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Problematic issuers owe the UAPF more than 80.7 billion tenge

In response to the official inquiry by LS, the pension fund representatives report that as of October 20, 2020 the work on debt repayment towards 19 defaulted issuers, whose financial instruments have been part of pension assets, is underway.
Problematic issuers owe the UAPF more than 80.7 billion tenge

“The amount of their liabilities at the par value of securities is 77.3 billion tenge, and on deposits in banks on the principal debt - 3.3 billion tenge. The total debt exceeds 80.7 billion tenge,” according to the UAPF representatives.

The fund divided debtors into three groups:

1. Issuers in respect of which the rehabilitation procedure was applied: (Rosa - 250 million tenge, Kazakhstan Kagazy - 12.1 billion tenge and Imstalcon - 3.3 billion tenge). The debt is 15.7 billion tenge.

2. Issuers in respect of which the claims work is carried out: Alternative Finance - 130 million tenge, REMIX-R - 103.15 million tenge, Kazneftekhim - 2.4 billion tenge, Astana Real estate - 970.8 million tenge, Construction materials and structures Plant-2 - 46.11 million tenge, Ornek XXI - 45.9 million tenge, Mineral Resources of Central Asia - 1.2 billion tenge, TEMA Ko - 211.05 million tenge, HOMEBROKER - 2.4 billion tenge, Turt-Adyk MPP - 489 million tenge, APK-Invest Corporation - almost 5 billion tenge, KAZEXPORTASTYK holding - 31.1 billion tenge. The liability amount is 44.1 billion tenge.

3. Issuers in respect of which the bankruptcy/enforced liquidation procedure is being carried out, including:

- the liability amount at nominal value is 17.5 billion tenge, of which Valut-Transit-Bank - 2.8 billion tenge, GLOTUR - 1.7 billion tenge, Eximbank Kazakhstan - almost 13 billion tenge;

- the liability amount on bank deposits exceeds 3.3 billion tenge, of which: Valut-Transit-Bank - 2.3 billion tenge and Qazaq Banki - 1.05 billion tenge, 20.8 billion tenge in total.

The liabilities of most problematic issuers have been forming from 2006 to 2013, and acquired assets by private pension funds - from 2005 to 2010.

The total amount of debt repaid to the UAPF was 23.9 billion tenge, including 1.4 billion tenge in 2014-2016, 1.2 billion tenge in 2017, 14.8 billion tenge in 2018, 4.5 billion tenge in 2019, and 1.8 billion tenge - for 10 months of 2020 year.

The fund also commented on the issue of 5 billion tenge return in the UAPF ex-chairman Ruslan Yerdenayev and Buzgul Aurum case. According to the information, more than 889.3 million tenge were transferred to the UAPF as of October 20.

“The outstanding balance is 4.1 billion tenge. On July 30, 2020, the Medeu District Court also established to jointly and severally collect the amount of damage caused of 1.7 billion tenge from the convicted persons and Buzgul Aurum. To this date, the court decision has not come into legal force due to the availability of time limits for its appeal,” the UAPF officials said.

Source: https://lsm.kz/problemnye-enpf
Photos are from open sources.

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