State-owned Ukreximbank (Kyiv) has issued UAH 1 billion in loans under the Affordable Loans 5-7-9% program since the start of the program, the bank’s press service said on Wednesday.
“Almost every second loan under the program is aimed at capital investments in expanding the existing business, as well as supporting promising start-ups,” the press service said, citing Head of department of medium business and municipalities Semen Puskai.
It is indicated that half of the total amount of funds under the program are anti-crisis loans at 0% to ensure financing of the working capital of enterprises.
The bank added that refinancing of previously received loans at a reduced interest rate is actively used to reduce the debt burden on business.
The British oil and gas company Enwell Energy plc (formerly Regal Petroleum) with assets in Ukraine in 2020 increased average daily hydrocarbon production by 6.5% compared to 2019, to 4,541 barrels of oil equivalent per day (boepd), the press service of Smart Energy said.
According to the company’s announced production and financial audited results for 2020, its net profit decreased by 3.8 times (by $ 9 million) compared to 2019, to $ 3.2 million, income – by 15.4% (by $ 8.6 million), to $ 47.3 million.
“During the reporting period, the company demonstrated strong financial performance despite the fact that the growth in gas production was offset by a significant decline in gas prices during the year,” the press release says.
The company also notes that despite gas prices, cash flow from operating activities in 2020 remained approximately at the same level as in the previous year – $ 23.8 million against $ 24.7 million.
Pozniaky-Zhyl-Bud (Kyiv) in 2020 saw a net loss of UAH 21.304 million, which is 20% lower than the result of 2019 (UAH 17.631 million loss), follows from the agenda of a shareholders’ meeting scheduled for April 29, 2021, promulgated in the information disclosure system of the National Securities and Stock Market Commission of Ukraine.
The uncovered loss of the company over the year reached UAH 17.044 million against UAH 4.260 million of retained earnings for the previous year.
Current liabilities increased by 3.4 times, to UAH 855.882 million, while long-term liabilities decreased to UAH 443.352 million from UAH 664.757 million.
In addition, it is reported that by December 31, 2020, the company’s assets increased by 44%, to UAH 1.368 billion, while cash and its equivalent almost halved, to UAH 3.626 million. The total debtor indebtedness increased by 1.5 times, to UAH 331.8 million.
The net worth of Pozniaky-Zhyl-Bud in 2020 was negative, minus UAH 16.869 million.
Deputy Head of the President’s Office of Ukraine Ihor Zhovkva announced the forthcoming reconstruction of key checkpoints on the Ukrainian-Polish state border due to the inclusion of the border infrastructure between Ukraine and Poland in the Big Construction program.
“Key checkpoints on the Ukrainian-Polish state border are included in the Big Construction national program, which means that they will be reconstructed, and access roads will finished so that our presidents can soon jointly examine the results of this work,” Zhovkva said, following the results of the Consulting Committee of the Presidents of Ukraine and Poland meeting via videoconference with Secretary of State of the President’s Office of Poland Krzysztof Szczerski on Monday, March 29.
A separate item on the meeting’s agenda was the discussion of trade and economic cooperation between Ukraine and Poland. The sides said that “coronavirus pandemic had practically no effect on the volume of trade between the two states.”
When discussing energy issues, the interlocutors noted the exceptional importance of ensuring energy security in Europe and coordinated joint steps to oppose the completion of the Nord Stream 2 project.
The sides also discussed the implementation of joint initiatives in the energy sector, in particular, on the supply of liquefied gas from Qatar to Ukraine through the Polish infrastructure.
In the context of the discussion of Ukraine’s relations with the EU and NATO, the Secretary of State of the President’s Office of Poland assured of Poland’s consistent support for Ukraine’s European and Euro-Atlantic prospects. He positively noted the results of the reforms that our state is introducing in order to achieve the relevant criteria for membership.
The accident of the container ship Ever Given in the Suez Canal, which ran aground and blocked the movement of ships, did not affect the rhythm of the shipment of Ukrainian exports, Stark Shipping has said on Monday.
“Loaded bulk carriers from China do not go to Ukraine, and empty ships do not come from those directions that require passage through the Suez Canal,” the press release said, citing company’s Director for Business Development Andriy Sokolov.
According to him, imports by bulk carriers to Ukraine (in particular bauxite), which are washed and then loaded, also do not pass through the Suez Canal.
According to the company, eight vessels with the cargo of Ukrainian companies such as Nibulon, Cargill, Metinvest, ArcelorMittal got stuck in the Suez Canal. Among the cargo: corn, wheat, iron ore and metal products. Most of them go to China. In general, more than 680,000 tonnes of Ukrainian exports got blocked.
As reported, Egyptian President Abdel Fattah el-Sisi on Monday, March 29, announced that the operation to unblock the Suez Canal has been successfully completed.
Stark Shipping is one of the largest shipping agents in Ukraine and provides services in all Ukrainian ports, serves more than 700 ship calls per year, working with international companies operating in the Black Sea ports.
Recent changes in the financial market of Ukraine are favorable for the emergence of investor interest in new instruments, and the investment company Concorde Capital plans to bring about a dozen companies to an initial public offering (IPO) in two years, the founder and CEO of Concorde Capital, Ihor Mazepa, has said.
“I perceive this as a personal challenge and my personal ambition and ambition of my colleagues at Concorde: … I give myself, roughly speaking, two years to bring a good ten companies to an IPO,” Mazepa said at the presentation of the UAH 50-100 million IPO of the Veres Rivne People’s Club in Kyiv.
The CEO of the investment company believes that in recent years there has been a good trend in the market, which was previously observed in the neighboring markets of Eastern Europe and Russia. “When deposit rates fall, the investor has a feeling of discomfort. What I have seen for the last six or nine months: there has been such a huge trend that a class, a huge group of investors has begun to form in the country. Our fellow citizens really brought money to the stock market,” Mazepa said.
According to him, now this money goes to American and European exchanges.
“I want to walk this path, create or return this culture of investment to our country,” the CEO of Concorde Capital said.
He also said the company is developing a phone application for investors that will allow them to buy/sell securities online. According to him, the development cost is up to $1 million, and it can be launched before the end of this year or early next year.
