Balance sheet of Zaman CJSC as of 01.04.2025 (thousands som)
| ASSETS | Thousands som, as of 01.04.25 |
| 1. Current assets | 2’101,9 |
| Cash | 1’470,8 |
| Debtors | 60,5 |
| Accounts receivable | 194,0 |
| Stocks of auxiliary materials | 376.5 |
| 2. Non-current assets | 67’528,7 |
| Fixed assets | 9’657,6 |
| Long-term investments | 57’871,1 |
| TOTAL ASSETS | 69’630,6 |
| LIABILITIES | |
| 3. Short-term liabilities | 164,4 |
| Accounts payable | 38,2 |
| Taxes payable | 42,7 |
| Short-term accrued liability | 83,4 |
| 4. Long-term liabilities | ——– |
| TOTAL LIABILITIES | 164,4 |
| 5. Ownership equity | |
| Authorized capital | 8’491,0 |
| Other capital | 58’293,5 |
| Retained earnings | 1’960,7 |
| Reserves | 720,9 |
| TOTAL EQUITY | 69’466,2 |
| TOTAL LIABILITIES AND EQUITY | 69’630,6 |
Owner’s Equity Calculation
Calculation of normative indicators of the adequacy of Zaman’s equity capital as of 01.04.2025
№ | Name of indicator | Standard | Actual as of 01.04.2025 |
1 | Equity (К1) | К1>1 million som | К1=22617 thousand som |
2 | Current ratio (К2) | К2>0,5 | К2=19,97 |
3 | Total liabilities (К3) | К3<5хК1 | К3=60,8 thousand som |
4 | Reserve fund (К4) | К4>5%К3 | К4=720 thousand som |
Approved by the Government of the Kyrgyz Republic, according to Regulation N°467 on 15 August 2011,
on normative indicators of equity capital adequacy, established for professional participants of the securities market.
General Provisions
Regulation N°467 was developed in accordance with the Law of the Kyrgyz Republic On the Securities Market and establishes mandatory requirements of equity capital adequacy to be maintained by the professional securities market participants.
Compliance with equity capital adequacy ratios is necessary in order for:
– providing the basis for profitable and sustainable growth;
– limiting risks related to operations with securities ;
– timely coverage of losses and potential losses associated with activities of professional market participants:
– Increasing investor trust in professional securities market participants.
When assessing the effective adequacy of equity capital, in addition to the normative indicators established by this Regulation, the authorised body for regulation of the securities market will also take into account other indicators, which include:
– Quality of management
– Keeping up with securities market legislation
– Liquidity
– General economic viability
Calculation of equity capital adequacy norms is performed by the participants, in accordance with international accounting standards and presented on a quarterly basis to the relevant government agency overseeing the securities market.
Equity capital adequacy indicators.
Equity capital – is a net asset value of the company, defined as a difference between the value of its assets and its liabilities.
Equity capital is comprised of:
– Fully paid-in registered capital;
– Additional paid-in capital;
– Retained earnings;
– Reserve capital;
– Shareholders’ surplus
At the time of application for a license to conduct professional activities with securities and for the duration of the license, the equity capital of the professional securities market participant, determined in accordance with the requirements of section 7 of this Regulation, must not be less than the amount established in accordance with the requirements of section 9 of this Regulation.
The equity capital of a professional securities market participant shall not be less than the minimum amount of the charter capital stipulated by section 8 of this Regulation, for the relevant type of professional activity on the securities market.
The minimum charter capital of a professional participant shall not be less than the following values:
– Depository activity – 15,000 estimated index (e.i.)
– Clearing activity – 15,000 e.i.
– Organising securities market trades (stock exchange) – 170,000 e.i.
– Asset management activity – 10,000 e.i.
– Dealership activity – 7,500 e.i.
– Brokerage activity – 5,000 e.i.
– Registrar of securities owners – 3,000 e.i.
– Investment fund activity – 15,000 e.i.
In cases where more than one type of securities market activities are being conducted on a combined basis, the minimal size of the charter capital is defined in accordance with the requirements applicable to the type of activity in respect of which the largest minimum amount of the charter capital is set.
The current liquidity ratio (LR) is established in order to evaluate and ensure the sufficiency of liquid assets for professional participants.
LR = LA / SL, where:
LA is the sum of highly liquid assets and includes:
Cash
Bank deposits
Government securities
SL is short-term liabilities combining:
Creditor debt
Tax debt
Accrued wages/withholdings
Social services debt
Other creditors
Short-term bank loans
Short-term liquidity ratio must not be lower than 0.5.
Professional participants must maintain aggregate liabilities at a level not exceeding five times the amount of equity capital.
Aggregate liabilities include:
– Bank loans;
– Other credit lines;
– State budget payments;
– Social insurance payments;
– Wages payments;
– Advance payments from clients;
– Dividend payment;
– Other payables
Professional securities market participants must form a reserve fund, the amount of which must be at least 5 percent of total accounts receivable.
DISCLOSURE
List of insider information according to Zaman policy:
The following are considered insider information by Zaman received from its clients:
Information contained within clients’ orders to be executed on securities transactions in case when execution of such orders may have a significant influence on prices of securities in question.
Information contained in clients’ orders to be executed with respect to concluding contracts on purchase and sale of securities, in case when execution of such orders may have a significant influence on prices of securities in question.
Information comprising significant condition of discretionary management contract, connected to executing securities transactions, in case when execution of discretionary management in accordance with given conditions may have a significant influence on prices of securities in question.
Information, contained in orders received from clients and to be executed, noted in paragraph 1,2 and 3 of this list, about the price and volume of securities, contracts and actions, which have to be realized in order for these orders to be executed.