Thursday, July 22, 2010

[cpsnewswire] [CPS NewsWire, Thursday, July 22, 2010]

Asia Pacific Investment Partners Completes US$4 Million Convertible Note Offering


ULAANBAATAR, Mongolia, July 21 /PRNewswire/ -- Hong Kong based Asia Pacific Investment Partners Limited (APIP, one of Mongolia's leading investment operating companies, recently completed a convertible note raising approximately US$4 million, according to Mr. Lee Cashell, Managing Partner of APIP.  The round was led by a Singapore based hedge fund and also included a number of other private and institutional investors.


Founded in 2001, APIP holds market-leading positions in Mongolia's real estate development, cement, and mining industries. APIP also has interests in transportation, luxury development, and infrastructure development, and owns Altan San Securities (, one of the country's major stock broking firms with a seat on the small but rapidly developing Mongolian Stock Exchange.


"The majority of the financing raised in the recent round will be allocated towards rapid capacity expansion of Central Asian Cement (CAC) (Mogi: CAC is the 3rd largest cement producer in Mongolia, conveniently located close to UB) and will be used to develop CAC's own clinker production facility as part of the company's vertical integration strategy. Additional funds will be used towards further exploration of the company's recent discovery of a large body of iron ore in a region bordering close to China," commented Cashell.  


"The boom in foreign direct investment experienced by Mongolia over the past few years is slated to grow exponentially as the development of Oyu Tolgoi, one of the largest copper mines in the world, gets underway," he added.  Oyu Tolgoi, which is targeted to begin production in 2013, is expected to create a multiplier effect across many different sectors of the Mongolian economy, increasing demand for housing, real estate services, construction, and cement, some of APIP's core businesses.


"It will be key to solidify our market share in Mongolia as foreign investment increases," noted Cashell.


The company is planning an additional capital raising exercise of USD30 million later this year as a precursor to seeking listing on a suitable exchange.


Link to article




Prophecy Resource Corp. Joins OTCQX


NEW YORK, July 21, 2010 /PRNewswire via COMTEX/ -- Pink OTC Markets Inc. (OTCQX: PINK), the financial information and technology services company that operates the leading electronic quotation and trading system in the U.S. OTC securities market, today announced that Prophecy Resource Corp. (OTCQX: PRPCF, TSX.V: PCY), a Canadian resource company, is now trading on the OTC market's highest tier, OTCQX(R).


Prophecy Resource began trading today on the OTC market's prestigious tier, OTCQX International.

The Company's common shares have also been accepted for continuously trading on the electronic trading platform Xetra(R) in Germany under the ticker symbol "1P2.DE". The International Security Identification Number (ISIN) number is (ISIN: CA74345B1040).

Link to article




Russia's En+Group, Renova want to develop Mongolian coal deposit – govt


July 21 (RIA Novosti) Russian Transport Minister Igor Levitin confirmed on Wednesday that the Russian companies En+Group and Renova Group are interested in developing Mongolia's Tavan-Tolgoi deposit, together with Russian Railways (RZhD).

The Mongolian government wants to privatize Erdenes-Tavantolgoi company, the Tavan-Tolgoi developer, by selling 30 percent to foreign investors (Mogi: Actually it is up to 30% that will be IPO-ed), 10 percent to households (Mogi: 10% is to be distributed to citizens for free actually) and a further 10 percent to Mongolian businessmen at a nominal value. Half of the shares will stay with the government.

In 2009, the Mongolian government transferred 50 percent of Ulan-Bator Railway (UBR) shares to RZhD for a five-year trust management. UBR's priority project is the construction of a 1,100 kilometer railway link between Tavan-Tolgoi and the Russian border.


Levitin said that the railroad would help transfer coal from the deposit to Russia's sea ports in the Far East.

Link to article




Russian Railways meets obligations in Ulan-Bator Railway development work


July 21 ( Russian Railways Vice President Vadim Morozov said in his speech that the Mongolian government’s decision in 2009 to transfer a stake in Ulan Bator Railway to the beneficial ownership of Russian Railways represented an important step in work to improve the efficiency of Ulan Bator Railway.


Russian Railways rigorously fulfills all its obligations in terms of technical support for the Ulan Bator Railway. At the end of 2009, Russian and Mongolian specialists finished work ahead of schedule on laying 108 km of continuous welded rail track on the Mandal – Davaany line, which will allow train speeds to be increased to 120 km/h”, Vadim Morozov said.

“As a result of efforts to stabilize the financial situation of Ulan Bator Railway, we achieved significant positive results for the first time in the first half of 2010. By increasing freight flows by 20% and passenger turnover by 16.8% in this period, year-on-year, the company managed to generate a profit of 4.3 million dollars. The goal now is to develop this trend, and to end 2010 with a net profit”, Vadim Morozov said.

The Russian Railways vice president said that in line with the strategy, investment in the modernization of the existing Ulan Bator Railway network is estimated at 1.7 billion dollars, along with 1.8 billion dollars for the construction of a new rail line to the Tavan Tolgoi coal mine, and $500 million dollars for the modernization and purchase of rolling stock up to 2015.


The scheme for creating the Infrastructure Development company’s equity capital, with the contribution of Russian Railways financial resources and the granting by Mongolia of rights to develop the mine, (Mogi: interesting when it says Mongolia’s granting of rights to develop TT to Russian Railways) will enable an integrated approach to railway infrastructure and mining development. Analysts from Boston Consulting Group, along with several other international experts, have recognized this scheme to be effective.

Link to article




Russia's Ilyushin Finance ready to supply An-148 planes to Mongolia


MOSCOW, July 21 (RIA Novosti) Russian leasing company Ilyushin Finance is ready to discuss the supply of An-148 regional jets with Mongolian companies, Russian Transport Minister Igor Levitin said.


The company is also ready to supply modern air navigation systems to Mongolian airports, he said.


The basic An-148 variant is designed to carry 70-90 passengers up to 5,000 kilometers. It is produced at the Ukrainian Antonov design bureau in Ukraine and in the western Russian city of Voronezh at a cost of around $20 million per plane.


Ilyushin Finance company is a subsidiary of Russia's United Aircraft Corporation


Link to article




NLD urges Canada to probe Ivanhoe over sanctions, driver


July 22 (Mizzima) A National League for Democracy member of parliament elected in Burma’s annulled 1990 election and labour minister in Burma’s exiled government, the National Coalition Government for the Union of Burma, has formally asked the Canadian government to investigate Canadian firm Ivanhoe Mines for violating Ottawa’s sanctions against Burma. 

The Vancouver-based mining company led by controversial chairman Robert Friedland stands accused by advocacy group, the Canadian Friends of Burma, of secretly selling its 50 per cent stake in the joint venture that operated Burma’s Monywa copper mine to cronies of the Burmese regime linked to Chinese weapon’s firm Nornico and mining giant Chinalco.

If Ivanhoe’s 50 per cent stake in MICCL was indeed sold or given to cronies of the junta this would violate Canadian sanctions against Burma. Canada’s financial and investment restrictions targeting Senior General Than Shwe’s regime were significantly strengthened following the crushing of the September 2007 popular uprising led by Burmese monks.

Ivanhoe’s controversial Mongolian mine boosted by Canadian state support

Ivanhoe Mines reported on Monday that Canada’s state-owned international financing agency, Export Development Canada, had agreed to provide vital low-interest loans for Ivanhoe’s deeply contentious Mongolian Copper/Gold Project at Oyu Tolgoi. The massive project launched in partnership the Anglo-Australian firm Rio Tinto will reportedly be one of the world’s largest mines and has been strongly opposed by a large segment of the Mongolian population.


Tin Maung Htoo said he strongly opposed Ivanhoe Mines receiving Canadian government support while serious questions regarding its Burmese mine remained unanswered. “Ivanhoe Mines does not deserve to have their operations in Mongolia subsidised by the Canadian taxpayer at a time when the firm refuses to tell the truth about the ownership of its stake in Monywa and the circumstances surrounding the illegal arrest of their Burmese driver Ko Thet Lwin at Suu Kyi’s residence.

In April 2006, Ivanhoe chairman Robert Friedland was burned in effigy at a protest against Ivanhoe Mines in the Mongolian capital, one of the largest protests in the nation’s history. 


Link to article




MEC Chairman’s Beach House Targeted in Save Tai Long Beach Campaign


July 22 (Global Voices) Many people have the impression that Hong Kong is a concrete forest high rise buildings. However, actually 75% of the land in this global city is undeveloped country side. Such landscape is an unintended result of the colonial history, when after the WWII, the British government tried to sustain the water supply of the city by building a number of reservoirs in countryside.

… However, on July 16 a local newspapers, South China Morning Post, exposed that a large private residence was under construction in the upper Sai Wan Village directly behind the beach. The person behind the construction project is local businessman Simon Lo Lin-shing, chairman of Mongolia Energy Corporation.

Link to article




Fund to help the poor as it reaps rich returns


July 22 (FT) BlueOrchard, the largest private sector investor in microfinance loans, has raised $195m for a type of private equity fund that will buy minority stakes in microfinance lenders to finance their expansion and modernisation.


Hailed as a way for investors to make attractive returns while lifting people out of poverty by lending them small sums of money for their businesses, microfinance has become a $44bn market, according to the Microfinance Information Exchange.

Its investments include Asmitha Microfina in India, which has lent $315m to more than 1.1m women; Banco FIE in Bolivia, which has lent $320m to 260,000 clients; and XAC Bank in Mongolia, which has a $160m loans portfolio.

Link to article




Nuinsco and Ocean Partners Acquire Debt of Campbell Resources



About Ocean Partners


Ocean Partners is a privately held company with offices in the UK, USA, Canada, China, Mongolia, South Africa, Turkey and Zambia with additional representation by agents in Istanbul, Lima, Madrid, Melbourne, Moscow, New Delhi, Santiago and Tokyo.

Link to article






Shares pulled lower by banks


July 22 (AAP) The Australian share market closed at its lows for the day as investors shed financial stocks ahead of key stress test reports on European banks.


The benchmark S&P/ASX200 Index ended the day down 38 points, or 09 per cent, at 4374.7 points, while the broader All Ordinaries Index lost 33.9 points, or 0.8 per cent, to 4394.8 points.

What you need to know:


·         The Australian dollar was buying 87.7 US cents

·         Asian shares retreat on Bernanke comments 

·         Spot gold eased to $US1183 an ounce

·         Oil was hovering at $US76 a barrel

·         Dow futures were off 2 points to 10056

CMC Markets senior dealer Matt Lewis said the financial sector was a standout in negative terms.

‘‘There’s persistent chatter in the market that offshore funds are really building up short positions in all the big four banks over concern about exposure to the Australian property sector,’’ he said.

There appeared to be a belief that the Australian property bubble would be the last bubble to burst.

‘‘But, overall, it’s another quiet day in the market. Too much and too many variables keeping people on the sidelines,’’ Mr Lewis said.

Banks tank

Among the major banks, National Australia Bank fell 44 cents to $23.76, Westpac sank 37 cents to $22.15, ANZ lost 39 cents to $22.10 and Commonwealth Bank gave up $1.23 to $49.92.

Among resource stocks, BHP Billiton firmed 13 cents to $38.88 and Rio Tinto picked up 43 cents at $68.23.

The price of gold at 1629 AEST was $US1181.40 per fine ounce, down $US8.08 on Wednesday's close of $US1,189.48.

The top-traded stock by volume and the biggest mover on the market was Rox Resources, with 113.7 million shares worth $4.36 million changing hands.

Rox shares were up 2.3 cents, or 135.29 per cent, at four cents.


Rox announced on Wednesday a deal by which a Rio Tinto subsidiary, North Mining, became its largest shareholder, in return for abandoning an obligation to pay North a cash payment from its Myrtle zinc deposit in the Northern Territory.

Preliminary market turnover was 1.96 billion shares worth $4.21 billion, with 581 stocks down, 395 up and 350 unchanged.

On the
Sydney Futures Exchange, the September share price index futures contract was 51 points lower at 4,347 points, with 24,434 contracts traded.


Link to article






Asian Stocks Decline as Bernanke Comments Fuel Growth Concern


July 22 (Bloomberg) -- Asian stocks fell, dragging the MSCI Asia Pacific Index lower for the first time in three days, after Federal Reserve Chairman Ben S. Bernanke said the U.S. economic outlook remains “unusually uncertain.”

The MSCI Asia Pacific Index fell 0.2 percent to 115.39 as of 3:55 p.m. in Tokyo, after rising 0.3 percent in the past two days. The gauge has slumped 11 percent from this year’s high on April 15 as Europe’s debt crisis and China’s steps to curb property prices fueled concern that global economic growth will slow. Speculation the U.S. economy will contract intensified as reports pointed to a retreat in manufacturing and home sales.


“People in the market are anxious about the future of the global economy, making them unwilling to take on risk,” said Hisakazu Amano, who helps oversee about $18 billion in Tokyo at T&D Asset Management Co. “Liquidity is drying up, making prices more volatile and adding to investors’ sense of insecurity.”


Japan’s Nikkei 225 Stock Average lost 0.6 percent, while Australia’s S&P/ASX 200 Index slid 0.9 percent. New Zealand’s NZX 50 Index sank 0.7 percent. South Korea’s Kospi declined 0.8 percent. The Shanghai Composite Index advanced 1 percent as brokerage upgrades boosted property companies and steelmakers.

Further Action


Futures on the Standard & Poor’s 500 Index rose 0.2 percent. The index dropped 1.3 percent yesterday after Bernanke told the Senate Banking Committee that Fed officials “recognize that the economic outlook remains unusually uncertain.”

“Bernanke’s comments reinforced concerns the U.S. economy is slowing,” said Yoshinori  Nagano, a senior strategist in Tokyo at Daiwa Asset Management Co., which oversees about $104 billion. “Today’s trading reflects investors’ disappointment.”


U.S. Economy


Economic data from the U.S. this month have fueled concerns the world’s biggest economy is stalling. Sales at U.S. retailers declined in June for a second month, the Commerce Department reported on July 14. Home-builder confidence dropped this month to the lowest level since April 2009, National Association of Home Builders/Wells Fargo data on July 19 showed.

Stress Tests


European lenders must disclose their gross and net exposure to central and local governments in 30 countries in the region, including Greece, Spain, Ireland, Italy and Portugal, according to a confidential draft template obtained by Bloomberg News.

Link to article




Bernanke says Fed to act if U.S. recovery stalls


July 21 (Reuters) - The Federal Reserve stands ready to ease monetary policy further if the budding U.S. economic recovery withers, Fed Chairman Ben Bernanke said on Wednesday, describing the outlook as "unusually uncertain."

Link to article




Retail sales get World Cup boost in June


July 22 (Reuters) - Retail sales volumes received a World Cup boost in June after strong sales of electrical goods drove a faster-than-expected 0.7 percent monthly rise, official data showed on Thursday.

Link to article




10 'Buy'-Rated Stocks Without Buyers


July 20 (CNBC) Apple, Citigroup and Ford, are tirelessly touted by the media and fund managers. Yet, analysts favor lesser-followed companies.


Here are 10 large-cap stocks, all S&P 500 members, that receive rave reviews from analysts but get little attention from investors. The stocks are ordered by the share of "buy" ratings received, from bullish to most-bullish sentiment.


10. AES, 9. Public Service Enterprise Group, 8. ACE Limited, 7. Flowserve, 6. Peabody Energy, 5. Halliburton, 4. Life Technologies, 3. Republic Services, 2. CMS Energy, 1. MasterCard


Link to article






Sumo champ Asashoryu starts MMA camp


July 21 (USA Today) Retired sumo star Asashoryu might be serious about mixed martial arts, after all.


An official with World Victory Road says Asashoryu has started an MMA team for athletes from his native country of Mongolia, according to the Nightmare of Battle. World Victory Road runs Sengoku Raiden Championships, one of Japan's two leading MMA brands along with K-1's Dream organization.

Link to article



Nat Geo Crowdsourcing Archaeological Survey of Mongolia’s Sacred Lands


The PR headline: Imagine an expedition with a field staff of 10,000. How about 100,000? It’s possible!

So far about 4,000 individuals have participated, processing 190,000 satellite images. I thought the effort might use Mechanical Turk to divvy up the tasks. Nope. "Dr. Albert Lin, the primary researcher on the ground, invented the technology that makes this method of archaeology crowdsourcing a reality."


Link to article




Sumo Fans Shrug Off a Scandal


At Tournament in Nagoya, Gambling Bans Can't Quell Full-Throated Support for the Wrestlers


Nagoya, Japan, July 22 (WSJ) This year's Nagoya Grand Sumo Tournament, one of the top events on the sport's calendar, ends this Sunday after two weeks. Not that most people in Japan would notice. Big corporate sponsors have pulled out and Japan's public broadcaster isn't televising the event live, all because of a gambling scandal involving many top wrestlers.


But inside the cramped, sweaty arena that's housing the tournament, fans of the 1,500-year-old sport are unbowed. They erupt into cheers as a steady stream of hulking sumo wrestlers swaggers in. They hold up their cellphones and digital cameras, snapping away. "Baruto!" they scream, as Estonian-born wrestler Baruto Kaito strides by, the faintest of smiles playing at the corners of his mouth.

Link to article




"Mogi" Munkhdul Badral

CPS International


Mobile: +976-99996779

CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based ASX Licensed Financial Services Company. To trade ASX stocks, feel free to contact me at or +976-9999-6779.




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