KYIV. March 22 (Interfax-Ukraine) – The Ukrainian government has approved a customs clearance procedure for imported goods used in production of defense goods under a state defense order. The goods are exempted from taxation to meet required Customs and Tax codes.
According to the procedure outlined in cabinet resolution No. 170 of March 16, a list of documents required to register imports of these goods is set up to confirm their compliance with concrete criteria.
According to the document, the State Fiscal Service is to submit information on imported goods every quarter to the Economic Development and Trade Ministry. The information is to include the names of economic entities, public procurement authorities and the sum of taxes that were not paid, while executors of the state defense order are to submit monthly reports on the targeted use of the imported goods.
KYIV. March 21 (Interfax-Ukraine) – Public joint-stock company Cherkasy Silk Factory, one of the largest textile enterprises in Ukraine, tentatively saw UAH 35.95 million in net profit in 2015, while its net loss in 2014 was UAH 50,000.
Its uncovered loss decreased by almost 83% in a year, to UAH 7.4 million.
The factory saw a 55% rise in current liabilities, to UAH 91.3 million. The company did not have long-term liabilities.
Total bills receivable tripled, to UAH 36.16 million, while asset value grew by 6.8%, to UAH 191.34 million.
Equity capital exceeded UAH 100 million as of early 2016 (UAH 64 million as of early 2015).
The plant began fabrics production in 1967 and today manufactures lining, raincoat fabric, fabrics for professional clothing, decorative jacquard, furniture, shirting fabric.
Its major markets were Ukraine, Moldova, and Russia.
KYIV. March 21 (Interfax-Ukraine) – Private joint-stock company Indar (Kyiv), an insulin producer, has obtained GMP (Good Manufacturing Practice) certificate for its production facilities in Brazil.
The certificate was issued by the Brazilian Health Surveillance Agency (ANVISA).
A GMP is a system for ensuring that pharmaceutical products are consistently produced and controlled according to quality standards.
Indar supplies recombinant insulin in the form of finished pharmaceutical products (FPPs).
Indar was created under a resolution of the Cabinet of Ministers in 1997 under the aegis of Kyiv meat processing plant. In 2012, the state fully reinstated its control over the enterprise which it lost in 2008 when the state stake of 70.7% belonging to Ukrmedprom was sold to Storke Holdings Limited (Belize).
Indar in 2016 joined the Association Manufactures of Medications of Ukraine (AMMU).
KYIV. March 21 (Interfax-Ukraine) – India’s Dr.Reddy’s integrated international pharmaceutical company is still optimistic about the Ukrainian pharmaceutical market. The company continues developing its Ukrainian business, Dr.Reddy’s Executive Vice President M.V. Ramana has said.
“Ukraine is a key market that Dr.Reddy’s is focusing on,” he told Interfax-Ukraine.
Commenting on the company’s operation in Ukraine in 2015, Ramana said that the economic turmoil has had a direct impact on the company’s business. General slow on the Ukrainian pharmaceutical market and a decline in buying power have made a serious gap in the company’s efficiency.
He said that hryvnia devaluation had the worst aftermath for the business.
“Nevertheless, despite the worsening of the situation with national currency devaluation, Dr.Reddy’s is among few global companies operating in Ukraine that tried to ensure the affordability of its products. This is the key goal of our company,” he said.
Ramana said that Dr.Reddy’s was one of few companies that continued their operation in eastern Ukraine, in Donetsk and Luhansk regions, at the beginning of the conflict in May-June 2014. Dr.Reddy’s team in the region continued providing for the needs of patients and healthcare centers.
“After the worsening of the conflict in the region in 2015… Dr.Reddy’s helped most of its employees move to other regions of Ukraine,” he said.
Being optimistic about the Ukrainian pharmaceutical market, Dr.Reddy’s will continue investing funds in innovation and affordable medicines and will focus its attention to business growth, he said.
Ramana said that the potential of the Ukrainian market is still large, and the current crisis is a temporary regress that could last from 18 to 24 months.
Dr.Reddy’s developed several brands of prescription, Over-the-Counter (OTC) and anti-cancer drugs. They are leaders in their market segments.
Ramana said that Dr.Reddy’s now is ninth among top 10 leading foreign companies operating in Ukraine.
He said that Dr.Reddy’s will continue enlarging its presence in Ukraine, bringing innovation products of great demand to the Ukrainian market.
KYIV. March 21 (Interfax-Ukraine) – Ukraine’s top 100 largest state-run companies saw revenue of UAH 187 billion in 2015, a 45.1% rise compared to a year ago, First Deputy Economic Development and Trade Minister Yulia Kovaliv said at a government meeting on Friday.
“Earnings before interest, tax, depreciation and amortization (EBITDA) of the top 100 largest state-run companies was UAH 36 billion, with a profit of UAH 2.2 billion,” she said.
EBITDA increased by UAH 59.31 billion and profit by UAH 68.7 billion from 2014.
Kovaliv said total asset value reached UAH 927 million, up 44.9% year-over-year.
She said that representatives of top 17 largest companies were present at the meeting. Odesa Port-Side Plant, Ukrinterenergo, Ukrgazvydobuvannia and Skhidny Mining showed the largest growth in sales last year, while Centrenergo’s revenue declined and Ukrnafta and Ukrposhta stayed at 2014 levels.
Energoatom, Ukrainian Sea Port Authority and Ukrenergo posted the best profit figures. Additionally, Naftogaz Ukrainy decreased its loss from UAH 89 billion in 2014 to UAH 25 billion in 2015, Kovaliv said.
“Ukrnafta showed the worst figure [from the point of loss],” she said.
She said that all state-run enterprises in 2015 saw UAH 2.6 billion in profit after taking a UAH 7.4 billion in loss in 2014.
The state owns near 3,500 enterprises, including 1,723 operating ones. A total of 72 enterprises are located in the Anti-Terrorist Operation (ATO) zone and 1,683 are being liquidated.
National legislation bans the privatization of over 1,700 enterprises. However, the ministry has drawn up a bill to halve that number to 765.
KYIV. March 21 (Interfax-Ukraine) – Some 17 state companies have increased efficiency and revenues by 40%, Ukraine’s Prime Minister Arseniy Yatseniuk has said.
“Over the past year the proceeds of these state companies increased by almost 40%, while profits overall totaled $2.6 billion. If compared to the last year’s loss – UAH 7.4 billion – we have improved the financial result by UAH 10 billion,” Yatseniuk stated.
He made these comments on air of “10 Minutes with the Prime Minister” program on Sunday night.
Yatseniuk said Energomarket has improved its financial results by UAH 1.6 billion, and the Ukrainian Sea Port Authority – by UAH 2.3 billion.
Odesa Port-Side Plant has become a profitable venture for the first time in 10 years, posting a UAH 500 million profit. Naftogaz Ukraine has improved financial results by UAH 65 billion, even though the company in the past had always posted losses.
“The government’s position is that we need to completely change management and the system of control at state companies,” the premier said.
Centrenergo, Ukrspyrt and Ukrnafta, meanwhile, posted poor financial results.
