Daily monitor

Interfax-Ukraine reported that Zaporizhstal [ZPST UZ, U/R] quoted UAH 47.7 mln (USD 9.1 mln at the FY08 average USD/UAH of 5.27) as the 2008 net income in the agenda of the AGM announced for April 08. The questions on the agenda, as reported briefly by Interfax-Ukraine, do not include any “abnormalities” such as share offerings or mergers.

Myronivskiy Khliboprodukt [MHPC LI, HOLD], one of the Ukrainian leading companies in the consumer and agricultural sectors, has released its operational results for 2H09.

The "AIS" Corporation has announced that the Kremenchug Car Factory (KrASZ) has suspended production until April due to the economic crisis. According to its press service, the assembly line was halted temporarily due to a non-win situation in all sectors of Ukraine’s economy at the moment. The company expects to resume operations in April.

Zaporizhtransformator [ZATR UZ, N/R] – the world's largest manufacturer of transformer equipment – has announced its preliminary financial results for 2008 in advance of its annual shareholder meeting, which will take place on March 31.

The electricity distribution company Dniprooblenergo [DNON UZ, U/R] has stated it recorded a UAH 83.7mln (USD 15.9 mln) net income in 2008, which is a 195% gain compared to the 2007 figure. The company’s net sales climbed 13.5% YoY to UAH 8,023.3 mln (USD 1.5 bln).

Sumy Frunze Machine Building [SMASH UZ, N/R], one of largest European producers of equipment for the oil, gas, and chemical industries, has reported on the successful delivery of gas transfer station equipment to Uzbekistan, which will be used for an underground Gazli gas storage facility. According to Interfax, this equipment is valued at approximately USD 75 mln.

On Tuesday, the press service of Rodovid Bank [RODB UZ, U/R] announced that the ISTIL Group is going to acquire a 39% stake in the bank in March.

The Cabinet of Ministers of Ukraine has established the procedure for VAT compensation for grain traders, in order to reimburse its debts on VAT.

According to data released by the State Statistics Committee of Ukraine, Ukraine’s industrial output fell 34.1% YoY in January 2009, following a drop of 19.8% in October 2008, 28.6% in November, and 26.6% in December. Industrial output, therefore, fell 16.1% MoM in January 2009, as compared to a 12.4% drop in January 2008.

The trade balance deficit grew to USD 13.5 bln in 2008, as stated in a note by the State Statistics Committee of Ukraine. The figure amounts to nearly -8.4% of the anticipated GDP and is 70.9% of the 2007 USD 7.9 bln (-5.6% of GDP) trade balance deficit figure.