Daily Report

Mongolian Economic Indicators

Indicator
NGDP /bln. MNT/
RGDP /bln.MNT/
Inflation
Foreign reserve /mln. USD/
Policy rate
Trade balance /mln. USD/
Unemployment rate

Date
3/31/2016
3/31/2016
5/31/2016
4/30/2016
5/5/2016
5/31/2016
3/31/2016

Last
4,706
2,938
1.8
1,415.9
10.50
118.00
11.60

%YoY
2.00
3.10
-77.50
23.34
-2.50
2,581.82
56.80

FX Market
Currency
USD/MNT
CNY/MNT
RUB/MNT
EUR/MNT
JPY/MNT
EUR/USD
USD/JPY

Last
1,951.00
291.57
29.62
2,139.15
19.05
1.1030
101.79

Debt Markets
Bonds - Coupon
DBM bond - 5.75
DBM bond - 1.52 samurai
Mongol 2018 - 4.125
Mongol 2022 - 5.125
Mongol 2018 - 7.5 dim sum
Mongol 2021 - 10.875
TDBM 2017 - 10 dim sum
TDBM bond - 9.375
MMC bond - 8.875

Amt.
issued mln
USD
580
295
500
1,000
150
500
105
500
600

%DoD

MSE - TOP 20
DJIA
S&P 500
S&P/TSX comp
FTSE 100
S&P/ASX 200
Hang Seng
MICEX/ Moscow Index 50
Shanghai Composite Index
Bloomberg/Asia Pacific. World

Country

99.50
104.50
96.03
79.28
91.53
102.60
100.33
97.25
22.75

MN
US
US
US
UK
AUS
CN
RUS
RUS
ASIA

Last
12,168.63
17,140.24
2,000.54
13,689.79
5,982.20
5,085.90
19,898.75
1,841.73
2,895.70
164.73

Commodity Prices
Commodity
Copper Spot /LME
Oil
Gold Spot /LME
Silver Spot /LME
Iron Ore 58%/Tianjin
Prime Coking Coal/China Import
Prime Coking Coal China Import
from Mongolia price

USD
4,698.50
46.64
1,321.15
17.66
USD
54.85
64.00

%MoM

-0.69
0.35
0.31
0.66
-0.49
-0.78
0.42

Last

World Indices
Index

%WoW

-0.05
0.50
0.32
0.50
0.32
0.05
0.21

2.26
3.70
1.97
3.67
-5.96
-0.97
9.17

Yield

Maturity
date

6.451
0.872
6.672
9.393
12.118
10.054
8.778
10.244
356.638

3/21/2017
12/25/2023
1/5/2018
12/5/2022
6/30/2018
4/6/2021
1/21/2017
5/19/2020
3/29/2017

Performance
%DoD
YTD%
0.25
-5.65
-1.50
-1.63
-1.81
-2.12
-1.45
5.23
-2.55
-4.17
-1.00
-3.97
-1.62
-9.20
-2.26
4.56
1.45
-18.18
-0.47
-9.57

Performance
%DoD
YTD%
0.18
-0.15
0.67
25.92
-0.26
24.51
-0.48
27.50
%MoM
YTD%
-7.94
38.51
1.59
3.23

36.00

12.50
Coal/China
Import

Iron ore
Coal/China Import
from Mongolia

Copper

Gold

Oil

Source: Bloomberg Finance L.P.

2.86

NEWS & UPDATES

6/28/2016

News
FDI increases 8 times to US$397.7 million
As of May, 2016, current account deficit totaled US$11.0 million which is 95% or
US$212.3 million decline compared to year earlier. The change was mainly due to
increase of US$169.2 million or 31% in goods account surplus, and decrease of
US$78.6 million or 20% in income account deficit. Capital and financial account
had surplus of US$226.2 million bringing the positive change of US$42 million or
16% compared to previous year. Foreign direct investment funding had 8 times
or $455 million increase which offset the decrease of $494.6 million in other
investment funding.

https://www.mongolbank.mn/eng/news.aspx?id=1096
Mongolia Energy Corporation incurs loss of HKD553.5 million
As of March 31, 2016, Mongolia Energy Corporation (HKEx: 0276) incurred loss of
HKD553.5 million due to impairment loss on Khushuut coal mine of HKD613
million. Total revenue rose 12.7 times to HKD156.7 million. The company sold
233,200t of clean coking coal to China and 29,000t of thermal cocking coal to
Mongolia.
Bloomberg
Trading of "Ulaanbaatar-BUK" JSC resumes
As per reinforcement letter no.54 dated June 28th, 2016 of the Financial
Regulatory Commission, the Mongolian Stock Exchange duly conducted 100-for-1
stock split of "Ulaanbaatar-BUK" JSC and resumed trading of the company shares.
http://mse.mn/Newsmore/mn/event/3421
Market cap reaches 4-month high level
On June 27th, 2016, the TOP-20 Index rose 0.49% to 12,137.71 and MSE ALL
index increased 0.27% to 865.37. Market cap reached MNT1.48 trillion, highest
level since February, 2016.
http://www.marketinfo.mn/news/detail/807
World News
Fitch cuts UK credit rating by one notch to AA after Brexit vote
Fitch Ratings cut Britain's credit rating on Monday and warned more downgrades
could follow, joining Standard & Poor's in judging that last week's vote to leave
the European Union will hurt the economy.
Fitch downgraded the United Kingdom's sovereign rating to "AA" from "AA+" and
said the outlook was negative - meaning that it could further cut its judgment of
the country's creditworthiness.
http://www.reuters.com/article/us-britain-eu-fitch-idUSKCN0ZD2RD

28 June 2016

MONGOLIA RELATED COMPANIES

Company Name

Rio Tinto
Banpu
Turquoise Hill Resources
Areva
Tian Poh Resources
Mongolian Mining Corporation
Centerra Gold
SouthGobi Resources
Mongolia Energy Corporation
Denison Mines
Genie Energy
Central Asia Metals
Entre Gold
Xanadu Mines
Guildford coal / Terra Energy
Khan Resources
Aspire Mining
Prophecy Coal
Petro Matad Ltd
Mongolia Growth Group Ltd.
Erdene Resources Development
General Mining Corp Ltd
Kincora Copper
Haranga Resources
Wolf Petroleum
Viking Mines
Parmelia Resources
Altan Rio Minerals
Eumeralla Resources
Draig Resources

Closing
Price

28.010
14.500
3.140
3.120
0.140
0.084
7.530
1.420
0.163
0.520
6.520
138.000
0.280
0.195
0.007
0.653
0.006
1.880
2.675
0.465
0.325
0.720
0.030
0.002
0.013
0.020
0.071
0.015
0.026
0.025

Currency

%DoD

USD
THB
USD
EUR
AUD
HKD
CAD
HKD
HKD
USD
USD
GBp
USD
AUD
AUD
USD
AUD
CAD
GBp
CAD
CAD
AUD
CAD
AUD
AUD
AUD
AUD
CAD
AUD
AUD

-2.61
2.84
-2.79
-4.88
0.00
1.20
-1.05
4.41
3.36
-3.72
-0.76
0.00
-3.45
-2.50
0.00
0.00
0.00
0.00
-5.31
9.41
0.00
3.40
0.00
0.00
0.00
0.00
-7.79
0.00
0.00
0.00

YTD %

-3.81
19.60
23.62
-42.48
-22.22
-52.00
14.26
-40.83
-7.91
4.42
-40.64
-10.02
18.71
77.27
0.00
161.93
-25.00
-46.29
-14.40
36.76
93.75
198.04
50.00
-50.00
175.00
25.00
57.78
50.00
16.87
0.82

Daily Traded
value USD

Traded
Avg. 5 day traded
Volume Day
volume

5,710,233
160,172,200
47,241,825 116,400,700
3,076,533
9,645,645
24,227
86,537
5,001
772
1,263,500
13,626
1,893,106
14,183,770
212,050
39,699
295,500
6,204
624,913
328,015
48,465
315,159
47,981
88,477
79,985
23,269
2,551
376
1,531,481
9,795
1,000
653
10,000
44
2,410
3,414
1,060,814
0
6,135
0
206,150
48,678
450,841
244,184
111,680
2,568
365,122
538
70,000
567
190,000
2,799
200,347
10,476
29,372
338
38,000
728
31,857
589

5,382,841
2,576,797
35,691
1,038,800
1,669,945
37,470
293,600
251,052
94,029
40,144
143,186
61,039
224,821
400
165,133
5,065
1,650,904
45,522
58,968
774,942
171,922
73,024
423,366
150,575
45,200
11,500

Market cap
mln USD

52,133.53
1,591.27
6,318.67
1,318.63
24.01
100.26
1,822.33
47.15
37.53
277.45
160.59
203.83
42.73
73.42
12.38
54.92
4.10
5.31
10.18
21.84
27.72
178.10
7.22
0.57
2.52
3.70
6.28
1.02
1.90
1.97

52w high

42.610
19.701
3.870
8.879
0.210
0.390
8.670
5.900
0.460
0.768
14.748
185.500
0.400
0.260
0.042
0.670
0.022
7.500
9.875
0.940
0.550
0.905
0.055
0.017
0.036
0.022
0.098
0.030
0.037
0.035

52w low

21.885
10.911
1.550
3.050
0.140
0.026
5.510
1.240
0.107
0.350
6.271
121.250
0.170
0.073
0.002
0.237
0.005
1.000
1.875
0.330
0.110
0.041
0.015
0.002
0.004
0.008
0.020
0.010
0.019
0.015

Industry
Metals & Mining
Oil, Gas & Consumable Fuels
Metals & Mining
Electrical Equipment
Metals & Mining
Metals & Mining
Metals & Mining
Oil, Gas & Consumable Fuels
Oil, Gas & Consumable Fuels
Oil, Gas & Consumable Fuels
Electric Utilities
Metals & Mining
Metals & Mining
Metals & Mining
Oil, Gas & Consumable Fuels
Oil, Gas & Consumable Fuels
Metals & Mining
Oil, Gas & Consumable Fuels
Oil, Gas & Consumable Fuels
-
Metals & Mining
Metals & Mining
Metals & Mining
Metals & Mining
Oil, Gas & Consumable Fuels
Metals & Mining
Metals & Mining
Metals & Mining
Metals & Mining
Metals & Mining

Source: Bloomberg

MONGOLIAN STOCK MARKET - MSE TOP 20 INDEX

Company name

MSE TOP 20 Index

APU JSC
Arig Gal JSC
Baganuur JSC
Bayangol Hotel JSC
BDSec JSC
Hermes Center JSC
Gobi JSC
Darkhan Nekhii JSC
Jenco Tour Bureau
Makh Impex
Merex JSC
Tavan Tolgoi JSC
Talkh Chikher JSC
UB-BUK JSC
State Department Store JSC
HB Oil JSC
Khukh Gan JSC
Sharyn Gol JSC
Shivee Ovoo JSC
E- Trans Logistics JSC

Closing
Price
MNT

12,138
456
2,001
2,461
38,000
1,830
128
8,350
16,500
65
2,600
70
1,447
19,290
25,700
580
324
59
3,773
2,656
77

%DoD

0.74
1.79
2.62
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.96
0.00
0.00
0.00
0.00
1.75
0.00
-6.35
0.00
0.00
-13.48

27/06/2016

%YTD

Last Traded
date

Daily Traded
value USD

Traded
volume Day

Avg. 5 day value

USD

-5.65
18.07
-14.85
-0.36
-20.83
-5.62
5.69
-1.53
-9.59
-13.33
-8.45
-5.41
-50.95
10.99
-23.65
9.43
-22.86
-21.33
-2.05
-24.61
-35.83

6/27/2016
6/27/2016
6/27/2016
6/24/2016
6/24/2016
6/22/2016
6/24/2016
6/27/2016
6/27/2016
6/24/2016
6/27/2016
6/24/2016
6/24/2016
6/24/2016
6/3/2016
6/27/2016
6/15/2016
6/27/2016
6/21/2016
6/23/2016
6/27/2016

1,841
157
18
231
474
716
21
29
196

7,312
671
18
54
56
537
70
947
4,959

8,546
523
1
1,013
3
49
160
3
158
3
11
154
1
-

Market Cap
USD

232,227,544
17,515,296
3,568,488
26,457,150
8,240,118
10,317,786
5,233,516
33,387,695
3,331,625
5,065,031
39,060,248
10,121,595
10,942,364
1,533,523
3,063,934
19,668,028
18,268,135
1,823,373

52w
high MNT

52w low
MNT

15,507
490
2,560
3,189
49,800
2,000
149
10,400
24,040
99
3,560
87
3,950
20,000
39,600
885
500
130
7,310
5,500
120

10,485
325
1,800
1,350
36,000
1,300
105
7,010
14,510
60
2,202
68
100
15,000
25,000
480
324
55
2,000
2,190
77

Industry
MSE Top 20 Index
Beverages-Wine/Spirits
Wool
Coal
Hotels&Motels
Finance-Invest Bnkr/Brkr
Retail-Misc/Diversified
Apparel Manufacturers
Apparel Manufacturers
Travel Services
Food-Meat Products
Bldg Prod-Cement/Aggreg
Coal
Food-Baking
Bldg Prod-Cement/Aggreg
Retail-Misc/Diversified
Oil Refining&Marketing
Metal-Diversified
Coal
Coal
Transport-Services

Source: Bloomberg
Gainers:
Mongolia Growth Group Ltd.
SouthGobi Resources
Losers:
E- Trans Logistics JSC
Parmelia Resources

%
9.41
4.41

-13.48
-7.79

Latest News:
No news
Annual general meeting to be held on September 30, 2016

No news
No news

28 June 2016

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 exchan ges and
over-the-counter markets through our longstanding correspondent relationships with many of the world's leading banking instituti ons.

##### financial
10.5 solutions
-2.5
Our services offer the most comprehensive
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: info@golomtsecurities.com
Website: www.golomtsecurities.com
Find us on Bloomberg: GLM <GO>
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.