Mongolia Business and Mongolian Daily Business News

APU JSC has held its financial meeting yesterday and has decided to give out MNT 1.4 billion of dividends to its shareholders. APU JSC has 3.5 thousand shareholders and according to MSE, APU distributed dividends to its shareholders on time for 5 years running.

In the year 2010, APU’s target is to increase production and profit. They are to finish all factory expansions and to produce products with 70-100 percent output. Also, USD 35 million will be invested into machinery and technology this year alone. Read the rest of this entry »

Last Friday, 571,098 shares of 19 companies were sold at MSE, totaling sales of ₮411,235,647. TOP 20 Index has gained 4,8%, reaching 8507,89 points. It has been gaining since the New Year.
APU share gained 15%, reached ₮1150. But Genco Tour Bureau slumped by 2.5%, ₮120. Most sold shares were Khukh Gan, Naco Fuel and Shivee Ovoo.

Mr. Claus Roland is appointed as the Director and Country Resident Representative of World Bank for Mongolia He is also in charge of affairs of Republic of Korea and China. Before appointed for Mongolia, he was Country Director for Russian Federation. Mr. Roland is German and has been service for World Bank since 1981, missions in South America, East Europe and Asia.

He was in charge of China since mid 1990s. Mr. Claus Roland will pay visit to Mongolia in March or April.

3 stock trades were held during the week of 17-19th of February. 291.9 thousand shares of 24 JSCs were sold at MSE totalling 582.9 million MNT. Index top 20 reached 6890.08 units and were increased by 249.29 units or 3.8 percent. The total market capitalisation reached 668.3 billion MNT.

Shares of total 24 JSCs were traded; share prices of 17 JSCs were increased, share price of 1 JSC was decreased but 6 JSCs were unchanged. Shares which prices were increased are Shariin gol (31.6 percent), Talkh Chikher (25.0 percent) and Aziik (15.0 percent) but share price of Suu JSC was decreased by 14.7 percent. Read the rest of this entry »

67.9 thousand shares of 14 JSCs were sold totaling 55.6 million MNT trade. 56.3 thousand Khukh gan JSC shares were sold and it was the most actively traded stock. In comparison to the previous day’s trade, share price of Aziik JSC was increased by 15.0 percent but share price of Baganuur JSC was decreased by 3.13 percent. Index top 20 dropped to 6890.08 units with a decrease of 3.14 units if compared to the previous trading session. Additionally, no government or private bonds were sold today, at MSE.

213.5 thousand shares of 12 JSCs were sold at MSE totalling 515.1 million MNT trade. Index top 20 reached 6893.22 units and were increased by 150.96 units. Shares of Shariin gol JSC was the most actively traded. In comparison to the previous day’s trade, share price of Shariin gol JSC was increased by 14.94 percent, Talkh chikher JSC by 15.0 percent and Bayangol hotel by 10.53 percent respectively. No government and private bonds were traded.

Today’s trading session is recorded as the most actively traded session since the year 2008. The economic recession lead to the stock exchange downturn. The officials explain that trading worth of over 500 million MNT was last seen in the year 2008.

68.5 thousand shares of 21 JSCs were sold at MSE totaling MNT 25.3 million. Index top 20 reached 6572.91 units and were decreased by 63.77 units. 30.7 thousand shares of Khukh gan JSC was sold and it was the most actively traded share at MSE. In comparison to the previous day’s trade, share price of Erdenet carpet JSC was increased (14.89 percent) but share prices of HB oil (-13.0 percent) and Monnoos JSCs (-8.33 percent) were decreased.

AICG and three partners will open an AICG branch in Ulaanbaatar Mongolia that will focus on providing capital for investment.

Beijing, China, February 02, 2010 –(PR.com)– The American Independent Capital Group, Inc (AICG) and a group of three other individuals reached agreement on January 14, 2010 to open a branch office of AICG in Ulaanbaatar, the capital of Mongolia. AICG expects the new location to be operational in March of 2010. AICG is an international company that provides assistance to enterprises seeking capital funding for business projects.

AICG will own 51% of the new enterprise. The remaining 49% is owned by Ms. Si Qin, a Mongolian citizen, Mr. David Borjiking, a Mongolian residing in the United States, Mr. HaSi Bateer, a Chinese citizen and ethnic Mongolian, and Mr. Chen, a Chinese citizen. AICG and its partners believe that now is the right time to enter into a market that is expected to be a hotbed of international investment in the near future. Read the rest of this entry »

President Ts.Elbegdorj met with Mr. Caio Koch-Weser, Vice Chairman of the Deutsche Bank Group, during Davos Summit.

Mr. Caio Koch-Weser is a former the Deputy Minister for Finance of Germany and a leading economist of Germnay. He conveyed the request of Deutsche Bank in becoming strategic partner of Mongolia to the President of Mongolia.

President Elbegdorj expressed his gratitude to Deutsche Bank for investing in and providing consultancy to Mongolia and requested to assist Mongolia in training its youth in banking and financial sectors, especially in bond trading. Read the rest of this entry »

Today, 73.6 thousand shares of 13 JSCs were sold at MSE totaling 14.6 million MNT. Index top 20 is 6442.95 units and was decreased by 9.29 units. 41.4 thousand shares of Moninjbar JSC were sold and it was the most actively traded stock at MSE. In comparison to the previous day’s trade, share price of Bayangol hotel was increased by 11.70 percent but share price of Erdenet carpet was decreased by 14.49 percent.