Share of GOBI CORPORATION is decreasing in last 9 months.

Sep 25 • Companies, Economy, News • 562 Views • No Comments on Share of GOBI CORPORATION is decreasing in last 9 months.

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Share of Gobi Corporation is decreasing since the beginning of 2008. The order to buy is also decreasing. People say that GOBI has been operating with loss since its privatization. The profit of the factory fell and its loss reached almost a billion MNT. It can be seen from the first half year report. Lets dig history. On December 2007, the Japanese consortium of “HS Securities” and “Toshisooken Invest” Bank won the tender bid and bought by 13.8 million US$. Therefore, many Mongolians believe that the State owned Factory which was in loss for long and undermanaged in the past could make some progress and benefit. It the result was in reverse. Gobi is still declining thanks to the failure of the new managers and the negative impacts of world market.
In the last spring, cashmere price fell drastically. Its price was 60-70 US$ and 22-26 thousand MNT in Mongolia. Some experts in cashmere industry explain that the Chinese producers and cashmere dealers have excess stock. Also this year cashmere demand decreased if compares with the previous years. Order which Chinese factories received this year, decreased by 20-30%.
On October 2007, right before the privatization of GOBI CORPORATION, share price was increased enormously. It reached 8000 MNT. But as for today’s trade at MSE, share price was 4640 MNT.

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