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 mogi@cpsinternational.mn or +976-99996779.
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Close: Mongolia Related ASX Listed Companies, June 6, 2011 | ||||||||
Code | Last | $ +/- | Bid | Offer | Open | High | Low | Volume |
0.040 | -0.003 | 0.040 | 0.041 | 0.043 | 0.044 | 0.040 | 2,142,873 | |
1.460 | -0.010 | 1.450 | 1.460 | 1.460 | 1.460 | 1.405 | 73,870 | |
0.250 | -0.010 | 0.250 | 0.270 | 0.260 | 0.260 | 0.250 | 63,607 | |
0.670 | -0.030 | 0.670 | 0.675 | 0.695 | 0.695 | 0.655 | 585,996 | |
0.012 | 0.001 | 0.011 | 0.012 | 0.012 | 0.012 | 0.012 | 524,450 | |
0.005 | 0.000 | 0.005 | 0.006 | 0.000 | 0.000 | 0.000 | 0 | |
0.058 | 0.002 | 0.057 | 0.058 | 0.056 | 0.058 | 0.056 | 1,784,586 | |
0.175 | 0.000 | 0.160 | 0.175 | 0.165 | 0.175 | 0.165 | 122,936 | |
1.230 | -0.040 | 1.215 | 1.230 | 1.275 | 1.275 | 1.215 | 523,365 | |
0.235 | -0.010 | 0.235 | 0.250 | 0.245 | 0.245 | 0.230 | 256,954 | |
0.500 | 0.000 | 0.350 | 0.500 | 0.500 | 0.500 | 0.500 | 250 | |
0.415 | -0.025 | 0.415 | 0.430 | 0.440 | 0.440 | 0.415 | 445,819 | |
22.020 | -0.150 | 21.900 | 22.050 | 22.100 | 22.160 | 21.830 | 765,295 | |
79.350 | -0.410 | 79.350 | 79.400 | 79.260 | 79.560 | 78.980 | 1,842,908 | |
43.000 | -0.230 | 42.950 | 43.000 | 42.990 | 43.090 | 42.780 | 7,962,415 | |
Source: asx.com.au
Citi lifts Mongol Mining (975) TP to HK$10.67
June 3 (ETNet) Citigroup raised its target price for Mongolian Mining (MMC, 00975) to HK$10.67 from HK$10, and maintained its "buy" call.
It believes the recently announced acquisition of Baruun Naran coal mine is accretive due to synergies. A 15% share-price drop from February reflects near-term concerns about MMC.
Citi expects the share price to recover if a fuel shortage is resolved and MMC's washing plant begins its commercial run, and if full-year output and sales targets are achieved. (KL)
Stock Exchange restructuring needs better legal support
June 6 (news.mn) The President of the Mongolian Stock Exchange (MSE), Bill Gorman, told participants at the Trade Mongolia 2011 forum, held in Chinggis Hotel on June 3 and 4, that when the work of restructuring the MSE was completed by the London Stock Exchange team, it would be electronically connected to the LSE and the Toronto exchange. The priority areas in the restructuring were trading methods, accounting, and deal making. The program, which included training MSE staff, is expected to be finished in December.
The team is facing some problems such as inadequate laws. Gorman hoped the Government of Mongolia would take note of these and take quick corrective measures.
Chinese, Mongolian military cooperation has broad prospects, Chinese DM
SINGAPORE, June 5 (Xinhua) -- Chinese Defense Minister Liang Guanglie said here Sunday that military cooperation between China and Mongolia has broad prospects and huge potentials.
When meeting Mongolian Defense Minister Luvsanvandan Bold on the sidelines of Shangri-La dialogue, Liang hoped the two sides will treat each other sincerely and constantly explore new fields and forms of cooperation in the way of mutual trust so as to push the friendly cooperation between the two armies to a higher level.
Liang said that in recent years, the good neighborly partnership of the two countries has increasingly strengthened and deepened, military relations have developed steadily, contents of cooperation have been enriched with positive fruits achieved, which, he noted, greatly promoted the development of China- Mongolia good neighborly partnership of mutual trust.
Bold said Mongolia attaches great importance to the development of relations with China in military and defense fields, adding that the two armies have expanded practical cooperation in the fields of peacekeeping, joint exercises and training.
He hoped both sides will intensify exchanges and cooperation in various fields so as to promote development of defense and military relations.
Eurasia Capital and Doran Capital Partners to Attract Korean Investments into Mongolia
ULAANBAATAR, June 6. Eurasia Capital is pleased to announce forming its partnership with Doran Capital Partners, a Seoul-headquartered diversified private equity and real estate investment management firm. Eurasia Capital and Doran Capital Partners intend to join their efforts in attracting Korean instutional investors in Mongolia. Doran Capital Partners will act as Korean office of Eurasia Capital in Seoul. Integrated team from both firms will offer advisory services to leading Korean corporations and instutitional investors looking at diverse range of investment and project opportunities in Mongolia.
Eurasia Capital and Doran Capital Partners are launching Korea Mongolia Resources Fund, a new private equity fund, targeting to raise US$100 million from Korean institutional investors and offers investors the opportunity to gain exposure to the dynamically growing Mongolian economy. Silk Road Management and Doran Capital Partners are forming the joint venture as general partner and a Ulaanbaatar and Seoul based investment management team will manage the fund. Eurasia Capital is acting as placement agent for Korea Mongolia Resources Fund.
South Korea and Mongolia have been important diplomatic and trading partners in the last 20 years. Mongolia sees South Korea as an important ally and a key element of its "third neighbor" policy. Mongolia is strongly interested in expanding its partnership with Asia's fourth largest economy and diversifying among its trading partners. The government of South Korea is keen to deepen its economic and political relationships with Mongolia while biggest South Korean resource companies have expressed interest in participating in large mining projects in Mongolia.
"Mongolia represents a unique investment opportunity for South Korean investors due to strong political support, favorable economic environment and attractive investment projects. We are delighted to partner with Doran Capital Partners to attract leading Korean corporates and investors into Mongolia" said Alisher Ali, Chairman of Eurasia Capital and Managing Partner of Silk Road Management.
"Eurasia Capital has been a pioneer in the development of the Mongolian private equity investment market. Eurasia's success in bringing foreign investors to Mongolia and its achievements in acting as a bridge between Mongolian companies and international capital markets have been impressive. Doran Capital Partners is excited to join Eurasia as its partner in facilitating and expanding Korean investment into Mongolia" stated Pietro A. Doran, Chairman and Principal Partner of Doran Capital Partners.
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KOREA AND MONGOLIA
Morning Calm Emerges Amid Blue Sky
June 6 (Eurasia Capital) --
Strong Ties. South Korea and Mongolia have been important diplomatic and trading partners in over the last 20 years. Mongolia sees South Korea as its “third neighbor” and is keen to expand its partnership with Asia’s fourth largest economy and diversify its trade away from its two largest trading partners - China and Russia. The partnership between Mongolia and South Korea has developed significantly since the two countries launched diplomatic relationships in 1990. South Korea has supported Mongolia in transition reforms to a market economy. In its turn, Mongolia plays an important role in improving relationships with North Korea, one of the major policy issues for South Korea.
Third largest trading partner. Mongolia’s trade with South Korea has almost quadrupled over the last decade and the Asia’s fourth biggest economy is now the third largest trading partner of the resource rich country after China and Russia. In addition, South Korea is the largest labor market for Mongolians. Estimates suggest that 38,000 to 40,000 Mongolian’s live in South Korea.
Korean Investors. South Korea is the 4th largest investor in Mongolia with total foreign direct investment (FDI) of over US$255mn since 1990, according to the Foreign Investment and Foreign Trade Agency of Mongolia (FIFTA). South Korea is also a key donor who has provided approximately US$137mn since 1990 in committed loans and grants to Mongolia. South Korean companies’ major investments and engagements include:
· Skytel: a JV with South Korean SK Telecom and Mongolian shareholders.
· Unitel Corp.: a 50/50 South Korean-Mongolian JV that started providing GSM services from 2006
· Mongolian Telecom: Korea Telecom bought 40% of the Company for US$4.5mn at privatization.
· Seoul Group: a property company with the first public luxury residential project in Ulaanbaatar
· Mongolian Development Bank: Korean Development Bank is expected to be hired as part of the management team to run this newly established Mongolian development vehicle
Major South Korean companies including state-owned Korea Resources Corp, steelmaker Posco and Korea Electric Power Corp have bid to the Western Tsankhi coalfield, the largest area of the Tavan Tolgoi mine. The South Korean consortium is jointly bidding with Japanese and Russian companies. In March 2011, Lotte E&C-led South Korean consortium signed a preliminary deal with Mongolian Railways to build a 1,040-kilometer railway in Mongolia.
We believe Mongolia represents a unique investment opportunity for South Korean investors due to strong political support, favorable economic environment and attractive investment projects. We hold an optimistic view that South Korean investments in Mongolia will increase as investors seek to capitalize on the expected boom in this resource-rich country. Investors are expected to capitalize on significant growth in the Mongolian capital market and pursue private equity deals in both resource and non-resource sectors. Natural resources, infrastructure and property in Mongolia are key areas where we expect South Korean investors, operators and developers to be increasingly active in coming years.
Presenting: The "Saudi Arabia" Of Asia
June 5 (Business Insider) If you're a true believer in the Chinese growth story, and the voracious demand for commodities that will represent in the coming years, you can't do any better than Mongolia.
Christopher Wood, in his latest GREED & Fear report writes:
A few meetings in Ulaanbaatar made it clear that the fundamental issue for this landlocked country is whether it will be able to develop the infrastructure, notably transport linkages, to take full advantage of its massive resource wealth. If it does, Mongolia will be to industrial commodities what Saudi Arabia has been for oil – assuming, of course, that the Chinese macro story remains on track.
Mongolian coal along is growing like crazy:
For now the ramping up of mining developments remains on track. The IMF now expects nominal GDP to real reach MNT16.6tn in 2013, twice the 2010 level of MNT8.3tn Coal exports are expected to reach 27.6m tons in 2011, up from 16.6m tons in 2010 with production of 41.6m tons expected in 2013. If coal is for now making the running, copper will take over in 2013 with the then anticipated commencement of production in 2013 of the Oyu Tolgoi (OT) field. Mongolia also is rich in gold, oil and assorted “rare earth” plays. But before all that kicks in the Mongolian story will have to navigate the inevitable noise of a general election due to be held in June 2012. The present government is an uneasy coalition of the two main parties. They are the Mongolian People's Party (MPP), the descendant of the old Communist Party, and the Democratic Party, set up in 1990 with the collapse of the Soviet Union.
Mongolia Shining: Important lessons in inclusive growth
June 6 (The Economic Times) India's economic gurus , now in hibernation somewhere deep inside Raisina Hill , should wake up and look at the world's latest poster-child of reform - Mongolia . Growth there is 10% and is expected to cross 20% by 2013. Mining is big business, but citizens of this democratic country have not started to fret about any adverse impact on the environment. Markets are up more than 25% this year, even after cooling off substantially.
Overseas capital is rushing in. But the most remarkable thing that the Mongolian government is doing, is pursuing its own version of inclusive growth. In order to let citizens share in the boom, it has given away - yes, for free - 538 shares in state-owned mining giant Erdenes-Tavan Tolgoi to each Mongolian. Currently at price zero, there's surely a significant upside for people when the stock lists, in an IPO scheduled for later this year. Under Chengiz Khan, the Mongols fanned out to occupy much of Central Asia, Europe and China. China is back again in the crosshairs of the Mongols, but this time as the main buyer of much of its mineral wealth, and the source of manufactured imports. At around $2,000, Mongolia's per capita income is relatively low.
The government wants people to spend without worrying too much, so it recently gave $55 to each person to do what they want. It also sweetened the handout with a monthly stipend of $15 for everyone. India, which lacks for many things but not trained economists, has worked itself into a lather debating how to reform our creaking subsidy and food delivery system, and how to make cash transfers work. It's time to export some economists to Ulan Bator, and import some Mongol commonsense. The economists are welcome, of course, to suggest substituting members of the National Advisory Council for themselves.
Agreement signed to build canned food factory
June (news.mn) The Taij Group of Mongolia and Buriatiamyasoprom of Russia have signed a memorandum of cooperation to build a canned food factory in Mongolia and to export meat products to Russia. The Deputy Head of Taij Group, B.Biniye, has said businessmen from the two countries discussed ways of increasing the volume of export of meat products and of wool and cashmere at a meeting held during President Ts. Elbegdorj’s visit to Russia.
Group Head B.Ganpurev said the proposed factory would help the economy of Mongolia grow. Construction is slated to start in June and should be finished next year. It would have a daily capacity of 50 tons of meat.
<Mogi & Friends Fund A/C>
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.
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Mogi
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"Mogi" Munkhdul Badral
Executive Director
CPS International LLC
Telephone/Fax: +976-11-321326
Mobile: +976-99996779
Email: mogi@cpsinternational.mn
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Central Tower · 12th Floor · Left Wing · 2 Sukhbaatar Square
Sukhbaatar District 8 · Ulaanbaatar 14200 · Mongolia
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 mogi@cpsinternational.mn or +976-99996779.
Disclosure/Disclaimer
CPS Securities, its directors and employees advise that they may hold securities, may have an interest in and/or earn brokerage and other benefits or advantages, either directly or indirectly from client transactions mentioned in correspondence from CPS International.
CPS International advise this email contains general information only and does not include advice. In preparing this communication, CPS International did not take into account the investment objectives, financial situation and particular needs of any person. As with any speculative mining company there are significant risks.
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