The majority shareholder of combine producer Semanatoarea Bucharest SA, Myo-o SA, has appraised its own brand at $2.7 million and will use it as contribution in kind for a capital increase at Semanatoarea. The increase has to be done as undertaken in the privatisation contract. Dorinel Cazacu, Myo-o's managing director, says this amount does not seem too high for him, but on the contrary. "We would have expected the evaluator to judge the Myo-o brand as more valuable. Out of the three methods for computing the price of the brand, the cost method, the current net profits method and the future net profits projection method we chose the first, which provides the lowest price," Cazacu said. The appraisal was done by a member of the National Association of Evaluators (ANEVAR). He says a great deal of investment has been put into promoting the Myo-o brand in the last couple of years and the company's presence nationwide is very good due to both its distribution network and to 17 regional dealers. Cazacu says the method that provided the lowest price for the Myo-o brand was chosen out of cautiousness and to avoid comments. ZF
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