NEW DEVELOPMENTS AT "BOR"

Primorsky Krai arbitration court introduced receivership procedures at "Bor" in late December.

As "ZR" was informed by its administration, Alexander Karlin, temporary manager since 19 September 2002, was appointed receiver. The court decision to apply receivership procedures to Bor, Russia and CIS's only producer of high-quality boron products from local mineral resources, was initiated by its creditors on 12 September 2003.

With debts exceeding 1 billion rubles as of 1 September 2003, creditors don't believe Bor is able to repay this debt.

"ZR" FILE: Bailout management was introduced at Bor by Primorsky Krai arbitration court on 24 June 1998 and extended on 8 November 2000 till 2008 on the regional administration's guarantees. - Olga DOBROLYUBOVA.

LEGISLATORS INTEND TO INVESTIGATE SITUATION AT "BOR"

The legislative assembly of Primorsky Krai will continue making so-called "deputies" inquiries. This time lawmakers will investigate situation at JSC Bor, pronounced bankrupt after early termination of bailout procedures.

A dedicated working group will undertake the inquiry. Some lawmakers, believing that "bankruptcy procedure is not the only method to solve problems," intend to scrutinize Bor's financial and economic condition and apply to arbitration court for postponement of receivership procedures, says spokesman for the legislative assembly. - Yury ROGOV.

BORDER GUARDS SAVED OVER 4,000 CRABS IN HALF MONTH

Pacific border guards have detained five ships, including one foreign, since year's beginning and released more than 4,300 live crab specimens into their natural habitat.

As spokesman for FSB's Pacific office reports, more than 500 tanner crab specimens were released from a catcher registered in Petropavlovsk-Kamchatski and detained in the Peter the Great Bay on 8 January. The catcher was escorted to Vladivostok for investigation. - Yevgeny ITAROV.

LOOK FOR "MINOR ALPS" IN KHABAROVSKY KRAI

A mountain skiing resort to be opened in Khabarovsky Krai is already unofficially called "Minor Alps."

The resort is being constructed in the area between Solnechny and Gorny townships in Solnechny Raion. It will comprise 16 accommodation buildings, restaurant, skating rink, chair lift. Total length of the mountain skiing course will be 1,800 m. A rail spur will be laid to the resort. To date, the design has been completed and construction of first buildings started. Khabarovsky Krai's first mountain skiing resort will be put into service step by step till 2008. - Yulia PROKHOROVA.

FESCO STOCKHOLDERS WILL MEET IN JANUARY

FESCO's annual shareholders meeting scheduled for 23 January will have two items on the agenda - dividend for 9 months of 2003 and approval of a major deal.

As "ZR" was informed by FESCO director general Yevgeny Ambrosov, the board has recommended not to pay dividend by results of 9 months of 2003. According to ZR's sources, payment of intermediate dividend was required by the state.

The second item on the agenda will be approval of purchase, upon the Central Bank of Russia's authorization, of 100% in FESCO Supply Shipping Ltd. (Cyprus) and issue, also upon the Central Bank of Russia's authorization, of a corporate guarantee to ING Bank N.V. for $61,292,310 against execution by Talgona Shipping Company Ltd. of its obligations under the agreement of 30 October 2003 signed with ING Bank N.V. "This is being done as part of proper legal procedures to get a loan for construction of a unique icebreaker supply vessel," said Yevgeny Ambrosov. - Oleg KLIMENKO.

ROSNEFT - NAKHODKANEFTEPRODUCT WILL HAVE SHAREHOLDERS MEETING ON 26 JANUARY

Shareholders of Rosneft-NakhodkaNefteProduct, affiliated to Rosneft, will have an extraordinary meeting on 26 January to elect a new board of directors.

As spokesperson for Rosneft-NNP Natalia Popravko informed "ZR," the extraordinary meeting to be held in Moscow was initiated by minor shareholders Cramer Associated, Firetop and Parsipani (Cyprus). By her words, the minor shareholders propose three candidates of theirs to the board.

The serving board of Rosneft-NNP elected at the annual meeting on 23 May 2003 consists of Rosneft president Sergei Bogdanchikov, Rosneft-NNP director general Nikolai Petelin, Rosneft's exports department director Dmitry Bogdanov, Rosneft's deputy personnel manager Valery Arefiev, and Rosneft-Sakhalinmorneftegas director general Ramil Valitov.

"ZR" FILE: Rosneft-NakhodkaNefteProduct has a charter capital of 22,596,000 rubles split into 847,350 ordinary and 282,450 preferred shares with a face value of 20 rubles. Main shareholders are Rosneft - 38% (51% of voting shares), ZAO Depositary and Clearing Company (nominal holder) - 38.43%. - Oleg KLIMENKO.

FISHING COMPANY BAMR INCURS LOSSES

Nakhodka Base of Deep-sea Fisheries (BAMR in Russian), Primorsky Krai's largest fish producer, finished 9 months of 2003 with net losses of 42,647,000 rubles versus 62,998,000 rubles of net profit a year ago.

As "ZR" was explained by BAMR administration, losses resulted from down-time due to the lack of fish quotas, underuse of 'lemonema' quotas and higher costs for procurement of circulating assets.

BAMR's sales receipts plummeted 10.3 times on 9 months of 2002 and amounted to 1,730,913,000 rubles. Pre-tax losses totaled 26,935,000 rubles versus 80,623,000 rubles in the black a year before. Loss from sales is 28,349,000 rubles versus profit of 138,562,000 rubles during 9 months of 2002.

"ZR" FILE: 50% of BAMR's stock belongs to ZAO Dalinvestgroup (controlled by EurasHolding) and 4.42% is held by ZAO Aktsia. - Oleg KLIMENKO.

SARS CONTROL TIGHTENED ON BORDER

SARS precautions have been tightened at all Russian-Chinese border crossing points in Primorsky Krai.

Additional preventive measures were taken after the World Health Organization confirmed that a Chinese journalist from Guandong Province had SARS.

Though this Chinese province has no borders with Primorye on land (the bulk of Chinese nationals cross the land border of Russia) and tourists from there come to Vladivostok only and spring and summer, medical authorities already take precautions.

"Russia's chief sanitary officer Gennady Onishchenko signed on 6 January a directive on a higher level of security on the Russian-Chinese border," said Anatoly Pereverzev, Primorsky Krai chief sanitary officer for waterborne and air transport, in an interview with "ZR." "This document requires additional precautions and control. In other words, we tighten control over health condition of people arriving from China at border crossing points, in airports and railway stations."

All tourists arriving from China are interviewed by a sanitary officer regarding their health condition and have temperature measured. - Svetlana CHEREPANOVA.

SAILORS NOT RECOMMENDED TO GO ASHORE IN CHINESE PORTS

Far Eastern shipowners were instructed to allow as few crewmen as possible to go ashore in Chinese ports due to SARS fears.

When ashore, seamen should wear masks and refrain from visiting shows and entertainment areas. Ships departing to foreign countries must be equipped with additional preventive means against respiratory virus infections, antibiotics and anti-virus medications. Ships calling to Chinese ports must have each crewman's temperature measured every day. Those having high temperature (over 38 degrees C) and showing first signs of disease must be isolated from the crew. - Yulia PROKHOROVA.