Audited financial statements of KazTransOil CJSC (Kazakhstan) for 2001

/KASE, July 29, 02/ - KazTransOil CJSC (Astana) presented KASE the audit report on financial statements of the company for 2001, made by Arthur Andersen (Almaty). According to audited financial statements the results of the bank's economic activity by December 31, 2000 and 2001 are as follows (in th. KZT, unless otherwise indicated): ----------------------------------------------------- Indicator 2000* 2001 -------------------------- ------------ ----------- Authorized capital (paid) 32,903,713 32,884,575 Shareholders' equity 120,546,565 124,994,036 Total assets 133,822,887 169,083,403 Net working capital 12,978,551 39,561,779 Accounts receivable, net 6,932,064 21,596,374 Total liabilities 13,276,322 44,089,367 Accounts payable 9,101,018 15,255,590 Bonds issued 3,628,829 27,036,000 Sales revenues 35,148,218 44,547,196 Cost of goods sold 23,668,161 28,469,411 Net income 5,742,508 4,467,714 ----------------------------------------------------- According to the auditor's data it's been calculated: According to the auditor's data it's been calculated: ----------------------------------------------------- Return on sales (ROS), % 32.66 32.66 Return on equity (ROE), % 4.76 3.57 Return on assets (ROA), % 4.29 2.64 ----------------------------------------------------- * - re-calculated due to the fact that after financial statements reporting as of December 31, 2000 a significant mistake regarding payment of income taxes, which was later corrected, was found and corresponding articles in financial statements were recalculated. Correction of a mistake caused a decrease of net income for 2000 reported earlier by KZT1,689m, increase of additionally not paid capital by KZT 782m, and as a result, decrease of stockholders' equity of the company KZT907m. Arthur Andersen Company in accordance with Kazakhstan and international auditing standards carried out audit of financial statements of the company, In the auditor's opinion financial statements present impartial picture of financial situation of the company by December 31, 2001 and the results of its activity and cash flow within the year which ended by the date mentioned above in compliance with Kazakhstan accounting standards. Principal activity of the company - rendering service of oil transportation, including oil transportation with pipeline, sea and railway transport, and service on transportation of products of processing of oil and water by the system of own pipelines, services of loading and unloading of mineral oil. [2002-07-29]