Russian crisis bottles up plans to grow by Turkey's Efes invest

Article Abstract:

Efes Invest, a Turkey-based maker and distributor of Coca-Cola Co. brand drinks in Turkmenistan, Kyrgyzistan, Kazakstan, Azerbaijan and Southern Russia, is putting on hold new investments in light of the Russia's meltdown that started in August 1998. The company, which is both listed in Istanbul, Turkey, and London, UK, is form known as Efes Sinai Yatirim ve Ticaret AS and is a subsidiary of Efes Beverage Group. After opening its Coca-Cola production line in Turkmenistan, Efes Invest has cancelled the plans to put up a second facility in Kazakstan.

Comment:

Is putting on hold new investments in light of the Russia's meltdown that started in 8/98

Strategy & planning, Soft Drink Manufacturing, Bottled Soft Drinks, Soft drinks, Efes Invest

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Enka suffers in exposure to Russia

Article Abstract:

Enka Holding Yatirim AS's exposure to Russia has caused the company's shares to perform poorly. Enka's stocks are underperforming in the face of a fall in the local equity marketplace. The company has major energy, construction, and property projects in the Commonwealth of Independent States (CIS) and in Turkey, where the conglomerate is based. Enka is engaged in Moscow's real-estate market. In August 1998, the company's stock fell over 50% to 64,000 lira.

Comment:

Exposure to Russia causes company's shares to perform poorly

Diversified Companies, Securities prices, Enkar International Corp.

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Analysts see strong year for Akbank

Article Abstract:

Akbank TAS is expected to experience another strong year in 1999, according to analysts. The bank is expected to post net income higher than its 32% figure in 1998. The bank posted the strong performance even as it confronted political and market instability. Akbank is the second-largest bank in Turkey. The bank has a strong balance sheet, which makes it attractive to investors.

Comment:

Analysts expect bank to experience another strong year in 1999

Commercial Banks, Commercial Banking, Sales, profits & dividends, Banking industry, Finance, Abstract, Akbank Tas

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