Daily Report 2016-05-17.pdf
3
Mongolian Economic Indicators Indicator Date Last Δ%YoY NGDP /bln. MNT/ 3/31/2016 4,706 2.00 RGDP /bln.MNT/ 3/31/2016 2,938 3.10 Inflation 4/30/2016 2.1 -77.17 Foreign reserve /mln. USD/ 3/31/2016 1,168.3 -2.16 Policy rate 5/5/2016 10.50 -2.50 Trade balance /mln. USD/ 3/31/2016 98.70 15.98 Unemployment rate 12/31/2015 8.30 7.80 FX Market Currency Last Δ%DoD Δ%WoW Δ%MoM USD/MNT 2,005.75 0.39 0.24 -0.61 CNY/MNT 307.56 0.46 0.03 0.08 RUB/MNT 30.91 0.35 -0.66 -2.52 EUR/MNT 2,269.55 0.44 0.12 -0.63 JPY/MNT 18.40 0.38 0.55 -0.43 EUR/USD 1.1315 -0.05 0.05 0.02 USD/JPY 109.03 0.00 -0.37 -0.19 Debt Markets Bonds - Coupon Amt. issued mln USD Last Yield Maturity date DBM bond - 5.75 580 98.50 7.615 3/21/2017 DBM bond - 1.52 samurai 275 104.35 0.900 12/25/2023 Mongol 2018 - 4.125 500 95.54 6.807 1/5/2018 Mongol 2022 - 5.125 1,000 80.41 9.058 12/5/2022 Mongol 2018 - 7.5 dim sum 153 90.05 12.513 6/30/2018 Mongol 2021- 10.875 500 103.46 9.849 4/6/2021 TDBM 2017 - 10 dim sum 107 98.89 11.166 1/21/2017 TDBM bond - 9.375 500 94.38 11.157 5/19/2020 MMC bond - 8.875 600 19.88 325.736 3/29/2017 World Indices Δ%DoD ΔYTD% MSE - TOP 20 MN 11,164.44 0.23 -13.44 DJIA US 17,710.71 1.00 1.64 S&P 500 US 2,066.66 0.98 1.11 S&P/TSX comp US 13,893.49 1.05 6.79 FTSE 100 UK 6,151.40 0.21 -1.46 S&P/ASX 200 AUS 5,385.70 0.50 1.70 Hang Seng CN 19,898.97 0.08 -9.20 MICEX/ Moscow Index 50 RUS 1,915.33 0.43 8.74 Shanghai Composite Index RUS 2,847.33 -0.12 -19.55 Bloomberg/Asia Pacific. World ASIA 166.38 0.17 -8.67 Commodity Prices Δ%DoD ΔYTD% Copper Spot /LME 4,649.50 0.29 -1.20 Oil 48.16 0.92 30.02 Gold Spot /LME 1,278.80 0.36 20.52 Silver Spot /LME 17.24 0.60 24.52 USD Δ%MoM ΔYTD% Iron Ore 58%/Tianjin 59.58 7.31 50.45 Prime Coking Coal/China Import 63.00 -5.97 1.61 Prime Coking Coal China Import from Mongolia price 32.00 0.00 -8.57 Source: Bloomberg Finance L.P. Commodity USD Performance Daily Report 5/17/2016 Index Country Last Performance News New international airport in Khushigt Valley to have access to railway Minister of Transportation approved to connect "BogdKhan" railway project to the new international airport to be built in Khushigt Valley. "BogdKhan" railway project is financed by Asian Development Bank. BloombergTV Mongolia Gold export rose 26% as April, 2016 According to data from National Statistics Office, copper concentrate export rose 34% in size to 557,500 tons but declined 4.5% in amount to US$637.3 million. Gold export increased by 0.9t to 4.3t and total proceeds increased 26% to US$167.9 million. Coal export decreased 20% to 5Mt. http://www.mongolianminingjournal.com/content/63049.shtml SouthGobi Resources announces Q1'16 financial and operating results Q1 revenue of Southgobi Resouces Limited (HKEx:1878) rose 8 times to US$12.7 million compared to year earlier. Net loss declined 34% to US$15.4 million vs. net loss of US$23.3 million in Q1'15. The company sold 0.88Mt coal in Q1'16 vs 0.18Mt in Q1'15. Coal production decreased 40% to 0.37Mt vs. 0.62Mt year earlier. As of May 16, 2016, the company had cash of US$0.8 million. Southgobi Resources News Releases Turquoise Hill signs deferral letter agreement with Southgobi Resources On May 16, 2016, Turquoise Hill Resources Ltd. signed a deferral letter agreement with Southgobi Resources, in which Turquoise Hill agreed to a limited and circumscribed deferral of repayment of all remaining amounts owing under the Turquoise Hill shareholder loan to December 29, 2017. The Company has agreed to repay $0.15 million per month starting on May 31, 2016 and ending on April 28, 2017; $0.2 million per month starting on May 31, 2017 and ending on December 29, 2017, at which time all remaining obligations will become due. Southgobi Resources News Releases World news Berkshire’s $1 Billion Apple Bet Suggests Faith in Product Pipeline Warren Buffett’s Berkshire Hathaway Inc. is betting $1.1 billion on the Apple Inc. Even after Apple warned that the sales decline it experienced in the fiscal second quarter would continue in the subsequent three months, there are just two analysts among the 50 monitored by Bloomberg who recommend selling the stock. While the average 12-month target price has fallen from last July’s peak, it remains at $124.60, about 33 percent above current levels. The gamble hints at Berkshire’s confidence in Apple’s ability to create new products that reignite revenue growth. http://www.bloomberg.com/news/articles/2016-05-16/buffett-s-berkshire- discloses-9-81-million-share-stake-in-apple NEWS & UPDATES Coal/China Import Iron ore Coal/China Import from Mongolia Copper Gold Oil
Transcript of Daily Report 2016-05-17.pdf
Mongolian Economic Indicators
Indicator Date Last Δ%YoY
NGDP /bln. MNT/ 3/31/2016 4,706 2.00
RGDP /bln.MNT/ 3/31/2016 2,938 3.10
Inflation 4/30/2016 2.1 -77.17
Foreign reserve /mln. USD/ 3/31/2016 1,168.3 -2.16
Policy rate 5/5/2016 10.50 -2.50
Trade balance /mln. USD/ 3/31/2016 98.70 15.98
Unemployment rate 12/31/2015 8.30 7.80
FX Market
Currency Last Δ%DoD Δ%WoW Δ%MoM
USD/MNT 2,005.75 0.39 0.24 -0.61
CNY/MNT 307.56 0.46 0.03 0.08
RUB/MNT 30.91 0.35 -0.66 -2.52
EUR/MNT 2,269.55 0.44 0.12 -0.63
JPY/MNT 18.40 0.38 0.55 -0.43
EUR/USD 1.1315 -0.05 0.05 0.02
USD/JPY 109.03 0.00 -0.37 -0.19
Debt Markets
Bonds - Coupon
Amt.
issued mln
USD
Last YieldMaturity
date
DBM bond - 5.75 580 98.50 7.615 3/21/2017
DBM bond - 1.52 samurai 275 104.35 0.900 12/25/2023
Mongol 2018 - 4.125 500 95.54 6.807 1/5/2018
Mongol 2022 - 5.125 1,000 80.41 9.058 12/5/2022
Mongol 2018 - 7.5 dim sum 153 90.05 12.513 6/30/2018
Mongol 2021- 10.875 500 103.46 9.849 4/6/2021
TDBM 2017 - 10 dim sum 107 98.89 11.166 1/21/2017
TDBM bond - 9.375 500 94.38 11.157 5/19/2020
MMC bond - 8.875 600 19.88 325.736 3/29/2017
World Indices
Δ%DoD ΔYTD%MSE - TOP 20 MN 11,164.44 0.23 -13.44
DJIA US 17,710.71 1.00 1.64
S&P 500 US 2,066.66 0.98 1.11
S&P/TSX comp US 13,893.49 1.05 6.79
FTSE 100 UK 6,151.40 0.21 -1.46
S&P/ASX 200 AUS 5,385.70 0.50 1.70
Hang Seng CN 19,898.97 0.08 -9.20
MICEX/ Moscow Index 50 RUS 1,915.33 0.43 8.74
Shanghai Composite Index RUS 2,847.33 -0.12 -19.55
Bloomberg/Asia Pacific. World ASIA 166.38 0.17 -8.67
Commodity Prices
Δ%DoD ΔYTD%
Copper Spot /LME 4,649.50 0.29 -1.20
Oil 48.16 0.92 30.02
Gold Spot /LME 1,278.80 0.36 20.52
Silver Spot /LME 17.24 0.60 24.52
USD Δ%MoM ΔYTD%
Iron Ore 58%/Tianjin 59.58 7.31 50.45
Prime Coking Coal/China Import 63.00 -5.97 1.61
Prime Coking Coal China Import
from Mongolia price 32.00 0.00 -8.57
Source: Bloomberg Finance L.P.
Commodity USDPerformance
Daily Report5/17/2016
Index Country LastPerformance
News New international airport in Khushigt Valley to have access to railway Minister of Transportation approved to connect "BogdKhan" railway project to the new international airport to be built in Khushigt Valley. "BogdKhan" railway project is financed by Asian Development Bank.
BloombergTV Mongolia Gold export rose 26% as April, 2016
According to data from National Statistics Office, copper concentrate export rose 34% in size to 557,500 tons but declined 4.5% in amount to US$637.3 million. Gold export increased by 0.9t to 4.3t and total proceeds increased 26% to US$167.9 million. Coal export decreased 20% to 5Mt. http://www.mongolianminingjournal.com/content/63049.shtml SouthGobi Resources announces Q1'16 financial and operating results Q1 revenue of Southgobi Resouces Limited (HKEx:1878) rose 8 times to US$12.7 million compared to year earlier. Net loss declined 34% to US$15.4 million vs. net loss of US$23.3 million in Q1'15. The company sold 0.88Mt coal in Q1'16 vs 0.18Mt in Q1'15. Coal production decreased 40% to 0.37Mt vs. 0.62Mt year earlier. As of May 16, 2016, the company had cash of US$0.8 million. Southgobi Resources News Releases Turquoise Hill signs deferral letter agreement with Southgobi Resources On May 16, 2016, Turquoise Hill Resources Ltd. signed a deferral letter agreement with Southgobi Resources, in which Turquoise Hill agreed to a limited and circumscribed deferral of repayment of all remaining amounts owing under the Turquoise Hill shareholder loan to December 29, 2017. The Company has agreed to repay $0.15 million per month starting on May 31, 2016 and ending on April 28, 2017; $0.2 million per month starting on May 31, 2017 and ending on
December 29, 2017, at which time all remaining obligations will become due. Southgobi Resources News Releases
World news Berkshire’s $1 Billion Apple Bet Suggests Faith in Product Pipeline Warren Buffett’s Berkshire Hathaway Inc. is betting $1.1 billion on the Apple Inc.
Even after Apple warned that the sales decline it experienced in the fiscal second quarter would continue in the subsequent three months, there are just two analysts among the 50 monitored by Bloomberg who recommend selling the
stock. While the average 12-month target price has fallen from last July’s peak, it remains at $124.60, about 33 percent above current levels. The gamble hints at Berkshire’s confidence in Apple’s ability to create new products that reignite revenue growth.
http://www.bloomberg.com/news/articles/2016-05-16/buffett-s-berkshire-discloses-9-81-million-share-stake-in-apple
NEWS & UPDATES
Coal/China Import
Iron ore
Coal/China Import from Mongolia
Copper
Gold
Oil
17 May 2016 2
MONGOLIA RELATED COMPANIES
Company NameClosing
PriceCurrency %ΔDoD YTD %
Daily Traded
value USD
Traded
Volume Day
Avg. 5 day traded
volume
Market cap
mln USD52w high 52w low Industry
Rio Tinto 29.020 USD 2.58 -0.34 105,352,100 3,607,588 4,786,431 54,126.79 46.160 21.885 Metals & Mining
Banpu 12.900 THB -1.53 6.40 4,971,536 13,610,700 44,093,440 1,412.44 21.217 10.911 Oil, Gas & Consumable Fuels
Turquoise Hill Resources 2.810 USD -0.35 10.63 7,923,702 2,757,711 2,502,411 5,654.60 4.740 1.550 Metals & Mining
Areva 3.980 EUR -0.25 -26.62 17,164 3,802 22,600 1,725.87 9.350 3.260 Electrical Equipment
Mongolian Mining Corporation 0.101 HKD -2.88 -42.29 35,126 2,636,000 12,821,313 120.52 0.560 0.026 Metals & Mining
Centerra Gold 7.720 CAD 2.25 17.15 9,081,451 1,172,710 1,109,573 1,868.31 8.670 5.510 Metals & Mining
SouthGobi Resources 1.550 HKD -3.16 -35.42 20 100 14,800 51.45 6.830 1.240 Oil, Gas & Consumable Fuels
Mongolia Energy Corporation 0.175 HKD 5.14 3.95 4,175 177,000 58,660 42.35 0.640 0.107 Oil, Gas & Consumable Fuels
Denison Mines 0.502 USD 0.48 0.88 172,747 348,599 252,777 260.46 0.922 0.350 Oil, Gas & Consumable Fuels
Genie Energy 7.790 USD 0.39 -29.08 204,945 26,199 43,848 191.87 14.748 6.271 Electric Utilities
Central Asia Metals 161.500 GBp -2.86 5.30 22,515 9,473 29,693 261.03 195.000 121.250 Metals & Mining
Entrée Gold 0.345 USD 3.08 46.22 28,793 84,120 107,870 52.60 0.509 0.170 Metals & Mining
Xanadu Mines 0.230 AUD 2.22 109.09 8,817 53,109 131,557 75.39 0.250 0.073 Metals & Mining
Guildford coal / Terra Energy 0.004 AUD 0.00 -42.86 8,748 2,980,227 1,708,013 7.05 0.042 0.002 Oil, Gas & Consumable Fuels
Khan Resources 0.659 USD 0.00 164.42 125,602 189,900 47,400 55.44 0.663 0.237 Oil, Gas & Consumable Fuels
Aspire Mining 0.006 AUD 0.00 -25.00 697 170,000 57,440 4.09 0.026 0.005 Metals & Mining
Prophecy Coal 0.020 CAD 0.00 -42.86 1,211 78,000 318,902 5.67 0.075 0.010 Oil, Gas & Consumable Fuels
Petro Matad Ltd 3.375 GBp -6.90 8.00 0 1,453,507 3,754,067 14.04 9.875 1.875 Oil, Gas & Consumable Fuels
Mongolia Growth Group Ltd 0.420 CAD 3.70 23.53 0 12,500 34,963 21.57 1.120 0.330 Real Estate Management
Erdene Resources Development 0.500 CAD 0.00 212.50 145,600 371,350 1,248,991 44.57 0.550 0.110 Metals & Mining
General Mining Corp Ltd 0.580 AUD -5.69 127.45 571,082 1,292,872 862,259 132.67 0.735 0.038 Metals & Mining
Kincora Copper 0.030 CAD 0.00 50.00 3,508 134,000 25,859 7.31 0.040 0.015 Metals & Mining
Haranga Resources 0.002 AUD 0.00 -50.00 147 100,000 46,121 0.57 0.020 0.002 Metals & Mining
Wolf Petroleum 0.007 AUD 0.00 0.00 - - - 0.00 0.024 0.004 Oil, Gas & Consumable Fuels
Viking Mines 0.018 AUD 0.00 12.50 2,642 200,000 - 3.29 0.028 0.008 Metals & Mining
Parmelia Resources 0.068 AUD -1.47 48.89 2,708 55,000 97,215 5.91 0.098 0.020 Metals & Mining
Altan Rio Minerals 0.020 CAD 0.00 100.00 155 10,000 2,000 1.38 0.030 0.010 Metals & Mining
Eumeralla Resources 0.026 AUD 0.00 16.87 2,423 127,000 - 1.89 0.037 0.019 Metals & Mining
Draig Resources 0.024 AUD 0.00 -3.21 1,761 100,000 812 1.88 0.035 0.015 Metals & Mining
Source: Bloomberg
MONGOLIAN STOCK MARKET - MSE TOP 20 INDEX 16/05/2016
Company name
Closing
Price
MNT
%ΔDoD %ΔYTDLast Traded
date
Daily Traded
value USD
Traded
volume Day
Avg. 5 day value
USD
Market Cap
USD
52w
high MNT
52w low
MNTIndustry
MSE TOP 20 Index 11,139 -0.17 -13.44 5/16/2016 7,666 5,581 11,738 352,438,365 15,862 10,485 MSE Top 20 Index
APU JSC 3,853 -2.23 -0.03 5/16/2016 5,552 2,890 2,181 144,260,547 4,040 3,252 Beverages-Wine/Spirits
Arig Gal JSC 2,194 0.00 -6.64 5/11/2016 - - - 3,805,872 2,700 1,900 Wool
Baganuur JSC 2,935 0.00 18.83 5/13/2016 - - 395 30,691,635 3,310 1,350 Coal
Bayangol Hotel JSC 37,500 0.00 -21.88 5/5/2016 - - - 10,082,267 52,000 37,500 Hotels&Motels
BDSec JSC 1,550 0.00 -20.06 5/12/2016 - - - - 2,000 1,300 Finance-Invest Bnkr/Brkr
Hermes Center JSC 115 0.00 -6.50 5/16/2016 29 500 - 5,090,659 149 105 Retail-Misc/Diversified
Gobi JSC 7,500 0.00 -11.56 5/16/2016 875 234 71 29,170,354 12,000 7,500 Apparel Manufacturers
Darkhan Nekhii JSC 15,100 0.00 -17.26 5/13/2016 - - - 10,196,366 24,040 15,100 Apparel Manufacturers
Jenco Tour Bureau 72 0.00 -4.00 5/13/2016 - - 10 3,589,680 100 65 Travel Services
Makh Impex 2,350 0.00 -17.25 5/12/2016 - - 2 6,063,720 3,650 2,350 Food-Meat Products
Merex JSC 70 0.00 -5.41 5/16/2016 0 10 - - 93 68 Bldg Prod-Cement/Aggreg
Tavan Tolgoi JSC 1,390 0.00 -52.88 5/16/2016 177 256 112 36,497,384 4,350 100 Coal
Talkh Chikher JSC 17,000 0.00 -2.19 5/16/2016 602 71 86 8,676,530 21,000 15,000 Food-Baking
UB-BUK JSC 29,980 0.00 -24.29 5/12/2016 - - - 19,675,558 40,200 25,000 Bldg Prod-Cement/Aggreg
State Department Store JSC 500 -0.20 -5.66 5/16/2016 399 1,600 30 9,175,583 885 453 Retail-Misc/Diversified
HB Oil JSC 336 0.00 -7.14 4/15/2016 - - - - 500 330 Oil Refining&Marketing
Khukh Gan JSC 56 0.00 -25.33 5/12/2016 - - 12 2,828,759 145 55 Metal-Diversified
Sharyn Gol JSC 3,500 5.71 -9.14 5/16/2016 9 5 17 17,853,602 8,600 2,000 Coal
Shivee Ovoo JSC 3,180 6.00 -14.85 5/16/2016 24 15 54 20,070,948 5,870 2,190 Coal
E- Trans Logistics JSC 90 0.00 -25.00 4/15/2016 - - - - 130 86 Transport-Services
Source: Bloomberg
Gainers: % Latest News:
Shivee Ovoo JSC 6.00 Q1'16 revenue rose 17.4% vs Q1'15
Sharyn Gol JSC 5.71 2015 coal production: 758,500t
Losers:
Petro Matad Ltd -6.90 Shell to exit Block IV and Block V production
General Mining Corp Ltd -5.69 Requests for trading halt due to announcement regarding Mt. Cattlin
317 May 2016
Disclaimer This document has been prepared by the Golomt Securities LLC for information purpose only. The views expressed are the 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 material, including information sourced from or attributed to Golomt Securities LLC, 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 independently determine, with your own advisors, the appropriateness for you of the securities/transactions before investing or transacting.
Golomt Securities LLC Golomt Securities LLC provides timely and efficient execution of domestic and global securities transactions while concurrent ly providing insightful advisory service based upon our unique proprietary research and analysis. We have a physical seat on the Mongolian Stock Exchange (MSE) as well as trade access to all major international stock exchanges and over-the-counter markets through our longstanding correspondent relationships with many of the world's leading banking institutions. Our services offer the most comprehensive financial solutions to investors and companies seeking financing by taking a holist ic approach that combines the strength of Golomt Bank's investment banking services and market research expertise as well as Golomt Secur ities LLC's state of the art trade execution capabilities and superior service standards. Contact 606B Central Tower Great Chinggis Khaan's Square, Ulaanbaatar 14200 Mongolia Phone: +976-70121530 Fax: +976-70121529 E-mail: [email protected] Website: www.golomtsecurities.com
Find us on Bloomberg: GLM <GO>
