Daily Business News Mongolia

Leighton to Sell A$700 Million Shares to Expand

Bloomberg reports that,

Aug. 14 (Bloomberg) — Leighton Holdings Ltd., Australia’s largest engineering and construction company, plans to raise A$700 million ($609 million) selling shares to expand contract mining in India, Indonesia and Australia.

Leighton, which gets about a quarter of its sales operating mines for companies such as BHP Billiton Ltd., will sell stock to shareholders at A$35.35 apiece, 17 percent less than its close yesterday, the Sydney-based company said in a statement.

Chief Executive Officer Wal King, 64, forecast profit will rise at least 15 percent this year as a resources boom continues into the next decade. Demand for coal and iron ore sent prices to records this year, encouraging investment in new mines in Asia. (more…)

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Leighton looks to expand into Mongolia, Siberia

Reuters reports that,

MELBOURNE, Aug 14 (Reuters) - Leighton Holdings Ltd (LEI.AX: Quote, Profile, Research, Stock Buzz), Australia’s largest engineering contractor, said it is looking to expand into mining contract work in Mongolia and Siberia.

“We’re seriously looking at Mongolia as an area of opportunity,” Leighton Chief Executive Wal King told reporters.

“We’ve also been in engaged in discussions with the Basic Elements group in Russia, Oleg Deripaska, to look at mining opportunities in Siberia.” (Reporting by Sonali Paul)

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Mongolia-Japan businessmen gather again

Mongolia-Japan government and private business consultative meeting II is to be held in UB in the upcoming month. The first consultative meeting was held on last November in Tokyo. Initiated and organized by the Ministry of Industry and Commerce, this business consultative meeting aims to bridge businessmen and increase trade turnover of two countries. With reference to the upcoming II consultative meeting, representatives of Mongolian Private Sector held a meeting with the MIC and its Agency for Foreign Investment today, discussing and consulting on how to attend the consultative meeting and how to achieve the desired results in the MIC. Private sector representatives highlighted the roles of the two institutions on identifying ways of integrating business interests. (more…)

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The Best Companies of Mongolia 2007

Since 1997 the Mongolian National Chamber of Commerce and Industry with a purpose to support and encourage its member companies and the whole trade and manufacturing sector of Mongolia has been organizing annual award ceremony named “ Entrepreneur”.

Criteria for best companies:

• Product development

• Creation of new job places

• Import substitution by internal resources

• Export increase

• Efficient marketing activities on domestic and foreign markets

• Introduction of hi-tech and know-how

• Creation of eco-friendly environment

• Introduction of advanced management forms

The Grand Prix Company, the Best Entrepreneur of the Year, the Best Domestic and Foreign Investors, the Best manager of State property, the Reliable Marketer of Consumers, the Best Portfolio Investor, the Best Eco green Businessmen, the Best Business Publicist are all awarded from the ceremony.

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The Best Companies of Mongolia 2006

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The Best Companies of Mongolia 2005

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The Best Companies of Mongolia 2004

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The Best Companies of Mongolia 2003

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The Best Companies of Mongolia 2002

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The Best Companies of Mongolia 2001

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