December 12: Shivam Cements has been adjudged as the best managed company of 2022.
The publicly listed cement manufacturing company was honored with the title of the “Best Managed Company 2022” on Monday amid a grand ceremony during the 7th Newbiz Business Conclave & Awards” organised by New Business Age Pvt Ltd.
The event, which features Asian Paints as the main sponsor, also felicitated seven companies as the best managed companies in their respective categories in addition to a lifetime achievement award to a business leader.
Standard Chartered Bank Nepal Ltd (SCBNL) received the award of the “Best Managed Commercial Bank 2022”. Standard Chartered Bank Nepal is the only international bank currently operating in Nepal.
Towards development bank category, it was Shine Resunga Development Bank to bag the “Best
Development Bank 2022” award.
ICFC Finance Ltd won the award of the “Best Managed Finance Company”.
Similarly, National Life Insurance Company Ltd received the honor of the “Best Managed Life Insurance Company” while Shikhar Insurance Company Ltd was named the “Best Managed Non-Life Insurance Company 2022”.
It was Chhimek Laghubitta Bittiya Sanstha Ltd which clinched the title of the “Best Managed Microfinance Company 2022”.
According to the organizer, the companies and individuals honored during the event were selected by a jury after going through detailed research on each of the short-listed organizations and business leaders.
Each category had an independent jury which short-listed possible companies and individuals, and discussed various aspects among themselves and with outside experts and regulators before making the final selection, said the organizer.
During the ceremony, New Business Age Ltd, the publisher of the monthly English magazine New Business Age and Aarthik Abhiyan National Daily, felicitated Himalaya Shumsher Rana with the “Lifetime Achievement in Business Award 2022”.
The jury said that he was honored with the award for his outstanding contribution to the field of business and entrepreneurship in Nepal through his pioneering, innovating and visional roles in various fields including central banking, private sector commercial banking, insurance and manufacturing.
New Business Age has been organizing Business Conclave & Awards annually since 2013 with an aim to hold discourse on crucial business and economic issues and honour business excellence by recognising quality works done by people and organizations.
“They are being honoured for being our role models. We don't call them winners. Because they may be many more who deserve to be honoured. But we could not reach out to all of them because of our limited resources,” said Madan Lamsal, Chairman and Editor-in-chief of New Business Age group. “We hope they will do more in the future. We look forward to their higher achievements and investments in social good and corporate social responsibility in the years to come.”
Prior to the award ceremony, a panel discussion on “Emerging Through the Crises” was organized where panelists comprising leaders from private sector, government and think tanks discussed resilience of Nepal’s business and economy to various crises including a decade long Maoists insurgency, earthquakes and trade blockades in 2015 and the recent Covid-19 pandemic.
SAWTEE’s Chair Dr Posh Raj Pandey, FNCCI Vice President Chandra Dhakal, Nepal Rastra Bank’s Deputy Governor Dr Neelam Dhungana Timsina and Industry, Commerce and Supplies Secretary Dr Toya Gyawali were the panelists in the discussion moderated by Dr Kalpana Khanal, Senior Research Fellow at Policy Research Institute.
LIST OF AWARD RECIPIENTS
Best Managed Company
Shivam Cement Ltd
Best Managed Commercial Bank
3rd: Rastriya Banijya Bank
2nd: Siddhartha bank Ltd
1st: Standard Charter Bank Nepal Ltd
Best Managed Development Bank
3rd: Lumbini Bikas Bank & Kamana Sewa Bikas Bank
2nd: Muktinath Bikas Bank
1st: Shine Resunga Development Bank
Best Managed Finance Company
3rd: Goodwill FinanceCompany
2nd: Guheswori Merchant Banking and Finance
1st: ICFC Finance Ltd
Best Managed Microfinance Company
3rd: Deprosc Laghubitta Bittiya Sanstha Ltd
2nd: Forward Community Laghubitta Bittiya Sanstha Ltd
1st: Chhimek Laghubitta Bittiya Sanstha Ltd
Best Managed Life Insurance Company
3rd: Life Insurance Corporation(Nepal) Ltd
2nd: Nepal Life Insurance Company
1st: National Life Insurance Company
Best Managed Non-Life Insurance Company
3rd: Neco Insurance Company
2nd: Sagarmatha Insurance Company
1st: Sikhar Insurance Company
