Kazakh Samruk-Kazyna announces financial results of subsidiaries
Azerbaijan, Baku, Oct. 30 / Trend E. Kosolapova/
Kazakh Sovereign Wealth Fund Samruk-Kazyna announced financial results of its subsidiaries in January-September 2013, the Fund reported.
"Consolidated net income of the Fund's major companies hit 517 billion tenge (154,37 tenge = $1) in the first nine months," Samruk-Kazyna's Managing Director Nurlan Rakhmetov said at a press briefing in Astana on Wednesday.
According to Rakhmetov, net income of the Fund's companies increased by 4 percent to 497 billion tenge in the reporting period excluding income from the sale of Kazakhtelecom's share in GSMKazakhstan.
Samruk-Kazyna owns, either in whole or in part, many important companies in the country, including the oil and gas company KazMunaiGas, national rail and postal service, atomic company Kazatomprom, carrier Air Astana and financial groups. The state is the sole shareholder of the fund.