F.E.B.R.A.S. TO CO-FOUND HIGH TECHNOLOGY BOURSE

The Far Eastern Branch of Russian Academy of Sciences (FEBRAS) became one of co-founders of the High Technology and Projects Exchange currently being set up in Moscow.

This decision was made by FEBRAS Presidium to promote commercialization of perspective research results achieved by Far eastern scientists. - Yevgeny ITAROV.

YAKUTIA PUTS OUT SEVEN GOLD DEPOSITS AT AUCTION

The Natural Resources Office and the government of Yakutia announced auctions for subsurface use rights to explore, prospect and produce vein and placer gold.

Auctions will be held on 28 July. Applications are received by the State Geological Committee of Yakutia, eligible for auctioning are juridical persons, partnerships and foreign citizens.

The main criterion for selecting winner is the sum of a lump sum payment for subsurface use. The starting sums depends on deposit-specific characteristics and varies from 18,000 to 1,5 million rubles with consecutive bids to be at 10%. Produced gold will belong to subsurface user. - Yury ROGOV.

YURY KOPYLOV INTENDS TO REMAIN IN MAYOR'S CHAIR

Vladivostok seating mayor Yury Kopylov announced his intention to take part in the mayoral elections on 4 July.

To date, the city electoral commission has received five applications - from Vladimir Murashov, Vladimir Gilgenberg, Alexander Yurtayev, Yury Korsakov, Svetlana Nikolayeva. - Yury ROGOV.

DALMOREPRODUCT'S CREDITOR CROWDS THINNING OUT

Arbitration court ruled on 28 April that OOO Kil holding 8% of DMP's voting debt had been included in the creditors' register unlawfully.

It should be reminded that earlier arbitration court removed from the register OOO Dalmoreproduct-Trawlers' claim for $67 million. Both Kil and DMP-Trawlers are reportedly managed by local entrepreneur Ruslan Kondratov struggling for DMP with the Bank of Moscow. - Olga DOBROLYUBOVA.

GAS DIVIDEND

It is expected that OAO Primorsky Gas will pay dividend at 0.60 rubles per each ordinary share with a face value of 1 ruble.

Its annual general meeting is scheduled for 3 June in Arseniev. Shareholders will approve an annual report, accounting reports, distribute profit, elect a new board and auditing commission, approve auditor for 2004. The list of shareholders eligible for attendance is based on the register as of 17 April 2004.

As Became known to "ZR," Chung Yeng Investment Company Limited (Hong Kong) bought a 17.8-% stake in Primorsky Gas from Bimah General Trade Limited (Cyprus). Another large stake was acquired by Yevgeny Galinsky, who bought out 13.65% from OOO Angebot. Financial terms and conditions of these two deals have not been divulged.

"ZR" FILE: Primorsky Gas supplies liquefied gas to the region. Its charter capital is 29,300 rubles and split into 29,300 ordinary shares with a face value of one ruble. The former Ministry of Proprietary Relations holds 25.5%, 10.6% belongs to BrokCo. - Olga DOBROLYUBOVA.

P.N.P. WILL DIRECT PROFIT TO DEVELOPMENT

The board of oil product supplier OAO PrimorNefteProduct (PNP) recommended to the annual general meeting scheduled for 22 May to pay no dividend for 2003 and direct net profit to company development, as "ZR" was informed by its representative.

PNP paid no dividend for 2002 as well and directed net profits to company development. Net profit for the past year decreased by 61% on 2002 and amounted to 111,007,000 rubles.

"ZR" FILE: PNP's charter capital is 156,753 rubles and split into 12,441,400 ordinary shares and 3,233,900 preferred "A" type shares with a face value of 0.10 rubles. 62.1% is held by NC Alliance.

NEW DEVELOPMENTS IN VLADIVOSTOK FISH PORT

At their extraordinary meeting on 1 July, shareholders of Vladivostok Fish Port (VFP) intend to consider early termination of service contracts of the board members and elect a new board.

By "ZR" data, the extraordinary meeting has been initiated by new shareholders who have consolidated 54% of ordinary registered shares of stock and passed it into nominal holding by Dalnevostochny Bank.

As was reported earlier, companies close to OOO PrimVtorSyrye, Far East's largest metal scrap exporter, bought out from minor shareholders about 30% of VFP's stock.

PrimVtorSyrye director general Yevgeny Pozhitkov said "ZR" that the package had been bought by a "group of foreign and Russian investors related OOO PrimVtorSyrye management through joint projects."

"ZR" FILE: VFP's charter capital is 189,204 rubles and split into 141,903 ordinary and 47,301 preferred shares with a face value of one ruble. 27.7% is held by the former Ministry of Proprietary Relations. - Olga DOBROLYUBOVA.

NIIGATA GOVERNOR VISITED RUSSIA

Niigata Prefecture Governor Hirayama Ikuo came in Primorsky Krai on 10 May.

He met with vice governor Viktor Gorchakov and Vladivostok mayor Yury Kopylov to discuss plans on promoting a joint project between Russia's northeastern areas and Japan. One of key ideas of this project is to explore potential for using the Trans-Siberian Railroad in cargo shipping via Niigata port and tourism development.

Yury Kopylov proposed to expand the cooperation project by production of household appliances at local defense plants, seafood products at local fish processing factories, to organize a chain of restaurants with Japanese cuisine and assembly of Toyota automobiles.

The governor assured he will bring these proposals to knowledge of Niigata businessmen. Until now, he noted, Japanese entrepreneurs were anxious about risks but economic stability is Russia revitalizes their interest to cooperation.

On 11 May, the Japanese delegation met in Khabarovsk with presidential envoy to Far East Konstantin Pulikovsky and discussed prospects for developing long-term cooperation between Niigata and Russian Far East regions in economy, culture and education. Then, the visitors departed for Moscow to attend a symposium under the title "New Northeast Aisa in Moscow 2004." - Yury ROGOV.

U.S. BANKERS LEARNT POTENTIAL FOR COOPERATION WITH RUSSIAN FAR EAST BANKS

An international conference entitled "Russian Far East Banks - U.S. Banks: Potential for Cooperation," organized by the Russian American Pacific Partnership was held in San Francisco.

The purpose of this event was to further develop cooperation between companies and financial institutions of two countries. The meeting took place 100 years after a branch of the Russo-Chinese Bank was opened in California and Russian bank capital came to this area. The American organizers considered the symposium as coming back of Russian banks to American land.

The meeting was attended by top managers of six Far Eastern banks, representatives of U.S. Eximbank, International Financial Corporation (IFC), OPIC investment corporation, commercial banks, auditing and law firms as well as concerned representatives of business community.

Discussions focused on expansion of correspondence linkages, use of credit products from American and international insurance companies, measures against money-laundering, prospects for transition of Russian banks and companies to international accounting standards, possibilities for joint financing of projects on modernization of production facilities in the Far East.

This issue will be elaborated at RAPP's next session scheduled for 14-17 June in Seattle. Possibilities for involving Russian and American banks in mortgage loan programmes in the Far East will also be considered in Seattle. - Yulia PROKHOROVA.

"MEGAPHONE" CONTINUES CAPTURING FAR EAST MARKETS

After opening a subscriber service centre in Birobidzhan, Megaphone-Far East became Jewish Autonomous Oblast's first operator to provide mobile phone services under GSM-900/1800 standard.

As its spokesman says, same tariff plans are offered here as in Khabarovsky Krai and Primorye.

NOTE. Megaphone's Far Eastern net comprises 50 base stations manufactured by Huawei Technologies (China). Two commutation centres for 60,000 numbers each and option to expand capacity to 400,000 numbers are located in Khabarovsk and Vladivostok. They are also equipped with SMS centres and intellectual platforms offering additional services to subscribers. - Yury ROGOV.

KALININGRAD - VLADIVOSTOK MOTORWAY IS PRIORITY

Igor Levitin, minister of transport and communication, declared that the reviewed target-specific programme "Modernization of Russia's Transport System in 2002-2010" will place emphasis on development of all roads included in international transport corridors.

He further said that a final version of the national programme should be presented by the government by 1 October. In the meantime, half of Russia's total length of motor roads remains in a poor condition. In particular, the road net is underdeveloped in the North, Siberia and Far East, which makes it difficult to use rich natural resources of vast territories.

Also by 1 October, motor roads should be specified for use of which the government plans to collect tolls and size of tolls. First of all, Levitin said, "it makes sense to organize toll roads in areas where individuals are wealthy enough and where there are free alternative routes." - Yevgeny ITAROV.