HBOil JSC (MSE: HBO; Bloomberg
Code: HBO MO; “HBOil”), a profitable and growing refined petroleum products
recycling and processing company that is listed on the Mongolian Stock
Exchange, is pleased to announce that it has executed an agreement to acquire
100% of Ninox Hydrocarbons (L) Berhad (“NHLB”), a private Malaysian company
which holds 20% of the share capital of KOEC International, Inc. (“KOECII”).
Modun Resources (ASX: MOU) is on the road to commercialising the wholly-owned Nuurst Coal Project in central Mongolia, with the company's subsidiary (Modun Resources LLC) being selected as a preferred supplier of coal briquettes to the Mongolian Government.
Mongolia’s central bank plans to cut
interest rates on mortgages by almost half to 8 percent from
around 15 percent this month, following a new policy approved by
the government to ease financial burdens on the middle class.
The USD 6.2 bn,
OT project is to do their commencement ceremony on Friday 14th and
officially start their copper concentrate export. The commencement/export
ceremony date was unclear before because of the dispute (on investment
agreement) between Rio Tinto and GOM.
Former Labour Prime Minister Tony
Blair - now a global consultant estimated to be worth £50 million - has signed
a deal to advise the Mongolian government. Other countries which pay for Mr
Blair’s consultancy services include Kazakhstan, Columbia and Kuwait. VoR’s
Vivienne Nunis reports.
Mongolia is scheduled to start
operations at its first wind farm this month, a $122 million
project that’s the biggest power plant in 30 years and part of a
government effort to cap pollution cloaking the capital city. The 50-megawatt facility developed by Clean Energy LLC
using 31 turbines from General Electric Co. (GE) is located on a
wind-raked ridge about 45 miles (72 kilometers) southwest of
Ulaanbaatar. Sengee Enkh-Amgalan, the company’s chief executive
officer, plans to officially start the plant on June 20.
The government approves the new long awaited mortgage procedure. The new
procedure will cover apartments that are less than 80 square meters and
already commissioned or old ones. The mortgage will have a AER of %8+ up to 20 years. The pre-payment will be around 10-30%. The subsidization will be coordinated by the cabinet’s policy.
BASF SE (BAS) plans to invest 10 billion
euros ($13 billion) in the Asia-Pacific region by the end of the
decade to tap demand in the fastest growing market for
chemicals. The German company plans to look at investments in
Mongolia, Laos, Myanmar and Cambodia, markets that have been
untapped as yet, it said.
Yum! Brands Inc. (YUM) plans to open a
total of 15 KFC restaurants within five years in Mongolia, where
mutton has long been the local staple and chicken was considered
a rare treat until recently. Ulaanbaatar-based Tavan Bogd Group, Yum’s partner in the
North Asian country and whose businesses include distributing
Volkswagen AG (VOW) cars, plans to open three more outlets in the
capital by the end of this year, it said in a statement.
Chinese copper smelters are
turning to Rio Tinto's Oyu Tolgoi mine in Mongolia for
concentrates in the spot market as a regional oversupply
situation in the raw material is easing after a key Indonesian
mine halted operations this month. The supply from Oyu Tolgoi, expected to begin in June, will
be vital to copper output in the world's top producer and
consumer of the metal since Chinese smelters are already facing
a shortage of alternative raw material scrap and several have
even cut production.
Sharyn Gol JSC (MSE:SHG; Bloomberg code:SHG MO; "Sharyn Gol")
announces the receipt of 2012 audited IFRS financial statements from Ernst
& Young Mongolia Audit LLC (“EYM”), the Mongolian affiliate of Ernst &
Young LLP, one of the world’s top 3 auditing firms.
Orix Corporation, a leading integrated financial services group of
Japan, has announced its decision to foray into the Mongolian financial
services business through an alliance with TenGer Financial Group (TFG),
a major Mongolian financial group.
The Japanese investment giant has reached an agreement to purchase
about 16 percent of shares in TFG and will obtain the necessary permits
in view of investment in June.
On May 24, 2013, the Mongolian Parliament approved the
newly drafted securities markets law which contains numerous positive changes
that would allow the Mongolian capital market to fulfill its much anticipated
potentials.
JCB International Co, Ltd. ("JCBI"), the
international operations subsidiary of JCB, Bank of Mongolia ("BOM"),
chair of the nationwide payment network, and Trade and Development Bank
of Mongolia ("TDBM"), a major commercial bank in Mongolia, are pleased
to announce the signing of a Master License agreement for merchant
acquiring. The new agreement enables all merchants in Mongolia to accept
JCB cards.
Tavan Tolgoi
(TTL:MSE) stated that they
were making sales despite of the weak coal price and market. The company is
selling coking coal at MNT 44k per ton on their mine site and their
mining cost is MNT 36k per ton (not including taxes and depreciation expense).
Mitsubishi Corporation (MC) and Chiyoda Corporation (Chiyoda) are
pleased to announce that they have reached an agreement with the Civil
Aviation Authority of Mongolia (CAAM) to construct the New Ulaanbaatar
International Airport in Mongolia. The contract price is approximately
50 billion yen.
Sharyn
Gol JSC has upgraded its technology with Komatsu brand May 2nd, 2013. Sharyn
Gol has been undergoing major changes in the past 3 years, aimed to elevate the
company and improve the quality of its coal production. They plan on expanding
the open pit mine to the newly found coal reserve and as a result they plan to
reach 3-4 million tons of coal production a year.
Mongolian government has started implementing a policy to increase the supplier sources of gasoline and diesel fuels of the country. Relevant orders have been given to the Mining Ministry. Oil export to China has been increasing steadily in the recent years enabling Mongolia to initiate oil processing factories to produce its own gasoline and diesel fuels.
Under an agreement signed at the 2013 EBRD Annual Meeting in Istanbul, the Bank is providing a US$ 20 million equity investment to the company Senj Sant which will build and operate the state-of-the-art plant. This equity investment is part of a financing package which also includes a loan of up to US$ 130 million. Half of the loan will be syndicated to other lenders.
The government announced that the Central Bank of Mongolia has granted a
soft loan of 100 billion MNT to construction cement and reinforcement
suppliers, as part a government project to decrease housing prices by
reducing the cost of key construction materials.
18 June, 2013 - Mongolian capital market
strongly rebounded today after starting the week on its wrong foot much thanks
to a MSE listed lubricant recycler, HBOil (MSE:HBO) which announced of
its acquisition of North Korean oil exploration asset before its shares jumped
15% on the news. Leading coal miners, Tavan Tolgoi (TTL) and Mogoin Gol (BDL)
gained 11.87% and 14.96% respectively to help MSE Top 20 index close 3.11%
higher than the previous day.
17 June 2013 - Mongolian bourse stumbled 3.35%
to close at 14,129.43 points when the largest value drivers including Tavan
Tolgoi (TTL), Sharyn Gol (SHG) and APU (APU) lost roughly 14%, 5% and 3%
respectively. Today, in total of 18.4 million MNT worth of stocks traded on the
stock exchange.
7 June 2013 - Mongolian shares
closed 1.64% higher on Friday, pushing MSE Top 20 to its seventh straight day
of gains. Tavantolgoi (TTL) and Aduunchuluun (ADL) once again led the gains by
jumping 14.99% and 12.05%, respectively. On the exchange, about 90 thousand
shares of 26 companies traded with a value of MNT 85.9 million (~$60k).
6 June 2013 - MSE Top-20 index advanced 3.37% or 480.96 points to close at 14,756.2,
which was the biggest daily jump so far in 2013, and also it was the 6th
consecutive trading day with a positive outcome. The market seems to
appreciate the fact that the long-awaited securities market law has been
finally approved. The mining companies led by Tavan Tolgoi TTL
(↑12.3%), Aduunchuluun ADL (↑14.99%) and Baganuur BAN (↑7.61%) led
today’s gainers.
23 April 2013, Tuesday – On the exchange, 14 thousand shares were traded with a value of MNT 38.5 million (USD 27.1 thousand). APU (APU), the largest MSE-listed company that gets 60 percent of the beverage market in Mongolia, dropped 4.1 percent to close at MNT 3,550.
22 April 2013, Monday - Mongolia stocks weakened to 28-month low despite good news being released lately. Erdenes Tavan Tolgoi LLC, Mongolia’s largest state-owned coal company, resumed shipments to China today. At the Cabinet meeting, it was resolved to accelerate the project construction of Oyu Tolgoi LLC in order to fulfil the contractual obligations on time.
19 April 2013, Friday – Tavantolgoi (TTL) slid more than 14 percent and was the biggest drag on the MSE Top 20 Index. The benchmark index fell 2.02 percent today to 14,660.01 points. However trading volume was very low at MNT 13.2 million or USD 9.4 thousand.
18 April 2013, Thursday – The market retreated today after two consecutive days of trading in the green, even three stocks rose for every one that fell. The market pulled down by weakness in Tavantolgoi (TTL), which is the largest market-cap stock on the MSE. TTL lost as much as 13.85 percent today to close at MNT 3,963.
17 April 2013, Wednesday – Almost two stocks rose for each that fell on the Mongolian Stock Exchange (MSE) on Wednesday. Total of 71 thousand shares worth of MNT 110.9 million (~USD 738.7 thousand) were traded on the exchange. MSE Top 20 edged up 0.09 percent to 15,000.70 points.
16 April 2013, Tuesday – Sharp rise in coal miners shares boosted the MSE Top 20 on Tuesday. Baganuur (BAN), a thermal coal miner that produces 3.3 million tonnes of coal per annum, strengthened 4.76 percent to MNT 4,400 after gaining 5 percent yesterday.
15 April 2013, Monday – Mongolian stocks finished weaker as losers outnumbered winners by 11 to 9. MSE Top 20 closed 0.80 percent lower to sit at 14,897.53 points. Trading value reached MNT 140.1 million or USD 99.4 thousand on Monday.
12 April 2013, Friday – Mongolian shares ended the week in red, snapping 2-day rally. On the Mongolian Stock Exchange, 56.7 thousand shares were traded with a value of MNT 40.0 million or USD 28.3 thousand as five shares fell for every four that rose.
11 April 2013, Thursday – Manufacturing stocks rose on Thursday, driving the MSE Top 20 to its best one-day gain since December 2012. The benchmark index closed up 1.45 percent to sit at 15,106.28 points.
10 April 2013, Wednesday – News that Mongolian inflation slowed below 10 percent for the first time in two years and Rio Tinto saying the copper production in Oyu Tolgoi may start this summer sent the MSE Top 20 up nearly 66.43 points Wednesday, first gain in four days.
9 April 2013, Tuesday – Trading value for Tuesday reached MNT 487 million or USD 345 thousand. HBOil (HBO) was the most active traded stock on the Mongolian Stock Exchange (MSE) with more than 2.6 million shares traded.
8 April 2013, Monday – Mongolian stocks benchmark index MSE Top 20 declined 0.46 percent on Monday to sit at 14,987.32 points.
Telecom Mongolia (MCH), Mongolia’s only state-owned telecom company, advanced 3.53 percent to close at MNT 1,760, followed by Aduunchuluun (+3.45%), Darkhan Nekhii (+3.02%), Talkh Chikher (+2.86%), Gobi (+2.27%), Remicon (+2.08%), and Genco Tour Bureau (1.18%).
5 April 2013, Friday – On the Mongolian Stock Exchange, MNT 41 million or USD 30 thousand worth of 16,456 shares of 19 companies were traded. State Department Store (UID) was the biggest gainer and closed up 9.21 percent followed by Mongol Savkhi (5.86 percent).
4 April 2013, Thursday – Advancers outpaced decliners on the Mongolian Stock Exchange by about 2 to 1. The MSE Top 20 Index rose to 15,062.99 on Thursday, a gain of 0.02%. The day’s value traded on the MSE was about MNT 75 million or USD 53.6 thousand.
3 April 2013, Wednesday – Mongolia stocks fell further on Wednesday amid low liquidity. Trading turnover was light at MNT 17.49 million or USD 12.5 thousand. Baganuur (BAN), the largest thermal coal producer of Mongolia that produces 3.4 million tonnes of coal per year, rebounded 2.38 percent to close at MNT 4,300 after three consecutive days of trading in the red.
2 April 2013, Tuesday – MSE Top 20 slumped to a 26-month low on Tuesday, led by declines in coal mining companies. Most MSE-listed coal miners performed not well during the trading session with Sharyn Gol (SHG), Baganuur (BAN), Aduunchuluun (ADL), Tavantolgoi (TTL) and Mogoin Gol (BDL) dropping 1.23 percent to 14.29 percent.
(Apr. 8th - Apr. 12th) MSE Top 20 index lost 0.26%
to 15,017.8 points whilst BDS index went down to 0.74% to 3,133.1
points. Despite the fact that companies reported strong financials in
2012 which have started being announced to the public at their annual
general meetings this month, both indexes have been losing value for 12
weeks in a row, reaching its 27-months low value.
(Feb 18th - 22th) MSE listed companies started announcing their year-end financials: net profit of most actively traded companies has grown by 42.1% in 2012 and sales revenue of those companies went up by 25% in the same year
(Feb 4th – Feb 8th) Market closed at lower value on the verge of Lunar New Year: MSE TOP20 index went down by 0.3% to 17,627.3 points whilst BDS index dropped by 2.0% to 3,767.0 points.
HBOil JSC (MSE: HBO; Bloomberg
Code: HBO MO; “HBOil”), a profitable and growing refined petroleum products
recycling and processing company that is listed on the Mongolian Stock
Exchange, is pleased to announce that it has executed an agreement to acquire
100% of Ninox Hydrocarbons (L) Berhad (“NHLB”), a private Malaysian company
which holds 20% of the share capital of KOEC International, Inc. (“KOECII”).
Mongolia’s central bank plans to cut
The USD 6.2 bn,
OT project is to do their commencement ceremony on Friday 14th and
officially start their copper concentrate export. The commencement/export
ceremony date was unclear before because of the dispute (on investment
agreement) between Rio Tinto and GOM.
Former Labour Prime Minister Tony
Blair - now a global consultant estimated to be worth £50 million - has signed
a deal to advise the Mongolian government. Other countries which pay for Mr
Blair’s consultancy services include Kazakhstan, Columbia and Kuwait. VoR’s
Vivienne Nunis reports.
The government approves the new long awaited mortgage procedure. The new
procedure will cover apartments that are less than 80 square meters and
already commissioned or old ones. The mortgage will have a AER of %8+ up to 20 years. The pre-payment will be around 10-30%. The subsidization will be coordinated by the cabinet’s policy.
Sharyn Gol JSC (MSE:SHG; Bloomberg code:SHG MO; "Sharyn Gol")
announces the receipt of 2012 audited IFRS financial statements from Ernst
& Young Mongolia Audit LLC (“EYM”), the Mongolian affiliate of Ernst &
Young LLP, one of the world’s top 3 auditing firms.
Orix Corporation, a leading integrated financial services group of
Japan, has announced its decision to foray into the Mongolian financial
services business through an alliance with TenGer Financial Group (TFG),
a major Mongolian financial group.
The Japanese investment giant has reached an agreement to purchase
about 16 percent of shares in TFG and will obtain the necessary permits
in view of investment in June.
On May 24, 2013, the Mongolian Parliament approved the
newly drafted securities markets law which contains numerous positive changes
that would allow the Mongolian capital market to fulfill its much anticipated
potentials.
JCB International Co, Ltd. ("JCBI"), the
international operations subsidiary of JCB, Bank of Mongolia ("BOM"),
chair of the nationwide payment network, and Trade and Development Bank
of Mongolia ("TDBM"), a major commercial bank in Mongolia, are pleased
to announce the signing of a Master License agreement for merchant
acquiring. The new agreement enables all merchants in Mongolia to accept
JCB cards.
Tavan Tolgoi
(TTL:MSE) stated that they
were making sales despite of the weak coal price and market. The company is
selling coking coal at MNT 44k per ton on their mine site and their
mining cost is MNT 36k per ton (not including taxes and depreciation expense).
Mitsubishi Corporation (MC) and Chiyoda Corporation (Chiyoda) are
pleased to announce that they have reached an agreement with the Civil
Aviation Authority of Mongolia (CAAM) to construct the New Ulaanbaatar
International Airport in Mongolia. The contract price is approximately
50 billion yen.
Sharyn
Gol JSC has upgraded its technology with Komatsu brand May 2nd, 2013. Sharyn
Gol has been undergoing major changes in the past 3 years, aimed to elevate the
company and improve the quality of its coal production. They plan on expanding
the open pit mine to the newly found coal reserve and as a result they plan to
reach 3-4 million tons of coal production a year.
The government announced that the Central Bank of Mongolia has granted a
soft loan of 100 billion MNT to construction cement and reinforcement
suppliers, as part a government project to decrease housing prices by
reducing the cost of key construction materials.
