“Our work culture has led us to win this award”
It is indeed a great moment for us to be named as the Best Managed Company. We deserve this award and it has motivated us to perform better in the future. Many factors have contributed to this win. Particularly, it is the work culture in our organisation. All employees of Sipradi Trading have been working excellently in terms of their assigned roles and responsibilities. Our staff have high levels of competency to work efficiently. All these have resulted in a different type of culture to take ownership of the works and to perform better.
We always believe in the people who work for us. We have a lot of competency and skills matrices to identify and fulfill the gaps in terms of their development. We will keep investing in their capacity enhancement so that they are not only able to perform better in the assigned roles and responsibilities, but also to take up the challenges that are coming into the market with the changing business environment.
“Motivation for us”
We are really glad to be a part of this event. This initiative of New Business Age is an encouragement for us. We have been operating here with our purpose of “Swastha Nepal, Saxcham Nepal, Hamro Nepal”. The award for being the Best Joint Venture Company is an encouragement for us to drive the purpose further. Despite being a joint venture business entity, we see ourselves as a truly Nepali company that has been working for Nepalis. This has been the main inspiring factor for Unilever Nepal Limited and this is why we are loved by consumers in Nepal.
The overall programme was quite motivating. I especially liked the panel discussion part. From the economic perspective, it will help us to develop entrepreneurship in the country. Similarly, the awards part is also motivating for the companies to work better in the coming days.
“Award a result of our high-end performance, organisational discipline and social contributions”
It is a proud moment for us. The award for being the ‘Best Managed Commercial Bank’ is a result of our high-end performance and organisational discipline. I think banks need to operate in a fully disciplined manner as the banking sector has become very challenging these days. Banks should also focus on long-term goals rather than eyeing short-term profits and work to safeguard depositors’ money. Alongside the business, bankers should think about how they can contribute to the development of the nation. Events like this motivate companies to sustain their business. There are many challenges in the country’s banking sector. The main hurdle now is digitalisation. Expanding the network of banks is not possible by only opening new branches. We are planning to reach every nook and corner of the country by using advanced technology. Nabil Bank is probably at the top when it comes to the use of technology. We have already launched the electronic payment gateway which facilitates exporters and foreign tourists to make direct payments from outside of the country.
“Motivation for us to work better”
The NewBiz Conclave and Awards organised by New Business Age is distinctive. It is a moment of pride for our bank to receive this prestigious award. It has motivated us to work better in the future. Initiatives like this help BFIs to grow further. It would have been better had the organisers informed us about the selection process earlier. We would have started discussions on changing the ways we work on the basis of the selection criteria.
“We aim to become Best Managed Commercial Bank”
We have spanned a period of 25 years in the Nepali banking sector and still have a long way to go. The award is definitely motivating for us. We aim to become the ‘Best Managed Commercial Bank’ in next year’s NewBiz Conclave and Awards. Started with corporate banking, our parent company State Bank of India (SBI) is now a multinational Indian bank that operates worldwide. We are also expanding our branches all over Nepal. We are working towards making the banking services accessible for all Nepali citizens. Our aim now is to expand branches, focus on digital banking and introduce new technologies.
“NewBiz awards convey positive message for business excellence”
We have already bagged several national and international awards over the years. The NewBiz awards convey a positive message and motivate companies to achieve business excellence. The situation is gradually becoming easier for people to receive banking services. New projects should be started to help the banks that are in the right path. We are introducing a new product in retail banking and a derivative product in corporate banking. Many companies are using digital technologies, so we have also planned to develop our technology accordingly. Currently, we have been providing account statements and normal transactions digitally through the online medium.
“Encouragement to perform better”
I would like to extend my sincere thanks to New Business Age for the award and to the jury panel for recognising our work. It has indeed encouraged us to perform better in the upcoming days. The panel discussion on the startup ecosystem was quite relevant. Financing the startup ventures is quite a challenge for BFIs as we are required to operate as per the guidelines issued by the regulatory body. However, we look forward to supporting the budding entrepreneurs. Our focus up until now has been on retail loans and internet banking. We have lots of plans to expand our business in the future. We are planning to expand branchless banking, introduce modern technologies, starting cooperative internet banking and other services.
“Award has added a challenge to maintain the position”
We are really feeling very proud of this achievement. We received the Best Managed Finance Company award as the Fewa Finance Company in the first edition NewBiz Conclave and Awards in 2013. We have hoped for this award as all our performance indicators were excellent. I want to dedicate the award to the entire team of the bank. This has motivated us to work better in the future and challenged us to maintain the position at the same time.
The theme of the panel discussion was quite relevant. Overall, the programme was splendid. But I would like to suggest the organisers to keep the length of the event within the time frame in the upcoming editions. Currently, we are expanding our network all across Nepal. We have 55 branches and four more will be added in the near future. We are moving ahead by introducing modern banking facilities and also conducting programmes in financial literacy. We are also fulfilling our CSR obligations.
“Some parameters lacking”
Our contributions towards the country’s economic sector have been appreciated through this award. Kailash Bikash Bank has been receiving such appreciations since its establishment when it was Annapurna Finance Company. We have received a number of awards and recognition in the past like Best Finance Company in corporate governance by the Nepal Rastra Bank and Best Financial Institution of Gandaki region by the Pokhara Chamber of Commerce and Industry. We have also won the Best Presented Accounts award from the Institute of Chartered Accountants of Nepal (ICAN) four times.
We respect the decision taken by the jury panel. However, I feel there are some parameters lacking in the Best Managed Development Bank category. Parameters in corporate governance and customer satisfaction should also be considered. Development Banks are compelled to compete with ‘A’ class financial institutions and we face a challenge to grow the business like the commercial banks.
“Awards like this increase social responsibility”
We are very glad to receive the award. An award like this increases the level of responsibility of recipient companies towards the society. However, the organisers should have included officials of the government authorities in the jury panel to make the award process more effective. The organisers should also monitor the merged banks in an appropriate way. All financial indicators of Muktinath Development Bank are good and we were able to increase transactions by 55 percent in the last fiscal year. Likewise, we have also been working to increase the number of customers. The bank has been organising several financial literacy programmes at different parts of the country. Apart from the strong financial performance, our initiatives in providing loans to the deprived groups have also helped us bag this award.
“Award for our excellent customer service”
The award for being Best Managed Finance Company is the result of our dedication towards our work and the way we provide services to our customers. This has motivated us to work harder in the coming days. We feel the jury panel has analysed all nominees properly before deciding to award our company. This endeavour of New Business Age to encourage the country’s private sector is praiseworthy.
“Awards can’t be bought”
We have won this award due to the satisfaction of our customers. We have always tried our best to provide best services to our customers. Awards can’t be bought. We take this as a big achievement on our part. After receiving this honour, a challenge has been added for us to operate in more responsible and effective ways.
“We will be more responsible”
We have always strived for high level customer satisfaction. This award is a testimony to the fact that we have managed customer service effectively. I believe the jury panel has analysed all components properly. We are excited and our responsibility towards society has also increased. In the days to come, we will expand our services further and introduce new customer-oriented products.
“Evaluation of our hard work”
It has been more than 25 years since we started the company. This award has made us feel that our hard work since the company’s inception has been recognised and evaluated. We have always remained true to our commitments in terms of completing and handing over the houses to our customers. We are engaged in the construction business keeping in mind that residential housing needs to be affordable for every citizen of the country. We also provide different services even after the customers buy the units. Our company has been rapidly constructing housing units as per the criteria set by the government. We have always tried to offer the best quality to our customers. This is the first time I have participated in NewBiz Conclave and Awards. The award has made us remember the days when we started the company. The awards have proved that every industrialist or entrepreneur will reach the next level if they work with determination.
“Award helps in efficient branding of products”
We have been working in the real estate sector for a long time. After receiving the award, we feel our hard work has been rightly evaluated. Awards like these help companies to brand their products more efficiently. It also increases trust among consumers in this age of high market competition. The team of highly qualified experts has selected us on the basis of our work, quality, transparency, investment and satisfaction of our customers.
There is not much competition in the real estate market at present. The government is preparing the legal framework to allow foreigners to buy apartments in Nepal. With the introduction of the new provision, foreigners will be able to buy apartments in Nepal only after analysing the status of the developers. It will also make companies work seriously to grab the attention of prospective foreign buyers. The demand for residential homes has increased dramatically in Nepal in recent years. Such demand is much higher compared to the number of available apartments. Apartment sales which sharply decreased after the unfortunate events in 2015 haves started to grow again slowly over the last few months.
“Proper categorisation of land necessary”
Our responsibility has increased after receiving the award. We now have to focus more on providing quality housing to the customers at affordable prices. As people have become busier in their lives, the trend of buying houses has increased in the recent years. We are constructing residential housing units in Imadol, Dhumbarahi and Mulpani, among other places. Our project in Imadol is the biggest housing project in the country with 800 units altogether. Likewise, we have also started the Green Forest construction project in Jhapa. There we will plant saplings in 100 bigahs of land with the aim of helping to address the problems in the availability of timber wood in the country. There are issues in the utilisation of land in Nepal. The categorisation should be done accordingly on the basis of residence, commercial housing development, agriculture, and purpose. If the land is properly categorised, then only can the implementation of the land related rules and regulations be effective.
“We represent the Nepali life insurance sector”
It is for the fourth time in a row we have been named the ‘Best Managed Life Insurance Company’. This shows our relentless efforts in providing best life insurance services in the country. NLIC has established itself as the representative institution of the Nepali life insurance sector. Award programme like this fill new energy in the business community and give a sense of positive change. The fourth edition of NewBiz Conclave and Awards Age is very much successful in achieving its goal. I have seen the level of this event going up every year. It is important to integrate other areas of business in the upcoming editions to make the programme more diverse. Less than 10 percent of the population has insurance coverage in Nepal. Entry of new life insurance companies is positive in terms of market competition and penetration of insurance.
“International level event”
We have completed 16 years of journey as a life insurance company. Compared to other companies, we pay more taxes and are ahead in this business. LICN is the only ISO-certified life insurance company in Nepal. This has also contributed to the nomination of our company for the award.
Nepali life insurance sector is going through a very interesting phase as 10 new companies are set to enter the market. At present, a very few life insurance companies operate in Nepal. Only 7 percent of the population is clients to the insurance companies. A huge portion of population is yet to become part of insurance policies. I feel the program is very effective. I didn’t notice many drawbacks. The overall event is of international level. But it can be better with the addition of cultural programme.
“We will launch new product soon”
It is a big moment for Shikhar Insurance to be named as this year’s ‘Best Managed Non-life Insurance Company’. We are in a very strong financial position compared to other non-life insurers. I think this as the major factor for winning the award. The other reasons for this can be expansion of services in the remote areas, introduction of new products and increase in the human resource capacity. The NewBiz Conclave and Awards has been delivering positive messages among the business community over the last few years. Companies move forward with new and positive energy after being awarded. Moreover, it leaves a major impact on new entrepreneurs.
Last year, insurance premium went up compared to previous year. There has been some improvement now. The expansion of branches of insurance companies shows the possibility of more improvements in the future. Our company is set to launch a new product soon. We will also reach out to villages to increase the number of insured.
Preparing to open seven to eight branches this year
I would like to thank the jury panel for deciding to award us after the appropriate analysis. We feel honoured to receive the award. We are working very hard to make Neco Insurance the best non-life insurer. The awards programme is excellent and has encouraged us. Being awarded is an important aspect for us as it will enhance the trust of our customers.
The market of non-life insurance has become very competitive at the moment. The business is also growing rapidly. The race for the market is sure to increase with the entry of new players. We will expand our presence in the country. We are preparing to open 7-8 branches this year, particularly in the rural areas. We are also planning to work in the area of agriculture and livestock insurance.
“We will launch products in health, crop and micro-insurance”
We are very happy to receive the award. This programme has indeed energized the businesses. Our financial statement is good and our annual general meeting is being held on time. We have been prioritizing payment of insurance claims than collecting insurance premium. Similarly, we have been organising the annual general meetings in a timely manner. These reasons might be the factors for our selection by the jury panel.
Non-life insurers are performing well at present. New companies are entering the market and existing companies are operating satisfactorily. Last year saw an increase in the collection of insurance premium of all insurers compared to previous few years. It is due to the fact that people have realised the importance of non- life insurance. We have plans to launch products in health, crop and micro-insurance.
“Recognition of our continuous effort to illuminate Nepal”
I would like to extend my sincere thanks to New Business Age for the award. Our continuous effort to illuminate Nepal over the years is the main reason for us to receive this honour. We are filled with new energy to do excellent job in the future. This is a very inspirational programme which encourages entrepreneurs from different fields to do better.
Nepal needs to produce sufficient amount of electricity to become self-reliant in energy. It is necessary for us to increase production of electricity and replace the import of energy. In the meantime, we should also be prepared to export the power. However, there are many obstacles such as lack of progress in construction of transmission lines and hydropower projects.
Sanima Mai Hydropower is in the sector since 1999. We have constructed three hydropower projects till date and there are plans to developed Lower Likhu, Upper Tamor and Middle Tamor projects.
“Motivation to entrepreneurs from outside capital”
We are very grateful to New Business Age for this recognition. This has been a very exciting and encouraging experience for us. We feel more responsible. The views of the guest speakers and panelists are really inspiring for the young entrepreneurs. Bringing top state officials, startup mentors, professionals and young entrepreneurs in the same platform can help identify the issues, find the ways to address them and inspire the youths to move ahead in business. New Business Age has shown the awards are not just Kathmandu-centric, and hard work of entrepreneurs from across the country will be appreciated.
“Startups getting attention”
We feel great to receive the award. It is very motivating for us. A top business news media of the country organising such an important event itself shows that startups are getting attention lately. The panel discussion has highlighted some important points to consider in terms of developing the startup ecosystem in Nepal. All speakers at the programme have shared their invaluable thoughts.
“Government seems eager to help in ecosystem development”
This is probably for the first time startups are honoured in a major event in Nepal. This not only benefits us but also motivates other aspiring youths to get into entrepreneurship.
The views of the State Minister for Finance on entrepreneurship in the event show the government’s eagerness to help develop the startup ecosystem. I think, the top state officials who have attended the programme have learned about the challenges startups are facing.