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
1,938.50
293.35
29.42
2,135.58
18.94
1.1009
102.36

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
293
500
1,000
151
500
106
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
104.10
96.33
79.31
91.65
102.53
100.35
97.25
22.75

MN
US
US
US
UK
AUS
CN
RUS
RUS
ASIA

Last
12,078.96
18,011.07
2,113.32
14,131.38
6,338.10
5,113.20
19,957.26
1,919.27
2,865.22
163.34

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
4,776.50
47.68
1,323.95
17.73
USD
54.85
64.00

%MoM

0.86
1.36
2.76
3.36
-0.71
-2.38
1.76

Last

World Indices
Index

%WoW

0.05
0.40
3.43
3.29
-3.59
-3.30
3.71

3.40
4.21
2.97
4.58
-3.77
-1.18
7.45

Yield

Maturity
date

6.445
0.926
6.227
9.364
12.026
10.029
8.710
10.244
352.434

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%
-0.40
-6.35
1.29
3.36
1.34
3.39
0.91
8.62
1.23
1.53
-3.17
-3.45
-4.37
-8.93
0.00
8.97
-0.92
-19.04
-3.57
-10.34

Performance
%DoD
YTD%
1.79
1.50
-4.85
28.73
5.34
24.77
2.56
28.06
%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

6/24/2016

News
Aspire signs blending initiative with Mongolia's Tavan Tolgoi coal mine
Aspire Mining Limited (ASX: AKM) announced that it has entered into a
Memorandum of Understanding with Erdenes Tavan Tolgoi JSC (ETT), a
Mongolian Government controlled entity that owns the world class Tavan Tolgoi
Coal Mine, to cooperate on further technical and commercial assessments of
blending Aspires Ovoot Coking Coal with various coals from the Tavan Tolgoi
deposit. Under the MOU, Aspire and ETT have agreed to share data and samples
for further evaluation and to establish a technical and commercial working group
to prepare a feasibility study into the blending of Ovoot Coking Coal, Tavan Tolgoi
non-coking coals and potentially other suitable Mongolia coals in a coal blending
facility with a capacity of 8 to10 million tonnes per annum.

Aspire Mining Limited News Releases

Mongolias Development Bank becomes partner of SCO Interbank
Consortium
Mongolias Development Bank became a partner of the Interbank Consortium of
the Shanghai Cooperation Organization (SCO IBC) according to a decision made
at a meeting of the SCO IBC Council in Tashkent June 23. During the meeting,
chaired by Uzbekistans National Bank for Foreign Economic Activity, the Council
members also discussed the elaboration of the SCO IBC development strategy for
2017-2021, more active cooperation with the Silk Road Foundation, and the
cooperation with international financial organizations operating in the SCO area.
http://en.trend.az/casia/uzbekistan/2549510.html
Ard Financial Group JSC acquires "Altanhoromsog" brokerage firm
Ard Financial Group JSC has purchased AltanHoromsog brokerage company
registered on the Mongolian Stock Exchange (MSE); one of the first brokerage
companies, which is running stable for 25 years since its establishment, and
AltanHoromsog is merging with Ard Securities Brokerage Company, 100 percent
of its stake owned by Ard Financial Group JSC.
http://ardholdings.com/en/ard-financial-group-jsc-purchased-and-acquiredaltanhoromsog-brokerage-company/
MSE: Trade volume rose 7.4 times
Mongolian Stock Exchange trade volume rose 7.4 times compared to week earlier
reaching MNT298.82 million this week. "Mongol Savkhi" JSC (MSE:UYN) rose the
most, by 61.97% to MNT810. During this week, food manufacturing shares were
traded the most in terms of quantity and volume.
http://www.marketinfo.mn/news/detail/802
World News
U.K. Votes for Brexit in Historic Rupture of Postwar Order
The U.K. voted to quit the European Union after more than four decades in a
stunning rejection of the continents postwar political and economic order,
sending shock waves around global markets. The pound plunged to the lowest
since 1985, Asian stocks tumbled and U.S. Treasuries surged in one of the most
dramatic 24 hours in modern British history. The final tally, announced just after 7
a.m. London time, showed voters had backed Leave by 51.9 percent to 48.1
percent.
http://www.bloomberg.com/news/articles/2016-06-24/u-k-votes-for-brexit-inrupture-with-european-order-bbc-says

24 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
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

31.090
13.800
3.420
3.420
0.140
0.077
7.220
1.430
0.166
0.580
6.730
144.000
0.305
0.205
0.009
0.653
0.006
1.860
2.925
0.340
0.790
0.030
0.002
0.014
0.021
0.079
0.015
0.026
0.026

Currency

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

%DoD

YTD %

2.47
-3.50
2.09
-2.29
0.00
-9.41
0.14
-4.83
3.36
3.61
0.30
0.00
-0.13
2.50
-22.22
0.00
0.00
0.00
9.35
0.00
-6.37
0.00
0.00
0.00
0.00
-3.75
0.00
0.00
-3.85

6.77
13.83
34.65
-36.95
-22.22
-56.00
9.56
-42.50
-9.04
16.47
-38.73
-6.11
29.31
86.36
0.00
161.93
-25.00
-46.86
-6.40
106.25
188.24
50.00
-50.00
225.00
25.00
71.11
50.00
16.87
0.82

Daily Traded
value USD

Traded
Avg. 5 day traded
Volume Day
volume

5,117,077
158,227,600
46,082,679 117,230,300
2,451,408
8,462,182
19,430
73,894
5,001
771
10,341,500
107,985
1,062,614
7,670,837
64,700
11,370
746,750
15,670
169,106
97,697
77,030
519,213
48,047
95,770
51,218
15,726
10,529
1,569
517,939
2,636
1,000
653
1,255,265
5,552
4,760
6,779
2,232,237
0
73,999
19,271
1,906,296
1,060,352
256,483
6,023
333,333
491
1,864,167
16,945
638,277
9,410
131,000
7,275
70,000
807
38,000
728
31,857
589

4,240,383
86,442,080
3,544,629
2,166
1,457,575
5,280,602
147,410
813,673
235,253
64,167
208
191,627
49,278
1,020,395
20,600
275,085
6,382
172,344
62,204
1,629,766
84,621
18,800
283,208
58,790
67,861
11,745

Market cap
mln USD

56,115.22
1,510.17
6,882.12
1,442.87
23.97
91.91
1,747.31
45.83
37.07
309.47
165.76
219.43
46.55
77.25
12.39
54.92
4.11
5.27
11.49
29.60
172.40
7.24
0.58
2.98
3.70
6.82
1.03
1.90
1.97

52w high

44.190
19.891
3.980
8.879
0.210
0.425
8.670
5.900
0.480
0.799
14.748
186.000
0.400
0.260
0.042
0.670
0.022
7.500
9.875
0.550
0.905
0.055
0.018
0.036
0.022
0.098
0.030
0.037
0.035

52w low

21.885
10.911
1.550
3.260
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
0.110
0.040
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

12,128
459
1,950
2,400
38,000
1,830
135
8,345
16,300
72
2,600
70
1,450
19,100
25,700
530
324
63
3,773
2,656
89

%DoD

0.98
1.77
2.63
0.00
0.00
0.00
0.00
3.22
10.06
2.86
0.19
0.00
-0.28
0.10
0.00
7.55
0.00
0.00
0.00
10.67
0.00

23/06/2016

%YTD

Last Traded
date

Daily Traded
value USD

Traded
volume Day

Avg. 5 day value

USD

-6.35
14.99
-17.02
-0.36
-20.83
-5.62
4.07
-1.53
-9.59
-13.33
-11.94
-5.41
-50.95
10.99
-23.65
7.55
-22.86
-16.00
-2.05
-24.61
-25.83

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

3,330
1,303
334
340
362
21
54
501
79
334
1
-

8,474
5,505
332
79
43
573
40
670
8
1,223
1
-

10,512
5,445
70
336
771
1,383
172
80
389
2
727
363
218
6
29
142
-

Market Cap
USD

233,239,876
17,168,372
3,499,961
26,627,753
8,293,253
10,384,318
5,186,229
33,602,989
3,353,108
4,903,587
39,312,120
10,186,861
10,823,046
1,543,411
3,292,755
19,794,853
18,385,934
2,121,125

52w
high MNT

52w low
MNT

15,742
490
2,560
3,200
49,800
2,000
149
11,000
24,040
100
3,560
88
3,950
20,000
40,000
885
500
130
8,600
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
86

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:
Shivee Ovoo JSC
Darkhan Nekhii JSC
Losers:
Guildford coal / Terra Energy
Mongolian Mining Corporation

%
10.67
10.06

-22.22
-9.41

Latest News:
No news
No news

The company to issue the 5-year interest only bond with a face value of US$129M before the end of June, 2016
No news

24 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.