Daily monitor

The Luhansk-based Stakhaniv Railcar Works [SVGZ UZ, U/R], one of the largest wagon producers in Ukraine and part of the AvtoKrAZ holding, held its shareholders meeting on April 6, at which time it was decided that the company would not pay out dividends for 2008.

According to a note from the National Bank of Ukraine, foreign reserves dropped 4.2% (USD 1.066 bln) MoM in March, thus reaching USD 24.392 bln. The YTD decrease, therefore, has reached 22.4% (USD 7.070 bln). The balance of Interbank interventions in March reached USD 1.077 bln.

The National Energy Regulating Commission has revised the investment program of Chernivtsioblenergo [CHEN UZ, BUY] and increased it by 5.9% to UAH 32 mln (USD 4 mln).

According to the website of the European Bank for Reconstruction and Development (EBRD), Ukreximbank, a 100% state-owned bank, is going to receive a subordinated loan for up to USD 250 mln from the EBRD for a term of up to ten years.

According to the AvtoKrAZ holding company [KRAZ UZ, N/R], which held its AGM in Kremenchug on Friday, the company decided to not pay out dividends. Instead, KRAZ will forward 95% of its recorded 2008 net profit of UAH 66.117 mln (USD 12.47 mln) towards the company’s development and the remaining 5% towards the company’s reserve fund.

According to an April 02 official regulatory filing, Perekop Bromine [BROM UZ, N/R] has gone into reorganization in relation to bankruptcy court proceedings. The reorganization will last 12 month starting from March 26, 2009.

According to a note from Ukraine’s State Treasury, the budget profits in 1Q09 were UAH 43.8 bln (USD 5.7 bln), or 101.3% of the planned figure. At the same time, budget profits in March were UAH 17.4 bln (USD 2.3 bln) or 102.2% of the planned profits.

According to information published in the Kommersant newspaper, local machinery companies may receive orders for the modernization of the Gas Transportation System (GTS). The order book is valued at about USD 1.43 mln.

On March 31, Kryukiv Railcar [KVBZ UZ, U/R] announced the cancellation of its recent decision regarding the suspension of production activities, a decision that was taken upon receiving an order from Russia for production of 1 thsd grain cars.

After negotiations with the government, the NERC has cancelled its decision of March 19, 2009 to raise the electricity tariff for residential users that consume more than 0.4 MWh per month, which grew by a factor of 3.1 to UAH 726 (USD 94) per MW, including 20% VAT, as of April 1, 2009.