ABH Holdings SA. (ABHH, Luxembourg) will seek protection under a bilateral Belgium-Luxembourg-Ukraine investment protection agreement if Ukraine nationalizes the Sense Bank (Sense Bank, formerly Alfa Bank, Kiev) it owns, which implies filing suit in an international court if the country refuses voluntary compensation for lost investments.
“If Sense Bank JSC is nationalized, the losses for ABHH will be significant, so ABHH will take appropriate measures in terms of both national and international law and available treaties to compensate them,” the holding company said in a statement Saturday.
ABHH points out that Law No. 9107-1 on the procedure for withdrawal from the market (nationalization) of banks owned by subsanctioned persons has already been signed by the president of Ukraine, so the holding company is seriously concerned that the National Bank of Ukraine will carry out its intention to nationalize Sens Bank without compensating ABHH beyond the nominal amount.
“The new law is aimed at the withdrawal of banks owned by sanctioned individuals. However, the nationalization of Sense Bank JSC will result in losses for non-sanctioned persons, including bondholders and non-sanctioned shareholders of ABHH,” the statement said.
According to the holding’s capital structure, these are The Mark Foundation for Cancer Research and Italian Unicredit s.p.a., which own 3.8736% and 9.9%, respectively.
The main shareholders of ABHH are Mikhail Fridman – 32.8632%, Petr Aven – 12.4018% and Andrei Kosogov – 40.9614%, on whose shares the National Bank last April appointed Simeon Dyankov, the former Minister of Finance of Bulgaria, as a trustee.
Earlier this week, ABHH said it had reached an agreement to sell Sense Bank’s 75.6% stake to an international investor for $1. ABHH recalled that in the autumn of 2022, the National Bank of Ukraine had sent a shareholder letter stating its willingness to transfer the bank into state ownership free of charge and voluntarily in case of such a decision by the regulators, but since no response to this letter was received, ABHH continued to look for an experienced and reliable investor.
According to the agency, the investor is one of Poland’s richest men, Zygmunt Solozh, co-owner of Grupa Polsat Plus. The Economic Pravda newspaper reported this week that documents were submitted to the National Bank by the Cypriot Karswell Ltd, the nominal owner of 43.75% of the shares of the Polish bank Plus Bank SA.
As of the beginning of May this year, Sense Bank, with assets of 97.19 billion hryvnias, was the 10th bank among 65 operating in Ukraine. The authorized capital of the bank amounted to 28.726 billion UAH, and equity capital – 7.49 billion UAH.
At the end of May this year, the Verkhovna Rada passed a law that envisages the nationalization of Sense Bank as a systemic bank on the basis of the presence of sub-sanctioned persons among its major shareholders.
The NBU, in its communications to date, has not allowed the possibility of agreeing a deal to sell the bank.
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Uzhhorod’s cottage communities are a great option for those who want to live in a private house with recreation areas and infrastructure in a quiet location.
According to the suburban real estate portal zagorodna.com, there are 25 cottage communities in the Zakarpattia region, of which 14 cottage communities are located in Uzhhorod.
From June 2022 to June 2023, 2 new projects appeared in Uzhhorod.
In the cottage communities of Uzhhorod there are:
1 cottage community with duplexes (under construction),
13 townhouses (9 completed, 4 under construction).
Currently in Uzhhorod:
10 townships are built,
4 townships are under construction.
Sales in 5 cottage communities in Uzhhorod are completed.
Uzhhorod cottage communities: advantages and disadvantages
Cottage communities are becoming increasingly popular in Ukraine, and Uzhhorod is no exception. This is a fairly new form of residential construction that appeared in the early 2000s, and consists of cottages or townhouses in the same style with common infrastructure and security being built on the outskirts of the city.
Advantages of cottage communities
One of the main advantages of cottage communities is security and privacy. Each cottage has its own yard and parking lot, as well as a landscaped area for recreation. In addition, the territory is guarded, which reduces the risk of theft and other crimes. Another important advantage is the possibility of customizing the layout of the cottage. Each owner can change the layout and design of their own apartment, which allows them to create a unique interior that meets their own needs and preferences. In addition, cottage communities have common infrastructure, such as playgrounds, sports grounds and other entertainment, which create a comfortable and safe environment for living.
One of the advantages of cottage communities is the opportunity to live in a cozy and spacious house with its own territory.
Most cottage communities are located on plots of 0.1 to 0.2 hectares and consist of 4-15 houses.
The area of households ranges from 100 to 210 square meters.
The area of the adjoining plots ranges from 1 to 3 hectares.
Cottage communities usually have their own infrastructure, such as playgrounds, sports grounds, green spaces and other amenities.
Disadvantages of cottage communities
One of the disadvantages of cottage communities is their remoteness from the city center and lack of public transportation. This can be a problem for those who work in the city center or have children who attend schools or kindergartens in the city center. Another disadvantage is the highest cost of housing. Buying a cottage in the city can be a very expensive hobby, especially if you take into account the costs of repairing and arranging your own land. In addition, cottage communities may not be as convenient as they seem at first glance. For example, the lack of public transportation can be a problem for those who do not have a car. Also, coexistence with neighbors can be a problem, especially if they have different views on how the city’s infrastructure should function.
Prices in cottage communities in Uzhhorod.
Prices in cottage communities in Uzhhorod
The prices of townhouses in Uzhhorod are quite different, depending on the location, size, and quality of construction.
Cottages in cottage communities are usually more expensive because they have infrastructure and security.
The cost of real estate in cottage communities in Uzhhorod depends on the location, area, type of real estate, and readiness.
As of June 1, according to our portal, the average price in Uzhhorod cottage communities is UAH 35107 per square meter.
The minimum price per 1 sq.m. is UAH 24,252 in townhouses under construction on Zelena Street.
The maximum price per 1 sq.m. is UAH 50 574 in Sherwood townhouses located on Zaporizka street.
Over the year, the demand for cottage communities in Uzhhorod increased due to the hostilities, and the price increased by 33.78%.
The growth or decline in demand depends on the remoteness, readiness, and type of real estate.
According to the analysts of our portal, prices for townhouses in Uzhhorod have increased over the past year as people are looking for a quiet place near the border.
Despite the high cost and remoteness from the city center, townhouses in Uzhhorod provide security and privacy, the possibility of personal planning and general infrastructure for comfortable living. Before purchasing a townhouse in a cottage community, you should carefully weigh all the advantages and disadvantages to make the right choice.
The most complete and up-to-date database of Uzhhorod cottage communities is available on zagorodna.com.
Author: Viktor Kovalenko,
Director of the consulting company “RealExpo”
The Union of Dairy Enterprises of Ukraine (UDMU) and the Polish Polish Dairy Chamber (Polska Izba Mleka) call on their governments to actively address the dairy sector of both countries, which arose due to political turmoil in spring 2023, while respecting the principles of free trade.
“We want to express our concern about what is happening to the dairy sector right now. We, as an industry, want to ensure that our firms and our farms are continually operating for our consumers. We don’t want small groups that are not connected to the dairy sector to complicate our relations,” Agnieszka Maliszewska, director of the Polish Dairy Chamber (Polska Izba Mleka), said Friday at the first Ukrainian-Polish Dairy Dialogue, which was held at Interfax-Ukraine.
The executive director of UMSU Arsen Didur reminded that since June 2022 the European Union had abolished all customs duties and quotas for Ukrainian products for a year, which was of mutual benefit to the economies of Poland and Ukraine, and the dairy sector in particular, so this regime has been extended for another year.
The executive director of the SMPU expressed regret that since April 2023 in relations between Ukraine and Poland “some incomprehensible actions began to occur. “These events have not benefited our brotherly relations and trade relations as well,” he stated.
Didur said that representatives of the Polish and Ukrainian dairy sectors do not intend to remain indifferent to what is happening and have developed a single coordinated position, insisting that any unlawful interference in business does not benefit either party.
“Although Poland has a stronger position in the mutual trade of dairy products, the LSU is categorically against the interference of the two governments and the creation of problems in free trade. We do not accept both the ban on deliveries of Ukrainian dairy products to Poland and the creation of any additional veterinary control from the Ukrainian side. All actions of the governments should be based on the principles of democracy, free trade and the rule of law”, – emphasized the executive director of UMSU.
Industry associations of Poland and Ukraine have invited leading experts from both countries for a dialogue to unveil the results of the two countries’ trade in dairy products during 2022-2023 and to show the groundlessness of any restrictions on trade between the two countries.
An analyst at the International Food & Agri Hub BNP Paribas Poland Pawel Wierzykowski said that before a full-scale invasion of Ukraine by Russia in 2021, Ukraine was the third largest market for Polish dairy products with a share of 5% after Germany (19%) and the Czech Republic (7%). In particular, 10.5% of all exports of Polish cheese and cottage cheese, 5.3% of yogurt and 3.4% of butter were sent to Ukraine.
According to the Polish expert, in 2022 the share of exports of dairy products from Poland to Ukraine has decreased to 3.3%, but the Ukrainian market still remains a very important export vector for Polish dairy products outside the European market.
In monetary terms, export of dairy products from Poland to Ukraine in 2022 decreased by 13% compared with the prewar year 2021 – down to EUR 108 million. In 2022 Poland reduced the supply of whey to Ukraine by 32%, cheese – by 31%, milk and sour cream – by 28%, while at the same time increased the supply of yogurt by 3%.
At the same time for 4 months of 2023 a positive tendency was observed and the export of Polish dairy products to Ukraine increased, – said Wierzykowski.
He noted that Poland is the largest European supplier of dairy products to Ukraine with 50% presence. In particular, in the structure of European supplies the share of Polish products in Ukraine reaches 79% for milk and sour cream, 79% for yogurt, 72% for cheese, 51% for curd, 44% for whey powder and 15% for butter.
The expert does not consider the decrease of the trade balance by three times in 2022, to EUR43 million compared to EUR121 million in 2021, as this figure was EUR42 million in 2020 and the minimum level of EUR6 million was recorded in 2015.
According to his information, similar fluctuations were observed when Poland joined the EU, when specialists from Germany and Poland could not predict the consequences of opening markets, but markets reacted adequately and the situation leveled off within a few years.
The expert of the Institute of Agrarian Economics Leonid Tulush thanked representatives of Polish dairy products for the fact that they gave Ukraine the opportunity to sell surplus dairy products, which were formed in Ukraine due to the outflow of main consumers, in particular to Poland.
“Since the beginning of 2023, in five months the situation in the Ukrainian-Polish trade balance of dairy products has radically changed. In the first quarter, imports of Polish dairy products to Ukraine 5 times exceeded the corresponding figure for exports of Ukrainian dairy products to Poland. For 5 months since the beginning of the year the ratio has increased up to 7.4 times,” he said.
Tulush reminded that in April 2023 Ukrainian dairy products were not delivered to Poland at all. In May the products were delivered in 2 times less than in March of this year. At the same time, Polish products come to Ukraine steadily and supplies exceed EUR9.5 million per month in money terms.
“If we talk about the balance in terms of individual types of dairy products, the positive balance for Ukraine is observed only for milk powder and butter. For all other items the volume of Polish imports significantly exceeds the volume of Ukrainian exports, “- said the Ukrainian expert.
Speaking about the significance of the Polish import for the Ukrainian dairy sector, Tulush pointed out that while the share of Polish imports of dairy products to Ukraine exceeds 45%, the export of dairy products from Ukraine to the Polish market is only 8%.
Comparing the structure of export-import, he stressed that Ukraine supplies to Poland mostly dried milk, butter and whey powder. At the same time, the share of milk powder is 75%. Speaking about the structure of import of Polish dairy products to Ukraine, here, according to him, prevail cheeses of various kinds with the share of 75% and 10% account for dairy products and whey.
“This shows that the volume of mutual trade between the countries is not comparable. Ukrainian dairy products are not a threat to the Polish dairy market,” stated the Ukrainian expert.
Alexander Samokhvalov, director of Lustdorf, one of the largest dairy producers in Ukraine, pointed to the reduction in the domestic dairy market in Ukraine due to the departure of main consumers – women and children from the country and noted the importance of exports to save the work of dairy companies. According to him, there is a constructive cooperation between the producers of dairy products in Ukraine and Poland.
In particular, Lustdorf was only able to make it through 2022 by increasing exports of milk powder to the EU. Due to the loss of opportunities to export products by sea, the company is forced to transport products through the EU, particularly Poland. Recently, however, it has been idle at the border for two to three weeks or more, Samokhvalov said.
Director of the Polish Dairy Chamber (Polska Izba Mleka) Agnieszka Maliszewska stressed that both sides are recording the same problems on both sides of the border, in particular with logistics. She urged the veterinary and customs services to solve them as soon as possible.
“The best solution to problems is mutual dialogue, not protests. Especially protests by those groups that do not represent the interests of our sector, but adjust to them. It is important for us that those groups that create problems for us do not tell the Polish or Ukrainian government how to act,” she stressed.
At the end of the first Ukrainian-Polish Dairy Dialogue, both associations will send the governments of Poland and Ukraine a joint statement with proposals for resolving the situation.
JSC “Ukrzaliznytsia” (UZ) in the period from 1 to 15 June recorded an increase in rail freight traffic by 45.7% compared to the same period of 2022, the press service of UZ reported on Friday.
“Freight rail shipments between June 1 and June 15, 2023, according to operational data, increased by 45.7% compared to the same period in June 2022 and by 12% compared to the same period in May this year. The average daily load for the period increased by 26.2% compared to June 2022 – up to 390.4 thousand tons, “- said in a report UZ.
According to the company, the volume of domestic shipments in the first half of June rose by 47% compared with the same period last year and by 8.3% compared with the first half of May – up to 3.715 million tons. Export traffic rose by 50.8% and 19.5%, respectively – to 2.191 million tons.
UZ specified that according to the cargo types minerals, coal, grain and milling products, manganese and iron ore traditionally lead in terms of transportation volumes.
Transportation of grain cargo from June 1-15 has increased by 71.2% against the same period of 2022 and by 24% against the first half of May – up to 1.106 million tons. At the same time, export shipments of grain increased by 2.3 and 54.3% respectively up to 849.9 thousand tons. Coal carriages increased by 29.2% and 7.2%, respectively – to 1.136 million tons, iron and manganese ore – by 12.8% and 2% – to 1 million tons. The volume of transportation of Minstroymaterials doubled in comparison with the same period of 2022 and increased by 24% compared to May.
According to Yevgeniy Lyashchenko, head of the board of UZ, these figures give reason to predict that the company can approach breakeven in 2023.
“We have cautious optimism and good indicators of the main work of Ukrzaliznytsia – freight transportation. Thanks to the painstaking work of the Ministry of Reconstruction, business, our specialists, the unblocking of the “grain corridor”, the revival of traffic in the direction of the western borders, we record the growth of freight traffic in the first half of June almost by half. These figures allow us to come close to break-even in 2023″, – he was quoted by the press service of UZ.
Earlier it was reported that in May UZ increased the volume of cargo transportation by 19.2%.
In January-May 2023, Kohavynska Paper Factory (KPF, Lviv region), which produces hygienic paper products (TM “Kohavinka”), increased production volume by 32.4% compared to the same period in 2022 – up to UAH 466.35 million, according to statistics from “UkrPapir”.
According to statistical data provided by Association to Interfax-Ukraine, in physical terms the production of paper-base for sanitary products at the factory has increased by 4% to 17.42 thousand tons.
Including May, its output increased slightly to almost 3.6 thousand tons, compared to May 2022.
The output of toilet paper rolls over the five months increased by 3.3% up to 55.67 mln pieces, and the KBC remains the second largest producer after the Kiev KBC (99.3 mln pieces).
The Kokhavinsk Paper Mill, which has been in operation since 1939, produces base paper for sanitary and hygienic goods as well as toilet paper and paper towels.
The capacity of the paper machines is 19 thousand tons per year, the processing equipment is 90 million rolls per year.
The factory has hardly stopped production since the beginning of Russia’s full-scale aggression in Ukraine.
As reported, last year KBF produced 975.3 mln hryvnia – 44.8% more than a year earlier. Net profit decreased by 12.7% to UAH 52.4 mln, income increased by 46.5% to UAH 978.9 mln.
In January-May 2023, the volume of marketable products of Kyiv Cardboard and Paper Mill (Kyiv Pulp and Paper Mill, Obukhiv, Kyiv region), Ukraine’s industry leader in this indicator, amounted to UAH 3 billion 063 million, which is 16.2% more than in the same period of 2022.
According to statistics provided by UkrPapir Association to Interfax-Ukraine, the mill thus slowed down the growth rate of this indicator slightly compared to the same period last year (in January-March, the growth exceeded 27%, in January-April – 21.7%).
In physical terms, the plant increased production of corrugated boxes by 36.6% to 88.33 million square meters. Cardboard output increased by 20.6% to 69.6 thousand tons, driven by a 36.4% increase in containerboard output to 57.5 thousand tons, while boxboard output decreased by 22% to 12.1 thousand tons.
At the same time, the output of base paper for sanitary and hygiene products maintained a negative trend: in January-May it decreased by 29.6% to 17.55 thousand tons, while the production of toilet paper in rolls fell by 30% to 99.3 million units.
Despite the decline in toilet paper production, the plant maintains a strong leadership in its production in Ukraine. In total, over five months, the industry’s major companies produced 238.27 million rolls (down 8%).
As reported earlier, the plant noted that the market for sanitary products in Ukraine had shrunk by 18-35%, taking into account the overall state of the economy, population decline (in particular, due to those who left the country and the loss of consumers in the occupied territories).
According to the industry association’s data from the main industry enterprises, in January-May 2023, there was a 12% increase in paper and cardboard production (218.61 thousand tons) and a 21.4% increase in cardboard boxes (197.26 million square meters).
Kyiv Pulp and Paper Mill is one of Europe’s largest cardboard and paper production companies with a staff of more than 2,500 people.
As reported, in 2022, the mill produced UAH 7 billion 432 million worth of products, which is 3.5% less than in 2021.
Pulp Mill Holding (Austria) owns 100% of the shares of PJSC KKBK.
According to the mill’s announcement in the NSSMC’s information disclosure system, the shareholder’s decision on June 12 elected a new supervisory board – it was again headed by Timur Sokolov, and three more shareholder representatives were re-elected for a new term – Heinz Zinner, director of Pulp Mill Holding, Osman Ismet Mustekaplioglu, president of the board of the Turkish REİS Pazarlama Ve Ticaret, and Stefan Prodol, managing director of the German Jacob Jürgensen und Zellstoff.
Oleh Dubrovka was removed from the SB and replaced by Ivo Valchev, Sales Director of Austrian Andritz AG for Tissue and Board, who became Deputy Chairman of the SB.
In addition, Klaus Gissing, Director of the Austrian Tissue Innovation & Application Center, was appointed to the new Supervisory Board as an independent member.
