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Business news from the Ukrainian League of Industrialists and Entrepreneurs

KYIVKHLIB POSTS UAH 19.5 MLN NET PROFIT IN 2016

KYIV. March 27 (Interfax-Ukraine) – Kyivkhlib, the largest producer of bread and bakery goods in Kyiv, in 2016 received UAH 19.48 million of net profit against a net loss of UAH 30.24 million in 2015.
According to the company’s announcement of an annual shareholders’ meeting scheduled for April 28, its assets last year amounted to UAH 640.9 million against UAH 712.55 million for the previous year.
Total debtor indebtedness over the year increased by 1.6 times, to UAH 339.4 million.
Undistributed profit by the end of the year was UAH 77.3 million.
PJSC Kyivkhlib was established in 1996 through the reorganization of state enterprise Kyivkhlibprom. It is the largest producer of bread and bakery goods in Kyiv. The company includes nine production sites in the capital and Kyiv region.

DTEK TO START INVESTING IN SOLAR POWER PLANTS STARTING FROM 10 MW PLANT IN KHERSON REGION – DTEK CEO

KYIV. March 27 (Interfax-Ukraine) – DTEK intends to invest in construction of solar power plants, DTEK CEO Maksym Timchenko has said in an interview with Interfax-Ukraine.
He said that the pilot project will be construction of a 10 MW solar power plant in Kherson region.
“The project is small, for 10 MW, but we want to try. I think that we would expand this pilot project if there were financing. This is our investment in the future, new generation,” he said.
Timchenko said that DTEK also intends to expand its portfolio of wind generation.
“Today, despite the current situation, we are in the active phase of talks with General Electric on building a new 200 MW plant – Prymorska wind farm… If we were able to form a pool of banks which would not be afraid of investing in Ukraine and come to an arrangement with GE, the development of wind generation would accelerate,” he said.
He said that the company is mulling construction of up to 1 GW of green generation facilities in coming five years.
As reported, in 2011, DTEK started building Botiyeve wind farm in Zaporizhia region and in October 2012 the first phase was launched. At present, the installed capacity of the farm is 200 MW. The share of DTEK of the Ukrainian renewable energy market in 2015 was 13%.

SECURITIES COMMISSION TO IMPROVE MECHANISM FOR ALLOWING SECURITIES OF FOREIGN ISSUERS TO ENTER UKRAINIAN MARKET

KYIV. March 27 (Interfax-Ukraine) – The National Commission for Securities and the Stock Market of Ukraine intends to improve the mechanism for allowing securities of foreign issuers to enter the Ukrainian stock market, the regulator has said in a press release.
Draft amendments to the resolution on the access of securities of foreign issuers to the Ukrainian stock market were approved by commission members on March 23, 2017.
According to the draft amendments, securities of foreign issuers which registered the issue of the securities or the offering memorandum at one of the foreign stock exchanges approved by the national commission can enter the Ukrainian stock market; or if the issue of the securities has the International Securities Identification Number (ISIN) and the National Depository of Ukraine (NDU) permitted to register the securities on the NDU correspondent account opened in a foreign depository institution.
The decision to permit the securities to enter the market is made by the commission under an application from the foreign issuer or NDU representing the interests of the owner of the securities.
According to the document, the applicants are to submit the application, the written confirmation from NDU that the securities can be registered on the correspondent account and the documents confirming the powers of a representative of the issuer.
The commission also approved the amendments to the list of foreign stock exchanges approved by the commission. The new list includes the network of stock exchanges, including NASDAQ OMX Group, New York Stock Exchange (NYSE), stock exchanges of EU member countries, London Stock Exchange and Hong Kong Exchanges and Clearing.

FERREX GUAM NEEDS TO IMPLEMENT PROGRAM OF COOPERATION WITH JAPAN, PREPARE SUCH PROGRAM WITH U.S. – GROYSMAN

KYIV. March 27 (Interfax-Ukraine) – Prime Minister of Ukraine Volodymyr Groysman believes that GUAM (Georgia-Ukraine-Azerbaijan-Moldova) needs to implement a program of cooperation with Japan and prepare a program of cooperation with the U.S.
“It is important to prepare the continuation of the GUAM-U.S. cooperation framework program, and I fully support the development of contacts with the Visegrad Four (Poland, Slovakia, Hungary, the Czech Republic),” he said during a meeting with the heads of governments of GUAM member countries in Kyiv on Monday.
According to the prime minister of Ukraine, GUAM also needs to work on the implementation of the framework program for cooperation with Japan, which was signed in 2015.
In addition, Groysman considers GUAM cooperation with the Baltic and Eastern European countries promising.