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Economy 2019-04-15T05:17:01+03:00
Ukrainian news
Smart Holding: PGO Holding Another Search In Company's Central Office And Shipyards

Smart Holding: PGO Holding Another Search In Company's Central Office And Shipyards

The Smart-Holding company says the Prosecutor General's Office is holding another search in the central office of the company in Kyiv, its shipyards in Kherson and Mykolaiv, at homes of employees of the company.

The company announced this in a statement, Ukrainian News Agency reports.

"This is the seventh search at shipyards this year. This time the searches are carried out within a pretrial investigation into allegedly power abuses by representatives of the State Property Fund of Ukraine and the Industrial Policy Ministry during introduction of amendments to the purchase and sale contract on shares of the Black Sea shipyard (Mykolaiv), which is a part of the shipbuilding subholding Smart Maritime Group and into allegedly deliberate leading the Black Sea shipyard to bankruptcy. At presemt, the shares of the shipyard, including those bought at the free market, are under arrest following a motion from the Prosecutor General's Office," reads the statement.

The company protests against systematic searches.

"We also have reasons to believe that the shipbuilding assets of Smart Holding are in the zone of business interests of rivals who are close to the government now," reads the statement.

As Ukrainian News Agency earlier reported, the Smart-Holding company (Kyiv) considers investigation by the Prosecutor General's Office (PGO) into abuse of power by higher-ups of the State Property Fund (SPF) at the time of making amendments to a purchase and sale agreement of the Black Sea Shipbuilding Plant (Mykolaiv) is pressure on the company and its stockholder.

The Prosecutor General's Office opened a pretrial investigation into facts of abuse by senior officials of the SPF during entering amendments into the purchase and sale agreement of the Black Sea Shipbuilding Plant.

In 2016, in compliance with the international financial reporting standards, the Black Sea Shipbuilding Plant increased its losses 3.5 times to UAH 169.668 million year over year.

In 2016, the company cut the net profit twofold or UAH 24.834 million to UAH 23.564 million year over year.

Больше новостей о: Kyiv PGO smart holding search kherson office shipyard Mykolaiv

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