Kathmandu. Dinesh Lal Shrestha, Chief Executive Officer of Asian Life Insurance Company Limited, has claimed that the investment made in various companies for investment diversification is good.
Responding to queries from the shareholders participating in the company’s 17th Annual General Meeting held at Simara on July 27 about the company’s investment in risky areas, Chief Executive Shrestha said, “The current situation of the invested companies is good.
Shrestha claimed that the public issue of hotels, airlines and hydropower companies will be held in the coming days and after the issue, the company’s financial condition will be strengthened and economic activities will also increase in the future.
He informed the general assembly that the public issue process of one hydropower has already started and another hydropower will be issued soon.
How much investment is in ancillary and affiliated company:
The company’s fiscal year 2080. Asian Capital Limited, Mountain Glory Limited and Orchid Holdings Limited have invested Rs 76.5 million, Rs 538.825 million and Rs 703.24 million respectively.
It owns 39.09 per cent stake in Mountain Glory and 43.19 per cent in Orchid Holdings. According to the annual report, Out of the total loss of Rs 68.765 million of Mountain Glory, Rs 26.88 million and orchid Holdings’ total loss of Rs 136.6 million, Asian Life has to bear Rs 56.48 million.
Similarly, Yeti Airlines Limited has invested Rs 1.56 billion in the company, which has a share of Rs 77.93 million in the company’s profit.
