"Sheriff" leads in top billionaire companies of Moldova

Sheriff leads in top billionaire companies of Moldova. The respective data was provided by newspaper Adevarul [truth]. In 2010, the amount of transactions of the largest Moldovan companies approached the sum of 21 billion lei.
INFOTAG, 27 July 2011, 10:54

Company Sheriff became leader by largest incomes and sales. The company belongs to Tiraspol business people who concentrated in their hands a large share of Transnistrian region's economy.

The leader of the Dniester left riverbank performed sales worth of about 4 billion lei, which is 300 million lei more as compared with 2009.

Transnistrian companies do not amount to nothing more than Sheriff. The top also includes 3 regional enterprises with Russian capital. It is related to the Moldavskaya GRES (5th), assets of Inter RAO UES Group and Moldovan Metallurgical Plant (MMZ) of Ribnita (7th), belonging to Russian billionaire Alisher Usmanov.

The 2nd ranking in top ten largest companies belongs to Moldovagaz, having transactions worth of 3.8 billion lei. It is followed by Group Gas Natural Fenosa (3.1 billion lei), Orange Moldova (2.52 billion), CERS Moldoveneasca and Moldtelecom with 2.46 and 2.4 billion respectively.

The MMZ, whose volume of transactions in 2008 amounted to 5 billion lei, had only 1.5-million-lei deals in 2010 due to the crisis and standing idle for about 6.5 months. The 8th ranking belongs to Tirex-Petrol - the only oil company of Moldova. Last rankings are allotted to Chisinau CET-2 [thermal power plant] and Air Moldova with 1.18 and 1.075 billion lei respectively.

The rating changes radically when it is related to profits/losses of companies. The leader here is Orange Moldova with an over 1 billion lei of net profit, which is followed by Moldtelecom (385 million), Group Gas Natural Fenosa (346.4 million) and Sheriff (about 315 million). And 3 companies leading in another rating had losses in 2010.

Top ten largest companies in transaction cost prove that country economy is controlled by monopolists.

"It is natural, as Moldovagaz, Moldtelecom and Gas Natural Fenosa have the most number of clients", expert Vlad Bercu said, adding that "food industry seems to be a symbol of the Moldovan economy; profiled enterprises conclude insignificant deals, as compared with the monopolists".

Economist of Institute for Development and Social Initiatives, IDIS Viitorul - Viorel Chivriga - said that any rating is not full, as many Moldovan enterprises hide the real amount of transactions from fear of that "excessive transparency may harm their business".

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