Daily monitor

Sumy Frunze (SMASH, N/R), one of largest European producers of equipment for the oil and gas and the chemical industries, has signed a EUR 18.9 mln contract with the Russian Surgutneftegaz to supply three turbocompressor units for the reconstruction of an oil compressing station by September 2009.

More details have emerged about the July 30 EGM of Zaporizhstal [ZPST UZ, Strong BUY] at which the company declared 100% dividends.

The Ministry of Finance of Ukraine announced that the consolidated debt, which includes state debt and state-guaranteed debts. increased 0.3% MoM and 0.8% YTD in June 08, reaching USD 17.78 bln.

The Ministry of Finance of Ukraine announced that the state budget in 1H08 closed with a UAH 1.88 bln (USD 388 mln) surplus, an equivalent of 0.44% GDP.

The Parliament of Ukraine met for an emergency meeting on Thursday to vote for budget amendments addressing the consequences of the natural disaster in Western Ukraine.

Electricity distribution company, Prykarpattiaoblenergo [PREN], announced that amount needed to compensate the damage of electricity lines caused by heavy rainfall and flooding in the western part of Ukraine is estimated at USD 5 mln.

At the July 20 EGM, shareholders of Zaporizhstal [ZPST UZ, Strong BUY] declared 100% dividends for 2007 (DPS USD 0.043, dividend yield 8.4%, USD 114 mln total dividends).

On Tuesday, July 29 the National Bank of Ukraine (NBU) made an Interbank intervention and bought Great Britain pounds (GBP) at the 9.4376 UAH/GBP rate, almost UAH 0.2 lower than the official NBU 9.6234 UAH/GBP rate.

The President of Ukraine, Mr. Viktor Yuschenko, proposed amendments to the state budget to address the current natural disaster in Western Ukraine.

Automobile plant “Bogdan” [LUAZ, U/R] reported 1H08 net income increase of 6 times YoY amounting to USD 29.7 mln.