OREANDA-NEWS. On April 14, 2008 regular General Shareholders Meeting of SCM took place. The owners approved the report of financial and economic performance of the company in 2007, reported the press-centre of SCM.

Net profit of SCM (without financial performance of Group enterprises) in 2007 totalled UAH 19,528,944,400.

Following the decision of shareholders, the profit of SCM in 2007 remains undistributed and will be allocated on Group business development.

“SCM remains committed to investing in development of Group business, firstly in Ukraine. We plan to develop our traditional industrial businesses – mining and metals, as well as power generation and distribution – and new areas. We will pay special attention to development of our financial institutions – banks, insurances, and also real estate business managed by ESTA Holding. We also intend to commit substantial funds on developing our media  business, in particular, building an effective publishing holding Syegodnya Multimedia”, Oleg Popov, CEO of SCM, commented on the decision.

Also, the shareholders approved the report of the Audit Commission regarding the results of financial and economic performance of SCM in 2007.

Profile:
System Capital Management is a professional investor, which owns and controls assets in mining and metals, energy-generating industries, telecommunications, banking, insurance, media, as well as retail and real estate sectors.

In particular, SCM Group includes Metinvest Holding, DTEK, Farlep-Invest, Optima-Telecom, SCM Finance, Syegodnya Multimedia, TRK Ukraina, ESTA Holding, Ukrainskiy Retail, and others.

SCM is 90% owned by businessman Rinat Akhmetov.