2015-01-13

Daily Report
Report
Daily
|
NEWS & ANALYSIS

13 January 2015

2015.01.13
Performance

Last

Country

14,497.93
17,640.84
2,028.26
4,664.71
14,265.01
6,501.42
5,389.50
23,990.87
183.77

MN
US
US
US
CN
UK
US
HK
ASIA

YTD change %

-0.10
-0.54
-0.81
-0.84
-0.83
0.00
-0.61
-0.15
-0.27

-2.40
-1.02
-1.49
-1.51
-2.51
-0.98
-0.40
1.63
-0.16

COMMODITY PRICES

Performance

Last
USD

Commodity
Prime Coking Coal /Tianjin
Zinc Spot /LME
Iron Ore 58%/Tianjin
Copper Spot /LME
Oil
Gold Spot /LME
Silver Spot /LME

Change %
(Day)

137.01
2,127.50
68.80
6,101.00
45.44
1,236.14
16.73

YTD change %

0.00
-0.84

-1.16
-1.82
-49.33
-4.19
-14.70
4.37
6.48

-1.06
-1.37
0.23
0.88

MONGOLIAN ECONOMIC INDICATORS

Indicator
RGDP /bln. MNT/
NGDP /bln.MNT/
Inflation
Foreign reserve /mln. USD/
Policy rate

Date

Last

2014.09
2014.09
2014.11
2014.11
July 31 ,2014

11,094
16,517
1,352.1
12.00

Last

Yield

YoY change
%
7.0
18.8
11.5
-41.5

DEBT MARKET

Amt.
issued mln
USD
DBM bond - 5.75
580
MMC bond - 8.875
600
Mongol 2018 - 4.125
500
Mongol 2022 - 5.125
1,000
TDBM 2015 - 8.5
300
TDBM 2015 - 12.5
25
TDBM 2017 - 10 dim sum
115
DBM bond - 1.52 sam.
290
Bonds - Coupon

96.50
66.50
92.35
85.73
99.50
98.38
96.99
104.14

Maturity date

7.512
30.896
6.749
7.420
9.240
13.093
11.423
1.009

3/21/2017
3/29/2017
1/5/2018
12/5/2022
9/20/2015
11/17/2015
1/21/2017
12/25/2023

INDICES CHANGE

-3.34

Nikkei 225
-1.92
DAX

-0.24

1.38

1.63

-0.15
-0.61

-0.40

FTSE 100

0.00

-1.51

-0.54

-1.02
Volume

-2.40
YTD %

MSE TOP 5 MOST TRADED

Trade value '000

13.89%
2.38%

-15%

-10%

-5%

0%

5%

January-15

October-14

-0.74%

December-14

6,000

November-14

4,000

September-14

2,000

July-14

5,093

0
August-14

0.10%

2,000

0
May-14

TTL

4,000

June-14

4,850

6,000

4,000

April-14

DHU

8,000

2,000

0.00%

2,312

10,000

6,000

March-14

ATR

12,000

8,000

January-14

2,150

14,000

10,000

February-14

BUK

16,000

12,000

December-13

1,166

18,000

October-13

GTJ

20,000

14,000

November-13

Change % (Day)

MSETOP Index

16,000

September-13

-0.10

July-13

MSE - Top20

August-13

-0.84

DJIA

May-13

Nasdaq

-2.51

June-13

-0.83

April-13

S&P/TSX comp

-0.98

GLOBAL NEWS
Asian Stocks Decline as Oil Slumps, Yen Drags Japan Shares Lower
Asian stocks fell as oil at a 5 1/2 year low weighed on energy companies and a stronger yen and
declines in U.S. equities dragged down Japanese shares as the market opened after a holiday. The
MSCI Asia Pacific Index (MXAP) slipped 0.4 percent to 137.32 as of 9:01 a.m. in Tokyo, before
markets opened in Hong Kong and China. The yen rose 0.1 percent to 118.26 per dollar, after
climbing 0.1 percent yesterday. The Standard & Poors 500 Index sank 0.8 percent yesterday after
sliding 0.8 percent on Dec. 9. The decline in crude gathered pace as Goldman Sachs Group Inc. and
Societe Generale SA cut price forecasts for the commodity, amid projections a global glut will
continue. China trade data today will probably show exports grew 6 percent last month, while imports
dropped 6.2 percent, according to the median estimate of economists surveyed by Bloomberg.
Recent Chinese data have been weak, with a report last week showing producer prices in December
falling more than forecast. An official manufacturing gauge slid to the lowest level in 18 months last
month, while industrial profits slumped by the most in two years in November. Copper traded at a fiveyear low on prospects consumption of the metal will slow in Asias largest economy.
http://www.bloomberg.com/news/2015-01-13/asian-stocks-decline-as-oil-slumps-yen-drags-japanshares-lower.html

March-13

S&P/ASX 200

Meat Exports discussed at Ministry

S.Batbold, MP and Head of the Environment, Food and Agriculture Standing Committee visited
Ministry of Food and Agriculture. The main focus of the meeting was directed at the current and future
meat exports. Meat exports has full potential to become one of the strategic products and in view of
this talks with state officials of neighbouring countries took place last year. During the meeting experts
at Ministry have noted that although the number of cattle increased, meat exports declined for 2014
due to the lack of processing manufactures and health and safety standards. On the other hand, as
specialists emphasized, the composition of the cattle itself and the cattle selection are not yet
suitable and economically effective for the intensive meat farming. There is need to increase the
number of meat breed cows and reducing the number of goats and take measures to improve the
health and safety standards on top of improving the legislation as well. Experts also mentioned that
soon Ministry will submit draft bills on Cattle Genetic Resources, Health and Safety of the Cattle,
Cattle Breeding Development and Pasture Land to the Standing Committee.
http://mongolia.gogo.mn/r/143798

Thousands

Hang Seng

Kincora Copper's revoked gold licences go to second tender

Kincora Coppers (CVE:KCC) gold licences revoked by the Mongolian government will be subject to
another round of tenders next month to determine if it will get them back. The two licences, owned by
its Golden Grouse subsidiary, were among 106 cancelled by the Mongolian government after
questions over how they were issued; Kincora has already taken a C$6.95mln impairment charge in
relation to the licences. A process has now started in Mongolia for previous owners of the 106
licences to re-tender or alternatively to get back any expenditure they had incurred from a new owner.
Kincora said its licences were part of a batch of thirteen put up for re-tender on 9 January, but will
now be subject to a second and final tender on 11 February. Overall, 23 licences with an estimated
cumulative US$2.49mln of expenditure have been re-tendered so far, said Kincora, with 16 returned
to the former holders, three remaining with the State following no bids and four acquired by third
parties. Last month, the company said it had agreed a figure for its exploration costs so far and these
will be reimbursed if it is unsuccessful in the tender. Kincora added today that it looked forward to the
conclusion of the dispute in an equitable manner next month.
http://www.proactiveinvestors.com/companies/news/59192/kincora-coppers-revoked-gold-licences-goto-second-tender-59192.html

January-13

MSE - Top20
DJIA
S&P 500
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
Bloomberg/asia.pac

Change %
(Day)

February-13

Index

MONGOLIAN RELATED NEWS

Development Bank of Mongolia funds 116 projects
A list of the companies that were given credits by the Development Bank of Mongolia, in light of
promoting the exports through domestic import-substituting industries, was issued on January 9.
Credits below the amount of two billion tugrik have been allocated to 92 companies to implement
projects on light industries, food industries and construction materials manufacturing. Credits above
the amount of two billion tugrik were issued for 24 companies that operate in sectors such as drugs8
bio-preparations and land farming. According to the report by the DB, the above allocations totaled to
MNT 171.6 billion, which has financed 116 projects out of the intended 888 national projects.
http://en.montsame.mn/economics/item/9822-db-funds-116-projects

13 January 2015

MONGOLIAN RELATED COMPANIES

Chg day %

YTD %

Trade value
000 USD

Market cap
mln USD/

52w high

52w low

Currency
cross

2.950

-1.67

-4.84

6,131.1

5,936.28

4.36

2.75

1.00

6.950

2.96

15.07

9,797.7

1,373.74

7.07

3.16

1.20

HKD

0.325

-1.52

-4.41

10.9

388.28

0.84

0.32

7.75

DML CN Equity

CAD

1.100

-0.90

-2.65

1,811.0

465.26

1.95

1.02

1.20

Winsway Coking Coal Holdings Ltd

1733 HK Equity

HKD

0.249

0.00

-2.35

82.9

121.18

0.55

0.25

7.75

MoEnCo

276 HK Equity

HKD

0.425

0.00

6.25

36.5

92.59

1.06

0.38

7.75

SouthGobi Resources

1878 HK Equity

HKD

3.800

-2.31

-1.55

4.9

107.22

6.20

3.49

7.75

Central Asia Metals PLC

CAML LN Equity

GBp

161.750

-5.96

-11.61

6,052.0

273.38

190.00

148.00

0.66

Mongolia Investment Group Ltd

402 HK Equity

HKD

0.290

0.00

-13.43

95.0

251.40

0.38

0.16

7.75

Mongolia Growth Group

YAK CN Equity

CAD

0.700

0.00

-5.41

8.7

20.40

3.07

0.68

1.20

North Asia Resources Holdings Ltd

61 HK Equity

HKD

0.144

0.00

-2.70

8.8

112.96

0.21

0.10

7.75

Guildford Coal Ltd

GUF AU Equity

AUD

0.035

0.00

-2.78

2.9

26.23

0.11

0.03

1.22

Origo Partners PLC

OPP LN Equity

GBp

6.125

0.00

0.00

185.9

33.15

8.25

6.13

0.66

Entree Gold Inc

ETG CN Equity

CAD

0.230

4.55

12.20

5.8

28.27

0.52

0.18

1.20

Aspire Mining Ltd

AKM AU Equity

AUD

0.033

-2.94

0.00

0.2

18.96

0.07

0.03

1.22

Prophecy Coal Corp

PCY CN Equity

CAD

0.070

0.00

40.00

11.8

14.74

0.11

0.04

1.20

FeOre Ltd

FEO AU Equity

AUD

0.026

0.00

0.00

1.2

11.23

0.08

0.02

1.22

Petro Matad Ltd

MATD LN Equity

GBp

2.375

0.00

11.76

180.2

10.07

11.50

2.00

0.66

Xanadu Mines Ltd

XAM AU Equity

AUD

0.125

0.00

25.00

2.4

37.09

0.18

0.03

1.22

Haranga Resources Ltd

HAR AU Equity

AUD

0.013

0.00

-7.14

2.5

3.63

0.09

0.01

1.22

Wolf Petroleum Ltd

WOF AU Equity

AUD

0.040

0.00

-11.11

6.5

9.77

0.08

0.03

1.22

Manas Petroleum Corp

MNAP US Equity

USD

0.070

-12.50

-22.17

0.3

11.69

0.17

0.04

1.00

Khan Resources Inc.

KRI CN Equity

CAD

0.410

-4.65

-15.46

9.6

23.35

0.49

0.21

1.20

East Asia Minerals Corp

EAS CN Equity

CAD

0.015

0.00

50.00

2.1

1.48

0.11

0.01

1.22

Erdene Resource Development Corp

ERD CN Equity

CAD

0.105

-16.00

0.00

0.4

7.25

0.26

0.09

1.20

Modun Resources Ltd

MOU AU Equity

AUD

0.004

0.00

33.33

0.8

5.80

0.01

0.00

1.22

Kincora Copper Ltd

KCC CN Equity

CAD

0.025

0.00

0.00

18.1

6.48

0.09

0.02

1.20

General Mining Corp Ltd

GMM AU Equity

AUD

0.005

0.00

0.00

0.0

0.55

0.02

0.01

1.22

Draig Resources Ltd

DRG AU Equity

AUD

0.016

0.00

23.08

0.8

0.87

0.04

0.01

1.22

Newera Resouces Ltd

NRU AU Equity

AUD

0.002

0.00

0.00

3.3

1.99

0.01

0.00

1.22

Blina Minerals NL

BDI AU Equity

AUD

0.001

0.00

0.00

0.0

1.31

0.00

0.00

1.22

Name

Sym

Currency

Last

Turquoise Hill

TRQ US Equity

USD

Centerra Gold

CG CN Equity

CAD

MMC

975 HK Equity

Denison Mines Corp

30 day graphic

Source: Bloomberg

MONGOLIAN STOCK MARKET

12 January 2015

16

JSC's

TOP20 index

was

14,497.93

12,011

shares

worth

Change day

18.06

mln

MNT

-0.10%

YTD

-2.40%

have

Company name

Trade volume

Trade value
'000

Last

Chg day

Chg day %

Buy volume

Buy price

Sell price

Sell volume

TTL

1,267

5,093

4,020

-30.00

-0.74%

10

4002

4300

99

DHU

970

4,850

5,000

5.00

0.10%

50

5000

ATR

34

2,312

68,000

0.00

0.00%

68000

70000

BUK

50

2,150

43,000

1000.00

2.38%

13

42040

44200

34

GTJ

376

1,166

3,100

-500.00

-13.89%

124

3100

3499

75

UID

1,415

806

569

10.00

1.70%

139

550

599

50

HGN

5,581

553

99

0.00

0.00%

2715

95

99

7575

SHV

100

450

4,501

1.00

0.02%

4500

5000

376

UYN

271

282

1,041

91.00

9.58%

45

807.5

1149

10

TAV

175

35,000

0.00

0.00%

30000

35000

50

ETR

970

95

98

0.00

0.00%

960

90

96

2771

RMC

560

54

96

-3.00

-3.03%

1480

96

99

2822

JTB

400

36

89

-1.00

-1.11%

1063

89

90

3479

MNH

21

4,100

0.00

0.00%

4715

20

MMX

18

3,600

-90.00

-2.44%

3497

3600

171

HSG

1,300

100.00

8.33%

18

1300

been

traded.

13 January 2015

Investment Banking Division of Golomt Bank

The principal activities of Investment Banking Division constitute structuring, sourcing, negotiating and closing debt and equity
financings as well as the provision of incisive advisory services for private and public companies as well as institutions, public sector
agencies and authorities.
0
Our vision is to fuel the profitable
growth of our valued clients by providing the highest-quality investment banking services, and in so
doing create an environment which will lead to long term, mutually beneficial relationships. We strive to achieve these lasting
relationships by matching each client assignment with the collaborative expertise of the Banks team of seasoned banking and
investment professionals.
Contact
Sukhbaatar Square, Ulaanbaatar 210620A, Mongolia
Fax: +976-70117676 /1402/
E-mail: ibd@golomtbank.com
Website: www.golomtbank.com

Disclaimer
2014.09
2702.1
This
document has
been prepared by the investment banking division of Golomt Bank for information purpose only. The views
2013.06are the7591
expressed
views of the analyst and are subject to change based on market and other conditions and factors. The
information provided does not constitute investment advice or other recommendations and should not be relied on as such. It
should
not be considered a solicitation to buy or an offer to sell a security or to pursue any trading or investment strategy. All
13606.65
material, including information sourced from or attributed to Golomt Bank, has been obtained from sources believed to be
reliable, but its accuracy is not guaranteed. Past performance is no guarantee for future results. Accordingly you must
3250 for you of the securities/transactions before investing
independently determine, with your own advisors, the appropriateness
or transacting.

92.348