Join Stock Company “Central-Asian Power Energy Company” regarding the enforcement measures applied by Kazakhstan Agency on Regulation and Supervision of Financial Market and Financial Organizations against CAPEC, JSC informs the following:
In accordance with the
CAPEC, JSC is a highly capitalized holding company. Considerable part of its assets was invested into the authorized capitals of large industrial companies of electric power industry of the country. In its daily operation the Company has been strengthening and widening its positions at the power market. Aimed and enthusiastic functioning of the Company, transparency and clearness of the activity has significantly widened the borders of cooperation as well as with international financial institutes of development, such as European Bank for Reconstruction and Development which in 2009 made investments into the capital of private power company in
The authorized body determined the unstable financial state of the mother company of the bank conglomerate - CAPEC, JSC only by token approach due to that the assets of company include the shares and participation shares in charter capitals of other legal entities which under the current structure of the joint-stock company is reasonable for holding companies.
Enforcement measures taken by the authorized body are connected with the limitation of operations between CAPEC, JSC and its subsidiaries and bear risk for financial subsidiaries. However the interests of CAPEC, JSC as a principal shareholder of these companies are directed for increase of their financial stability, capitalization and are not reconcilable with risks creation. Current financial and economic indicators of CAPEC, JSC give evidence that it can really ensure the constant and operational providing of adequacy of owners’ capital of the bank conglomerate and don’t cause any internal or external risks.
Reference:
Join-Stock Company “Central-Asian Power Energy Company” is a large-scale holding set up over 10 years ago and joining different branches of economy, including electric power, financial, chemical sectors, and projects of other branches with assets aggregate of over 150 billion tenge for today.
The Company partners – European Bank for Reconstruction and Development, JSC “National Welfare Fund “Samruk-Kazyna”.
For additional information, please call to Vakirova Yelena
Mobile: +77012081714, (727)3334269,
e-mail: Y.Vakirova@eximbank.kz