Daily monitor

The Kernel Group [KER PW, N/R], a bulk oil and grain trader, released its 4Q 2007/2008 consolidated financial results: net revenues soared 89% YoY to USD 663.1 mln, EBITDA surged by 172% to USD 126.0 mln, and net income increased by 4.3 times to USD 80.8 mln.

Kryukiv Railcar [KVBZ UZ, BUY] has won a tender for the supply of 5 thsd hatch covers for gondola railcars to the "Belzheldorsnab" company in Belarus.

At the shareholders’ meeting of AZOVMASH, based on a unanimous vote, the decision was taken to reorganize the company from an OJSC (Open Joint-Stock Company) to a CJSC (Closed Joint-Stock Company).

Zaporizhtransformator [ZATR UZ, N/R], has passed an audit for its correspondence with international standards ISO 9001:2000. In particular, the reporting on the environmental facets and safety aspects of the enterprise was highlighted.

The Cabinet of Ministers decided to cancel the existing calculation approach for the electricity grid connection fee, which is to be paid to local electricity distribution companies (oblenergos) by all new consumers, such as newly-constructed residential and commercial buildings, as well as industrial plants.

Vladimir Boyko, the CEO of Mariupol Illich Iron & Steel Works [MMKI UZ, BUY], warned that his company may cease operation within two to three days due to lack of orders. At a meeting in the Cabinet of Ministers of Ukraine, Boyko said that there was only two production days left of orders. According to some reports, he said that after two days the plant may halt its production.

The State Railway Monopoly of Ukraine, Ukrzaliznytsya (UZ), has updated its rolling stock of USD 565 mln in 2008. The money was spent for purchases of 176 passenger railcars, 699 freight railcars, 20 electric locomotives bought through a leasing contract, 3 thermo locomotives, 8 trains, 4 rail buses, among other acquisitions.

Yesterday, on August 27, 2008, Kovelmoloko [KMOL UZ, BUY] held a successful AGM. KMOL’s shareholders positively voted on the main agenda of the AGM – a 15.2 times increase of the Statutory Fund.

According to an official press release, Slavutych [SLAV UZ, BUY] is going to increase its Statutory Fund by 14.8% to USD 202 mln through an additional share issue.

Dnipropetrovsk Iron & Steel Works named after Petrovsky [DMZP UZ, BUY], or Petrovka, has completed a USD 25 mln, 50-day upgrade of its Blast Furnace No. 2. According to UGMK.info, as the next step in blast furnace shop advancements, Petrovka plans to upgrade BF No. 5 in 2010.