WORLD INDICES

Change %
(Day)
YTD change %
MSE - Top20 MN 15,914.41 -0.21 -2.38
DJIA US 17,068.71 0.32 2.97
S&P 500 US 1,995.69 0.36 7.97
Nasdaq US 4,586.52 0.75 9.81
S&P/TSX comp CN 15,471.89 -0.42 13.58
FTSE 100 UK 6,830.11 0.02 1.20
S&P/ASX 200 US 5,569.30 -0.09 4.06
Hang Seng HK 24,705.36 -1.93 6.00
Bloomberg/asia.pac ASIA 178.60 0.11 6.22
COMMODITY PRICES
Change %
(Day)
YTD change %
Prime Coking Coal /Tianjin 140.30 0.00 -26.50
Zinc Spot /LME 2,295.75 0.23 11.82
Iron Ore 58% /Tianjin 71.30 -1.52 -40.58
Copper Spot /LME 6,893.75 0.53 -6.53
Oil 91.67 -1.16 -6.86
Gold Spot /LME 1,248.75 -0.08 3.92
Silver Spot /LME 18.95 -0.09 -2.67
MONGOLIAN ECONOMIC INDICATORS
Date Last
YoY change
%
RGDP /bln. MNT/ 2014.07 9,857 5.3
NGDP /bln.MNT/ 2014.07 6,635 14.6
Inflation 2014.07 14.9
Foreign reserve /mln. USD/ 2014.06 1,317.5 -57.6
Policy rate July 31 ,2014 12.00
DEBT MARKET
Bonds - Coupon
Amt.
issued mln
USD
Last Yield Maturity date
DBM bond - 5.75 580 98.45 6.427 3/21/2017
MMC bond - 8.875 600 64.50 29.779 3/29/2017
Mongol 2018 - 4.125 500 94.33 5.881 1/5/2018
Mongol 2022 - 5.125 1,000 87.33 7.079 12/5/2022
TDBM 2015 - 8.5 300 99.88 8.624 9/20/2015
TDBM 2015 - 12.5 25 99.63 12.578 11/17/2015
TDBM 2017 - 10 dim sum 115 97.32 11.010 1/21/2017
DBM bond - 1.52 sam. 290 102.98 1.172 12/25/2023
INDICES CHANGE
MSE TOP 5 MOST TRADED
Trade value '000
MONGOLIAN RELATED NEWS
Mongolia Outlines Steps To Reduce Default Risks
Mongolia is determined to reduce default risks on its international debt by resuming a long-stalled
$4.2bn copper mine project by the end of this year, bringing government debt levels to within legal
limits and cutting back on welfare payments, a senior government official said. Risks associated with
the north Asian country surged in July after Moodys, the credit rating agency, downgraded its bonds
by one rung to B2, a rating that signifies high credit risk. The reasons for the downgrade included
plunging foreign exchange reserves, expansionary monetary and fiscal policies and an unpredictable
environment for foreign direct investment (FDI). But Chultem Ulaan, finance minister, told
beyondbrics that Mongolia is taking a series of measures to boost its foreign currency reserves by
attracting more FDI and boosting exports, while reducing fiscal outlays by cutting back on welfare
payments and capping government debt at 40 per cent of GDP. Mongolia issued $1.5bn in two
Chinggis bonds to international investors in 2012 and faces repayments of $500m and $1bn at their
maturities in 2018 and 2022. However, an earlier test comes in late 2015 at the maturity of two Trade
and Development Bank bonds worth a combined $325m. At the same time, foreign direct investment
to GDP has plummeted (see left hand chart above) to $402m in the first five months of 2014, from
$1.1bn during the same period of last year. Much of the slump in FDI inflows has stemmed from the
stalling of the $4.2bn Oyu Tolgoi copper mining project, which once fully operational is expected to
produce some 30 per cent of Mongolias annual GDP, mostly through exports to China. Ulaan said it
is crucial to get the Oyu Tolgoi project back on track, partly because the ensuing FDI inflows would
strengthen Mongolias ability to service its external debts and partly because of the restorative effect a
resolution would have on Mongolias reputation. Mongolias Fiscal Stability Law stipulates that
government debt to GDP cannot exceed 40 per cent of GDP from 2014 and Ulaan said the
government is working hard to meet that target.
(Source: http://blogs.ft.com/beyond-brics/2014/09/10/mongolia-outlines-steps-to-reduce-default-
risks/?catid=677&SID=google)
Mongolia Taps Bloomberg As Official Auction Platform For Government Bonds
The ministry of finance of Mongolia has chosen Bloomberg for the electronic auction and allocation of
Mongolian government bonds as they signed a memorandum of understanding commencing the
partnership. The government of Mongolia has made significant progress in developing its government
bond market since its launch. The ministry of finance is implementing comprehensive measures to
increase market efficiency, transparency, ease of accessibility and open the market to a broader
investor base. It seeks to ensure that the Mongolian market is as efficient, transparent and
competitive as possible. The Bloomberg bond auction system for Mongolian government bond is
expected to launch in Q4 2014.
(Source: http://www.theasset.com/article/27398_mongolia-taps-bloomberg-as-official-auction-platform-
for-government-bonds.html#axzz3Cy20S9bD)
GLOBAL NEWS
Japan Leads Asian Stock Gains as Kiwi Retreats With Wheat
Asian stocks rose, with Japans Topix (TPX) index extending a six-year high as the yen held losses.
New Zealands dollar fell after the central bank said it was still unjustifiably strong, while wheat
extended declines. The MSCI Asia Pacific Index added 0.1 percent by 9:51 a.m. in Tokyo, with the
Topix up 0.4 percent in a fourth day of gains. Standard & Poors 500 Index futures fell 0.1 percent
after the index snapped a two-day drop in the U.S. The Kospi gauge in Seoul rose 0.1 percent after a
three-day holiday. The yen was near an almost six-year low, while the kiwi slid to its weakest level
since February. Oil in New York was near an eight-month low. Wheat dropped to the lowest level
since 2010. The Topix is set to extend its highest close since July 2008 today, while the smaller
Nikkei 225 Stock Average (NKY) gained 0.6 percent, headed for an eight-month high. Australias
S&P/ASX 200 Index was little changed near a four-week low, as the NZX 50 Index in Wellington
climbed 0.3 percent.
(Source: Bloomberg)
2014-09-11
11 September 2014
Daily Report
Performance
Last Country Index
Indicator
Performance
Last
USD
Commodity
NEWS & ANALYSIS
-2.38
2.97
9.81
13.58
1.20
4.06
6.00
1.55
-2.48
YTD %
-0.21
0.32
0.75
-0.42
0.02
-0.09
-1.93
-0.11
0.62
MSE - Top20
DJIA
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
DAX
Nikkei 225
Change % (Day)
2,174
1,143
420
386
369
278
0 1,000 2,000 3,000
BUK
MCH
JTB
TCK
TTL
HGN
3.52%
-9.32%
-0.06%
-10% -5% 0% 5%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
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Volume MSETOP Index
Daily Report | 2014.09.11

11 September 2014 2
MONGOLIAN RELATED COMPANIES
Name Sym Currency Last Chg day % YTD %
Trade value
000 USD
Market cap
mln USD/
52w high 52w low
Currency
cross
Turquoise Hill TRQ US Equity USD 3.530 6.01 6.97 17,267.9 7,103.41 4.36 3.01 1.00
Centerra Gold CG CN Equity CAD 5.840 -2.67 35.19 5,515.4 1,260.91 6.90 2.82 1.09
MMC 975 HK Equity HKD 0.620 0.00 -39.81 169.5 296.39 1.60 0.48 7.75
Denison Mines Corp DML CN Equity CAD 1.350 2.27 4.65 744.8 623.21 1.95 1.01 1.09
Winsway Coking Coal Holdings Ltd 1733 HK Equity HKD 0.385 0.00 -21.43 480.8 187.44 0.70 0.31 7.75
MoEnCo 276 HK Equity HKD 0.227 0.00 -6.58 0.0 197.89 0.29 0.15 7.75
SouthGobi Resources 1878 HK Equity HKD 4.890 0.00 -28.92 455.7 118.19 10.22 4.38 7.75
Central Asia Metals PLC CAML LN Equity GBp 167.000 0.00 18.44 44,907.0 298.87 190.00 125.00 0.62
Mongolia Investment Group Ltd 402 HK Equity HKD 0.177 0.00 -38.97 264.5 152.91 0.43 0.16 7.75
Mongolia Growth Group YAK CN Equity CAD 2.090 -5.43 -7.93 159.7 66.33 3.07 1.71 1.09
North Asia Resources Holdings Ltd 61 HK Equity HKD 0.158 0.00 -13.19 102.4 71.35 0.23 0.10 7.75
Guildford Coal Ltd GUF AU Equity AUD 0.060 0.00 -27.59 1.5 46.47 0.15 0.05 1.09
Origo Partners PLC OPP LN Equity GBp 7.875 0.00 6.78 0.0 45.54 9.50 6.63 0.62
Entree Gold Inc ETG CN Equity CAD 0.290 0.00 -6.45 27.2 38.93 0.53 0.27 1.09
Aspire Mining Ltd AKM AU Equity AUD 0.054 0.00 -3.57 3.7 32.57 0.08 0.03 1.09
Prophecy Coal Corp PCY CN Equity CAD 0.070 -6.67 -12.50 5.1 16.10 0.13 0.04 1.09
FeOre Ltd FEO AU Equity AUD 0.055 0.00 34.15 4.0 26.67 0.08 0.03 1.09
Petro Matad Ltd MATD LN Equity GBp 3.125 -3.85 -16.67 1,773.0 14.15 11.50 2.63 0.62
Xanadu Mines Ltd XAM AU Equity AUD 0.130 0.00 160.00 0.0 28.77 0.18 0.03 1.09
Haranga Resources Ltd HAR AU Equity AUD 0.030 0.00 -51.61 3.2 6.65 0.09 0.03 1.09
Wolf Petroleum Ltd WOF AU Equity AUD 0.060 0.00 -14.29 6.8 14.40 0.09 0.03 1.09
Manas Petroleum Corp MNAP US Equity USD 0.118 -9.23 72.26 75.3 20.37 0.14 0.04 1.00
Khan Resources Inc KRI CN Equity CAD 0.370 7.25 29.82 6.8 23.02 0.45 0.15 1.09
Voyager Resources Ltd VOR AU Equity AUD 0.002 0.00 -50.00 2.5 2.84 0.01 0.00 1.09
East Asia Minerals Corp EAS CN Equity CAD 0.030 -14.29 -25.00 0.0 3.03 0.13 0.03 1.09
Erdene Resource Development Corp ERD CN Equity CAD 0.135 -10.00 -3.57 0.7 9.24 0.26 0.07 1.09
Modun Resources Ltd MOU AU Equity AUD 0.004 0.00 0.00 23.2 4.67 0.01 0.00 1.09
Kincora Copper Ltd KCC CN Equity CAD 0.050 0.00 100.00 10.6 13.94 0.09 0.02 1.09
General Mining Corp Ltd GMM AU Equity AUD 0.012 0.00 -29.41 0.3 1.48 0.03 0.01 1.09
Draig Resources Ltd DRG AU Equity AUD 0.017 0.00 -51.43 0.4 1.03 0.04 0.01 1.09
Newera Resouces Ltd NRU AU Equity AUD 0.002 0.00 -66.67 1.1 2.16 0.01 0.00 1.09
Blina Minerals NL BDI AU Equity AUD 0.001 0.00 0.00 1.0 1.32 0.00 0.00 1.09
Source: Bloomberg
MONGOLIAN STOCK MARKET
10 September 2014 17 JSC's 40,583 shares worth 8.24 mln MNT have been
traded.
TOP20 index was 15,914.41 -0.21% YTD -2.38%
Company name Trade volume
Trade
value '000
Last Chg day Chg day %
Buy
volume
Buy price Sell price Sell volume
MRX 31,930 3088 96.72 7 7.44% 2480 90 97 19370
BUK 50 2174 43480 1480 3.52% 25 42840 48320 1
MCH 788 1143 1450 -149 -9.32% 100 1400 1495 300
JTB 5,000 420 84 0 -0.06% 60 80 83.9 3500
TCK 19 386 20300 0 0.00% 138 20300 20500 10
TTL 71 369 5200 0 0.00% 265 5200 5240 135
HGN 2,500 278 111 -6 -5.13% 0 0 117 2300
MBG 18 135 7500 0 0.00% 32 7500 8500 103
GOV 10 80 7980 80 1.01% 2 7950 8000 111
MMX 20 63 3170 -30 -0.94% 113 3100 3200 162
ECV 8 32 4000 -500 -11.11% 92 4000 0 0
ASA 2 19 9500 -900 -8.65% 0 0 9300 73
TVT 1 15 14990 0 0.00% 0 0 14990 3
BLC 18 14 798 3 0.38% 10 798 0 0
ETR 130 12 93.9 0 0.00% 300 91 93.9 833
GTJ 3 11 3600 0 0.00% 0 0 3600 188
RMC 15 2 150 0 0.00% 1000 135 150 975
Change day
30 day graphic
3
0
2013.06 2702.1
2013.06 7591
13606.65
43480
11 September 2014
Diclaimer
This document has been prepared by the investment banking division of Golomt Bank 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 Bank, 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.
Investment Banking Division of Golomt Bank

The principal activities of Investment Banking Division constitute structuring, sourcing, negotiating and closing debt and equity financings
as well as the provision of incisive advisory services for private and public companies as well as institutions, public sector agencies and
authorities.

Our vision is to fuel the profitable growth of our valued clients by providing the highest-quality investment banking services, and in so
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Contact

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