With a global rout in equities the previous night and the Russian market collapsing
on its open, officials in Ukraine decided not to open the PFTS exchange for trading on
Wednesday. Opening indications in the trading systems for more liquid names
showed the PFTS was set for a much lower open, in some cases more than 10%.
In London trading, however, Ukrainian names took a massive leg lower. Ferrexpo
(LSE: FXPO) was down 17%, Dragon-Ukrainian Properties (LSE: DUPD) was off 10%
and XXI Century (LSE: XXIC) fell an incredible 46%. In FX markets a brief
intervention by the National Bank stopped the recent slide of the hryvnia, which
ended near the previous day's close.
While Moscow's MICEX had announced a close until Friday, it opened this morning
with significant gains. We expect Kyiv to open as normal at 11am.
середа, 31 грудня 2008 р.
Nadra Bank receives UAH 1.5bn in refinancing from NBU
Nadra Bank, Ukraine's 7th-largest bank with UAH 23.7bn ($4.8bn) of assets as of
end-1H08, has received a UAH 1.5bn ($307m) one-year refinancing facility from the
NBU at an interest rate of 12% p.a., a local business daily reported today.
(Kommersant)
Nadra will reportedly use the money to repay a $130m syndicated loan due in
November after failing to refinance it. Separately, Nadra has announced it started to
redeem its $100m Eurobond maturing on Nov. 7. NBU Council head Petro
Poroshenko said earlier this week the central bank was ready to facilitate
redemptions of external debt by local banks, adding there were one or two banks
that might face temporary difficulties refinancing their external liabilities. The NBU's
refinancing should be sufficient for Nadra to maintain solvency and the bank is
unlikely to require additional refinancing. However, in view of Nadra's temporary
liquidity problems, we put our recommendation on the stock under review.
end-1H08, has received a UAH 1.5bn ($307m) one-year refinancing facility from the
NBU at an interest rate of 12% p.a., a local business daily reported today.
(Kommersant)
Nadra will reportedly use the money to repay a $130m syndicated loan due in
November after failing to refinance it. Separately, Nadra has announced it started to
redeem its $100m Eurobond maturing on Nov. 7. NBU Council head Petro
Poroshenko said earlier this week the central bank was ready to facilitate
redemptions of external debt by local banks, adding there were one or two banks
that might face temporary difficulties refinancing their external liabilities. The NBU's
refinancing should be sufficient for Nadra to maintain solvency and the bank is
unlikely to require additional refinancing. However, in view of Nadra's temporary
liquidity problems, we put our recommendation on the stock under review.
Vinnifruit introduces new juice line
In October Ukrainian juice producer Vinnifruit (PFTS: VINIP) began production of a
new juice brand called "Premium Juices of Ukraine," according to Ukrainian News.
Eight flavours will be packaged in 1 litre "Tetra Prism" packs, and five in twist-off 1 L
bottles.
In 2007 the Vinnytsia Oblast-based beverage maker reported UAH 0.45mn (US$
0.082mn) in net profits and a 28.67% y/y output growth rate, or UAH 32.02mn (US$
5.86mn) compared with 2006, to UAH 143.7mn (US$ 26.3).
In addition to the new beverage brand, Vinnifruit also produces juices under the
"Vinni," "Juices of Ukraine," "Eko," and "Vinnifruit" brands, sweet carbonated drinks,
mineral water, and other beverages.
new juice brand called "Premium Juices of Ukraine," according to Ukrainian News.
Eight flavours will be packaged in 1 litre "Tetra Prism" packs, and five in twist-off 1 L
bottles.
In 2007 the Vinnytsia Oblast-based beverage maker reported UAH 0.45mn (US$
0.082mn) in net profits and a 28.67% y/y output growth rate, or UAH 32.02mn (US$
5.86mn) compared with 2006, to UAH 143.7mn (US$ 26.3).
In addition to the new beverage brand, Vinnifruit also produces juices under the
"Vinni," "Juices of Ukraine," "Eko," and "Vinnifruit" brands, sweet carbonated drinks,
mineral water, and other beverages.
Kryukiv Wagon's output grows 16.5%
Kryukiv Wagon (KVBZ: BUY) increased output by 16.5% yoy to USD 459.2 mln in 9M08, Interfax said yesterday, citing a company representative. Kryukiv Wagon's
passenger car production rose 4x yoy to 84 units, and freight car output by 0.6% to
5,651 ths units.
Inna Perepelytsya: We believe that the company's will meet our full-year production
forecast of 130 passenger cars and 7,650 ths freight cars.
passenger car production rose 4x yoy to 84 units, and freight car output by 0.6% to
5,651 ths units.
Inna Perepelytsya: We believe that the company's will meet our full-year production
forecast of 130 passenger cars and 7,650 ths freight cars.
UKRAINE BIZ TOP STORY
1. Uncertainty mounts in Ukraine, as Yushchenko calls all change
2. Domestic daily steel output down 32% since July
3. Naftogaz Ukrainy asks bondholders to waive on 2007 results
4. National Bank promises to sell dollars to cover import needs
UBL NEWS
5. Market analysis
6. NBU installs acting chief at Prominvestbank.
7. Nadra Bank receives UAH 1.5bn in refinancing from NBU
8. Shell looks to expand Ukrainian operations
UBL OTHER NEWS
9. Astarta extends $25mn loan a further 12 months
10. Bank Forum sets higher growth targets
11. Bogdan and Skoda Transportation establish JV in Ukraine.
12. Buyback of Interpipe NTRP's free float scheduled for late November
13. Creativ Group to launch vegetable oil plant in January 2009
14. Kolomoyskiy acquires 6.9% stake in Ferrexpo.
15. Nyzhnyodniprovsk Pipe to buy back 6.25% of shares.
16. Regal Petroleum to invest up to US$ 1.5bn
17. Stakhaniv Carriage securing Russian market
18. Ukraine could stop importing electricity from Russia
19. Ukraine election positive for CETV
20. Vinnifruit introduces new juice line
UBL SECTOR SNAPSHOTS
21. Iron ore output up 4% y-o-y in 9M08
22. Stirol increases gross revenues by 48% y_o_y in 9m08
23. Weak domestic hydrocarbon extraction figures for 9m08
UBL CO. RESULTS, UPGRADES ETC
24. Kryukiv Wagon's output grows 16.5% yoy in 9M08.
2. Domestic daily steel output down 32% since July
3. Naftogaz Ukrainy asks bondholders to waive on 2007 results
4. National Bank promises to sell dollars to cover import needs
UBL NEWS
5. Market analysis
6. NBU installs acting chief at Prominvestbank.
7. Nadra Bank receives UAH 1.5bn in refinancing from NBU
8. Shell looks to expand Ukrainian operations
UBL OTHER NEWS
9. Astarta extends $25mn loan a further 12 months
10. Bank Forum sets higher growth targets
11. Bogdan and Skoda Transportation establish JV in Ukraine.
12. Buyback of Interpipe NTRP's free float scheduled for late November
13. Creativ Group to launch vegetable oil plant in January 2009
14. Kolomoyskiy acquires 6.9% stake in Ferrexpo.
15. Nyzhnyodniprovsk Pipe to buy back 6.25% of shares.
16. Regal Petroleum to invest up to US$ 1.5bn
17. Stakhaniv Carriage securing Russian market
18. Ukraine could stop importing electricity from Russia
19. Ukraine election positive for CETV
20. Vinnifruit introduces new juice line
UBL SECTOR SNAPSHOTS
21. Iron ore output up 4% y-o-y in 9M08
22. Stirol increases gross revenues by 48% y_o_y in 9m08
23. Weak domestic hydrocarbon extraction figures for 9m08
UBL CO. RESULTS, UPGRADES ETC
24. Kryukiv Wagon's output grows 16.5% yoy in 9M08.
Newspaper as old as company itself
Alongside with other achievements already
mentioned, Motor Sich Company is one of the few enterprises, which let out their own newspaper for a pretty long time! The factory newspaper now titled.
Motor Sich has been playing an important role through the 100-year history of Motor
Sich JSC. It has been published since the mid 1920s when it used to be a wall newspaper, but soon after it became a factory newspaper titled Shatun (conrod) that gained wide popularity.Then, the newspaper was printed in the Communard
printing-house once a week. In 1929, it was titled Za oboronu (for defence) and was published six times a week on four broadsides. In the time of World War II, the newspaper kept on functioning and fulfilling its task. The editorial staff as the whole factory was evacuated to the city of Omsk that is behind the Urals. There was no enough room for editorial staff and printing machinery at the new place: a 20-sqare-meter room was earmarked for the newspaper purposes in the overhaul shop just near the testbed, and type cases and the Americana printing-press were accommodated in it. At first, newspapers were printed in the regional printing-house, and then a factory own printing-house started working. In the 1960s, the Mashinostroitel newspaper was issued on Tuesdays, Wednesdays, Thursdays, Fridays,
and Saturdays. The editorial mail is an index of the newspaper popularity: our readers determine their favorite subjects and headings that have related news items. The newspaper responds rapidly to social and political events of this country: going behind the things. People appreciate the prompt and comprehensive coverage of exciting issues of shareholding, taxation, crediting, medical insurance, the pensions provision reform, rent, public utilities, etc.The newspaper has been a link between the company management and employees team by speaking frankly about company’s problems, achievements, and prospects. It followed strictly these principles even in the most problematic years of Ukraine’s history. The editors dedicate a lot of ma-terials to the company’s Deputies Corps
activity: addressing political issues of Ukraine’s development to clarify them, and reporting people’s deputies’ real deeds. It is clear that manufacturing process predominant on the newspaper
pages. Most of the articles deal with multi-sided life of the Motor Sich team.
The headings as follows have won the recognition of readers: Company’s 100 Jubilee; Company’s Congratulations; In Focus; Recognizing Leaders; Youth Life; Hobbies World; Recommendations
for Parents; Creation; Life Stories; Practical Tips; Orchard and Vegetable Garden; Questions and Answers; Interesting
Facts, and others.Motor Sich JSC is famous for its sport achievements. So it is unusual to see the newspaper issued
without sport news. The Motor Sich newspaper has its supplement titled Mo-
torchik (small motor) that is an excellent training ground that provides immense opportunities for young journalists. Young Motorchik reporters have beaten their opponents
in numerous journalistic contests, and some of them have become career journalists. Students of Journalistic department
of Zaporozhye National University do their practical training on the newspaper
basis. Now, the newspaper is 78. Currently,
it is published on eight broadsides twice a week, with its circulation being almost 4000 copies. Keeping traditions of their predecessors, the contributors to a newspaper do their best to keep it among the best editions in the city of Zaporozhye.
mentioned, Motor Sich Company is one of the few enterprises, which let out their own newspaper for a pretty long time! The factory newspaper now titled.
Motor Sich has been playing an important role through the 100-year history of Motor
Sich JSC. It has been published since the mid 1920s when it used to be a wall newspaper, but soon after it became a factory newspaper titled Shatun (conrod) that gained wide popularity.Then, the newspaper was printed in the Communard
printing-house once a week. In 1929, it was titled Za oboronu (for defence) and was published six times a week on four broadsides. In the time of World War II, the newspaper kept on functioning and fulfilling its task. The editorial staff as the whole factory was evacuated to the city of Omsk that is behind the Urals. There was no enough room for editorial staff and printing machinery at the new place: a 20-sqare-meter room was earmarked for the newspaper purposes in the overhaul shop just near the testbed, and type cases and the Americana printing-press were accommodated in it. At first, newspapers were printed in the regional printing-house, and then a factory own printing-house started working. In the 1960s, the Mashinostroitel newspaper was issued on Tuesdays, Wednesdays, Thursdays, Fridays,
and Saturdays. The editorial mail is an index of the newspaper popularity: our readers determine their favorite subjects and headings that have related news items. The newspaper responds rapidly to social and political events of this country: going behind the things. People appreciate the prompt and comprehensive coverage of exciting issues of shareholding, taxation, crediting, medical insurance, the pensions provision reform, rent, public utilities, etc.The newspaper has been a link between the company management and employees team by speaking frankly about company’s problems, achievements, and prospects. It followed strictly these principles even in the most problematic years of Ukraine’s history. The editors dedicate a lot of ma-terials to the company’s Deputies Corps
activity: addressing political issues of Ukraine’s development to clarify them, and reporting people’s deputies’ real deeds. It is clear that manufacturing process predominant on the newspaper
pages. Most of the articles deal with multi-sided life of the Motor Sich team.
The headings as follows have won the recognition of readers: Company’s 100 Jubilee; Company’s Congratulations; In Focus; Recognizing Leaders; Youth Life; Hobbies World; Recommendations
for Parents; Creation; Life Stories; Practical Tips; Orchard and Vegetable Garden; Questions and Answers; Interesting
Facts, and others.Motor Sich JSC is famous for its sport achievements. So it is unusual to see the newspaper issued
without sport news. The Motor Sich newspaper has its supplement titled Mo-
torchik (small motor) that is an excellent training ground that provides immense opportunities for young journalists. Young Motorchik reporters have beaten their opponents
in numerous journalistic contests, and some of them have become career journalists. Students of Journalistic department
of Zaporozhye National University do their practical training on the newspaper
basis. Now, the newspaper is 78. Currently,
it is published on eight broadsides twice a week, with its circulation being almost 4000 copies. Keeping traditions of their predecessors, the contributors to a newspaper do their best to keep it among the best editions in the city of Zaporozhye.
Motor Sich Airline
Founded in 1984, the air carrier is one of the subdivisions incorporated in Motor Sich JSC. The airline is furnished with passenger and transport airplanes and helicopters.
The basic task for this plant was to provide
large quantities of parts and metal products for assembly of aircraft engines and to produce technological tooling. At the Volochisk Machine-Building Plant
necessary certificates and licences,
which give permission for transportation
of passengers and cargo.
The basic task for this plant was to provide
large quantities of parts and metal products for assembly of aircraft engines and to produce technological tooling. At the Volochisk Machine-Building Plant
necessary certificates and licences,
which give permission for transportation
of passengers and cargo.
Volochisk Machine-Building Plant
In 1971 in the town of Volochisk in Khmelnitsky region the Volochisk Machine-
Building Plant was established.
the shop was organized for manufacture
of PAES-2500 power generating sets, overhaul of AI-20 engines and its modifications ŔI-20DKE, ŔI-20DKN, ŔI-20DME, AI-20 DMN. Apart from this, the Volochisk Machine-Building Plant produces spare parts for carsand a number of agricultural articles.
Building Plant was established.
the shop was organized for manufacture
of PAES-2500 power generating sets, overhaul of AI-20 engines and its modifications ŔI-20DKE, ŔI-20DKN, ŔI-20DME, AI-20 DMN. Apart from this, the Volochisk Machine-Building Plant produces spare parts for carsand a number of agricultural articles.
Snezhnoye Machine-Building Plant
In 1970 in the town of Snezhnoye in Donetsk region the first subsidiary was established, which in 1974 was converted to the Snezhnoye Machine-Building Plant. The Snezhnoye Machine-Building other shops were constructed on the right bank of the Dnieper river (the town of Zaporozhye) due to mastering the manufacture of big D-18 engines. On the basis of these facilities the Zaporozhye Plant became the first in the industry specialized plant engaged in production of blades for gas turbine engines. The plant manufactures the parts for aircraft engines (compressor disks, compressor and turbine blades), parts and units for mining equipment, consumer goods.
Zaporozhye Omelchenko Machine-Building Plant
The new testing station, the up-to-date foundry for precision casting of parts and heat-resistant alloys and a number of Omelchenko Machine-Building Plant was established in 1988. The main direction of the factory’s activity is casting (manufacturing blades by oriented crystallization casting) and testing the D-18 engines. The plant manufactures 1000 kW and 6000 kW gas-turbine power generating sets.
http://financejournal.info
http://financejournal.info
MOTOR SICH
Zaporozhe Open Joint-Stock company MOTOR SICH is one of the largest enterprises realizing a full cycle of creation of modern aviation engines from development, manufacture and test, before support in operation and repair.
For the time being the factory lets out and masters a batch production of aviation engines of various capacity and purpose, used by world-famous aviaconstructing
companies. Alongside with aircraft engines MOTOR SICH JSC offer
in the world and domestic markets industrial gas turbine installations, the consumer goods and building materials.
Quality and reliability of production let out by the enterprise gained trust and renown in more than 120 countries all over the world. Today Zaporozhye-based company offers production which is let out on certificated industrial base. Manufacture
of modern aircraft engines, and also repair of whole production let out are certificated by the Aviation Register MAK and State Aviaadministration of Ukraine. The enterprise is recognized by the Aviation Register MAK as the Developer
of aviation engines. The system of quality of Open Society MOTOR SICH is certificated by international firm BUREAU VERITAS CERTIFICATION
in accordance to the international
ISO 9001:2000 requirements.
History of Ukrainian avia-engines
History of the Company dates back to 1907. Till December 1915, the Company
manufactured agricultural machinery
and implements, performed different
kinds of machining, produced iron and copper castings. In December,1915, Duflon, Konstantinovich & Co (Deka) JSC bought the production facilities and changed the profile of production activities. In November, 1916, the first six-cylinder
water cooled engine Deka M-100 was assembled. Since then the Company mastered production and for a long time manufactured a wide gamut of piston engines:
M-6, M-11, M-22, M-85, M-86, M-87, M-88, Ash-87FN, Ash-62IR, which were not inferior and in a number of cases superior to similar foreign engines at that time. In the year 1953 the factory started manufacture of jet engines RD-45, RD-500, which initiated beginning of entry into the gas turbine engine era. The new generation of engines was represented by AI-20 (1957) and AI-24 (1962) turboprops designed by A.G. Ivchenko. Different modifications of these engines are in service
till the present time. In the year 1967 the factory started mastering production of by-pass turbojet engines, and one after another started production of the AI-25, AI-25TL, D-36, D-18T and D436T1/TP engines. Gas turbine turboshaft engines of the TV3-117, VK-1500, BK-2500 families
along with the D-136 engine bring to the sky the helicopters of Mil (Mi) and Kamov (Ka) design. In the year 1995 the factory was transformed into Motor
Sich Joint Stock Company (Public).
In 1997 the company began producing the AI-336-1/-2-10 family gas-turbine drives developed by Progress ZMKB. The GTD is used as a drive for compressors of the gas-pumping units with rated power of 10MW. The ecological indices of the drive are below international standards. The TV3-117VMA-SBM1 is a promising high-economy low-noise engine developed by the Motor Sich JSC and Progress ZMKB. The engine propeller shaft takeoff power is 2500 hp (2800 hp at emergency power).
The SFC at maximum cruise power is 0.188 kg/eq.hpˇh. The engine is intended to power the An-140 airplane and is an option
for short-haul Il-114, Tu-130, MiG-110 airplanes. The engine production has been certified by the Aviation Registers of IAC and SDATU. At present the An-140 passenger airplane powered by the TV3-117VMA-SBM1 engines performs regular operations within Ukraine. This
is a new page opened in the history of Ukrainian aviation. The AI9-3B turbo-gas engine has been developed in 1997 by Progress ZMKB. It is used as APU for the An-140 plane and is an option for other planes and helicopters manufactured
by the CIS countries. Its purpose is to generate compressed air for starting
propulsionturboprops, drive electrical generator, generate compressed air for the aircraft conditioning system. He engine rated shaft power is 16 kW, consumption
of engine-bled air is 0.47 kg/s. The engine and its production have been certified
by the Aviation Registers of IAC and SDATU. The VK-2500 engine has been built by the GUP Klimov Plant and MOTOR SICH JSC.
The VK-2500 turboshaft engine was designed in 1999 to power the Mi-24, Mi-28, Ka-32, Ka-50, Ka-52 combat helicopters. The SFC is 0.210 kg/hpˇh. With respect to fuel efficiency and weight characteristics this engine ranks among the world-best. This engine will provide enhanced capabilities for helicopters operated in mountainous areas with hot climate, increased speed and better maneuverability. The engine has been certified by the Aviation Register of IAC. At the present time the Company is busily engaged in preparation for series production
of aircraft engines D-27, AI-22, AI-222, VK-1500, AI-450, D-36, Series 4A, D-436-148, AI-25 TLSh for powering airplanes An-70, Tu-324, Yak-48, Yak-130, L-159, An-3, An-38, Be-132MK, An-74TK-300, An 148, helicopter Ka-226 and for retrofitting aircraft Yak-42, An-2, Mi-2 and L-39 being in operation. In 2007 MOTOR SICH received Typa Certificates of International Aviation Comitee and National
Aviaadministration of Ukraine:
- Certificate for An-148 plane
- Type certificate for D-436-148 engine
- Type certificate for Additional Force Instalation AI-450MC
Some important details…
The Zaporozhye Motor Sich Public Joint Stock Company is among the largest
in the world and the only enterprise in Ukraine manufacturing engines for airplanes and helicopters as well as industrial
gas turbine installations. MOTOR
SICH JSC incorporates the following structural units located in Ukraine:
Zaporozhye Engine-Building Plant
The history of the main plant starts from the moment of organization of Deka factory
in 1916 in the town of Alexandrovsk (Zaporozhye since 1921). The main structural unit manufactures aircraft engines,
overhauls and maintains them, produces drives for gas/oil pumping units, mobile automated power generating
sets and a number of consumer goods.
- Type certificate for ТW3-117WМА-SBM1W engine
For the time being the factory lets out and masters a batch production of aviation engines of various capacity and purpose, used by world-famous aviaconstructing
companies. Alongside with aircraft engines MOTOR SICH JSC offer
in the world and domestic markets industrial gas turbine installations, the consumer goods and building materials.
Quality and reliability of production let out by the enterprise gained trust and renown in more than 120 countries all over the world. Today Zaporozhye-based company offers production which is let out on certificated industrial base. Manufacture
of modern aircraft engines, and also repair of whole production let out are certificated by the Aviation Register MAK and State Aviaadministration of Ukraine. The enterprise is recognized by the Aviation Register MAK as the Developer
of aviation engines. The system of quality of Open Society MOTOR SICH is certificated by international firm BUREAU VERITAS CERTIFICATION
in accordance to the international
ISO 9001:2000 requirements.
History of Ukrainian avia-engines
History of the Company dates back to 1907. Till December 1915, the Company
manufactured agricultural machinery
and implements, performed different
kinds of machining, produced iron and copper castings. In December,1915, Duflon, Konstantinovich & Co (Deka) JSC bought the production facilities and changed the profile of production activities. In November, 1916, the first six-cylinder
water cooled engine Deka M-100 was assembled. Since then the Company mastered production and for a long time manufactured a wide gamut of piston engines:
M-6, M-11, M-22, M-85, M-86, M-87, M-88, Ash-87FN, Ash-62IR, which were not inferior and in a number of cases superior to similar foreign engines at that time. In the year 1953 the factory started manufacture of jet engines RD-45, RD-500, which initiated beginning of entry into the gas turbine engine era. The new generation of engines was represented by AI-20 (1957) and AI-24 (1962) turboprops designed by A.G. Ivchenko. Different modifications of these engines are in service
till the present time. In the year 1967 the factory started mastering production of by-pass turbojet engines, and one after another started production of the AI-25, AI-25TL, D-36, D-18T and D436T1/TP engines. Gas turbine turboshaft engines of the TV3-117, VK-1500, BK-2500 families
along with the D-136 engine bring to the sky the helicopters of Mil (Mi) and Kamov (Ka) design. In the year 1995 the factory was transformed into Motor
Sich Joint Stock Company (Public).
In 1997 the company began producing the AI-336-1/-2-10 family gas-turbine drives developed by Progress ZMKB. The GTD is used as a drive for compressors of the gas-pumping units with rated power of 10MW. The ecological indices of the drive are below international standards. The TV3-117VMA-SBM1 is a promising high-economy low-noise engine developed by the Motor Sich JSC and Progress ZMKB. The engine propeller shaft takeoff power is 2500 hp (2800 hp at emergency power).
The SFC at maximum cruise power is 0.188 kg/eq.hpˇh. The engine is intended to power the An-140 airplane and is an option
for short-haul Il-114, Tu-130, MiG-110 airplanes. The engine production has been certified by the Aviation Registers of IAC and SDATU. At present the An-140 passenger airplane powered by the TV3-117VMA-SBM1 engines performs regular operations within Ukraine. This
is a new page opened in the history of Ukrainian aviation. The AI9-3B turbo-gas engine has been developed in 1997 by Progress ZMKB. It is used as APU for the An-140 plane and is an option for other planes and helicopters manufactured
by the CIS countries. Its purpose is to generate compressed air for starting
propulsionturboprops, drive electrical generator, generate compressed air for the aircraft conditioning system. He engine rated shaft power is 16 kW, consumption
of engine-bled air is 0.47 kg/s. The engine and its production have been certified
by the Aviation Registers of IAC and SDATU. The VK-2500 engine has been built by the GUP Klimov Plant and MOTOR SICH JSC.
The VK-2500 turboshaft engine was designed in 1999 to power the Mi-24, Mi-28, Ka-32, Ka-50, Ka-52 combat helicopters. The SFC is 0.210 kg/hpˇh. With respect to fuel efficiency and weight characteristics this engine ranks among the world-best. This engine will provide enhanced capabilities for helicopters operated in mountainous areas with hot climate, increased speed and better maneuverability. The engine has been certified by the Aviation Register of IAC. At the present time the Company is busily engaged in preparation for series production
of aircraft engines D-27, AI-22, AI-222, VK-1500, AI-450, D-36, Series 4A, D-436-148, AI-25 TLSh for powering airplanes An-70, Tu-324, Yak-48, Yak-130, L-159, An-3, An-38, Be-132MK, An-74TK-300, An 148, helicopter Ka-226 and for retrofitting aircraft Yak-42, An-2, Mi-2 and L-39 being in operation. In 2007 MOTOR SICH received Typa Certificates of International Aviation Comitee and National
Aviaadministration of Ukraine:
- Certificate for An-148 plane
- Type certificate for D-436-148 engine
- Type certificate for Additional Force Instalation AI-450MC
Some important details…
The Zaporozhye Motor Sich Public Joint Stock Company is among the largest
in the world and the only enterprise in Ukraine manufacturing engines for airplanes and helicopters as well as industrial
gas turbine installations. MOTOR
SICH JSC incorporates the following structural units located in Ukraine:
Zaporozhye Engine-Building Plant
The history of the main plant starts from the moment of organization of Deka factory
in 1916 in the town of Alexandrovsk (Zaporozhye since 1921). The main structural unit manufactures aircraft engines,
overhauls and maintains them, produces drives for gas/oil pumping units, mobile automated power generating
sets and a number of consumer goods.
- Type certificate for ТW3-117WМА-SBM1W engine
неділя, 7 грудня 2008 р.
"Âeles Capital" - "Ókrnafta"
YK "Âeles Capital" appropriated recommendation to buy to actions of "Ókrnafty" (ticker of ÏÔÒÑ: UNAF) with a having a special purpose price 282,74 UAH ($58,3). In spite of tendency to the decline on actions of company, from point of technical analysis the short-term investments in these papers are pretty attractive.
"Ókrnafta" is the largest company with long-term experience on the booty of oil and gas runback in Ukraine. But in spite of it, she was not able to guarantee sufficient experience and accumulated facilities for victory in a tender on development of the most considerable project now - Ïrykerchenskogo area on the Black sea shelf. The state from the side not only did not lobby activity of podkontrol'noy company, providing 90% booty of hydrocarbons in a country, but even reduced possibilities of development and expansion of making. The gradual increase of the rent payments for an oil and gas runback put under a question the positive dynamics of "Ókrnafty" and resulted in reduction of booty and to the possible closing of deposits in western part of Ukraine. Taking into account an exhausting tax base, "Ókrnafta" was not able to develop enough and go out on the level of many foreign extractive companies. To action were plugged in the calculation of index of Russell Global Index, that is a quite good index not only for the Ukrainian market but also for a separate company on the whole.
An investment group "Ñokrat" promoted recommendation on actions of "Ókrnafty" with purchase to aggressive purchase and having a special purpose price from $85,5 to $114,7. Estimation of long-term prospects of company by the model of DCF results in a fair value $114,7 for action, and comparative estimation on expectations 2008 years (EV/EBITDA - 2,1, P/E - 3,1) results in a cost $135,3. From the beginning of cy of price on action of company fell practically in unison with a market, repeating the dynamics of index of ÏÔÒÑ, in spite of the fact that an oil price grew all the time. The analyst Dmitry Õoroshun considers that mentality of investors which pay attention to the corporate conflict, was torn off from fundamental indexes which demonstrate substantial growth. So, on the II quarter 2008 years a net profit is forecast at level $296 millions (growth on 27% as compared to the I quarter), EBITDA - $202 millions (63%), a net income is $168 millions (88%). A high oil price will stipulate high indexes and for 2008 throughout the year - is expected, that a net profit will make $1,573 milliards, EBITDA - $1,144 milliards, a net income is $754 millions In future an analyst forecasts falling of oil price from $120 for the barrel of brand of BRENT in 2008 to $80 to 2012 years and increase of price on the sold gas to $198 for thousand cubic meters, that is very conservative estimation. It is not expected also expansions of network of ÀÇÑ (now 563 stations). An analyst considers thus, that the volumes of sales of fuel will grow to the normal level - with 2,5 ò on the station in a day in a cy to 3,5 ò in 2009 and to 7,5 ò in 2013.
"Ókrnafta" is the largest company with long-term experience on the booty of oil and gas runback in Ukraine. But in spite of it, she was not able to guarantee sufficient experience and accumulated facilities for victory in a tender on development of the most considerable project now - Ïrykerchenskogo area on the Black sea shelf. The state from the side not only did not lobby activity of podkontrol'noy company, providing 90% booty of hydrocarbons in a country, but even reduced possibilities of development and expansion of making. The gradual increase of the rent payments for an oil and gas runback put under a question the positive dynamics of "Ókrnafty" and resulted in reduction of booty and to the possible closing of deposits in western part of Ukraine. Taking into account an exhausting tax base, "Ókrnafta" was not able to develop enough and go out on the level of many foreign extractive companies. To action were plugged in the calculation of index of Russell Global Index, that is a quite good index not only for the Ukrainian market but also for a separate company on the whole.
An investment group "Ñokrat" promoted recommendation on actions of "Ókrnafty" with purchase to aggressive purchase and having a special purpose price from $85,5 to $114,7. Estimation of long-term prospects of company by the model of DCF results in a fair value $114,7 for action, and comparative estimation on expectations 2008 years (EV/EBITDA - 2,1, P/E - 3,1) results in a cost $135,3. From the beginning of cy of price on action of company fell practically in unison with a market, repeating the dynamics of index of ÏÔÒÑ, in spite of the fact that an oil price grew all the time. The analyst Dmitry Õoroshun considers that mentality of investors which pay attention to the corporate conflict, was torn off from fundamental indexes which demonstrate substantial growth. So, on the II quarter 2008 years a net profit is forecast at level $296 millions (growth on 27% as compared to the I quarter), EBITDA - $202 millions (63%), a net income is $168 millions (88%). A high oil price will stipulate high indexes and for 2008 throughout the year - is expected, that a net profit will make $1,573 milliards, EBITDA - $1,144 milliards, a net income is $754 millions In future an analyst forecasts falling of oil price from $120 for the barrel of brand of BRENT in 2008 to $80 to 2012 years and increase of price on the sold gas to $198 for thousand cubic meters, that is very conservative estimation. It is not expected also expansions of network of ÀÇÑ (now 563 stations). An analyst considers thus, that the volumes of sales of fuel will grow to the normal level - with 2,5 ò on the station in a day in a cy to 3,5 ò in 2009 and to 7,5 ò in 2013.
A government counted "Íaftogazu" dividends
A cabinet decided to improve the financial indexes of ÍÀÊ "Íaftogaz Ukraine" at legislative level, obliging "Ókrnaftu" and "ÓkrÃaz-Ýnergo" to pay ÍÀÊ dividends for the last two years. Yesterday a government brought in for consideration in the Supreme soviet project of changes in the state budget foreseeing such norm. However, even if a bill will be accepted, in "ÓkrÃaz-Ýnergo" not does intend to pay dividends, referring to the debt of ÍÀÊ before a company in size of a 1,8 milliard of UAH And the shareholders of "Ókrnafty" in general promised to contest initiative of Cabinet in a court.
ÎÀÎ of "Ókrnafta" and Joint-stock COMPANY of "ÓkrÃaz-Ýnergo" is under an obligation to pay ÍÀÊ "Íaftogaz Ukraine" dividends for 2006-2007 years, is talked in the amendments to the state budget-2008 of #2713 (amendments to the item 61), incorporated yesterday in the Supreme soviet. It is said in a bill, that, if to September, 1 the indicated companies will not make decision about dividends payment on shareholders' meeting, in a monthly term (to October) the dividends of "Íaftogaza" must be transferred automatically. "Ókrnafta" ("Íaftogazu" a 50%+1 action of company belongs) did not pay 4 milliards of UAH of dividends for 2006-2007 years. And "ÓkrÃaz-Ýnergo" (at ÍÀÊ 50% actions) - 917,95 million UAH for 2007 year. Thus, the lump sum of dividends undrawn by a company can make 2,5 milliards of UAH
In press-service renounced to comment "Íaftogaza" initiative of government. However much the source of Ú talks in a company, that in the case of receipt of dividends a company will be able on results a year to go out on a "small net income".
However, neither in "Ókrnafte" nor in "ÓkrÃaz-Ýnergo" not does intend to pay dividends, even if a law will be accepted. "Íaftogaz owes to our company $270 millions If will not return these money us, we will not be able to pay the dividends of neither ÍÀÊ nor second shareholder - RosUkrEnergo",- the press secretary "ÓkrÃaz-Ýnergo" Vitaly Êysel' declared. And the financial director "Ókrnafty" Valery Ïustovarov promised, that a company would not begin to react on the "incompetent" requirements of Cabinet in any case.
"If the Supreme soviet all the same signs new changes in a budget, in practice to realize them it will be very difficult", - the partner of legal company is sure the "Legal partners" Äomanskyy Andrey. According to him, now there are no legal mechanisms by which it was possible to compel the rule of company to do it. For this purpose it is necessary to pass a special act. Thus lawyer of company of "Sands and partners" Gennady Sands marks that on dividends payment can be imposed judicial prohibition, that legytymyzyruet refusal of rule to pay dividends. In the group of "Ïryvat"(42% actions of "Ókrnafty" own) does not eliminate such variant of development of events. A source in a group declared Ú, that the present changes in the state budget conflict with a law "On economic societies", and, if they will be ratified by the Supreme soviet, a company will contest them in a court.
ÎÀÎ of "Ókrnafta" and Joint-stock COMPANY of "ÓkrÃaz-Ýnergo" is under an obligation to pay ÍÀÊ "Íaftogaz Ukraine" dividends for 2006-2007 years, is talked in the amendments to the state budget-2008 of #2713 (amendments to the item 61), incorporated yesterday in the Supreme soviet. It is said in a bill, that, if to September, 1 the indicated companies will not make decision about dividends payment on shareholders' meeting, in a monthly term (to October) the dividends of "Íaftogaza" must be transferred automatically. "Ókrnafta" ("Íaftogazu" a 50%+1 action of company belongs) did not pay 4 milliards of UAH of dividends for 2006-2007 years. And "ÓkrÃaz-Ýnergo" (at ÍÀÊ 50% actions) - 917,95 million UAH for 2007 year. Thus, the lump sum of dividends undrawn by a company can make 2,5 milliards of UAH
In press-service renounced to comment "Íaftogaza" initiative of government. However much the source of Ú talks in a company, that in the case of receipt of dividends a company will be able on results a year to go out on a "small net income".
However, neither in "Ókrnafte" nor in "ÓkrÃaz-Ýnergo" not does intend to pay dividends, even if a law will be accepted. "Íaftogaz owes to our company $270 millions If will not return these money us, we will not be able to pay the dividends of neither ÍÀÊ nor second shareholder - RosUkrEnergo",- the press secretary "ÓkrÃaz-Ýnergo" Vitaly Êysel' declared. And the financial director "Ókrnafty" Valery Ïustovarov promised, that a company would not begin to react on the "incompetent" requirements of Cabinet in any case.
"If the Supreme soviet all the same signs new changes in a budget, in practice to realize them it will be very difficult", - the partner of legal company is sure the "Legal partners" Äomanskyy Andrey. According to him, now there are no legal mechanisms by which it was possible to compel the rule of company to do it. For this purpose it is necessary to pass a special act. Thus lawyer of company of "Sands and partners" Gennady Sands marks that on dividends payment can be imposed judicial prohibition, that legytymyzyruet refusal of rule to pay dividends. In the group of "Ïryvat"(42% actions of "Ókrnafty" own) does not eliminate such variant of development of events. A source in a group declared Ú, that the present changes in the state budget conflict with a law "On economic societies", and, if they will be ratified by the Supreme soviet, a company will contest them in a court.
«Ókrnafta» passed listing on the Prydneprovskoy exchange stock
Actions of ÎÀÎ of «Ókrnafta» passed listing on the Prydneprovskoy exchange stock and the decision of quoting commission appropriates the second level of listing them. About it reveals official edition to the State commission on securities and fund market of «List of ÃÊÖÁÔл.
Certificate is UNYAN. ÎÀÎ of «Ókrnafta» is the largest oil-extracting company of Ukraine which obtains a 75% oil and gas runback from the general volume of booty in a country.
50%+1 action of «Ókrnafty» belong ÍÀÊ «Íaftogaz Ukraine», 42% actions are controlled by the group of «Ïryvat». Actions of «Ókrnafty» are included in the index basket of ÏÔÒÑ.
Joint-stock COMPANY the «Prydneprovskaya exchange stock» (Dnepropetrovsk) carries out the management by financial markets. Incorporated in 1998
Certificate is UNYAN. ÎÀÎ of «Ókrnafta» is the largest oil-extracting company of Ukraine which obtains a 75% oil and gas runback from the general volume of booty in a country.
50%+1 action of «Ókrnafty» belong ÍÀÊ «Íaftogaz Ukraine», 42% actions are controlled by the group of «Ïryvat». Actions of «Ókrnafty» are included in the index basket of ÏÔÒÑ.
Joint-stock COMPANY the «Prydneprovskaya exchange stock» (Dnepropetrovsk) carries out the management by financial markets. Incorporated in 1998
Ukrneft declares about impossibility to conduct shareholders
"Ukrneft'" declares about impossibility to conduct shareholders' meeting from no grant of register
"Ukrneft'" declares the rule of oil-extracting company the largest in Ukraine about impossibility to conduct shareholders' meeting, appointed on September, 9 from no grant by the financial company of "Ókrneftegaz" (Kiev) register of shareholders.
About it is talked in announcement of rule accommodated at the entrance in the central office of "Ukrnefty" in Kiev.
"In connection with absence of register of owners of action of "Ukrnefty" and impossibility of leadthrough of register of shareholders, common shareholders' meeting of "Ukrnefty" will not take" place, - is talked in notification.
On collection it was planned to hear the report of rule, observant advice checkup committee on results activity after 2006-2007, to confirm an annual report and balance, distribute an income, make alterations and additions in regulation, pereyzbrat' the members of nabsoveta, chairmen and members of rule and revkomyssyy, and also to change the recorder of company.
Registration of shareholders was appointed on 10:00, collection on 11:00.
How reported an agency, in June and in April of shareholders' meeting of "Ukrnefty" also did not take place for lack of register, in January - for lack of quorum.
50%+1 action of "Ukrnefty" being the open corporation, belongs to National stock association "Neftegaz of Ukraine", about 42% actions belong to the companies, affylyrovanym with Pryvatbankom.
"Ukrneft'" declares the rule of oil-extracting company the largest in Ukraine about impossibility to conduct shareholders' meeting, appointed on September, 9 from no grant by the financial company of "Ókrneftegaz" (Kiev) register of shareholders.
About it is talked in announcement of rule accommodated at the entrance in the central office of "Ukrnefty" in Kiev.
"In connection with absence of register of owners of action of "Ukrnefty" and impossibility of leadthrough of register of shareholders, common shareholders' meeting of "Ukrnefty" will not take" place, - is talked in notification.
On collection it was planned to hear the report of rule, observant advice checkup committee on results activity after 2006-2007, to confirm an annual report and balance, distribute an income, make alterations and additions in regulation, pereyzbrat' the members of nabsoveta, chairmen and members of rule and revkomyssyy, and also to change the recorder of company.
Registration of shareholders was appointed on 10:00, collection on 11:00.
How reported an agency, in June and in April of shareholders' meeting of "Ukrnefty" also did not take place for lack of register, in January - for lack of quorum.
50%+1 action of "Ukrnefty" being the open corporation, belongs to National stock association "Neftegaz of Ukraine", about 42% actions belong to the companies, affylyrovanym with Pryvatbankom.
Growth of profit
As far as acquisition of qualification a specialist applies on everything more high ettlings. However besides the desire and aspiration to earn an individual forced to run into factors having a negative influence on the size of his profit. Ordinary worldly situation: to you does not scale up wages. Or pay as many by the job, how many paid from the beginning of collaboration, when you only began to execute this work.
We will mark also, that countries in the world are, where any working man is legislatively protected. And regardless of level of qualification, working on chetyre-shest' of clock five days in a week, he provides itself by subsistence and habitation. Russia for some poldyuzhyny of years from a country with the 100%-nymy guarantees grew into the state in which even the specialist of the highest qualification and claimed appeared not at businesses. In last shest'-sem' of years, opposite, there is a reverse tendency. The ettlingss grow, the middle level of profit rises. However observed this growth is very unevenly. And for today it is possible to select specialities, better and worse paid. It is possible to establish, that chart «good knowledges are good estimations is good diploma is well-paid work» in-use by a senior generation, does not operate. Or, we will say so, operates scope very limited. And a modern man, persons interested to earn in sizes sufficient for providing of subsistence and pay for dwelling, must come running to more difficult charts. For example, to use possibilities of earnings in different spheres.
That the question is about the use of skills of a few specialities, ability to organize earnings, involving a hobby, and aspiration to have a few sources of profit. Now, when I write these lines, the number of sources of my profits is 11. And I continue to grow him. So was not always. I got through the business, which was not only my unique source of existence but also object for investing of the incomes earned in him. By other words, I inlaid the earned facilities again in the business. All was wonderful, while market of financial services which I was specialized in the field of, grew. However much I felt quite helpless, when a situation changed sharply.
I passed a situation in relation to a high salary profit again being an almost unique source, and very
painfully met his loss. Some time I remained practically without a current cash on a hand. Meditations about the sale of assets simply for the sake of receipt of facilities for life give neither a confidence nor gladness.
Not immediately, but little by little I began to understand that a primordial chart must be other. In a great deal it happened due to the good books of western authors which, getting through similar situations, not only with honour from them got out but also was kindly divided by the experience with us. I bring references to these books in the list of literature.
Certainly, all of us would like to have a permanent profit and possibility to dedicate time to favourite employments and near. But, as show the simple supervisions, usually people doing a career by own forces often enough run into a problem, when employers try to pay to them less. However there is counteraction on any action. It is necessary systematic to promote the qualification, search new, more generously paying your work sources and gradually to renounce worst. Gradually - to remain not without the current receipts.
You can make attempt me to object, noticing that similar approach requires too large efforts. I can in reply notice that, only developing and perfected, we live truly. And in this plan employers are no more than our allies. Well well, and who of us without efforts from the side of employers, without their persistent requirements, independently would begin to promote qualification? Declared statements this one, but as actually? Work forces us to become more skilled on the business. This is axiom. And in addition, by people more sociable, sociable, considering circumferential. I do not assert that it is necessary to be glad to the situation, - the rights to defend is needed. The position however offered by me will give much more optimistic mood and direction for motion.
There is another aspect at a way to the increase of profit his planning. Many avoid similar meditations, because consider that it is impossible to promote a profit in principle. Such approach, ununderstanding of essence of what is going on underlaids. A man does not perceive the major aspect of own influence on any situation, which takes place with him, does not realize own responsibility for her. If only to assume that our thoughts and plans influence on everything, that with us takes place, including in the field of our profits» that the actions on planning of profits at once become intelligent.
And here we in first the time in this book come to the personal budget as to the instrument of planning of profits - the quiet, well-disposed in relation to itself, structural planned increase of profits. Properties of human psyche and mind, allowing to apply this method effectively, were repeatedly investigational and described. References to these researches it is possible to find in the list of literature.
So, we will sum up. Growth of profit can be carried out by the way of the following to the real recommendations:
• in-plant training;
• construction of plural sources of profit;
• use of hobbies and no types skills for the receipt of additional profits;
• planning of profits;
• optimism.
We will mark also, that countries in the world are, where any working man is legislatively protected. And regardless of level of qualification, working on chetyre-shest' of clock five days in a week, he provides itself by subsistence and habitation. Russia for some poldyuzhyny of years from a country with the 100%-nymy guarantees grew into the state in which even the specialist of the highest qualification and claimed appeared not at businesses. In last shest'-sem' of years, opposite, there is a reverse tendency. The ettlingss grow, the middle level of profit rises. However observed this growth is very unevenly. And for today it is possible to select specialities, better and worse paid. It is possible to establish, that chart «good knowledges are good estimations is good diploma is well-paid work» in-use by a senior generation, does not operate. Or, we will say so, operates scope very limited. And a modern man, persons interested to earn in sizes sufficient for providing of subsistence and pay for dwelling, must come running to more difficult charts. For example, to use possibilities of earnings in different spheres.
That the question is about the use of skills of a few specialities, ability to organize earnings, involving a hobby, and aspiration to have a few sources of profit. Now, when I write these lines, the number of sources of my profits is 11. And I continue to grow him. So was not always. I got through the business, which was not only my unique source of existence but also object for investing of the incomes earned in him. By other words, I inlaid the earned facilities again in the business. All was wonderful, while market of financial services which I was specialized in the field of, grew. However much I felt quite helpless, when a situation changed sharply.
I passed a situation in relation to a high salary profit again being an almost unique source, and very
painfully met his loss. Some time I remained practically without a current cash on a hand. Meditations about the sale of assets simply for the sake of receipt of facilities for life give neither a confidence nor gladness.
Not immediately, but little by little I began to understand that a primordial chart must be other. In a great deal it happened due to the good books of western authors which, getting through similar situations, not only with honour from them got out but also was kindly divided by the experience with us. I bring references to these books in the list of literature.
Certainly, all of us would like to have a permanent profit and possibility to dedicate time to favourite employments and near. But, as show the simple supervisions, usually people doing a career by own forces often enough run into a problem, when employers try to pay to them less. However there is counteraction on any action. It is necessary systematic to promote the qualification, search new, more generously paying your work sources and gradually to renounce worst. Gradually - to remain not without the current receipts.
You can make attempt me to object, noticing that similar approach requires too large efforts. I can in reply notice that, only developing and perfected, we live truly. And in this plan employers are no more than our allies. Well well, and who of us without efforts from the side of employers, without their persistent requirements, independently would begin to promote qualification? Declared statements this one, but as actually? Work forces us to become more skilled on the business. This is axiom. And in addition, by people more sociable, sociable, considering circumferential. I do not assert that it is necessary to be glad to the situation, - the rights to defend is needed. The position however offered by me will give much more optimistic mood and direction for motion.
There is another aspect at a way to the increase of profit his planning. Many avoid similar meditations, because consider that it is impossible to promote a profit in principle. Such approach, ununderstanding of essence of what is going on underlaids. A man does not perceive the major aspect of own influence on any situation, which takes place with him, does not realize own responsibility for her. If only to assume that our thoughts and plans influence on everything, that with us takes place, including in the field of our profits» that the actions on planning of profits at once become intelligent.
And here we in first the time in this book come to the personal budget as to the instrument of planning of profits - the quiet, well-disposed in relation to itself, structural planned increase of profits. Properties of human psyche and mind, allowing to apply this method effectively, were repeatedly investigational and described. References to these researches it is possible to find in the list of literature.
So, we will sum up. Growth of profit can be carried out by the way of the following to the real recommendations:
• in-plant training;
• construction of plural sources of profit;
• use of hobbies and no types skills for the receipt of additional profits;
• planning of profits;
• optimism.
Creation of reserve
To one people this stage is given easily and without tension. Other - vice versa. But regardless of how initially there were the pashas of relationship with accumulations, you can succeed here, capturing effective methods. As a rule, that, who does not succeed to accumulate facilities, a superfluous wastefulness prevents. Reasons for the similar conduct can be fully objective. For example, people circumferential you have a strong sense to accumulation - and you are forced to outlay anymore simply in order to provide due quality of life to itself and near. Other, often meeting variant are you are inclined to accomplish the «imaginary» purchases, I.e. to acquire things, following the appeals of publicities rollers. If this so, no even highest profits will appear it is not enough for forming of backlogs. Such our modern world is world of user of material welfares. Do you disbelieve?
Then conduct the simple experiment. Looking over one of good, flush by publicities rollers films, write that offered to you during viewing. And fill in approximate price-lists opposite every position. Well and as? In fact the question is not only about relatively inoffensive butters for frying, mayonnaises and detergents but also about clothes, digital technique, cars, out-of-town cottages and houses, apartments, trips, and main - about the way of life, supposing the permanent and ponderable spending. About such lifestyle which it is impossible to provide, not having credits cards or parents-millionaires. But washed here we decide a reverse task - as reason by a millionaire. Later, discussing effective earnings at the fund market, we will get back to the same theme, but from other end: how it is possible to begin to work on her. At short notice simply we will accept as a rule: we reasonably plan spending. And, already in second times from the beginning of book, we speak to the personal budget as to the effective instrument for forming of backlogs.
Persons interested reason by the possessor of the millionth state must accept as axiom: it is necessary to conduct the personal budget. For the beginning of him it is possible to make in a weekly or in a notebook with the checked paper. Computer amateurs can begin the conduct of budget in an electronic form (very comfortably in the program of Excel). All it is simple to the utmost: two columns, in one we bring in the planned profits, and in other are charges. More comfortable to arrange charges on the articles, such as meal, clothes, obustroystvo at home, employments by sport, transport, trips and ïðî÷. - so that a list did not turn out endless and was comfortable for the analysis. Conducting a budget, it is necessary absolutely to follow diaereses to the rules.
Rule first. Charges not must exceed profits.
Rule second. It is necessary to create reserve - I.e. to plan in a budget certain sum in size of 10-30% from the sum of profits on accumulation of reserves.
Rule third. The effective use of reserve must translate a budget on a new level. Through the set time all charges must be fully compensated by the profits got from the use of backlogs, I.e. from investing of backlogs.
And, thus, we walked up to the third stage.
Then conduct the simple experiment. Looking over one of good, flush by publicities rollers films, write that offered to you during viewing. And fill in approximate price-lists opposite every position. Well and as? In fact the question is not only about relatively inoffensive butters for frying, mayonnaises and detergents but also about clothes, digital technique, cars, out-of-town cottages and houses, apartments, trips, and main - about the way of life, supposing the permanent and ponderable spending. About such lifestyle which it is impossible to provide, not having credits cards or parents-millionaires. But washed here we decide a reverse task - as reason by a millionaire. Later, discussing effective earnings at the fund market, we will get back to the same theme, but from other end: how it is possible to begin to work on her. At short notice simply we will accept as a rule: we reasonably plan spending. And, already in second times from the beginning of book, we speak to the personal budget as to the effective instrument for forming of backlogs.
Persons interested reason by the possessor of the millionth state must accept as axiom: it is necessary to conduct the personal budget. For the beginning of him it is possible to make in a weekly or in a notebook with the checked paper. Computer amateurs can begin the conduct of budget in an electronic form (very comfortably in the program of Excel). All it is simple to the utmost: two columns, in one we bring in the planned profits, and in other are charges. More comfortable to arrange charges on the articles, such as meal, clothes, obustroystvo at home, employments by sport, transport, trips and ïðî÷. - so that a list did not turn out endless and was comfortable for the analysis. Conducting a budget, it is necessary absolutely to follow diaereses to the rules.
Rule first. Charges not must exceed profits.
Rule second. It is necessary to create reserve - I.e. to plan in a budget certain sum in size of 10-30% from the sum of profits on accumulation of reserves.
Rule third. The effective use of reserve must translate a budget on a new level. Through the set time all charges must be fully compensated by the profits got from the use of backlogs, I.e. from investing of backlogs.
And, thus, we walked up to the third stage.
Effective investing
So, two whale on a fig. 1 the areas and business required by a task swam remained after the third. Exactly he will provide us a victory finish at a ribbon with a number 1 000 000. On two first stages of way we grow a profit and create backlogs. But if the third whale of not signs relay race, effective increase of welfare will not turn out. 10% earnings set aside as reserve will depreciate on 10-50%, depending on that, where it is planned to spend facilities. If this is the depersonalized cash reserve, depreciation will take place in accordance with the percent of inflation - 9% for 2007
If the question is about the purchase of the real estate, or lot land or actions of certain companies, the decline of purchasing power of facilities can go substantially by more high rate - similar to that which showed the market of the real estate us in 2005-2006, when prices on habitation rose more than twice. So, every month, day after a day, 24 hours in days, we grow a profit, create backlogs, search ideas for the effective investing and finally invest. If you now wait the list of investment instruments and addresses of brokers, you are right, but only partly. In that sense, that a list will appear very long, and addresses - much. And from you will be required most difficult - to choose. Because there is no ideal method for all, but there are methods suitable to you and only to you.
If the question is about the purchase of the real estate, or lot land or actions of certain companies, the decline of purchasing power of facilities can go substantially by more high rate - similar to that which showed the market of the real estate us in 2005-2006, when prices on habitation rose more than twice. So, every month, day after a day, 24 hours in days, we grow a profit, create backlogs, search ideas for the effective investing and finally invest. If you now wait the list of investment instruments and addresses of brokers, you are right, but only partly. In that sense, that a list will appear very long, and addresses - much. And from you will be required most difficult - to choose. Because there is no ideal method for all, but there are methods suitable to you and only to you.
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