CJSC Ekol Muhendislik Khidmetleri published the annual and financial reports (http://goo.gl/jo0GTd) for 2015, according to which, the company's loss decreased by 37% compared to the year 2014 and amounted to 1.4 million manats.
In 2015, revenues for environmental services in Azerbaijan totaled 9.4 million AZN, 23% less than in the previous year. Operating losses for the year reached 3 million manats. However, due to the equity of the company AAS-Ekol in the income in the amount of 1.5 million AZN, the consolidated loss of Ekol Muhendislik Khidmetleri declined by about half.
In 2014-2015, the company’s undistributed profit fell from 11.2 million to 7.5 million manats.
CJSC Ekol Muhendislik Khidmetleri was established in 2006. Its shareholders are SOCAR - 51% and Lancer Services S.A. (Panama Republic) - 49%. Nothing is known about the founders of Lancer Services S.A. This is not mentioned on the http://lancer-sa.com/ corporate website. From this resource it is clear that it operates only in Azerbaijan. The Panama registry has no information about that, either (http://www.panamaregistry.org/lancer-services-s-a).
Recently, an international network of investigative journalists released documents on offshore companies in Panama, under the name of the notorious Panama Papers. The name Lancer Services S.A. is not present in them yet. ----08D
Economics
-
President Ilham Aliyev signed a decree on 27 Desember to implement the law on the 2025 State Social Protection Fund budget, setting forth measures to ensure the effective execution of the fund’s financial framework.
-
Azerbaijani President Ilham Aliyev has issued a decree to implement amendments to the country’s Tax Code, approved by Parliament on December 16, 2024, under law number 98-VIIQD. The decree, published on Friday, is aimed at optimizing tax administration and strengthening the legal framework outlined in the revised legislation.
-
Azerbaijan’s parliament has approved a law establishing minimum living standards for 2025, with specific allocations for various demographic groups. The legislation, signed by President Ilham Aliyev on December 16, will come into force on January 1, 2025. The presidential decree was published on December 27.
-
The President of Azerbaijan issued a decree on December 27, 2024, to implement the "2025 State Budget Law" aimed at streamlining the allocation and execution of government expenditures. The legislation, codified under law number 93-VIIQ, outlines detailed budget appropriations across various sectors, reflecting strategic priorities in defense, education, healthcare, and infrastructure.
Leave a review