Daily monitor

Rodovid Bank [RODB, U/R] plans to increase its statutory capital by 57%, or UAH 250 mln, to UAH 685 mln through an additional issue of shares, according to a report issued by the bank. According to this report, the increase in the bank's statutory capital will be put on the agenda of a general meeting of its shareholders, which is scheduled for January 30, 2009.The bank plans to issue additional shares with a face value of UAH 1,000.

According to preliminary data, it appears that Zaporizhtransformator [ZATR UZ, N/R] – the world's largest manufacturer of transformer equipment – will achieve a 2008 sales level of about USD 700 mln, which is 70% higher than the 2007 level of USD 412 mln.

Commerzbank AG is planning to buy an additional 15% share in Forum Bank[FORM UZ, U/R] within the next three years, according to Wilhelm Nuese, the Deputy Chairman of the Supervisory Council of Forum Bank. “There is an option to buy an additional 15% in the Ukrainian bank within three years. This way we are planning to concentrate a 75% plus one share in the Ukrainian bank. We have many plans to develop our business here,” he stated.

Ukraine’s giant telecommunications company Ukrtelecom [UTEL UZ, U/R] – the country’s fixed-line incumbent – has affirmed its plans to implement a 53.8% increase in its subscriber base for 3G communication services in the UMTS standard, offered under the brand ‘Utel’, by the end of 2008. Such an boost would bring the number of clients for this service up to 200 thsd.

The Zaporizhya-based Motor Sich [MSICH UZ, BUY] company – the largest producer of aviation jets and gas-turbine units in the CIS – has publicly stated that its order portfolio for 2009 has grown considerably and that signed agreements will allow the company to retain a positive pace of sales growth in 2009.

Astarta [AST PW, BUY], is planning to launch bioethanol production at its Yaresivskiy sugar plant. According to Mr. Ivanchyk, the CEO of the Astarta holding, work has been started and its planned output capacities can reach 200 cubic meters per day. Currently, the estimated total value of the project is not finalized and will be defined in the process.

The gross external debt grew 42.0% or USD 31.2 bln between October 2007 and October 2009 and reached USD 105.4 bln.

The CA deficit in Ukraine shrunk in 3Q08 to USD 1.6 bln; a 47.5% decrease compared to the CA deficit in 2Q08 of USD 3.0 bln. The trade balance deficit has contracted to USD 2.1 bln, compared to USD 3.6 bln in 2Q08. The financial account surplus was not altered substantially, staying around USD 2.3 bln. Foreign direct investment fell to USD 3.4 bln, compared to USD 3.8 bln last quarter.

The State Statistics Committee of Ukraine revealed that, in November, revenues of enterprises providing communications services fell by 5.2% in hryvnia terms compared with October, from roughly UAH 3,910 mln to UAH 3,705 mln.

Astarta [AST PW, BUY] has reached an agreement on selling its carbonic credits to the International Fund of Carbonic Credits that was founded by the European Bank of Reconstruction and Development in cooperation with the European Investment Bank.