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Corporate Houses To Set Up Exclusive Outlets (september 2011)

  2 min 43 sec to read

Big corporate houses of Nepal are planning to set up exclusive showrooms. Corporates that focus on local market will soon establish outlets all over the country. Big business houses like Jagadamba, KL Dugar and CG Electronics are planning to adopt this new marketing strategy.
 
Until now, Nepali companies have been selling their products through ‘dealer model’. Foreign companies sell their products through their own special showrooms. In Nepal, currently only foreign fashion brands like Adidas, Reebok and some apparel and car brands have their exclusive showrooms.
 
Kumud Dugar, Managing Director of KL Dugar Group, said his group is setting up exclusive showrooms to establish relationship with clients. Similarly, Chaudhary Group is planning to establish an outlet in Kathmandu before Dashain that will exclusively sell CG products. The company is also planning to open stores in all major cities.
 

Best Financial Accounts Awarded

The Institute of Chartered Accountants of Nepal has distributed Best Presented Account Awards - 2010 on July 22. Nabil Bank bagged the first title in the commercial bank segment while Standard Chartered Bank and Nepal Industrial and Commercial Bank won the second and third award respectively.
 
Similarly, the first position of the central bank monitored financial institution category was secured by Ace Development Bank. Sanima Development Bank and Siddhartha Development Bank received second and third position awards.
 
Likewise, in the category of financial institutions outside central bank monitoring, Prime Life Insurance Company won the first place. In the same category, Prudential Insurance Company and Life Insurance Corporation bagged second and third position respectively.
 
Under the manufacturing sector category, Butwal Power Company and Unilever Nepal received awards for first and second position.
 
In the information technology category, Nepal Telecom was awarded. Similarly in the hospitality sector, Oriental Hotels Limited was conferred with the award. Credit Service Centre was presented the award for the government sector.
 
The awards were given to those companies that proved to be the best in financial reporting techniques. The award is in line with the criteria prescribed by the South Asian Federation of Accountants (SAFA), an alliance of the Accounting Institute of Bangladesh, India, Pakistan, Nepal and Sri Lanka.
 

COMEN Revamps its Logo, Technology

Commodities and Metal Exchange Nepal Limited (COMEN) has revamped its logo. Manoranjan Sharma, Chairman of the company, claimed that the new logo resembles the Nepali commodities market’s possibility to reach the international standards.
 
Ananda Kumar Benani, CEO of the company said that the new technology installed at the exchange will offer ease to speculators as well as jobbing and arbitrage. The company is also soon launching awareness programme on commodities market.

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