2014-11-26

Daily Report
Report
Daily
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NEWS & ANALYSIS

26 November 2014

2014.11.26
Performance

Index

Last

Country

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

Change %
(Day)

14,911.26
17,814.94
2,067.03
4,758.25
15,073.65
6,731.14
5,381.30
23,833.19
177.00

MN
US
US
US
CN
UK
US
HK
ASIA

YTD change %

0.41
-0.02
-0.12
0.07
0.39
0.02
0.87
-0.04
0.27

-8.53
7.47
11.83
13.93
10.66
-0.27
0.54
2.26
5.27

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)

140.22
2,267.00
80.09
6,653.00
73.73
1,199.30
16.65

YTD change %

0.00
-0.81

-26.50
10.42
-41.02
-9.80
-25.09
-0.19
-14.49

-1.14
-0.49
-0.14
-0.23

MONGOLIAN ECONOMIC INDICATORS

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

Date

Last

2014.07
2014.07
2014.10
2014.09
July 31 ,2014

9,857
6,635

YoY change
%
5.3
14.6
12.1
-42.4

1,542.7
12.00

DEBT MARKET

Amt.
Bonds - Coupon
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

Last

Yield

98.13
68.88
95.36
89.86
99.88
100.25
98.10
103.23

Maturity date

6.635
27.918
5.569
6.692
8.635
11.919
10.748
1.136

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
6.53

Nikkei 225
-0.30
DAX

3.24

0.77

2.26

-0.04

S&P/ASX 200

0.87

FTSE 100

-0.27

0.02

S&P/TSX comp

0.39

10.66

0.07

Nasdaq
DJIA

0.54

13.93

-0.02

MSE - Top20

7.47

Vehicle Towing Fees Now Set at 55,000 MNT

Metropolitan Traffic Police has announced a change to the rules for the towing of vehicles parked in
prohibited locations in the city. Starting today, drivers will now be required to pay 55,000 MNT for
vehicles towed from locations marked as no parking zones including the first lane of most city roads.
In the case of towed vehicles being transported more than 30 km by towing services, vehicle owners
will be charged an additional 1,700 MMT per km for the service. Towing of cars previously cost
drivers in violation of parking regulations 80,000 MNT.
http://english.news.mn/content/196547.shtml
GLOBAL NEWS
Asian Stocks Rise for Fourth Day as Materials Shares Lead Gains
Asian stocks rose, with the regional benchmark index heading for a fourth day of gains, as materials
and health-care shares advanced, countering a decline in Japans Topix (TPX) index amid a stronger
yen. The MSCI Asia Pacific Index (MXAP) added 0.1 percent to 140.90 as of 9:03 a.m. in Tokyo after
rising 1.1 percent the past three trading days. Japans Topix slid 0.3 percent as the yen gained 0.1
percent to 117.81 per dollar after advancing 0.3 percent yesterday. U.S. stocks slipped from a record
as a drop in consumer confidence offset faster economic expansion. South Koreas Kospi index
climbed 0.1 percent. Australias S&P/ASX 200 Index gained 0.9 percent, while New Zealands NZX
50 Index increased 0.3 percent. Futures on the Standard & Poors 500 Index were little changed
today. The measure declined 0.1 percent yesterday. Consumer confidence in the U.S. declined to a
five-month low in November, to a level that was weaker than the most pessimistic estimate in a
Bloomberg survey of economists. Gross domestic product rose at a 3.9 percent annualized rate in the
third quarter, up from an initial estimate of 3.5 percent. West Texas Intermediate crude reached the
lowest level in more than four years after nations supplying a third of the worlds oil failed to pledge
output cuts before tomorrows OPEC meeting. Futures on Hong Kongs Hang Seng Index and the
Hang Seng China Enterprises Index each lost 0.1 percent in their most recent trading session.

-8.53

0.41

Change % (Day)

Volume

YTD %

MSE TOP 5 MOST TRADED

Trade value '000

HGN

http://www.resourcegovernance.org/news/blog/greater-governance-stronger-rankings-mongoliarevisits-resource-governance-index

Thousands

Hang Seng

MONGOLIAN RELATED NEWS

Greater Governance, Stronger Rankings: Mongolia Revisits the Resource Governance Index
In 2013 the Natural Resource Governance Institute (NRGI) published its Resource Governance
Index, a ranking of countries where extractive resources play a considerable role in economic and
sustainable development. Of 58 countries, Mongolia ranked 26th, with a partial score of 51 out of
100. The countrys institutional and legal setting earned high marks, while its reporting practices
scored poorly. Despite its middle-of-the-road composite score, Mongolias state-owned enterprise
(SOE) earned a sub-score of 20 out of 100, worse than all but seven of the rankings 45 countries
with SOEs. Above all, a lack of transparency brought the sub-score down, the RGIs authors wrote.
Almost no information is available on the functioning of the company. It publishes no financial
reports, despite a legal obligation to do so, the report said. Since early this year, NRGI has worked
closely with Mongolias government to help it improve its RGI ranking and better manage its resource
revenues in a volatile commodities market. In February the Mining Ministry met with NRGIs Marie
Lintzer, Patrick Heller and Dorjdari Namkhaijantsan to review relevant studies on SOEs around the
world. Endowed with vast mineral deposits, Mongolia has several medium to large SOEs in its mining
sector. Some are remnants of Soviet times, while others are more recent establishments. With 15 socalled strategic deposits to date, the state can participate as an equity holder, but its level of
participation depends on whether deposits were discovered using state or private funds, according to
the countrys 2006 Minerals Law. A state holding company, Erdenes Mongol, oversees the
government's role in projects that develop and mine these deposits. These include five
minesErdenet (copper molydenium), Oyu Tolgoi (copper and gold), Baganuur (coal), Shivee Ovoo
(coal), and Tavan Tolgoi (coking coal)and their subsidiaries. In October, Erdenes Mongols
committed at an NRGI-led workshop for its board of directors to work to improve its overall RGI score
on SOE governance. Notable participants included Mr. Ch. Otgochuluu of Oyu Tolgoi and the Ministry
of Mining, Mr. G. Temuulen of Oyu Tolgoi, Mr. S. Behbat of the Ministry of Economic Development,
and Mr. O. Sainbuyan and Mr. S. Tselmeg, both of Erdenes Mongol. The company managers, who
plan to hold NRGI training workshops on a regular basis, have expressed a willingness to raise their
governance standards to the level of the best performing SOEs in the world. If they are to improve
their resource governance score before next year's new rankings are released, they must continue to
push for urgent and significant reform. Dorjdari Namkhaijantsan is NRGIs Mongolia country
coordinator. Fidan Bagirova is NRGIs Eurasia senior regional associate.

MSETOP Index

16,000

20,000

14,000

18,000
16,000

12,000

14,000

10,000

12,000

8,000

10,000

6,000

8,000

HBO

7.84%

550

6,000

4,000

4,000

2,000
-9.72%

-10%

-5%

0%

5%

10%

June-14

May-14

April-14

March-14

January-14

October-13

August-13

July-13

June-13

February-14

-15%

May-13

0.00%

December-13

1,000

November-13

500

September-13

April-13

816

0
March-13

ATR

2,000

0
January-13

127

February-13

BAN

26 November 2014

MONGOLIAN RELATED COMPANIES

Name

Sym

Currency

Last

30 day graphic

Chg day %

YTD %

Trade value 000 Market cap mln

USD
USD/

52w high

52w low

Currency
cross

Turquoise Hill

TRQ US Equity

USD

3.570

2.59

8.18

15,823.8

7,183.91

4.36

2.93

1.00

Centerra Gold

CG CN Equity

CAD

5.790

0.70

34.03

6,773.0

1,214.95

6.90

2.98

1.13

MMC

975 HK Equity

HKD

0.445

9.07

-56.80

53.1

531.53

1.33

0.45

7.75

Denison Mines Corp

DML CN Equity

CAD

1.250

-0.79

-3.10

1,493.1

561.13

1.95

1.02

1.13

Winsway Coking Coal Holdings Ltd

1733 HK Equity

HKD

0.335

0.00

-31.63

79.1

163.00

0.58

0.31

7.75

276 HK Equity

HKD

0.173

0.00

#N/A N/A

302.4

#VALUE!

#N/A N/A

#N/A N/A

7.75

1878 HK Equity

HKD

3.860

0.00

-43.90

45.2

96.76

9.20

3.78

7.75

CAML LN Equity

GBp

160.000

-0.31

13.48

479.2

279.91

190.00

141.00

0.64

402 HK Equity

HKD

0.290

1.75

0.00

11.2

250.62

0.38

0.16

7.75

YAK CN Equity

CAD

1.150

0.88

-49.34

59.3

35.57

3.07

1.12

1.13

61 HK Equity

HKD

0.157

0.00

-13.74

61.6

122.18

0.21

0.10

7.75

Guildford Coal Ltd

GUF AU Equity

AUD

0.046

2.22

-44.49

3.6

36.06

0.11

0.04

1.17

Origo Partners PLC

OPP LN Equity

GBp

7.188

0.00

-2.54

0.0

40.29

8.25

6.63

0.64

Entree Gold Inc

ETG CN Equity

CAD

0.250

4.17

-19.35

2.6

32.62

0.52

0.21

1.13

Aspire Mining Ltd

AKM AU Equity

AUD

0.038

0.00

-32.14

13.9

22.84

0.07

0.03

1.17

Prophecy Coal Corp

PCY CN Equity

CAD

0.060

0.00

-25.00

2.1

13.41

0.11

0.04

1.13

FeOre Ltd

FEO AU Equity

AUD

0.025

0.00

-39.02

0.6

11.30

0.08

0.03

1.17

MATD LN Equity

GBp

3.000

9.09

-20.00

594.2

13.18

11.50

2.00

0.64

Xanadu Mines Ltd

XAM AU Equity

AUD

0.120

0.00

140.00

0.1

24.97

0.18

0.03

1.17

Haranga Resources Ltd

HAR AU Equity

AUD

0.017

0.00

-72.58

0.8

3.51

0.09

0.01

1.17

Wolf Petroleum Ltd

WOF AU Equity

AUD

0.045

0.00

-35.71

9.0

11.31

0.09

0.03

1.17

MNAP US Equity

USD

0.100

33.16

45.99

49.2

16.70

0.17

0.04

1.00

KRI CN Equity

CAD

0.420

5.00

47.37

47.4

25.40

0.45

0.18

1.13

Voyager Resources Ltd

VOR AU Equity

AUD

0.001

0.00

-75.00

0.2

1.49

0.01

0.00

1.17

East Asia Minerals Corp

EAS CN Equity

CAD

0.015

0.00

-62.50

2.3

1.41

0.11

0.02

1.17

Erdene Resource Development Corp

ERD CN Equity

CAD

0.105

-4.55

-25.00

0.2

7.13

0.26

0.08

1.13

Modun Resources Ltd

MOU AU Equity

AUD

0.003

0.00

-25.00

27.8

4.55

0.01

0.00

1.17

Kincora Copper Ltd

KCC CN Equity

CAD

0.020

-20.00

-20.00

0.2

5.50

0.09

0.02

1.13

General Mining Corp Ltd

GMM AU Equity

AUD

0.007

0.00

-58.82

0.2

0.80

0.02

0.01

1.17

Draig Resources Ltd

DRG AU Equity

AUD

0.018

0.00

-48.57

2.8

1.02

0.04

0.01

1.17

Newera Resouces Ltd

NRU AU Equity

AUD

0.001

0.00

-83.33

1.3

1.01

0.01

0.00

1.17

BDI AU Equity

AUD

0.001

-33.33

0.00

0.0

1.27

0.00

0.00

1.17

MoEnCo
SouthGobi Resources
Central Asia Metals PLC
Mongolia Investment Group Ltd
Mongolia Growth Group
North Asia Resources Holdings Ltd

Petro Matad Ltd

Manas Petroleum Corp

Khan Resources Inc.

Blina Minerals NL

Source: Bloomberg
MONGOLIAN STOCK MARKET
23 November 2014

21

JSC's

TOP20 index

was

14,911.26

Company name

Trade volume

Trade value
'000

12,570

shares

worth

Change day

Last

Chg day

Chg day %

29.29

mln

MNT

0.41%

YTD

-8.53%

Buy
volume

Buy price

Sell price

have

Sell volume

ADL

1799

99

5.82%

20

1602

1799

APU

60

219

3650

0.00%

3610

3650

392

ATR

12

816

68000

0.00%

68000

BAN

39

127

3250

-350

-9.72%

63

3250

3500

20

HBO

1,000

550

550

40

7.84%

250

370

550

2000

HGN

10

112

6.67%

285

105

112

314

HRM

8,450

1,269

150.13

-25

-14.21%

2320

151

184

150

JTB

10

86

1.96%

4333

84

86

1770

MCH

62

77

1240

-30

-2.36%

38

1200

1457

10

NKT

10

319

19

6.33%

172

280

319

90

OLL

10

111

0.00%

1500

95

111

11892

RMC

10

100

0.00%

2312

95

100

20030

SHG

93

586

6305

505

8.71%

5815

6310

44

SHV

46

248

5400

-300

-5.26%

20

5300

5400

19

TTL

102

469

4600

0.00%

140

3910

4600

148

UID

298

167

560

-10

-1.75%

1235

560

600

654

BHL

300

210

700

-50

-6.67%

785

10

ETR

10

100

0.00%

500

89

100

6151

MIE

1,400

17100

100

0.59%

24

17000

17500

41

MMX

146

3750

-50

-1.32%

10

3700

3850

160

MRX

500

99

0.00%

99

4240

been

traded.

26 November 2014

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
2013.06
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
1799 for you of the securities/transactions before investing
independently determine, with your own advisors, the appropriateness
or transacting.