Results of activity of PAPF Kazakhstan JSC (Kazakhstan) in 9 months of 2004

/IRBIS, Galina Tsalyuk, December 24, 04/ - PAPF Kazakhstan JSC (Almaty), whose shares are in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with financial statement for 9 months of 2004. Following indicators are result of the issuer's financial and economic activity in 9 months of 2004, based upon the issuer's data (th. KZT, unless other wise specified): ------------------------------------------------------------ As of As of Change, Indicator Jan 1, 04 Jul 1, 04 % ---------------------------- --------- ---------- ------- Authorized capital (paid) 250,000 500,000 +100.0 Shareholders' equity 255,994 514,637 +101.0 Total assets 259,862 521,037 +100.5 Investments into securities 0 195,913 - Accounts receivable 73,931 50,207 -32.1 Deposits in banks 144,000 115,236 -20.0 Total liabilities 3,868 6,400 +65.5 Accounts payable 3,868 6,400 +65.5 Total revenues 95,072 17,536 -81.6 Total expenses 108,081 10,213 -90.6 Net income (loss) (13,009) 7,323 +156.3 Book value of one share, KZT 1,023.98 1,029.27 +0.5 ---------------------------- --------- ---------- ------- Net pension assets 9,644,989 13,067,059 +35.5 ------------------------------------------------------------ Relative to 9 months of 2004 there is increase of: - shareholders' equity - by KZT258.6 m. as a result of increase of paid authorized capital by 250.0 m., reserve capital - by 1.4 m. and falling of uncovered loss by 7.2 m.; - assets - by KZT261.2 m. because of securities portfolio formation for 195.9 m., growth of residual value of fixed assets by 48.0 m., funds - by 67.6 m. and other assets - by 2.1 m., while amount of deposits placed in banks fell by 28.8 m. and accounts receivable - by 23.7 m.; - liabilities - by KZT2.5 m. because of growth of accounts payable by the same amount; - net pension assets - by KZT3.4 bn. Company's total revenues decreased in comparison with similar period of 2003 by KZT77.5 m., expenses - by KZT97.9 m. In 9 months of 2004 PAPF Kazakhstan JSC received net income equaling to KZT7.3 m. against KZT13.0 m. of losses in similar period of 2003. Primary activities of PAPF Kazakhstan JSC - collection of compulsory, volunteer and professional volunteer pension fees, other funds coming in compliance with pension legislation of Kazakhstan, making of pension payments to their recipients, and conducting of activity for formation of pension assets and their investing in the order set by Kazakhstan legislation. [2004-12-24]