Activity issues of Fund of stable development Kazyna JSC have been discussed - press release

/IRBIS, January 17, 07/ - Fund of stable development Kazyna JSC today spread a press release, which says: Quotation start On January 17 in Astana a business- conference was held, in the course of which key activity issues of Fund of stable development Kazyna JSC were discussed. Members of the Board of directors and members of the Board of the Fund of stable development Kazyna JSC, heads of development institutions, as well as Mark Holtsman, a non-executive deputy chairman of the bank ABN Amro Corporate Finance, have attended the business-conference. In the course of conducting the business- conference report information for 2006 about the activity of the Fund Kazyna itself and a group of companies, which is a part of the structure of the Fund Kazyna, was examined. By results of 11 months of 2006 assets of the group of the Fund Kazyna totaled KZT297.31 bn., volume of equity capital - KZT188.57 bn. As of January 1, 2007, the loan portfolio of the Development Bank of Kazakhstan JSC is $407.3 m. In all since the beginning of activity the Development Bank of Kazakhstan has approved 100 investment projects and export transactions for a total of KZT2647.8 m. with Bank's participation of $1250.8 m. The number of investment projects approved to financing was 49 for a total of $2106.1 m., including for the second half-year of 2006 - 9 projects for a total of $880.6 m. with Bank's participation - $419.2 m. The number of export operations totaled 51 project for a total of $541.7 m., with Development Bank's participation in the amount of $253.1 m., including in 2006 - 13 transactions for a total of $176.9 m. with Development Bank's participation of $53.7 m. Investment fund of Kazakhstan JSC since the beginning of activity has financed 31 project with total cost of KZT113.8 bn. with the participation of the Investment fund of KZT27.4 bn. In 2006 the Investment fund financed 7 projects for a total of KZT5.2 bn. National innovation Fund JSC for 2004 - 2006 have undertook obligations to finance 56 projects with the total cost of KZT99.5 bn. with participation share of the Innovation fund - KZT23.2 bn.: 11 innovation projects, 32 research and development projects, 10 venture funds and 3 infrastructure elements. In 2006 the Innovation Fund assumed obligations for 11 projects with the total cost of KZT28.8 bn. with Fund's participation of KZT3.3 bn. Volume of undertaken obligations of the State insurance corporation for insurance of export credits and investments JSC for insurance of non- primary export for the entire period since beginning of activity totaled KZT5.7 bn., including export projects - KZT2.6 bn. and investment projects - KZT3.1 bn. In 2006 volume of assumed obligations by the State insurance corporation totaled KZT2.47 bn., where KZT1.32 bn. comes to export insurance and KZT1.32 bn. to insurance of investments. According to the program of microcrediting development as of January 1, 2007 with the participation of the Fund of small entrepreneurship development JSC 30 microcredit organizations were established, aggregate amount of FSED's investments into the authorized capital of which totaled KZT98.9 m. By crediting microcredit organizations the Fund has financed 99 projects for a total of KZT4.1 bn., including for the 2 half-year of 2006 42 projects for a total of KZT1.6 bn. According to the program of guaranteeing credits of small entrepreneurship subjects, given by second tier banks, the Fund has issued guarantees for 22 projects ofr a total of KZT561.9 m., including for the 2 half-year of 2006 for 15 projects for a total of KZT384.4 m. By the program of project financing and leasing the Fund has financed 1409 projects for a total of KZT16.8 bn., including for financial leasing 43 projects for a total of KZT681.6 m., for the 2 half-year of 2006 the Fund according to project financing and leasing has financed 84 projects for a total of KZT1176.9 m. Center of marketing and analytic research JSC in 2006 took part in the work on such projects as establishment of social and entrepreneur corporations, establishment of the regional financial center of Almaty, design of the territorial development strategy, projects "Strategy of territorial development of the Pavlodar oblast", "Determination of perspective clusters in Astana city" and "Perspectives of development of transport and logistic services in Aktyubinsk oblast", and other projects. Kazakhstan center of investment assistance LLP in 2006 conducted 27 measures on economic and investment subject and 15 measures within visits of the President of RK abroad and government delegations in RK. Also Kazinvest LLP carried out an information and consulting work with international and foreign organizations, financial institutions, foreign agencies for investment assistance. Fund Kazyna in 2006 conducted activity diagnostics of national institutions of development. Taking into account results of diagnostics, correction of corporate procedures of development institutions was made. Also the Fund Kazyna brought about the arrangement system of fundamental goals and objectives for development institutions, within which for each development institution Strategic development directions were confirmed for 2007-2011, Development plans were approved for 2007-2009 and Business-plans (budgets) for 2007. In the area of corporate finances, the Fund Kazyna worked out and confirmed the system of budgeting and financial statements, which provides monthly reports of development institutions and an opportunity of quick closing of consolidated financial statements. Objectives of the Fund Kazyna for 2007 have been considered at the business-conference, among which there are attracting of transnational corporations of non-primary direction in Kazakhstan, purchase of high- technology companies abroad, commercialization of perspective inventions, work activation of venture funds in Kazakhstan, establishment of representative offices of the Fund Kazyna abroad, improvement of corporate procedures, introduction of principles of corporate social responsibility and other. At the business-conference priority investment directions of development institutions have been highlighted, among which there are petrochemical industry and chemical industry, metallurgy and metal-working, food industry and processing of agricultural production, transport and logistics, manufacturing of metallic constructions, production of electric energy and other. Information about the course of establishing the Corporation for investment and export assistance on the basis of the Center of marketing and analytic research JSC, which was called upon to develop the promotion of Kazakhstani export to international markets, render assistance to Kazakhstani investments abroad, as well as attract and create conditions for attracting foreign investments in Kazakhstan, was considered at the conference as well. The decision about establishment of the Corporation has been earlier approved at the meeting of the Specialized council for issues of public administration in the sphere of industrial and innovation development attached to the Government of the Republic of Kazakhstan dated November 27, 2006. Quotation end [2007-01-17]