Sovereign wealth fund Samruk-Kazyna (Kazakhstan) announces meeting of own executives with Kazakhtelecom

11.09.13 19:06
/KASE, September 11, 13/ – Sovereign wealth fund Samruk-Kazyna (Astana), whose bonds are officially listed on Kazakhstan Stock Exchange (KASE), has provided KASE with a press-release of September 11, 2013: quote On September 11, 2013 Management Board of Samruk-Kazyna (hereinafter – the Fund) on its regular meeting headed by the Fund's CEO Omiruzak Shokeev in Astana listened to a report of representatives of the Fund in the Board of Directors of Kazakhtelecom on main operating results of the company for the 1st half-year of 2013. The meeting was also attended by independent directors of the Board of Directors of Kazakhtelecom chairing the Audit Committee and Committee on appointments and remunerations. During the meeting it was noted that for purposes of implementing the transit potential Kazakhtelecom has arranged direct junctions with leading operators of all neighboring countries. Only Turkmenistan used to be an exception, however works on construction and connection of Kazakhtelecom and Turkmentelecom have been just finished. Thus, Kazakhtelecom has positioned itself as the single Central-Asian telecommunication hub. Overall, 16 junctions with 13 operators from 5 countries are commercially operated today. The combined capacity of junctions is over 430 Gbit/second. In addition, issues were discussed regarding implementation of the development plan of Kazakhtelecom for 2011-2015 based on results of the 1st half-year of 2013 and objectives for the 2nd half-year of 2013. The results exceeded the plan on consolidated sales revenues by 3%, which made up KZT91.2 bn. At the same time the consolidated net income made up around KZT10.7 bn, which is 3.7 higher than the plan. Representatives of Kazakhtelecom announced that for the reporting period the amount of capital expenditures made up KZT11.6 bn. At the same time Kazakhtelecom in the course of implementing projects such as building FTTH (Fiber to the Home) networks spent KZT1.4 bn, introducing LTE/GSM/UMTS networks it spent KZT2.2 bn. Also the report on the status of fulfilling expectations of Samruk-Kazyna as a shareholder of Kazakhtelecom and the annual plan on implementing the strategy of Samruk-Kazyna for 2012-2022 was listened to. The most part of tasks and events set before the company for the 1st half-year of 2013 were fulfilled completely and on time. Based on results of the meeting the company was told to take necessary steps to retain its leading position on the market for information communications, as well as to step up its efforts on promoting services of fixed and mobile broadband access to the Internet and improvement of their quality. To do that the company management should ensure timely and appropriate implementation of major strategic projects on construction of fiber-optic networks FTTH and implementation of mobile LTE networks across the country. Public relations department Sovereign wealth fund Samruk-Kazyna: +7 (7172) 55-41-14; + 7 (777) 777 72 89 unquote [2013-09-11]