The total assets of Synergy Group increased at 60.4% during the past year, amounting to 136 262 480 manat.
As stated in the consolidated financial statement of the Group on its website during the reporting period, the total investment amounted to 17,242,920 manat (an increase of 6.3 times), receivables - 13,943,310 manat (+ 19.8%), prepayments - 11,336 160 manat (an increase of 6 times).
Obligations by the top of 2014 were equal to 3,679,650 manat (+ 60.2%), including payables - 3,002,410 manat (an increase of a factor of 2).
The Group's equity in the reporting period was 132 582 840 manat (+ 60,4%), and the accumulated losses were 33,141,470 manat (an increase of 2.1 times).
Total losses in the Group last year amounted to 20 million manat, increasing twofold.
JSC Synergy Group was founded in 2010. It invests in a number of strategic areas of the industry, managing a portfolio of 24 companies in various fields. The Group's share capital is 15 million manat. --17D-
Economics
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In the "Contract of the Century," 13 companies from 8 countries (Azerbaijan, the USA, the United Kingdom, Russia, Turkey, Norway, Japan, and Saudi Arabia) participated. The companies involved were Amoco, BP, MakDermott, Yukos, ARDNŞ, LUKoyl, Statoil, Exxon, Turkish Petroleum, Pennzoil, Itochu, Remko, and Delta.
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Azerbaijani Economy Minister Mikail Jabbarov met with a Chinese delegation led by Shen Yi, Deputy Executive Chairman of the All-China Federation of Industry and Trade, on Tuesday to explore collaboration on green energy transition and expand bilateral trade and economic ties.
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Azerbaijan’s Working Group on International Trade held its latest meeting on September 19, assessing the nation’s progress in enhancing its trading environment over the past year. Chaired by First Deputy Economy Minister Elnur Aliyev and Vusal Shikhaliyev, the session included representatives from various government agencies and the private sector.
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Azerbaijan commemorates the 30th anniversary of its pivotal Production Sharing Agreement (PSA) for the Azeri-Chirag-Guneshli (ACG) oil fields, a cornerstone of the nation’s economic transformation. Signed on September 20, 1994, the PSA was extended in 2017 through 2049, ushering in the second phase of what is dubbed the “Contract of the Century.”
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