Daily monitor

The Kyiv Cardboard Paper Mill [KIKP UZ, N/R] in Obukhiv (Kyiv Region) – a leading Ukrainian pulp and paper producer – has released a statement regarding its financial results for 2008. The company recorded a net profit of UAH 46.477 mln.

The electricity generating and distribution company Kyivenergo [KIEN UZ, U/R] failed to conduct a shareholders’ meeting yesterday. The key issues on the agenda of the failed AGM were the approval of KIEN’s 2007 financial results, distribution of 2007 net income, and changes to the company’s registrar.

At the end of 2008, the assets of Kyivmedpreparat [KMED UZ, BUY] was equal to UAH 859.248 mln, with long-term liabilities of UAH 179.847 and current liabilities of UAH 389.013 mln.

The International Grain Council (IGC) has increased its expectations related to the world harvest of grain and corn in the 2008/09 marketing year.

As reported by Ukrainian News, Prime Minister Yulia Tymoshenko directed several government bodies to prepare directives for allowing Ukrainian fertilizer producers to purchase natural gas directly from gas extraction companies.

Raiffeisen Bank Aval [BAVL UZ, U/R], ranked second in Ukraine by assets, has redeemed a USD 250 mln of an overall USD 500 mln syndicated loan. The loan was attracted in April 2007 for a period of two years at LIBOR +1.2%. The participants in this loan consisted of 42 banks.

According to the bank’s statement, Ukrsibbank, which is ranked fourth in Ukraine by assets, decided to raise its statutory fund by UAH 1.275 bln to UAH 5.280 bln, through an additional share issue of 25.5 bln shares with a par value of 0.05 each. The subscription is scheduled for April 9-27, 2009.

According to a recent note from the State Statistics Committee of Ukraine, the merchandise balance deficit in 2008 has slipped to USD 18.53 bln, which is 63.7% higher than the USD 11.32 bln 2007 merchandise deficit.

An EGM of Ukrnafta [UNAF UZ, BUY], which was scheduled for today, did not take place because of the absence of the shareholders’ registry.

The Zaporizhya-based Motor Sich [MSICH UZ, BUY] company – the largest producer of aviation jets and gas-turbine units in the CIS – has announced its intention to supply of helicopter engines to Indian forces by the end of 2014.