BAK » Topics » 5 Marketable Securities

This excerpt taken from the BAK 6-K filed Aug 25, 2009.

5 Marketable Securities

    Parent company    Consolidated 
       
    Jun/09    Mar/09    Jun/09    Mar/09 
         
Current assets                 
   Public securities issued abroad    286,762    327,348    286,762    327,348 
                 
         
   Total    286,762    327,348    286,762    327,348 
         
 
Long-term receivables                 
   Investment fund    9,308    8,311    9,308    8,311 
   Other            1,908    1,870 
         
    9,308    8,311    11,216    10,181 
         
 
   Total    296,070    335,659    297,978    337,529 
         

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Public securities issued abroad are represented by U.S. Treasury bonds and were classified by the Company as “available for sale”. The portion corresponding to the variation in fair value was recorded in the “Adjustments of equity valuation” account in shareholders’ equity, in the amount of R$ 2,321 (1st quarter – R$ 6,538), net of taxes.

This excerpt taken from the BAK 6-K filed May 19, 2009.

5 Marketable Securities

    Parent company    Consolidated 
     
    Mar/09    Dec/08    Mar/09    Dec/08 
         
Current assets                 
   Public securities issued abroad    327,348    331,452    327,348    331,452 
   Other        5,563        5,563 
         
   Total    327,348    337,015    327,348    337,015 
         
 
Long-term receivables                 
   Investment fund    8,311    9,717    8,311    11,550 
   Other            1,870     
         
    8,311    9,717    10,181    11,550 
         
   Total    335,659    346,732    337,529    348,565 
         

Public securities issued abroad are represented by U.S. Treasury bonds and were classified by the Company as “available for sale”. The portion corresponding to the variation in fair value was recorded in the “Adjustments of equity valuation” account in shareholders’ equity, in the amount of R$ 6,538 (Dec/08 – R$ 7,998), net of taxes.

This excerpt taken from the BAK 6-K filed Mar 16, 2009.

5 Marketable Securities

        Parent company        Consolidated 
     
 
    2008    2007    2008    2007 
         
 
Current Assets                 
   Public securities issued abroad    331,452        331,452     
   Investment Fund        45,387        248,699 
   Others    5,563        5,563     
         
   Total    337,015    45,387    337,015    248,699 
         
 
Long-term receivables 
               
   Investment fund    9,717        11,550    118,141 
   Others                1,648 
         
 
    9,717        11,550    119,789 
         
 
   Total    346,732    45,387    348,565    368,488 
         

Public securities issued abroad are represented by American treasuries bonds and were classified by the Company as “available for sale”. The part corresponding to the variation of the fair value was recorded in the “Adjustments of equity valuation” account in the shareholders’ equity, in the amount of R$ 7,998 (Note 21(g)), net from taxes.

On December 31, 2007, the investment funds included investment fund where Braskem is the exclusive quotaholder of the investment fund stated as “Parent Company” . The portfolio comprises time deposits at Banco Credit Suisse First Boston Bank (“CSFB”). In February 2008, the deposits certificates were redeemed by the Company.

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This excerpt taken from the BAK 6-K filed Nov 24, 2008.

5 Marketable Securities

    Parent company    Consolidated 
     
 
    Sep/08    Jun/08    Sep/08    Jun/08 
         
 
Current assets                 
   Investment funds                8,212 
         
 
                8,212 
Long-term receivables                 
   Investment funds                10,509 
   Subordinated quotas in investment fund in credit                 
   rights    8,631    7,644    8,501    7,644 
   Other    8,973    7,462    1,902    8,469 
         
 
    17,604    15,106    10,403    26,622 
         
 
   Total    17,604    15,106    10,403    34,834 
         

This excerpt taken from the BAK 6-K filed May 19, 2008.

5 Marketable Securities

    Parent company    Consolidated 
     
    Mar/08    Dec/07    Mar/08    Dec/07 
         
Current assets                 
   Investment funds        192,673    15,300    133,901 
   Investment in fixed-income instruments            138,078    114,798 
         
        192,673    153,378    248,699 
         
Long-term receivables                 
   Investment funds        265,695    189,574    118,141 
   Subordinated quotas in investment fund in credit rights    6,785        6,785     
   Other    8,199    8,303    8,105    1,648 
         
    14,984    273,998    204,464    119,789 
         
   Total    14,984    466,671    357,842    368,488 
         

At March 31, 2008 Copesul is the only quotaholder in investment funds, whose portfolio comprises Treasury Financial Bills (LFT), Bank Deposit Certificates (CDB) and simple debentures.

At December 31, 2007, the investment funds included an investment fund where Braskem was the only quotaholder and whose portfolio was comprised by time deposits at Credit Suisse First Boston Bank. The Company redeemed the deposit certificates in February 2008.

This excerpt taken from the BAK 6-K filed Mar 7, 2008.

5 Marketable Securities

    Parent company    Consolidated 
     
 
    2007    2006    2007    2006 
         
 
Current assets                 
   Public securities issued abroad        311,080        311,080 
   Investment fund    192,673    537,926    248,699    63,960 
   Subordinated quotas in investment fund in credit rights and others                38,851 
         
 
    192,673    849,006    248,699    413,891 
         
 
Long-term receivables                 
   Investment fund    265,695        118,141     
   Subordinated quotas in investment fund in credit rights        46,612         
   Other    8,303    16,848    1,648    1,628 
         
 
    273,998    63,460    119,789    1,628 
         
 
   Total    466,671    912,466    368,488    415,519 
         

Braskem is the exclusive quotaholder of the investment fund stated as “Parent company”. The portfolio comprises time deposits at Banco Credit Suisse First Boston (“CSFB”).

32


This excerpt taken from the BAK 6-K filed Aug 21, 2007.

5 Marketable Securities

    Remuneration    Jun/07    Mar/07 
       
Current assets             
   Investment fund    LIBOR – 0.15% p.a.    208,595    522,714 
       
 
        208,595    522,714 
       
 
Long-term receivables             
   Investment fund    LIBOR – 0.10% p.a.    288,930   
   Debentures with share in profit        6,826    6,826 
   Other    US$ + LIBOR (5.39% p.a.)   9,029    9,611 
       
 
        304,785    16,437 
       
 
        513,380    539,151 
       

Braskem is the only quotaholder of the investment fund recorded in current assets and non-current assets. The portfolio comprises time deposits at Credit Suisse First Boston Bank (“CSFB”).

This excerpt taken from the BAK 6-K filed May 15, 2007.

5 Marketable Securities

    Mar/07    Dec/06 
     
Current assets         
   Government securities issued abroad        311,080 
   Investment fund    522,714    537,926 
     
 
    522,714    849,006 
     
 
Long-term receivables         
   Debentures with share in profit    6,826    6,826 
   Subordinated quotas of investment fund         
      Credit rights        46,612 
   Other    9,611    10,022 
     
 
    16,437    63,460 
     
 
Total    539,151    912,466 
     

Braskem is the only quotaholder of the investment fund recorded in current assets. The portfolio comprises time deposits at Credit Suisse First Boston Bank (“CSFB”).

18


This excerpt taken from the BAK 6-K filed Mar 30, 2007.

5 Marketable Securities

    Parent company    Consolidated 
     
    2006    2005    2006    2005 
         
 
Current assets                 
   Derivative transactions        3,466    27,576    19,792 
   Government securities issued abroad    311,080        311,080     
   Investment fund    537,926        63,960    122,089 
   Subordinated quotas of investment fund – credit                 
   rights and other        37    11,275    3,913 
         
 
    849,006    3,503    413,891    145,794 
         
 
Long-term receivables                 
   Investment funds        551,235         
   Debentures with share in profit    6,826    7,305         
   Subordinated quotas of investment fund -                 
      credit rights    46,612    66,791         
   Other    10,022    10,972    1,628    325 
         
 
    63,460    636,303    1,628    325 
         
 
Total    912,466    639,806    415,519    146,119 
         

Braskem is the only quotaholder of the investment fund recorded in current assets. The portfolio comprises time deposits at Banco Credit Suisse First Boston (“CSFB”), maturing in June 2007.

This excerpt taken from the BAK 6-K filed Mar 2, 2007.

5 Marketable Securities

    Parent company    Consolidated 
     
    2006    2005    2006    2005 
         
 
Current assets                 
   Derivative transactions        3,466    27,576    19,792 
   Government securities issued abroad    311,080        311,080     
   Investment fund    537,926        63,960    122,089 
   Subordinated quotas of investment fund – credit                 
   rights and other        37    11,275    3,913 
         
 
    849,006    3,503    413,891    145,794 
         
 
Long-term receivables                 
   Investment funds        551,235         
   Debentures with share in profit    6,826    7,305         
   Subordinated quotas of investment fund -                 
      credit rights    46,612    66,791         
   Other    10,022    10,972    1,628    325 
         
 
    63,460    636,303    1,628    325 
         
 
Total    912,466    639,806    415,519    146,119 
         

Braskem is the only quotaholder of the investment fund recorded in current assets. The portfolio comprises time deposits at Banco Credit Suisse First Boston (“CSFB”), maturing in June 2007.

This excerpt taken from the BAK 6-K filed Nov 22, 2006.

5 Marketable Securities

  Sep/06    Jun/06 
     
 
Current assets       
 Foreign public securities  316,346     
 Investment fund  539,427    530,193 
 Other  6,982    6,651 
     
 
  862,755    536,844 
     
 
Long-term receivables       
Debentures with share in profit  6,826    6,826 
Subordinated quotas of investment fund - credit rights  66,743    66,158 
FINOR and other securities  10,221    10,174 
     
 
  83,790    83,158 
     
 
Total  946,545    620,002 
     

21


Braskem is the only quotaholder of the investment fund in current assets. Its portfolio comprises time deposits at Banco Credit Suisse First Boston ("CSFB"), maturing in June 2007. The investment is accounted for at realizable value and its risk is regularly reassessed by the Company.

This excerpt taken from the BAK 6-K filed Aug 29, 2006.

5 Marketable Securities

    Jun/06    Mar/06 
     
 
Current assets         
   Investment and other funds    536,844    8,539 
     
 
    536,844    8,539 
     
 
Long-term receivables         
   Investment fund        511,600 
   Debentures with share in profit    6,826    6,826 
   Subordinated quotas of investment funds – credit rights    66,158    67,275 
   FINOR and other securities    10,174    10,184 
     
 
    83,158    595,885 
     
 
Total    620,002    604,424 
     

The investment fund comprises a portfolio of foreign investment funds, the risk of which is regularly reassessed by the Company. The fund is recorded at realizable value.

24


This excerpt taken from the BAK 6-K filed Aug 29, 2006.

5 Marketable Securities

    Mar/06    Dec/05 
     
Current assets         
   Derivative transactions        3,466 
   Investment and other funds    8,539    37 
     
 
    8,539    3,503 
     
 
Long-term receivables         
   Investment funds    511,600    551,235 
   Debentures with share in profit    6,826    7,305 
   Subordinated quotas of investment fund - redit rights    67,275    66,791 
   FINOR and other securities    10,184    10,972 
     
 
    595,885    636,303 
     
 
Total    604,424    639,806 
     

Investment funds comprise a portfolio of foreign investment funds, the risk of which is regularly reassessed by the Company. These funds are recorded at realizable value.

This excerpt taken from the BAK 20-F filed Jun 23, 2006.

7  Marketable securities

 

     2005

    2004

 

Receivables Securitization Fund (FIDC) (*)

   13     26  

Term deposit

   1     55  
    

 

Total

   14     81  

Current

   (13 )   (69 )
    

 

Long-term receivables

   1     12  
    

 


(*) On March 1, 2004, the Company raised funds through the Copesul Receivables Securitization Fund (FIDC). The Fund is managed by Votorantim Assets and has net assets of R$ 76 at December 31, 2005 (2004—R$ 130), comprising R$ 63 (2004—R$ 104) in senior quotas and R$ 13 (2004—R$ 26) in subordinated quotas, all of which are held by the Company. Amortization of principal, which started in November 2004, will occur over a period of 22 months. Of the amount raised by the Fund, R$ 125 has been invested in billed and unbilled receivables originated by the Company from DSM Elastômeros Brasil Ltda. and Petroquímica Triunfo S.A. and R$ 25 in receivables from several other Copesul customers.

 

This excerpt taken from the BAK 6-K filed Feb 17, 2006.

5 Marketable Securities

    Parent company    Consolidated 
     
 
    2005    2004    2005    2004 
         
 
Current assets                 
   Subordinated quotas of investment fund –                 
     credit rights            3,913    4,664 
   Derivative transactions    3,466        19,792     
   Investment and other funds    37        122,089    16,935 
         
 
    3,503        145,794    21,599 
         
 
Long-term receivables                 
   Investment funds    551,235             
   Associated company shares held for sale        22,138        22,138 
   Debentures with share in profit    7,305    7,201        7,201 
   Subordinated quotas of investment fund -                 
     credit rights    66,791    27,867        3,109 
   Securitization reserve                24,955 
   FINOR and other securities    10,972    4,216    325    4,558 
         
 
    636,303    61,422    325    61,961 
         
 
Total    639,806    61,422    146,119    83,560 
         

Associated company shares held for sale correspond to the book value of shares in Borealis Brasil S.A. ("Borealis"), representing 20% of its total capital. In June 2005, the balance of such investment was transferred to permanent assets, in the line “Interests in associated companies” line, as the decision to sell the shares was reversed.

Investment funds comprise a portfolio of foreign investment funds, the risk of which is regularly reassessed by the Company. These funds are recorded at realizable value.

Investment fund resources under long-term receivables refers to transactions to finance subsidiaries included in the consolidated financial statements.

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Braskem S.A. and subsidiaries

Notes to the Financial Statements
at December 31, 2005 and 2004

In thousands of reais





This excerpt taken from the BAK 6-K filed Nov 18, 2005.

5 Marketable Securities

    Sep/05    Jun/05 
     
 
Investment funds    1,391,094    420,179 
Debentures with share in profit    6,894    7,448 
Subordinated quotas of investment fund - FIDC    25,484    23,950 
     
 
Total    1,423,472    451,577 
 
Current assets    (867,766)   (420,179)
     
 
Long-term receivables    555,706    31,398 
     

Investment funds comprise a portfolio of foreign investment funds, the risk of which is regularly reassessed by the Company. These funds are recorded at realizable values.

26


This excerpt taken from the BAK 6-K filed Aug 17, 2005.

5 Marketable securities

    Jun/05    Mar/05 
     
 
Investment funds    420,179     
Shares of associated company held for sale        22,356 
Debenture with participation in profit    7,448    7,422 
Subordinated quotas of investment fund    23,950    25,551 
FINOR other securities        1,776 
     
 
Total    451,577    57,105 
 
Current    (420,179)    
     
 
Long-term    31,398    57,105 
     

Investment funds comprise a portfolio of foreign investment funds, the risk of which is regularly reassessed by the Company. These funds are recorded at realizable values.

As of March 2005, associated company shares for sale were equal to the net book value of shares issued by Borealis Brasil S.A. ("Borealis"), representing 20% of its total capital. In June 2005, the investment balance was transferred to “Associated companies” in permanent assets, as the decision to sell such shares is under review.

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