OJSC Azerbaijan Industrial Corporation (APC) announced the audit report for the 2020 fiscal year. According to “Turan”, the report consists of one empty sheet.
Created in 2017 on the basis of toxic assets of the International Bank of Azerbaijan, the state corporation revealed the financial report for 2019 for the first time. However, even then the pseudo consisted only from the audit conclusion of three pages.
Last year, the APC posted the financial reports of five subsidiaries on the corporate Internet page, LLC AZERALUMINIUM, OOO “AZəRPAMBıQ ASK”, AZəRIPəK LLC, OOO “ASK AYAQQABY” and LLC “Ask şüşə”). In total, there are more than 50 legal entities on the corporation balance. Only 16 of them reported on the APC website.
According to the APC, in January 2020, an agreement was signed on the audit of the consolidated financial statements of the Corporation and its subsidiaries in compliance with international financial statements. Cost of the contract with CJSC Baker Tilly Azerbaijan 389.4 thousand manat or 229 thousand
Paid authorized capital of the APK is 500 million manat. In 2019, the government brought to the Balance of the Corporation’s unfinished residential complex “Yeni şəhər” in the Karagagsky district of Baku, estimated at 489.3 million manat (287.8 million US dollars).