Romanian SIF Moldova Books RON144M Provisions For '08 Fincl Yr

Romanian investment fund SIF Moldova (SIF2.RO) booked in 2008 financial year provisions worth 143.6 million lei (EUR1=RON4.2329), due to the decreases in value of the shares it owns.

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The provision will impact the fund's capital, and not its profit, that stood at RON93.9 million in 2008.

SIF Moldova’s own capitals at the end of 2008 totaled RON340.6 million, down 12.3% on the year.

Initially, SIF Moldova announced mid-February that it booked RON130 million provisions. At that time, the fund’s board registered the provisions in its profit and loss account, which led to a cut of the profit to RON1.9 million.

Afterwards, the National Securities Commission CNVM changed a rule to reflect the provisions booked for participation devaluations in the funds' own capitals, without affecting the profit.

According to the new rule, the investment fund kept its profit for last year and announced it plans to offer dividends worth RON23.3 million, or RON0.0450 per share.

Shares of regional investment fund SIF Moldova (SIF2.RO) rose 1.39% on the day, at RON0.43, at a total traded value of RON1.29 million. At this price, the fund’s market value is at RON226.8 million.

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