Daily Business News Mongolia

Weekly stock review

During the week of 08-12 of December, 663.9 thousand shares of 32 SHCs were sold at MSE totaling 175.1 million MNT. In the primary market 67.4 thousand Remicon shares were sold totaling 6.7 million MNT and 601 Monfresh shares were sold totaling 60.1 thousand MNT.Index top – 20 was 5756.93 units and decreased by 372.9 units or 6.1% if compared to last week. Total market capitalization was set at 527.7 billion MNT.

Shares of 32 SHCs were traded and share price of 7 SHCs were increased, share price of 18 SHCs were decreased but share price 7 SHCs were unchanged. Shares which prices were dropped are; Bayangol hotel (by -17.1%), Gobi (by -15.8%), Darkhan (by -15.0%), Mongolia telecom (by -12.2), Baganuur (by -10.5%). (more…)

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Mongolia launches plan to stabilize banks

Mongolia launched an effort Friday to stabilize its banks with injections of government money after jittery depositors staged a series of small bank runs and regulators seized one troubled institution.

Parliament enacted a law Thursday authorizing the central bank to inject 455.1 billion tugrik ($362 million) into banks. It took effect Friday and regulators were reviewing which of the country’s 16 commercial banks need money.

This vast, sparsely populated North Asian nation of about 3 million people has been battered by plunging prices for copper, its main export. Depositors pulled money out of banks for fear they might collapse. (more…)

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Mongolia Development Fund money is to be placed at Combanks.

The State Great Khural approved the amendment in the law of Mongolia Development Fund in its afternoon session of last Friday. Therefore, 455,1 billion MNT of Mongolia Development Fund will be placed at Combanks.

Combanks can get money from the Mongolia Development Fund based on the fulfilling certain requirements and criteria of the Bank of Mongolia. (more…)

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Financial Regulatory Committee suspends the trading of Anod bank stock

Financial Regulatory Committee (FRC) has suspended the trading of Anod bank stock at MSE from 11th of December 2008. This was based on the official notice No172 and the notice is directly related to Mongolia central bank’s management control over Anod bank.

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Daily stock news: 63.3 thousand shares were sold at MSE

63.3 thousand shares of 10 SHCs were sold at MSE totaling 11.2 million MNT trade. 26.9 thousand Remicon shares were sold at the primary market. 20.0 thousand Hermes center shares were sold and it was the most actively traded share at the stock market. In comparison to the previous day’s trade, share price of Baganuur was decreased by 10.53%, share price of APU by 8.89% and share price of Makh impex by 4.25% respectively.

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Resolution of the Financial Regulatory Committee

Resolution of the Financial Regulatory Committee

2008.12.08                                                                                   No. 266

On some measures to protect interests of Shareholders and Investors

This is TO DECREE the following by the Financial Regulatory Committee on the ground of 4.1 and 6.1.1 of Law on the Legal status of the Committee on Financial Regulations and 34.1.3 of the Law on Securities market:
1. This is to set the following rules on trading of stocks of companies that become shareholding companies by issuing IPO /Initial Public Offering/ since April 28, 2005 in order to protect interests of shareholders and investors on the 9th of December 2008: (more…)

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135.6 thousand shares were sold at the MSE

135.6 thousand shares of 18 SHCs were sold at the MSE totaling 42.5 million MNT trade. 21.2 thousand Remicon shares were sold at the primary market. 44.7 thousand shares of Hermes center were sold and it was the most actively traded share at the stock market. In comparison to the previous day’s trade, share price of Dornod was increased by 14.96% and share price of Anod bank by 14.90% but share price of Mongeo was decreased by 13.18% and share price of NIK by 6.25%. (more…)

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Mongolia encourages more firms to offer new shares in HK

Dec. 8, 2008 (China Knowledge) - Mongolia, a North Asian country with rich natural resources, expected to attract more investment from Hong Kong next year, sources reported, citing the country’s president Nambaryn Enkhbayar as saying.

By listing in Hong Kong Stock Exchange (HKEx), which posted a trading volume of US$12 billion in 2007, will be able to help the Mongolian enterprises, especially in the mining sector, diversify their financing channels amid the tight credit policy at home and help them expand further, said the president when attending a conference in Hong Kong.
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110.5 thousand shares were sold at the MSE

110.5 thousand shares of 16 SHCs were sold at the MSE totaling 21.0 million MNT trade. 3.7 thousand Remicon shares were sold at the primary market. 76.8 thousand shares of Hermes center were sold and it was the most actively traded share at the Stock market. (more…)

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Weekly Stock review

During the week of November 01-05 2008, 575.4 thousand shares of 34 SHCs were sold at the MSE totaling 85.8 million MNT. In the primary market, 90.4 thousand Remicon shares were sold totaling 9.0 million MNT and 1.7 thousand Monfresh shares were sold totaling 172.9 thousand MNT. (more…)

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