Daily monitor

According to information, published in the agenda for Zaporizhstal’s EGM, that will take place on September 2, its shareholders will vote on 20% increase in statutory fund of the Company. If successful, there would be issued additional 528.736 mln shares (par value UAH 0.25) and statutory fund would be increased by UAH 132.184 mln to UAH 793.104 mln. The Company plans to use raised money in order to increase its capitalization.

Forum bank’s [FORM UZ] net loss during the first half of 2010 was USD 187 mln, compared to USD 35.8 mln in Q2 2009.

As of July 16, Ukrainian farmers had harvested 8.1 mln tons of grain from an area of 3.35 mln ha. Thus, the average grain yield was 2.4 tons/ha, compared to 2.6 tons/ha in 2009. In detail, the average barley yield was 2.3 tons/ha (2.7 tons/ha in 2009), wheat – 2.7 tons/ha (2.8 tons/ha). Additionally, 0.84 tons of rapeseed were harvested from an area of 0.53 mln ha, with an average yield of 1.6 tons/ha (1.8 tons/ha).

“Ukraine would like to thank investors for [their] high level of interest in its roadshow and productive investor meetings. The Ministry of Finance has decided not to proceed with a new transaction at this time, given other immediate sources of financing and its liquidity position. Ukraine will consider international capital market financing on ongoing basis based on its needs and market environment,” reads a Ukrainian Ministry of Finance press release.

Zaporizhtransformator [ZATR UZ, BUY], one the world's largest manufacturers of transformer equipment, intends to deliver seven transformers for HPP-1 Ekibastuzskaya, Ltd., Kazakhstan. The total capacity of seven transformers is 1688 MVA.

In June 2010, industrial production in Ukraine decreased by 0.5% mom and 8.9% YoY.

Myronivsky Hliboproduct (MHP) [MHPC LI, HOLD], a major poultry producer in the Ukraine, has announced its 2Q2010 operational results. Poultry production grew slightly, at +3% QoQ, to 85.5 thsd tons (+30% YoY), and the capacity utilization for the segment was almost at 100%. The average chicken meat price remained flat YoY, at UAH 13.8 per kg. Sunflower oil production was almost flat QoQ and constituted 47.5 thsd tons, while the export price achieved was USD 809 per ton, or in line with the market price.

Sintal Agriculture [SNPS GR, BUY], a major Ukrainian crop producer, plans to increase irrigated areas by 50% YoY in 2010. Currently, the total land bank of the holding is 98.7 thsd ha, while the irrigated area located in Kherson region is 20 thsd ha. Sintal intends to increase its total land bank by 20% to 120 thsd ha in 2010, and is going to increase the irrigated area by 10 thsd ha annually.

According to information published by Metall Courier, Mariupol Illich ISW [MMKI UK] will increase pig iron output by 14% MoM to reach 393 thsd tonnes. However, in fact, the output may be lower by 8 to10 thsd tonnes, due to repair work on the factory.

According to Interfax, in 1H09, Ukraine increased iron ore exports by 38.6% to 16.4 million tonnes.