WORLD INDICES

Change %
(Day)
YTD change %
MSE - Top20 MN 15,953.84 -1.01 -2.13
DJIA US 17,279.74 0.08 4.24
S&P 500 US 2,010.40 -0.05 8.77
Nasdaq US 4,579.79 -0.30 9.65
S&P/TSX comp CN 15,265.35 -1.29 12.07
FTSE 100 UK 6,837.92 0.27 1.32
S&P/ASX 200 US 5,402.40 -0.56 0.94
Hang Seng HK 24,306.16 0.57 4.29
Bloomberg/asia.pac ASIA 176.67 -0.10 5.07
COMMODITY PRICES
Change %
(Day)
YTD change %
Prime Coking Coal /Tianjin 140.04 0.00 -26.50
Zinc Spot /LME 2,264.50 0.34 10.30
Iron Ore 58% /Tianjin 72.70 0.00 -39.42
Copper Spot /LME 6,883.25 -0.05 -6.68
Oil 92.41 -0.71 -6.11
Gold Spot /LME 1,215.84 0.01 1.18
Silver Spot /LME 17.55 -1.61 -9.89
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 98.13 6.579 3/21/2017
MMC bond - 8.875 600 66.25 28.617 3/29/2017
Mongol 2018 - 4.125 500 95.19 5.589 1/5/2018
Mongol 2022 - 5.125 1,000 89.14 6.774 12/5/2022
TDBM 2015 - 8.5 300 99.88 8.627 9/20/2015
TDBM 2015 - 12.5 25 99.25 12.945 11/17/2015
TDBM 2017 - 10 dim sum 115 97.34 11.017 1/21/2017
DBM bond - 1.52 sam. 290 102.84 1.187 12/25/2023
INDICES CHANGE
MSE TOP 5 MOST TRADED
Trade value '000
MONGOLIAN RELATED NEWS
President of Mongolia meets World Bank officials
On Thursday, President Ts.Elbegdorj met with the World Bank's new Country Director for China,
Mongolia and Korea in the East Asia and Pacific Region Bert Hofman and World Bank Country
Representative for Mongolia James Anderson. Bert Hofman has recently been appointed as the
World Bank's Country Director for China, Mongolia and Korea in the East Asia and Pacific Region.
James Anderson was appointed as the World Bank Country Representative for Mongolia in August.
The World Bank officials presented their missions and spoke about collaborating effectively on
projects and programs, as the World Bank has in the past. President Ts.Elbegdorj stressed that
Mongolia is striving to make medium-term economic risk regulations. The President added that
Mongolia is taking certain measures to make assessable economic growth, provide sustainability to
the macro economy, attract more foreign direct investment, and formulate related laws and
regulations. (Source: http://english.news.mn/content/189755.shtml)
Korea, China, Russia, Mongolia To Create Economic Cooperation Organization In Northeast
Asia
Korea, China, Russia, and Mongolia have agreed to form an international organization for economic
cooperation within the region of Northeast Asia. Accordingly, at the next summit to be held in Korea,
the international organization establishment agreement will be signed. The Ministry of Strategy and
Finance announced on Sept. 18 that participating countries of the Greater Tumen Initiative (GTI)
agreed to transform GTI into an international organization to initiate economic cooperation in
Northeast Asia by 2016. This summit was held in Yanji, China on Sept. 17. These four countries
agreed to develop transportation in land and sea routes, facilitate the trading among Northeast Asian
countries, solve the power transmission problems and analyze the business feasibility of coal
extracted synthetic natural gas supply through a joint statement. On this day, an inaugural assembly
of Northeast Asian Export-Import Banks Council in which export-import banks of four countries
participated was held to adopt a basic agreement on cooperation among the banks for joint project
explorations and supportive loans. (Source: http://www.businesskorea.co.kr/article/6416/greater-
tumen-initiative-korea-china-russia-mongolia-create-economic-cooperation#sthash.HkwaCSSw.dpuf)
WPP firm acquires majority stake in Mongolian ad agency
The world's biggest advertising group, WPP, has extended its reach after one of its firms acquired a
majority stake in a Mongolian ad agency. The terms of the deal for WPP subsidiary Y&R to buy
control of MCS Holding's Creative and Research Unit were not disclosed. WPP said it wanted to
move into Mongolia to make itself more attractive to global clients. The group now operates in 111
countries. "All the brands we work with are already there [in Ulan Bator]," Y&R Asia President
Matthew Godfrey said. "If we want to partner globally with our clients we have to go where they are."
While the scale of the advertising market in Mongolia is relatively small compared with the rest of
Asia, the market is growing fast, Godfrey said. The Mongolian economy in general is forecast to grow
9.5 percent in 2014, and 10 percent in 2015, according to the Asian Development Bank. In 2013 one
of the main contributors to growth was domestic consumption. Over the next five years WPP wants at
least 40 percent of revenues to come from "fast-growth markets and new media", it said. (Source:
http://www.thedailystar.net/business/wpp-firm-acquires-majority-stake-in-mongolian-ad-agency-
42765)
TNS becomes the first international research consultancy to establish a presence in Mongolia
TNS today announced that it would be establishing a presence in Mongolia, in partnership with Y&R
Advertising. TNS CEO APAC, Chris Riquier said, Mongolia presents a strong opportunity for our
clients, who are keen to understand more about their consumers. We were the first international
research consultancy in many markets across the region, including Myanmar in 2013, and we are
pleased to partner with Y&R to be first to establish a presence in Mongolia. The agencys existing
clients, including MCS APB, Herbalife, JTI and Dell, will benefit from both Y&Rs and TNSs global
networks and solutions. Y&R will lead the advertising agency, whilst the research business will
become an affiliate of TNS. (Source: http://www.tnsglobal.com/press-release/tns-becomes-first-
international-research-consultancy-establish-presence-mongolia)
GLOBAL NEWS
Asian Stocks Fall as SoftBank Slides; Kiwi Advances
Most Asian stocks fell, as SoftBank Corp. drove Japans Nikkei 225 Stock Average lower after
Alibaba (BABA) Group Holding Ltds U.S. trading debut. New Zealands shares and currency gained
after the government was returned in an election, while Brent crude fell with copper.The MSCI Asia
Pacific Index dropped 0.1 percent by 9:59 a.m. in Tokyo, with the Nikkei 225 declining the first time in
three days as SoftBank, Alibabas biggest shareholder, slid the most in a month. Standard & Poors
500 Index futures lost 0.1 percent. Economists project a private gauge of Chinese manufacturing due
tomorrow may drop for a second month, with Finance Minister Lou Jiwei saying growth in Asias
largest economy faces downward pressure. (Source: Bloomberg)
2014-09-22
22 September 2014
Daily Report
Performance
Last Country Index
Indicator
Performance
Last
USD
Commodity
NEWS & ANALYSIS
-2.13
4.24
9.65
12.07
1.32
0.94
4.29
2.59
-0.34
YTD %
-1.01
0.08
-0.30
-1.29
0.27
-0.56
0.57
0.01
-0.52
MSE - Top20
DJIA
Nasdaq
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
DAX
Nikkei 225
Change % (Day)
24
74
4,370
69
27
138
0 2,000 4,000 6,000
EER
GOV
HRM
JTB
MIB
MNH
3.46%
0.00%
-7.01%
-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 | 2014.09.22

22 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 3.870 -1.78 17.27 28,788.6 7,787.60 4.36 3.01 1.00
Centerra Gold CG CN Equity CAD 5.390 -3.06 24.77 5,718.4 1,164.17 6.90 2.82 1.09
MMC 975 HK Equity HKD 0.810 0.00 -21.36 3,592.5 387.18 1.55 0.48 7.75
Denison Mines Corp DML CN Equity CAD 1.390 0.72 7.75 3,523.4 641.91 1.95 1.01 1.09
Winsway Coking Coal Holdings Ltd 1733 HK Equity HKD 0.385 0.00 -21.43 72.3 187.41 0.69 0.31 7.75
MoEnCo 276 HK Equity HKD 0.227 0.00 -6.58 0.0 197.87 0.29 0.15 7.75
SouthGobi Resources 1878 HK Equity HKD 4.760 0.00 -30.81 36.3 115.03 9.90 4.38 7.75
Central Asia Metals PLC CAML LN Equity GBp 168.000 -3.45 19.15 1,889.9 302.96 190.00 125.00 0.61
Mongolia Investment Group Ltd 402 HK Equity HKD 0.200 0.00 -31.03 484.5 172.76 0.43 0.16 7.75
Mongolia Growth Group YAK CN Equity CAD 2.020 -2.42 -11.01 20.8 64.13 3.07 1.71 1.09
North Asia Resources Holdings Ltd 61 HK Equity HKD 0.169 0.00 -7.14 141.1 76.31 0.21 0.10 7.75
Guildford Coal Ltd GUF AU Equity AUD 0.056 0.00 -32.42 1.6 42.27 0.14 0.05 1.12
Origo Partners PLC OPP LN Equity GBp 7.875 0.00 6.78 209.9 45.88 9.50 6.63 0.61
Entree Gold Inc ETG CN Equity CAD 0.280 3.70 -9.68 1.3 37.60 0.53 0.27 1.09
Aspire Mining Ltd AKM AU Equity AUD 0.052 0.00 -7.14 #VALUE! 32.62 0.08 0.03 1.12
Prophecy Coal Corp PCY CN Equity CAD 0.065 -7.14 -18.75 17.6 14.96 0.13 0.04 1.09
FeOre Ltd FEO AU Equity AUD 0.055 0.00 34.15 3.9 25.99 0.08 0.03 1.12
Petro Matad Ltd MATD LN Equity GBp 3.125 0.00 -16.67 0.0 14.26 11.50 2.63 0.61
Xanadu Mines Ltd XAM AU Equity AUD 0.130 0.00 160.00 0.0 28.04 0.18 0.03 1.12
Haranga Resources Ltd HAR AU Equity AUD 0.031 0.00 -50.00 17.2 6.69 0.09 0.03 1.12
Wolf Petroleum Ltd WOF AU Equity AUD 0.055 0.00 -21.43 4.9 12.86 0.09 0.03 1.12
Manas Petroleum Corp MNAP US Equity USD 0.120 -7.69 75.18 24.2 20.71 0.17 0.04 1.00
Khan Resources Inc KRI CN Equity CAD 0.380 0.00 33.33 4.0 23.65 0.45 0.16 1.09
Voyager Resources Ltd VOR AU Equity AUD 0.002 0.00 -50.00 2.7 2.77 0.01 0.00 1.12
East Asia Minerals Corp EAS CN Equity CAD 0.030 -14.29 -25.00 0.1 2.95 0.11 0.03 1.12
Erdene Resource Development Corp ERD CN Equity CAD 0.145 0.00 3.57 1.4 9.93 0.26 0.07 1.09
Modun Resources Ltd MOU AU Equity AUD 0.004 0.00 0.00 0.5 5.79 0.01 0.00 1.12
Kincora Copper Ltd KCC CN Equity CAD 0.050 11.11 100.00 0.3 13.95 0.09 0.02 1.09
General Mining Corp Ltd GMM AU Equity AUD #N/A N/A #N/A N/A #N/A N/A #VALUE! #VALUE! 0.03 0.01 1.12
Draig Resources Ltd DRG AU Equity AUD 0.017 0.00 -51.43 0.0 1.01 0.04 0.01 1.12
Newera Resouces Ltd NRU AU Equity AUD 0.003 0.00 -50.00 18.8 3.16 0.01 0.00 1.12
Blina Minerals NL BDI AU Equity AUD 0.001 0.00 0.00 1.2 1.33 0.00 0.00 1.12
Source: Bloomberg
MONGOLIAN STOCK MARKET
21 September 2014 19 JSC's 47,623 shares worth 28.31 mln MNT have been
traded.
TOP20 index was 15,953.84 -1.01% YTD -2.13%
Company name Trade volume
Trade
value '000
Last Chg day Chg day %
Buy
volume
Buy price Sell price Sell volume
APU 300 1,112 3707 47 1.28% 15 3700 3800 900
BAN 12 44 3700 0 0.00% 355 3500 3700 29
EER 10 24 2390 80 3.46% 100 2250 2390 90
GOV 9 74 8200 0 0.00% 160 8000 8200 59
HRM 27,640 4370 158.1 -12 -7.01% 100 150 170 9519
JTB 860 69 80 -2 -2.44% 0 0 82 3735
MIB 100 27 270 0 0.00% 1000 230 269 3000
MNH 25 138 5500 40 0.73% 0 0 0 0
RMC 11,163 1472 131.82 -12 -8.46% 2000 120 150 4975
SOR 4,355 10665 2449 301 14.01% 100 2200 2495 30
TAV 1 28 27760 3620 15.00% 25 21000 27760 6
TCK 10 200 20000 -500 -2.44% 30 20000 21000 144
TTL 1,102 5719 5190 -310 -5.64% 400 5180 5400 14
UID 596 335 562 -58 -9.33% 1000 565 629 50
CHR 1,000 2550 2550 -450 -15.00% 0 0 0 0
HAM 15 65 4300 -200 -4.44% 0 0 4300 85
HSR 85 383 4500 458 11.33% 15 4100 4650 10
MMX 300 975 3250 -30 -0.91% 150 3210 3288 5
NXE 40 64 1600 0 0.00% 10 1360 1600 65
30 day graphic
Change day
3
-1
2013.06 2702.1
2013.06 7591
13606.65
3750
22 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
doing create an environment which will lead to long term, mutually beneficial relationships. We strive to achieve these lasting
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Contact

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