Tuesday, June 21, 2011

[cpsinewswire] [CPSI NewsWire: MGG Receives Insurace License]

CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at or +976-99996779.

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Close: Mongolia Related ASX Listed Companies, June 20, 2011



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Mongolia Growth Group Ltd. Announces Insurance License

Calgary, Alberta CANADA, Jun 20, 2011 (Filing Services Canada via COMTEX) -- Mongolia Growth Group Ltd. (YAK - CNSX),("MGG" or "the Company") is pleased to announce the receipt of an insurance license from FRC (Financial Regulatory Commission) allowing the Company to underwrite property and casualty insurance in Mongolia. The newly formed insurance company will be named "Mandal General."

"I want to thank everyone who helped us on the application process. In particular, I want to thank FRC for their help in expediting our license request," said Mrs. M. Davaanyam, CEO of Mandal General. "We recognize the responsibility of insuring others and feel confident in our ability to live up to the high expectations set by FRC."

"We have an aggressive roll out plan that has been pushed forward by the early receipt of our insurance license," said U. Ganzorig, President of Mandal General. "Our recruitment efforts continue and we currently have 17 employees dedicated to insurance. Within days we will begin our marketing program with the goal of underwriting our first policy by July 1st, 2011. I want future policy holders to know that we will soon have 6 billion Mongolian Togrog of equity capital making us the best capitalized insurance company in Mongolia. Our conservative underwriting policy and use of re-insurance ensures that we will be able to pay all legitimate claims. We look forward to your business."

Link to release


Mongolia PM Says Decision on Tavan Tolgoi `Very Close': Video

June 20 (Bloomberg) -- Mongolian Prime Minister Sukhbaatar Batbold talks about exploiting his country's natural resources.

Aside from its main exports of coal and copper, Mongolia has oil, potash, iron ore and uranium resources, as well as rare earths used in electronics, wind turbines and smart bombs. Mongolia is opening up its resource riches to mining as prices for coal surge on demand from Asian steelmakers. The nation is seeking to develop the Tavan Tolgoi coal basin, which is one of the world’s largest unexploited reserves of coking coal, a key material in making steel. Batbold spoke on June 17 in Beijing with Bloomberg's Stephen Engle. (Source: Bloomberg)

00:00 Distribution of mineral resources wealth 02:29 Development of Tavan Tolgoi coal basin

Running time 03:39

Link to interview intro

Link to video



June 20, Aspire Mining Limited (ASX:AKM) --

Mongolian-focused coking coal explorer Aspire Mining Limited (ASX: AKM, Aspire) is pleased to announce the appointments of Mr Andrew Edwards and Mr Mark Read as NonExecutive Directors of the Company, effective 1 July, 2011.

Mr Edwards is a recently retired senior partner with PricewaterhouseCoopers (“PwC”). Mr Edwards had a distinguished career with PwC spanning 35 years in Perth, Auckland and Sydney. He served as Managing Partner of the Perth practice for five years and led the Perth Advisory business. Mr Edwards is a past National Vice President of the Financial Services Institute of Australasia (formerly Securities Institute of Australia) and past President of the Western Australian division of that Institute.

He currently serves as a Non-Executive Director of Mermaid Marine Australia Ltd, Nido Petroleum Ltd and is Non-Executive Chairman of MACA Ltd. He is also a past director of Calibre Global Pty Ltd.

Mr Read is the immediate past CEO and Managing Director of ASX listed coal engineering and technology company Sedgman Ltd. While at Sedgman, Mr Read was responsible for an overseas expansion strategy that led Sedgman to position itself in emerging high-grade coal regions including Mongolia and Mozambique. Prior to his appointment as chief of Sedgman, Mr Read was General Manager of Mining and Metals and Executive Director of engineering services firm Sinclair Knight Merz, where he was employed for 20 years.

Aspire also announces the resignation from the Board of Mr Russell Lynton-Brown. Mr LyntonBrown has served as a Non-Executive Director of Aspire since 2006 and was involved in Aspire’s acquisition of the company’s flagship Ovoot Coking Coal Project. The Aspire Board thanked Mr Lynton-Brown for his significant contribution to the Company and wished him well in his future endeavours.

Aspire Chairman, Mr David McSweeney said the change in the Board’s composition was a natural evolution for the Company: “We welcome the appointments of Andrew Edwards and Mark Read to the Aspire Board. Both are leaders in their respective fields and bring a wealth of knowledge and expertise to the Company, which will help guide us through our next exciting growth phase as we move from an explorer to a mining company.”

“I and the rest of the Aspire Board sincerely thank Russell for his involvement in the Company’s significant development over the last five years,” he said.

Link to release


S3 Investment Company Announces Name Change to Redwood Group International and New Stock Trading Symbol -- RDWD

May 9, 2011 (GlobeNewswire) -- DANVILLE, Calif., May 9, 2011 (GLOBE NEWSWIRE) -- Redwood Group International (Pink Sheets:RDWD) has completed its name change from S3 Investment Company and has been assigned its new stock trading symbol, RDWD, effective at the open of trading today. 

"This name and symbol change is an important milestone for the company, since the Redwood brand has been gaining profile through the activities of its subsidiaries operating in Asia," commented Redwood Group International Chairman and CEO Jim Bickel. "The S3 name was a remnant of the company's past and was not reflective of the company's current operations. We believe that it will now be much easier to articulate the Redwood story to the investment community as well as to the markets where the company's subsidiaries operate. Redwood has expanded the number of companies in its subsidiary structure, and we expect that all of them will be revenue generating businesses that contribute to the public company's value. On the public company side, our goal will be to communicate the progress of our Redwood subsidiaries to current shareholders and potential investors."

The name change was undertaken in order to more closely associate the company with its multiple Redwood subsidiaries operating in the Asia market. The company's subsidiary structure has expanded over recent months with formation of the Redwood Asia Private Equity Fund and the acquisition of a broker-dealer, now named Redwood Securities. These entities join Redwood Capital, Redwood Medical and others that will be formed or acquired in the future as subsidiaries of Redwood Group International.

Redwood Group International has already transitioned its website to and intends to significantly expand its Internet presence with fully developed websites for each of its subsidiaries. 

Redwood Capital recently announced the completion of the acquisition transaction, ASX listing and a $10 million Public Offering capital raise for Redwood Capital client Mongolian Resource Corporation (MRC). Redwood Capital acted as the Asian merchant banking financial advisor for MRC. In exchange for its services, Redwood Capital receives cash, stock and options in the client company.     

Link to release


{BLOCK TRADE} Winsway (01733): 15.00m shrs for HK$45.15m

June 20 (ETNet) Winsway (01733) has recorded a block trade deal for a total of 15.00 million shares at 3:20pm this afternoon. 

The shares were sold at HK$3.01 apiece. 

The deal amounted to HK$45.15 million in total. (tt)

Link to article


S.Ganbaatar re-elected unopposed

June 20 ( The 230 delegates from the capital and the countryside at the 23rd regular meeting of the Confederation of Trade Unions between June 14 and 16 reelected S.Ganbaatar as President for a fresh 4-year term. There was no other candidate.

The meeting reviewed CTU activities and discussed future plans.

Link to article




June 20 (M.A.D., source: East Asia Forum) Your immediate impression is likely to be one of chaos. This is especially true at any intersection where police are not present to control traffic – and drivers are thus expected to follow traffic rules on their own. At such intersections, vehicles are typically gridlocked as drivers fight inch-by-inch to get to the other side, seemingly oblivious to the traffic signals above them.

Your second reaction is likely to be fear – either because of the cars flying towards you on the wrong side of the road or because of the number of drivers who apparently conflate red with green. As you watch more closely, you may sense that some drivers – typically those in luxury cars with special license plates – are ‘more equal than others.’ These vehicles, usually occupied by politicians, government officials, or other Ulaanbaatar elites, cut others off with impunity and are free to disregard traffic rules even in the presence of police officers (whose directions they are also apparently free to ignore).

While the above description might fit any number of developing countries, it’s also an apt metaphor for ‘rule-of-law’ in Mongolia. First, a ‘rule-of-law culture’ has not taken hold. Laws are routinely flaunted unless enforced by some immediate positive authority.  Second, the higher one’s position or status, the less one is bound by the law.

These messages are conveyed in many other ways as well, including the illegal and disorderly construction of luxury apartment buildings south of the city in Zaisan, part of the Bogd Khan National Park, in open and blatant disregard of a law barring construction of such structures there. Indeed, development in Zaisan stands as a highly visible symbol of corruption and the impotency of the law – a point underscored not only by the fact that many high-ranking government officials now call Zaisan home, but also by the irony of the Constitutional Court itself having moved to a new building there.

But what has happened in Zaisan, or what happens daily on Ulaanbaatar’s roads, is not exceptional. The same open disregard for the law is a defining characteristic of post-transition Mongolia – and corruption seems to permeate every level of Mongolian society.

This is not to say that no one follows the law. To the contrary, most Mongolians do stop at traffic lights and don’t go barreling down the wrong side of the road. Moreover, most Mongolians would prefer a society with less corruption, where the law was applied democratically. But Mongolians must survive in the society in which they live – and this frequently means disregarding the law.

Those in Mongolia who most resist the rule-of-law are those who benefit most from its absence. In this light, the chaos of Ulaanbaatar’s roads seems less a product of a developing society, than a product of design. A chaotic and lawless society facilitates the goals of the corrupt elite by normalizing their behavior. Moreover, because traffic affects the lives of every Mongolian city-dweller on a daily basis, it’s where they learn their primary lessons about the role of the law in society. These lessons don’t bode well if the goal is to develop (or regain) respect for the law.

For this reason, however, beginning by addressing the lawlessness on Ulaanbaatar roads would offer an opportunity to teach different lessons about the rule of law and to develop a rule of law culture. For example, it might offer lessons about the utility of law (reduced traffic accidents, congestion, and commute times) that go beyond positivist rationales for obeying the law. Moreover, it might begin the process of inculcating ‘habits of obedience’ to the law in a society were disregard for the law has become a norm. Finally, were traffic rules enforced evenhandedly, it might also teach the important lesson that no one stands above the law. Indeed, if the Mongolian elite were forced to follow even traffic laws, then perhaps it wouldn’t seem so unreasonable to expect that they follow other laws as well – and that public officials carry out their duties without corruption.

Unfortunately, because lawlessness and chaos benefit the corrupt elite, there is little chance that they will address it (on the roads or elsewhere) – especially not now in the new age of Minegolia. Lest the West point its finger, it bears remembering that the current political, legal, and economic system in Mongolia was put in place with the assistance – and insistence – of the international donor community. Whether one agrees that endemic corruption in post-transition Mongolia is a direct product of these reforms, it’s at least powerful evidence of their failure to effectively advance the rule of law.

Brent White is an Associate Professor of Law and Affiliate Professor of East Asian Studies at the University of Arizona.

This article was originally published in the most recent edition of the East Asia Forum Quarterly on Asia’s Regulatory Awakening.

Link to article


Philadelphia researchers look for signs of climate change in Mongolia

The age of exploration is not dead. Over the next six weeks, Robert M. Peck and colleagues from the Academy of Natural Sciences and the University of Pennsylvania will be traveling in Mongolia, reconnecting with herdsmen Peck met 17 years ago and checking for evidence of climate change. Peck blogs about his travels in the land once ruled by Genghis Khan, beginning Monday at

June 20 (The Inquirer) It looked like a scene from the Middle Ages: hundreds of horsemen dressed in long, sashed robes galloping over an open grassland stretching to the horizon. Gathered at the edges of the unmarked course stood hundreds more, cheering, chatting, exchanging gossip, and seeing friends they had not encountered for exactly a year.

Link to article


<Mogi & Friends Fund A/C>

Total +9.6%, -37.7%

Mogi & Friends Fund is a tiny fund of A$23K I created in late September with a few friends to put my own (and a few friends’) money where my mouth (just mine) is.




"Mogi" Munkhdul Badral

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CPS International is a marketing arm of CPS Securities in Mongolia. CPS Securities is a Perth, Western Australia based AFSL License Holder. To trade ASX and international stocks, feel free to contact me at or +976-99996779.



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