Three companies from the same group left their shareholders without dividends due to losses

Three Kyrgyz companies—Regional Investment Corporation OJSC, Vostochny Vector OJSC, and BIG DATA OJSC—decided not to pay dividends to their shareholders following the results of 2025. The reason was the same in all cases: unprofitable operations.

The companies’ decisions were virtually identical. All three held their annual shareholder meetings on May 18, approved the financial statements for 2025, approved the budgets for 2026, and decided not to distribute profits due to losses.

The companies are united not only by their financial results but also by a common management structure. In all cases, the functions of the counting commission were performed by Alexander Kovanov, CEO of Telesat CJSC. Furthermore, the same managers and auditors appear within the companies’ structures.

For example, Apsamat Karashev retained his position as CEO of OJSC “Regional Investment Corporation.” At OJSC “Vostochny Vector,” he was reappointed as internal auditor, and at OJSC “BIG DATA,” he transitioned from the role of auditor to that of internal auditor.

However, the companies have different CEOs. Apsamat Karashev retained his position at Regional Investment Corporation; Sheishenbek Mukhambetov was appointed CEO of Vostochny Vector; and leadership at BIG DATA was transferred to Ainash Shakirova.

Another common feature is that all three companies have instructed their executives to independently select an auditor to review the 2026 financial statements and enter into the relevant contracts.

Judging by the decisions of the shareholders’ meetings, the companies are continuing their operations and expect to improve their financial results. However, based on the results for 2025, none of them was able to generate enough profit to pay dividends to shareholders.

Against the backdrop of the recent decision to voluntarily liquidate OJSC “Eurasian Financial Corporation,” which also involved many of the same managers and consultants, it is noteworthy that several interconnected companies are demonstrating a similar corporate structure while simultaneously ending the year with losses.