AXA Insurance (Kyiv) in 2018 increased its assets by 8%, to UAH 1.933 billion, according to the materials to the agenda of a general meeting of its shareholders scheduled for April 11.
The retained earnings at the end of the year totaled UAH 108.4 million, which is 15.5% less than a year ago. Net profit of the insurer came to UAH 69.9 million, while in 2017 the company saw UAH 127.6 million in net loss.
Net worth of AXA Insurance in 2018 slightly grew compared with the previous year, to UAH 489.075 million. Cash and cash equivalents grew by 28.5%, to UAH 677.111 million.
Noncurrent liabilities rose by 11%, to UAH 1.357 billion, and current liabilities – by 10.9%, to UAH 86.272 million.
Total receivables remained almost at the level of 2017, being UAH 326.607 million.
The charter capital did not change, being UAH 261.975 million.
AXA Insurance has been operating on the Ukrainian market since 2007. In 2018, the company collected UAH 1.9 billion in insurance premiums, which is 13% more than in 2017.
Fairfax Financial Holdings Limited Group LTD (FFHL Group LTD, Canada) in 2018 acquired 99.98% of the charter capital of AXA Insurance (Kyiv).
JPMorgan Chase & Co. directly lent around $350 million to the government of Ukraine on March 12, 2019, two weeks before the first round of the presidential election in the cash-strapped country, WSJ has reported, referring to people familiar with the deal.
WSJ said that the bank, declared the only organizer of the additional issue of 10-year loan participation notes (LPNs) of Ukraine, bought them itself, which is not a common practice.
The deal could deliver millions of dollars in gains for JPMorgan, which bought the bonds at a discount.
WSJ said that in the past weeks Ukrainian government officials met with the bond management funds in Miami and New York to unofficially discuss the issue of new LPNs, although investors called to postpone the sale of new LPNs after the election.
In this situation, JPMorgan offered Ukraine to add $350 million in eurobonds maturing in 2028 and sell them privately to the bank, people familiar with the deal told the publication. According to their data, the bank bought bonds at around 98.88 cents on the dollar and has started selling them to bond funds at around 100.50 cents on the dollar. If JPMorgan sells all the bonds at that price, it would make a profit of some $5.7 million on the deal, WSJ said.
According to WSJ, Wall Street firms from time to time made such transactions through the so-called proprietary trading desks before the 2008 financial crisis, but rarely did this later, since the new rules require them to be significantly redundant in such transactions.
Exports of goods from Ukraine in January 2019 from January 2018 grew by 9.2%, to $4.066 billion, while imports increased by a mere 0.7%, to $4.045 billion, the State Statistics Service has reported. According to its data, as a result, the surplus of foreign trade in goods in January of this year amounted to $20.9 million against the deficit of $294.1 million in January 2018.
The State Statistics Service said that in January 2019 compared to December 2018 the seasonally adjusted export volume rose by 6.9%, to $4.373 billion, while imports by 3.8%, to $4.839 billion.
The seasonally adjusted foreign trade balance in January 2019 was negative and amounted to $465.9 million, which is better than in December 2018 ($571.5 million).
The service said that foreign trade operations were conducted with partners from 193 countries of the world.
PJSC Kharkiv Biscuit Factory in 2018 saw a 44.5% fall in net profit, reaching UAH 86.8 million.
According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market on holding a general meeting of its shareholders scheduled for April 19, the retained earnings in a year came to UAH 1.147 billion (a rise of 8% year-over-year) and assets totaled UAH 1.365 billion (a rise of 5%).
Noncurrent liabilities accounted for UAH 6.2 million (a rise of 19%), current liabilities – UAH 103 million (a fall of 20%) and total receivables – UAH 509.3 million (a rise of 8%).
According to the draft decision of the shareholders, it is planned to send the rest of net profit after making mandatory payments in the amount of UAH 85.1 million to production development.
Kharkiv Biscuit Factory produces flour confectionery. Its annual capacity is around 40,000 tonnes of products.
The enterprise is part of Biscuit-Chocolate Corporation founded in 2004. It also incorporates public joint-stock company Kharkivchanka confectionery factory, Prestige Trade House LLC, public joint-stock company Pervukhinsky sugar refinery, Krasnohradsky Mlyn LLC and public joint-stock company Skovoroda Agrofirm.
