T</span><span style="letter-spacing: -0.2pt;">he trade unions that were protesting for three weeks demanding a raise in the minimum wage finally called off their strike after the Ministry of Labour and Transport Management (MLTM) agreed on April 15 to increase the minimum wage of factory workers to Rs 6,400 from Rs 4,600. However, the business community has been objecting to this agreement as it negates another agreement already signed by the business community with the major national level trade unions. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) have already signed an agreement with the nationally recognised national level trade unions that are affiliated to the major political parties such as CPN-UML, Nepali Congress and Unified Maoists. The MLTM agreement is signed with new groups of trade unions affiliated to the Madhesi parties and a splinter group of the Maoists.&nbsp;The group that calls itself Inclusive Trade Union Federation had filed a case in the Supreme Court challenging the agreement that the business community had signed with the national level trade unions. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">According to the agreement signed by MLTM, the minimum wage has been increased by Rs 500, dearness allowance by Rs 1100 and the daily wage is increased to Rs 231 from Rs 190, said Purna Chandra Bhattarai, the Spokesperson at the MLTM. He added that the wage increase was agreed under the auspices of Minister of Labour and Transportation Management Top Bahadur Rayamajhi. Bhattarai also informed that the Inclusive Trade Union Federation has agreed to withdraw the case it had lodged in the SC. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Inclusive Trade Union Fedration had demanded the cancellation of 5th, 6th and 11th points of the agreement made on March 24 by the buisness community. It had also demanded 60 per cent increment in minimum wages and 40 per cent increase in allowances and to provide festival allowance to all workers. They also argued that the deduction of social security tax should start only after the implementation of Social Security Act. </span></div>
<div style="text-align: justify;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">However, the agreement with the Ministry is only for minimum wage. Badri Prasad Bajgain, the Coordinator of the splinter group of Maoist-affiliated All Nepal Trade Union Federation said that discussions on other points will be held later. </span></p>',
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			'id' => '319',
			'article_category_id' => '34',
			'title' => 'Committee For Rehabilitation Of Sick Industries',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">E</span><span style="font-size: 9.5pt;">conomic and Labour Relation Committee (ELRC) under the Legislature Parliament has directed the formation of a high level body to rehabilitate the sick industrial units. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed body would identify, declare and rehabilitate the sick units and prepare long term policies for addressing industrial sickness. Dr Tilak Rawal, a Member of the ELRC said that the proposed body would help settle the problem of industrial sickness in a speedy manner and prepare laws to address such problem in the long term.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The proposed body, will have representatives from the Ministries of Industry, Finance, Land Reforms and Management and Labour and Transportation Management as well as the National Planning Commission, Nepal Rastra Bank, Federation of Nepalese Chambers of Commerce and Industries and Nepal Bankers Association. </span></div>',
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			'title' => 'Credit Rating Regulations Early May',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="">S</span><span style="font-size: 9.5pt;">ecurities Board of Nepal (SEBON) has said that the Credit Rating Regulations would be implemented within early May. Dr Surbir Paudyal, the Chairman of SEBON, informed during a discussion programme held on April 5 that the regulation is expected to be approved by then incorporating suggestions received from the private sector.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Establishment of the credit rating agency would to bring a discipline in the countryâ€™s capital and money markets by providing the investors a fair idea about the risk involved in investing in the company or the investment instrument concerned. However, the participants at the interaction suggested SEBON to arrange for avoiding bias in the ratings.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed regulations have provisions that make it mandatory to have a credit rating of all the public issues of sizes exceeding Rs 100 million. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Basudev Adhikari, a Director of Nepal Rastra Bank suggested to lower this threshold to somewhere like Rs. 30 million as many issues in Nepal are lower than Rs. 100 million. â€œWhen the regional level development banks issue shares to the public, the issue size is less than Rs 100 million,â€ he said and asked for arranging that even such issues get rated.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Two companies have already applied to the board for license to operate as rating agency. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '241',
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	),
	(int) 5 => array(
		'Article' => array(
			'id' => '317',
			'article_category_id' => '34',
			'title' => 'West Seti License Terminated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 10pt;">T</span><span style="font-size: 9.5pt;">he license of West Seti hydroelectricity project is now as good as terminated. A source at the Ministry of Energy said the license is being cancelled based on the reply sent by the license holder company West Seti Hydro Pvt Ltd.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Department of Electricity Development had sent a letter to the company on February 13 demanding clarification as to why the company had failed to work as per the agreement and arrange the necessary financial resources. In the clarification submitted in the last week of March, the company has expressed readiness to sit for talks for developing the project on Public Private Partnership (PPP) model.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Sunil Bahadur Malla, the Director General of the department said, â€œPPP is not the model we envisioned and agreed for West Seti. So, we have moved ahead for the cancellation of license.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The source at the ministry said the final decision on the cancellation of license and new ways to develop the project will be decided by the council of ministers. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '240',
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	),
	(int) 6 => array(
		'Article' => array(
			'id' => '316',
			'article_category_id' => '34',
			'title' => 'Basnet Elected NCC Chief',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13pt;">S</span>uresh Kumar Basnet has been elected unopposed as the President of Nepal Chamber of Commerce (NCC). It was decided by the the first meeting of the Executive Committee of the NCC elected by its 58th annual general meeting.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Lok Manya Golchha is elected Senior Vice-President while Gyanendra Lal Tuladhar is the first Vice-President and Rajendra Malla is Second Vice-President. Similalry, Kamalesh Kumar Agrawal is elected General Secretary and Nilakantha Chaulagain, Devendra Bhakta Shrestha, Santosh Pandey and Him Rawal as Secretaries. Likewise, Rajendra Aryal is elected Treasurer and Parshuram Dahal as Co Treasurer.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	Soon after taking office, President Basnet said the NCC membership of those found guilty in forgery of VAT bills will be annulled. However, he also called on the government to be careful in treating with the businessmen as large majority of them are honest in their dealings. He also suggested adopting multi VAT rate to avoid such problems in the future.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '239',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '315',
			'article_category_id' => '34',
			'title' => 'Ncell Upgrades To Next Generation Technology',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 11pt; letter-spacing: 0.15pt;">N</span><span style="letter-spacing: 0.15pt;">cell, the largest private sector telecom operator has upgraded its network to next generation technology. According to a statement issued by the company, Ncell is the first service provider to use this technology among the TeliaSonera Group which has operations in 20 countries including the Scandinavia and Central Asia. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.05pt;">Pasi Koistinen, the CEO of Ncell said more than 250 experts worked on this project round the clock to upgrade the data of over four million customers. It took nine months to implement and move over to the new system, adds the company. The system was upgraded in the last week of March. The company claims that the new hardware capacity is equivalent to over 1,000 laptops. Five kilometres of cable was installed for the project. </span></div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '238',
			'image' => null,
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			'homepage' => false,
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '314',
			'article_category_id' => '34',
			'title' => 'Nepal, US Sign TIFA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">N</span><span style="font-size: 9.5pt;">epal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC. The agreement is expected to open the possibility of preferential entry of Nepali products to the United States and reduce trade barriers.</span></p>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">TIFA has replaced the 1947 Bilateral Economic and Trade Agreement with the US. Kirk said that the agreement has established institutional framework for bilateral talks to enhance trade and investment between the two countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">After signing the agreement, the first joint meeting&nbsp;was held to discussed and identify market potential of Nepali goods in the US market as well at to expand American investment in Nepal. Nepal is the fourth South Asian country to sign TIFA with US. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The agreement has opened up the possibility to provide Nepali goods duty-free access to the American Market. Due to high tariff in the entry into US market, Nepali goods have failed to compete there. Though the US has committed to the World Trade Organisation provisions to provide duty-free access to 97 per cent of third world country goods, it has not implemented it yet.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Nepal had been enjoying the quota facility until 2005 in exporting garments to the US. After the US scrapped the quota system, garment export, diminished drastically. In 2010, Nepal imported goods worth US $ 28 million from the US. Major products imported from the US are aircraft, machineries and medical equipments. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC.',
			'sortorder' => '237',
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	(int) 9 => array(
		'Article' => array(
			'id' => '313',
			'article_category_id' => '34',
			'title' => 'SC Stays NRB Directives',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">T</span>he Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank. In its order issued early April, the SC said the NRB directives of some nine months ago were found biased against the promoter shareholders.</p>
<div style="text-align: justify;">
	The stay order, was issued by the single bench of Justice Balram KC after hearing on a writ filed by Santu Shrestha, a promoter of Kumari Bank. The order has&nbsp;also asked NRB to submit the logic behind the directive.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank.',
			'sortorder' => '236',
			'image' => null,
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	(int) 10 => array(
		'Article' => array(
			'id' => '312',
			'article_category_id' => '34',
			'title' => 'New Leadership In FNCCI',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">S</span>uraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha,&nbsp;the other candidate.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	&nbsp;Similarly, Bhaskar Raj Rajkarnikar is elected Senior Vice President by the newly formed executive committee of the Federation. Rajkarnikar defeated Kumud Dugar by 37-24 votes. Rajkarnikar is from Vaidya Panel while Dugar represented Shrestha panel.</div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">Likewise, Bhawani Rana, Pradip Jung Pandey and Pashupati Murarka are elected to the post of other Vice Presidents. Rana and Murarka are from Vaidya panel while Pandey represents Shrestha panel. Rana is the first lady Vice President of FNCCI. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Suraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha, the other candidate.',
			'sortorder' => '235',
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '311',
			'article_category_id' => '39',
			'title' => 'Wealth Exchange: The Business Of Patience',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify; text-indent: 0in;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/sanandan singh.jpg" style="width: 138px; height: 176px;" vspace="1" /><span style="color: rgb(178, 34, 34);">Sanandan Singh</span></span></b></div>
<div style="text-align: justify; text-indent: 0in;">
	<span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt; line-height: 120%;">CEO</span></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt;">WEX</span></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);">â€œWe will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€</span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);"><br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 12.5pt;">T</span><span style="font-size: 9.5pt;">he commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago. Registered in March 2010, WEX began its operations from November 2010 as a spot exchange. It is the first spot exchange in Nepal where the number of futures exchanges is three.&nbsp;Sanandan Singh, the CEO of WEX said that the company entered the market at the right time. â€œThis is our soft launching and the big one is yet to comeâ€™â€™, he added. The company is preparing to formally inaugurate its business amid a special function. Singh believes that something substantial like a good profit is required for an entry with a bang. â€œWe are waiting for doing right thing at the right time,â€ he said.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">In the embryonic market that has just three commodities exchanges, WEX entered as the fourth company with a difference. Singh said that the Meta Trader 4 distinguishes the company from the rest. â€œMeta Trader 4 is a strong marketing tool for us,â€ Singh remarked. He explained the reasons for choosing the particular software as, â€œThere is competition in the market and competitors have their own client and niche market. We wanted to introduce a product that is world renowned. And the software has helped to attract business for us.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX specialises in gold and silver. However, the company has the vision to expand its services further with various commodities. There are around 30 commodities traded across the globe. At WEX, gold and silver is virtually traded online with a margin, however, the company claims it can make physical delivery of gold and silver if the clients demand, subject to government regulation. â€œWe have determined Rs 70,000&nbsp;as the margin for a kilogram of gold which is a standard lot. For silver, the standard lot is 30 kg.â€ Recently, due to the demand of the investors, mini lot of 100 grams of gold has been introduced too.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">About choosing gold and silver for trading, Singh said, â€œIn Nepal, awareness among the investors about commodities trading may further facilitate the investment climate and other products can be included in the long run. However, gold and silver are the most traded items in the world and known by all.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Trading at WEX does not require bags of solid gold with you. Just a few clicks online and the job is done â€“ thanks to the automated system. Clients make deposits online through the exchangeâ€™s banking partner Bank of Kathmandu and the amount is later transferred into the trading platform. Buying and selling to profits and losses are all counted and transferred online.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">There is a unique chain of communication between the company and the clients. The chain includes a clearing member which is in direct contact with WEX and that is followed by brokers and finally the clients. It is actually the brokers who make clients. The organisational communication adopted is vertical. Singh said, â€œWe go down the line while they (clients and members) come up the line. Customers are not only of the brokers but also of the exchange.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX takes membership fees from clearing members and that is passed onto the brokers who may <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1(1).jpg" style="width: 324px; height: 196px;" vspace="1" />pass this on to their customers. Singh said that the software is the most expensive part of operation of an exchange. He reveals that the company has already reached the breakeven point if the cost of software is excluded. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Though the company is target oriented, Singh says there are no plans to make millions of rupees within a few months. Stating his companyâ€™s growth strategy he says, â€œWe will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€&nbsp;Singhâ€™s principle is â€˜Slow and steady wins the race.â€™ He said that the team is dedicated on strengthening the foundation. He claimed, â€œAfter laying the foundation stone, we have already risen above the ground. We are receiving feedback and we welcome criticism because it is a form of recognition too. The suggestion and feedback requested from us by the Securities Board of Nepal (SEBON) is an example of that.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has marketed itself saying, â€˜A majority of our clients will be in profit, provided they conduct a proper technical and fundamental analysis.â€™ Singh says the company wonâ€™t have any problem even if 100 per cent of its clients benefit. He defies the rule â€˜someone has to lose when someone wins.â€™ Normally when a client makes profit, the exchange would be in loss. He clarifies, â€œWe have managed the risk. Our philosophy is that clients may profit as much as they can. We are competent enough to pay them.â€ Singh said that the earning of the exchange is nominal. While 70 per cent of the commission of a standard lot is passed on to the brokers, 30 per cent is shared by the clearing member and the exchange.&nbsp;Currently, WEXâ€™s objective is high turnover in low margin. The company has set the target of minimum trading of standard lots for a month.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Singh presently sees limited encouragement among clients. â€œBut we hope it will get better with time,â€ he said. According to Singh, though people have the money to invest they are reluctant to come into this sector due to their lack of knowledge about it. For that, the company has tied with Commodities Trading Institute for WEX certified courses for potential as well as existing clients and brokers. The company hopes to gain substantial momentum after some idea about this market is developed among the potential clients.&nbsp;When the number of brokers increases, the company receives software charge and membership fees which are the income of the company. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Currently, there are around 100 clients and 16 brokers of WEX. The company has chosen to increase the clients by spreading knowledge about the commodities market and skills to do trading. Until now, the company has given orientation classes free of cost to 100 - 150 potential clients. The company considers this as an act of Corporate Social Responsibility even before starting to make any profits.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to invest further in Corporate Social Responsibility (CSR) after it makes a strong foothold in the market. For now, the company likes to call its orientation classes and its responsible operation as CSR activities.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company believes in good governance, transparency, decentralisation and system-run mechanism. Singh says, â€œWe donâ€™t believe in one man decision. It has to be a group decision always.â€ High moral ethics, integrity, discipline etc are must for anyone in the company. Currently, there are 12 staff members in WEX. â€œOur philosophy is that everyone in the office must have high degree of ethical standards, honesty and competency. â€˜Salary is no bar for deserving candidatesâ€™ is our philosophy of human resource management and we guarantee a highly motivating career.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX does not feel any competition in the real sense. According to Singh, there is competition with three other exchanges but not in service, commission and platform. â€œWe have monopoly as regards Meta Trader 4 and our efficient and professional standards,â€ he added.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Being a new entrant in the market, WEX has some challenges to defeat.&nbsp;Preconceived ideas that everyone will lose in the commodities trading has become the biggest challenge. â€œBrokers feel comfortable with old clients. They bargain unnaturally,â€ said Singh, â€œLimited knowledge and long term strategy are the main challenges we are facing now.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company believes steady growth is the best option for now considering the situation of the country. It is planning to expand its services beyond the Kathmandu Valley.&nbsp;Singh informed that there are already quite a few clients outside the capital. Therefore, expansion into major hubs like Biratnagar, Birgunj, Pokhara, Nepalgunj, Janakpur, Birtamod and Bhairahawa where the company sees immense potential, is in the pipeline. Similarly, WEX is focusing on increasing the number of brokers to 50 and clients to 1,000 in the near future. â€œWe are quality focused. We look for clients who can spare their surplus money, but we donâ€™t advise over stretching their expenses and over trading in the commodities market,â€ he explained.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The commodities market lacks the presence of regulatory authority and WEX strongly feels its requirement. Though there are directives, an Act is yet to be formulated. SEBON is proposed as the regulator by the Ministry of Finance. Singh said that an external regulator is needed for check and balance so that regular inspections are implemented and corrective measures are enacted by the exchanges as required by the regulator from time to time. Singh feels that the regulator can regulate the exchange companies and also help in developing the expertise of national and international standard. This sector is yet to be explored fully by the investors as opportunities are unlimited.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Though registered as a private limited company, WEX is working and looking forward to going public in the near future. It aims at being the premier commodities exchange in the country, managed by a highly professional and dedicated team for contributing towards the growth of this sector by disseminating knowledge and investment opportunities to investors.&nbsp;&nbsp; </span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">WEX is confident that the commodities market will grow tremendously and become popular in the days to come that open the new vista of investment and speculative trading to people in general. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	SWOT Analysis</div>
<div style="text-align: justify;">
	Strengths:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; First Spot exchange in Nepal specialising in Gold and Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Huge capability to facilitate the most complex and demanding trading. The WEX Platform offers trading 24 hours a day throughout the trading week which is more than any other exchange in the country</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; The liquidity of trading is largest and most diverse. Ability to execute large purchases and sales orders quickly and efficiently</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; WEX market is fair, transparent and anonymous and its electronic trading platform offers the same opportunity for all participants</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Good corporate governance with experienced team</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; First commodity exchange to introduce mobile trading</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Contract does not expire in SPOT exchange unlike&nbsp;in future exchange</div>
<div style="text-align: justify;">
	&nbsp;Weaknesses:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Specialisation in two commodities.&nbsp;Unable to provide service to investors having interest in other commodities</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Teething problems as WEX is in its initial stage</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Unable to expand its potentials in the absence of a government regulator</div>
<div style="text-align: justify;">
	Opportunities:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Huge market potential</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; By-product of commodities market is not practised</div>
<div style="text-align: justify;">
	Threats:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Unstable political situation</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inadequate knowledge of commodities market</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Quick Facts</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Incorporated&nbsp;at Company Registrar of Nepal on 18 March 2010</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Came into&nbsp;operation from 11 Nov 2010</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Number of Trading Members: 17</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Number of active traders: More&nbsp;than 300</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Strategic Bank: Bank of Kathmandu</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Traded Commodities: Gold and Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Minimum Trading Size: 100 gm Gold and 5 Kg Silver at Rs 7,000 Margin</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Trading Platform: Meta Trader 4</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Spread (difference of bid and ask): 20 on Gold and 1 on Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Coverage outside the valley : 20 per cent</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction (standard lot): approximately 1,250</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction by number: 1,860</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction by individual investor: approx 6</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual&nbsp;trading member target: 30</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual&nbsp;target of active investors: 2,000</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual target coverage outside Kathmandu Valley: 35 per cent of total</div>
<div style="text-align: justify;">
	<i><span style="font-size: 8pt;">Source</span></i><span style="font-size: 8pt;">: WEX</span></div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '2011-06-03',
			'keywords' => '',
			'description' => 'The commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '310',
			'article_category_id' => '39',
			'title' => 'Kist Bankâ€™s Social Service',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus.jpg" style="width: 204px; height: 183px;" vspace="1" />W</span>ith a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services. Kamal Prasad Gnawali, the Managing Director of the bank says, â€œKist Bank stands for customersâ€™ convenience and support. We always look forward to serve them by understanding their needs and designing tailored products.â€</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Kist Merchant Banking and Finance was initially incorporated as a â€˜Câ€™ category financial institution in 2003 for undertaking limited banking activities. It started commercial banking activities as Kist Bank Limited from 7 May 2009. Starting with seven employees in 2003, it has 582 people in its ranks today. The bank has deposits to the tune of Rs 16 billion and loans of Rs 13 billion in current fiscal year 2010-11. In the last fiscal year 2009-10, the deposits and loans stood at Rs 15 billion and Rs 12.5 billion respectively.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The bank is driven by values of efficiency in operations, integrity and a strong focus on catering the needs of every customer by offering high quality and cost effective products and services. The management team along with its dedicated employees operate in a highly automated environment. It has put in substantial efforts and investments in acquiring the best technologies available to build necessary banking infrastructure. The bankâ€™s superior information technology and communication systems enable delivery of prompt and quality services.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.1pt;">Due to its wide network of branches, a sizeable population has access to its banking services where most value added services come free of cost. Gnawali says that the transition to a full-fledged bank in 2009 was a major turning point in the companyâ€™s history. â€œIt was a challenge in terms of manpower, market perception and expectations,â€ he admits.&nbsp;Having pioneered many products in Nepalâ€™s financial sector, the bank these days does not pursue matters aggressively. It rather believes in a controlled business approach and focuses on individuals and SMEs as its clients.</span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">A young bank with its employees averaging 26 years of age, it believes in a democratic style of working. The staff equation is well taken care of by maintaining a good balance between senior and junior employees. The human resource department at the bank conducts training every week to increase the efficiency of its workforce. Kist Bank believes in having a participative management and ensures easy access and direct approach among its employees. Gnawali was the First Runner Up at the prestigious MAN Awards 2010 under â€˜Manager of the Yearâ€™ category. â€œAny award that I receive is because of the bank and not for me as an individual,â€ he says giving credit for his personal success to the bankâ€™s management team. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<strong>Commitment to CSR</strong></div>
<div style="text-align: justify;">
	For Kist Bank, corporate social responsibility (CSR) has always been a top agenda. It means embracing responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and the public at large. Gnawali explains, â€œIt helps us manage our business responsibly and sensibly for long term sustainable banking.â€</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<strong>Some CSR commitments of the bank include:</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Cash Assistance to Cyclist Puskar Shah</span></b></div>
<div style="text-align: justify;">
	The bank honoured cyclist Puskar Shah as its goodwill ambassador and assisted him during his world cycling tour of 150 countries. It also provided a cash assistance of Rs 442,417 to Shah for his expedition to Mount Everest. Shah took to the summit the national flags of the countries he visiteda as well as a banner with the Kist Bankâ€™s logo.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Society of Economic Journalists (SEJON)</span></b></div>
<div style="text-align: justify;">
	The bank has provided a cash assistance of Rs 500,000 to SEJON to establish a revolving fund to provide annual award to three economic journalists. The bank hopes that this award will be an additional incentive to the journalists.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Traffic Awareness Programme</span></b></div>
<div style="text-align: justify;">
	With the objective to raise the awareness among the commuters and drivers of public transport vehicles in urban areas, the bank has provided an assistance of Rs 240,000 to create 20,000 traffic awareness stickers. These stickers were pasted on public vehicles in coordination with Namuna Sadan and Media Agency.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Cataract Surgery</span></b></div>
<div style="text-align: justify;">
	The bank provided Rs 12,500 for cataract surgery of five ophthalmic patients in an eye camp organised with the initiation of Reyukai Masunga Eye Hospital, Banepa.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Gaurishankar Campus</span></b></div>
<div style="text-align: justify;">
	The bank provided cash and kind equivalent to Rs 84,000 for an enlightening discourse programme on Bhagawat Geeta aimed at collecting funds to convert Gaurishankar College at Charikot, Dolakha into a University.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Street Lights</span></b></div>
<div style="text-align: justify;">
	Four street lights worth Rs 24,000 were installed at main road in Kalanki, Kathmandu in coordination with LOYUS, an NGO.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">River Conservation and Tree Plantation</span></b></div>
<div style="text-align: justify;">
	Under the initiation of National Nature Conservation Fund, the bank provided Rs 15,000 for planting 100,000 trees on the banks of Bagmati River.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Children Memorial Monument and Garden</span></b></div>
<div style="text-align: justify;">
	A financial assistance of Rs 200,000 was made to Vishwo Shanti Prachar Manch, an NGO, for the construction of children memorial monument and garden near the entrance of Tribhuvan International Airport.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Plans</span></b></div>
<div style="text-align: justify;">
	The bank says it has always been giving prime focus on physical infrastructure and human resource development. It has laid emphasis on acquiring state-of-the-art information technology to ensure the most secure transaction and remain competitive. It has enhanced its distribution outlet to reach un-banked areas and serve people with banking services.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	A few key plans of the bank are:</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Having acquired VISAâ€™s Associate Membership in 2011, the bank is set to launch VISA accredited credit and debit cards this year. Presently, the bank has 150,000 debit card holders on its rolls.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Last year, the company focused on expansion and building internal strength. Situation permitting and with a favourable environment, the bankâ€™s dream this year is to turn multinational and extend its banking services to countries that have sizeable Nepali Diaspora.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Increase customer base to 500,000 from the present 300,000.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank currently provides services to customers from its own buildings in Anamnagar, Birtamod, Damak, Biratnagar and Narayangarh. It wants to have own bank buildings at all possible branch locations. A multi-storey building which will house the bankâ€™s main branch and head office is presently under construction at Anamnagar, Kathmandu.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Too many players in the market have resulted in quality manpower crunch. To counter this, the bank plans to develop a competitive workforce to undertake higher responsibilities. Its training and development department bears the responsibility to train qualified individuals hired by the bank.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Expand its remittance business making it accessible to a larger section of the population.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Develop and launch innovative and customer-friendly products to meet the needs of people deprived of banking services. The bank has a research and development wing that carries out research effecting this direction.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Support the investors to start large infrastructure development projects in the country.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank also plans to promote micro finance to develop self sustainable enterprises and make individuals self-reliant.</div>
<div style="text-align: justify;">
	<strong>Vision and Mission</strong></div>
<div style="text-align: justify;">
	Kist Bankâ€™s vision is to become the best bank based on operational excellence and superior financial performance. It remains open to the idea of a merger. The bank aspires to become a leading bank by providing best quality financial products and services to its customers, enhancing shareholders value, creating excellent growth opportunity for its employees and contributing to the economic prosperity of the country.&nbsp;</div>
<div style="text-align: justify;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal prasad.jpg" style="width: 140px; height: 186px;" vspace="1" />Kamal Prasad Gnawali</span></b></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<span style="font-size: 7pt; line-height: 120%;">Managing Director</span></div>
<div style="text-align: justify;">
	<span style="font-size: 7pt; line-height: 115%;">Kist Bank</span></div>
<div style="text-align: justify;">
	â€œThe transition to a full-fledged bank in 2009 was a major turning point in the companyâ€™s history. It was a challenge in terms of manpower, market perception and expectations,â€</div>
<div style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);">Kist Bank Briefs</span></div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The authorised capital is Rs 5 billion and the issued and paid-up capital Rs 2 billion.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> 60 per cent of the paid-up capital is held by the promoters and remaining 40 per cent by the general public.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The shares of the bank are listed at Nepal Stock Exchange Limited (NEPSE) as â€˜Aâ€™ category shares.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span><span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The seven-member Board of Directors (BOD) has three Directors representing the promoters, two representing the general public and one representing the Professional Director.</span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	SWOT Analysis</div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<b><span style="">Strengths: </span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Young and career-oriented workforce</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Good relations between Promoters and Directors</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Quick implementation of ideas</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> A sound infrastructure</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Impressive range of products</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Promotersâ€™ trust in the institution</div>
<div style="text-align: justify;">
	<b><span style="">Weaknesses:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">* </span>Comparatively new entrant in the market</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Limited exposure in corporate banking</div>
<div style="text-align: justify;">
	<b><span style="">Opportunities:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Foray into corporate banking</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Further business expansion and development</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Build on existing infrastructure</div>
<div style="text-align: justify;">
	<b><span style="">Threats:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Mushrooming competitors</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Political instability</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Unhealthy competition</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '2011-06-03',
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			'description' => 'With a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services.',
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		'Article' => array(
			'id' => '309',
			'article_category_id' => '31',
			'title' => '˜We Are Looking Into Nepal's Hydro And Highways"',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;"><img align="left" alt="" border="2" height="296" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img6.jpg" style="width: 203px; height: 296px;margin:10px;padding:10px;" vspace="1" width="203" />Atul Punj</span><span style="font-size: 12pt;">, the Chairman of Punj Llyod Ltd“ a diversified international conglomerate offering EPC services in Energy and Infrastructure “ was in Kathmandu recently on the invitation of Entrepreneurs Organisation. A US$ 2.4 billion turnover company, Punj Llyod Group has built projects across the world and continues to provide integrated design, engineering, procurement, construction (EPC) and project management services for the energy, infrastructure and petrochemical sectors. In an interview with New Business Age, Punj talked about his company's possibilities of working in Nepal. Excerpts:<br />
	<br />
	</span></div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>What's the purpose of your visit to Nepal this time?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	This is actually my first visit to Kathmandu. I was invited here by the Entrepreneurs™ Organisation to speak on entrepreneurship. It also gives me an opportunity to explore and get a feel of the city and the country and see what's happening.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong>Could you please elaborate on Punj Lloyd's business activities?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We cover everything from urban infrastructure to expressways. We operate through our twenty international offices and entities across the Middle East, the Caspian, Asia Pacific, Africa, South Asia, China and Europe. The ideology is that we move into a country and localise operations there as quickly as possible. We make sure that we are seen as a local company rather than a foreign entity that has come in only to explore business opportunities. So, we invest a lot of time and money in training people and imparting specialised skills.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Our Group's three brands - Punj Lloyd and PL Engineering headquartered in India and Sembawang Engineers &amp; Constructors in Singapore, each with their own subsidiaries and joint ventures, converge to offer complementary services, rich experiences and the best practices from across the globe. We offer EPC solutions across a wide spectrum of businesses: pipelines, tanks, terminals, refineries, power plants, airports and rail transit systems among others.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>What are the key strengths of your group? What sets you apart from your competitors?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	The key strengths would be our varied experience and rich knowledge of local conditions. Ours is a 23,000 strong skilled multicultural workforce that has the experience of working in different geographies and diverse terrain. We set high standards of health, safety, quality and environment and have received accolades and recognitions from industry bodies and clients.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-indent: 0in; text-align: justify;">
	We have the ability to manage operations in diverse industries and economies, long-term relationships with world-class clients and mobilising financial resources. The huge fleet of equipment Punj Lloyd owns gives the company an edge over its competitors.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>Punj Lloyd is said to be committed to the cause of community enrichment. How do you go about achieving that?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	In our pursuit of business, we endeavour to uplift the communities where we operate. Social and environmental concerns are closely interwoven in Punj Lloyd Group's core practices and decision making. From providing education to many underprivileged children through its own school to enriching the lives of thousands of workers at its sites, we are committed to the cause of community enhancement.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>A number of construction and infrastructure related projects in Nepal are being talked about of late. What has kept Punj Lloyd from getting involved so far?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	I think the major reason for this has been the political instability here. Nobody knows which direction the country is heading towards. Hopefully, things will settle down sooner or later. The opportunities are definitely very large particularly in the hydropower area. Highway is another huge opportunity. We will look into it and see how we can take advantage of these.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>How do you view the current business environment of Nepal? What areas of feasible business opportunities do you see for your company here?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	<span style="letter-spacing: 0.1pt;">I think the opportunities for businesses in this country will be largely based on political stability. Of course, there is a lot of investment and capital required to get the economy back to a position of strength. There is immense hydroelectricity potential in Nepal. The opportunity to produce and export power to India and other countries in the region is enormous. So, the relevance of hydropower is quite natural to us. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>It might interest you to know that most projects in Nepal face local opposition.&nbsp;How do you handle such situation in locations that you have been working?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Well, it's no different in India either. Any vibrant democracy which is developing has the same people power issue. Building roads, land acquisition etc are critical issues to deal with. It's important to talk to the local population and make them understand the benefits that the project will bring to them. For instance, you can build schools and primary healthcare centres for them and also offer employment.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	I think communities do understand that projects can make a contribution towards their development. We have learnt this over the years and therefore, we have an excellent track record for successful completion of projects within tight schedules. This lends credibility to the Group and encourages clients to trust it with repeat orders.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>Are you looking at possibilities of partnering the Chaudhary Group here? Is there a certain time period you are looking at to commence operations in Nepal?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Everything is open right now. We are looking at opportunities depending on how they unfurl. We hope to start sometime within this year depending on how soon we can formalise things.&nbsp; <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.15pt;"><br />
	</span></div>
<div style="text-align: justify;">
	 </div>',
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			'title' => '“We Are Innovators, Not Followers”',
			'sub_title' => '',
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			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;"><img align="left" alt="" border="2" height="259" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img5.jpg" style="width: 259px; height: 259px;margin:10px;padding:10px;" vspace="1" width="259" />Bernard Lee Meng Sum</span><span style="font-size: 12pt;"> is the Deputy General Manager (International Marketing and Investment) of Demak Motors, a two wheeler manufacturer based in Malaysia. He was in Kathmandu recently to launch two motorcycles models of his company through its dealer Agni Incorporated Pvt Ltd. Demak Motors won the Golden Bull Award 2010 for being one of the 100 outstanding SMEs in Malaysia. The company plans to penetrate&nbsp;the East and South East Asian markets in the foreseeable future. In an interview with New Business Age, Meng Sum shared his ideas on Demak Motors market prospects in Nepal. Excerpts:</span></div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong>Why is Demak Motors attracted to Nepal ?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We have been keeping track of the market potentials for bikes in Nepal. Quite naturally, we see a very good growth here. We would like to be the number one in the Nepali market as a Malaysian brand. This year, our corporate strategy is to expand in the East Asian market and Nepal. We have tied up with a very good company, Agni Incorporated, to penetrate the potential market here.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>You have launched two models of Demak bikes. Is there any particular reason for choosing these two models over others?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Our market study revealed that dirt bikes and cruisers have large potential in Nepal. As you can currently see, the Nepali market is monopolised by street bikes. We surely are going to introduce more models with time. These will include scooters, electric motorcycles and hybrid scooters which have not been seen in the Nepali market as yet.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Who do you see as major competitors for your bikes here?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We don't see anyone as a competitor right now. We are the innovators rather than the followers. We don't consider ourselves as competing against Indian brands. But we will position ourselves as the market leader in the dirt bikes and cruisers segment of the market.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>How is Demak doing in the Philippines where it entered recently?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We are doing quite well in Philippines right now. The Philippines market is completely different than Nepal in terms of economy and market environment. We are currently the number five brand in Philippines but we will rise to number four next year.<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>What sort of growth do you expect in Nepal business?&nbsp;</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	It looks a fantastic market to us. Nepal is located between China and India who have several automobile giants in their ranks. As a Malaysian brand, we are proud to have entered the Nepali market. It takes an extensive effort for us to be here. We hope it will be a success story in the coming days for the entire East Asian market.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Which segment of the market are you targeting to sell your bikes?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Well, it is a huge market. We are offering products that are different, classic and nostalgic. We are targeting college boys and teenagers in the age range of 20 to 28 years.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>What is the sales target you have in mind for the first year in Nepal?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	For the first year, we are looking at selling 2,000 units. In the consequent years, we plan to grow at 10 percent on a yearly basis.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Your company won the Golden Bull Award 2010 for being one of the 100 outstanding SMEs. What kind of strategies did the company adopt to find such success within seven years of operation?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We believe in our marketing, our products and the wonderful teamwork that we have in our company. The Chinese philosophy which we practice in Malaysia is: there is no mountain that we cannot conquer as long as we put hard work and dedication to our assignments.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>You are establishing a production plant in Sri Lanka. Can you tell us about it?</strong></div>
<p style="text-align: justify;">
	<span style="font-size: 12px;"><span style="line-height: 115%;">Sri Lanka will be the export hub for us to penetrate the East Asian and South Asian markets.&nbsp;We chose Sri Lanka because this is the shortest distance in terms of distribution of our products to Nepal, Bhutan and our next target market India. We see potential in India for our dirt bikes, specially our scooters and electrical bikes.</span><br />
	</span></p>',
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			'title' => 'Bhansa Gas Hits The Market',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">R</span>ijal Group has started selling Bhansa gas in the market beginning April 12. The cooking gas is produced by Rijal Group, which has made its name as the producer of poly-tanks. The gas is available in 14.2 kg at present. Nabin Rijal, the Managing Director of the company said that the gas will be available in the eastern region in the first phase. â€œGradually we will provide our product all over the country,â€ he assured.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Rijal claimed that the current production will be distributed in the areas of eastern region as there is scarcity of cooking gas there at present. The company has a filling capacity of 3,000 cylinders each day. However, it is currently filling only 1,000 cylinders per day. The plant has the capacity to store 200 metric tonnes of gas.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company will purchase gas from Nepal Oil Corporation and cylinders from Nepali as well as Indian producers. More than 70 people have received direct employment in the company.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The company claimed that Bhansa gas meets all security and quality requirements. Rijal claimed Bhansa gas contains 14.2 kg of gas as specified on the cylinder. He added that the plant has installed state-of-the-art risk management mechanism to prevent accidents. The plant has a provision to store 500 thousand litres of water to extinguish fire in case of an emergency.<br />
	Â </div>
<div style="text-align: justify;">
	The company has planned to invest Rs 100 million for capacity expansion.</div>',
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			'title' => 'Samsung Plans $ 700 M Investment In India',
			'sub_title' => '',
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			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 14pt;">S</span><span style="font-size: 9.5pt;">amsung is investing US $ 500 million to 700 million in the current year in India. Jung Shoo Shin, President and CEO, Samsung South West Asia revealed this plan at the Samsung Forum 2011 held in New Delhi on April 13 and 14. Shin said IRs 3.5 billion will be invested to establish Channel Plant to increase production. He added, â€œTo achieve our target, we have prioritised the aggressive market strategy.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">During the forum, the company informed that it introduced 60 new products in the Indian market. The company introduced laptops, Galaxy Tab 10.1, Galaxy S 2, Talking Microwave, Blu-Ray Home Theatre and Four-Door Refrigerator among other products. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to realise a business worth US $ 4.9 billion from India alone. Shin said that India and other Southwest Asian countries did a business of US $ 3.5 billion in 2010. He speculated, â€œWe have expected the growth of all Samsung products by 40 per cent this year.â€ He added the products introduced in Indian market will be available in Nepal, Bangladesh and Sri Lanka around one-and-a-half month later. Samsung enjoys 51 per cent market share in the Asian countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">â€œWe have expected India to hold 5 per cent of the world market,â€ Shin said. Samsung India (Mobile and IT) Director, Ranjit Yadav said that his company is determined to meet the target.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Shin said there is no immediate plan to increase investment in Nepal, Bangladesh and Sri Lanka. He said, â€œThere is no political stability in Nepal, so, we canâ€™t say anything about increasing investment right now.â€ He added, â€œHowever, we know Nepal is a good market for Samsung products.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">He revealed that Samsung is ready to contribute for Corporate Social Responsibility in Nepal if the political situation eases. He promised to make its strong presence in Nepal after political stability is attained.</span></div>',
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			'article_category_id' => '34',
			'title' => 'Trade Union, Ministry Reach Agreement',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt; letter-spacing: -0.2pt;">T</span><span style="letter-spacing: -0.2pt;">he trade unions that were protesting for three weeks demanding a raise in the minimum wage finally called off their strike after the Ministry of Labour and Transport Management (MLTM) agreed on April 15 to increase the minimum wage of factory workers to Rs 6,400 from Rs 4,600. However, the business community has been objecting to this agreement as it negates another agreement already signed by the business community with the major national level trade unions. The Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and Confederation of Nepalese Industries (CNI) have already signed an agreement with the nationally recognised national level trade unions that are affiliated to the major political parties such as CPN-UML, Nepali Congress and Unified Maoists. The MLTM agreement is signed with new groups of trade unions affiliated to the Madhesi parties and a splinter group of the Maoists.&nbsp;The group that calls itself Inclusive Trade Union Federation had filed a case in the Supreme Court challenging the agreement that the business community had signed with the national level trade unions. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">According to the agreement signed by MLTM, the minimum wage has been increased by Rs 500, dearness allowance by Rs 1100 and the daily wage is increased to Rs 231 from Rs 190, said Purna Chandra Bhattarai, the Spokesperson at the MLTM. He added that the wage increase was agreed under the auspices of Minister of Labour and Transportation Management Top Bahadur Rayamajhi. Bhattarai also informed that the Inclusive Trade Union Federation has agreed to withdraw the case it had lodged in the SC. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: -0.2pt;">The Inclusive Trade Union Fedration had demanded the cancellation of 5th, 6th and 11th points of the agreement made on March 24 by the buisness community. It had also demanded 60 per cent increment in minimum wages and 40 per cent increase in allowances and to provide festival allowance to all workers. They also argued that the deduction of social security tax should start only after the implementation of Social Security Act. </span></div>
<div style="text-align: justify;">
	Â </div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">However, the agreement with the Ministry is only for minimum wage. Badri Prasad Bajgain, the Coordinator of the splinter group of Maoist-affiliated All Nepal Trade Union Federation said that discussions on other points will be held later. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '243',
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	),
	(int) 3 => array(
		'Article' => array(
			'id' => '319',
			'article_category_id' => '34',
			'title' => 'Committee For Rehabilitation Of Sick Industries',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 13pt;">E</span><span style="font-size: 9.5pt;">conomic and Labour Relation Committee (ELRC) under the Legislature Parliament has directed the formation of a high level body to rehabilitate the sick industrial units. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed body would identify, declare and rehabilitate the sick units and prepare long term policies for addressing industrial sickness. Dr Tilak Rawal, a Member of the ELRC said that the proposed body would help settle the problem of industrial sickness in a speedy manner and prepare laws to address such problem in the long term.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The proposed body, will have representatives from the Ministries of Industry, Finance, Land Reforms and Management and Labour and Transportation Management as well as the National Planning Commission, Nepal Rastra Bank, Federation of Nepalese Chambers of Commerce and Industries and Nepal Bankers Association. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '242',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
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		)
	),
	(int) 4 => array(
		'Article' => array(
			'id' => '318',
			'article_category_id' => '34',
			'title' => 'Credit Rating Regulations Early May',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="">S</span><span style="font-size: 9.5pt;">ecurities Board of Nepal (SEBON) has said that the Credit Rating Regulations would be implemented within early May. Dr Surbir Paudyal, the Chairman of SEBON, informed during a discussion programme held on April 5 that the regulation is expected to be approved by then incorporating suggestions received from the private sector.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Establishment of the credit rating agency would to bring a discipline in the countryâ€™s capital and money markets by providing the investors a fair idea about the risk involved in investing in the company or the investment instrument concerned. However, the participants at the interaction suggested SEBON to arrange for avoiding bias in the ratings.&nbsp;</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The proposed regulations have provisions that make it mandatory to have a credit rating of all the public issues of sizes exceeding Rs 100 million. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Basudev Adhikari, a Director of Nepal Rastra Bank suggested to lower this threshold to somewhere like Rs. 30 million as many issues in Nepal are lower than Rs. 100 million. â€œWhen the regional level development banks issue shares to the public, the issue size is less than Rs 100 million,â€ he said and asked for arranging that even such issues get rated.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Two companies have already applied to the board for license to operate as rating agency. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '241',
			'image' => null,
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			'homepage' => false,
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	),
	(int) 5 => array(
		'Article' => array(
			'id' => '317',
			'article_category_id' => '34',
			'title' => 'West Seti License Terminated',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 10pt;">T</span><span style="font-size: 9.5pt;">he license of West Seti hydroelectricity project is now as good as terminated. A source at the Ministry of Energy said the license is being cancelled based on the reply sent by the license holder company West Seti Hydro Pvt Ltd.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The Department of Electricity Development had sent a letter to the company on February 13 demanding clarification as to why the company had failed to work as per the agreement and arrange the necessary financial resources. In the clarification submitted in the last week of March, the company has expressed readiness to sit for talks for developing the project on Public Private Partnership (PPP) model.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Sunil Bahadur Malla, the Director General of the department said, â€œPPP is not the model we envisioned and agreed for West Seti. So, we have moved ahead for the cancellation of license.â€ </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">The source at the ministry said the final decision on the cancellation of license and new ways to develop the project will be decided by the council of ministers. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '240',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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	),
	(int) 6 => array(
		'Article' => array(
			'id' => '316',
			'article_category_id' => '34',
			'title' => 'Basnet Elected NCC Chief',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13pt;">S</span>uresh Kumar Basnet has been elected unopposed as the President of Nepal Chamber of Commerce (NCC). It was decided by the the first meeting of the Executive Committee of the NCC elected by its 58th annual general meeting.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Lok Manya Golchha is elected Senior Vice-President while Gyanendra Lal Tuladhar is the first Vice-President and Rajendra Malla is Second Vice-President. Similalry, Kamalesh Kumar Agrawal is elected General Secretary and Nilakantha Chaulagain, Devendra Bhakta Shrestha, Santosh Pandey and Him Rawal as Secretaries. Likewise, Rajendra Aryal is elected Treasurer and Parshuram Dahal as Co Treasurer.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify; text-indent: 0in;">
	Soon after taking office, President Basnet said the NCC membership of those found guilty in forgery of VAT bills will be annulled. However, he also called on the government to be careful in treating with the businessmen as large majority of them are honest in their dealings. He also suggested adopting multi VAT rate to avoid such problems in the future.</div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '239',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 7 => array(
		'Article' => array(
			'id' => '315',
			'article_category_id' => '34',
			'title' => 'Ncell Upgrades To Next Generation Technology',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 11pt; letter-spacing: 0.15pt;">N</span><span style="letter-spacing: 0.15pt;">cell, the largest private sector telecom operator has upgraded its network to next generation technology. According to a statement issued by the company, Ncell is the first service provider to use this technology among the TeliaSonera Group which has operations in 20 countries including the Scandinavia and Central Asia. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.05pt;">Pasi Koistinen, the CEO of Ncell said more than 250 experts worked on this project round the clock to upgrade the data of over four million customers. It took nine months to implement and move over to the new system, adds the company. The system was upgraded in the last week of March. The company claims that the new hardware capacity is equivalent to over 1,000 laptops. Five kilometres of cable was installed for the project. </span></div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => '',
			'sortorder' => '238',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
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		)
	),
	(int) 8 => array(
		'Article' => array(
			'id' => '314',
			'article_category_id' => '34',
			'title' => 'Nepal, US Sign TIFA',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">N</span><span style="font-size: 9.5pt;">epal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC. The agreement is expected to open the possibility of preferential entry of Nepali products to the United States and reduce trade barriers.</span></p>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">TIFA has replaced the 1947 Bilateral Economic and Trade Agreement with the US. Kirk said that the agreement has established institutional framework for bilateral talks to enhance trade and investment between the two countries.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">After signing the agreement, the first joint meeting&nbsp;was held to discussed and identify market potential of Nepali goods in the US market as well at to expand American investment in Nepal. Nepal is the fourth South Asian country to sign TIFA with US. </span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The agreement has opened up the possibility to provide Nepali goods duty-free access to the American Market. Due to high tariff in the entry into US market, Nepali goods have failed to compete there. Though the US has committed to the World Trade Organisation provisions to provide duty-free access to 97 per cent of third world country goods, it has not implemented it yet.<br />
	<br />
	</span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">Nepal had been enjoying the quota facility until 2005 in exporting garments to the US. After the US scrapped the quota system, garment export, diminished drastically. In 2010, Nepal imported goods worth US $ 28 million from the US. Major products imported from the US are aircraft, machineries and medical equipments. </span></div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Nepal and the United States have signed the Trade and Investment Framework Agreement (TIFA) on April 15. Deputy Prime Minister and Finance Minister Bharat Mohan Adhikari and United States Trade Representative Ron Kirk signed the agreement in Washington DC.',
			'sortorder' => '237',
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	),
	(int) 9 => array(
		'Article' => array(
			'id' => '313',
			'article_category_id' => '34',
			'title' => 'SC Stays NRB Directives',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p style="text-align: justify;">
	<span style="font-size: 12pt;">T</span>he Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank. In its order issued early April, the SC said the NRB directives of some nine months ago were found biased against the promoter shareholders.</p>
<div style="text-align: justify;">
	The stay order, was issued by the single bench of Justice Balram KC after hearing on a writ filed by Santu Shrestha, a promoter of Kumari Bank. The order has&nbsp;also asked NRB to submit the logic behind the directive.</div>
<div style="text-align: justify;">
	Â </div>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'The Supreme Court (SC) has ordered the Nepal Rastra Bank (NRB) not to implement its directives that prohibited banks from lending against the security of more than 50 per cent of the shares of a promoter of a bank.',
			'sortorder' => '236',
			'image' => null,
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			'homepage' => false,
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			'main_news' => false,
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	(int) 10 => array(
		'Article' => array(
			'id' => '312',
			'article_category_id' => '34',
			'title' => 'New Leadership In FNCCI',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 9pt;">S</span>uraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha,&nbsp;the other candidate.</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	&nbsp;Similarly, Bhaskar Raj Rajkarnikar is elected Senior Vice President by the newly formed executive committee of the Federation. Rajkarnikar defeated Kumud Dugar by 37-24 votes. Rajkarnikar is from Vaidya Panel while Dugar represented Shrestha panel.</div>
<p style="text-align: justify;">
	<span style="font-size: 11pt; line-height: 115%;">Likewise, Bhawani Rana, Pradip Jung Pandey and Pashupati Murarka are elected to the post of other Vice Presidents. Rana and Murarka are from Vaidya panel while Pandey represents Shrestha panel. Rana is the first lady Vice President of FNCCI. </span></p>',
			'published' => true,
			'created' => '2011-06-03',
			'modified' => '0000-00-00',
			'keywords' => '',
			'description' => 'Suraj Vaidya has been elected as the President of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) during its 45th Annual General Meeting (AGM). Vaidya scored 307 votes against 208 of Ajad Shrestha, the other candidate.',
			'sortorder' => '235',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
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	),
	(int) 11 => array(
		'Article' => array(
			'id' => '311',
			'article_category_id' => '39',
			'title' => 'Wealth Exchange: The Business Of Patience',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-align: justify; text-indent: 0in;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/sanandan singh.jpg" style="width: 138px; height: 176px;" vspace="1" /><span style="color: rgb(178, 34, 34);">Sanandan Singh</span></span></b></div>
<div style="text-align: justify; text-indent: 0in;">
	<span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt; line-height: 120%;">CEO</span></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);"><span style="font-size: 7pt;">WEX</span></span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);">â€œWe will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€</span></div>
<div style="text-align: justify;">
	<span style="color: rgb(178, 34, 34);"><br />
	</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; vertical-align: middle;">
	<span style="font-size: 12.5pt;">T</span><span style="font-size: 9.5pt;">he commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago. Registered in March 2010, WEX began its operations from November 2010 as a spot exchange. It is the first spot exchange in Nepal where the number of futures exchanges is three.&nbsp;Sanandan Singh, the CEO of WEX said that the company entered the market at the right time. â€œThis is our soft launching and the big one is yet to comeâ€™â€™, he added. The company is preparing to formally inaugurate its business amid a special function. Singh believes that something substantial like a good profit is required for an entry with a bang. â€œWe are waiting for doing right thing at the right time,â€ he said.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">In the embryonic market that has just three commodities exchanges, WEX entered as the fourth company with a difference. Singh said that the Meta Trader 4 distinguishes the company from the rest. â€œMeta Trader 4 is a strong marketing tool for us,â€ Singh remarked. He explained the reasons for choosing the particular software as, â€œThere is competition in the market and competitors have their own client and niche market. We wanted to introduce a product that is world renowned. And the software has helped to attract business for us.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX specialises in gold and silver. However, the company has the vision to expand its services further with various commodities. There are around 30 commodities traded across the globe. At WEX, gold and silver is virtually traded online with a margin, however, the company claims it can make physical delivery of gold and silver if the clients demand, subject to government regulation. â€œWe have determined Rs 70,000&nbsp;as the margin for a kilogram of gold which is a standard lot. For silver, the standard lot is 30 kg.â€ Recently, due to the demand of the investors, mini lot of 100 grams of gold has been introduced too.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">About choosing gold and silver for trading, Singh said, â€œIn Nepal, awareness among the investors about commodities trading may further facilitate the investment climate and other products can be included in the long run. However, gold and silver are the most traded items in the world and known by all.â€</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Trading at WEX does not require bags of solid gold with you. Just a few clicks online and the job is done â€“ thanks to the automated system. Clients make deposits online through the exchangeâ€™s banking partner Bank of Kathmandu and the amount is later transferred into the trading platform. Buying and selling to profits and losses are all counted and transferred online.</span></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">There is a unique chain of communication between the company and the clients. The chain includes a clearing member which is in direct contact with WEX and that is followed by brokers and finally the clients. It is actually the brokers who make clients. The organisational communication adopted is vertical. Singh said, â€œWe go down the line while they (clients and members) come up the line. Customers are not only of the brokers but also of the exchange.â€</span></div>
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	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX takes membership fees from clearing members and that is passed onto the brokers who may <img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus1(1).jpg" style="width: 324px; height: 196px;" vspace="1" />pass this on to their customers. Singh said that the software is the most expensive part of operation of an exchange. He reveals that the company has already reached the breakeven point if the cost of software is excluded. </span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Though the company is target oriented, Singh says there are no plans to make millions of rupees within a few months. Stating his companyâ€™s growth strategy he says, â€œWe will make profits in a few years as we have not looked in the short term strategy. Our team has understood this and is committed to the vision of the company.â€&nbsp;Singhâ€™s principle is â€˜Slow and steady wins the race.â€™ He said that the team is dedicated on strengthening the foundation. He claimed, â€œAfter laying the foundation stone, we have already risen above the ground. We are receiving feedback and we welcome criticism because it is a form of recognition too. The suggestion and feedback requested from us by the Securities Board of Nepal (SEBON) is an example of that.â€</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has marketed itself saying, â€˜A majority of our clients will be in profit, provided they conduct a proper technical and fundamental analysis.â€™ Singh says the company wonâ€™t have any problem even if 100 per cent of its clients benefit. He defies the rule â€˜someone has to lose when someone wins.â€™ Normally when a client makes profit, the exchange would be in loss. He clarifies, â€œWe have managed the risk. Our philosophy is that clients may profit as much as they can. We are competent enough to pay them.â€ Singh said that the earning of the exchange is nominal. While 70 per cent of the commission of a standard lot is passed on to the brokers, 30 per cent is shared by the clearing member and the exchange.&nbsp;Currently, WEXâ€™s objective is high turnover in low margin. The company has set the target of minimum trading of standard lots for a month.</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">However, Singh presently sees limited encouragement among clients. â€œBut we hope it will get better with time,â€ he said. According to Singh, though people have the money to invest they are reluctant to come into this sector due to their lack of knowledge about it. For that, the company has tied with Commodities Trading Institute for WEX certified courses for potential as well as existing clients and brokers. The company hopes to gain substantial momentum after some idea about this market is developed among the potential clients.&nbsp;When the number of brokers increases, the company receives software charge and membership fees which are the income of the company. </span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Currently, there are around 100 clients and 16 brokers of WEX. The company has chosen to increase the clients by spreading knowledge about the commodities market and skills to do trading. Until now, the company has given orientation classes free of cost to 100 - 150 potential clients. The company considers this as an act of Corporate Social Responsibility even before starting to make any profits.</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company has plans to invest further in Corporate Social Responsibility (CSR) after it makes a strong foothold in the market. For now, the company likes to call its orientation classes and its responsible operation as CSR activities.</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company believes in good governance, transparency, decentralisation and system-run mechanism. Singh says, â€œWe donâ€™t believe in one man decision. It has to be a group decision always.â€ High moral ethics, integrity, discipline etc are must for anyone in the company. Currently, there are 12 staff members in WEX. â€œOur philosophy is that everyone in the office must have high degree of ethical standards, honesty and competency. â€˜Salary is no bar for deserving candidatesâ€™ is our philosophy of human resource management and we guarantee a highly motivating career.â€</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">WEX does not feel any competition in the real sense. According to Singh, there is competition with three other exchanges but not in service, commission and platform. â€œWe have monopoly as regards Meta Trader 4 and our efficient and professional standards,â€ he added.</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Being a new entrant in the market, WEX has some challenges to defeat.&nbsp;Preconceived ideas that everyone will lose in the commodities trading has become the biggest challenge. â€œBrokers feel comfortable with old clients. They bargain unnaturally,â€ said Singh, â€œLimited knowledge and long term strategy are the main challenges we are facing now.â€</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The company believes steady growth is the best option for now considering the situation of the country. It is planning to expand its services beyond the Kathmandu Valley.&nbsp;Singh informed that there are already quite a few clients outside the capital. Therefore, expansion into major hubs like Biratnagar, Birgunj, Pokhara, Nepalgunj, Janakpur, Birtamod and Bhairahawa where the company sees immense potential, is in the pipeline. Similarly, WEX is focusing on increasing the number of brokers to 50 and clients to 1,000 in the near future. â€œWe are quality focused. We look for clients who can spare their surplus money, but we donâ€™t advise over stretching their expenses and over trading in the commodities market,â€ he explained.</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">The commodities market lacks the presence of regulatory authority and WEX strongly feels its requirement. Though there are directives, an Act is yet to be formulated. SEBON is proposed as the regulator by the Ministry of Finance. Singh said that an external regulator is needed for check and balance so that regular inspections are implemented and corrective measures are enacted by the exchanges as required by the regulator from time to time. Singh feels that the regulator can regulate the exchange companies and also help in developing the expertise of national and international standard. This sector is yet to be explored fully by the investors as opportunities are unlimited.</span></div>
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<div style="margin-bottom: 0.0001pt; text-align: justify; text-indent: 14.15pt; line-height: 11pt; vertical-align: middle;">
	<span style="font-size: 9.5pt;">Though registered as a private limited company, WEX is working and looking forward to going public in the near future. It aims at being the premier commodities exchange in the country, managed by a highly professional and dedicated team for contributing towards the growth of this sector by disseminating knowledge and investment opportunities to investors.&nbsp;&nbsp; </span></div>
<div style="text-align: justify;">
	<span style="font-size: 9.5pt; line-height: 115%;">WEX is confident that the commodities market will grow tremendously and become popular in the days to come that open the new vista of investment and speculative trading to people in general. </span></div>
<div style="text-align: justify;">
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<div style="text-align: justify;">
	SWOT Analysis</div>
<div style="text-align: justify;">
	Strengths:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; First Spot exchange in Nepal specialising in Gold and Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Huge capability to facilitate the most complex and demanding trading. The WEX Platform offers trading 24 hours a day throughout the trading week which is more than any other exchange in the country</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; The liquidity of trading is largest and most diverse. Ability to execute large purchases and sales orders quickly and efficiently</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; WEX market is fair, transparent and anonymous and its electronic trading platform offers the same opportunity for all participants</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Good corporate governance with experienced team</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; First commodity exchange to introduce mobile trading</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Contract does not expire in SPOT exchange unlike&nbsp;in future exchange</div>
<div style="text-align: justify;">
	&nbsp;Weaknesses:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Specialisation in two commodities.&nbsp;Unable to provide service to investors having interest in other commodities</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Teething problems as WEX is in its initial stage</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Unable to expand its potentials in the absence of a government regulator</div>
<div style="text-align: justify;">
	Opportunities:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Huge market potential</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; By-product of commodities market is not practised</div>
<div style="text-align: justify;">
	Threats:</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Unstable political situation</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inadequate knowledge of commodities market</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Quick Facts</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Incorporated&nbsp;at Company Registrar of Nepal on 18 March 2010</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Came into&nbsp;operation from 11 Nov 2010</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Number of Trading Members: 17</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Number of active traders: More&nbsp;than 300</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Strategic Bank: Bank of Kathmandu</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Traded Commodities: Gold and Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Minimum Trading Size: 100 gm Gold and 5 Kg Silver at Rs 7,000 Margin</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Trading Platform: Meta Trader 4</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Spread (difference of bid and ask): 20 on Gold and 1 on Silver</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Coverage outside the valley : 20 per cent</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction (standard lot): approximately 1,250</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction by number: 1,860</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Average Monthly Transaction by individual investor: approx 6</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual&nbsp;trading member target: 30</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual&nbsp;target of active investors: 2,000</div>
<div style="text-align: justify;">
	â€¢&nbsp;&nbsp; Annual target coverage outside Kathmandu Valley: 35 per cent of total</div>
<div style="text-align: justify;">
	<i><span style="font-size: 8pt;">Source</span></i><span style="font-size: 8pt;">: WEX</span></div>
<div style="text-align: justify;">
	Â </div>',
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			'created' => '2011-06-03',
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			'keywords' => '',
			'description' => 'The commodities exchange business is quite young in Nepal. However, the Wealth Exchange (WEX), the newest such exchange of the country is making big strides though it started business only about five months ago.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '310',
			'article_category_id' => '39',
			'title' => 'Kist Bankâ€™s Social Service',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 13.5pt;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/corporate focus.jpg" style="width: 204px; height: 183px;" vspace="1" />W</span>ith a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services. Kamal Prasad Gnawali, the Managing Director of the bank says, â€œKist Bank stands for customersâ€™ convenience and support. We always look forward to serve them by understanding their needs and designing tailored products.â€</div>
<div style="text-indent: 0in; text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	Kist Merchant Banking and Finance was initially incorporated as a â€˜Câ€™ category financial institution in 2003 for undertaking limited banking activities. It started commercial banking activities as Kist Bank Limited from 7 May 2009. Starting with seven employees in 2003, it has 582 people in its ranks today. The bank has deposits to the tune of Rs 16 billion and loans of Rs 13 billion in current fiscal year 2010-11. In the last fiscal year 2009-10, the deposits and loans stood at Rs 15 billion and Rs 12.5 billion respectively.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	The bank is driven by values of efficiency in operations, integrity and a strong focus on catering the needs of every customer by offering high quality and cost effective products and services. The management team along with its dedicated employees operate in a highly automated environment. It has put in substantial efforts and investments in acquiring the best technologies available to build necessary banking infrastructure. The bankâ€™s superior information technology and communication systems enable delivery of prompt and quality services.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.1pt;">Due to its wide network of branches, a sizeable population has access to its banking services where most value added services come free of cost. Gnawali says that the transition to a full-fledged bank in 2009 was a major turning point in the companyâ€™s history. â€œIt was a challenge in terms of manpower, market perception and expectations,â€ he admits.&nbsp;Having pioneered many products in Nepalâ€™s financial sector, the bank these days does not pursue matters aggressively. It rather believes in a controlled business approach and focuses on individuals and SMEs as its clients.</span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<span style="letter-spacing: 0.2pt;">A young bank with its employees averaging 26 years of age, it believes in a democratic style of working. The staff equation is well taken care of by maintaining a good balance between senior and junior employees. The human resource department at the bank conducts training every week to increase the efficiency of its workforce. Kist Bank believes in having a participative management and ensures easy access and direct approach among its employees. Gnawali was the First Runner Up at the prestigious MAN Awards 2010 under â€˜Manager of the Yearâ€™ category. â€œAny award that I receive is because of the bank and not for me as an individual,â€ he says giving credit for his personal success to the bankâ€™s management team. </span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<strong>Commitment to CSR</strong></div>
<div style="text-align: justify;">
	For Kist Bank, corporate social responsibility (CSR) has always been a top agenda. It means embracing responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and the public at large. Gnawali explains, â€œIt helps us manage our business responsibly and sensibly for long term sustainable banking.â€</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	<strong>Some CSR commitments of the bank include:</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Cash Assistance to Cyclist Puskar Shah</span></b></div>
<div style="text-align: justify;">
	The bank honoured cyclist Puskar Shah as its goodwill ambassador and assisted him during his world cycling tour of 150 countries. It also provided a cash assistance of Rs 442,417 to Shah for his expedition to Mount Everest. Shah took to the summit the national flags of the countries he visiteda as well as a banner with the Kist Bankâ€™s logo.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Society of Economic Journalists (SEJON)</span></b></div>
<div style="text-align: justify;">
	The bank has provided a cash assistance of Rs 500,000 to SEJON to establish a revolving fund to provide annual award to three economic journalists. The bank hopes that this award will be an additional incentive to the journalists.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Traffic Awareness Programme</span></b></div>
<div style="text-align: justify;">
	With the objective to raise the awareness among the commuters and drivers of public transport vehicles in urban areas, the bank has provided an assistance of Rs 240,000 to create 20,000 traffic awareness stickers. These stickers were pasted on public vehicles in coordination with Namuna Sadan and Media Agency.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Cataract Surgery</span></b></div>
<div style="text-align: justify;">
	The bank provided Rs 12,500 for cataract surgery of five ophthalmic patients in an eye camp organised with the initiation of Reyukai Masunga Eye Hospital, Banepa.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Gaurishankar Campus</span></b></div>
<div style="text-align: justify;">
	The bank provided cash and kind equivalent to Rs 84,000 for an enlightening discourse programme on Bhagawat Geeta aimed at collecting funds to convert Gaurishankar College at Charikot, Dolakha into a University.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Street Lights</span></b></div>
<div style="text-align: justify;">
	Four street lights worth Rs 24,000 were installed at main road in Kalanki, Kathmandu in coordination with LOYUS, an NGO.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">River Conservation and Tree Plantation</span></b></div>
<div style="text-align: justify;">
	Under the initiation of National Nature Conservation Fund, the bank provided Rs 15,000 for planting 100,000 trees on the banks of Bagmati River.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Children Memorial Monument and Garden</span></b></div>
<div style="text-align: justify;">
	A financial assistance of Rs 200,000 was made to Vishwo Shanti Prachar Manch, an NGO, for the construction of children memorial monument and garden near the entrance of Tribhuvan International Airport.</div>
<div style="text-indent: 0in; text-align: justify;">
	<b>&nbsp;</b></div>
<div style="text-indent: 0in; text-align: justify;">
	<b><span style="">Plans</span></b></div>
<div style="text-align: justify;">
	The bank says it has always been giving prime focus on physical infrastructure and human resource development. It has laid emphasis on acquiring state-of-the-art information technology to ensure the most secure transaction and remain competitive. It has enhanced its distribution outlet to reach un-banked areas and serve people with banking services.</div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	A few key plans of the bank are:</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Having acquired VISAâ€™s Associate Membership in 2011, the bank is set to launch VISA accredited credit and debit cards this year. Presently, the bank has 150,000 debit card holders on its rolls.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Last year, the company focused on expansion and building internal strength. Situation permitting and with a favourable environment, the bankâ€™s dream this year is to turn multinational and extend its banking services to countries that have sizeable Nepali Diaspora.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Increase customer base to 500,000 from the present 300,000.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank currently provides services to customers from its own buildings in Anamnagar, Birtamod, Damak, Biratnagar and Narayangarh. It wants to have own bank buildings at all possible branch locations. A multi-storey building which will house the bankâ€™s main branch and head office is presently under construction at Anamnagar, Kathmandu.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Too many players in the market have resulted in quality manpower crunch. To counter this, the bank plans to develop a competitive workforce to undertake higher responsibilities. Its training and development department bears the responsibility to train qualified individuals hired by the bank.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Expand its remittance business making it accessible to a larger section of the population.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Develop and launch innovative and customer-friendly products to meet the needs of people deprived of banking services. The bank has a research and development wing that carries out research effecting this direction.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> Support the investors to start large infrastructure development projects in the country.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.2pt;">*</span> The bank also plans to promote micro finance to develop self sustainable enterprises and make individuals self-reliant.</div>
<div style="text-align: justify;">
	<strong>Vision and Mission</strong></div>
<div style="text-align: justify;">
	Kist Bankâ€™s vision is to become the best bank based on operational excellence and superior financial performance. It remains open to the idea of a merger. The bank aspires to become a leading bank by providing best quality financial products and services to its customers, enhancing shareholders value, creating excellent growth opportunity for its employees and contributing to the economic prosperity of the country.&nbsp;</div>
<div style="text-align: justify;">
	Â </div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<b><span style="font-size: 8pt; line-height: 120%;"><img align="left" alt="" border="2" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/kamal prasad.jpg" style="width: 140px; height: 186px;" vspace="1" />Kamal Prasad Gnawali</span></b></div>
<div style="margin-bottom: 0.0001pt; text-align: justify; line-height: 120%; vertical-align: middle;">
	<span style="font-size: 7pt; line-height: 120%;">Managing Director</span></div>
<div style="text-align: justify;">
	<span style="font-size: 7pt; line-height: 115%;">Kist Bank</span></div>
<div style="text-align: justify;">
	â€œThe transition to a full-fledged bank in 2009 was a major turning point in the companyâ€™s history. It was a challenge in terms of manpower, market perception and expectations,â€</div>
<div style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);"><br />
	</span></div>
<div style="text-align: justify;">
	<span style="color: rgb(165, 42, 42);">Kist Bank Briefs</span></div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The authorised capital is Rs 5 billion and the issued and paid-up capital Rs 2 billion.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> 60 per cent of the paid-up capital is held by the promoters and remaining 40 per cent by the general public.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> The shares of the bank are listed at Nepal Stock Exchange Limited (NEPSE) as â€˜Aâ€™ category shares.</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span><span>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The seven-member Board of Directors (BOD) has three Directors representing the promoters, two representing the general public and one representing the Professional Director.</span></div>
<div style="text-align: justify;">
	Â </div>
<div style="text-align: justify;">
	SWOT Analysis</div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<b><span style="">Strengths: </span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Young and career-oriented workforce</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Good relations between Promoters and Directors</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Quick implementation of ideas</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> A sound infrastructure</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Impressive range of products</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Promotersâ€™ trust in the institution</div>
<div style="text-align: justify;">
	<b><span style="">Weaknesses:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">* </span>Comparatively new entrant in the market</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Limited exposure in corporate banking</div>
<div style="text-align: justify;">
	<b><span style="">Opportunities:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Foray into corporate banking</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Further business expansion and development</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Build on existing infrastructure</div>
<div style="text-align: justify;">
	<b><span style="">Threats:</span></b></div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Mushrooming competitors</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span> Political instability</div>
<div style="text-align: justify;">
	<span style="font-size: 6.5pt; line-height: 115%; color: rgb(250, 165, 25); letter-spacing: 0.2pt;">*</span>Unhealthy competition</div>',
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			'description' => 'With a network of 51 branches and 73 ATM outlets, Kist Bank Limited is slowly but surely inching towards becoming a premier bank. With an existing customer base of 300,000, the bank is focusing on providing faster and friendlier services.',
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	(int) 13 => array(
		'Article' => array(
			'id' => '309',
			'article_category_id' => '31',
			'title' => '˜We Are Looking Into Nepal's Hydro And Highways"',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;"><img align="left" alt="" border="2" height="296" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img6.jpg" style="width: 203px; height: 296px;margin:10px;padding:10px;" vspace="1" width="203" />Atul Punj</span><span style="font-size: 12pt;">, the Chairman of Punj Llyod Ltd“ a diversified international conglomerate offering EPC services in Energy and Infrastructure “ was in Kathmandu recently on the invitation of Entrepreneurs Organisation. A US$ 2.4 billion turnover company, Punj Llyod Group has built projects across the world and continues to provide integrated design, engineering, procurement, construction (EPC) and project management services for the energy, infrastructure and petrochemical sectors. In an interview with New Business Age, Punj talked about his company's possibilities of working in Nepal. Excerpts:<br />
	<br />
	</span></div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>What's the purpose of your visit to Nepal this time?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	This is actually my first visit to Kathmandu. I was invited here by the Entrepreneurs™ Organisation to speak on entrepreneurship. It also gives me an opportunity to explore and get a feel of the city and the country and see what's happening.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong>Could you please elaborate on Punj Lloyd's business activities?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We cover everything from urban infrastructure to expressways. We operate through our twenty international offices and entities across the Middle East, the Caspian, Asia Pacific, Africa, South Asia, China and Europe. The ideology is that we move into a country and localise operations there as quickly as possible. We make sure that we are seen as a local company rather than a foreign entity that has come in only to explore business opportunities. So, we invest a lot of time and money in training people and imparting specialised skills.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	Our Group's three brands - Punj Lloyd and PL Engineering headquartered in India and Sembawang Engineers &amp; Constructors in Singapore, each with their own subsidiaries and joint ventures, converge to offer complementary services, rich experiences and the best practices from across the globe. We offer EPC solutions across a wide spectrum of businesses: pipelines, tanks, terminals, refineries, power plants, airports and rail transit systems among others.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>What are the key strengths of your group? What sets you apart from your competitors?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	The key strengths would be our varied experience and rich knowledge of local conditions. Ours is a 23,000 strong skilled multicultural workforce that has the experience of working in different geographies and diverse terrain. We set high standards of health, safety, quality and environment and have received accolades and recognitions from industry bodies and clients.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-indent: 0in; text-align: justify;">
	We have the ability to manage operations in diverse industries and economies, long-term relationships with world-class clients and mobilising financial resources. The huge fleet of equipment Punj Lloyd owns gives the company an edge over its competitors.</div>
<div style="text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>Punj Lloyd is said to be committed to the cause of community enrichment. How do you go about achieving that?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	In our pursuit of business, we endeavour to uplift the communities where we operate. Social and environmental concerns are closely interwoven in Punj Lloyd Group's core practices and decision making. From providing education to many underprivileged children through its own school to enriching the lives of thousands of workers at its sites, we are committed to the cause of community enhancement.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>A number of construction and infrastructure related projects in Nepal are being talked about of late. What has kept Punj Lloyd from getting involved so far?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	I think the major reason for this has been the political instability here. Nobody knows which direction the country is heading towards. Hopefully, things will settle down sooner or later. The opportunities are definitely very large particularly in the hydropower area. Highway is another huge opportunity. We will look into it and see how we can take advantage of these.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>How do you view the current business environment of Nepal? What areas of feasible business opportunities do you see for your company here?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	<span style="letter-spacing: 0.1pt;">I think the opportunities for businesses in this country will be largely based on political stability. Of course, there is a lot of investment and capital required to get the economy back to a position of strength. There is immense hydroelectricity potential in Nepal. The opportunity to produce and export power to India and other countries in the region is enormous. So, the relevance of hydropower is quite natural to us. </span></div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>It might interest you to know that most projects in Nepal face local opposition.&nbsp;How do you handle such situation in locations that you have been working?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Well, it's no different in India either. Any vibrant democracy which is developing has the same people power issue. Building roads, land acquisition etc are critical issues to deal with. It's important to talk to the local population and make them understand the benefits that the project will bring to them. For instance, you can build schools and primary healthcare centres for them and also offer employment.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	I think communities do understand that projects can make a contribution towards their development. We have learnt this over the years and therefore, we have an excellent track record for successful completion of projects within tight schedules. This lends credibility to the Group and encourages clients to trust it with repeat orders.</div>
<div style="text-indent: 0in; text-align: justify;">
	 </div>
<div style="text-align: justify;">
	<strong>Are you looking at possibilities of partnering the Chaudhary Group here? Is there a certain time period you are looking at to commence operations in Nepal?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Everything is open right now. We are looking at opportunities depending on how they unfurl. We hope to start sometime within this year depending on how soon we can formalise things.&nbsp; <span style="font-size: 6.5pt; color: rgb(237, 28, 36); letter-spacing: 0.15pt;"><br />
	</span></div>
<div style="text-align: justify;">
	 </div>',
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		'Article' => array(
			'id' => '308',
			'article_category_id' => '31',
			'title' => '“We Are Innovators, Not Followers”',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div style="text-indent: 0in; text-align: justify;">
	<span style="font-size: 12pt;"><img align="left" alt="" border="2" height="259" hspace="2" src="http://newbusinessage.com/ckfinder/userfiles/Images/img5.jpg" style="width: 259px; height: 259px;margin:10px;padding:10px;" vspace="1" width="259" />Bernard Lee Meng Sum</span><span style="font-size: 12pt;"> is the Deputy General Manager (International Marketing and Investment) of Demak Motors, a two wheeler manufacturer based in Malaysia. He was in Kathmandu recently to launch two motorcycles models of his company through its dealer Agni Incorporated Pvt Ltd. Demak Motors won the Golden Bull Award 2010 for being one of the 100 outstanding SMEs in Malaysia. The company plans to penetrate&nbsp;the East and South East Asian markets in the foreseeable future. In an interview with New Business Age, Meng Sum shared his ideas on Demak Motors market prospects in Nepal. Excerpts:</span></div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="text-align: justify;">
	<strong>Why is Demak Motors attracted to Nepal ?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We have been keeping track of the market potentials for bikes in Nepal. Quite naturally, we see a very good growth here. We would like to be the number one in the Nepali market as a Malaysian brand. This year, our corporate strategy is to expand in the East Asian market and Nepal. We have tied up with a very good company, Agni Incorporated, to penetrate the potential market here.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>You have launched two models of Demak bikes. Is there any particular reason for choosing these two models over others?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Our market study revealed that dirt bikes and cruisers have large potential in Nepal. As you can currently see, the Nepali market is monopolised by street bikes. We surely are going to introduce more models with time. These will include scooters, electric motorcycles and hybrid scooters which have not been seen in the Nepali market as yet.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Who do you see as major competitors for your bikes here?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We don't see anyone as a competitor right now. We are the innovators rather than the followers. We don't consider ourselves as competing against Indian brands. But we will position ourselves as the market leader in the dirt bikes and cruisers segment of the market.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>How is Demak doing in the Philippines where it entered recently?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We are doing quite well in Philippines right now. The Philippines market is completely different than Nepal in terms of economy and market environment. We are currently the number five brand in Philippines but we will rise to number four next year.<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>What sort of growth do you expect in Nepal business?&nbsp;</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	It looks a fantastic market to us. Nepal is located between China and India who have several automobile giants in their ranks. As a Malaysian brand, we are proud to have entered the Nepali market. It takes an extensive effort for us to be here. We hope it will be a success story in the coming days for the entire East Asian market.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Which segment of the market are you targeting to sell your bikes?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	Well, it is a huge market. We are offering products that are different, classic and nostalgic. We are targeting college boys and teenagers in the age range of 20 to 28 years.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>What is the sales target you have in mind for the first year in Nepal?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	For the first year, we are looking at selling 2,000 units. In the consequent years, we plan to grow at 10 percent on a yearly basis.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>Your company won the Golden Bull Award 2010 for being one of the 100 outstanding SMEs. What kind of strategies did the company adopt to find such success within seven years of operation?</strong></div>
<div style="text-indent: 0in; text-align: justify;">
	We believe in our marketing, our products and the wonderful teamwork that we have in our company. The Chinese philosophy which we practice in Malaysia is: there is no mountain that we cannot conquer as long as we put hard work and dedication to our assignments.</div>
<div style="text-indent: 0in; text-align: justify;">
	<br />
	 </div>
<div style="margin-top: 5.65pt; text-align: justify;">
	<strong>You are establishing a production plant in Sri Lanka. Can you tell us about it?</strong></div>
<p style="text-align: justify;">
	<span style="font-size: 12px;"><span style="line-height: 115%;">Sri Lanka will be the export hub for us to penetrate the East Asian and South Asian markets.&nbsp;We chose Sri Lanka because this is the shortest distance in terms of distribution of our products to Nepal, Bhutan and our next target market India. We see potential in India for our dirt bikes, specially our scooters and electrical bikes.</span><br />
	</span></p>',
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FOREX

Currency	Unit	Buy	Sell
U.S. Dollar	1	121.23	121.83
European Euro	1	131.65	132.31
UK Pound Sterling	1	142.47	143.18
Swiss Franc	1	124.29	124.90
Australian Dollar	1	71.69	72.05
Canadian Dollar	1	83.90	84.32
Japanese Yen	10	10.94	11.00
Chinese Yuan	1	17.17	17.26
Saudi Arabian Riyal	1	32.27	32.43
UAE Dirham	1	33.01	33.17
Malaysian Ringgit	1	27.36	27.50
South Korean Won	100	9.77	9.82

Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)

Bullion

Fine Gold	1 tola	77000.00
Tejabi Gold	1 tola	76700.00
Silver	1 tola	720.00

Update : 2020-03-25

Source: Federation of Nepal Gold and Silver Dealers' Association

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00