JSC Kazakhtelecom will convene its annual general shareholders' meeting on 23 November 1998 in Almaty. The meeting's agenda includes approving Kazakhtelecom's draft charter, voting for members of the Board of Directors, and electing the company's auditor and audit commission. The shareholders will also consider the company's financial statements for 1996-1997 and the auditors statement for 1997 as well as the payment of 1997 dividends on preferred shares and the mechanism to convert the company's preferred shares into common shares. (Kazakhstanskaya Pravda)

JSC Ust-Kamenogorsk Titanium and Magnesium Plant (based in the east of Kazakhstan) has reported a profit of KZT 760,739,000 (USD 9.3m) in the 3Q98. As of 1 October, 1998, the par value of one of the company's shares was KZT 5,070.70 (USD 62.25). In 1997, the company had a profit of KZT 1.411bn (USD 18.7m), exceeding 1996's profit by 1.5 times. The company has approved a dividend fund for 1997 in the amount of KZT 44,899,00 (USD 551,246) or 5% of its net profit. One share will thus pay KZT 41.8 in dividend. The plant produces high-quality titanium sponge which is used in aviation as well as refined metal magnesium. (KASE)

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JSC Aluminium of Kazakhtan (based in the north of Kazakhstan) had a profit of KZT 481,275,000 (over USD 5.9m) in the 3Q98 after it had a loss of KZT 182,368,000 (some USD 2.4m) in the same period last year. As of 1 October, the par value of company's shares increased slightly to KZT 125.72 (USD 1.54) from KZT 101.38 (USD 1.34) in the same period last year. The increase in the share's par value is due to a KZT 1.4bn increase in the company's net worth during the first 9 months of 1998. The company's major customers are Russia's aluminium plants. (KASE)