Daily Report 20141215

8/10/2019 Daily Report 20141215

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Change %

(Day) YTD change %

MSE - Top20 MN 15,019.11 -0.20 -7.87

DJIA US 17,280.83 -1.79 4.25

S&P 500 US 2,002.33 -1.62 8.33

Nasdaq US 4,653.60 -1.16 11.42S&P/TSX comp CN 13,731.05 -1.25 0.80

FTSE 100 UK 6,300.63 -2.49 -6.64

S&P/ASX 200 US 5,175.90 -0.84 -3.29

Hang Seng HK 22,922.45 -1.41 -1.65

Bloomberg/asia.pac ASIA 177.06 -1.10 5.31

COMMODITY PRICES

Change %

(Day) YTD change %

Prime Coking Coal /Tianjin 138.96 0.00 -26.50

Zinc Spot /LME 2,178.50 -0.10 6.11

Iron Ore 58%/Tianjin 73.13 -46.14

Copper Spot /LME 6,542.25 0.38 -11.30

Oil 56.84 -1.68 -42.25

Gold Spot /LME 1,217.39 -0.43 1.31

Silver Spot /LME 16.84 -1.13 -13.51

MONGOLIAN ECONOMIC INDICATORS

Date Last YoY change

%

RGDP /bln. MNT/ 2014.07 9,857 5.3

NGDP /bln.MNT/ 2014.07 6,635 14.6

Inflation 2014.10 12.1

Foreign reserve /mln. USD/ 2014.09 1,542.7 -42.4

Policy rate July 31 ,2014 12.00

DEBT MARKET

Bonds - Coupon

Amt.

issued mln

USD

Last Yield Maturity date

DBM bond - 5.75 580 96.25 7.579 3/21/2017

MMC bond - 8.875 600 67.50 29.367 3/29/2017

Mongol 2018 - 4.125 500 94.53 5.873 1/5/2018

Mongol 2022 - 5.125 1,000 89.13 6.777 12/5/2022

TDBM 2015 - 8.5 300 99.88 8.641 9/20/2015

TDBM 2015 - 12.5 25 100.00 12.173 11/17/2015

TDBM 2017 - 10 dim sum 115 97.78 10.955 1/21/2017

DBM bond - 1.52 sam. 290 103.68 1.075 12/25/2023

INDICES CHANGE

MSE TOP 5 MOST TRADED

Trade value '000

MONGOLIAN RELATED NEWS

Tax exemptions considered for imports for projects financed by Austrian loans

At the Cabinet meeting held on December 10, the government resolved to submit a draft law forParliamentary discussion to exempt imports of equipment, facilities and supplies for projects beingimplemented through a soft loan from the Austrian government from Mongolian customs tax. Thegovernments of Mongolia and Austria established a financial cooperation agreement to implementseveral projects and programs, on November 28, 2011. Under the agreement, the Austrian

government agreed to grant a 40 million EUR soft loan to cooperatively implement several large scaleprojects in infrastructure, education, healthcare, and social protection. The agreement includes aclause to exempt the equipment, facilities and supplies to be imported within the scope of the projectsfrom Mongolian customs tax. The agreement also calls for financing a facilities and equipmentmodernization program for large state-owned hospitals, the introduction of new technology to upgradeUlaanbaatar’s water and sewer pipes without digging trenches, and a project to improve the capacity

of fire fighting facilities and the equipment of emergency management agencies. Also resolved at theCabinet meeting was the assignment of Ambassador Extraordinary and Plenipotentiary of Mongolia to

Austria G.Batjargal to sign an export credit agreement for the projects to be implemented in the scopeof the financial cooperation agreement. Providing the large state-owned hospitals, which have notundergone substantial modernization in recent years, with new facilities and diagnostic equipment isexpected to allow the hospitals to carry out cancer radiation therapy, organ transplantation andlaparoscopic surgeries, the diagnosis and treatment of cardiac catheters, and hemodialysis treatmentconforming to international standards.http://ubpost.mongolnews.mn/?p=12822

Mongolia Prime Minister Says He’ll Fix Conflict With Rio Tinto

Promising no more business as usual, Mongolia’s new Prime Minister Saikhanbileg Chimed said his

priority is to resolve a dispute with the country’s biggest foreign investor, Rio Tinto Group, overdeveloping one of the world’s largest copper and gold mines. In the midst of naming his new cabinet

this week, Saikhanbileg met with the chief executive officer of Rio’s copper division Jean-Sebastien

Jacques for what were described as highly constructive and collaborative talks, according to a personfamiliar with the discussions who asked not to be named because the meeting was private.Saikhanbileg has brought other parties into his cabinet in an attempt to forge what he’s called a

Grand Coalition government of national unity. He’s said he’ll focus on fixing an economy that went

from fast lane to braking hard, almost in lock step with the Rio conflict. The cabinet was announcedon Wednesday in an English-language e-mailed statement from Mongolia’s Ministry of Foreign

Affairs, a communication which is itself unusual and may indicate a fresh approach to foreigninvestors. That may be welcome news to Justin Kapla, a U.S. businessman prevented from leavingthe country for two years due to allegations of tax evasion. He hasn’t been charged or jailed, just told

he can’t leave. Jacques will meet with other ministers this week including Minister without Portfolio

Enkhsaikhan Mendsaikhan, the person said. Enkhsaikhan, a former prime minister, will have a role inadvancing large projects in the country. He declined to comment on any possible involvement innegotiations about the disputed mine, known as Oyu Tolgoi or Turquoise Hill. Between fighting withRio and detaining Kapla, Mongolia managed to scare off investment and then watched as its

economy went from fastest expansion in the world -- 17.5 percent in 2011 -- to also-ran -- 7 percentthrough the first nine months of 2014. Overseas investment in the country went from about $4 billionin the first 10 months of 2012 to $791 million in the same period this year. That cost the previousprime minister his job and gives Saikhanbileg a chance to convince the foreigners to come back.Getting the project moving again will require the signing of a Memorandum of Understandingdeclaring all past issues resolved. The prime minister said he’ll need to brief Parliament on his plan

and seek political backing from his government and that will take some time, ByambasaikhanBayanjargal, chairman of the Business Council of Mongolia, said on Dec. 10. “The fact that we have a

Grand Coalition now paves the way for a resolution, Byambasaikhan said. ‘‘You need everyone on

the same side of the table.’’

http://www.bloomberg.com/news/2014-12-12/mongolia-prime-minister-says-he-ll-fix-conflict-with-rio-

tinto.html

GLOBAL NEWS

Asian Stocks Sink as Oil Extends Drop While Aussie Slips

Asian stocks dropped as oil’s slump underscored concern over the global economy. Japanese bonds

climbed after Prime Minister Shinzo Abe secured victory in elections, while the Australian dollarretreated. The MSCI Asia Pacific Index slid 1 percent by 10:26 a.m. in Tokyo, set for its lowest closesince Oct. 17. Japan’s Topix index dropped 0.7 percent while shares in Hong Kong declined. The

Aussie slipped 0.5 percent in a third day of retreat.http://www.bloomberg.com/news/2014-12-14/asian-futures-signal-losses-after-crude-sinks-u-s-

2014-12-15

15 December 2 14

Daily Report

PerformanceLastCountryIndex

Indicator

PerformanceLast

USDCommodity

NEWS ANALYSIS

-7.87

4.25

11.42

0.80

-6.64

-3.29

-1.65

0.45

5.70

YTD %

-0.20

-1.79

-1.16

-1.25

-2.49

-0.84

-1.41

-2.72

-0.87

MSE - Top20

DJIA

Nasdaq

S&P/TSX comp

FTSE 100

S&P/ASX 200

Hang Seng

DAX

Nikkei 225

Change % (Day)

204

91

470

81

0 200 400 600

RMC

HBO

GOV

SHG

-1.43%

6.77%

0.00%

-5% 0% 5% 10%

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

20,000

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

J a n u a r y

- 1 3

F e

b r u a r y

- 1 3

M a r c h

- 1 3

A p r i l

- 1 3

M a y

- 1 3

J u n e

- 1 3

J u

l y - 1

3

A u g u s t

- 1 3

S e p

t e m

b e r

- 1 3

O c

t o b e r

- 1 3

N o v e m

b e r

- 1 3

D e c e m

b e r

- 1 3

J a n u a r y

- 1 4

F e

b r u a r y

- 1 4

M a r c h

- 1 4

A p r i l

- 1 4

M a y

- 1 4

J u n e

- 1 4

J u

l y - 1

4

A u g u s t

- 1 4

S e p

t e m

b e r

- 1 4

O c

t o b e r

- 1 4

N o v e m

b e r

- 1 4

D e c e m

b e r

- 1 4

T h o u s a n d s

Volume MSETOP Index

Daily Report | 2014.12.15

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15 December 2014 2

MONGOLIAN RELATED COMPANIES

Name Sym Currency Last Chg day % YTD %Trade value 000

USD

Market cap mln

USD/52w high 52w low

Currency

cross

Turquoise Hill TRQ US Equity USD 3.020 -2.89 -8.48 9,869.2 6,077.14 4.36 2.93 1.00

Centerra Gold CG CN Equity CAD 5.430 -1.45 25.69 7,809.3 1,109.00 6.90 3.16 1.16

MMC 975 HK Equity HKD 0.395 -1.25 -43.60 6.2 471.95 0.84 0.33 7.75

Denison Mines Corp DML CN Equity CAD 1.110 -0.89 -13.95 1,297.1 485.11 1.95 1.02 1.16

Winsway Coking Coal Holdings Ltd 1733 HK Equity HKD 0.290 0.00 -40.82 98.3 141.15 0.55 0.28 7.75

MoEnCo 276 HK Equity HKD 0.430 0.00 -55.76 186.4 93.69 1.06 0.41 7.75

SouthGobi Resources 1878 HK Equity HKD 3.750 -1.57 -45.49 3.0 105.82 8.06 3.60 7.75

Central Asia Metals PLC CAML LN Equity GBp 170.375 -1.66 20.83 23,192.2 298.11 190.00 141.00 0.64

Mongolia Investment Group Ltd 402 HK Equity HKD 0.200 -0.99 -31.03 16.5 172.89 0.38 0.16 7.75

Mongolia Growth Group YAK CN Equity CAD 1.090 -8.40 -51.98 63.2 32.82 3.07 0.93 1.16

North Asia Resources Holdings Ltd 61 HK Equity HKD 0.157 1.29 -13.74 1.9 122.22 0.21 0.10 7.75

Guildford Coal Ltd GUF AU Equity AUD 0.038 0.00 -54.14 9.6 28.65 0.11 0.04 1.22

Origo Partners PLC OPP LN Equity GBp 6.938 0.00 -5.93 163.5 38.89 8.25 6.88 0.64

Entree Gold Inc ETG CN Equity CAD 0.220 -12.00 -29.03 38.6 27.94 0.52 0.18 1.16

Aspire Mining Ltd AKM AU Equity AUD 0.033 3.13 -41.07 3.8 19.08 0.07 0.03 1.22

Prophecy Coal Corp PCY CN Equity CAD 0.060 0.00 -25.00 106.3 13.06 0.11 0.04 1.16

FeOre Ltd FEO AU Equity AUD 0.026 0.00 -36.59 1.2 11.30 0.08 0.02 1.22

Petro Matad Ltd MATD LN Equity GBp 2.250 -10.00 -40.00 1,156.4 9.88 11.50 2.00 0.64

Xanadu Mines Ltd XAM AU Equity AUD 0.095 0.00 90.00 16.1 29.15 0.18 0.03 1.22

Haranga Resources Ltd HAR AU Equity AUD 0.012 -14.29 -80.65 2.0 2.58 0.09 0.01 1.22

Wolf Petroleum Ltd WOF AU Equity AUD 0.048 -2.04 -31.43 21.7 10.64 0.08 0.03 1.22

Manas Petroleum Corp MNAP US Equity USD 0.115 -4.25 67.74 17.4 19.19 0.17 0.04 1.00

Khan Resources Inc. KRI CN Equity CAD 0.380 -9.52 33.33 1.3 22.37 0.45 0.20 1.16

Voyager Resources Ltd VOR AU Equity AUD 0.002 0.00 #N/A N/A 0.1 #VALUE! #N/A N/A #N/A N/A 1.22

East Asia Minerals Corp EAS CN Equity CAD 0.015 0.00 -62.50 0.9 1.36 0.11 0.01 1.22

Erdene Resource Development Corp ERD CN Equity CAD 0.085 0.00 -39.29 1.6 6.05 0.26 0.09 1.16

Modun Resources Ltd MOU AU Equity AUD 0.003 0.00 -25.00 7.4 4.37 0.01 0.00 1.22

Kincora Copper Ltd KCC CN Equity CAD 0.025 0.00 0.00 29.1 6.69 0.09 0.02 1.16

General Mining Corp Ltd GMM AU Equity AUD 0.007 0.00 -58.82 0.1 0.77 0.02 0.01 1.22

Draig Resources Ltd DRG AU Equity AUD 0.015 0.00 -57.14 0.6 0.82 0.04 0.01 1.22

Newera Resouces Ltd NRU AU Equity AUD 0.001 0.00 -83.33 0.1 1.00 0.01 0.00 1.22

Blina Minerals NL BDI AU Equity AUD 0.001 0.00 0.00 13.9 1.32 0.00 0.00 1.22

Source: Bloomberg

MONGOLIAN STOCK MARKET

14 December 2014 12 JSC's 21,022 shares worth 16,501.33 mln MNT have been traded.

TOP20 index was 15,019.11 -0.20% YTD -7.87%

Company name Trade volumeTrade value

'000Last Chg day Chg day %

Buy

volumeBuy price Sell price Sell volume

HRM 15,000 2,685 179 0 0.00% 5000 179 185 1000.00

APU 2,097 8,258 3938 38 0.00% 10 3650 3740 195

RMC 2,069 204 98.57 -1.43 -1.43% 3111 95 100 7451.00

HBO 1,050 91 86 29.17 6.77% 250 450 460 1686

GOV 200 470 2,350 0 0.00% 52 7400 7500 20

SHG 175 81 460 0 0.00% 3 6305 6310 100

ADL 159 743 4,675 -250 -13.51% 66 1600 2200 110

TTL 126 795 6,310 -15 -0.32% 19 4600 4650 25

GTB 100 750 7,500 1.39 1.64% 42 84 86 1900

BNG 20 1,160 58,000 0 0.00% 4 53000 58000 15

EER 20 857 42,840 0 0.00% 0 0 2350 127

ATR 6 408 68,000 0 0.00% 24 68000 75000 8

30 day graphic

Change day

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3

0

2014.09 2702.1

2013.06 7591

13606.65

3250

15 December 2014

DisclaimerThis document has been prepared by the investment banking division of Golomt Bank for information purpose only. The viewsexpressed are the views of the analyst and are subject to change based on market and other conditions and factors. Theinformation provided does not constitute investment advice or other recommendations and should not be relied on as such. Itshould not be considered a solicitation to buy or an offer to sell a security or to pursue any trading or investment strategy. All

material, including information sourced from or attributed to Golomt Bank, has been obtained from sources believed to bereliable, but its accuracy is not guaranteed. Past performance is no guarantee for future results. Accordingly you mustindependently determine, with your own advisors, the appropriateness for you of the securities/transactions before investingor transacting.

Investment Banking Division of Golomt Bank

The principal activities of Investment Banking Division constitute structuring, sourcing, negotiating and closing debt and equityfinancings as well as the provision of incisive advisory services for private and public companies as well as institutions, public sectoragencies and authorities.

Our vision is to fuel the profitable growth of our valued clients by providing the highest-quality investment banking services, and in sodoing create an environment which will lead to long term, mutually beneficial relationships. We strive to achieve these lastingrelationships by matching each client assignment with the collaborative expertise of the Bank’s team of seasoned banking andinvestment professionals.

Contact

Sukhbaatar Square, Ulaanbaatar 210620A, MongoliaFax: +976-70117676 /1402/E-mail: [email protected]: www.golomtbank.com

Documents

Daily Report 20141215