Daily monitor

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.

Land West [4K1A GR, U/R], a Ukrainian agricultural holding with 80 thsd ha of land bank in operation, is going to attract financing of USD 20 mln during second private placement. The deal’s details have not yet been disclosed.

According to the First Deputy Director General of Ukrzaliznytsia (UZ), Mykola Lukhanin, the state railroad administration intends to spend UAH 4.9 bln (USD 636 mln at an exchange rate of UAH 7.7 per USD) on the development of its infrastructure in 2009.

The Ukrros [UROS UZ, U/R], one of the top three sugar producers in Ukraine, is planning to increase its land cultivated with sugar beets by 38.5% YoY to 18 thsd ha in the 2009/10 marketing year.

The European Bank of Reconstruction and Development (EBRD) has provided a five-year loan of USD 20 mln to Astarta [AST PW, BUY]. Astarta is going to use the EBRD loan to increase the energy efficiency of its sugar plants, as well as for refinancing its short term bank obligations.

The Mriya Holding [MAYA GR, U/R] has announced plans to expand its cultivated land for spring crops by 64.1% YoY to 98.6 thsd ha.