The JSC MangystauMunaiGas has reportedly presented its financial statement for the first 9 months of 1998 to the KASE. As of 1 October 1998, the company's paid-up authorised capital stood at KZT 10,894,602 (USD 135,843), the same as a year ago. However, compared with the same period last year, the company's shareholder equity (share capital plus retained earnings) has almost halved to KZT 7,948,701 (USD 99,111). Net assets fell to KZT 30,717,648 (USD 383,013) from KZT 44,340,819 a year ago. The book value of one of the company's shares decreased by KZT 624.98 (USD 7.8) due to a KZT 6.8m decrease in the company's shareholder equity. As a result of its performance over the past nine months, the company has KZT 647,045 (USD 8,068) in losses compared to a net income of KZT 15,557,113 (over USD 190,000) a year ago. (Interfax)

The Jezkazgan copper smelter of Kazakhmys Corporation, Kazakhstan's largest copper producer, produced 179,550 tonnes of blister and 175,557 tonnes of cathode copper between January-October 1998. Compared with the same period of 1997, these indicators rose 1.6% and 2.3%, respectively. The plant's managers expect that the production volume will reach 211,000 tonnes by the year's end. The plant employs 2,300 people. The average monthly wage is KZT 15,000 (USD 180). (Interfax)

According to Reuters, the following net incomes were reported by several large Kazakhstani banks as of 1 October 1998: